Posted on 01/25/2010 9:23:00 AM PST by Nachum
Obama announces economic aid for struggling middle class families
WASHINGTON (AP) -- President Barack Obama is offering new ideas meant to help struggling people pay bills and care for their families, aiming to help a middle-class he says has been "under assault for a long time."
Obama and Vice President Joe Biden outlined a series of proposals that will be in Obama's budget next month.
They include a doubling of the child care tax credit for families earning under $85,000, a program to cap student loan payments for people carrying a big college debt burden and aid for families taking care of elderly relatives. The president on Monday spoke to members of the task force, led by Biden, that he appointed to help the middle class. Obama is ensure those in economic distress that he hears them.
(Excerpt) Read more at finance.yahoo.com ...
ROTFLOL Sure snort.
lol. I guess you are right.
yet again, people who don’t have kids at home any more get screwed.
Capping student loan repayments - so I can get an expensive yet worthless degree from a pretigious institution, followed by a twiddle-my-thumbs job that pays $30K a year, limiting my loan payback to $3K/yr, while someone else who actually becomes a producer in the economy has to pay back potentially a 5-figure sum each year? Thanks so much.
Government intervention at every level is the CAUSE of our problems, not the solution.
Not true. Families get screwed too. If you have three kids who are not causing a "day care' expense, you now lose the Bush tax credit for kids and have no other additional child credits.
It's because they are not looking for the best solution for middle class woes. That's just the lip service. They are pushing a much larger societal overhaul based on a faulty premise.
Just trying to expand the entitlement class that he hopes will vote Democrat.
Anyway, “middle class” is typically Democrat-speak for “union.”
Problem with the child tax credit is it isn’t available to couples making more than 85K. Where I live (Northern Virginia), practically any professional-class federal employee makes more than 100K, so we haven’t been able to make use of this credit, ever. Even if they doubled the income limit, we’d still be excluded.
I think they should make the income cap something like 250K.
NOTHING for business to make the economy grow. Zip.
IOW this is the “Joe the Plumber” TAX!
Obama seeks to punish the brown voters.
These are the same people who make “women’s studies” part of working in personel in corporations.
Worthless degrees are there to have work for worthless professors.
Well since not a single thing effects me I guess that means when the Bush tax cuts expire I pay more just like always while those who get child care credits I end up paying for?
why not quadruple the tax credit?
Saddly all I see is republican country clubbers blowing yet another opportunity.
Thank goodness I’m LOWER middle class as far as income goes. (Well, TAXABLE income anyway, LOL!)
Don’t do me or my family any FAVORS, Bammy! In fact, leave us the h3ll alone! Better yet, just LEAVE.
The State of the Union is going to be delicious. It’s going to be fun watching him polish this t*rd of an economy, LOL!
What’s the ‘key phrase’ this time around for taking a shot? ;)
Very cute! :)
Hey, remember when Michelle Obama sneered at the $600 rebate checks?
By Michelle Malkin • February 12, 2009 10:02 AM
The tax cuts in Barack Obama’s Turbaconducken rescue and recovery plan work out to $13/week per family (and sink to $8/week in January).
I know. You hardly know what to do with that huge windfall!
Remember when Michelle Obama derided last year’s $600 rebate checks?
Anybody with kids qualifies for EIC unless they are over the cap. And kids are of course usually dependents and exemptions. If you think it’s bad if you have kids not in daycare (FYI mine were not in day care either through most of their school years), just wait til they grow up and move out. It’s not much fun to bring home a smaller paycheck and think about how many hours a day you are basically just working for uncle sam.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.