Bottom Line
Economic Stimulus Plan, what’s in it for you. If you’re not a volcano, a rare mouse, a bank or a bureacrat, that is. Econ4U on what’s in it for actual people:
Individual taxpayers will receive a tax credit of up to $400; married couples will receive up to $800. The credit is for working individuals with earned income and won’t come in the form of a check (unlike the 2008 stimulus rebate). Most workers will receive the money in their paychecks over the course of 2009 and 2010. The stimulus tax credit is phased out gradually for those making more than $75,000 per year ($150,000 for married couples).
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The stimulus also provides incentives for first-time home buyers, and buyers of new cars. Those who purchase a primary residence before December 1, 2009 will receive an $8,000 credit, and new car buyers in 2009 can take a deduction on the sales tax from the purchase.
Buying a house or a new car? No? Me either. No money for that. Sounds like a lot of $400 and $800 checks will be spent on groceries, household bills, or maybe stuff from China. Here’s an idea. How about making home improvement projects tax deductable? Those employ all kinds of Americans up and down the food chain, and use a lot of stuff made around here. Roofing jobs. Siding jobs. Cabinetry. Plumbing and electrical work. All that. The Dems should like it because even though it rewards responsible property ownership, boosts values, and supports small businesses and non-union tradesmen, that kind of work also employs a lot of illegals, who have been going home lately.* Just a thought. What the heck do I know.
Anyway, that’s what you’re getting for your $1.75 trillion. Along with an Amtrak bailout, welfare state restoration, that kind of thing. Looks like shellfish and other bottomfeeders are higher priorities than you.
Gateway, posting the neato chart below, notes its Bush’s fault the Dem Cong and Dem pres have been forced to jacked up spending on all their favorite agenda items. Blaming Bush has worked out pretty well for them so far. Why stop?
* Malkin notes that border enforcement is out of favor. Might as well employ these people.
Posted by Jules Crittenden at 9:54 am on Thursday, February 26, 2009
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