Tuesday, February 17, 2009

Obama stimulus benefits for average American

President Barack Obama will sign the economic stimulus bill into law today.

Here are some of the benefits going directly to ordinary people:

About $116 billion for those who make less than $75,000 a year who have taxes withheld. Individuals will get $400; couples, $800.

About $15 less deduction from paychecks starting in July this year, and $7.50 a week next year.

2009 earnings from $200,000 to $500,000 will get about a $4,800 income tax break in 2010. For incomes of $75,000 to $100,000, the 2010 tax savings will be $500. This benefit seems a bit more geared toward lower-tiered wealthy individuals.

Income of $10,000 from $19,000 will be the new requirement for the full $1,000 a child income tax credit.

A $2,500 income tax credit for tuition and related expenses for 2009 and 2010.

The Earned Income Tax Credit provides a $5,000 benefit to low-income families and will be worth $5,600 for 2010 taxes.




Washington Post
The Early Word: The Bill Becomes Law
New York Times - 36 minutes ago
By Michael Falcone After a hard-fought battle on Capitol Hill last week, President Barack Obama plans to signs the stimulus bill today.
Video: What the Stimulus Bill May Do for You AssociatedPress




Obama Promoting Agenda In Key Battleground States U.S. News & World Report

4 comments:

Anonymous said...

Sung to the tune of Janice Joplin's: O Lord won't you buy me a Mercedes Benz)

OBama, won’t you pay off my mortgage for me?
My payments have risen; they want to take my home.
I lied about my income, but they still made me the loan.
So OBama won't you pay off my mortgage for me?

OBama, won’t you buy me a HD TV ?
The airwaves are digital, now static’s all I see.
I can’t miss the next thing you offer us for free,
So Obama, won’t you buy me a HD TV ?

OBama, won’t you buy me a hybrid SUV?
My car is a junker. Its rusting out on me.
We all know autos must be green and gasoline free,
OBama, won’t you buy me a hybrid SUV?

Everybody!
OBama, won’t you pay off my mortgage for me?
My payments have risen; they want to take my home.
I lied about my income, but they still made me the loan.
So OBama won't you pay off my mortgage for me?

Jon said...

I’m sure Obama is legitimately doing what is required of him based on the current situation. If that’s the case, one has to wonder whether he’ll be forced to do the exact same thing two years from now and send more troops to Iraq following a withdrawal. For more check out http://www.TalkObama.info

Obama Mama said...

Obama All The Way

http://obama2009.com

joy28 said...

Though others may consider the stimulus bill not to be a good plan, what matters is how the president handles the situation. The economic recovery may take for a while but at least he had his plans already laid down.

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