Obama: tax cuts will be felt by April 1

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • kwame k
    TOASTMASTER GENERAL
    • Feb 2008
    • 11302

    Obama: tax cuts will be felt by April 1

    WASHINGTON – The notoriously slow Congress passed the $787 billion economic stimulus package in a matter of weeks. President Barack Obama signed it into law less than one month into his presidency.

    So, just how soon will Americans start reaping the benefits of tax cuts in it?

    By April 1, according to the president.

    "Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," Obama said Saturday in his weekly radio and Internet address.

    He said the Treasury Department has begun directing employers to reduce the amount of taxes withheld from people's paychecks in accordance with the new law, and that in six weeks, a typical family will start taking home at least $65 more every month.

    Obama says his signature "Making Work Pay" tax break will affect 95 percent of working families.

    The $400 credit for individuals is to be doled out through the rest of the year. Couples are slated to get up to $800. Most workers are to see about a $13 per week increase in their take-home pay. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

    People who do not earn enough money to owe income taxes are eligible for the credit, an attempt to offset the payroll taxes they pay.

    Obama's expensive and ambitious package of federal spending and tax cuts is designed to revive the economy and save or create 3.5 million or more jobs. It will inject a sudden boost of cash into transportation, education, energy and health care, while aiming to help recession victims through tax cuts, extended unemployment benefits and short-term health insurance assistance. It also will add to a rapidly growing national debt.

    The president signed the measure into law Tuesday.

    In his weekly address, Obama said he was grateful to Congress, governors, mayors and everyday people who supported the measure.

    Still, he added: "It is only a first step on the road to economic recovery. And we cannot fail to complete the journey." He said the country also must stem foreclosures, repair the banking system, get credit flowing again and revamp financial industry regulations.

    And, even as he promoted the record-breaking spending plan, he called for doing what's necessary to control "exploding" deficits as the economy begins to improve.

    Obama is holding a bipartisan "fiscal responsibility summit" at the White House on Monday to talk about ways to control the trillion-dollar budget deficit. The next day, he is to address a joint session of Congress, a speech expected to focus heavily on the economy. On Thursday, Obama will send a budget request to Congress "that's sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't and restoring fiscal discipline."

    Republicans are certain to hold him to that.

    In the GOP's weekly address, Rep. Dave Camp of Michigan, the top Republican on the House Ways and Means Committee, said his party wants to work with Obama to solve the country's economic problems "in a responsible way that does not burden our children and grandchildren with a mountain of debt."

    "We can't borrow and spend our way back to prosperity," Camp said. "If he is serious about dealing with the tough issues and getting spending under control, his budget will show it."

    ___

    On the Net: http://www.whitehouse.gov
    Link
    Originally posted by vandeleur
    E- Jesus . Playing both sides because he didnt understand the argument in the first place :D
  • kwame k
    TOASTMASTER GENERAL
    • Feb 2008
    • 11302

    #2
    In the GOP's weekly address, Rep. Dave Camp of Michigan, the top Republican on the House Ways and Means Committee, said his party wants to work with Obama to solve the country's economic problems "in a responsible way that does not burden our children and grandchildren with a mountain of debt."

    "We can't borrow and spend our way back to prosperity," Camp said. "If he is serious about dealing with the tough issues and getting spending under control, his budget will show it."
    Amazing! Fiscal Conservatives are back. I guess getting their asses handed to them has been a wake up call. I still say they are doing this out of spite and not for the good of the American people but..........whatever their motives are, I am all for oversight. The more people looking after our money the better.
    Originally posted by vandeleur
    E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

    Comment

    • Nickdfresh
      SUPER MODERATOR

      • Oct 2004
      • 49335

      #3
      So, where are all the whiny Republi'tards on this?

      Comment

      • Redballjets88
        Full Member Status

        • Mar 2005
        • 4469

        #4
        13.30 a week!! OMFG!!!! Thanks Obama, i was running low on smokes I guess...
        R.I.P Van Halen 1978-1984

        hopefully God will ressurect you

        "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


        " I liked Sammy Hagar " FORD

        Comment

        • kwame k
          TOASTMASTER GENERAL
          • Feb 2008
          • 11302

          #5
          Originally posted by Redballjets88
          13.30 a week!! OMFG!!!! Thanks Obama, i was running low on smokes I guess...
          As opposed to what you got under Bush?
          Originally posted by vandeleur
          E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

          Comment

          • Redballjets88
            Full Member Status

            • Mar 2005
            • 4469

            #6
            Bush gave 300 or 600 up front, Obama 400 or 800 over time. Which will do a better job of jumping the economy a little, who knows? I doubt either will do much.
            R.I.P Van Halen 1978-1984

            hopefully God will ressurect you

            "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


            " I liked Sammy Hagar " FORD

            Comment

            • kwame k
              TOASTMASTER GENERAL
              • Feb 2008
              • 11302

              #7
              Originally posted by Redballjets88
              Bush gave 300 or 600 up front, Obama 400 or 800 over time. Which will do a better job of jumping the economy a little, who knows? I doubt either will do much.

              Think about this....you already got your refund from Bush......did that help the economy? Did anything Bush do help the economy?
              Originally posted by vandeleur
              E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

              Comment

              • Redballjets88
                Full Member Status

                • Mar 2005
                • 4469

                #8
                For about ten minutes, I'm saying that the odds of these 13 extra dollars for a person probably won't do shit. Furthermore, live in the now, we have more to worry about than how Bush did.

                If we continue to compare Obama and Bush then Obama won't have to do shit.
                R.I.P Van Halen 1978-1984

                hopefully God will ressurect you

                "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


                " I liked Sammy Hagar " FORD

                Comment

                • kwame k
                  TOASTMASTER GENERAL
                  • Feb 2008
                  • 11302

                  #9
                  Nice deflection but........we are 1.3 trillion dollars in the hole because of Bush......show me one speech, one public instance of Bush or the Repukes saying anything about the deficit or putting our economy back on track......we are in the mess we are in now because of who? Back up your answers with links or facts.

                  Oh, and don't use that bullshit that we haven't had a terra-ist attack.....because when you spend 1.3 trillion dollars to fight a war on terra and you can't find/kill the guy who masterminded the whole thing.....we would of been better off offering a 500 billion dollar reward for him.....we'd only be in half the mess we are in now.
                  Originally posted by vandeleur
                  E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

                  Comment

                  • Redballjets88
                    Full Member Status

                    • Mar 2005
                    • 4469

                    #10
                    Originally posted by kwame k
                    Nice deflection but........we are 1.3 trillion dollars in the hole because of Bush......show me one speech, one public instance of Bush or the Repukes saying anything about the deficit or putting our economy back on track......we are in the mess we are in now because of who? Back up your answers with links or facts.

                    Oh, and don't use that bullshit that we haven't had a terra-ist attack.....because when you spend 1.3 trillion dollars to fight a war on terra and you can't find/kill the guy who masterminded the whole thing.....we would of been better off offering a 500 billion dollar reward for him.....we'd only be in half the mess we are in now.
                    I wasn't defending Bush. I didn't say he didn't do his fair share to put us here. I said looking back doesn't help us to move forward.

                    Just because he sucked doesn't mean the bar is any lower than what we should expect from our current President.

                    It not like the members of congress are going to be able to use the whole Bush sucked ass argument to pass bills, it's all about looking at what is happening here and now and assessing the situation and acting accordingly.
                    R.I.P Van Halen 1978-1984

                    hopefully God will ressurect you

                    "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


                    " I liked Sammy Hagar " FORD

                    Comment

                    • kwame k
                      TOASTMASTER GENERAL
                      • Feb 2008
                      • 11302

                      #11
                      Yes, it's about the here and now but........we have to do extreme things to fix the damage that was done in the last 8 years.....that's not looking backwards but dealing with reality......tax cuts are only a small part of the massive surgery that we need to do to stop the fucking bleeding......it wasn't started by Obama but it has to be cleaned up by him. Look at what happened to Bush's bail out, where did that money go? It was his pick that doled out the candy and that sure fixed our economy. Had Bush done anything right in the last 8 years we wouldn't have to do extreme measures to save our country. The fucking asshole put us into another Great Depression but we should look forward.......give me a break.

                      I guess he could do like Bush and start a useless war with the wrong fucking people....that seemed to work out.
                      Originally posted by vandeleur
                      E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

                      Comment

                      • Redballjets88
                        Full Member Status

                        • Mar 2005
                        • 4469

                        #12
                        So complaining will help? Go do some community service if you want to do your part....And don't trivialize the great depression like that, the great depression was at least twice as bad as our current situation.
                        R.I.P Van Halen 1978-1984

                        hopefully God will ressurect you

                        "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


                        " I liked Sammy Hagar " FORD

                        Comment

                        • kwame k
                          TOASTMASTER GENERAL
                          • Feb 2008
                          • 11302

                          #13
                          Wrong as usual..........and if you are going to open your mouth back it with facts.

                          Why isn't it as bad as the Great Depression? Who put those safe guards in place? For extra credit, what safe guards were taken away that allowed the process to get us to where we are now? I'll give you a hint......Repuke, Repuke, Democrat, Repuke.

                          Do you do public service? I do my part.
                          Originally posted by vandeleur
                          E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

                          Comment

                          • Redballjets88
                            Full Member Status

                            • Mar 2005
                            • 4469

                            #14
                            Well considering the unemployment rate was at over 16% during the Great Depression, and at the same time the dust bowl had happened, along with far less resources for people to use, it was much worse than this will ever be.

                            And why are you bringing up safeguards? Do you not read a goddamn word I type? I fucking agree with you on why we are where we are right now. There is no argument, everyone has their hand in the jar when it comes to the blame from reagan on up. and I don't need you to try giving me a pop quiz to act like you are proving a point that we already know.

                            Quick factors that lead into the war of 1812, and the party affiliation of the presidents before during and 2 terms after!
                            R.I.P Van Halen 1978-1984

                            hopefully God will ressurect you

                            "i wont be messing with you in future.the fearsome redballjets88 for fear of you owning me some more" Axl S


                            " I liked Sammy Hagar " FORD

                            Comment

                            • kwame k
                              TOASTMASTER GENERAL
                              • Feb 2008
                              • 11302

                              #15
                              The British.......Madison during, Jefferson before and Moore, Quincy Adams after.
                              Originally posted by vandeleur
                              E- Jesus . Playing both sides because he didnt understand the argument in the first place :D

                              Comment

                              Working...