So, how much of a tax cut is he delivering to 95% of the American people with that $790 billion? A whopping $13 per paycheck that later gets reduced to $8 per paycheck. Stimuluspalooza!
Q: What are some of the tax breaks in the bill?
A: It includes Obama’s signature “Making Work Pay” tax credit for 95 percent of workers, though negotiators agreed to trim the credit to $400 a year instead of $500 — or $800 for married couples, cut from Obama’s original proposal of $1,000. It would begin showing up in most workers’ paychecks in June as an extra $13 a week in take-home pay, falling to about $8 a week next January.
So what can you buy for an extra $13, soon to be $8 per week? Hmmm. You could get 2, maybe 3, value meals at a fast food restaurant. How about a Lawrence Welk CD. Or a nifty new t-shirt. That’s what the Democrats have birthed. The t-shirt stimulus. That will really get the economy going.
Buy this t-shirt at my CafePress store!
Update: The Anchoress reminds us how Michelle Obama ridiculed the $600 a person tax credit that was issued last year:
I just have one thing to ask:
What does Michelle Obama suggest we do – how we will stimulate the economy with our $13?
As I recall, when there was a $600.00 stimulus check rolling down the pike a while back, Mrs. Obama rather sneered at it:
“You’re getting $600. What can you do with that? Not to be ungrateful or anything. But maybe it pays down a bill, but it doesn’t pay down every bill every month…”
Hmmmm…I’m not sure I understand how $13.00 a week, reduced to $8.00 a week in January, will do much for “paying down every bill every month.” $54 per month (or $32), when offset by the increased taxes that will come from ending the infamous Bush Tax Cuts – which stimulated us out of a recession and brought 7 years of unimpeded growth before this time-suspect strangeness occurred and the additional tax increases that will accompany our ramped-up spending, plus the million little laws, fees and fines that will eat into our incomes…help me out, I’m not really seeing the stimulus, here.
Update: Commenter James queries:
Why isn’t this up on Cafe Press yet?
It is!! Welcome to Up North Conservative where you can now buy your absolutely fabulous stimulus t-shirts. Get ’em while they’re hot! Only most will cost you a little bit more that the $13 extra dollars you’re getting in your weekly paychecks. I do have a value t-shirt for a bare bones price of $8.99, so once your tax credit drops to $8.00 in January, you’re still covered. I’ve only got a few products for now, but I’ll add a few more t-shirt colors and possibly other products if there’s any demand for them.