OK…based on some of Obamas ‘stimulus’ plans:
Tax Breaks – $500 per individual or $1000 per couple – Let’s really see how fast this is eaten up by daily survival.
Jobs – Congressional leaders decided not to include a proposed tax credit for businesses for each job they create or save. So does that mean OUR jobs will still be going ‘overseas’?
Businesses – The package would infuse cash into money-losing companies by allowing them to claim tax credits on past profits dating back five years instead of two. It also would offer bonus depreciation for businesses investing in new plants and equipment; double the amount small businesses can write off for capital investments and new equipment purchases; allow businesses to claim a tax credit for hiring youths and veterans. So will this encourage business to become ‘loosers’ ?
The Senate bill would spend about $125 billion on public schools and on worker re-training. The House bill would increase education funding by about $92 billion over current levels.
Among the specific items in the Senate bill are $79 billion to be given to the states for aid to local public school districts and public colleges and universities.
Also in the Senate bill is about $14 billion to increase Pell Grants for college and university students. The Senate bill would increase the maximum Pell Grant award by $281 in the 2009-2010 academic year and by $400 in the 2010-2011 academic year.
The House bill has similar provisions. OK how long will it take to retrain folks that are still jobless with little or no income and possibly send those jobs overseas as well?
My final thought – WHO is going to pay for this and both how and when? These things may sound good but, what will this give us later? I think higher debt overall and we will be forced to borrow from China or the newly ‘acquired friends’ from the Muslim World Obama wants to chum around with. Stimulus
Data and some content from: http://www.msnbc.msn.com/id/28661839?GT1=43001