This is a list of what makes up the Economic Stimulus Plan according to Associated Press. I don't understand where most of this package will help stimulate the economy. Wouldn't it be more prudent to stimulate the economy and then we'll look at some of the other fluff that is included in this plan? I don't believe this plan as it currently stands will help. I have to laugh when I read it as it's just more of the same that got us to where we currently stand (and that's not in anything but hot water).
Highlights of Economic Recovery Plan
Spending
Energy
$32 billion Funding for "smart electricity grid" to reduce waste
$20 billion + Renewable
energy tax cuts and a tax credit for research and development on
energy-related work, and a multiyear extension of renewable energy
production tax credit
$6 billion Funding to weatherize modest-income homes
Science and Technology
$10 billion Science facilities
$6 billion High-speed Internet access for rural and underserved areas
Infrastructure
$32 billion Transportation projects
$31 billion Construction and repair of federal buildings and other public infrastructure
$19 billion Water projects
$10 billion Rail and mass transit projects
Education
$41 billion Grants to local school districts
$79 billion State fiscal relief to prevent cuts in state aid
$21 billion School modernization
Health Care
$39 billion Subsidies to health insurance for unemployed; providing coverage through Medicaid
$90 billion Help to states with Medicaid
$20 billion Modernization of health-information technology systems
$4 billion Preventative care
Taxes
Individuals:
* $500 per worker, $1,000 per couple tax cut for two years, costing about $140 billion
* Greater access to the $1,000-per-child tax credit for the working poor
* Expansion of the earned-income tax credit to include families with three children
* A $2,500 college tuition tax credit
* Repeal of a requirement that a $7,500 first-time homebuyer tax credit be paid back over time
Businesses:
* An infusion of cash into money-losing companies by allowing
them to claim tax credits on past profits dating back five years
instead of two
* Bonus depreciation for businesses investing in new plants and equipment
* Doubling of the amount small businesses can write off for capital investments and new equipment purchases
* Allowing businesses to claim a tax credit for hiring disconnected youth and veterans
Source: Associated Press
Monday, February 2, 2009
What Do You Believe Will Stimulate The Economy?
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14 comments:
The list is impressive. But, somehow, to beautiful to be true!
Honestly I think any stimulus plan is going to be subjective and relative.
For instance everything you have listed here would help us in our everyday life.
We would spend the tax cuts on our new storm windows. We would also love to qualify for a tax credit to help us make improvements environmentally for our home.
Also as Walter drives and his company hauls a lot of windmill blades and just about anything and everything that it would take for any work on our infrastructure.
Last but not least, we have family involved as teachers in both the elementary level as well as one professor.
count that in with an income of less than $60,000 between the two of us and this bill will help us.
On the other hand if you're income is higher. And/or you are pretty set in life already and for the retirees that have a good retirement. Then I can only imagine that many will resent the spending of the money.
All I know is that we've got to do something. Or we won't have an economy at all to even stimulate.
Just my opinion and I hope you still love me...either for it or in spite of it!!
Big hugs:-)
And after reading my own comment it is clear that I am not the professor in the family.
Please excuse all of the mistakes. I just woke up from a nap. At least I thought I was awake...LOL!:-)
Shinade, of course I still love you, I think you're a spectacular woman! I am honestly wanting to hear what people think about the stimulus package. I really do believe there is plenty of fluff in this package. I just believe we are always throwing money at issues instead of fixing the issues that cause the problems in the first place. I just don't see this stimulus package helping what hurt the economy in the first place.
Small businesses, entrepreneurs and investors are the engine that run the U.S. economy.
So do everything you can to make it easier for them to do business.
This means the government should get the hell out of the way.
Regulations? Yes, but within reason.
But of course, the current administration wants to grow the federal government, and you simply cannot stimulate the economy by doing that. It is a direct contradiction and makes it much tougher for business people to succeed.
If they really want to stimulate the economy then the government and all the news outlets need to shut up about how bad our economy is. Seriously it's contagious and if they don't knock it off we are all going down the crapper. And they need to stop spending our money.
Everything is so damn corrupted I don't know what can save us.
Everyone wants to protect big business. It all about the corporations being the back bone of america...well in my opinion, those corporations would be nothing without the little workers. If the little workers don't have a pot to piss in, where does that leave the corporations?
I think the giant corporations have gotten their fair share of tax cuts and breaks. We need to focus now on the working poor to stimulate this economy.
But then what the hell do I know. I can't balance my own check book sometimes.
I sure hope something helps and soon. Thanks for stopping by my blog. :o)
I do not know if the package will Stimulate the Economy as we need it to. Some of the listed items could help jobs. However that all depends on who is hiring. I agree there seems to be a lot of fluff. Why can,t we just make simple bills. Ones without so much Pork.
MamaFlo,
My view is that tax cuts are the way to go. They can be effected quickly (just don't collect payroll taxes for several months rather than printing and mailing out stimulus checks--which will cost money). I also agree with Jen that the media are promoting an atmosphere of doom and gloom. As for this bailout wish list, I say trim it by about 99%. Yes, some areas may actually need a stimulus (housing?), but let's keep it reasonable. Remember, we will eventually all have to pay for it.
I also agree that the media is harming more than they are helping.
Okay we all know it's bad and that we need to becareful. But, don't scare everyone completely to death into spending any money at all.
If we quit spending and start hording then we will only make the situation worse.
I too wonder why we can't simply help where the help is needed without adding all of the pork to the bill.
As for the big corporations they should all be ashamed of them selves. They have completely raped all of us the common everyday working person and appear to have no shame about this at all.
I was glad to hear President Obama start speaking up and laying down some rules for these big companies if they do take any of our tax payer dollars.
But, here we go again. because that too is completely a new debate. Government telling companies what and how they can spend their money.
Some times I think we should just leave everything alone, let the cards fall where they may, and start all over!
Surely we have not become such a stagnant country that we can't pull ourselves up and out of this. At least I pray we haven't!!
I think President Obama needs to clean up government - do a check into every congressman/woman and senator to see what they haven't paid in income taxes, etc.
The American public is also footing the bill for these people too.
Restore America's trust in government - clean it up!!
what is so scary is that my heart is so scared for our future. we have a 2 year old and i look at her and worry what she has in store for her. i hope he can really clean up things. fingers are crossed!
The package being offered in the States is much more involved than in Canada, but then again, we have been running on a surplus for the past 12 years and now will have to get used to a deficit of $60 billion!
The way I see it, it will only help in the short term. What is needed is to educate people to live within their means and not be fooling themselves by thinking they have more than they do because of credit.
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