What will the individual working taxpayer receive from the bloated ‘stimulus package’?
The recovery package has tax breaks for families that send a child to college, purchase a new car, buy a first home or make the ones they own more energy efficient.
Millions of workers can expect to see about $13 extra in their weekly paychecks, starting around June, from a new $400 tax credit to be doled out through the rest of the year. Couples would get up to $800. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.
The $1,000 child tax credit would be extended to more low-income families that don’t make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit.
Did you get that last part? People who don’t pay taxes will be getting a tax break. In other words, working people who pay taxes will be forking over money to able-bodied people who don’t. Welcome to socialism.
And the final result of this ‘stimulus’?
One thing about the president’s $790 billion stimulus package is certain: It will jack up the federal debt.
Whether or not it succeeds in producing jobs and taming the recession, tomorrow’s taxpayers will end up footing the bill.
That’s the bottom line. We’re paying for a stimulus that will be passed along to the next generation of bailouts.
‘Spread the wealth’, suckers.