http://frwebgate.acc...cid=f:h1enr.pdfThis 800 billion dollar stimulus bill gives you NOTHING.
I dare you to read it (all of it).
This extends the budget of the goverment even more, essentially raising our debt, while not curing the depression.
If you look at the bill, they put funds into places like, the environment, science, Mississippi River and Tributaries,Office of Inspector General,Research and Related Activities,Aeronautics,Cross Agency Support,Violence Against Women Prevention
and Prosecution Programs,Procurement, Acquisition and Construction.
Try searching the document for Office of Inspector General atleast, they just keep giving it money, and more money....seems a little bit suspicious?
Show me how pouring billions of dollars into these sections is going to fix our economy? I am quite positive that none of that money is going to me, or to the banks/businesses that are dieing, and thats not going to open up jobs, all that it will do is lower the value of our dollar.(166 million given to "Office of Inspector General" split into 18 parts.)
elfonso you are wrong. while the bill isn't gonna do much for the economy long term it does provide a lot of temporary relief for americans. i don't agree with this excessive spending but to claim it's not gonna do anything for the people is foolish... stop trying to act smart elfonso
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1. Wage Earners & the Self-Employed
Wage earners and the self-employed are eligible for up to $400 a year for single taxpayers and up to $800 for couples filing jointly in both 2009 and 2010. If you are single, the credit starts to phase out at an adjusted gross income of $75,000. If you are part of a couple filing jointly, your phaseout would begin at $150,000 of adjusted gross income. You’re probably wondering when the check will arrive. It won’t. The IRS will begin reducing withholding taxes automatically at the clip of about $30-$40 a month. If you are self-employed, you can claim your credit when you file your return for 2009.
2. First-Time Homebuyers
Thinking of buying your first house? Although the oft-mentioned $15,000 credit for all home purchases was dropped from the final stimulus package, first-time home buyers can still claim a tax credit of up to $8,000 if the home is purchased between January 1st and December 1st of this year. If you purchase between these dates, you won’t have to repay the credit, as those who purchased in 2008 are required to. This is only for primary residences and the house cannot be sold within 3 years in order to keep the credit. Huge bummer for aspiring house flippers.
3. Home-Owners Looking to Improve Home Energy-Efficiency
If you’ve been thinking of adding new windows, an outer door, insulation, or other energy-efficient improvements around the house, this might be a smart year to do so. The max energy-efficiency credit has been raised from $500 to $1,500, and from 10% of the project’s cost to 30%. Additional purchases include energy efficient appliances such as air conditioners and water heaters. Before making a purchase, make sure the product is eligible for the credit.
4. Vehicle Buyers
If you purchase a new car, light truck, SUV, motorcycle, or RV after the package has been signed, you are able to deduct state and local sales or excise tax on the first $49,500 of the vehicle’s cost. This deduction starts to phase out for single taxpayers with adjusted gross incomes over $125,000 and couples over $250,000. You get the deduction whether or not you itemize on your return. If you’re in the market for a plug-in hybrid, you could benefit from a credit of at least $2,500 on up to $7,500.
5. Students
The American Opportunity (formerly known as HOPE) credit for college expenses will increase from $1,800 to $2,500 in both 2009 and 2010. The credit covers 100% of the first $2,000 of tuition and related expenses per year and 25% of the next $2,000. This credit has also been extended from two to four years of college and can now count against book purchases. Credits are phased out for singles earning over $80,000, and married couples earning $160,000.
6. The Unemployed
Have you been laid off recently? Take some solace in knowing that the first $2,400 in unemployment benefits received can now be excluded from income. Additionally, you may also be eligible for a 65% subsidy for up to 9 months if you stay on your former employers health insurance policy. You will also start to receive a $25 weekly increase in your benefit check.
If you’ve been worried that your 26 weeks of unemployment benefits were almost up, you may now benefit from up to an additional 33 weeks through the end of the year. Check with your local unemployment office for further clarification.
7. Middle Classers Scheduled to Get an AMT Tax Hit
Middle classers can expect a $500 increase in the AMT exemption for individuals, to $46,700, and a $1,000 increase for couples, up to $70,950. This temporary fix is thought to free 26 million families from the AMT in 2009.
Edited by nox, 22 February 2009 - 12:34 PM.
