10
   

$13.00 a Week. Is everyone Happy?

 
 
Woiyo9
 
Reply Thu 12 Feb, 2009 07:35 am
WASHINGTON (AP) - Economic stimulus legislation at the heart of President Barack Obama's recovery plan is on track for final votes in the House and Senate after a dizzying final round of bargaining that yielded agreement on tax cuts and spending totaling $789 billion.

Obama, who has campaigned energetically for the legislation, welcomed the agreement, saying it would "save or create more than 3.5 million jobs and get our economy back on track."

The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.[/b]

Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.[/b]


Millions of people receiving Social Security benefits would get a one-time payment of $250 under the agreement, along with veterans receiving pensions, and poor people receiving Supplemental Security Income payments.

An additional $46 billion would go to transportation projects such as highway, bridge and mass transit construction; many lawmakers wanted more.

The House could vote on the bill as early as Thursday, though Friday seemed more likely. The Senate would follow, but its schedule is less certain.

The Obama plan offers a 60 percent subsidy to help unemployed people pay health insurance premiums under the COBRA program and divvies up $87 billion among the states to help them with their Medicaid costs for the next two years. It provides $19 billion to modernize health information technology systems, even though such funding will create few jobs right away.

To tamp down costs, several tax provisions were dropped or sharply cut back. A provision popular with Republicans and the big business lobby that would have awarded about $54 billion to money-losing businesses over the next two years was instead limited to small businesses, greatly reducing its cost.


A $15,000 tax credit for anybody buying a home over the next year was dropped; instead, first-time homebuyers could claim an $8,000 credit for homes bought by the end of August. Car buyers could deduct the sales tax they paid on a new car but not the interest on their car loans.

But nothing could shake negotiators from insisting on including $70 billion to shelter middle- to upper-income taxpayers from the alternative minimum tax, originally passed a generation ago to make sure the super-rich didn't avoid taxes.

The move is aimed at easing headaches that would follow if Congress passed it later in the year - rather than creating jobs. The Congressional Budget Office estimates that provision will have relatively little impact on the economy.

In late-stage talks, Obama and Senate Majority Leader Harry Reid, D-Nev., pressed for $8 billion to construct high-speed rail lines, quadrupling the amount in the bill that passed the Senate on Tuesday.

Reid's office issued a statement noting that a proposed Los Angeles-to-Las Vegas rail might get a big chunk of the money.

Scaling back the bill to levels lower than either the $838 billion Senate measure or the original $820 billion House-passed measure caused grumbling among liberal Democrats, who described the cutbacks as a concession to the moderates, particularly Sen. Arlen Specter, R-Pa., who are feeling heat from constituents for supporting the bill.

Specter played an active role, however, in making sure $10 billion for the National Institutes of Health, a pet priority, wasn't cut back.

After final agreements were sealed Wednesday afternoon, staff aides worked into the night drafting and double-checking in hopes of officially unveiling the measure Thursday.

http://apnews.myway.com/article/20090212/D96A0AGO0.html

This is the biggest hose job for the 90+% of hard working, tax paying American Citizens who did it the right way.

I love this quote..."Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.[/b]

Contact the President and suggest he veto this bill and contact your reps to tell them how you feel.
 
Frank Apisa
 
  3  
Reply Thu 12 Feb, 2009 07:52 am
Cleaning up the mess the Republicans left us in is not going to be easy.

What I love is that the morons who got us into this mess in the first place are trying tell us how to get out of it.

Well...there is no shame among American conservatives. I mean...how could there be???
0 Replies
 
maporsche
 
  1  
Reply Thu 12 Feb, 2009 09:23 am
This bill is bullshit.

It's going to be very hard for me to stay supportive of Obama after this (assuming it fails, which I believe it will).

He, and congress, have just ASS-RAPED the country and has dug our current deficit hole a few miles deeper, which will bankrupt our economy w/in 15 years. But he'll be out of office then, and won't have to worry about it.
BigTexN
 
  -1  
Reply Thu 12 Feb, 2009 09:27 am
@Woiyo9,
$13 a week! YEAH BABY!!

That'll stop the foreclosures!

Thanks Obamessiah!
0 Replies
 
kickycan
 
  1  
Reply Thu 12 Feb, 2009 10:28 am
I didn't hear you guys bitching even once when that asshole Bush threw away 300 billion dollars about a month ago. Hypocritical pieces of ****, both of you. (Not talking to Frank, obviously).
Woiyo9
 
  1  
Reply Thu 12 Feb, 2009 10:31 am
@kickycan,
Bullshit Kicky, I still have not cashed the check. They can stick that $600 up their ass for all the good it will do.
Cycloptichorn
 
  3  
Reply Thu 12 Feb, 2009 10:31 am
I gotta agree. Sure is a lot of bitching from the peanut gallery.

I don't suppose I need to point out that the Dems wanted to give bigger payroll tax breaks - about 1/3 bigger, and the Republicans pared it down?

Cycloptichorn
0 Replies
 
maporsche
 
  1  
Reply Thu 12 Feb, 2009 10:31 am
@kickycan,
Screw you kickycan, I have been bitching about every one of the bailouts since day 1.

You're the piece of ****.
BigTexN
 
  0  
Reply Thu 12 Feb, 2009 10:42 am
@kickycan,
Quote:
I didn't hear you guys bitching even once when that asshole Bush threw away 300 billion dollars about a month ago.


I guess you don't recall that the Republicans in congress voted against the initial package due to a large outcry from their constituents.

Conservatives around the country have been and continue to be upset at the fact that Congress and Bush pushed it through on the second try...ignoring conservative constituent objections...

So, if you didn't hear the bitching you must have been in a liberal chatroom.
parados
 
  1  
Reply Thu 12 Feb, 2009 11:01 am
@Woiyo9,
There is evidence that those rebate checks did help the economy. GDP grew during the months those checks were sent out. Of course it didn't fix the underlying problems so when the checks stopped, the weakness in the economy was revealed and some people were surprised by how bad the economy was in the next months.
Woiyo9
 
  1  
Reply Thu 12 Feb, 2009 11:23 am
@parados,
Correct. Those "people" you refer to as being "surprised" were our elected officials who had their eyes closed.
0 Replies
 
kickycan
 
  0  
Reply Thu 12 Feb, 2009 01:00 pm
@maporsche,
maporsche wrote:

Screw you kickycan, I have been bitching about every one of the bailouts since day 1.

You're the piece of ****.


Yeah? Let's look back and see how many threads you started that directly pointed out what a tool Bush was for doing the same thing. How many are there? And how many have you started about this stimulus package.

You are most definitely a hypocritical piece of ****, no matter how ******* blind you are to that fact.
Butrflynet
 
  3  
Reply Thu 12 Feb, 2009 01:03 pm
That's $52 a month; enough to cover a monthly utility bill and if I hadn't already decided to move out of state, would allow me to continue living in the apartment I currently live in after receiving the $20 rent increase I couldn't afford.

For some of us that are living on the edge, that extra $52 a month means a great deal.
0 Replies
 
kickycan
 
  1  
Reply Thu 12 Feb, 2009 01:04 pm
@BigTexN,
BigTexN wrote:

Quote:
I didn't hear you guys bitching even once when that asshole Bush threw away 300 billion dollars about a month ago.


I guess you don't recall that the Republicans in congress voted against the initial package due to a large outcry from their constituents.

Conservatives around the country have been and continue to be upset at the fact that Congress and Bush pushed it through on the second try...ignoring conservative constituent objections...

So, if you didn't hear the bitching you must have been in a liberal chatroom.


I'm not a liberal, but I can see how you'd come to that conclusion, being the ultra-partisan douche bag that you are. In your idiotic world, anyone who doesn't agree with the exact conservative horseshit that you swallow directly from Sean Hannity's asshole everyday must be a liberal!

Look in a mirror, tool. I believe you may notice that your foreskin is hanging down over your eyes, making it hard to see the world clearly.
roger
 
  1  
Reply Thu 12 Feb, 2009 01:15 pm
@maporsche,
maporsche wrote:

This bill is bullshit.

It's going to be very hard for me to stay supportive of Obama after this (assuming it fails, which I believe it will).


Why do you believe it will fail? Here's a chance for big daddy to jack up our allowances, with somebody else's money.
0 Replies
 
slkshock7
 
  1  
Reply Thu 12 Feb, 2009 01:31 pm
$13 a week...that's just for us worker class bozos....there are at least 61 Senators and 244 Representatives that may have assured themselves a paycheck for quite some time due to the pork they're bringing home....
0 Replies
 
BigTexN
 
  0  
Reply Thu 12 Feb, 2009 01:40 pm
@kickycan,
Quote:
I'm not a liberal, but I can see how you'd come to that conclusion, being the ultra-partisan douche bag that you are. In your idiotic world, anyone who doesn't agree with the exact conservative horseshit that you swallow directly from Sean Hannity's asshole everyday must be a liberal!

Look in a mirror, tool. I believe you may notice that your foreskin is hanging down over your eyes, making it hard to see the world clearly.


...douche bag...horseshit...asshole...foreskin...and denial...

All intelligent and tolerant liberal qualities!

You may return to your politburo in good conscience!
Frank Apisa
 
  1  
Reply Thu 12 Feb, 2009 01:47 pm
@BigTexN,
I'm not a liberal either...but I agree with Kicky completely...although I tend to think you can't see clearly because you have your head up your....

...well, let's just say I do not agree with the foreskin part.
BigTexN
 
  1  
Reply Thu 12 Feb, 2009 01:52 pm
@Frank Apisa,
Quote:
...well, let's just say I do not agree with the foreskin part.


Frank, as much as we disagree on things...I do enjoy interacting with you!

Thats very funny!
Frank Apisa
 
  1  
Reply Thu 12 Feb, 2009 02:10 pm
@BigTexN,
Thanks, Tex.

You'd enjoy Kicky also.

If we all sat down for a couple of beers in the City...everyone's stomach would be hurting from the laughter.
0 Replies
 
 

Related Topics

Obama '08? - Discussion by sozobe
Let's get rid of the Electoral College - Discussion by Robert Gentel
McCain's VP: - Discussion by Cycloptichorn
Food Stamp Turkeys - Discussion by H2O MAN
The 2008 Democrat Convention - Discussion by Lash
McCain is blowing his election chances. - Discussion by McGentrix
Snowdon is a dummy - Discussion by cicerone imposter
GAFFNEY: Whose side is Obama on? - Discussion by gungasnake
 
  1. Forums
  2. » $13.00 a Week. Is everyone Happy?
Copyright © 2022 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 01/18/2022 at 07:10:41