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  • Taxpayers would get checks under economic stimulus plan

    http://www.cnn.com/2008/POLITICS/01/...lus/index.html

    Taxpayers would get checks under economic stimulus plan

    WASHINGTON (CNN) -- U.S. taxpayers would get checks of several hundred dollars from the federal government under a plan to stimulate the economy, congressional and Bush administration officials said Thursday.


    "Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around."

    House Minority Leader John Boehner, R-Ohio, said, "I'm looking for quick action in the House. I hope that the Senate will follow quickly so that we can put this money in the hands of middle-income Americans as soon as possible."

    Speaking a few minutes later at the White House, President Bush said the package will "boost our economy and encourage job creation."

    Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.

    People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple.

    A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.

    Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal.

    Pelosi said as many as 116 million American families will get a rebate check.

    Checks could be in taxpayer mailboxes by June, according to an Associated Press report.

    The agreement includes a robust package of business incentives and help for homeowners facing possible mortgage foreclosures.

    The Treasury Department still must analyze the numbers to determine the price tag of the stimulus package, sources said.

    To get to the agreement, Democrats dropped calls for increases in food stamps and an extension of unemployment compensation. Republicans agreed to allow people who pay Social Security taxes but not income taxes to get the checks, sources said.

    "This package has the right set of policies and is the right size," Bush said Thursday. "The incentives in this package will lead to higher consumer spending and increased business investment this year."

    He added, "This package recognizes that lowering taxes is a powerful and efficient way to help consumers and businesses."

    The stimulus package may face resistance from fiscal conservatives in both parties over worries that it would increase the federal debt. Auditors report that the federal deficit -- the difference between what the government takes in and what it spends -- is increasing.

    The nonpartisan Congressional Budget Office estimated Wednesday the deficit would jump to $250 billion, mainly because of a weakening economy. That estimate does not include any additional spending that would be part of a stimulus package.

    The proposal is intended to address economic worries stemming from a worldwide credit crunch created by the mortgage crisis and plunging stock markets. The president proposed the package last week. Watch a debate on whether the U.S. is heading into a recession »


    Officials in both parties credited Paulson, the former Goldman Sachs executive known for a shrewd grasp of the markets, with pushing the package aggressively.

    "He's been on the phone with practically every member of Congress -- some of them a few times," one Senate Republican aide said. "He's not fooling around."

  • #2
    http://www.cnn.com/2008/POLITICS/01/...lus/index.html

    Taxpayers would get checks under economic stimulus plan

    WASHINGTON (CNN) -- U.S. taxpayers would get checks of several hundred dollars from the federal government under a plan to stimulate the economy, congressional and Bush administration officials said Thursday.


    "Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around."

    House Minority Leader John Boehner, R-Ohio, said, "I'm looking for quick action in the House. I hope that the Senate will follow quickly so that we can put this money in the hands of middle-income Americans as soon as possible."

    Speaking a few minutes later at the White House, President Bush said the package will "boost our economy and encourage job creation."

    Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.

    People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple.

    A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.

    Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal.

    Pelosi said as many as 116 million American families will get a rebate check.

    Checks could be in taxpayer mailboxes by June, according to an Associated Press report.

    The agreement includes a robust package of business incentives and help for homeowners facing possible mortgage foreclosures.

    The Treasury Department still must analyze the numbers to determine the price tag of the stimulus package, sources said.

    To get to the agreement, Democrats dropped calls for increases in food stamps and an extension of unemployment compensation. Republicans agreed to allow people who pay Social Security taxes but not income taxes to get the checks, sources said.

    "This package has the right set of policies and is the right size," Bush said Thursday. "The incentives in this package will lead to higher consumer spending and increased business investment this year."

    He added, "This package recognizes that lowering taxes is a powerful and efficient way to help consumers and businesses."

    The stimulus package may face resistance from fiscal conservatives in both parties over worries that it would increase the federal debt. Auditors report that the federal deficit -- the difference between what the government takes in and what it spends -- is increasing.

    The nonpartisan Congressional Budget Office estimated Wednesday the deficit would jump to $250 billion, mainly because of a weakening economy. That estimate does not include any additional spending that would be part of a stimulus package.

    The proposal is intended to address economic worries stemming from a worldwide credit crunch created by the mortgage crisis and plunging stock markets. The president proposed the package last week. Watch a debate on whether the U.S. is heading into a recession »


    Officials in both parties credited Paulson, the former Goldman Sachs executive known for a shrewd grasp of the markets, with pushing the package aggressively.

    "He's been on the phone with practically every member of Congress -- some of them a few times," one Senate Republican aide said. "He's not fooling around."

    Comment


    • #3
      What a joke; you only get anything if you make less than $75K; I don't know anyone who makes that little. People on welfare probably make more. And there is not much you can do with $300 anyway. Some plan. Bush is a moron.

      Comment


      • #4
        http://www.realclearpolitics.com/articles/2008/01/the_s..._of_american_en.html

        The Scary Sense of American Entitlement

        January 27, 2008

        By Ruben Navarrette

        SAN DIEGO -- Worried that Americans are on the brink of a recession -- or perhaps already in the middle of one -- the Bush administration and the House of Representatives have reached tentative agreement on an economic stimulus package.

        Glad to hear it. A stimulus may not work exactly as expected, but it's worth a try. Americans are overtaxed as it is, and anything that gets more of their tax dollars back into their hands is a good thing. And if they spend what they get, it'll be good for the economy.

        There's just one thing. You hear about how voters are angry and holding Congress' feet to the fire until they get some sort of relief. But let's not get so caught up in asking what government can do for us that we forget what we can do for ourselves.

        The No. 1 economic threat facing the United States today isn't globalization, stagnant wages, unfair trade policy or illegal immigration. And it certainly isn't what one cable TV demagogue glibly calls a "war on the middle class" by big media, big corporations and big special interests.

        Rather, it's the sense of entitlement that many Americans take with them into the workplace and the eagerness with which they shift the blame when things don't go according to plan.

        The key is to never to take responsibility for the personal decisions you've made. Eventually, some opportunistic politician will come along and confirm what you've always suspected -- that you are at the mercy of forces beyond your control.

        It wasn't always this way. Fifty years ago, Americans were a heartier bunch. They'd grown up in the Depression and defeated Nazi Germany and the other Axis powers during World War II, and they found honor in doing any kind of work. If they didn't earn enough money doing it, they took on another job, or another one after that. Most of all, they took pride in the idea that -- in this country -- our destiny is in our own hands.

        Today, according to a survey of workers in their 20s and 30s, young Americans expect their jobs to provide not only a nice salary but also plenty of vacation time to enjoy it. And from research done by Jean Twenge, a professor of psychology at San Diego State University, we know that many members of "Generation Me" walk into job interviews brimming with self-esteem and expecting to be put on a path to a corporate vice presidency.

        Is that all? And what if they don't get everything that they think they're entitled to?

        That's when the blame comes in. Americans like to blame illegal immigrants for keeping wages low, or workers from India or China for taking high-skilled jobs. In either case, instead of accepting the challenge and trying to beat the competition, too many American workers will call out for protection. And again, some shameless politician will offer it.

        Speaking of shameless politicians, what was Mitt Romney thinking when he told Michigan voters that all those lost jobs in the U.S. auto industry might just come back?

        Sure, and Ford might start making Edsels again.

        It took John McCain to dish out some straight talk and tell Michigan voters what they need to hear -- that these jobs are gone because the world is changing and they have to change with it.

        That was awfully brave. But McCain could have gone further. He could have explained that organized labor helped bring about this displacement by pricing autoworkers out of the market. He could have pointed out that many workers went along for the ride because they felt entitled to the same standard of living that their parents enjoyed but didn't want to get the extra schooling or training to achieve it. He could have said that the situation is complicated by the fact that there will always be those who won't move away from their hometowns -- even when the towns are on life support. And, finally, he could have reminded voters that they can't always blame their problems on others and that, sooner or later, they have to grow up and take control of their lives and their destiny.

        As part of a stimulus package, the government wants to send out tax rebates to jump-start the economy. That's all well and good. But what some Americans really need isn't a check they take to the bank. It's a lecture they take to heart.

        Comment


        • #5
          God,
          Rebate checks again. Problem is IRS will get the blame for what Congress is doing. If the checks don't come soon enough, IRS gets the blame. And all this while attemting to proecess over 125 million tax returns by 4/15/2008. can only imagine the customer call sites are getting inundated with phone calls of "where my money is."

          Congress needs to put more emphasis into restructuring the infrastructure as well as redirecting the emphasis on the economy, trade, and domestic initiatives. And doing it without making the system more corruptible, complex, or convoluted.
          "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

          Comment


          • #6
            Honestly, does any USC or permanent resident here really make less than $75K ? Even all illegal immigrants that I know make more than that. My neighbor makes $75K a month (President of Home Depot).

            Comment


            • #7
              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
              There is some truth to this but you also have to take into consideration the difference in life styles between us and your average immigrant. Most came from a destitute by comparison country. The norm is not having a car and your own space to call home. To them, making enough to afford some of the more basic luxuries we nearly take for granted is a big step up. Is the attitude really any different? They come here because they want more money. The same as anyone who is born here. The only difference is the amount it takes to show a difference from what they had. </div></BLOCKQUOTE>
              Davdah,
              Cars are a luxury, not a convenience. It is said that having a car, or any conveyance, in the United States is a sense of entitlement since it is not specifically nor alluded to in the US Constitution. This is why public transportation systems are an integral part of cities outside the US.

              But to compare the US standards toward other countries is at least hilarious. For $150 per month, I can live in most countries and I am able to pay for my housing, my transportation, my food, utilities, etc, and even have some left over for going out to eat or small vacations. Here in the US, it si more like $2000 to $3000 per month. It is why prices are always relative when making comparisions like you did. And Mr. Navarrette is correct. We gotten ourselves into debt. To blame the immigrants, as you are loosely suggesting, is not the right way to make any debate. Maybe you can blame your wife. She came from a destitute country?
              "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

              Comment


              • #8
                <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">anyone need to hear why public transportation is used more in other countries and not so much here? I doubt it. I think we already know. </div></BLOCKQUOTE>

                Because they are filthy savages !!!!

                Comment



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