Obama Tax Credit

I was just looking over the Obama tax credit proposal and I really don’t see how its going to help the economy. Obama proposes to provide a tax cut to singles in the amount of $500 dollars and $1000 for couples. While this Obama Tax credit may help some I doubt its going to make a lot of impact for the majority of Americans. We have seen our expenses rise to a level unprecedented over the past couple of years and a 1000 bucks is not going to offset that.

I personally think they should go with the plan to refund everyone’s taxes who paid in the past year. Even if they only gave half of everyone’s money back then it would make a real difference and give people a method to pay off some bills. I don’t think they should give the money to people who have not paid it like they are proposing with the additional earned income credit. All this does it convince people they do not have to work. Someone can work a single day in the year and qualify for earned-income credit if they have children. We need people to be productive as Obama said during his inauguration speech. People don’t need a hand out they need a hand up. Perhaps since this is the year of the ox with chinese astrology and its supposed to be a good year for Obama, I guess this does not mean its going to be a good year for me with what Obama is proposing.

I remember reading somewhere that if they took the 750 billion failout package and divided it up between every tax paying American, then each taxpayer would receive $28,000 dollars. I know if you multiplied that times 2 for my wife and I then it would definitely help my financial picture as I’m sure it would most people. I don’t really think we should go to this extreme, but refunding even half of everyone’s 2008 taxes would put enough money in the pocket’s of the people that people would be able to catch up their housing payments, make car payments, pay for college, etc.. This would do wonders to help the financial market and help the money to start flowing again. I don’t understand why this is so hard for the politicians to comprehend.

I know I’m going to be applying for some government grants in hopes that I can obtain some of this money which is being handed out so freely to these large companies who do not deserve it. I’ve been busting my tail going to work everyday and I deserve a Government bailout too.

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