Obama's New Economic Stimulus Package for 2009, 2010
62Obama's New Economic Stimulus Package
Our new president elect is hoping to put a new stimulus package together shortly after he takes office. His team is already working on a new economic plan. They are hoping to send out another round of stimulus checks to Americans as well as many new tax breaks, and many other changes that will help those on unemployment. It will also provide some assistance to those looking to cash in on some of their retirement savings.
Stimulus Checks
Barack Obama has proposed a new tax credit. This new credit could allow for up to $1,000.00 per family to help ease income taxes. This will kind of work like a stimulus check but will need to be facilitated through employers. The employer will be required to not charge income tax for the first $8,100.00 of an employeeʼs wages.
Retirement Accounts
Another section of the economic plan would include a break for individuals looking to cash out some of their retirement savings early. Obama is hoping to allow those having financial troubles be allowed to access some of their retirement savings without penalty. The plan would allow for up to a $10,000.00 withdraw without penalty at any time during 2009. These withdrawals would still be subject to federal and state taxes.
Income Tax
We could see a large tax rate decrease for the middle class. This would be able to happen with the proposed tax increase for those who earn more than $250,000.00 annually. The new tax rate for those with high income could be as much 36%-39%.
TurboTax Online has the answers to all of your stimulus payment questions. Please visit TurboTax Online to learn more!
Economic Stimulus Package Video
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Mr. Obama When you do get around to addressing the insurance bill there is one BIG request that is most certainly needed.This is for all the 2 to 4 men working (for example)LAYING CARPET AND TILE,these stores Private owners (MILLIONAIRES)are contracting out to what they call subcontractors.Mininum wage is about to catch up with their pay.They expect these men to move furniture and whatever else in the house for free.They are not a moving enterprize.They do not pay any insurance on these men.There is greed and there is greed.They blow it all on Wallstreet and make it back on these hard back breaking men.Then people wonder why people are disabled and on Social Security.Think about it.Not to many men can do this kind of work.Please think about them. At least Store owner paying for their insurance.There is not that many types of companies.I think that would help these men be able to go to the doctor.If ther was a survey of how many had visited a doctor in the last 4 years I think you might see what I am talking about.I want to see my husband live to see retirement.There is no 3% raise in fact no raise,no sick pay.Then have to pay income tax.Something wrong with this picture.Try to keep up the good work.Lord knows you had and still have a mess when you went in office.I would have been like you jump in early and try to get a head start.Dont forget about our elders.
As to sitting and griping about not reveiving your home rebate its there.Use your brain and fill the (RIGHT) form out.I am disabled and paid an attorney to file it.No money refunded.Thats another visit and payment for them. Do a little research AND CALL!! It is sitting there and you are not going to get it by doing nothing.And the people are very nice.
The US population is just under 312million people, figuring 75% are tax payers. That leave 234million people roughly. If they gave these people $200,000 each they will have spent just under $47billion dollars. Compared to the hundreds of billions of dollars they have already spent this is nothing. By giving this money to the public the economy will get stimulated one way or another. Either by spending on needs or paying off bills. I think we need to get people together and tell the govenerment this is what the american people to to help these bad economic times.
may God bless Obama,his family,and his presidency. There is so much hatred in the world. Why| Is it because of the love of money? God's word say money is the rural of all evil. You can't serve God and mammoth too. Why should you degrade someone when they say what's mind. I believe Obama and what he wants to do, whether it happens or not. Noone's perfect but God and His Son Jesus Christ. we all try to do what we can to help others, are you any different? Some of the things that I've read in these comments are cruel. don't judge or you will be judged. What if this were you or a family member being talked about this way? You wouldn't like it. Treat others as you want to be treated,because whether you like or not , we all are brothers and sisters in God's eyes. Unbelievers God loves you too. He rains on the just and the unjust, so give him a chance and if it happens fine and if it doesn't you'll not losing anything. He's human just like you and he's not to blame whatever the outcome is. Live a life of love, peace joy,and forgiveness and you will be amazed at the outcome God Bless you all
one thing i blame the people who put him in there. i do not vote at all.and what black have to do with it?we always did have white presidents in there and they didnt not do what they said they was going to do neither.another thing some people need a check.i feel some people know that the econonmy is bad stop having all these children.and people need to stop complaining and thank god that they have their life.u put him in there so now shut up.and another thing people cant not m ake it off of a small income every month. the only thing the president going to do is make it hard. it will be more violence. and money will not do no one any good.people going to rob,steal and kill. so the president going to cause more violence thats all.i thank god that i can depend on him and not just money .he always make a way for me..people all i am saying give it to god and let him handle it.yall worrying about money. i will be fearing my life if i aint right.it is going to get bad. please believe me if u do not believe nothing else. depend on jesus and not money.whoeva speaks that of checks every month and foodstamps u wouldnt be saying that if ur mom are children or other families was recieving help from the gov..how can 250 dollars help u for one month and u going to be in the same bind the next following month. so if obama give yall another stimulus payment this for the ones who are talking negative yall will love him until 3 years when he make up his mind to send another one. and the president is not the only one who makes the decision.he throw on the table but other people in there have to agree to. it is what it is.
We are hurting they say the price of living gasnt went up they are wrong everything has went up
obama s a joke and so everyone that voted for him
I think Obama is a piece of Crap, lots of promise's and nothing to show for it. I am not able to work and have been living on SSI for many of years. Why is it that for the last 2 years we get letters saying that the Cost of living hasn't gone up so our check's will not go up. That is B.S. every thing has went up and I keep down sizing everything so I can just live from one month to the next. Some people really should spend sometime in the shoe's of people that have to have the government programs and see how easy it is for you to live month to month with everything going up all the time and your check doesn't go up.
to you people who think we got it so good living on Social security and SSI try living from pay check to pay check having to either live with family or Homeless, barely able to make ends meet, when alot of us would work if we could but have been told we can't or can't get hired.
before i took up macroeconomics,i have the same negative comments to these kind of programs. But after having known how the economy works, I now understand. You people just recognize what's the apparent bad effects of those programs not considering the reasons behind . . . maybe that's why you can't feel any progress because you always complain not even trying to give him a chance. If people would follow just what they planned even for a short time then see what happens, maybe you'll see the good intentions and good effects.
OBAMA IS A PIECE OF CRAP....he is RIPPING this economy apart....the people that make 7 figures and up should have to pay more for taxes...instead he gives tax breaks to them and not the under class who bust their butt to make a living..we need to get Obama out of office and get a President that is gonna HELP IMPROVE the ECONOMY..not make bs laws and pass them..i AGREE with all the PEOPLE that wanna take that sorry piece of crap out of office..he has had plenty of time to try to fix the economy..he says he is gonna bring the troops home but instead SENDS more overseas,..if you think Obama is doing good then your really dumber than you look
THIS IS THE SECOND YEAR WE DID NOT RECEIVE A COST OF LIVING RAISE, WE NEED HELP!!! THE COST OF LIVING KEEPS RISING? BUT OUR CHECK DO NOT. EVERYTHING WE HAVE TO BUY TO SURVIVE. GAS, FOOD, CLOTHES, EVERYTHING ACROSS THE BOARD IS ON A RAISE. I HAVE CUT BACK AND CUT BACK TILL I HAVE NOTHING ELSE TO CUT BACK.I HAVE CUT CABLE, I HAVE NO LONG DISTANCE SERVICE OF PHONE, DON'T GO OUT I EAT AT HOME, I GO TO TOWN ABOUT ONE EVERY THREE WEEKS TO SAVE GAS. MY HOUSE NOTE ALONE THIS YEAR WENT UP $28.00 DUE TO THE INSURANCE RAISE. WHAT DO I CUT NOW????
I SORRY BUT THOSE WHO THINK OBAMA IS DOING GOOD IS BLIND AS A BAT. LOTS OF PROMISING NO SHOW.
nativeamerican lol...by gosh, by golly a mouthful indeed...I am speaking my dear of what you need. I'm certain beauty rest is a very big requirement for my friend. If you are so glorious, educated and intelligent, why did you spend half of your life blogging to people who don't really wish to hear from you seeing as you are so crude and rude. Do the world a favor and write a book smartie pants. Then if someone wants to read ur shit they can pay for it!
Let us remove the federal reserve,change allthe money,(to primarily weed out illegal holdings)and reinstitute strictor import tarrifs.Also,was'nt there something somewhere in regard to monopolies in this country,which did not affect Halburton?
Okay to College Student here is some help for you i specialize in the evolution of tyranical governments. a stimulus package is essentially an admission that free market does not exist in a country. The initial argument was that we needed a bailout to save the too big to fails (lehman bros, goldman sachs, bear stearns, etc.) which in capitalism is an outright lie. the laws of capitalism state that you rise and fall by your own merits. the United states has gone from a free market capitalist society to a Corporatocracy. A union of Corporation and Government, essentially fascist. what is happening now in this stage either by shear stupidity or intention the government is funneling all availible wealth from the public to the wealthy 1% by covering bad speculation and obscene kick backs to wall street through either printing the money or borrowing it using the tax payer to foot the bill. this always leads to economic suicide. examples include Zimbabwe, post WW1 Germany, and as we are seeing now the EU and the united states will follow all of these nations down the path of ruin through hyper inflation. it is only a matter of time.
as for most of you idiots this didnt start with obama or bush or clinton this shit has been going on since nixon. even before him but he really did a number with removing the gold standard. Technically the parasitic banking cartel who infected your nation began its growth in 1913 lovely little institute called the federal reserve bank.
Of all the above comments; 17 are over 6 mos. old, of the remaining 10, 9 are over 30 days old, only 1 is within the last 30 days. Almost all of those deal with not following through with what you say you will do. The first 17 should try going back to a website more than once in a lifetime, @ least that would make 17 more people in the world who read their own writings and would then know how messed up their education must be as they surely don't know how to spell! 1)Jerry, to have believed the pres. when he made campaign promises, you must be one of 3 things: 1}naive, for believing-2} gullible for believing what someone promises just to get elected- 3) just plain ignorant for depending on a stimulus check before it is ever issued; the jury may be out on that one , but I am going for what's behind door number 3!.....2) Petra, a blackbird in the hand, is NOT worth 2 Bushes in the whitehouse! Why do you think they call it the whitehouse? At least they kept it in the family, W. changed his image from a ne'er-do-gooder to president of the USA. It was either him, or the first woman president. Guess the history speaks for itself.....3) Mike, in case you didn't know this, every administration inherits the screw-ups and as well as the glory from the deeds of the previous administration so no one politician in D.C. is going on his own record unless he happens to get elected to a second term....
4) Anthony, look up the figures and get youer facts straight, 70% of all new business upstarts fail within the first two years! Of those that do make it, according to S.B.A. statistics, they can expect , on the average, no more than approximately 20% profit and you know what? It also takes @ least 20% profit just to break even so a small businessman's income is little better than living from check to check. Besides that, the tax rate goes up to @ least 17% as opposed to 7.25% for the employed worker who depends on his employer to pay the other 10% for him/you. Soooooo, how can the small businessman help solve America's problems when he can barely make it on his own, besides that, most small business rely on CREATIVE ACCOUNTING to make ends meet so he usually is only helping himself; to under the table deals that is.....5) Now tell me Christina, how is Obama helping those that need it? I need help, but ironically, according to the cost of living index, there is no cost of living increase! Just keep telling yourself he is helping Americans, and when you and your hubby retire and are living on Social Security, let's just see how social and secure you feel then! I have been paying S.S.I. and income tax since I was sixteen and am now 56, living on $702 a month and I am not drowning in debt either. I have just had my 5th & 6th heart attacks and 3rd cerebral stroke one year ago this month, so pardon me if I am not that social and not that financially secure. Being a small businessman myself for several years forced me to go back to working 12-20 hour days so I could recover from all the prosperity I had gained from doing business.LMFAO!
6) Bernice, God Bless You, you are the only one who had anything good about our president. By the way, is ignorance really bliss?.....7) James, if you can really afford a 401K on a retiree's pension, the Prez isn't the only one that's been gouging! Just for thwe record James, the Prez is screwing those of us who really NEED our Social Security benefits by not giving a cost of living increase(notice how the cost of living disappeared when the Prez appeared?).....8) Selene, you DO realize that once you elect someone to office, they immediatelllly become a politician, even if they were an actor like a cowboy, or sperminater robot in a movie? By the way, when you say US, who are you referring to? Are you pregnant, or do you have a mouse in your pocket? And, Oh Yeah, Washington DID disappear, in the movie "Independence Day" that is!.....9) Lashonda, what kind of name is that? Sounds like you and Obama could have grown up in the same ghetto! And by the way, just who's God do you want to bless him? His God, who by the way is Allah, or your god who is????? (moon sounds like an analogy for booty?).....
10) Tosha, DAMN girl! By the way you write,sounds hypothetically like you ought to get your BEHIND back to school and ...learneded how ta spoke betta! Talk about working, hypothetically sounds like YOU ARE THE ONE SITTING AROUND ON YOUR BEHIND WAITING FOR A FREE HANDOUT!!!""WE NEED ANOTHER ROUND OF CHECKS OBAMA!!!""
doesn't sound like ""I WANT TO WORK MORE HOURS"" to me.
11)Aw Jenny, thet's "cash for clunkers" CAULKERS are those nice people you can thank for putting caulk around your tub and sinks. In one breath you're complaining about being able to make it and in the next, you're complaining about your bank not letting you get into more debt with them. I you REALLY can barely make it now, how in the HELL do you propose to pay for a new home??? With escalating interest rates, you should apply for a special first time homeowners loan, buy a fixer-upper, renovate it,re-sell it and use that profit as a down-payment to finance a newer home. And DO put most of your efforts into the kitchen and the bathroom because the numbers show that is where you will get your greatest returns.And don't forget to repair and paint as that will make it look good with a minimal of investment and effort.....12)B-B-Q-Fool????
Name says it all, especially the first and last part...
13)Regina, there WAS NO stimulus check in 2010 and there will be NO stimulus check in 2011. Try reading the news, according to the powers that be, and the economic index, there is no state of inflation and according to me, the only thing being DEFLATED, is my back account!.....14)Weeeellllll, WHOA, if ur jus' a notha Hippie, if you just want to get a long little dogie, get a Dauchshound, otherwise puff puff pass, puff puff pass.....by the way, your favorite song isn't
"I Feel Like I'me Fixin Ta Die Rag"? hugh, hugh?
15)Oh Shelly, you tell 'em girl! But you are getting $48 more than I am. Soooo, either get a bicycle, or like me, get an electric E-zip electric scooter, then you can eliminate your gasoline bill, your car insurance bill, your mechanics bill, and if you got rid of your cable and checked out DVD's from your liocal library like I for id so long, you save a whole lot more!.....15)CollegeStudent, your post is 8 months old, by now you have either gotten an author, or flunked out 'cause there hasn't been a cost of living increase for the past 2 years so ypu are "Shiite" out of luck, get it, "Shiite" outta luck, prez+muslum= SHIITE! Pronounce it any way you like.....16)Yo, miamimammy, he ain't black, just dipped in molasses-a Heinz 57 mutt......
17)Georgia Girl, still alive in district five. Just a georgia peaches to call a spade a spade, even if it really is a shovel, or a pitchfork. But you DO have it bass-ackwards, proof read what you write first......
18)Angela, you are the only one I can really say can have all the blessings the other writers are screaming for; go on about your way and write back soon so all can see the benefits of your blessings......19) Dave, don't drop the soap or someone just might stimulous your butt in a way God didn't intend.....20)Virginia, you 2 faced little twit, you praise him for good and them condemn the folks you say he helps, you twit. By your words you are accusing all people on public programs of being illegals, well, there more american born people on govt. assistance than illegal because the illegals are too busy working for govt. officials...I'll get to the rest of you 2morrow as it is 4:17 & I need my beauty sleep.
When do we get the $$
If Social Security, SSI and recipients of Veteran's Pension are not going to get a COST OF LIVING RAISE, WHY SHOULD THE COST OF LIVING KEEP RISING? THERE SHOULD BE A FREEZE ON EVERYTHING WE HAVE TO BUY TO SURVIVE. GAS, FOOD,CLOTHES, EVERYTHING ACROSS THE BOARD SHOULD BE FROZEN ALSO. DO NOT RAISE THE PRICES ON ANYTHING UNTIL OUR INCOME HAS BEEN RAISED.
Obama made alot of promises just to get office. But wat about the promies he made to us? Apparently nothing! i was really looking forward to getting the stimulus check back in 2011. I'm a single mother of four. I need it!!!!
i've read all of the above responses and i am very displeased about the comment about a BLACK PRESIDENT. why do i feel that this great country of ours hasn't progressed. we are now the land of the FREE. who ever need assistance SS SSI OR WELFARE we all should be able to take care of ourselves. god cont to bless the usa
I THINK THAT MORE SHOULD BE DONE ABOUT THE RECOVERY OF THE WORID AS A WHOLE,ALSO I THINK THAT THE PEOPLE THAT IS GETTING SSI ECT..... SHOULD GET ANOTHER 250 DOLLARS BECAUSE EVERY THING IS GOING UP BUT THE MONEY EVERY LITTY BIT WILL HELP I KNOW THAT IT DID NOT TAKE OVER NIGHT FOR THINGS TO GET THIS WAY SO ITS NOT GOING TO TAKE OVER NIGHT FOR THINGS TO GET BACK THE WAY THEY WAS AT FRIST I JUST THINK WE NEED TO LET THINGS WORK AND STOP THINKING THAT ITS GOING TO ALL GO AWAY OVER NIGHT BECAUSE ITS NOT WE THE PEOPLE ARE VERY STRONG AND WE CAN GET THROW ANYTHING THAT COMES OUR WAY SO STAY STRONG AND MAY GOD BLESS
bush fuck every thing up sending people to war a getting them killed for no reason at all because he was to dam greedy to think of others then his dam self people are loses their homes and cars because of job cuts and the only reason why he won is because his brother cheated for him
I agree with our president.. he is not only helping people on social security and welfare but working people too. It will show in time. Also i believe he should put a lock down on social security and welfare if he intends on signing the immigration bill... those people should not be allowed to reap the benefit of a food stamp or a medicaid card. Please put a freeze on SSI and welfare,food stamp,medicaid and WIC programs please. They claim they are here to work let them PROVE It.
where is all this stimulous money...I never saw any of it as an unemployed white male age 60..I went two years without a check no unemployment ins. or anything...no one cared to help..I finally hit 62 and was able to go onto Social Security and that saved my but..I lost over half of my retirement on stocks and was hit with a hugh penalty when I withdrew my retirement at 60 to live on and then double taxed in the end...stimulous my butt
The stimulus check helped out my children with their school clothes, in 2009.I had lost my job,its only a week away before school starts please can you send out another check i have 3 kids.I wish i had the money so my kids wont have to where there summer cloths to school.I also have been looking for another job and a lot of these jobs need training that i don't have.
May God Bless You and the choice you
make. THANK YOU
Obama is just a sheep in wolves clothing (a black sheep), and he hasn't got the sense to run the USA!
this is what u get for voting for black president,
I'm doing a research project on the stimulus package, 6-8 pages, uhg. And I need resources! This is one of them, but I need an author, Help?
all the congress and other officials need to close their bank accounts for one month and live off of 750.00 a month. see how much groceries they can buy, how much gas in their cars, even see if it will pay their electric bill. i haven't mentioned clothes ,cable, insurance, even toilet paper and tooth paste gets hard to buy nowadays.lol i'd like to see all of them live a month like i and many others have to live.
POLITICS ARE LAME.
JUST ANOTHER HIPPIE, RIGHT?
WHY CANT WE JUST ALL GET ALONG?
my opinion on the stimulus check is a good decision by president Obama becuase there are some Americans including myself that really need that stimulus check. The stimulus check will help me in many different ways I can buy cloth for my two school boys and myself because I have not been able to go shopping for myself because if I buy for the children I can not buy for myself, I can also buy some extra food because when you have children you got to have food in the house. So you can see the stimulus check will deffinetly will make a difference in my life. It will also help to improve the economy because more people will be shopping, that also means sales will also increase.
Did any of you people pass spelling and/or grammar in grade school?
ahh...I'm so sick and tired of hearing about all these programs that Obama is trying to do. Who the heck cares about cash for caulkers seriously? who relaly has the actual money now a days to buy more appliances and then wait to get reimbursed? the people who are in such debt from losing their jobs, and the ones that are barely making just working their full time jobs are the ones that need help. I applied for the making home affordable program and have YET heard a word from my bank regarding the paper work. They keep pushing it back, but every month that goes by is just a struggle to stay afloat.
I am upset with our president before he got in the chair he promised another round of stimulus checks now hes in the chair and he's helping those who gets to sit at home and collect a social security check once a month and those who depend on pubic assistance to provide for them and don't want to work or do anything with themselves just depend on the state while US the hard workers have to get up 5am and sometimes earlier just hypothetically speaking and get ready to go work and bust our behind on a job and work CHECK to CHECK and struggle to get by in this economy i think its EXTREMELY wrong of him not to do another round of stimulus checks!!!! WE NEED ANOTHER ROUND OF CHECKS OBAMA!!!
I think that Obama is doing very well compared to what we had before and I personally think that he also deserves and fair chance we gave Bush 8 years to try to correct things and he didn't. He only made things worse to me. Therefore you can't expect this man to do everything over night or within a few months,nor a year. Mr. Preident keep doing what you are doing and keep up the good work. And God Bless you, your wife and kids.
I think washington with all its politicians should just dissapear altogether. Not one of them have a clue as to what there doing.We are in serious trouble and electing one of those people isnt going to help US in the least.And maybe washington should keep their noses home and help our own rather than bail out everybody else. They certainly don't help us.
Present & past presidents are gouging retires for taxes on their 401k's and pensions.
thank you Obama you are doing a good job. Keep up the good work. And God Bless you and Wife and kids.
Where have you people been living? In a cave? Pres. Obama has at least tried to get some money to the people who really need it. Not to the highest bidder!! He stands for change, and that change is for the good not the greedy. If Bush was so great why did almost EVERY American go and vote to make sure that the same thing does not happen again. The middle class is now $250,000. a year? I have 2 jobs and so does my husband and together we don't even get close to that. So I guess we are lower class and proud of it. At least we get our money that we earn not given.
I would like to see something for the small business owners. The more we can save them to keep them afloat the more they can give to help with America's problems
If the clinton administion had not forced direg. maybe bush wouldnt be getting all the rap for the libs stupid mistakes. This mess started before bush got into office.
you can not compare Obama to Bush, THE MAN JUST GOT INTO THE PRES. SEAT GIVE THE MAN A CHANCE . And Bush plan did not work so why would he follow that same route!!!
If i am reading this rite. We have another PRESIDENT that speeks with fork tounge. He should follow through with a stimulas check as he asked President Bush to do! Not put a bunch of alternitives in a package like all other DEMOCRATS like to do.
Rosie Dent 6 months ago
I think everyone need to speak what they know about obama. Give the man a chance. He got to fix what bush mess up. And that take sometime. let me see you all fix what bush mess up.