$116 billion is payroll tax cuts that amount to $400 a year for singles, $800 for married people filing jointly. If they don't make too much money, that is. After 2010, it's gone. Don't spend it all in one place--it's not going to work any better than Bush's "stimulus" checks did.
$70 billion is another temporary break from the Alternative Minimum Tax, an abomination that should have been killed completely a long time ago.
$6.6 billion is a raise in the credit for first time homebuyers this year
And a grand total of $5.1 billion is a break for business equipment investments--the only thing in this entire package that will actually create some investment.
Off Topic » in reply to There was well over 200 billion worth of tax cuts in that stimulus package
They're not mentioned because they're largely useless.
The whole thread (44 posts)
- I do not understand something about *this* recession...[big surprise]
- There was well over 200 billion worth of tax cuts in that stimulus package
- Once the markers were called...
- (targeted) government spending produces more jobs than tax cuts.
- re: I do not understand something about *this* recession
- Money
- Because this time, the tax cut came first.
