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Obama $500 Tax Credit

When you get your $500 tax credit that Obama is proposing, what are you going to do with the money? Save it, spend it and why?

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 ---Alan on 1/26/09
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WHAT MONEY? Since Comrad Obama came to power, he has increased the committed US debt by ~3 Trillion dollars. That's about $10,000 for every man, woman and child in the US. This money doesn't just magically appear. It will have to be paid by our children and grandchildren - and this with an economy crippled by government meddling. The sooner this bunch of econo-terrorists is voted out of power, the better.
---jerry6593 on 3/14/09


Math might be off... but if they were to equally divide up the stimulis money we all would be able to pay all out bills pay off our homes and buy a new car or two and still have money left over! Wouldnt that boost the economy!!!??
---Steph on 3/12/09


Wayne your math is wrong. Try calculating again.
---Alan on 2/17/09


The stimulus package is 727 billion.
If just 300 billion was divided up between those that filed taxes last year, roughly 200 million in the USA, we would each get 15 million.
that gives you an idea of the massive amount of money that is being thrown around.
---wayne on 2/17/09


Bush started the ball rolling with the bank bailouts. I didn't disapprove of all he did, but this made me wonder if he'd gone absolutely nuts! Unfortunately, Obama continued throwing more money (money we don't have) in all directions and calling it "stimulus". Most of the jobs he will create are government jobs that, while they feed a family, require even more from taxpayers.

We are not nearing "catastrophe". The economy will recover. Obama has been pushing for quick passage of his bill so that there will not be time to read the one foot thick document before he signs.

I'm hoping for more discipline in government spending....dream on...
---Donna66 on 2/16/09




Bush and Obama and Clinton, etc, even Hitler, they were all just puppets who could do nothing without the authority from above (or below depending on the way you picture the hierarchy of Satan). Also, they cannot work without the permission and cooperation of the common person on the street. A teacher in a classroom only can teach as long as the children allow him or her to teach them. As soon as rebellion sets in it is impossible to remain in control of a situation. The only hope a teacher or president has then is that an effective back up comes in to give them authority, like maybe the Head Teacher comes to support them, or the children are all detained after school as a punishment.
---frances008 on 2/16/09


Steveng---

ARMs were ridiculous period!
Any home loan is going to be more than prime since they carry more risk for the lender. It should be very few percentage points, though.
Anybody who felt they needed this type of loan took a big gamble. Did they just not think? I wouldn't mind seeing ARMs outlawed.
---Donna66 on 2/16/09


Put it into my savings account for bounce protection and car repairs
---Susan on 2/16/09


NurseRobert: "Bushie's started this mess. Obama did not let them "take over your homes"."

Why blame just one man? Does a parent have full control of their children? Does Bush have control of evil men? For the last thirty years the government has been deregulating the financial markets. Maybe even the last sixty years. And Guess what? Dozens of evil men over the years have taken advantage of the deregulation. Man, who are intellectual in the eyes of the world having their degrees from prominant universities and the wealthy men who want more played a part in this financial mess. Not caring for the whole of humanity, but for their own selfish motives.

As for me, I don't think of it as a crises, but a challenge.
---Steveng on 2/16/09


Donna66: "What is an "outrageous" rate? You don't get to use sombody else's money for free. Sometimes a high interest rate is simply due to a bad credit history."

ARMs going from 1-1/2% to over 17% over prime in three years IS outrageous. When this housing bubble first burst the first thing that came to my mind was to simply roll back the interest rates to a reasonable level until the root cause was solved. But, NO, it was too simple. The goverment thought it would be easier to throw money at the problem. Which I believe was the biggest mistake Bush and Obama made. Throwing money at a problem, any problem, doesn't solve the root cause of the problem. Greed, of course, of institutional investors is the root problem.
---Steveng on 2/16/09




frances008-- What is an "outrageous" interest rate? You don't get to use sombody else's money for free. Sometimes a high interest rate is simply due to a bad credit history.
---Donna66 on 2/15/09


Obama has bailed out all the big evil corporations but not the people who are paying outrageous interest rates on homes due to greedy bankers. Obama is just a continuation of the evils of Bush. So much for those of you who pinned your hopes on 'change'. I bet you did not think things could get worse, well, they obviously can and just did. Printing of loads of money is a sure way to devalue a currency to the point of destroying it and causing gallopping inflation. I hope you folks who so love Obama are stocking up on food for the coming collapse.
---frances008 on 2/14/09


Obama the 'peoples' man' or the 'common man's man' has given away your money to the greedy banks and let them take over your homes.---frances008 on 2/13/09

Frances, Bushie's started this mess. Obama did not let them "take over your homes".

Where do you get this stuff?
---NurseRobert on 2/14/09


Obama the 'peoples' man' or the 'common man's man' has given away your money to the greedy banks and let them take over your homes. And people still think he is on their side. How blind can a person be without being a bat? Are the subliminals in television really so strong that you are completely brainwashed and cannot think for yourself anymore. You need to switch off the television and start to think. But Obama says 'don't think'. Hmmmm.
---frances008 on 2/13/09


As far as I understand President Obama's tax credit, it is a payroll tax credit, spread out through the entire year, not a one time income tax credit. This means that you would receive approximately an additional $12 in your paycheck via a payroll tax credit. Also, I read this morning that the homebuyer's tax credit has been reduced from $15,000 to $8,000.
---Will on 2/12/09


Anyone with an ounce of brains knows that when there is no accounibility for spending we are all going to end up in trouble. Remember this when you vote in 2010.
---wayne on 1/30/09


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Speaking of tax credits or refunds, as the case may be, there is an important lesson to be learned thanks to the State of California.

The State is run by Liberals who have done nothing but spend beyond their means and increase taxes and fees. As a result, they are 40 billion dollars in debt, flat broke, and the State treasury is empty. They have just announced that no income tax refund checks will be sent to taxpayers for the time being.

In other words, California is telling citizens "Yes, we know you sent us too much money and you want it returned, but we need it so we are just going to keep it. You might get it back some day, but you might not."

Lesson: Never overpay your taxes in order to get a refund.
---ralph7477 on 1/30/09


It is a tax credit... you wont see it in check form. Its part of when you file your taxes. So you just MIGHT get a little more back this year... they will figure some other way to tax us so that the gov get their money back. i wouldnt be looking for a check like they did last year... not gonna happen. if i am wrong and we really do get a check... i will be surprised! jaw to knees surprised!
---Steph on 1/29/09


Oh yes...will someone explain this to me, because I want mine. Save it. I don't know why. I just like to save too. I just heard about it this morning from an individual. Thank you.
---catherine on 1/29/09


As of now they are planning to let the Bush tax refunds (checks) expire in 2010, and sooner if possible. The tax credic is a joke. Only about 12% of the bail out money is actually going to be spent on stimulating the economy. The rest is going to special interests, like the liberals using it to buy votes for senate and congress elections coming up in 2010.
---wayne on 1/28/09


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"It's a tax credic, not actual cash, and you have to qualify for it by means which will be determined later. It's a joke and the jokes on us. It's going to be set up to look like we are coming out with more money, but we'll be paying more taxes.
---wayne on 1/26/09"

If this passes it will be in the form of the Stimulus check most received under the Bush admin. ('credit' Wayne)
---Becky on 1/28/09


I believe I will save it.
God says to store up for the drought and one is coming seriously. So I want to be ready when it does.
So I am playing it safe and saving for a rainy day.
~God Bless you~
---miche3754 on 1/28/09


what ever my husband decides,no one elses business except God & him.
---candice on 1/27/09


How much is that tax credit going to cost me?
---TIMOTHY on 1/27/09


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If I am still unemployed I will likely put it toward keeping a roof over my head and thank God for it! :)
---Laurie on 1/27/09


Sure, why not, Alan. Let's help the UK too. Them and Isreal are the few we can still trust.
I still didn't see the 1951 version (my favorite) of "A Chritmas Carol" with Alastair Sim's this past Holiday. First time ever. Things are changing. It's a new world and I'm not a fan.
---JP on 1/26/09


Can I have it too?
---alan8566_of_UK on 1/26/09


It's a tax credic, not actual cash, and you have to qualify for it by means which will be determined later. It's a joke and the jokes on us. It's going to be set up to look like we are coming out with more money, but we'll be paying more taxes.
---wayne on 1/26/09


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