Comments on: How Obama’s 2009 Economic Stimulus Will Affect You

By: Richard

Richard — Thu, 14 Jan 2010 21:44:10 +0000

Just give us back our interest and finance charges on all loans and credit cards. Not just mortgage interest. When we were able to write off interest and finance charges the economy was good. People will start buying, which will create more jobs, etc. It was unfair to take that write off away from us. The economy has gone down hill ever since.

By: BML

BML — Thu, 09 Apr 2009 17:14:25 +0000

LOVE your comment!

By: BML

BML — Thu, 09 Apr 2009 17:10:56 +0000

All power to you! I agree. This may not be the answer – but my gosh it certainly comes in handy when you’re struggling to pay the bills! I’m not even credit debt – I’m talking life!

By: BML

BML — Thu, 09 Apr 2009 17:06:00 +0000

Would be nice to make over $75,000, we do the same (care giving) with half of that!

By: self-employed40s

self-employed40s — Sun, 29 Mar 2009 17:50:16 +0000

I just spent an hour looking for some information on how self-employed people can benefit from the stimulus plan (since we have no paycheck in which we can look for that extra “boost”). Why is there nothing to help me? I pay double FICA through self-employment taxes. My stimulus rebate check went directly to pay toward 2007 tax balance, and it didn’t even count as a payment! At least that reduced my debt, but I need help just to get by month to month. It seems like I can never pay enough estimated taxes. It would help me to have some cold, hard cash in my hands to pay bills!

By: snowbirdy

snowbirdy — Sun, 22 Mar 2009 22:34:23 +0000

You will owe what you’ve been “given” in 2009 with the reduced tax table. But if they do change the laws before filing the 2009 tax you may break even. You can change your withholdings to cover the “extra” now even if you claim zero. If they do change the laws you’ll get it back. I doubt they will change the laws.

By: Dar

Dar — Sun, 22 Mar 2009 22:04:37 +0000

Not understanding is what they count on from all of us …. they want you to just take it and spend it and raise the economy that month …. then in a few mths the spending stops again and we get to hear recession once more .
A lil bit every week just makes the hike in everythings cost a lil more barable .
Its a stimulated recession ….

By: Dar

Dar — Sun, 22 Mar 2009 22:00:07 +0000

theres a major difference !!

By: Dar

Dar — Sun, 22 Mar 2009 21:57:24 +0000

afterthought……
And for the peole that arent in debt or dont want a lowered mortgage starting rate , the ones that were wise from the start (which I am not one) Give them the cash stimulus …. they deserve it and they have earned the benefit of having the cash gift … why ? because they will use it wisely …..

By: Dar

Dar — Sun, 22 Mar 2009 21:03:59 +0000

Quit giving the American people a ” lil doggie treat ” , and get things in real check . Spend this money on a useful change .
Take all your money used to assist other countries and assist the people here . freeze the credit card interest rates at a low level giving people a chance to catch up and reduce the principal debt owed .
Help the people that rent due to minor credit issues be able to purchase a home with low interest for the early years of the mortgage where if they are motivated to move forward they will put everything they can toward the principal early on .
That will create a stimulus …. homeowners by things for their homes .
People need a round about stimulus not just some play money … that ends up in big biz pockets and just makes a fake stock market jump for a few companies that will drop out again after that play moneys gone everyones stock drops again and we are again in a self afflicted recession …..stimulated recession ….is anyone seeing what this is ? I wont go any further .

By: Flexo

Flexo — Thu, 19 Mar 2009 13:11:45 +0000

It’s too early to say considering there is much more time left for the government to change the laws for 2009 income tax returns.

By: Inquiring Taxpayer

Inquiring Taxpayer — Thu, 19 Mar 2009 13:05:48 +0000

If my 2009 wages, deductions, and exemptions all remain the same with the exception of the new federal tax table, how will the bottom line of my 2009 tax return that will be filed in 2010 be different than the one I just filed for 2008?

By: snowbirdy

snowbirdy — Thu, 12 Mar 2009 00:06:06 +0000

Thanks to my dad who found the following:
The IRS website explains in news article IR-2009-13 New Withholding Tables Now Available on IRS.gov; Most Workers Will See Bigger Paychecks this Spring
in the 7th paragraph: “…all eligible taxpayers will need to claim the credit when they file their 2009 income tax return…”
http://www.irs.gov/newsroom/article/0,,id=204521,00.html

By: yanqui

yanqui — Mon, 09 Mar 2009 17:00:41 +0000

Is it just a reduction in withholding? I was under the impression it is a genuine reduction in taxes due. There’s quite a bit of difference.

By: snowbirdy

snowbirdy — Mon, 09 Mar 2009 16:29:20 +0000

How will the reduction in withholdings affect my 2009 tax return? In the past if I did not have enough withheld I had to pay the government. Now that the reduction in with holdings is giving me extra in my pay check won’t I be paying it to the government next April?

By: Need some money

Need some money — Tue, 03 Mar 2009 05:44:11 +0000

The people who work their a$$ off get less than the ones who sit on their a$$….it just ain’t fair is it? I say, quit work, sit on your front porch and love life. The government will take care of you..

By: Need some money

Need some money — Tue, 03 Mar 2009 05:41:10 +0000

Should I take out what little bit of money I got left in stock for my retirement or leave it in there and lose the rest of it? I am scared. Already lost more than half of what I had saved for retirement.

By: Christie

Christie — Sat, 21 Feb 2009 00:22:51 +0000

I am working 5 jobs. My spouse was forced out of work at ATK because of a medical disablilty. We owe $21000.00 in taxes, because of having to use our retirement fund and Met Life not takiing any taxes out of his checks. I am trying my hardest, paying my bills, alot of it has gone to collection agencies, so trying to keep up is just about taking me out. I do not want to take out Bankruptcy, that is not my way out. I have 3 children and 1 grandchild. Is there anyone or anything out there that could help me in my case. I am not asking for a handout, I just have such anxiety of having to have our families help us, when they can’t really afford it either. I work at a hospital, for an ambulance, Teach EMT classes and also have 2 State jobs, one is the State Pediatric Force Team, the other is State Test team for new EMT’s.
My stress level is pretty high, I just some help, somehow, somewhere. Can anyone help?
Thank you for any help you have for me, advice is the greatest assett from people who have beeen in my shoes/

Sincerely
Christie
email at chp@wildblue.net

By: ourrune

ourrune — Thu, 19 Feb 2009 13:54:11 +0000

I’ll take this refund to get out of TN and back to FL this place stinks!

By: Katherine

Katherine — Thu, 19 Feb 2009 04:26:42 +0000

I liked the big check we got last year. I don’t understand any of this and what it’s going to do to help pay off debt. Me.. I only pay off debt when I have a big amount and my power, rent and everything else is paid. So 30 dollars a week is just going to seem like normal pay to me which will just go to gas power rent things like that bc not seeing it in a big chunk I won’t even think about it being there. Which it doesn’t matter what we think one bit.

By: John Friedman

John Friedman — Wed, 18 Feb 2009 19:37:15 +0000

Sorry, the stimulus is not going to work. Like some of the commenters already mentioned, they’re just going to pay down debt or hoard the money until better times. According to the CBO, economic growth will be lower long-term than if the government just left things alone. It’s time to welcome back stagflation.

Instead of worrying about someone else’s corporate jet, how about we worry about the gigantic hole the government is dumping our taxdollars down?

By: Curious1

Curious1 — Tue, 17 Feb 2009 18:22:15 +0000

So now that Obama is signing this Stimulus bill…the only thing I’m not hearing is when will it all take effect? When wil the unemployment be extended? When will peoples Foodstamps go (i believe 12%) higher? I feel it all starts with the poor. They will spend the money.

By: Retiree

Retiree — Sat, 14 Feb 2009 14:17:55 +0000

Retirement accounts have lost over 30% of their value in the past year. Many retirees (like me) have to work to make ends meet. Yet retirees who receive Social Security benefits continue to be (double ) taxed on their benefits: first, when they paid into the SS system, and now when the benefits are received. Also, even though retired, I still have to pay into the SS system from my earnings. If the Congress is truly concerned about double taxation and about providing relief to hard working Americans, the tax on SS benefits should be abolished, and SS tax on retirees’ earnings should also be abolished.

By: 42 y/o employeed, middle class, married mother in Mississippi

42 y/o employeed, middle class, married mother in Mississippi — Sat, 14 Feb 2009 06:45:12 +0000

God help us. The American people need help, not all the millionare bank execs. Why should we bail out banks that fail? Will the government bail us out when we are unemployeed and have lost our home?
Will a little 500 dollar check really do us any good long term? What the hell is wrong with this picture?

By: Doug Glass

Doug Glass — Fri, 13 Feb 2009 13:43:50 +0000

I do so love to see articles like this one; all complaint and no better way offered. If you, the author, are so capable of determining what’s wrong, why is it you never offer alternative solutions? And cut the crap about there not being space or time. You had space and time to discern what’s wrong, brother you have space and time to offer your solution you just know will work.

People who complain and offer no help are simply bitching … pure and simple. So put your money where your mouth is and publish your real world, workable solutions. But be careful, for every real world, workable solution there is an “expert” to tell you how wrong you are. That’s the nature of economics. So do your research, compile your data, test your hypotheses, publish your results and ask for confirmations and retesting. You do that and you’ll have real credibility. If not, you’re just one more sour individual all to ready to complain, but never available to jump into the fight and take a blow or two.