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How Obama’s 2009 Economic Stimulus Will Affect You

This article was written by in Economy. 82 comments.


If President Obama’s economic stimulus plan is signed into law is it currently stands, individuals stand to receive a tax credit of $500 and couples stand to receive a tax credit of $1,000. Provided you’re not disqualified for earning too much money, $75,000 for an individual or $150,000 for a couple. Taxpayers might receive this credit either by claiming a credit on the 2009 and 2010 tax returns or by reducing withholding from paychecks.

There is little hard evidence that last year’s stimulus payment helped the economy. In fact, it has done more to confuse and anger taxpayers who now believe they are required to return the stimulus payment to the government, a widespread misunderstanding thanks to the way the Congress decided to facilitate the credit.

TurboTax is Easy, Free Edition, Fast Refund

While I explained that in whole the 2008 economic stimulus payment would not affect tax returns, astute people who file their taxes online or use software to calculate what they owe or receive have noticed that changing the amount in the line for the recovery rebate credit affects the amount of their refund or payment due.

There’s a simple explanation: If I tell you I’ll give you and nine of your friends $100 next year, but then offer to give you and only eight of your friends that $100 this year to provide a head start in spending that money, you can’t come to me next year and get that $100 again. You have one friend that will get to collect the $100 next year, but you and your nine friends who received the early check don’t receive it again.

An additional new tax credit created with the possibility of receiving a partial or complete payment in advance will cause more confusion when it comes time to file 2009 tax returns.

For me, another $500, especially if spread over two years, will have absolutely no effect on my consumerist spending tendencies. I would save the money, not spend it or pay off debt. You could argue that those of us who save the money are just passing along funds from the government to banks, but banks can’t use customer’s deposits the same way they can use a cash infusion directly from a government bailout.

Will a $500 or $1,000 “stimulus” affect your ability or desire to save, pay off debt, and spend?

February 13 Update: The Senate and House of Representatives have both passed the compromise version of the stimulus bill. Read the complete stimulus bill here, and you’ll be a step ahead of many of the congressmen who didn’t have a chance to read it before voting.

Updated March 21, 2011 and originally published January 26, 2009. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 82 comments… read them below or add one }

avatar Smithee ♦1,358 (Quarter)

Any refund or credit we get will first get applied to the debt we owe the IRS from 2006 and 2007, when we were seemingly punished for being married and buying a house and two hybrid cars, three things which should have helped us out with our taxes.

I’m still bitter, can you tell?

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avatar Bill

I will probably take that $30 every two weeks and pay off debt. With my wife’s credit as well … that’s roughly $120 extra on my snowball.

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avatar Craig

The way they set up stimulus packages now won’t really help the economy, because it wants to force spending, when everyone wants to just put it in the bank. If they set it up where you have the equivalent to a $500 gift card that expires in 6 months, maybe that will force spending and could help out.

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avatar TaxMan

Good topic. To me, any tax credit (similar to the one that came out in the stimulus package last year) should only be used for two things: 1) Paying off debt; or 2) Saving or investing. If every American eligible for the tax credit used it for only one of those two things, the economy in the short term would not be helped because no one would be buying anything additional. But the long term benefit to the economy (i.e. savings rate, etc.) would be huge.

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avatar Steve

I shudder to think how much money was spent giving us all our own money. Sending out notices, additional information on the tax forms, value/time/money wasted by confused taxpayers, etc etc etc.

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avatar Juggler314

Of course it wont do anything for me. As I’ve b*tched about before, despite constantly campaigning around helping the middle class workers, the guys that make under 250K, ever single possible stimulus package phases these benefits out above 75K. I know people always draw a lot of criticism for complaining about things that phase out over 75K, but why shouldn’t I. I get hit by a stupid AMT occassionally (when I have larger than usual deductions), even though I shouldn’t be because it was never indexed to inflation or CLI. And on the other side of the coin, can’t write off my student loan interest, take education credits or many other things that phase out. Sigh…

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avatar Rick

With no debt I will put any stimulus money in the bank to keep the last stimulus check company. These stimulus checks are so foolish. Borrow money to give to others to spend. We will all have to pay higher taxes later to pay it back.

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avatar Brian

500 dollars is really not that much especially over a year. People will still save or use to pay off debts, like they should. The American people are finally learning the debt creates problems and the country as a whole needs to take responsibility. People will not spend till their debt is gone and their bills manageable.

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avatar Ron

“Stimulus” is all about political payback. Just try and convince a Washington politician that these checks are foolish. Good luck. No amount of logic will work.

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avatar Elisa@Thrive

My generation will end up paying back every penny that is handed out now.

Not a fan.

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avatar Gerry

I’ve also thought over a $500 gift card that everyone should get (that would expire in 6 months).

If I get $500 in a check, I would just save it because I might not have a job tomorrow.

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avatar Bill M

Bah, this like all about politics, its all about sending checks out to keep some voters happy. Why should someone pay for my mistakes? or why should I pay for someone’s mistakes? If I happen to make a foolish decision on something, i should be penalized so I don’t do that same thing again. Now, if we keep re-electing the same chumps into office, you will see no change!!

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avatar NCN

If they send me a check, I’ll put it in the bank and / or use it to fund my Roth IRA.

Instead of these silly rounds of rebates, everyone should get a tax cut.

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avatar LVN

So,let me get this straight. An individual making over $75,000 a year gets nothing even though they support 3 elderly parents bills and help them make ends meet which means they need to keep their tax credit.

I pay my bills, have an underwater mortgage and a house I cant sell after having to move to help care for the parents. But yeah right I dont deserve crap.

THANKS GOVERNMENT!!!!

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avatar BML

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

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avatar SteveDH

I’ll spend spend spend it!!!
No offense to those with other ideas; in fact I admire their determination to pay-down debt or save for their future. I’m retired with sufficient income to meet my expenses and a foundation to protect our future. $1,000 would be a great weekend for my wife and I. For those intent on paying down debt – been there, done that – keep at it and you’ll beat the sytem that always encourages excess and ignores the risks. I wish websites like these would have existed 20+ years ago, because I sure could have used the good advise back then.

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avatar Michael

I know folks who took their 2008 refunds and used them to add to their short-sale positions in BAC, C, WFC, and all the rest. That worked out nicely.

If I had the gumption, I’d take the next round of stimulus, add a chunk to it, and short U.S. long-term Treasuries.

No, I’m not bitter or anything. :)

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avatar SimplyForties

This PORTION of Obama’s 2009 Economic Stimulus Plan won’t affect my spending at all. In fact I won’t even really be aware of it. As a fully self-employed person I pay estimated taxes, which are never enough, send all my stuff to my accountant and then pay what I need to pay. So I guess what I need to pay will be slightly less, and every little bit helps, but I won’t really even be conscious of it. It’s such an insignificant amount of money, spread out like that, I can’t imagine it will make a difference.

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avatar self-employed40s

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!

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avatar Matt

The 2009 ‘stimulus’ is a pork ridden joke. It will not work. They need to cut the corporate taxes. Businesses create jobs, not funding ACORN or birth control.

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avatar unsweetened

indeed this is a bit of strange matter.. who it hurts, who it’ “helps”.. and who it really helps! I’m poor like you wouldn’t believe, I do everything I can to attain assistance that’s intended for me.. This year (filed my return literally less than 30 minutes after getting it from my boss) I expect to get something back aside from what i never was able to get. The recovery rebate program is a god-send to me on the numbers this year alone. I depend on the money I have taken out to come back to me in my taxes- this is literally the only form of savings i can accomplish (in the sense that my budget was already very tight)…

I am very thankful to get something back- because in filing for 07 i wasn’t eligible for the full “stimulus” or for the EIC (and i STILL CANT because i’m not at least 25)… in a few years i Might get an EIC (although i hope i make more money by then), at least in the mean-while, I’ll get something to make sure my drop in the bucket can double if nothing else.

IOW, I’d rather be alive to file taxes and receive a couple drops in the bucket.. than have starved to death because i thought, heating over food or some other crazy trade-off.

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avatar James

It’s hard to imagine this stimulus will do much more than last year’s. It would need to be significantly larger to do that, possibly $5,000 and more per person. The reason the economy is in the tank is because people aren’t feeling safe. They may lose their job, they may not see a pay increase (indeed, they may see a pay decrease), or they don’t have a job anymore to begin with. So everybody’s saving money to make sure they can support themselves as long as possible. If every tax-filer were to receive, say, $5,000, it would somewhat boost everybody’s confidence. I’m sure it wouldn’t lead to economic expansion anytime soon, but I think it would at least keep the wound from bleeding and at least stabilize the situation.

If we were forced to spend the money we would just see a miniature bubble. People will go out and spend the money because they have to and then keep on hoarding their own income as has been the case for the past months.

We need long-term consumer confidence, and that is only going to happen through the creation of new jobs, ensuring that people’s pay at least keeps up with inflation, paying off large portions of government debt so that our tax dollars actually pay for services we need instead of paying interest, investing in domestic energy production to lower energy prices, and teaching people proper personal finance lessons.

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avatar UhOh

You are dead right. Once our fellow creditor nations figure out the US has been pulling a “Maddoff” Ponzie scheme, no more credit! Tbills will be worthless and the dollar will eventually collapse… Short ‘em all! Horrible but true! The party is over and it is time for everyone to take a HUGE hit. What did we think was going to happen, that everything would just disappear? What I am afraid of is if China starts injecting its USD reserves into the economy, we are going to go through a hyper inflation and eventually the dollar will implode.. The stimulus plan will only quicken the process..

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avatar Mrs MH

I was so hoping for another stimulus check. We did use it to pay bills. With my husbands work being cut back, our income dropped from 32 thousand in 2007 to 22 thousand in 2008. We can barely afford groceries and we have a teenage son and his ill grandfather living with us. We struggle constantly. We have come close to losing our home and in spite of the bailout, our mortgage company would not work with us. Neither would our auto finance company, so they picked up our only vehicle. Now we are dependent upon grandpas vehicle for my husband to get back and forth to work and we are praying it will hold out till we can save the money to get a decent used one.

Life is scary right now and we live from day to day, paycheck to paycheck and any luxury spending is totally out of the question. We have put our home up for sale and are crossing our fingers it will sell before we lose it, as we invested our life savings into this home and we have quite a bit of equity in it. We never wanted to sell it, but now with the economy the way it is, we have to.

Another stimulus check may not have been an answer for everyone, but for us, it was a little bit of hope in a bleak time.

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avatar BML

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!

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avatar JeannieJ

And what about those of us who are retired and living on a fixed income? (Many on just Social Security because of circumstances out of their control.)

No stimulus for us. No extra money to buy those products that the “employed” are supposed to be back at work making. Need a new washer? Need another car? Sorry.

Of course, Repubs think it will STILL “trickle down”…..what a joke. Obviously they have no CLUE what it’s like to live on a fixed income!)

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avatar xxtonicxx

I wouldn’t expect anything less from the government. Borrow from Peter to pay Paul. Honestly, our taxes are going nowhere. We work our a$$es off, trying to make ends meet and at the end of the year we cringe at the amount of taxes we have to pay. In reality the stimilus won’t solve all our problems, and I don’t know if this country can get any worse by implementing it. As the old saying goes…”the rich get richer and the poor get poorer.”

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avatar yanqui

If you have some way to get to a local library (public transport will likely get you there as efficiently as a mercedes would) you have the means at your disposal to improve your situation to a much greater degree than any “stimulus” would do. I can sympathize with low-income people, having been there myself for a LOT of my adult life. I can sympathize with those on fixed incomes, disability etc. But to say that there is nothing you can do to improve your situation is fatalistic, and it plays straight into the hands of people who want to control your future. You DO have the ability to learn to do something more. Even if you have children at home and can’t work a second job, you can get to the library on Saturday and get information on Pell Grants. if you’re that poor, you’ll qualify for education. I would so much rather pay taxes that help you learn to do something to improve your standing than pay taxes to keep you barely alive and enslaved to the government for the rest of your life. You’re on teh internet now reading this, that means you have access on some level to a wealth of informaiton. Learn to knit scarves that people want to pay a few bucks for. Learn how to type to improve your job prospects. Learn how to plant a garden and can and freeze the stuff you grow–you don’t need an acre, you can plant a tomato plant in an old tire on your balcony. And you’d be amazed how many people would pay you a dollar for two vine-ripe tomatoes that cost you next to nothing to grow. You have so much potential that the government want to take away from you. Don’t let them!

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avatar Unemployed white collar worker

Oh sure the credit will help me…pay off my tax debt! Which I incurred because I couldn’t AFFORD to have them take their taxes out of my already meager unemployment checks! Of course, its not like $500 paid out over the course of two years is gonna help me keep my electricity on next month anyway – and it certainly isn’t gonna placate the repo man when he comes calling next week!

I didn’t create this crises – I can’t afford a down payment much less a mortgage – and I only have $500 in [emergency] credit card debt!

On the bright side (?!?), maybe my governor will use some of the money the state gets to open more homeless shelters, since we’re certainly gonna need em. And hopefully he’ll build them someplace new, i.e., other than in drug infested gang territories, so I won’t have to go to sleep fearing for my life every night this summer.

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avatar Rachel

Give ME $500. I’ll spend it baby. Last year, I received a $300 rebate and guess what I did? I bought a Blackberry and I love it! Ok I guess it’s selfish for me to go on about my expenditures BUT I did help the cause. :) Unforutunately though, I know many people are more worried about paying bills and paying off debt(0f which I have none thankfully). You know what though…I understand that in some circumstances, we have to use credit i.e school loans…etc but honestly, I know so many people that use their credit card like it’s cash money. FOR THIS, I have no sympathy. IF YOU AINT GOT IT, DONT SPEND IT OR YOU’RE SCREWED. Practice self control. Credit cards are the devil(when used recklessly). Ok I’m done. Well, I really hope Obama’s package passes the House so it can get to all the hard working Americans. I’m a full time student currently unemployed searching for a job so $500 will make parents happy b/c I will get off their back about gas and food money. GO ECONONMIC STIMULUS PACKAGE 2009 GO! :)

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avatar ashley

I understand where your coming from about telling those of us who are on government assistance but really the only thing you can learn to better yourself is to go to school, and when your a mom of three kids (one 3 year old and twin one year olds) getting a grant to pay for school is hard enough but daycare or a babysitter is out of the question for daycare around here its like 130 a child PER WEEK! I cant pay 400 a week for daycare and my husband works two jobs. babysitters are just as bad.

You cant even make stuff to sell now without getting penalized . CPSIA has put so many strict laws about items made for children under 12 and I used to make hair bows, I was able to bring in about 600 a month which isnt alot but it covered our groceries, which is what we are concerned about the most. My husbands job is stable now but I cant sell my bpws anymore becasue i dont have 2 grand to spend on testing every item I use to make my bows.

Even going out and getting a job is almost poinless for me because id have to make at least 1600 just to pay daycare, and with no college thats a little hard.

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avatar rebel

Ok, so now that you Voted for Obama and see what the world will now be dealing with. Do you have any regrets?

just curious.

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avatar rebel

I am a disabled single mother whith MS. Does the Government have any idea how much it cost a year to raise a child without any Medical coverage and to support my Avenox/Co paxone injecion treatments to boot? My in come is only 17k a year. look folks I am a Democrat, but I don’t appreciate EMPTY PROMISES from the President elect. It’s not easy for a person like me in my situation,nor is it fair for people in my situation who suffer from an illness to be treated unfairly. Just because I can’t work due to circumstnaces beyond my control means I am being punished by our government? So I have to sit and watch while my neighbor gets to treat her child to new clothes, a hot meal and maybe some medicine for her child while my child gets to be sick, wear the same old pants and sneakers to school because I can’t afford to buy new ones due to the fact that i am a DISABELD PERSON AND DO NOT QUALIFY FOR A STIMULUS CHECK and I get to beg for some help just to keep myself alive? What kind of Democracy do we live in? Oh I know,..A 75K or MORE Democracy. This Country and the SELFISH IDEALIST’S who run it are only criminals with a license. I hope they can sleep sound at night because where i stand it is mighty restless as i sink and sink till I can no longer swim in this universe. Does everyone realize that if the GOP and the President were to sign a Bill to give each person One million dollars to stimulate the Country it would cost only $450 billion dollars? that is $400 billion dollars less then the anticipated stimulus package that yet has to arrive in everyones Mailbox,..except for me and my child of course. Yet the Government doesn’t want to hear the truth,..That “We the people’ really do know how to budget and spend our own Money. I say to you Mafia type Politicians,..GIVE US BACK OUR OWN MONEY BECAUSE WHAT YOU “BANDITS” DO WITH IT IS INDEED A DISGUSTING ACT OF CRIMINAL INTENT. YOU THE GOVERNMENT ARE WONTON, MALICIOUS AND IRRESPONSIBLE. You never “DO FOR THE PEOPLE”,.instead you “DO FOR YOURSELVES”. I wonder how much will your SELF RAISES($$) BE THIS YEAR WHILE US AMERICANS CONTINUE TO STRUGGLE AND GRAVEL ALONG THE WAY? S-E-L-F-I-S-H, R-E-C-K-L-E-S-S ‘THIEVES”!

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avatar Rick

The Republicans crafted a stimulus package and a bailout and the Democrats are about to produce another so-called stimulus package. It is really criminal behavior to put us all into such indebtedness.

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avatar Leon Evans

Those of us who receive less than 20,000 a year for a man and wife. Those of us who are over 60, those of us who cannot work. We are the ones who NEED a stimulus payment. It doesn’t matter to us if we pay bills or make needed purchases. Either way these things need to be done, and any funds given to us will greatly affect our lives.
When my fridg goes out, and I cannot afford to buy another one I MUST use credit, and that credit has to be paid for Those of us who are at poverty level NEED stimulus income, and I assure you, we won’t be able to save it. We are forced to use it either for payments, or for needed living expenses.

I feel for the lower income people, and even some of the middle income people. But we poverty level people are desperate. Please consider us. That 600 last year provided us with needed things, including food, clothes, and necessary appliances. You give us money and I promise it will be spent. There is no doubt about it. It will go back into the economy, and very quickly. The only savings that will go on is saving our lives.

Leon Evans

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avatar Common Sense

All you folks waiting for the government to help you are in for a big letdown.
TAKE CARE OF YOURSELVES BY LEARNING SOME SKILLS / KNOWLEDGE TO MAKE YOU STAND OUT. IF YOU CANT FIND BETTER WORK WHERE YOU LIVE, MOVE.
That’s how you can make some extra coin in this country. Not on your knees, hoping Uncle Sam will throw you a bone in the form of a $500 check.
If you think things are bad now, wait until these socialist idiots run our country into the ground.
They have no idea how bad they have screwed things up, or how to fix it. Stock up on food and ammo boys and girls.

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avatar nikki

Well considering that we have already moved TWICE, from an expensive state, Colorado (where a 4 bedroom 2 bathroom house goes for 500,000- 1,000,000) Down to texas where at least we can afford to rent an apartment because our credit is so bad since my husband lost his job of five years. It was my mother that helped him get another job where she works, and then you know what happened? The company went under, we were lucky enough that they had sold off the store he was managing to a more stable company. (directly to 7-11) so now he makes 36 K a year and has a nice stable position. But it still doesnt matter, We are no longer on any government assistance and that would be all fine and dandy with me except for the fact that after rent, electric, water and trash, gas for the car, our car insurance and phone bill we have about 200 hundred dollars left over for a whole month worth of groceries and if the kids get sick. We cant afford insurance and a visit to the doctor is 90 dollars. 200 dollars a month doesnt feed 4 people, even if i budget and do everything posible to save. Getting a job is out of the question because ive had three since my husband became manager. Something always happened where he had to go in or work late and i would miss work and get fired. I always told them about my husbands job beforehand so they knew that it would happen, but it doesnt matter.

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avatar What Obama Would SAY

Ok, guys. Think about this. An economic stimulus check is a great idea… in theory. Everyone that has already posted a comment has made it very clear that they are going to spend it on their debts or save it, and then it apparently has no meaning, because it was not spent on random crap. Well, think back on that notion, the one about the money being meaningless. Yes, it is true that if you spend the check on your debt, then you will not have it to spend on some item that you want. But think about it, the money that you didnt spend on your bills (which was replaced by the stimulus) will have the same effect as the stimulus. your probably going to use the money that you now have on something you want, even if it is just one helluva party. Also, why save the money??? It is not money that you will miss once you spend it, and if you have your mind set on saving it, then you are the one who are making the stimulus check pointless. You are defeating its worth by being stubborn. It is meant to be spent and if you do not spend it, then you are wasting everyone’s money, including your own. Take the offer. Go buy an ipod, or a couple hundred shares in Ford, and save the economy. You are being hypocrites by saying, “I wish someone would step up and do something to save this country,” and then refusing to help the one man who is actually trying. The government can only do so much, and the president can do even less. Do not rely on them to fix your problems. You be the one to step up and save this country, because with out your support and willingness to help (spend a little “free” money) then you are causing the downfall of this country.

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avatar yanqui

No, I won’t be spending free money. I’m spending money that’s already mine to spend, because the amount I would get would still be WAAAAAAAAAAAAAAAAYYYYYYYYYYYY less than I pay in taxes and gov’t fees every year. And I won’t spend other money because I put THIS money on bills, I’ll but it ALL on bills and NOT spend other money besides. Or I’ll put it ALL in the savings and still not spend other money.

Sorry, if companies borrowed their way into trouble, I’m just not convinced that my purchase of a plasma tv will save the country. and if someone earning $20k a year tried to buy a $500k house, I don’t think buying a steak instead of a pound of hamburger will save their house.

I’m going to continue to live as simply as I always have, plant my garden, etc.

By the way, all of you complaining about how broke you are, did you disconnect your cable and satellite and fast internet?

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avatar BML

LOVE your comment!

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avatar Shelley

Folks
Things are not going to get any better. Take out your bibles and read them. We are living in the end times. All of what we are seeing unfold before our eyes was prophesied in God’s word. The most important thing that we can do is make sure that we are in right standing with the Lord Jesus who gave His life for each of us. He holds the future in his hands and He will take care of His own. We as individuals and as a nation need to humble ourselves and go before God in prayer seeking His forgiveness and His mercy. Believe me. We do not want what we deserve. He is our only source of help and hope. God bless us one and all.

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avatar the lady

So tell me how $500.00 over the year is going to help us. That’s about $9.00 a week — well let’s see I could buy one cup of soup and a roll in NY for that amount. Wow –Give me a break. I don’t own a house and I don’t have any children in school, etc. I want to know what are you doing for single people in this package, and then I just might listen.

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avatar Matthew

What the hell is wrong with all of you? It’s NOT THAT BAD. I’m 21 and barely work, yet I can afford a four bedroom house and buy myself plenty of new toys. A 73″ TV and hot tub, just last month.. I feel like I’m living the life. I go out several times a week, often throwing out a hundred bucks a night. I have my own computer company and charge clients 80/hr to fix computers. Find something YOURE good at, and do it. I hate hearing all of you people crying about this.. in the time you spent writing that crybaby paragraph, you could have made some money.

AND LOL to “shelly’s” comment above mine.. PUT DOWN your bible and get a job.

Wealthy & Comfortable in the land of opportunity,
Matthew

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avatar the lady

to Matthew–woop de dooo not all of us can own and run a business– don’t be such a smart ass about it you should be giving thanks you have a job—-and if I charged $80.00 a client I’d be sitting pretty too But I think I spoke for a lot of NORMAL singles in NY.

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avatar Saxman

How are we supposed to get ourselves out of this mess with $500??? Thats the equivalent to throwing a grain of sand on a campfire. I have been searching high and low to find some info on how this plan might help us pay off our student loans. I find it ironically funny that this plan is going to help the lower class more than the middle class, which will in turn more than likely end up helping the higher class as the only thing $500 is going to do for the lower class is burn a hole in their pocket (ie. a New TV or a Car Stereo). Don’t try and deny this either… Everyone one of my friends or family that own their own consumer retail shop (Television, Car Stereo, Home Entertainment Centers…) have reported a major increase in lower class sales during the last 3 stimulus checks. Don’t give it to people that don’t know what to do with it… give it to the people that actually need it to pay off dept that we incurred to try and get ahead in life instead of sitting on our butts and letting life pass us by!!

Why am I being punished for working two jobs to get an education, and then getting a job in my feild of study that doesn’t pay enough to take care of my student loans!! This just doesn’t make sense!! Colleges cost to much for to little. I am sorry to say that I regret going to college as, knowing what I know now, I could have easily learned what I was taought from any number of $50 books I could get from Barnes and Nobles or any other book store.

Don’t ignore us!! Listen… and Help!!! and DO IT NOW!!! Please———-

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avatar yanqui

Y’all are missin the point! It’s supposed to be all about HOPE and CHANGE! As long as we have HOPE and CHANGE, it really doesn’t matter what else happens. OBAMA is going to save us all!

Yeah right.

Well I HOPE you have managed to think ahead before you voted for the CHANGE we got and put some money aside, or maybe didn’t start having kids before you knew how to support them, because this is going to get a whole lot worse before it gets better.

I depend on my own wits, not HOPE in someone else’s plans and vessels of fertilizer. Yeah, that’s what this stimulus package is.

High paying jobs–that don’t demand high levels of skill? Okay. Show me one. And if the high paying jobs he’s wanting to bring about require high levels of skill, the ones who “need help” the most still won’t benefit.

What he needs to do is try to force companies to pay more for jobs than thehy’re really worth, so that someone working at McDonalds becasue that’s all they can do can still somehow make $30K a year. How much would that burger be? More than I’d be willing to pay. Raise minimum wage and people will quit buying the stuff that’s produced and served by those minimum wage earners. If it costs me $5 for a McD’s burger, I can go to Applebees for a dollar more and get a real meal.

There IS NO FREE LUNCH!!!!!

Yes, I understand that some people are hurting. But there is nothing the go vernment can do to make your lives better without enslaving you to it. Is that what you want? Why should other people pay to raise yoru children? I’m not saying I wouldn’t help, but what is it about you that gives you the right to expect it? is it that you couldn’t keep your pants on long enough to learn how to type? If you genuinely want to improve your lot, you will find a way. If you genuinely can’t find a way, you genuinely don’t want to.

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avatar BLUELIGHT422

DEAR PRESIDENT OBAMA, VP BIDEN AND CONGRESS;
.
YOU WILL PROBABLY NEVER SEE THIS, READ IT, CONSIDER IT OR USE IT, BUT HERE GOES! I AM WHITE MALE, REGISTERED INDEPENDENT, 62 YR OLD TEAMSTER RETIRED FROM A COMPANY THAT USED TO BE CALLED AIRBORNE EXPRESS. WHICH WAS BOUGHT OUT BY A GERMAN COMPANY DHL. WHICH NOW HAS CLOSED DOWN ITS DOMESTIC OPERATIONS AND CENTRAL DISTRIBUTION HUB/AIRPORT, DELIVERY STATIONS AND CUSTOMER SERVICE CENTERS. LAYING OFF 9,000 AMERICAN WORKERS ACROSS AMERICA AND DESTROYING ONE PARTICULAR AMERICAN TOWN, WILMINGTON OH!
.
TAX CUTS ARE FINE BUT EITHER THEY DONT WORK OR DONT PUT MONEY IN OUR POCKETS TO SPEND AND STIMULATE THE ECONOMY FROM THE BOTTOM UP! THE “TRICKLE DOWN THEORY” EITHER DIDNT WORK OR WASNT FAST ENOUGH!
.
ALSO, THANKS TO THE LAWYERS IN CONGRESS, THE STIMULUS PACKAGE 2009 POSTED ON LINE IS NOT DETAILED ENOUGH FOR THE AVERAGE AMERICAN TO UNDERSTAND! PLEASE SIMPLIFY IT AND GO ON PRIME TIME TV AND EXPLAIN IT TO US LINE BY LINEEXACTLY HOW EVERYONE OF OUR DOLLARS IS TO BE SPENT, WHAT KIND OF JOBS WILL BE CREATED AND WHERE THEY WILL BE!
.
BESIDES THE ABOVE I PROPOSE THE: “TRICKLE UP THEORY”
.
1.
A. GIVE EACH LEGAL U.S. ADULT CITIZEN $1MIL TAX FREE! YES THATS A LOT (SO IS THE $50 BIL A MONTH BEING SPENT ON THE WAR FOR THE PAST 8 YEARS). BUT IT WILL DO A LOT MORE GOOD THEN THE PALTRY SUMS CONGRESS IS TALKING ABOUT! BECAUSE THIS IS A VERY DEEP FINANCIAL HOLE WEVE GOTTEN OURSELVES INTO THAT WE MUST NOW CLIMB OUT OF!
.
B. EACH OF US MUST SIGN A LEGAL CONTRACT BETWEEN US AND THE GOVERNMENT AGREEING TO THE FOLLOWING STIPULATIONS OR FORFEIT THE MONEY ALL WITHIN A 1-2 YEAR TIMELINE!
.
2. MUST BE SPENT ON;
.
A. EITHER TO RECLAIM OUR FORECLOSED PRIMARY RESIDENCES OR TO PURCHASE ONE. (NO VACATION HOMES, INVESTMENT/SPECULATION OR BUSINESS PROPERTIES!)
.
B. MUST BE SPENT TO IMPROVE OUR PRIMARY RESIDENCES IE; ENERGY EFFICIENT INSULATION, WINDOWS, DOORS, ROOFS, SOLAR PANELS ETC!
.
C. YOU MUST PAYOFF ALL MORTGAGES, LOAN, DEBTS, ETC!
.
D. YOU MUST SETUP FULL COLLEGE FUNDS FOR YOUR CHILDREN UNDER 21 YEARS OLD. YOU MUST SETUP FULL HEALTHCARE PLANS FOR YOU, YOUR SPOUSE AND ANY CHILDREN UNDER 21 YEARS OLD!
.
E. YOU MUST PURCHASE THE MOST EFFICIENT U.S. MADE APPLIANCES, CARS, TRUCKS, ETC!
.
IN CLOSING WE MUST STOP THE BICKERING AND WHINING IN CONGRESS AND GET THIS DONE ON TOP OF THE PRESIDENT’S 2009 STIMULUS PACKAGE! IT MUST BE DONE NOW, BECAUSE THERE ARE FAMILIES OUT THERE SUFFERING, NO JOBS, NO FOOD, NO HEALTHCARE, NO HOUSING! THEYRE SLEEPING AND STARVING OUT IN THE WOODS AND UNDER THE BRIDGES ACROSS AMERICA!
.
GIVE US THE AMERICAN TAXPAYERS/CITIZENS OUR OWN MONEY BACK AND LET US INFUSE THE ECONOMY WHICH WILL CREATE THE JOBS AND INFUSE THE TAX BASES! TRUST US TO DO THE RIGHT THING LIKE WE TRUSTED YOU WHEN WE VOTED FOR YOU TO REPRESENT US!
.
I WOULD HAVE SENT THIS DIRECT TO WHITEHOUSE.GOV OR STRONGMIDDLECLASS.ORG BUT THEY ONLY ALLOW 500 CHARACTERS/LETTERS NOT WORDS AND THAT IS NOT NEARLY ENOUGH!
.
TO ALL OF MY FRIENDS OUT THERE I ASK YOU TO PLEASE READ AND CONSIDER THIS LETTER AND IF YOU AGREE PLEASE BY ALL MENAS, SIGN YOUR NAME TO IT AND FORWARD IT TO ALL YOUR FRIENDS. EMAIL IT TO ALL THE SENATORS AND CONGREEMEN/WOMEN IN CONGRESS, TO ALL THE NEWSPAPER EDITORS ACROSS AMERICA!
.
IF YOU DONT AGREE THEN PLEASE COME UP WITH SOMETHING BETTER! BUT PLEASE BY GOD DO SOMETHING WITH THIS BEFORE THEY LET THIS WONDERFUL COUNTRY AND US GO TO RUIN!
.

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avatar ashley

oh my god, saxman!

like its just the lower class who doesnt know how to handle their money? who do you think all those “tax relief lawyers” and such advertise on TV to? not us lower class, we dont work enough to owe more taxes! even when we try! I however know PLENTY of middle class and even higher class people who owe tons of money to the IRS and you wanna know how you wind up owing money unexpecatly? YOU DONT BUDGET RIGHT!

I can take 200 and make it stretch for a month on groceries for a family of 4. You do that. and no that doesnt mean go to the foodbanks or buy cheap junk food. I mean 3 balanced meals and snacks for my family.

I can take 100 dollars and turn it into a whole summer wardrobe for my kids, and yes that needed since they are growing kids, at the same time im not spending 40 dollars on a pair of jeans, and my kids are just as happy with their 3 dollar pair of gap jeans from the used clothing store. that 100 is shoes and new underware as well.

so you tell me that 500 dollars will be wasted on the lower class. We know how to budget just as well as anyone else, even better than some of the higher class because our childrens food and clothes depend on it!

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avatar yanqui

ashley, you’re already ahead of teh game, and you’re already in the minority. Because you know how to make things go farther than the average person, you’re already going to do better than the stimulus would permit. Just don’t let yourself be talked into believing that it will make a difference in your life.

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avatar Brian

I cant believe this, 30$ a week will just buy my gas for the week. You want to stimulate the economy give the people a large amount, not just a small amount. lets be realistic 30$ wont stimulate anything. 10,000-20,000 will stimulate alot of things. One of these days the goverment will wake up and smell the roses. quit giving ;money hand over fist to banks that wont give it up for anything anf give it people who will us it for the economy.

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avatar Saxman

Ashley…

I apologize if I have offended you or anyone else by what I have said. The main reason I hate posting in Blogs and sending corespondence through email is that you can’t relay emotion.

I didn’t mean to say that all lower class earners are simple minded or irresponsible… I have lived in all aspects of the finacial spectrum from the days when I earned $3.75 an hour making pizzas back in 1987 to owning my own courier business in Los Angeles as recently as 2001. Currently because of this recession I find myself in the Middle Class earning just under $40,000 a year, and whether or not we get a stimulus package or not is NOT going to effect my plans for the future. To tell you the truth it doesn’t really siund like you are lower class anyway. Unless you sit at the Welfare office and scheme of ways to have another baby on the Nations dime just so you can get more money to support you drinking habit, or God knows what else, I don’t really think you qualify as lower class. If you and your family bring in 25 – 30 thousand a year… You are Middle Class also, and from what you wrote it doesn’t sound like your collecting welfare at all… it just sounds like your really smart with money and therefore are absolutely in the same position as I am… trying to reach that next level so that we can own our own businesses and then in turn help the lower class out by taking them under our financial umbrella and showing them how to make their lives better through further education and money management. Not all business owners are out for themselves… If an employee can show me that they are willing to put in the time and personal sacrifice that is needed to better themselves, I have no problem fronting some of my company’s capital to help them help theirselves which should then in turn be recipricated back to me through years of loyal employment.

Really the only point I was trying to make in my earlier post was that the money would be put to better use in the hands of capable people like me and yourself.

I wish you nothing but positive things for you and your family, and if you can be smart with your money the way you spoke about earlier… I have no doubt that you will be a business owner in the near future. Its people with visions like this that make the economy stronger. Its the same story as old as time itself…

The Rich Get Richer…
The Poor Get Poorer…
But if you have the drive an initiative…Its the middle man that makes it possible to make the transition from one to the other!

God Bless –

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avatar Saxman

Absolutely Right Brian!!

The banks that have received all this bailout money aren’t helping the people that are currently going into forclosure!!!

Instead give the money to the people who need it.

If you give the money to the people that are in forclosure and the middle and lower class that have recently invested in property to help stimulate the economy. Then teh banks still get their money because those people will pay their mortgage… What the F*** US Government!!! Get your money grubbing hands out of the cookie jar and start thinking about “AMERICA” instead of yourself!!

“AMERICA” is not just an idea of a government that is free for all… Its supposed to be about caring for you fellow man and neighbor. Even the people you don’t know. Do you really need the Ferrari in the driveway or could you use that money to increase the wages of the people that work for you.

Use your brains people… “AMERICA” doesn’t work if we don’t help each other.

“One hand washes the other…”

God Bless the USA and those that fight for her… Home and Abroad!

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avatar Common Sense

One cannot create wealth by dividing it

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avatar Saxman

Thats just the type of thinking that will keep this economy in the shi**er. Lets leave it alone??? Lets not help each other?? Do us all a favor and stay underneath your rock!

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avatar ashley

Saxman,

I am sorry for jumping you, I know what you mean by you cant post emotion so its sometimes taken wrong (like I did, lol)
Thank you as well for clearing it up.

As bad as it sounds, I know people like you mentioned in your post, those who would rather sit on their buts at the welfare office than try and get a job, now im not talking about those people who have a real need to use welfare over a job (like those that are disabled and cent hold one, or are the caregiver to children or another family member who needs it. I understand what its like not to be able to work because you cant afford to pay someone to care for them, even if you were working.)

My cousin is one of those people who uses welfare to pay for groceries so she can use her income for drugs.

When I was talking about those people who own their own company and dont know how to manage it….. I was talking about my father. We had an income of 700,000 a year when I was growing up. when his partner was audited and got in big trouble, the company tanked. Now that wasnt my fathers fault, but what we had in savings wasnt enough to pay his taxes for the last three years. He didnt pay them, and im not sure why….but he had to take a job at a company 1000 miles away for 90,000 a year. at the time i thought oh crap this sucks , were broke!

Im 23 years old and a mother to two great little girls. Wasnt planned that way, but it happened. My husband made 26,000 last year as manager of 7-11, and he does work for his uncles A/C company as well. about 6 months ago he got a raise that resulted in 20 extra dollars a month after taxes. We were kicked off foodstamps and my childrens medicaid. our income might show we are not low class, but when after we pay rent (not in an expensive apartment either, we are actually in the government regulated ones, we are still under that income limit, thank god) of 750 amonth and pay for our car and insurance, and pay our electricity and internet bill we have about 300 a month left for groceries, diapers for our youngest and gas for the car.

I look at our income and think, oh crap were broke! lol but at least I know whats going on and can keep my kids happy.

I look at all of our friends and see that they are single or married with no kids, they live in the high class apartments and take vacations to taiwan every 6 months to visit a friend, and I think we are so screwed, nothing is in our control and i have no idea what im doing, but there was a comment on here that said they think i have it under control and that feels so nice to hear.

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avatar CEO-President

OK – Is it just me or what?

The Government is giving us back some of the money they collected. So, take from the rich and give to the poor, Right?

Does that not just seem so fundamentality wrong in a capitalist system?

I own my own business and I work 15 hours a day to make a living and PAY my taxes!

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avatar sanity8406

What is it with all of the poor folks bashing? Go to the library and learn something; grow things and sell them; stop whining? You are all becoming a country divided! And those of you who say you’re living the sweet life; well get the heck off of here. Until you lose your job, can’t pay for heat or food or medical care for yourself or kids then you don’t know “richard” and should just shut up.

$500 for us? After the trillions of our dollars that have been spent on the war, the billions in cash that were lost in a shipment to Iraq and never found; the almost trillion of tax money that was GIVEN to the banks and companies to spend on million dollar bonuses and private jets!!??

Get real and give us something that will really stimulate our lives and the economy! I agree with “bluelight422″, his post should be sent to the Obama and his cabinet, the house and the senate. It might need some refinements but it’s about as sound and sensible as the crap that’s coming out of Washington today.

If they really care then passing something like this will be easy for them. This country is in so much debt, but we the citizens are in more serious debt; we won’t have shelter or food or access to medical care, the leaders will not suffer one single second.

Come on people! Stop the stupid bickering; you sound like the republicans and the democrats. Get some sense of reality and even if you are not in the same sad financial boat as the millions of laid off people, sick people, or senior citizens, try to imagine what it would be like to not be able to pay for heat, or food, or rent? Not to even have money for public transport to anywhere. Not everyone is in such dire straights but so many are and it’s up to the rest of America to help not make convoluted suggestions because you’re warm, your belly is full and you have your creature comforts. Think of the others who are suffering and offer some sound advice and throw your platitudes in the trash!

I agree that pray is helpful if you’re a religious person but God isn’t going to send us food or money or whatever we need, we have to do that for ourselves.

Amen, I’m finished.

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avatar the lady

by the way guys it’s now down to $400.00 a year for singles and $800.00a year for married couples. The money get lower and lower for us. What is going on here. What the hell are we going to do with $400.00 tax credit. At least give it to us as a check so we can spend it, or put food on the table or pay a dam bill.

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avatar sanity8406

After all of the talk and blogs all over the internet I have to ask if anyone of you out there knows of any way that we can get our thoughts and feelings to the attention of the lawmakers?

What recourse do we, the main street citizens, have in this whole thing? Do we have a voice? Who will listen to us? Where do we express ourselves to be heard and will our voice make any difference?

We the tax payors whose money they keep talking about have no control over any of this; we can only listen in silence as the news shows bring us the latest upset made by the lawmakers in Washington. We cannot tell “them” what to do with “our” tax money because they aren’t asking our permission and once we pay it to the government it ceases to belong to us.

Can we demand a presence in the proceedings? Can we demand a voice in the decision making process? Do we have the right to offer our suggetions and ask that they be seriously considered? Or do we just sit in silence and let them decide for us?

We did that in December when the Bush Administration offered the first bail out only to learn that the money did not have oversight and our money was spent on big bonuses, private jets, big ticket seminars, etc. The banks and companies that received our money don’t even have to pay it back. They aren’t helping anyone with foreclosures, or offering better terms on mortgages for folks who lost their jobs. We are at their mercy and while Obama and his staff are telling us they are trying it really isn’t about us on main street, it’s about the folks at the top.

Pretty soon there won’t be any main street or people on it, most of us will be in the cardboard shanties reminiscent of the 1st great depression.

Thanks ex-President Bush. We are all so happy that you have a nice ranch to retire to and secret service at our expense to keep you safe. Thank goodness you were rich to begin with and that your oil investments stayed so sound and high all of these years so you could enjoy the comforts that you deserve on our sweat and blood. May the Good Lord see that you receive everything that you so justly deserve.

We will survive, it won’t be easy or pleasant but we are a country of survivors so we will prevail. I only hope the Chinese and our other debtors don’t call in our loans!

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avatar Guy in debt

Look, I have debt. Lot’s of debt. While I’d like to think I’m responsible for said debt, it disgusts me to no end to know that while I try to dig myself out of this crushing debt, our top executives are getting their shares of the pork pie, bonuses are STILL being paid out regardless of company failures and the icing on the cake: $300 million so congress can buy a bunch of golf carts.

The government takes money out of all of our paychecks, it’s about time we all say enough is enough

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avatar brywolf

Amen, you are the first person on here that knows what they are talking about

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avatar Doug Glass

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.

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

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?

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avatar Retiree

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.

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avatar Need some money

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..

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avatar Curious1

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.

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avatar John Friedman

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?

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avatar Katherine

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.

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avatar Dar

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 ….

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avatar ourrune

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

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avatar Christie

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

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avatar Need some money

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.

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avatar snowbirdy

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?

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avatar yanqui

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.

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avatar snowbirdy

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

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avatar Dar

theres a major difference !!

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avatar Inquiring Taxpayer

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?

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avatar Luke Landes ♦127,373 (Platinum)

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.

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avatar snowbirdy

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.

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avatar Dar

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 .

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avatar Dar

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 …..

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avatar Richard

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.

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