Tea Bag This: Historic Working Families Tax Cuts Take Effect TODAY
OPS_admin | Apr 15, 2009 | Comments 0
Tea Bag This: Historic Working Families Tax Cuts Take Effect
The size and scope of new tax breaks for working families implemented as part of President Obama’s economic stimulus package are historic. According to data released by the White House today, 95 percent of working families will see a reduction in their tax by $400 for individuals and $800 for households beginning this year.
Many millions more Americans will see additional credits and breaks for everything from purchasing new cars and homes, to child care and college tuition expenses, and for losses and depreciation for small businesses hurting during this recession.
For 2009, a typical family with three children and an annual income of $30,000 would keep as much as $2,172 as part of the president’s tax cut plan. In addition to keeping the $800 for the working families tax cut, known as the Making Work Pay Credit, this family could benefit from new credits for child care expense and a rise in the Earned Income Tax Credit.
A married couple earning a combined $90,000 with one child in college, would save about $1,500 in 2009 through the Making Work Pay Credit and new credits for college tuition expense, according to White House budget office estimates.
via Political Affairs Magazine – Tea Bag This: Historic Working Families Tax Cuts Take Effect.
Filed Under: Economy - Labor
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
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