Been thinking of the big tax credit we are getting. I figured that it works out to 32 cents an hour for the first part and then down to 20 cents an hour for the second part. I know that I will be paying for that $400 over and over again in the future. You think interest rates on credit card charges are bad, just wait to see how much taxes go up for the stimulus package. Don’t forget that Obama said during the campaign that he wanted to go back to Clinton tax rates, which means that that the same group that got the tax credit will see their taxes double in the coming years. Yep, so we get $400 and in the future have to pay double what we pay now. But, while supposedly this is for job creation, I don’t see how the plan will create long lasting jobs in any field except construction (look at how much is going for infrastructure.) But, here is the funniest thing about the whole thing. So, we get this one time money that we will see in a few dollars in our paychecks for the next year. Then, unless we get another one, the increase we saw will be gone. (I am not taking any taxes into consideration with this.) Now, if companies felt secure in the future and did not feel the need to lay off employees and could give their employees raises, we would have gotten about the same amount in a raise that we would keep after the year is up and on top of that future raises would be based on the current raise. So, rather than encourage businesses with the stimulus package, instead we see government handouts that look good for now but will make us need another handout in a year.
And, from a quote I read from Kerry, it appears he said that he is worried that we won’t be able to spend our money the way Congress wants us to spend it. You know they know so much better than we do on how we should spend our money.