So Dubya's plan to get us all some extra spending money to "stimulate the economy" has just passed through Congress. Whether or not this will actually make any difference in our slumping markets and the current recession we're going through is up for debate, but here's a rundown of some of the things that are included in this plan:
- Workers making at least $3000, not paying fed. inc. taxes: $300
- Income tax paying individuals: $600
- Working couples: $1200
- People with children: extra $300 per child
- Individuals making $87,000/couples up to $174,000: partial rebates
- Fannie Mae and Freddie Mac loan purchase limits increased to 725,000, a boost from the $362,000 and $417,000 caps, respectively.
- Businesses can write off 50% of purchases of capital equipment
- Small businesses can write off additional equipment purchases
Can a few measly hundred dollars to each federal taxpayer really make a dent in the struggling consumer market that runs our nation?
"I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy. But if it does not, then there will be more to come," Nancy Pelosi said.
Well that's encouraging...
What do you plan on spending your money on? Discuss in the comments.
http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus
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Economic Stimulus Plan
I am going to put my $600 towards Euros and in 3 years and I am going to swap it back to $1200.