Earlier this afternoon, in Denver, Colorado, President Obama signed the $787 Billion Recovery and Re-Investment act. This is the stimulus plan that he had been pushing Congress to approve for the last few weeks. I applaud the idea of the stimulus plan, we definitely need to get money flowing through our economy once again. In reading through parts of the economic stimulus package, I do have some thoughts:
There is a $400 tax-credit for individual workers. Not to look a gift horse in the mouth, but when we are giving billions of dollars of our tax-payers money to investment firms, banks, and car companies, $400 doesn’t seem like that much. I am always grateful for a tax-break, but if AIG can get $85 Billion, why do I only get $400?
The $1000 child tax credit is being extended to more low-income families; and those families with three or more kids qualify for the Earned Income Tax Credit. I understand that this crisis basically came out of the blue and that people didn’t anticipate this happening, but it seems to me like we are rewarding people for having children that they can’t care for. I have always taken issue with the child tax credit, and believe that people should get the credit for their first three children. I take great offense to those individuals perpetually living on welfare and depleting our social services who feel the need to have many children that we, the tax-payers, foot the bill for. It seems to me that this type of tax-credit is aimed at continually rewarding people like Nadya Suleman, the mother of the octuplets who had 6 other children already.
People who buy a new car before the end of the year can write off the sales tax. I like the idea; it motivates people to make that purchase, and helps the ailing auto-industry. I would like the idea even more if it was limited to AMERICAN cars. Everyone going out and buying a new import won’t help the auto-companies that we’ve agreed to bail out.
Homeowners who make green investments in their homes, such as: energy-efficient windows, air conditioners and furnaces get a $1500 tax-credit. My only question is: how people can afford to make the modifications and improvements when they can barely afford to keep their homes?
The plan includes $9.2 Billion for projects at the Department of the Interior and the EPA. Some of those projects will help cities protect their drinking water supplies and create energy-efficient visitor centers at national parks. I think these are great goals, but I don’t understand how they’re going to stimulate the economy.
There are a few other projects in the bill that I take issue with, but for the most part I am happy that the package was approved and hopefully we can begin the steps to recovery. I am looking forward to the positive outcome that will stem from this stimulus. We need it!
Tuesday, February 17, 2009
Monday, February 09, 2009
California's Economic Collapse
With the economy plunging deeper and deeper, past recession; many Americans are facing depression. The federal economy is failing, and the State economy is non-existent. If the State legislature cannot come up with a solution to our failing state-wide budget, it is my firm belief that they should all be terminated. If the workers of the state are facing lay-offs and pink slips, the legislature should as well. (The Governor included). With economic failure looming in the face of the American worker, more specifically the California Worker; people are frustrated, if not angry, and rightfully so.
In an unprecedented move, the State of California is about to withhold income tax returns and possibly issue IOU's to the California Tax-Payer. Also on the cutting-block are Cal-grants and social services. Perhaps the most important thing that we should not cut funding to is education; and yet, we are facing the possibility of doing just that. There are countless college students who rely on Cal-Grant funding to pay their college expenses; there are plenty of young people who would not attend college if not for the Cal-Grant system. By cutting the funding for the program, we will be cutting funding to the future doctors, lawyers, teachers, artists and work force that will ensure the future prosperity of California. It is always a sad day when budget cuts affect the educational system, and every single one of the state law-makers should be ashamed of themselves for not attacking this budget crisis earlier. We need to hold our State Government accountable for the failures we have seen under their watch. The economic future of California is bleak. We need immediate action to turn our budget around, stop the rising unemployment rate, and provide immediate assistance to those people who have been devastated by this crisis.
In addition to comprehensive reform of our State budget, we also need to develop a better way of dealing with illegal immigration. As a first generation American (paternally), I have no problem with people coming to this country to make a better living for themselves and their families; so long as they do it legally. I do, however, take issue with a vast amount of people coming here illegally, not working, and taking advantage of our resources. We as a people are a giving community, there is no feeling more gratifying than helping someone in need, but we are being taken for granted. Those who come here for hand-outs in medical care, welfare, and subsidized housing ought to be sent right back to wherever it is they came from. We pay taxes for those services to assist our own citizens who are down and out on their luck. To face the possibility of not being able to provide those services to our citizens, because our resources have been depleted by a huge amount of illegal immigrants is despicable. I firmly believe in helping your fellow-man, but I refuse to sit by and watch our economy falter because of it.
California is the 8th largest economy in the world, and right now it is on the brink of collapse. Hopefully in the stimulus package being considered by Congress, there will be some shovel-ready programs for California, so we can get our citizens back up on their feet again. While I do not fully support all of the spending projects in that Economic Stimulus package, I hope that Congress can come to a compromise quickly. We need something to re-energize our work force and provide people with Hope. During the campaign, we heard a great deal of rhetoric about Change and Hope. Well, we have seen a little bit of change, (despite partisan ideology and nominations of tax-cheats and lobbyists) and it would be nice to see the Hope. We need to return to a place where people don’t need to worry about whether or not they can stay in their homes. We need to get back to a place where people need to worry about whether or not they can put food on the table. And, we need to return to a place where we can have faith in the elected officials that we choose to run our country, to do so with our best interests at heart. It will be an uphill battle, but I am confident that we can return to that place.
In an unprecedented move, the State of California is about to withhold income tax returns and possibly issue IOU's to the California Tax-Payer. Also on the cutting-block are Cal-grants and social services. Perhaps the most important thing that we should not cut funding to is education; and yet, we are facing the possibility of doing just that. There are countless college students who rely on Cal-Grant funding to pay their college expenses; there are plenty of young people who would not attend college if not for the Cal-Grant system. By cutting the funding for the program, we will be cutting funding to the future doctors, lawyers, teachers, artists and work force that will ensure the future prosperity of California. It is always a sad day when budget cuts affect the educational system, and every single one of the state law-makers should be ashamed of themselves for not attacking this budget crisis earlier. We need to hold our State Government accountable for the failures we have seen under their watch. The economic future of California is bleak. We need immediate action to turn our budget around, stop the rising unemployment rate, and provide immediate assistance to those people who have been devastated by this crisis.
In addition to comprehensive reform of our State budget, we also need to develop a better way of dealing with illegal immigration. As a first generation American (paternally), I have no problem with people coming to this country to make a better living for themselves and their families; so long as they do it legally. I do, however, take issue with a vast amount of people coming here illegally, not working, and taking advantage of our resources. We as a people are a giving community, there is no feeling more gratifying than helping someone in need, but we are being taken for granted. Those who come here for hand-outs in medical care, welfare, and subsidized housing ought to be sent right back to wherever it is they came from. We pay taxes for those services to assist our own citizens who are down and out on their luck. To face the possibility of not being able to provide those services to our citizens, because our resources have been depleted by a huge amount of illegal immigrants is despicable. I firmly believe in helping your fellow-man, but I refuse to sit by and watch our economy falter because of it.
California is the 8th largest economy in the world, and right now it is on the brink of collapse. Hopefully in the stimulus package being considered by Congress, there will be some shovel-ready programs for California, so we can get our citizens back up on their feet again. While I do not fully support all of the spending projects in that Economic Stimulus package, I hope that Congress can come to a compromise quickly. We need something to re-energize our work force and provide people with Hope. During the campaign, we heard a great deal of rhetoric about Change and Hope. Well, we have seen a little bit of change, (despite partisan ideology and nominations of tax-cheats and lobbyists) and it would be nice to see the Hope. We need to return to a place where people don’t need to worry about whether or not they can stay in their homes. We need to get back to a place where people need to worry about whether or not they can put food on the table. And, we need to return to a place where we can have faith in the elected officials that we choose to run our country, to do so with our best interests at heart. It will be an uphill battle, but I am confident that we can return to that place.
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