Stimulus??

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!