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Thursday, January 24, 2008

More on the Economic Stimulus Package:

Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the deal. Workers who make at least $3,000 but don't pay taxes would get $300 rebates. The rebates would be limited to individuals whose income is $75,000 or less and working couples with incomes $150,000 or less. The plan would also boost the cap on Fannie Mae and Freddie Mac conforming loan limits.


The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.

I shouldn't complain about a sudden $2100 windfall, but I still don't believe this is a necessary move by our federal government. More likely, it is just a scheme to give the illusion that they're "doing something". We could use a little less scheming and a little more sensibility.

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.: posted by Dave 12:48 PM

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