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Waiting For That $ 13 A Week Obama Tax Cut ?

by @ 11:33 am on February 21, 2009. Filed under Barack Obama, Economics, Politics

Well, you’ll have to wait just a little bit longer:

WASHINGTON (Map, News) – It took only a matter of weeks for the notoriously slow Congress to pass the $787 billion economic stimulus package. President Barack Obama signed it into law less than one month into his presidency.

So when should people hope to start seeing the benefits of tax cuts in it?

By April 1, according to the president.

“Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans,” Obama said Saturday in his weekly radio and Internet address.

He said the Treasury Department has begun directing employers to reduce the amount of taxes withheld from people’s paychecks in accordance with the new law, and that in six weeks, a typical family will start taking home at least $65 more every month.

Obama says his signature “Making Work Pay” tax break will affect 95 percent of working families.

The $400 credit for individuals is to be doled out through the rest of the year. Couples are slated to get up to $800. Most workers are to see about a $13 per week increase in their take-home pay. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

Don’t spend it all in one place.

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4 Responses to “Waiting For That $ 13 A Week Obama Tax Cut ?”

  1. steveegg says:

    My ‘Rat governor (Jim “Craps” Doyle) and ‘Rat Legislature are making sure I spend it in one place – the Wisconsin Department of Revenue. They already have a $1.4 billion tax increase (over 2 1/2 years) rammed through in the name of “stimulus” and “budget repair”, and there’s $2.1 billion more (also over 2 1/2 years) in the next budget.

  2. Pops says:

    Unfortunately it is usually a matter of giving with one hand while taking with the other. Don’t bet on any true relief, be relieved that you got what you got.

  3. [...] Not To Do During A Recession.” Soak the achievers and give absolutely meaningless tax cuts, $13 dollars a week, to the rest of us while the government continues to plunge us further into [...]

  4. [...] out, that “tax cut” amounts to no more than $ 13 per week for the average American, and it didn’t go into effect for most Americans until just a month ago even though the Stimul-Pork Bill passed back in [...]

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