As the stimulus plan works its way through the Senate, it appears to be losing popularity among US taxpayers. At the end of 2008, taxpayers were clamoring for a stimulus package, although there was not a lot of agreement as to what should be included. So Congress and President Obama went to work. What has come out of that work is, well, not terribly popular.
According to a new CNN poll, a mere 54% of Americans are in favor of the current stimulus bill. That seems fairly in line with my readers who seem, if you believe the comments and the emails, to be fairly split down the middle as to whether the current plan will actually help us – or perhaps hurt us – in the long run.
But now, it’s down to the wire. There have been additions (housing credit, automobile interest deduction) and deletions (spending on Superfunds, NOAA). As the Senate takes its final vote, what do you think?
So for those who oppose….since you are so fiscally reponsible do you have a plan?
As stated in a previous comment I left – we need to encourage stateside manufacturing and such. We’re not going to regain our power as a country if we do not bring the money back here – and the money doesn’t come back unless we’re making and selling things. Tax cuts and incentives to set up and conduct business in the United States. Etc. Generalized spending which will just lead to indebtedness will not help the economy, on the contrary, it will hurt us. Possibly irreparably. Sorry this isn’t be more coherent, I’m typing with a squirmy 1yo in my lap. :-/
Yes, I’m opposed.
Since its a taxpayer bailout and our grandchildren will be paying a good share of it,lets not do anything.
Allow the economy to come back on its own and keep all the bailout monies out of the hands of those who will gouge the system for inflated materials prices,ect.
You can see it coming… as soon as the monies are released all prices will skyrocket including oil.
I’m also sure most of the labor for these created projects will be done by mostly legal and illegal aliens, as was the case in New Orleans. There by not helping the company/white collar types that are currently not employed. You need to understand most of these projects are going to be construction/labor type jobs,as that is what infrastructure is. The cost will be too much for the benefit.
Even the Congressional Budget Office thinks this will be a bad deal. To oppose this spending bill labeled as a stimulus bill, is a no brainer. The longer people have time to see the garbage in this bill, the more they will oppose it. That is why Obama is so angrily defending it and pushing hard for its passage.
If this bill was such a good idea, why does Obama want Republicans to vote for it? He has majorities in both houses of congress. They could push this through if they really wanted.
For Jinny Lee: I have a full proof plan to stimulate the economy. It would immediately put stimulus money into all of our paychecks. We could call it the Income Tax Moratorium Bill of 2009. The bill involves ending federal income tax for 6 mos. This would cost the federal government $0. They wouldn’t have to send out checks or put any “Czar” in charge of the money. Every American that pays federal income tax will get stimulus money. This massive amount of money that will be available to individuals will flow into the economy in one way or another and help lift us out of this recession. After all, all major economists say that in our consumer driven economy, it is consumer spending that has dried up and caused this economic drop off and if we put money in the hands of consumers, they will consume.
If your worried that an income tax moratorium would cause massive budget deficits, it is too late, this “Stimulus Bill” is going to break deficit records. At least my plan gives money immediately to the people w/o borrowing. It would then be up to congress to cut spending like the rest of us have been doing.
If my idea wouldn’t work, then how does this “stimulus bill” have a chance? It is nothing but big government pork.
My biggest concern is just that, with the incredible amount of dollars being thrown at this mess, you KNOW that unscrupulous, greedy folks are going to walk away with a lot of it… and that no one’s gonna care tremendously, because it’s just too hard to keep track of it all. I know there are plans to spend more money on oversight (agency OIGs, etc.), but I don’t think it will be enough to prevent the waste that will accompany the stimulus package.
I’m just concerned with all this talk of spending, most people aren’t looking at the big picture that is going to take place down the road. Our future generations will not be able to work and be success like so many before them. The goverment is going to make sure capitalism doesn’t work in this country. That is what should have the people in this great land revolting against what is going on in Washington. Slowing stripping us of our rights, just a little here and there as not to draw to much attention to whats going on, ie: smoking ban, trans fat ban, cell phones, PC with what we can’t say. My greatest fear is we will all wake up and the land of the free won’t be where we live anymore. We need to wake up America, If we stand by and do nothing, then we have no right to complain, we have no voice to express our angry and outrage. And that is what this white house is counting on!!
Am I understanding this right. we are going to get approx. $13.00 a week in our paychecks,( $400.00) . As income,so we will be paying taxes on this money. It may put us in a higher tax bracket which means we will owe more taxes at the end of the year. And on top of that we have to pay the $400.00 back at the end of the year. Sounds like a tax hike to me.Sounds like we’re giving congress more money to spend. Can I opt out of receiving this money. I say we tax 90% of the pay raise congress gave to them selves recently. That would help.
It’s not more money, it’s the same gross as before and less withholding. For most people, this will not result in tax due.