Who Benefits From Obama’s Stimulus Bill And Who Is Left Out

History was made early last week when Barack Obama passed and signed a $787 billion dollar package filled with economic rescue for the entire nation. This massive plan covers everything from energy conservation to health care and has the goal of creating more jobs and economic boosters.

Those who are “wage earners”, meaning you don’t get a “salary” will be seeing a $400 tax credit. This will be added to your paychecks. If you earn over 75k per year, you likely wont see any of these credits. If you are buying your first home, you will also receive a hefty tax credit valued at $8,000.

If you are considering a new vehicle purchase, this bill can also help you. Those earning under $125k as a single person will be eligible. This deduction is available on all vehicle purchases that include cars, sport utility vehicles, and trucks.

Other benefits include; help for self-employed, economic add-ons to social security receivers, and tax credits for having a low income family that involves children. Social Security recipients will be looking at a $250 check, and they do not need to apply for anything or send out any papers. All of these benefits are said to add up to help for just about everyone, except for those earning high salaries. Most deductions and tax credits will not include individuals who are earning over $75,000, or $125,000 as a single filer.

In addition to all of those benefits, food stamps will also see a slight increase of about 13.6%. This could make the difference between a meal one night, or no meal. In 2008 taxpayers received generous stimulus payments, but this year you will be seeing your payments divided up amongst your paychecks. You will not be getting one lump sum, so forget about that vacation in Mexico.

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March 6, 2009 | Filed Under Free Money, Stimulus Check 

Comments

4 Responses to “Who Benefits From Obama’s Stimulus Bill And Who Is Left Out”

  1. Cher on March 7th, 2009 6:54 pm

    NOT THAT’S CHANGE WE CAN ALL BELIEVE IN LOL!

  2. Brandy on March 8th, 2009 6:44 pm

    ill tell you how doesnt bennefit me i dont have taxes taken out of my check so how can i bennefit i work shouldnt i recieve this money also im american .No i get notherv while the illegle mexicans and people that dont work live offthe system get a big bonus food stamp people get 13% increase in food budget no oneis increasing my budget for food .I make 10000.00 a year i get zip ! proud to an american .Ha !I am a dem but next im going red !Maybe ill defect to mexico and become a citizen then come into the usa illegelly and get my food stamps and ssi welfare check and medical !that is a good idea ill make better then i do working .join me one and all ! let all defect !

  3. shirley gary on March 23rd, 2009 11:16 am

    how will this help people who are self employed and are still at the low income level?

  4. Hugh Francis Phillips on June 2nd, 2009 10:45 am

    I live on my Social Security in Mexico…receving my benefits each month at a Bank. Am I entitled to the $250.00 stimulus?

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