Thursday, February 26, 2009

Stimulus breakdown

At $787 billion, the federal stimulus package passed into law this month is enough for $2,500 for every man woman and child in the U.S., give or take a few thousand people.

You won't be getting a check like that, however. But even if you don't get a new "green technology" job or work on an expanded passenger rail capacity or any of the many other trickle-down spending aspects of the package, that doesn't mean you're out in the cold.

So, what's in it for you?

Here are some the parts of the stimulus package that you may see a piece of:
(Note: Links go to search results for more information on each.)

In your paycheck.
Thirteen dollars a week extra in their paychecks courtesy of a tax credit that begins, and this is true, on April Fools' Day. More for couples. No foolin'.

Low-income families that don't make enough to pay income taxes will get a $1,000 tax credit.

At the Realtor.
First-time home buyers who buy before Dec. 1 will get an $8,000 tax credit.

At the dealership.
Car buyers who buy this year can write off the sales taxes.

At the grocery.
People who get food stamps will get more, and the unemployed will see an extra $25 a week.

In the house.
There's a 30 percent tax credit up to $1,500 for those buying high-efficiency air conditioners, heat pumps or furnaces, replacing leaky windows or insulating their attics.

After that, it's all a billion here, a billion there. Pretty soon, it adds up to real money.

Other Links

How the stimulus bill affects you;
Jubak: Feds' plan could work after all;
8 money lessons from the meltdown;
Will the housing bailout help you?

I feel less and less confused about this bailout thing, am tellin' you.

Source: AOL news

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