Obama's Tax Cuts Go Into Effect

Discussion in 'Current Events' started by Orange_Juice, Feb 21, 2009.

  1. Orange_Juice
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    Orange_Juice Senior Member

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    Obama tells Treasury to begin cutting taxes




    WASHINGTON (Reuters) – President Barack Obama ordered the U.S. Treasury on Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession.

    The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress over Republican opposition. The aim is to put more money in the pockets of Americans and stimulate the economy by increasing consumer spending.

    "I'm pleased to announce that this morning the Treasury Department began directing employers to reduce the amount of taxes withheld from paychecks, meaning that by April 1st, a typical family will begin taking home at least $65 more every month," Obama said in his weekly radio address.
     
  2. editec
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    editec Mr. Forgot-it-All

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    Good news...I suppose.
     
  3. driveby
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    driveby Gold Member

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    Oh neat.......
     
  4. xsited1
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    xsited1 Agent P

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    Tax cuts? Yet more proof the government takes too much of our money.
     
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  5. DavidS
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    DavidS Anti-Tea Party Member

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    Taxes are lower today than they were under Reagan.
     
  6. xsited1
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    xsited1 Agent P

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    Not exactly:

    $taxfreedomday.jpg
     
  7. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    That's a start, I'd like to see another zero behind that 65 tho...

    I like yer avitar Dave. You know there's a place for all Gods' creatures, right next to the mashed potatoes! :lol:
     
  8. Sinatra
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    Sinatra Senior Member

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    NO.

    There have been so many additional taxes added to the overall tax burden, you are paying far more in taxes than back in the Reagan era.

    And more taxes are coming to pay for the porkulus bill...
     
  9. manu1959
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    manu1959 Left Coast Isolationist

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    typical family = 4.........$65......he is spending alomost 50k per person.....where is the other $199,935 going.......
     
  10. manu1959
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    manu1959 Left Coast Isolationist

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    really....which tax are you refering to.....
     

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