The Homa Files

Well, the “middle class tax cut for 95% of workers” has officially started hitting paychecks.

So, if you work but earn less than a couple of hundred grand per year, your paycheck is now about a buck-a-day higher — the $400 tax rebate spread across 365 days.

For perspective, the total stimulus bill was about $800 billion.  The Congressional Budget office estimates that about 1/4 of it  (~ $200 billion) will hit in the first year.  The $400 program is about 1/2 of the $200 billion.

In other words, about half of this year’s stimulus is in place. Yipes.

I hope you’re feeling better about this plan than I am.

* * * * *

Want more from the Homa Files?
Click link =>  The Homa Files Blog

This entry was posted on April 7, 2009 at 8:00 am and is filed under Financial Crisis, Gov't Spending, Obama Administration. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.