Obama Promises Tax Cuts by Early ’09
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With the economy in a steady down fall, middle and lower class Americans are struggling worse than ever. Many are having to work extra hours or get a second job just to keep food on the table. Though the past year has been a long hard struggle, we may be reaching the light at the end of the tunnel. In keeping with his campaign policies, Barack Obama promise to cut middle class taxes by early 2009. Along with the economic stimulus package, these tax cuts will, as Barack announced last week “going to be putting money in people’s pockets so that they can spend on buying a new computer for their kid’s school, so that they can, make sure that they are able to deal with heat and groceries and all the other strains on the family budget.” Economist say these cuts will also help ensure the creation of 2.5 million new green jobs within the next two years. Another key policy in Obama’s plan to stimulate the economy is the reversal of the Bush tax cuts. These cuts give breaks to individuals make more than 200,000 a year, and to couple making more than 250,000 a years. Yet, Obama realizes a tax increase to anyone in this time of recession is not a good idea and will probably hold off this tax reversal until the economy is stronger. But for most, the stimulus package and middle-low class tax cuts will put more money back into the pockets of average Americas.
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