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How To Understand the Federal Stimulus Package
 
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Watch more Politics 101 videos: http://www.howcast.com/videos/151881-How-To-Understand-the-Federal-Stimulus-Package Our economy's in the worst crisis since the Depression, and we need to turn things around. The government moved fast to pass the Economic Recovery and Reinvestment Plan – $787 billion of investment and tax cuts that will create 3.5 million jobs. Here are the plan's goals. Step 1: Understand the basics Break the cycle. Right now, consumers are worried about the economy. They aren’t spending, so businesses are struggling. When businesses struggle, people lose jobs. When people lose jobs, they cut their spending. It’s a vicious cycle, one that the recovery package aims to break. Step 2: Job creation Create jobs. The most important part of the package is job creation. The plan includes $150 billion to fund clean energy, technology, and infrastructure projects, which will employ millions of Americans looking for work. Step 3: Move toward a green economy Create green jobs, which put people back to work today, and make us more energy independent in the future. The projects in the package include: Modernizing the country’s electrical grid Developing wind turbines, solar panels, biofuels, and advanced vehicle battery systems Investing in clean water, flood control, and environmental restoration And increasing energy-efficiency in homes and offices. Step 4: Improve infrastructure To compete in a 21st-century economy, we also need to provide jobs that help construct a 21st-century infrastructure using 21st-century technology. The plan includes: Upgrading our crumbling roads and bridges Improving public transit and rail systems Modernizing the health-care system for long-term savings Funding biomedical, science, and engineering research And extending broadband services to underserved communities across the country. Step 5: Improve education Improve education to make America more competitive. To increase higher-education opportunities, college students will be eligible for a $2,500 tuition tax credit, $200 million will expand work-study programs, and the maximum Pell Grant – federal aid primarily for low-income students – will increase by $500. The package also provides more than $2 billion for early childhood development, and $13 billion in grants to ensure disadvantaged kids achieve high academic standards. Step 6: Unemployment benefits Help the unemployed, who are bearing the brunt of the economic crisis. Anyone who lost their job won’t have to pay income taxes on the first $2,400 of federal unemployment benefits, and government subsidies will make their health insurance more affordable. The package increases and extends unemployment benefits through 2009 and boosts food stamp benefits to offset rising food costs. Step 7: Tax relief Cut taxes and boost consumer confidence. The stimulus package includes $288 billion in tax cuts. In 2009 and 2010, President Obama’s signature 'Making Work Pay' tax cut will provide most individuals with $400 and most families with $800. Qualified retirees and disabled veterans will get a one-time $250 payment. These cuts ensure that working people pay less taxes, so they have more money to spend. Tip To help pump money into the economy over time, the 'Making Work Pay' tax credits won’t be distributed as a lump sum. Beginning in June, you’ll see an extra $13 in your weekly paycheck, and an extra $8 starting in January 2010. Step 8: Housing and auto credits Boost the housing and auto markets. To help buoy the housing market and stem foreclosures, the tax credit for first-time homebuyers will increase to $8,000. And if you purchase a new car, you can deduct the sales tax. These tax savings will translate into more people buying cars, which will help shore up the auto industry in addition to encouraging consumer spending. Step 9: Send money to states Help all 50 states. The economy can’t bounce back if states can’t balance their budgets, and if states suffer budget shortfalls, they can’t pay for essentials like public safety and other critical services, quality teachers, and school renovations. The package provides more than $50 billion for state services, plus an $87 billion increase in federal funding for Medicaid to states. Step 10: Work together Encourage optimism. We can’t expect the government to solve the financial crisis alone, or overnight. The private sector must contribute to job creation and economic growth. But the stimulus package is the first, critical step to getting our economy back on track. As President Obama said, 'We will turn this crisis into opportunity and emerge from our painful present into a brighter future.' Did You Know? You can find out more details of the stimulus plan, and even track how government money is being spent once the plan kicks
Views: 4796 Howcast
IRS Paid Out $5.6 Billion in Bogus Tax Credits under Obama Stimulus plan
 
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The IRS issued $5.6 billion in potentially bogus education tax credits in a single year -- more than a quarter of all education credits claimed by taxpayers, a government watchdog said Tuesday. A new report by the agency's inspector general says the credits were issued to more than 3.6 million taxpayers in 2012. Most of the credits went to students even though the IRS never received a tuition statement from the school. Some students attended schools that weren't eligible for federal funding while others didn't take enough classes to qualify for the tax break. "The IRS still does not have effective processes to identify erroneous claims for education credits," said J. Russell George, Treasury inspector general for tax administration. George said the IRS has taken some steps to better police the credits, but has not addressed all the deficiencies that George's office identified in a 2011 report. In that report, the inspector general said the IRS issued $3.2 billion in potentially bogus education tax credits in 2010. "As a result, taxpayers continue to receive billions of dollars in potentially erroneous education credits," George said. The IRS said stepped up enforcement was largely responsible for a steep drop in credits issued in 2012. The amount of education credits issued dropped from $23.6 billion in 2011 to $19.1 billion in 2012. The IRS said Congress could help by simplifying the education tax credits and by giving the IRS more tools to validate student eligibility. Congress could also help by restoring budget cuts, the agency said. "Since 2010, the IRS budget has been reduced by nearly $1.2 billion and we expect to have 16,000 fewer employees by the end of this fiscal year," said the IRS statement. "We simply do not have enough resources to audit every questionable credit." "It's also important to note the IRS believes the dollar estimates in this report are overstated, and the methodology could be more accurate," the statement said. "Regardless of this, the IRS believes more can be done in this area and will continue working with Congress and (the IG) to make improvements." There are two main education tax credits. The American Opportunity Tax Credit offers up to $2,500 a year to help pay for tuition and other expenses. Students must be in a program that leads to a degree. Students can claim this credit for up to four years. The Lifetime Learning Credit pays 20 percent of tuition and other education expenses, up to a maximum of $2,000. There is no limit on the number years this credit can be taken and students don't have to pursue a degree. Both credits are available only to students attending schools that are eligible to receive federal student aid. "THIS VIDEO IS FAIR USE UNDER U.S. COPYRIGHT LAW BECAUSE IT IS (1) NON-COMMERCIAL, (2) TRANSFORMATIVE IN NATURE, (3) USES NO MORE OF THE ORIGINAL WORK THAN NECESSARY FOR THE VIDEO'S PURPOSE, AND (4) DOES NOT COMPETE WITH THE ORIGINAL WORK AND COULD HAVE NO NEGATIVE AFFECT ON ITS MARKET."
Views: 186 LSUDVM
President Bush announces what he considers his economic stimulus plan
 
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1. US President George W. Bush walking into Roosevelt Room 2. SOUNDBITE: (English) George W. Bush, U.S. President: "After careful consideration, and after discussions with members of Congress, I have concluded that additional action is needed. To keep our economy growing and creating jobs, Congress and the administration need to work to enact an economic growth package as soon as possible." 3. Bush speaking 4. SOUNDBITE: (English) George W. Bush, U.S. President: "This growth package must be big enough to make a difference in an economy as large and dynamic as ours - which means it should be about 1 percent of GDP (gross domestic product). This growth package must be built on broad-based tax relief that will directly affect economic growth - and not the kind of spending projects that would have little immediate impact on our economy. This growth package must be temporary and take effect right away." 5. Wide of Bush speaking 6. SOUNDBITE: (English) George W. Bush, U.S. President: "To be effective, a growth package must also include direct and rapid income tax relief for the American people. Americans could use this money as they see fit - to help meet their monthly bills, cover higher costs at the gas pump, or pay for other basic necessities. Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less." 7. Zoom in on Bush speaking 8. SOUNDBITE: (English) George W. Bush, U.S. President: "By passing an effective growth package quickly, we can provide a "shot in the arm" to keep a fundamentally strong economy healthy. And it will help keep economic sectors that are going through adjustments, such as the housing market, from adversely affecting other parts of our economy." 9. Wide of Bush and officials leaving room STORYLINE: US President George W. Bush, acknowledging the risk of recession, embraced about 145 (b) billion US dollars worth of tax relief on Friday to give the US economy a boost. Bush said such a growth package must also include tax incentives for business investment and quick tax relief for individuals. He outlined several criteria for the package to meet. Bush said that to be effective, "This growth package must be big enough to make a difference in an economy as large and dynamic as ours - which means it should be about 1 percent of GDP (gross domestic product)" - the value of all US goods and services and the best measure of the US' economic standing. "This growth package must be built on broad-based tax relief that will directly affect economic growth - and not the kind of spending projects that would have little immediate impact on our economy," Bush said. "This growth package must be temporary and take effect right away." The president and Congress are scrambling to take action as fears mount that a severe housing slump and painful credit crisis could cause people to close their wallets and businesses to put a lid on hiring, throwing the world's largest economy into its first recession since 2001. The state of the economy has become a major topic in the US presidential campaign, replacing the Iraq war. Bush said that Congress and the administration need to settle on a temporary economic package that could be implemented quickly to "keep our economy growing and create jobs." "Letting Americans keep more of their money should increase consumer spending," he said. Specifically, he called for tax incentives for businesses, including small companies, to make new and major investments this year. He also called for tax relief for individuals - probably to come in the form of one-time rebates. Nor did Bush detail how the US would pay for such a plan. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/b353ba132391c19a0ab60edfeffb88ec Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 132 AP Archive
President Hoover's 1931 stimulus plan
 
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"Some of the reactionary economists urged that we should allow the liquidation to take its course until we had found bottom.... We determined that we would not follow the advice of the bitter-end liquidationists and see the whole body of debtors of the United States brought to bankruptcy and the savings of our people brought to destruction...Instead we met the situation with proposals to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of the Republic." -Hoover (Wikipedia) Hoover confronted a world of political possibilities when he returned home in 1919. Democratic Party leaders looked on him as a potential candidate for President, and President Wilson privately preferred Hoover as his successor. "There could not be a finer one," asserted Franklin D. Roosevelt, then a rising star from New York. Hoover briefly considered becoming a Democrat, but he believed that 1920 would be a Republican year. A self-described progressive and reformer, Hoover saw the presidency as a vehicle for improving the conditions of all Americans by encouraging public-private cooperation—what he termed "volunterism". Long before he had entered politics, he had denounced laissez-faire thinking.[32] At the outset of the Depression, Hoover claims in his memoirs that he rejected Treasury Secretary Andrew Mellon's suggested "leave-it-alone" approach, and called many business leaders to Washington to urge them not to lay off workers or cut wages. Congress, desperate to increase federal revenue, enacted the Revenue Act of 1932, which was the largest peacetime tax increase in history.[52] The Act increased taxes across the board, so that top earners were taxed at 63% on their net income. The 1932 Act also increased the tax on the net income of corporations from 12% to 13.75%. The final attempt of the Hoover Administration to rescue the economy occurred in 1932 with the passage of the Emergency Relief and Construction Act, which authorized funds for public works programs and the creation of the Reconstruction Finance Corporation (RFC). The RFC's initial goal was to provide government-secured loans to financial institutions, railroads and farmers. The RFC had minimal impact at the time, but was adopted by President Franklin D. Roosevelt and greatly expanded as part of his New Deal. Even so, New Dealer Rexford Tugwell[56] later remarked that although no one would say so at the time, "practically the whole New Deal was extrapolated from programs that Hoover started." "For three long years," Roosevelt said in accepting his party's nomination, "I have been going up and down this country preaching that government . . . costs too much. I shall not stop that preaching." FDR campaigned in 1932 on a platform of slashing the size and cost of government, and of ending the "reckless and extravagant" spending of Herbert Hoover. Stop that preaching he didn't. He accused Hoover of presiding over "the greatest spending administration in peacetime in all our history . . . an administration that has piled bureau on bureau, commission on commission." He slammed the Republican's record of "reckless and extravagant" spending, and of thinking "that we ought to center control of everything in Washington as rapidly as possible." He mocked those who thought "a huge expenditure of public funds" was the best way to grow the economy of succumbing "to the illusions of economic magic." His running mate, Texas Congressman John Nance Garner, even warned that Hoover was "leading the country down the path of socialism." - Jeff Jacoby "Unemployment Relief" Recorded October 18, 1931 Full speech at The Authentic History Center Transcript at: http://www.presidency.ucsb.edu/ws/?pid=22855#axzz1wcDOCsEQ
Views: 25649 guyjohn59
Trump's Protest Based Stimulus Plan
 
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The Trump administration is working hard to make America great again, by bringing jobs and opportunity back to our shores. Written and Produced by Austin Bragg Subscribe to our YouTube channel: http://youtube.com/reasontv Like us on Facebook: https://www.facebook.com/Reason.Magazine/ Follow us on Twitter: https://twitter.com/reason Subscribe to our podcast at iTunes: https://goo.gl/az3a7a
Views: 14750 ReasonTV
What The Stimulus Plan Means For Your Taxes
 
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KMBC's Kris Ketz talks with H&R Block's Amy McAnarney.
Views: 80 KMBC 9
Anthony Perrelli and WGN News Discuss the Federal Stimulus Package Tax Blunder
 
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A Treasury report released in November states that more than 15 million taxpayers who received stimulus money may owe some of it back to the IRS this year. WGN interviewed Anthony Perrelli about the issue in a live news segment November 17, 2009. Perrelli states that the people most affected are: 1. People with two or more jobs 2. Married couples in which both people earn a living 3. Students who work and are also dependents 4. Retirees receiving both social security and taxable income If you fall into one of these categories, visit www.irs.gov to recalcuate your tax withholdings. Visit www.cutyourtax.com for more tax planning information.
Views: 121 CutYourTax
Pawlenty Stimulus Plan for Millionaires
 
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Thom debates with David Selig, Conservative Commentator / Federal Tax practitioner & advocate / Fox News Contributor, on Pawlenty's stimulus plan for millionaires If you liked this clip of The Thom Hartmann Program, please do us a big favor and share it with your friends... and hit that "like" button! http://www.thomhartmann.com Follow Us on Twitter: http://www.twitter.com/thom_hartmann Subscribe to The Thom Hartmann Program for more: http://www.youtube.com/subscription_center?add_user=thomhartmann
Milton Friedman - The Negative Income Tax
 
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In this 1968 interview, Milton Friedman explained the negative income tax, a proposal that at minimum would save taxpayers the 72 percent of our current welfare budget spent on administration. http://www.LibertyPen.com Source: Firing Line with William F Buckley Jr. Buy It : http://www.amazon.com/Firing-Line-William-Buckley-Jr/dp/B004SQFQL0/ref=sr_1_2?ie=UTF8&qid=1336999966&sr=8-2
Views: 330686 LibertyPen
Tax Cuts, Not Stimulus Checks, Will Help the Economy
 
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Bill Beach, director of Heritage's Center for Data Analysis, discusses the pros and cons of an economic stimulus package, during an interview on PBS' NewsHour.
Fiscal Policy and Stimulus: Crash Course Economics #8
 
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In which Jacob and Adriene teach you about the evils of fiscal policy and stimulus. Well, maybe the policies aren't evil, but there is an evil lair involved. In this episode we learn how government use taxes and spending influence the economy. Sometimes the government gives, and sometimes it takes. And the giving and the taking can have a profound effect on how economies behave. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark , Elliot Beter, Moritz Schmidt, Jeffrey Thompson, Ian Dundore, Jacob Ash, Jessica Wode, Today I Found Out, Christy Huddleston, James Craver, Chris Peters, SR Foxley, Steve Marshall, Simun Niclasen, Eric Kitchen, Robert Kunz, Avi Yashchin, Jason A Saslow, Jan Schmid, Daniel Baulig, Christian , Anna-Ester Volozh Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 859045 CrashCourse
IRS announced tax rebate calendar
 
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One attempt to get the economy back on track is the economic stimulus plan
Views: 9224 FOX10 News - WALA
The Trump Stimulus package - Uncle Hotep chimes in
 
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I discuss the Trump Stimulus package and how African Americans can take advantage. Patreon https://www.patreon.com/UncleHotep Listen to my Podcast and follow me on Twitter podcast https://soundcloud.com/handymayhem twitter https://twitter.com/handymayhem http://hotepnation.com/shop/ http://unclehotep.storenvy.com
Views: 1906 Handy Mayhem
Pelosi On Economic Stimulus Plan
 
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House Speaker Nancy Pelosi tells Maggie Rodriguez that she has confidence in the economic stimulus package. Pelosi says that it will work better than tax cuts because the government would be investing in the American people.
Views: 1669 CBS News
How to gain from the stimulus package
 
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USA TODAY personal finance reporter Sandra Block answers common questions about the tax relief offered in the recently passed stimulus package. For more tax tips, go to usatoday.com/money
Views: 270 USA TODAY
Corporate tax cut the biggest economic stimulus in Trump's tax plan?
 
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Former Cato Institute CEO John Allison on the push for tax reform and its potential economic impact.
Views: 367 Fox Business
Tax Grants Stimulus Plan - Get Your Free Government Grant
 
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http://Grants.admiral-ltda.com http://Stimulus.admiral-ltda.com tax deduction, free grants, medical bill debt,small business grants, college aid, healthcare grants
Views: 242 PublicidadADM
What do you need to do to make sure you get your economic stimulis check from the government?  The I
 
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HEADLINE: Q&A: When will I get my economic stimulus payment? --------------------------------------- CAPTION: Linda Stiff, Acting Commissioner of the Internal Revenue Service answers questions about how the federal economic stimulus payments will be made. (March 1) ---------------------------------------- [Notes:ANCHOR VOICE] (LINDA STIFF/ACTING IRS COMMISSIONER) Q: WHO WILL RECEIVE A STIMULUS PAYMENT? 15;42:29 INDIVIDUALS WHO FILE TAX RETURNS IN 2007 ARE GOING TO BE ELIGIBLE TO RECEIVE THEIR STIMULUS PAYMENTS. INDIVIDUALS THAT ARE FILING SINGLE ARE GOING TO BE ELIGIBLE TO RECEIVE AS MUCH AS $600 AND THOSE WHO FILE JOINT WILL RECEIVE $1200 IN STIMULUS PAYMENT. ADDITIONALLY, FOR EACH QUALIFYING CHILD YOU CAN RECEIVE UP TO AN ADDITIONAL $300 PER CHILD. THERE IS ANOTHER GROPU OF TAXPAYERS WHO AREN'T ORDINARILY REQUIRED TO FILE TAX RETURNS WHO MAY NOT OWE ANY TAXES, AND THESE GENERALLY WILL APPLY TO RECIPIENTS OF SOCIAL SECURITY BENEFITS, RECIPIENTS OF VETERAN'S BENEFITS, RAILROAD RETIREMENT BOARD AND LOW INCOME WORKERS, WHO DON'T GENERALLY RICE TO A THRESHOLD IN TERMS OF THEIR INCOME TO HAVE TO FILE A TAX RETURN OR PAY ANY TAXES. WE NEED THEM TO COME IN AND FILE A SIMPLE FORM WITH US THIS YEAR IN ORDER THAT THEY TOO CAN RECEIVE THEIR STIMULUS PAYMENTS. Q: WHEN CAN PEOPLE EXPECT THEIR STIMULUS PAYMENTS? 15:46:08 WE'RE GOING TO TELL TAXPAYERS THAT WE'RE GOING TO BEGIN SENDING STIMULUS PAYMENTS BY DIRECT DEPOSIT ON MAY 2ND AND THEN THEY WILL BEGIN THE PROCESS OF RECEIVING PAPER CHECKS THE FOLLOWING WEEK, BUT TO ENSURE THAT EVERY TAX PAYER ISN'T LEFT IN THE DARK, AND THEY'RE NOT HAVING TO SEARCH OUT SOME DATABASE TO SEE IF THEIR CHECKS HAVE COME, WE'RE GOING TO BE SENDING THEM A PERSONAL NOTICE DEAR MR. AND MRS. TAXPAYER YOUR STIMULUS CHECK IS EITHER INT HE MAIL IN THE AMOUNT OF AND WE'LL SPECIFY THAT AMOUNT, OR WE DEPOSITED INTO YOUR BANK ACCOUNT A STIMULUS PAYMENT IN THE AMOUNT OF AND WHAT IT WAS. 49 Q: HOW CAN I FIND OUT MORE ABOUT STIMULUS PAYMENTS? 15:47:40 WE URGE ANYONE WHO HAS QUESTIONS OR IS TRYING TO DETERMING IF THEIR ELIGIBLE FOR THE STIMULUS PAYMENT, DO THEY QUALIFY FOR THE STIMULS PAYMENT TO GO TO IRS.GOV OUR WEBSITE HAS INFORMATION, IT HAS SAMPLE FORMS, IT HAS FREQUENTLY ASKED QUESTIONS AND SOMETIME HERE IN THE NEXT FEW WEEKS IT'S GOING TO HAVE A CALCULATOR THAT WILL ASSIST TAXPAYERS IN DETERMINING THEIR ELIGIBILITY AND THE SIZE OF THEIR PAYMENT. 09 You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/743ba2ab20674d3c96eb04792b09288d Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 182 AP Archive
An Alternative to Obama's Economic Stimulus Plan
 
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Bill Beach, director of Heritage's Center for Data Analysis, explains that aggressive tax relief would create or protect 3 million jobs between 2009-2011.
Obama on economic crisis, stimulus package in weekly address
 
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(7 Feb 2009) SHOTLIST 1. GRAPHIC: (English) "Your weekly address - February 7, 2009 2. SOUNDBITE: (English) Barack Obama, US President: 3. GRAPHIC: (English) "www.whitehouse.gov" STORYLINE: With the Senate moving toward a tenuous compromise on the White House's economic stimulus plan, President Barack Obama hammered at the urgent need to pass a bill that will jump-start the struggling economy and put people back to work. "Americans across this country are struggling, and they are watching to see if we're equal to the task before us. Let's show them that we are. And let's do whatever it takes to keep the promise of America alive in our time," Obama said Saturday in his weekly radio and Internet address. Obama made an aggressive push for House and Senate lawmakers to work quickly to resolve their differences in an economic bill whose pricetag has swung from 720 (b) billion upward toward a (tr) trillion dollars. The new president had hoped to sign economic legislation on his first day in office, but instead has spent his first three weeks in office wrangling with a reluctant Congress, including fellow Democrats, to heed his leadership. He started his address by making reference to the loss of on estimated 3.6 (m) million jobs since the beginning of the recession but quickly spoke about the legislative victory he scored on Friday when Senate Democrats reached agreement with a small group of Republicans on an economic stimulus package. "Democrats and Republicans came together in the Senate and responded appropriately to the urgency this moment demands," said Obama. "The scale and scope of this plan is right. And the time for action is now." Democratic leaders expressed confidence the concessions they had made to Republicans and moderate Democrats to trim the measure had cleared the way for its passage. No final vote was expected before Monday. Officials put the cost of the stimulus bill at 827 (b) billion US dollars, including Obama's signature tax cut of up to one-thousand US dollars for working couples, even if they earn too little to pay income taxes. Also included are breaks for homebuyers and people buying new cars. Much of the new spending would be for victims of the recession, in the form of unemployment compensation, health care and food stamps. The agreement announced on Friday night capped a tense day of backroom negotiations in which Senate Majority Leader Harry Reid, joined by White House chief of staff Rahm Emanuel, sought to attract the support of enough Republicans to pass the measure. Democrats hold a 58-41 majority in the Senate, including two independents, but it takes 60 votes to pass the bill because it would raise the federal deficit. Earlier in the week Obama had ratcheted up the pressure on lawmakers as a new jobs report posted the worst results in a generation, 598-thousand positions lost in January and the US unemployment rate rising to 7.6 percent - the highest since September 1992. While the Democrats' majority in the House of Representatives allowed them to pass their 819 (b) billion US dollars version of the stimulus package even though they won no Republican support, Senate passage had proved far more difficult. If the plan passes in the Senate, both versions would have to be reconciled and more changes could still come. Obama and his advisers have grown more assertive in recent days, reminding Democrats that voters gave them the White House, the House and the Senate to bring change, not partisan gamesmanship. "That was, after all, what last November's election was all about." Republicans characterised Obama's rhetoric as arrogant. They have pushed for the bill to include more tax cuts and less spending. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/35408e9eacf4e4f2a0d33edef84cdd1d Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 383 AP Archive
The Truth Behind the Trillion-Dollar Stimulus, the Biggest Economic Recovery Plan in History (2012)
 
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The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111--5), commonly referred to as the Stimulus or The Recovery Act, was an economic stimulus package enacted by the 111th United States Congress in February 2009 and signed into law on February 17, 2009, by President Barack Obama. To respond to the Great Recession, the primary objective for ARRA was to save and create jobs almost immediately. Secondary objectives were to provide temporary relief programs for those most impacted by the recession and invest in infrastructure, education, health, and renewable energy. The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019.[1] The Act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and expansion of unemployment benefits and other social welfare provisions. The rationale for ARRA was from Keynesian macroeconomic theory, which argues that, during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic deterioration. Shortly after the law was passed, however, Keynesian economist and Nobel laureate Paul Krugman while supportive of the law, criticized the law for being too weak because it did not "even cover one third of the (spending) gap". Economists such as Martin Feldstein, Daron Acemoğlu, National Economic Council director Larry Summers, and Nobel Memorial Prize in Economic Sciences winners Joseph Stiglitz[54] and Paul Krugman[55] favored large economic stimulus to counter the economic downturn. While in favor of a stimulus package, Feldstein expressed concern over the act as written, saying it needed revision to address consumer spending and unemployment more directly.[56] Just after the bill was enacted, Krugman wrote that the stimulus was too small to deal with the problem, adding, "And it's widely believed that political considerations led to a plan that was weaker and contains more tax cuts than it should have — that Mr. Obama compromised in advance in the hope of gaining broad bipartisan support."[57] Conservative economist John Lott was more critical of the government spending.[58] On January 28, 2009, a full-page advertisement with the names of approximately 200 economists who were against Obama's plan appeared in The New York Times and The Wall Street Journal. The economists denied the quoted statement by President Obama that there was "no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy". Instead, the signers believed that "to improve the economy, policymakers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth."[59] The funding for this advertisement came from the Cato Institute.[60] On February 8, 2009, a letter to Congress signed by about 200 economists in favor of the stimulus, written by the Center for American Progress Action Fund, said that Obama's plan "proposes important investments that can start to overcome the nation's damaging loss of jobs", and would "put the United States back onto a sustainable long-term-growth path".[61] This letter was signed by Nobel Memorial laureates Kenneth Arrow, Lawrence R. Klein, Eric Maskin, Daniel McFadden, Paul Samuelson and Robert Solow. The New York Times published projections from IHS Global Insight, Moody's.com, Economy.com and Macroeconomic Advisers that indicated that the economy may have been worse without the ARRA. http://en.wikipedia.org/wiki/Stimulus_Bill_of_2009 Image by Jürgen from Sandesneben, Germany (Flickr) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Views: 2847 The Film Archives
Community Tax Center 2008 IRS stimulus Package Day 03.28.200
 
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Free Tax Return Preparation For You by Volunteers! Trained community volunteers can help you with special credits, such as Earned Income Tax Credit (EITC), Child Tax Credit, and Credit for the Elderly for which you may qualify. The VITA Program offers free tax help to low- to moderate-income (generally, $40,000 and below) people who cannot prepare their own tax returns. Certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing. To locate the nearest VITA site, call 1-800-829-1040. or www.irs.gov you may want to visit a volunteer site: www.foundacomnorthtexas.org or call you local IRS office for a site near you. Are you ready to volunteer? Thank you for your interest in being a volunteer for the Community Tax Centers.If you would like to be added to the list for the 2008 tax season please e-mail the Volunteer Coordinator, Franziska Gonzalez actc.volunteer@gmail com
Views: 224 shadowbrookvita
Stimulus Impact in Vermont
 
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Sen. Sanders issued a report on the impact of the stimulus package on Vermont finding it had cut federal taxes for nearly every Vermonter and helped save or create 7,000 jobs.
Unemployed? What's in the Obama Stimulus Package for You
 
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We breakdown the economic stimulus package in detail to find out exactly who gets what. Here's how the government stimulus package benefits the unemployed.
Views: 5403 Money Talks News
Obama Stimulus Plan
 
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Obama Stimulus Plan
Views: 1107 Ron Citizen
Economic Stimulus Package Explained
 
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Congressional leaders and President George W. Bush are talking about what tax breaks and other measures should be contained in an economic stimulus package.
Views: 14090 KCRA News
Economic Stimulus Package is a Bad Idea
 
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Watch more at http://www.theyoungturks.com
Views: 4129 The Young Turks
Donald Trump Tax Plan - President Elect Donald Trump Personal Income Stimulus Plan!
 
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Donald Trump Tax Plan - President Elect Donald Trump Personal Income Stimulus Plan! http://trkur2.com/52807/31636 Speaking at an exclusive press conference today, Mrs. Clinton dropped a bombshell that has the Trump Presidential transition team scrambling. "It's no secret that the Average American is earning less today than they were before the 2008 recession." Stated Mrs. Clinton. "The reason is simple. There are people who know how to make money very easily, and they've rigged the system for themselves without sharing their secrets with people who really need it." Donald Trump Tax Plan - President Elect Donald Trump Personal Income Stimulus Plan! "It's time that people realized the amazing potential the American people have to create income for themselves and their families. The truth is, the average American can double or even triple their income today without making any changes to their current lifestyle." Mrs. Clinton went on. http://trkur2.com/52807/31636 Donald Trump Tax Plan - President Elect Donald Trump Personal Income Stimulus Plan! "We've seen the power of the internet to spread false narratives and distort elections. The truth is, the billionaire class in this country and around the world have created a system on the internet that makes generating massive amounts of income very easy." http://trkur2.com/52807/31636 Donald Trump Tax Plan - President Elect Donald Trump Personal Income Stimulus Plan! "Finally, a program exists that allows average, every day people, working class people, to take advantage of that same system. Working class people can finally fight back against the billionaire class in this country and make real, life-changing incomes for themselves." http://trkur2.com/52807/31636 Related Hashtags: #donaldtrump #donaldtrumpmemes #donaldtrump2016 #donaldtrumph #donaldtrumpwealth #donaldtrumpsucks #donaldtrumpshit #donaldtrumphair #donaldtrumpisanidiot #donaldtrumpshair #donaldtrumpisajoke #donaldtrumps #donaldtrumppiñata #donaldtrumph #donaldtrumpjr #donaldtrump_arts #donaldtrumpforpresident #donaldtrumpmeme #donaldtrumpjokes #donaldtrumpwantstobanghisdaughter #donaldtrump2k16 #donaldtrumpface #donaldtrumpwins #donaldtrumprally #donaldtrumpisgay #donaldtrumpiscool #donaldtrump2017 #donaldtrumpet #donaldtrump2020 #donaldtrumpprotest #donaldtrumptreason https://youtu.be/IpaaRFZljfk
Ron Paul: Suspend The Income Tax For 3-4 Years! (CNBC 1/2)
 
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http://www.RonPaul.com In his appearance on CNBC's Squawk Box this morning, Ron Paul talked briefly about his CPAC Presidential Straw Poll victory, his intentions for 2012, and his growing support among young people. The Congressman offered an affordable alternative to the government's wasteful bailouts and stimulus plans: simply suspend the income tax for 3 or 4 years and let the people decide how the money is spent. He explained that monetary policy and foreign policy can't be separated because the Federal Reserve is the chief enabler of foreign adventures and aggressive wars. (Foreign policy discussion continues in Part 2) For more information visit the following sites: http://www.RonPaul.com http://www.CampaignForLiberty.com http://www.house.gov/paul http://www.DailyPaul.com http://www.RonPaulForums.com
Views: 33834 RonPaul2008dotcom
Economic Stimulus
 
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Economic Stimulus | Economic Stimulus Act of 2008 http://economicstimulus.org/economic-stimulus-act-of-2008/ One of the main responses to the financial collapse and Great Recession of 2008 was the American Recovery and Reinvestment Act of 2009 (ARRA), better known as President Obama's stimulus plan. The debate over the law was quite contentious as Republicans, still stung by their defeat during the 2008 election used the new spending in the stimulus law to rally their conservative base. With Democrats in control of the White House and both houses of Congress the Republican opposition was no obstacle so on February 17, 2009, President Obama signed the legislation making it the first major legislation of his administration. Almost immediately the stimulus law became a political lightening rod and both parties developed their positions as far as the stimulus was concerned. Democrats played up the fact that the ARRA was passed to jump start the economy and create jobs and Republicans positioned themselves against the $800 billion added to the national debt and used the stimulus as a rallying cry headed into the 2012 midterms. The primary objective of the ARRA was to save and create jobs immediately at a time when the US economy was losing over 700,000 jobs per month. A secondary goal was to invest in programs that had gone unfunded like infrastructure, green energy, health and education. Specifically, the Act included increased spending for infrastructure projects, education, health, and energy. It also included federal tax incentives, an expansion of unemployment benefits and other social welfare programs. Since we are talking about Congress the Act also included many spending programs that were more long term and had very little to do with immediate jobs growth. The ARRA was based on the Keynesian economic principles that most Democrats subscribe to. This economic philosophy says that in times of recession or other economic peril it is the governments job to spend money to make up for the lack of spending in the private sector. When the government does this the increased federal spending keeps the economy going until the private sector can get back on its feet. The philosophy even goes as far as saying that the government should make work with the famous story that the government should hire workers to dig a hole and then hire them to fill it up again just to generate economic activity. Some very liberal economists actually complained that the Act was not Keynesian enough and didn't spend enough money to make a difference. When the bill passed Congress and was signed by the President it immediately went into effect. The cost of the Act included both new spending and the cost of tax cuts and breaks. On the spending side, the Act cost roughly $550 billion with most of the money going to new infrastructure (what President Obama called "shovel-ready" jobs), aid to low income individuals and the unemployed. Education spending including the No Child Left Behind program, energy incentives like subsidizes for homeowners who weatherized their homes and healthcare, especially an infusion of money into the COBRA program for unemployed Americans. On the tax side there were numerous new tax credits, a $250 payout to Social Security recipients, expanded earned income tax credits, college tuitions credits, homebuyer credits, home energy credits and expanded child credits. The total cost of the tax adjustments was roughly $250 billion. The long term impact of the stimulus is hard to determine. The President argues it saved the country from another Great Depression while Republicans argue it added almost a trillion dollars to the deficit and unemployment still hovers near 8% meaning that if the main goal of the stimulus was to save and create jobs it was a failure. Politically both sides continue to use the stimulus against each other and the fact that it's impact is hard to determine means that both sides have an argument to make. Economic Stimulus | Economic Stimulus Act of 2008 http://economicstimulus.org/economic-stimulus-act-of-2008/ http://youtu.be/W6dnyMAn1EU
Views: 362 EconomicStimulus2
Economic Stimulus Package Rebate Payment
 
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Those receiving social security and veterans disability benefits may be eligible to receive a stimulus package payment if their total income is at least $3,000 and not exceed the maximum income limit. TaxPlus www.1040.com/qt
Views: 495 TaxPlus
Economic Stimulus - How Does It Affect Your Paycheck?
 
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You may need to adjust your tax withholding to ensure you don't owe tax to the IRS this year. Watch to learn how President Obama's Economic Stimulus plan will affect your paycheck
Economic Stimulus Plan | Tax School | Tax Education | Liberty Tax Service
 
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With widespread tax changes due to the economic stimulus package, students attending Liberty Tax Services fall tax school will have the opportunity to examine them closely for personal tax savings. For more information please visit http://www.libertytax.com/tax-education.html or call (800) 658-1042.
Views: 325 Liberty Tax
Tax time and the stimulus package, Henry Review, budget et al
 
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Phil Grant, Managing Partner at full service Melbourne accounting firm, Nexia ASR explains his take on the effect of the stimulas package on business tax returns, plus also wraps up on the Henry Review, 2010 Federal Budget and the Cooper Review.
Views: 32 NicheContent
Trumps stimulus package is brilliant
 
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A real stimulus package would jumpstart the Boom coming towards us. Putting America to work, works.
Views: 490 Mason Weaver
Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression
 
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The Congressman also appeared on MSNBC this morning to discuss the same issue. One commentator suggested that Paul's analysis was misguided because "The house is already on fire" and something must be done to put it out. "You are correct, the house is on fire," Paul fired back, "and you think you're putting water on it, but I think you are pouring kerosene on it." he added. "We got into this mess by spending too much, borrowing too much and inflating too much. Government was too big and we had too many regulations. We had rejected the market economy for decades, we have rejected the notion of sound money for decades, and we got into a mess this way. So what is the proposal? Spend more money, borrow more money, print more money, regulate more, it makes no sense whatsoever." Paul asserted. The Congressman suggested that a more sound approach to the crisis would be to abolish income tax and business tax to get Americans spending, whilst simultaneously cutting overseas spending to cover revenue losses. "But the problem is no one wants to cut the American Empire," Paul explained. "Even Obama's administration wants to increase spending overseas and increase military spending. As long as you want to run the world empire at a trillion dollars a year, believe me you cannot solve this problem." he added.
Views: 27141 drp199023
Obama Stimulus Plan Faces Changes in Senate
 
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A top Republican called for more mortgage relief and additional tax cuts in President Barack Obama's massive economic stimulus package as Democrats conceded privately they will drop items that have drawn bipartisan criticism. (Feb. 2)
Views: 4358 Associated Press
Ron Paul On The Stimulus Plan
 
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Ron Paul On The Stimulus Plan. Ron Paul With Dick Armey talk about spending in congress and Obama and his stimulus package.
Views: 372 RonPaulArchives
One Year After The Stimulus: Less Jobs, More Taxes, Bigger Government
 
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http://www.RonPaul.com One year after the launch of Obama's stimulus package it has become painfully obvious that the stimulus's declared goals have all failed: Unemployment has grown to 10%, the economy is worse off, and tax hikes are on the way. Only one thing was stimulated: big government - it is much bigger and more destructive now. And as always when government policies fail, the politicians behind it will claim that the idea was sound but that they simply didn't spend enough money. And that's why there's now a $100 billion "jobs bill" in the works... Ron Paul is America's leading voice for limited constitutional government, low taxes, free markets, and a return to sound monetary policies. For more information visit the following sites: http://www.RonPaul.com http://www.CampaignForLiberty.com http://www.house.gov/paul http://www.DailyPaul.com http://www.RonPaulForums.com
Views: 5645 RonPaul2008dotcom
First Time Home Buyer Grant and Federal Stimulus $8000 Tax Credit Info
 
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Here's a video regarding regarding first time home buyer grants in each State and the Federal stimulus program. http://www.buying-your-first-home.com. http://screenr.com/60S
Views: 2407 Steph C
Benrie Sanders Discusses the Economic Stimulus Package
 
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Senator Sanders voted against the bail out because we didn't know what we were getting. He voted against confirming Geitner because the new Sec of T was one of the people who made this mess. But he said today on Democracy Now! that he is going to support the stimulus package because it makes large investments in infrastructure, education, and the poor and middle class. His point of view is a welcome break from the partisan Republicans who repeat the same thin complaints over and over. If the Republicans were serious, they would be offering a vision of America that includes more than tax cuts for rich and spending cuts for the rest of us. http://www.theysaynothing.com
Views: 126 TheySayNothing
You Can Still Get Your Tax Rebate: File 1040-A by October 15
 
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American Sign Language video from the Internal Revenue Service (IRS). You can still get your tax rebate from the economic stimulus package passed by Congress in early 2008. You've got until October 15th to file a 1040-A with the IRS to ensure you get your payment. Visit IRS.gov for more information.
2009 Economic Stimulus Check, Stimulus Package 2009
 
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2009 Economic Stimulus Check, Stimulus Package 2009 http://www.harborfinancialonline.com Information you might need about the 2008 Economic Stimulus Package. 2009 Economic Stimulus Check, Stimulus Package 2009
Views: 481 HarborFinancial
We The People Stimulus Package!!
 
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This Video is outstanding!..Every idea layed out here is excellent!..This vid should be watched by all true tax paying Americans!..We need to take our country back!!!
Views: 8772 WiseGuy5674
Ron Paul: Fewer Taxes for Real Economic Stimulus 4/13/09
 
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http://www.house.gov/paul http://CampaignForLiberty.com Congressman Ron Paul talks about his continued fight to lower our taxes in this Texas Straight Talk from April 13, 2009 (which is now "Tax Freedom Day"). "Taxes are the issue this week as Americans struggle to make the April 15th deadline to file their returns. It is a good time to contemplate the effects of big government and what it does to our country. The income tax is one of the most egregious encroachments on our liberties today. It is a form of involuntary servitude, which was supposed to have been outlawed by the 13th Amendment. "Tax Freedom Day is defined as the day when the nation as a whole has theoretically earned enough income to fund its annual federal tax burden. For all of the days of the year before this day, you are a slave to government. For 2009, Tax Freedom Day will come on April 13th. Almost a century ago in 1910, before the mistakes of 1913-namely the inception of the Federal Reserve and our current income tax, Tax Freedom Day was January 19th, signifying a mere 5 percent tax burden. Somehow, our country functioned just fine. "If calculated to include government spending and the deficit, rather than just collections, Tax Freedom Day would actually fall on May 29. The annual deficit adds to the growing debt of future generations and adds insult to injury to those that struggle to make this economy work. It is a slap in the face that this is not enough to prevent this crushing governmental burden from falling on the next generation. "For months now, Washington has been desperately throwing taxpayers money at various programs to stimulate us out of the recession, to no avail. Seeing hard-earned money confiscated from the people and spent in such wasteful ways, such as the recent bailouts, is almost too much to bear. Getting rid of the income tax altogether, while very beneficial, may be a while in coming. In the meantime, I am fighting for every tax cut or tax credit possible." --Ron Paul
Views: 3098 minnesotachris
Japan approves $275bn stimulus plan to boost economy
 
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Cabinet ministers in Japan have approved a $275b stimulus package to help the economy. The measures include new government spending, cash payouts to low-income earners and various programmes to increase consumption. Al Jazeera’s Gerald Tan explains. - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: http://www.aljazeera.com/
Views: 2135 Al Jazeera English
economic stimulus plan
 
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The $787 billion package of the economic stimulus plan. This economic recovery plan includes significant spending provisions, as well as tax relief for some businesses and the middle and working class and State and local fiscal relief. President-elect Barack Obama hopes to save or create more than 3.5 million jobs over the next two years, ignite spending by business and consumers alike and to find the path to new economic growth and prosperity. This 3D animation details the $787 billion package. It is available at mleconte@stockaninews.com www.stockaninews.com
Views: 145 ml750
Bush Tax Rebate Stimulus Package won't amount to JACK unless
 
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http://www.revolutionprofits.com/ Bush Tax Rebate Stimulus Package won't amount to JACK unless we INVEST it into growing OURSELVES and an ASSET that will create MORE INCOME for us... When you bank it, it won't be worth as much next year because of inflation. If you pay off debt and credit cards, you're just throwing it in the toilet. If you use it to create an ASSET that will pay you heavy dividends... when you use your $600 or $1200 to invest in yourself and your own business, you can create an income stream of more than DOUBLE that per month in as little as 1-2 months... REALISTICALLY... find out for free at: http://www.revolutionprofits.com/ ** George Bush Tax Rebate Stimulus Package, George Bush Tax Rebate Stimulus Package, George Bush Tax Rebate Stimulus Package, George Bush Tax Rebate Stimulus Package, George Bush Tax Rebate Stimulus Package, George Bush Tax Rebate Stimulus Package,
Views: 1865 ExplodeMyBusiness
Buffett Declines To Support 'Buffett Rule' Or President's New Stimulus
 
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WASHINGTON, September 30--Today on CNBC, Warren Buffett declined on multiple occasions to offer his support for either the "Buffett Rule"--President Obama's plan to increase taxes on higher-income families--or the president's new stimulus package, which would increase federal borrowing by nearly half a trillion dollars. Transcript follows (from Real Clear Politics): CNBC: "Are you happy that the way it is being described. Is the program that the White House has presented a million dollars and over your program? " Warren Buffett: "Well, the precise program which will -- I don't know what their program will be. My program would be on the very high incomes that are taxed very low. Not just high incomes. Somebody making $50 million a year playing baseball, his taxes won't change. Make $50 million a year appearing on television, his income won't change. But, if they make a lot of money and pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what other people pay." CNBC: "Does that mean you disagree with the president's new jobs proposal which would be paid for by raising taxes on households with incomes of over $250,000." Buffett: "That's another program that I won't be discussing. My program is to have a tax on ultra-rich people who are very tax rates. Not just all rich people. It would probably apply to 50,000 people in a population of 300 million."
Views: 3106 BudgetGOP
$1.14 Million wasted tax dollars by stimulus plan
 
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Wasted Federal stimulus money
Views: 92 smartzootv