Tax Refund Stimulus 2009
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Question: 2009 Stimulus package, what does it mean?
I read that it was passed, but I am alittle confused on what this means for us as individuals.
Local ews article says, “tax cut calls for a $500 break for single workers and $1,000 for couples”
What exactly does that mean? My husband and I are having a debate. He says we will be receiving checks, I said it will be a tax break over a certain amount of time. Meaning, they would not take as many taxes out of our paychecks. I assume that the $500-$1000 tax break will come into affect during tax file time. If you didn’t pay in enough they will give you a $500-$1000 tax exemption, For Example; I paid in $600, but should have paid in $800. I wouldn’t owe that extra $200 according to the tax cut because it falls within the $1000 allotted for my couple status.
Am I understanding right or is my husband right about us getting a refund check of $1000?
Answer: DOn’t expect to see much. It’s all tied to pork projects.
Facts:
$819 Billion dollar stimulus plan will provide 3 million new jobs over the next 5 years. 819 Billion / 3 million = $273,000. I’m sure those jobs won’t pay that much!
Why not just divide that money with every American. There are 300 Million Americans which means every man, woman and child living in the US would get $2,730 each. Now thats stimulus!
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