Tax Bill passes the House

[danefan]

Late last night. Going to Obama today who will sign.

Some highlights:

Bush Tax Cuts for 2 years.
Social Security tax reduction (2%) for two years (that's real money in your pocket)
Estate tax unified credit of $5,000,000 and a rate of 35% for anything after that.

A number of very favorable corporate tax provisions.

[andy7171]

Barrak "McSame" Obama

[kalm]

Late last night. Going to Obama today who will sign.

Some highlights:

Bush Tax Cuts for 2 years.
Social Security tax reduction (2%) for two years (that's real money in your pocket)
Estate tax unified credit of $5,000,000 and a rate of 35% for anything after that.

A number of very favorable corporate tax provisions.

Well it's worked out great so far. Time to sit back and watch all of the tax revenue it creates.

[Appaholic]

Late last night. Going to Obama today who will sign.

Some highlights:

Bush Tax Cuts for 2 years.
Social Security tax reduction (2%) for two years (that's real money in your pocket)
Estate tax unified credit of $5,000,000 and a rate of 35% for anything after that.

A number of very favorable corporate tax provisions.

Well it's worked out great so far. Time to sit back and watch all of the tax revenue it creates.

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

[kalm]

Well it's worked out great so far. Time to sit back and watch all of the tax revenue it creates.

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

Infrastructure investments are more stimulative than tax cuts.

[Rob Iola]

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

Infrastructure investments are more stimulative than tax cuts.

Could you post a link to an inventory of the ARRA infrastructure investments? I don't mind if it's a partisan Donk site. I'm just curious as to what the stimulus money bought us - new roads, bridges, etc.

[dbackjon]

ANd the further sellout of our children continues

[kalm]

Infrastructure investments are more stimulative than tax cuts.

Could you post a link to an inventory of the ARRA infrastructure investments? I don't mind if it's a partisan Donk site. I'm just curious as to what the stimulus money bought us - new roads, bridges, etc.

Now you want proof? You should know by now that I'm a big picture guy. I'm strictly theoretical.

But you might be able to find something here: http://www.recovery.gov" onclick="window.open(this.href);return false;

[Appaholic]

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

Infrastructure investments are more stimulative than tax cuts.

Only when they are actually BEING BUILT.....

[Appaholic]

Infrastructure investments are more stimulative than tax cuts.

Could you post a link to an inventory of the ARRA infrastructure investments?

Kind of what I was getting at...thank you, Rob...

[Wedgebuster]

Gee, apparently we needed to save 2% of our social security contributions for our own financial stimulus? Are we worse off than our social security accounts?

Think I'll use my tax savings on booze and cigs.

[Skjellyfetti]

I don't know if Rob Iola lives in Delaware, but here's a map where you can see everything being funded in Delaware through the stimulus (every state has its own site if you don't live in Delaware):
http://recovery.delaware.gov/recovery-map.shtml" onclick="window.open(this.href);return false;

And here's all the funding for the University of Delaware alone:
http://www.udel.edu/recovery/" onclick="window.open(this.href);return false;

[HI54UNI]

Well it's worked out great so far. Time to sit back and watch all of the tax revenue it creates.

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

[Rob Iola]

I don't know if Rob Iola lives in Delaware, but here's a map where you can see everything being funded in Delaware through the stimulus (every state has its own site if you don't live in Delaware):
http://recovery.delaware.gov/recovery-map.shtml" onclick="window.open(this.href);return false;

And here's all the funding for the University of Delaware alone:
http://www.udel.edu/recovery/" onclick="window.open(this.href);return false;

It's quite the list, including my favorite:
$409K for NIH Biomedical Research/Babies Driving Robots (I kid you not - click on the Funding List link below the map and scroll to page 6).

Summarizing, there's $1.092 Billion for the state government, broken out by:
$496 million for state fiscal assistance
$259 million for operating budget and discretionary
$183 million for capital projects
$152 million for grants

So roughly 18% goes for capital projects, and the rest to help pay for entitlements, O&M, earmarks, special projects, and the like.

Still sifting:

$82 million "direct benefits to individuals"...

Millions for block grants, operating funds, municipal financial assistance, private non-profits, ...

Seems pretty heavy on "making payroll" types of operating expenses, and light on infrastructure, based on what is listed.

[Skjellyfetti]

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

You think that's all utilities in Iowa got?

[Appaholic]

I don't know if Rob Iola lives in Delaware, but here's a map where you can see everything being funded in Delaware through the stimulus (every state has its own site if you don't live in Delaware):
http://recovery.delaware.gov/recovery-map.shtml" onclick="window.open(this.href);return false;

And here's all the funding for the University of Delaware alone:
http://www.udel.edu/recovery/" onclick="window.open(this.href);return false;

It's quite the list, including my favorite:
$409K for NIH Biomedical Research/Babies Driving Robots (I kid you not - click on the Funding List link below the map and scroll to page 6).

Summarizing, there's $1.092 Billion for the state government, broken out by:
$496 million for state fiscal assistance
$259 million for operating budget and discretionary
$183 million for capital projects
$152 million for grants

So roughly 18% goes for capital projects, and the rest to help pay for entitlements, O&M, earmarks, special projects, and the like.

Still sifting:

$82 million "direct benefits to individuals"...

Millions for block grants, operating funds, municipal financial assistance, private non-profits, ...

Seems pretty heavy on "making payroll" types of operating expenses, and light on infrastructure, based on what is listed.

Bingo! NC Gov't is laying the seed for more employee layoffs (which may affect my wife...4mos after getting hired back from previous layoff) due to their 3.1billion budget shortfall. They claim it's because we don't have stimulus funds to help with budget this year. I'm guessing a more accurate answer is they spent to much money they didn't have...so, in less than ten years, they've blown through the Golden Leaf Tobacco Settlement money (but still have people on payroll to administer the funds...which don't exist) as wel as the Stimulus money...thanks NC Dems....

[Ivytalk]

Sarah Palin's knocking the bill because it didn't go far enough. I think she was referring to the estate tax when she opened her yap.

[YoUDeeMan]

ANd the further sellout of our children continues

Uhhmm..you're gay. You don't have children.

However, you've sold out reproductive mothers by not letting them get a piece of you!

[dbackjon]

ANd the further sellout of our children continues

Uhhmm..you're gay. You don't have children.

However, you've sold out reproductive mothers by not letting them get a piece of you!

So I shouldn't give a shit about the future of the country? About my nieces and nephews future?

[HI54UNI]

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

You think that's all utilities in Iowa got?

No. They got money to install other "smart grid" devices, LED streetlights, blah, blah, blah. All wonderful things that are creating tons of jobs.

[SuperHornet]

It will create as much tax revenue as infrastructure upgrades created by the American Recovery & Reinvestment Act....

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

I don't know about IA, but here in Superior California, there is MAJOR controversy over these so-called "smart" meters. They're tripling some people's utility costs.

[HI54UNI]

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

I don't know about IA, but here in Superior California, there is MAJOR controversy over these so-called "smart" meters. They're tripling some people's utility costs.

There could be a couple reasons for that. One of the biggest is that if meters haven't been updated and tested regularly they have probably been running slow as mechanical meters lose their accuracy with age. The new solid state electronic meters are much more accurate so people are probably getting billed for what they actually use for the first time in a long time.

[travelinman67]

Utilities in Iowa got money to put "smart" thermostats in your house so they can control the temperature in your house. Think of all the jobs it has created for installers.

I don't know about IA, but here in Superior California, there is MAJOR controversy over these so-called "smart" meters. They're tripling some people's utility costs.

It's not just the meters...PG&E reset their commercial baseline rates this year, in effect erasing all prior consumption data prior to March. I've been getting billed for commercial multi-family based on single family square footage rates...which don't include "common area" consumption (walkway, alleyway, courtyard, parking area, gate controllers, emergency wastewater pumps, etc...). I wrote them, cc'ing Public Utilities Commission, and was given the opportunity to return GAS rates to pre-March, but not ELECTRICAL rates (the big ticket).

Moreso, both residential and commercial rates are now required to now subsidize green energy development. Short of a state law authorizing an "opt out" program (which will never occur under CA's 100% uber-lib gestapo government), Calfornians will continue to pay 47% more than they would otherwise.

[ming01]

ANd the further sellout of our children continues

you mean every family getting more of their money back is bad for our children? i dont follow your logic

[native]

ANd the further sellout of our children continues

The sellout is from dem and repub spending, not from failing to increase taxes. Taxes are already high enough.