Saturday, February 14, 2009

Tax Credits

I will complain:

payroll tax reductions, income tax credits, energy-saving tax credits, credits for buying a car or deducting more than the usual homebuying interest for first-timers … all these things presume you have a job, a job that pays enough that you actually owe federal income tax after the standard deduction — and that you are buying things.

My brother is looking to become a first-time homebuyer this year, I think, so there's one benefit. Of course, those of us who took the plunge in 2007, during prime "let's make a housing crisis" time, are out of luck for that $8,000 credit.

My dad will get $250 extra Social Security, which will go very far against his thousands of credit card debt.

I might qualify for the now-bigger Pell grant for college … chickens at this point.

And that $13 extra per week in my "paycheck" will be so useful. $400. New contacts by December?

I want to deduct my car's sales tax from 2008 anyway … No one is going to be buying cars in 2009 except people like my mom, whose car was totaled by a great driver in a semi.

PS, there are some people out there whose main goal in life is to make sure everyone knows how brilliant they are and whose chief method of proof is comparison to the rest of us who are utterly stupid. moreover, this type excels in feeling misunderstood and needs constant slavish "you are so right" reinforcement, despite having established a hostile and abusive atmosphere. is that called self-righteousness? whatever; i'm going to pollyanna it up on candy day and call it good.


m.v. said...

as always people who did the right thing will get just enough to buy a beer. my refund this year is pittance, so weekly beer money will help

hearmysong said...

i think you should email him at and copy this post to obama. you raise valid points.

Hyperblogal said...

I still think the gov should have sent the money directly to the people. How 'bout some "trickle up" for a change? No matter what we decided to do with the money it would help the economy. I'd be willing to bet that of every $100 thrown toward us by the stimulus package only $1 will ever get all the way here. This is just more money wasted on the wealthy.

Anonymous said...

what's 800 B divided by 330 M?
$2424 - and that's assuming every census American gets a piece. that would stimulate something, eh?

ericj said...

the "tax credits" are really just that - interest free loans that have to be paid back. the morgage credit - has to be paid back. student loan interest - max 2500. scam.

m.v. said...

I was under impression that they dropped repayment requirement for the mortgage credit. They wanted it to be 15k, but instead will not ask for the 8K back