$500.00 Tax Cut Breakdown

With the new 145 Billion dollar middle class tax cut put into plan for this upcoming tax season we as Americans are looking to save big. Each person who qualifies for middle class will recieve five hundred dollars off of their taxes. The reason for the tax cut is the need to stimulate the economy and get people spending again.
At first glance this looks like it could truly work, until you break down the numbers. With my five hundred dollar tax cut I could take the money I saved in taxes and pay half of my half of the rent, or I could donate it to the Dodgers resign Manny fund, but instead I think I will be using it to pay off my Student Loans aka debt which I am guessing the majority of the people in this country have and will do.
Lets break this yearly tax cut down. Five Hundred dollars spread out over twelve months give you 41.667 dollars so in good faith lets round that up to forty two dollars. Thats forty two dollars a month. Take forty two dollars and divide this by four weeks. You get ten dollars and fifty cents a week. Even further lets divide that by seven days and we come up with one dollar and fifty cents.
So we get to spend one dollar and fifty cents more a day. That means I could get like two tacos from Jack In the Box and a gumball, or I could go and buy something at the 99 cent store, and if I saved my money up for a week then I could take my lovely girlfriend out to IN N OUT where we could each get our own drink and fries but have to split a double double. If I wanted to save my money up for the month I could go and get a half a weeks worth of groceries.
Dont get me wrong any break in taxes helps but I do not think that this will be the solution. On the other hand check out the alternate energy policies. Im all for that and I think they are up to something. (check this out its a good source of info and some of this stuff will work)http://money.cnn.com/2009/01/26/news/economy/stimulus_101/index.htm)


1 Response to “$500.00 Tax Cut Breakdown”

  1. 1 Parker
    January 28, 2009 at 9:16 am

    Tax cut really just pays for a month of health insurance, but i’ll take it. At least it is for the middle class.

    I think the best way to fix the economy is to stop spending a billion dollars a week in iraq and put half that money to fund programs to fix the economy and the other half in the fucking bank so the debt is moving the opposite direction. it’s a start.

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