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Old 08-16-2008, 11:26 AM
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Default Family Economic Stimulus Act of 2008

Quote:
H.R.5142

Family Economic Stimulus Act of 2008

To amend the Internal Revenue Code of 1986 to provide an economic stimulus for individuals.

1/28/2008--Introduced.

Family Economic Stimulus Act of 2008 - Amends the Internal Revenue Code to:
(1) exclude unemployment compensation from gross income in 2007 and 2008;
(2) increase the child tax credit to $1,200 in 2008;
(3) allow individual taxpayers a $400 tax rebate ($800 in the case of a joint return) in 2008;
(4) extend unemployment insurance benefits; and
(5) require states to distribute to unemployed individuals information about unemployment insurance eligibility conditions.

All Bill Actions

* Jan 28, 2008: Referred to the House Committee on Ways and Means.
* Introduced on Jan 28, 2008.

http://www.opencongress.org/bill/110-h5142/show
From Obama's website:

Quote:
Obama will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. This refundable income tax credit will provide direct relief to American families who face the regressive payroll tax system.

http://www.barackobama.com/issues/family/
Too bad your fellow Democrats in congress don't feel that way. There was a bill that would do essentially what Barack said he wants to do, But the Democrat leadership killed it in the House Ways and Means committee. They did the same thing with H.R.2893 Middle Class Tax Relief Act of 2007. So when the Democrats profess to be for the middle class, just remember the two opportunities they killed in committee like an unwanted pet. If any of these dopes are your representatives and are up for election in November, be sure to let them know you want the help they promised and pigeon holing these bills was unacceptable by voting against them.

Quote:
House Committee on Ways and Means

* Charles B. Rangel, Chairman, New York
* Pete Stark, California
* Sander M. Levin, Michigan
* Jim McDermott, Washington
* John Lewis, Georgia
* Richard E. Neal, Massachusetts
* Michael R. McNulty, New York
* John S. Tanner, Tennessee
* Xavier Becerra, California
* Lloyd Doggett, Texas
* Earl Pomeroy, North Dakota
* Stephanie Tubbs Jones, Ohio
* Mike Thompson, California
* John B. Larson, Connecticut
* Rahm Emanuel, Illinois
* Earl Blumenauer, Oregon
* Ron Kind, Wisconsin
* Bill Pascrell, New Jersey
* Shelley Berkley, Nevada
* Joseph Crowley, New York
* Chris Van Hollen, Maryland
* Kendrick Meek, Florida
* Allyson Y. Schwartz, Pennsylvania
* Artur Davis, Alabama

http://en.wikipedia.org/wiki/United_...Ways_and_Means
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Old 08-16-2008, 03:33 PM
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Well isn't it a good thing that Obama doesn't vote down the line with Democrats and blindly vote how other Democrats do?

Read the sig.
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Old 08-16-2008, 04:05 PM
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You're trying to slander Obama with democrats past actions. Why don't you pick something worthwhile to talk about. This topic is going nowhere fast because its not about Obama really at all. He's going to try and rally congress to pass the bill like anyone would and if they do pass it great, if they don't be mad at congress not Obama.
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Old 08-16-2008, 04:35 PM
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Default Mortgaging the Future

I don't give a darn about the partisan stuff, but this "stimulus act" would just have increased the deficit even more. Not only is deficit spending bad economics that creates a cycle of artificial booms and busts and a potentially devastating national debt, it is also un-Constitutional, since future generations will have to pay for it despite having no say about it, a clear violation of the 5th and 14th Amendments.

More accurate names for this act, therefore, would include the "Cheat Your Children Act" or the "Defraud the Future Act". Both McCain and Obama will carry on this unfortunate tradition, and for that among other reasons I don't care which one wins.
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Last edited by Force-of-the-Truth; 08-16-2008 at 04:37 PM.
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Old 08-16-2008, 05:02 PM
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Quote:
Originally Posted by hendrixpujols11 View Post
Well isn't it a good thing that Obama doesn't vote down the line with Democrats and blindly vote how other Democrats do?

Read the sig.
WHAT? Obama votes down party lines 96% of the time.

http://projects.washingtonpost.com/c.../party-voters/

You don't need to scroll far to find Barry! Only 10 other Democrats vote along party lines more.....WOW!
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Old 08-16-2008, 05:09 PM
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Quote:
Originally Posted by Force-of-the-Truth View Post
I don't give a darn about the partisan stuff, but this "stimulus act" would just have increased the deficit even more. Not only is deficit spending bad economics that creates a cycle of artificial booms and busts and a potentially devastating national debt, it is also un-Constitutional, since future generations will have to pay for it despite having no say about it, a clear violation of the 5th and 14th Amendments.

More accurate names for this act, therefore, would include the "Cheat Your Children Act" or the "Defraud the Future Act". Both McCain and Obama will carry on this unfortunate tradition, and for that among other reasons I don't care which one wins.
Amen.
It is disgusting to see how both parties just keep printing money. This uncontrolled printing of money will cost us dearly.

I wonder how many people know that the Fannie May and Freddie Mac bailout essentially doubled our deficit.
peoples hard earned 401K money will become worth less by the time they retire....
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Old 08-16-2008, 05:13 PM
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Quote:
Originally Posted by Professor Peabody View Post
WHAT? Obama votes down party lines 96% of the time.

http://projects.washingtonpost.com/c.../party-voters/

You don't need to scroll far to find Barry! Only 10 other Democrats vote along party lines more.....WOW!
I said nothing about his history of voting down party lines. What I said was it was good in that situation that he thought individually, so that whole post is kind of irrelevant.....
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Old 08-16-2008, 05:39 PM
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Quote:
Originally Posted by hendrixpujols11 View Post
Well isn't it a good thing that Obama doesn't vote down the line with Democrats and blindly vote how other Democrats do?

Read the sig.
Quote:
Originally Posted by hendrixpujols11 View Post
I said nothing about his history of voting down party lines. What I said was it was good in that situation that he thought individually, so that whole post is kind of irrelevant.....
If your going to do that it really needs to be on a thread with 50 or more posts so your statements get lost in the bunch.
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