Thursday, February 12, 2009

Congress "gives" some taxpayers $13/week this year; Walmart triples that for everyone forever

What Congress has done:
The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.

Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.
What Walmart has done. (Regardless of paying income taxes or not).

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