Also refundable.

That’s also per couple. It’s only $2500 for single folks.

Oh, and employer benefit health care gets taxed.

Also refundable.

Look into it, willya?

- A $500 tax credit ($1,000 a couple) to “make work pay” that phases out at income of $75,000 for individuals and $150,000 per couple.

- A $4,000 tax credit for college tuition.

- A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies).

- A “savings” tax credit of 50% up to $1,000.

- An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.

- A child care credit of 50% up to $6,000 of expenses a year.

- A “clean car” tax credit of up to $7,000 on the purchase of certain vehicles.

Here’s the political catch. All but the clean car credit would be “refundable,” which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer — a federal check — from taxpayers to nontaxpayers.

Jay, weren’t you one of the folks who claimed that raising the minimum wage by a dollar would result in low-wage workers being laid off? By that reasoning, giving employers a $1.50/hr (based on full-time) tax credit should encourage hiring, shouldn’t it?

Or does it only work one way?

Farris: If I could get money out of my IRA, I’d use it to stimulate the economy by having a new energy-efficient furnace put in my house. That’s just full of win, innit?

Oh that’s right, nothing.

When you guys have any good ideas, let us know, okay?

Mega-stupid. You think people are leaving the stock-market now? Allow them to to withdraw tax/penalty-free money. THEN you’ll see what a market freefall looks like. (And if Jay Tea is right and McCain has a similar plan, he’s mega-stupid too.) If you wanna see more savings, remove the annual caps on IRA contributions.

Relief to Homeowners: 90 day foreclosure moratorium for homeowners that are acting in good faith.

Why stop at forecloures? Simply announce no one in the next 90 days can be fired. In fact, why stop at 90 days? Why not the next 4 years?

Next.

Which is the dumbest idea I have ever heard. A whopping $3000 tax credit just for hiring somebody. That’s great. Considering it will cost business owners nearly $20,000 (and that’s assuming hiring somebody full time at min wage) at LEAST to hire people, this is pointless.

Obama’s IRA plan is a “me-too” response to what McCain has already offered.

Of course, Obama would do better to say that instead of raising income taxes, payroll taxes, dividend taxes, capital gains taxes, inheritance taxes, and implementing windfall profits taxes that he’d instead actually reduce taxes. You know, for those that actually PAY them as opposed to cutting checks for a large percentage of Americans that already don’t pay income taxes.

Oh and good work by the Democrats in getting Tim Mahoney to take over for Foley and then promptly turning around and start banging a staff member, paying her $120,000 to cover it up and getting Rahm Emanuel to help with the cover-up.

Fantastic – cool – bright – refreshing – powerful – intelligent – wow! I’m beginning to think I’d follow Barack into hell – if I didn’t believe it doesn’t exist. Eh?