Thursday, February 12, 2009

What's in the Stimulus for You?

The Swamp has a good rundown of who would benefit from the stimulus. Ultimately, it would seem everyone would benefit if the economy ramps up again. But more specifically, here are some of the benefits:
Taxpayers

For most Americans, aid would show up most directly in a simple tax credit.

Workers making less than $75,000 a year would get a $400 credit for 2009 and 2010. Couples making up to $150,000 would get $800.

Higher-income taxpayers would see smaller credits. Individuals making more than $100,000 a year and couples making more than $200,000 would not get the credit.

In addition, 24 million middle-income Americans would be spared from paying higher income taxes under the alternative minimum tax.

The tax was originally designed to apply only to the wealthiest Americans, but it was never indexed for inflation, so larger numbers of taxpayers have been required to pay it.

College students

Many people paying for college would get a $2,500 tax credit for tuition and other education-related expenses, such as books and computers.

Eligible college students would also receive higher Pell Grants, thanks to a $400 boost in the maximum grant, to $5,250. There's plenty more at the Swamp