Democrats are calling for another economic stimulus package. If this is anything like the first package, it will be another massive income redistribution package paid for by high earners and benefiting lower earners. High earners received nothing based on the Economic Stimulus Payment Calculator.
#1 by tom at January 27th, 2009
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My wife an I earned a bit over 200K last year. Between state, fed, property tax, city tax, social security, and medicare we paid a bit over 100K in taxes. 25,000 went to childcare so we could WORK. 12,000 (insurance 2,400/yr gas upkeep and licensing 3600 yr/ payment for 2 cars 6000/yr) went to vehicles, gas licensing, and insurance so we could get are kids to daycare and go to WORK. 4,000 went to continuing education so my wife could maintain her license and continue to WORK. 6,000 went into our 3 kids college funds because they wont get gov tuition handouts because their parents WORK. 15,000 went to retirement so someday we won’t have to WORK. Health Insuance cost 8,000 so that we could stay healthy and WORK. Food cost/formula/and diapers are 6,000 yr. Mortgage and utilites cost 22,000.
After these fixed expenses, we are left with 12,000 for such luxuries as savings, clothing ourselves, repairs to home, donating to charities, eating out, entertainment, etc. etc for a family of 5. We did not qualify for the stimulus rebate the first round, nor will we this round. We’re too rich.