Most workers will start seeing about a $10 bump in their weekly paychecks this week, thanks to a new federal tax credit.
The "Making Work Pay" tax credit, which took effect Wednesday, was enacted as part of the economic recovery package that Congress passed in February. It's the Main Street version of the Wall Street bailout, doled out in bite-sized portions to workers in their paychecks.
Unlike last year, when the government tried to stimulate the economy by mailing 120 million rebate checks to taxpayers, this year's version will be spread out over the rest of the year in workers' paychecks. The goal is to get workers to spend the extra money to help jump-start the ailing economy.
This is simply putting a band aid over a gaping wound. Does our president think that giving me $10.00 will stimulate my economy. Of course $10.00 will do absolutely nothing to improve the quality of my life so, I, like millions of other americans will not benefit at all from this brilliant idea.
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