Obama says he's committed to helping middle class

[babylonsister]

Obama says he's committed to helping middle class
AP

By DARLENE SUPERVILLE, Associated Press Writer – 1 hr 47 mins ago



WASHINGTON – A healthy economy needs bustling Main Streets and a thriving middle class even more than a healthy stock market, President Barack Obama said as he reaffirmed his commitment to work hard for America's hardworking men and women.

In his weekly radio and Internet address, Obama on Saturday outlined what he's done to help the middle class, a group he says has been squeezed the most during the recession.

He touted efforts to create jobs, make college more affordable, help the middle class build retirement nest eggs, cut taxes on these families and stop health insurance companies from refusing to cover people with pre-existing medical conditions.

snip//

But Obama said that, for a decade, middle-class families have experienced stagnant incomes and declining economic security while tax breaks were given to companies that shifted jobs overseas and Wall Street firms reaped huge profits.

"So this Labor Day, we should recommit ourselves to our time-honored values and to this fundamental truth: To heal our economy, we need more than a healthy stock market; we need bustling Main Streets and a growing, thriving middle class," Obama said. "That's why I will keep working day by day to restore opportunity, economic security and that basic American dream for our families and future generations."

more...

http://news.yahoo.com/s/ap/20100904/ap_on_bi_ge/us_obama

[harun]

1. Has he ended any of the tax breaks for Corporations that shift jobs overseas?

I know he talked about this but no bill has actually done this, has it?

[ProSense]

2. Well,

there is this.

[Catshrink]

3. Fool me once...

I'm not holding my breath.

[ProSense]

4. When were you fooled by the President's commitment? Was

it after the stimulus:

Tax cuts for individuals
Total: $237 billion

$116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.<29>
$70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.<29>
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
$14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
$6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.<41>
$4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
$4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
$4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
$1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.


Education
Total: $100 billion

$53.6 billion in aid to local school districts to prevent layoffs and cutbacks, with flexibility to use the funds for school modernization and repair (State Fiscal Stabilization Fund)<43>
$15.6 billion to increase Pell Grants from $4,731 to $5,350
$13 billion for low-income public schoolchildren
$12.2 billion for IDEA special education
$2.1 billion for Head Start
$2 billion for childcare services
$650 million for educational technology
$300 million for increased teacher salaries
$250 million for states to analyze student performance
$200 million to support working college students
$70 million for the education of homeless children



Aid to low income workers, unemployed and retirees (including job training)
Total: $82.2 billion

$40 billion to provide extended unemployment benefits through Dec. 31, and increase them by $25 a week
$19.9 billion for the Food Stamp Program
$14.2 billion to give one-time $250 payments to Social Security recipients, people on Supplemental Security Income, and veterans receiving disability and pensions.
$3.45 billion for job training
$3.2 billion in temporary welfare payments (TANF and WIC)
$500 million for vocational training for the disabled
$400 million for employment services
$120 million for subsidized community service jobs for older Americans
$150 million to help refill food banks
$100 million for meals programs for seniors, such as Meals on Wheels
$100 million for free school lunch programs


Housing
Total: $14.7 billion <50>

$4 billion to the Department of Housing and Urban Development (HUD) for repairing and modernizing public housing, including increasing the energy efficiency of units.
$2.25 billion in tax credits for financing low-income housing construction
$2 billion for Section 8 housing rental assistance
$2 billion for the Neighborhood Stabilization Program to purchase and repair foreclosed vacant housing
$1.5 billion for rental assistance to prevent homelessness
$1 billion in community development block grants for state and local governments
$555 million in mortgage assistance for wounded service members (Army Corps of Engineers)
$510 million for the rehabilitation of Native American housing
$250 million for energy efficient modernization of low-income housing
$200 million for helping rural Americans buy homes (Department of Agriculture)
$140 million in grants for independent living centers for elderly blind persons (Dept. of Education)
$130 million for rural community facilities (Department of Agriculture)
$100 million to help remove lead paint from public housing
$100 million emergency food and shelter for homeless (Department of Homeland Security)


link

[Catshrink]

5. Meaningless

[ProSense]

6. I know.

Everything the President does is. In fact, the next thing he does will be "meaningless."

[babylonsister]

7. Your hobbies say it all. nt

[Brickbat]

8. I'll believe it when I see it.

[dflprincess]

9. He also said he was a "fierce advocate" of GLBT rights

That we needed a public option to "keep the insurance companies honest".
That he opposed insurance mandates.
That he would restore the rule of law.

He says a lot of things.

[KakistocracyHater]

10. then why did he feed the wrong end of the cow? The bailouts SHOULD

have been put to stop Americans' foreclosures. They should have rolled back the interest rate, cut out variable, & stopped reverse mortgages. Those homes are now becoming crack dens, rat havens, etc.

You're supposed to feed the cow thru the mouth.

[begin_within]

11. What middle class?

There isn't any any more.

[Mimosa]

12. There's something to that

Middle class used to be people with the homes they really owned and some savings.

Less people have solidity and savings.