News 12 This Morning, February 26, 2009
AUGUSTA, Ga.-- President Barack Obama has signed a tax break that could affect you. The plan will provide an $800 Making Work Pay tax credit. That's $400 per person or $800 per family, which is about $13 a week.
"I'd prefer that over the economic stimulus checks we got last year. I think that will help us out a lot better in the long run. Any tax break we can get is good, anyway," Robert Corley said.
Robert Corley says he would use the extra money to put gas in his truck. While some say spending the money is what the country needs to help end the recession, others say it won't cut it.
"I don't think it's going to solve the problem. I think it's just a band-aid on the big economic problem that we have. $13 a week is important, no doubt about that, but it's not going to jumpstart the economy. I just think it's a nickel chasing a dime, that's all it is," Mark Darnell said.
Martha Ginn is a political science professor at Augusta State University and is talking about the stimulus package in her classes.
"The theory behind this one is you give someone a little bit along on their paychecks and hopefully they'll put that money back into the economy either in groceries, gas, other sorts of necessities, and there won't be a tendency to save that money, they'll spend it," Martha Ginn said.
So will you spend the $13?
"Me and my wife, we love to rent movies and we can go to Blockbuster, with the 13 extra bucks," Terrence Smith said.
"I'm all for it. A little bit extra in my pay check is always good," Elvester Wright said.
The hope is that people will spend the extra cash instead of save it. But until the money comes we'll just have to wait and see where it takes us.