On Friday, President Barack Obama signed the $858 billion Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 into law which provides tax relief for families around the country and prevents a massive tax hike next year.
In his remarks Friday afternoon, the President said “by a wide bipartisan margin, both houses of Congress have passed a package of tax relief that will protect the middle class, grow our economy and create jobs for the American people“.
This bipartisan effort was prompted by the fact that tax rates for every American were poised to automatically increase on January 1st. If that had come to pass, the average middle-class family would have had to pay an extra $3,000 in taxes next year. That wouldn’t have just been a blow to them — it would have been a blow to our economy just as we’re climbing out of a devastating recession.
According to a fact sheet from the White House, nearly half of all African American children will benefit from the expansion of the Earned Income Tax Credit and Child Tax Credit.
Be sure to check out more ways the legislation benefits you.
Please continue to pray for President Obama. So many wicked and evil forces trying to attack him and his legacy but ARE defeated in the MIGHTY NAME OF JESUS!
Great post – thanks!
See thats what Im talking about. Doing nice acts to show he cares. I cant put my finger on why people enjoy having selfish, greedy, and could care less about the citizens here in the US as president but then again evil exist.
Lmfao, three comments. You hoes really need to get your shit together and get your asses here an act like you care. Smdh
This coming from a “Bey Stan”…Bish #killyoself
I just luv him being a lefty I find it cute every time i see him signing something!
Obama is doing everything he said he would not do!!! He will not receive my vote again.
I’m not American and I’m not really into politics or whatever but I think I’m going to look into the things Obama has done so far and plans on doing in the future.
I always see posts about him on blogs and he always seems to be doing something positive or trying to do something positive but people are still forever complaining ..
I’m not a political guru, but I think everyone should understand how politics and our branches of government work just like how you show know your rights. People are so quick to complain and have no idea about the world of politics. You should atleast educate yourself on the basics. I’m glad this bill got passed because the middle class are the biggest supporters of this country and I feel we should be supported the most…(the everyday working citizen). Before people start complaining understand that the tax relief was needed because as of January 1 about an extra 100dollars would’ve been taken from your checks on top of taxes you already pay. Also understand that unemployment is an insurance people work for. It is not a hand out and it certainly is nothing over 300dollars a week (average) for workers who were making nearly 2 grand bi-weekly before they received lay offs. I’m proud of our president so far. He is taking things step by step which is what he’s suppose to do.
Why does only African american kds get to benifit from the expanded child tax credits? thats avail to all americans that qualify, im just confused by that.
wow. I hope your in High School because that’s the only reason you should ask such naive question. I know I sound elitist but I am just shocked that you don’t realize the Concrete-loop was simply trying to make the information relevant to the African American community and the tax cuts don’t discriminate!
LOL I love how you only put MIDDLE CLASS TAX CUT. Although that is partially true, he extended the BUSH TAX CUTS for the Super Rich. I love him too but I call a spade, a spade.
I am glad the tax cuts and unemployment benefits were extended. $200,000 a year does not make you super rich and more people are employed by small businesses. Increased taxes including and the health care bill was/is a heavy burden to those small businesses and the middle class. (The super rich move their money and hire professionals to shelter their wealth.)
I voted for our President but his administration has spent so much time on pushing forward their social experiment real jobs have not been created for Black folks in my area.
The President should have implemented programs to improve our roads and bridges and forget the repealing the “Don;t ask ,don’t tell” garbage with gays in the military.
When I see young black men hanging out on the street corners because there aren’t any good paying jobs it infuriates me! Road construction would have provided jobs for our men!!!! but the don’t ask don’t tell garbage would do the opposite for them.
I constantly hear about the sexual antics of some of the gay soldiers. Homosexuality is a behavior and I for one am not willing to risk our military resorting to a draft to protect behaviors.
The Health Care Program will actually take away some of the benefits of my retired parents and elders.
I look at my community and I see a generation that is falling so far behind. No one is putting factories are placing businesses in our neighborhoods…only liquor stores and abortion centers.
Your president Approved a military budget of 708 BILLION DOLLARS the biggest war spendin of All Time.
spare 4 minutes of your time
http://www.youtube.com/watch?v=MZbbS-OoG7I
have a nice day
What about
Bradley Manning
What about
Mumia Abu Jamal
What about
the 5 Afghan civilians including two pregnant women and a teenage girl were killed when US special forces raided a house in Khataba village, outside the city of Gardez where dozens of people had gathered at the home to celebrate the naming of a newborn baby.
What about
The ICRC reports that the number of War casualties in a Kandahar hospital are “hitting record highs”. Mirwais Regional Hospital had nearly 1,000 new patients with weapon-related injuries in August and September, what was double the figure a year earlier
What about
Mass graves in Iraq
Oh no but that’s okay, because Baracks a cellllllllllebrity now!
Isn’t he coool