Tuesday, October 14, 2008

holy toledo Obama's plan to save the economy

In Toledo, OH Obama has laid out his plans to save the nation economy.

Obama is still pushing many of the same programs he has been running on since the beginning of this race but has added a few things that I don't remember seeing before.

Obama will offer companies a $3000 tax credit for every new employee they hire in the years 2009 and 2010.

extend a law that was passed earlier this year but expires at the end of the year that raises the amount of money small business can raise to $250,000

0 capital gains tax on money made by investments into small business.

for the years of 2008 and 2009 Obama will end the penalties placed on people taking money out of their IRAs due to hardship.

let Seniors delay taking their money out of their 401k (if they want to) instead of forcing them to take their money out by the time they are 70 1/2

tell the Sectaries of Treasury and HUD to be more active in fixing the terms on mortgages to better suit people.

end a loop-hole that allows judges to fix terms on second homes and vacation homes, but doesn't allow the judge to fix the terms on primary residence.

make sure people facing foreclosure have at least 90 days moratorium

give states $25 billion so they don't face budget crunches

be ready to give more help to the banks

the money for that $850 billion bailout shouldn't just go to mortgage assets but things like student loans, individual mortgages, car loans and other things.

credit for small business and local governments.

eliminate fees on the SBA

and have an emergency lending organization for small business (similar to the one that was in place after 9/11)

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