Obama on the Dollar

Wells Fargo mortgage rates are definitely heading higher but who knows where they will end up?  I know that President Obama will do his best to keep mortgage rates low for the people.  The only issue is that rates have been historically low for quite some time and the housing market hasn’t gotten much better.  I have all the confidence in the world that President Obam will figure it out and send Wells Fargo mortgage rates much lower.

Beginning April 1st, President Obama’s tax cuts took effect.  For 95% of working individuals, there will be a $400 tax credit given out throughout the remainder of the year.  There will not be a single stimulus check; the savings will be seen your your weekly or bi-weekly paychecks.  You can expect to see about $13 of an increase in your weekly paychecks.  Some companies are actually putting that savings on a seperate part of your paycheck just to illustrate the savings that President Obama is giving you.

There are many interesting calculators online that show you the difference in the Obama plan as compared to that of many Republicans.  Some of the calculators are:

What’s Your Obama Tax Cut?

Obama Tax Calculator

2009 Economic Stimulus Tax Comparison Calculator

Each of the calculators illustrate the same point; most Americans will be getting taxed less which will save them more.  Unless you make over $250,000 you are likely to see a paycheck that is larger due to the economic stimulus package.  We hope that this actually does stimulate the economy and helps us out of this troubling recession.  I think we all agree that President Obama is trying to change the way things used to be as that obviously did not work.

As always, make sure to vote for President Obama on the Dollar here. We are trying to get over 1 million votes, so tell your friends!

-Lamar Smith