What has Obama done well?

[jsarno]

Originally Posted by firstdown

OK Demek25 I have a positive for Obama. While watching the guys put new windows in my house I thought about the $1500 tax break I will get because of Obama. So his tax break for up grading windows is something he has done well/right. I get a tax break and the window guy gets the job. SS answered the Bush ? for me and no I was not a big fan of Clintons. The one thing with Clinton is that the Rep had control of congress so Clinton could only do but so much.

I got new windows under the Bush administration and they were deducted off my yearly taxes...is that what you are referring to, or was there an actual program to give you a tax break as well as you will get the deductions on your yearly taxes? Or a separation of the two? I am confused on that.

[firstdown]

Originally Posted by jsarno

I got new windows under the Bush administration and they were deducted off my yearly taxes...is that what you are referring to, or was there an actual program to give you a tax break as well as you will get the deductions on your yearly taxes? Or a separation of the two? I am confused on that.

I think the Obama deal is a true tax credit instead of just a write off. For example if I owe 3000 next year before my tax break when its applied I will only owe 1500. Under the Bush plan I really would only save at my current tax rate. So if I claimed 1000 for windows then that is not counted as income and I save 300 if I was at a tax rate of 30%. Under Obama's plan I can write off 30% of the total cost up $1500.

[jsarno]

Originally Posted by firstdown

I think the Obama deal is a true tax credit instead of just a write off. For example if I owe 3000 next year before my tax break when its applied I will only owe 1500. Under the Bush plan I really would only save at my current tax rate. So if I claimed 1000 for windows then that is not counted as income and I save 300 if I was at a tax rate of 30%. Under Obama's plan I can write off 30% of the total cost up $1500.

Gotcha...thanks for the explanation.