Mexican American Recovery Essay

"H.R. 8, Job Protection and Recession Prevention Act of 2012." (2012). Legislative Digest. [online] available: http://www.gop.gov/bill/112/2/hr8.

"People say, 'Oh, you're going to get tax cuts up front, but you're going to get tax increases at the end. Don't just look at the end,'" he said. "That's part of the bill. That was their choice to make a lot of middle-income West Virginians pay for tax cuts for the

The bill officially titled “Unemployment Insurance Reauthorization and Job Creation Act of 2010 (HR 4853),” extended many of the Bush era tax cuts of “The Economic Growth and Tax Relief Reconciliation Act of 2001” (EGTRRA) that then President Bush signed into law. As per the announcement on Desire to Learn, I’ll call this new bill “The Bush Tax Cut Extension.” The bill was signed into law December 17, 2010. I am happy with most of the provisions and cuts as they positively affect most individuals’ lives in this country, including mine. The Bush Tax Cut Extension applies to small businesses as well but I will focus on the laws that affect mainly individuals. Working people, both rich and poor, will be able to save more with the tax

The Lifetime Learning Credit is worth 20% of up to $10,000 that you spend for post-secondary education and training. The credit can take up to $2,000 off your taxes for fees spent on college courses, training classes and earning certifications. The American Opportunity Tax Credit returns the first $2,000 that you spend on college expenses for each dependent and 25% of the next $2,000 for a maximum credit of $2,500 per student.

The unemployment rate rose from 4.9% to 5%. This is usually indicative of the return of employees to the job market. This is a positive sign.

The economy growth slowed to half a per cent and the unemployment rate has risen to around 5.75 per cent by November 2009, which remained this level to 2011.(RBA)

The costs to the economy and individuals are substantial. Being unemployed affects individuals and the economy in the long run. Unemployment has been significantly higher among the young people who have low level of education or living in low socioeconomic income areas. High unemployment rates affect government expenditure which would result in higher benefit payments and low tax

It is argued by some people that tax cuts serve as economic stimulus, such as it may accelerate job growth, and provide short-term employment. Shuai and Christine (2013) suggests that corporate tax cuts can boost job growth (p.191). Using data from the Tax

previous year while the number of unemployed persons fell 2.6 percent from the previous year to

With the rise of 12,000 newly unemployed people in the recent quarter, the government has seen the end of unemployment falls. This seems to continue into the near future, with no relief yet prominent in the issues of less demand and decreased consumer spending. Further, more people are continuing to lose their jobs and this will only cause the reduction in spending power of families, decrease money in the economy and increase in reliance upon the state. (William Schomberg and Christine Murray 2013)

The unemployment rate rose from 24.78% in 2012 to 26.09% the following year. Staring 2014, the

Despite uneven monthly jobs data, the economy’s labor utilization continued to rise. In January and February, 201,000 and 266,000 jobs were added, respectively. March jobs numbers, however, were disappointing adding only 119,000 jobs causing the unemployment rate to stay unchanged at 5.5% in February and March. Nevertheless, the unemployment rate continued to fall in the first quarter and the trend continued in April and May. Total number of jobs added in the first quarter was 552,000. April job numbers confirmed that March was a one-off dip, adding 221,000 jobs, which brought the unemployment rate down to 5.4%. Although 280,000 jobs were added in May, unemployment rate was recorded 5.5%, due to an increase in the civilian labor force by 0.25% compared to a 0.1% increase in April.

insurance or assistance available in the country. Hence an increase in the unemployment rate may lead to an

Though the employment rate has gone up over the years and as per an article in

The tax rate for individual and corporate tax was reduced to bring more people under the tax net.