So, what will the Obama administration mean for your family's money?
First, the obvious caveats. The financial crisis looms over everything and will have a huge effect on what President Barack Obama is able to accomplish. So, too, will politics and the onrush of events.Nonetheless, Sen. Obama laid out various proposals during the course of his campaign. These proposals offer at least some guide to what we might expect from the Obama administration when it comes to our money.
In response to the financial crisis that broke in September, Sen. Obama proposed making unemployment benefits tax-exempt for the next couple of years. The biggest beneficiaries would be unemployed taxpayers with other sources of income, such as a two-income couple where one of the partners loses their job. The poorest of the unemployed won't benefit much: They weren't paying tax on their unemployment benefits anyway.
So, what will the Obama administration mean for your family's money?
First, the obvious caveats. The financial crisis looms over everything and will have a huge effect on what President Barack Obama is able to accomplish. So, too, will politics and the onrush of events.Nonetheless, Sen. Obama laid out various proposals during the course of his campaign. These proposals offer at least some guide to what we might expect from the Obama administration when it comes to our money.
In response to the financial crisis that broke in September, Sen. Obama proposed making unemployment benefits tax-exempt for the next couple of years. The biggest beneficiaries would be unemployed taxpayers with other sources of income, such as a two-income couple where one of the partners loses their job. The poorest of the unemployed won't benefit much: They weren't paying tax on their unemployment benefits anyway.
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