It does appear that Canada's stimulus was a lot more effective, and only half as big on a per capita basis, even discounting the 700 Billion spent on TARP before Obama was elected. I wonder how many Goldman Sachs and General Motors sized industries they had to bail out?
Much of our stimulus was in the form of tax cuts. I'm not sure how much of Canada's stimulus was the same.
There is quite a bit of difference between TARP and the Stimulus plan. TARP was 700 billion of which Bush spent 350 billion and left 350 billion to Obama. Obama still hasn't spent it all and most of TARP has been paid back.
The Stimulus was a different story. It was designed for "shovel ready" job which of course we now learn didn't exist so most of it went to bailout Democrat contituent groups. You claim most of it went to tax cuts so I ask you to compare the so called Obama tax cuts to real tax cuts under Bush. When you give a rebate you don't get the real advantage that you get with rate cuts. Once the rebate check is spent it is gone. Those still working here are benefiting from the Bush tax cuts.
Over all the stimulus program was a true waste of taxpayer dollars as the results show.
Obama Tax cuts
Total: $288 billion
Tax cuts for individuals
Total: $237 billion
• $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
• $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
• $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
• $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
• $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
• $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
• $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
• $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
• $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
Bush Tax cuts
Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.