I'm doing my part

Did you watch President Obama’s address to Congress last night? I hope you did because it was epic, it was Kennedy-esque, and it was beautiful. Hubby and I watched it and several times we both had tears running down our cheeks. I know we’re in a jam right now with the economy tanking, but Obama’s speech was full of hope and optimism for the future, a future that we can get reach if we work together. I liked that the financial part of Obama’s speech was straightforward and focused on the problems, not who caused them. Early on in his speech Obama passed up a golden opportunity to slam the policies of the Bush administration as the reason we’re in this mess, but Obama is too much of a class act to stoop to those measures, while I would have done it for a cheap laugh. Guess that’s why I’m not President. He also very correctly stated that the root of our financial mess lies in decisions made nearly three decades ago (hello Reagan administration) and one of the things that started this mess was Reagan’s wholesale deregulation of giant swaths of the private sector. Without government oversight it was only a matter of time before the endless drive for profits led to the economic house of cards that is coming down around our ears today.

So where’s hope in all of this, you may wonder. Hope is in the steps we can take today to build a better tomorrow. Hope is in using our ingenuity and creativity to rebuild our country in a sustainable 21st century model that will run on alternative and environmentally-friendly fuels. Hope is in reminding the parents of this country, as Obama did so eloquently, that they are ultimately responsible for their kids’ education – turn off the television, unplug the video games, make sure the kids do their homework, go to those parent-teacher conferences, set a good example and make sure your kids understand that education is their key to a better future. In the same vein, Obama called on each and every one of us to embrace the idea that education is the future for us all and strive toward making the US the best-educated nation on the planet by committing to at least 1 year of higher education or continued education during his first term as President. “I’m doing my part!” should be the mantra of every student, whether it’s a child who goes to school instead of ditching or cutting class, or an adult who pulls those long nights to attend classes after a full day’s work. Yes, it’s tough to hang in there and complete a course of study, and it requires postponement of gratification. Sure, I’d love to be vegging in front of a “House” marathon instead of writing an essay exam for a class (which is what I was doing before I broke off to write this post) but there will be lots more “House” marathons after I finish my exam, while going to school is an opportunity I didn’t think I would have again so I’m making the most of it this time.

This leads me right into the tax credit Obama announced for paying tuition, a $2500 tax credit that made me sit straight up on the couch and go WooHoo! That’s an improvement over the existing educational tax credits, and one that I hope will also be good for grad school, not just undergraduate work. You know the difference between a tax deduction and a tax credit, right? Okay, here it is in a nutshell: a tax deduction reduces your taxable income, so it lowers the amount of taxes you have to pay. A tax credit is much more valuable because it is like extra money that goes toward paying your taxes, and each dollar of a tax credit has the same value as each dollar you paid in taxes from your paychecks over the course of the year. So if you paid $3,000 in taxes but your total tax bill is $4,000, without any tax credits you owe $1,000. But if you have a tax credit, say Obama’s $2,500 educational tax credit, then it’s like you’ve actually paid a total of $5,500 against a tax bill of $4,000 so you get a $1,500 refund. It’s just that simple and that sweet.

After watching Obama’s speech I felt proud that I’m already working to improve my education, proud that I already work in the nonprofit sector and am helping people improve their lives, humbled by the faith and trust that Obama places in each and every one of us to work with him to make our country a better place, eager to get started with the work that lies ahead, and hopeful that we can all create a better, brighter future. Optimism, what a wonderful feeling. Now let’s get to work.

Peace,
AuntieM