Tax Rebate is a Bandaid

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The Feds have announced that as part of an economic stimulus we may be recieving a tax rebate this summer. Most likely there are various political agendas behind this along with an effort to stimiluate the economy. The tax rebate is supposed to be for those who made over 3,000 dollars and not more than 150,000. Should be anywhere from 300 to 1200 dollars.

Economic experts around the country have been speculating that the economy is headed for a recession. I'm not complaining about recieving some extra cash to ease the cost of living. However what is truly needed is a complete new system from Gov't to economics. The entire global government and financial system is in shambles and its only a matter of time before a worldwide collaspe occurs. At that time the things people place most of their trust in will be completely valueless. Financial institutions,insurance,banks even currency itself will be absolutely worthless. The time is fast approaching where the only thing that will be of real value is our relationship with the Man upstairs.

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If America is the land of

Submitted by Toad on Wed, 2008-01-30 21:13.

If America is the land of the free then why does it cost soo much too live...

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Blazin

Submitted by djbtol on Wed, 2008-01-30 10:53.

I agree with you that the rebate checks as part of the economic stimulus package are a mere bandaid. As a man short on funds, I will gladly receive the rebate check and spend it. But as a person who can read, think and ask questions, I believe the rebate checks are a bad idea. Hypocrite?

Original bill was a little less than $50 billion dollars. The dems in Congress were not satisfied with the contents of this bill, so they 'improved it' and now it is about $150 billion dollars. (It is a little scary to see how easily Congress can spend an additional $100 billion dollars, for which they will have no accountability or responsibility.) Did you see one instance where a Congressman felt the need to explain to the people why this money had to be spent? No, you did not. Rather you saw Congress puffed up and proud over their great accomplishment.

Those items added to the bill (such as extended unemployment coverage) are social welfare programs which have nothing to do with stimulating the economy. Just another gravy train running through Washington.

Last comment. You mentioned 'political agendas' at one point. In my mind I substituted 'buying votes (for the party).

djbtol
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Hey thanks djbtol! I

Submitted by blazin on Thu, 2008-01-31 22:42.

Hey thanks djbtol! I appreciate that response. Man you should have wrote the original blog post! Very insightful! Yeah sounds like the guys and gals in Washington have a ton of PRIDE! You know its written pride is before a crash!
GOT MOOLA?

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The guys and gals

Submitted by djbtol on Fri, 2008-02-01 12:14.

in Washington all need instruction on how their bad government policy decisions are hurting the U.S. economy. I'm no economist or financial guru, but I try to listen to some people who know a lot more than I do.

Thanks,

djbtol
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We have to worry about "experts"

Submitted by Elly on Fri, 2008-02-01 12:36.

aren't experts described as "a drip under pressure."

Elly

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You are right, Elly.

Submitted by djbtol on Mon, 2008-02-04 13:36.

And the pressure is greatest when re-election time approaches.

djbtol
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Tax rebates usually only benefit the ...

Submitted by huttriver12 on Tue, 2008-01-29 18:04.

higher paid. Dedicated assistance is the best way to help struggling families etc.

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These tax rebates

Submitted by djbtol on Wed, 2008-01-30 10:40.

may be a bit different than you are thinking. These are not a tax deduction or loophole that an accountant or tax expert may better be able to take advantage of. This rebate is an actual check. You need only take it to the bank and then go shopping.

These rebate checks would not be of much significance to a wealthy person. On the other hand the middle class and lower income folks will have countless good ways to use the money.

In line with your perspecive of helping those struggling, many of the lower income folks getting this rebate check (returning a portion of what had been paid) did not pay any taxes in the first place. It is a true gift handed to them from their neighbors and their children!

djbtol
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Let's hope they get it right

Submitted by Elly on Tue, 2008-01-29 13:47.

as the whole world's economy is looking at events in the US.

Elly

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Looking at the U.S. -

Submitted by djbtol on Wed, 2008-01-30 10:57.

As I think about how fickle Wall Street (financial hub for banking, stocks and bonds in the U.S.) is, it is a scary proposition to think that another country would try to react to or act in accord with the U.S. economy. From the view of an outsider, the whole thing seems very shaky.

djbtol
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