Posted on 01/19/2008 5:16:07 PM PST by Libloather
Will the check be in the mail?
Last Edited: Saturday, 19 Jan 2008, 1:47 PM EST
TAMPA - Cash can be like a jolt of caffeine to a national economy. In 2001, the federal government sent every income taxpayer a $300 rebate check. It ran up our debt, but also helped end our last recession.
Now President Bush and Congressional leaders want to try it again. This time they may send every income taxpayer a larger check. Economists say that could stimulate our economy again if recipients spend much of their rebates on products.
"Letting American people keep more of their own money should increase consumer spending," said President Bush. That could potentially pull us out of the credit and mortgage mess that's hurting the entire U.S. economy. For this to work, federal leaders need to act soon.
"A stimulus must be timely—if it comes too late, it can interfere with a recovery," said House Speaker Nancy Pelosi.
President Bush also wants tax credits for small businesses that could entice them to expand and hire. Congress may also increase unemployment benefits, and increase food stamp allotments.
On the downside, big rebates can drive up debt and inflation over the long run, which takes money out of our pockets. But our government is focused on a temporary stimulus, to address the problems we have today.
Back in the day, Puff Daschle said that wasn't enough to buy a muffler. And you'll never guess what fell out from under my car the very week I got that check.
Well? Was he right? Did it cover it?
A hundred billion dollars in ‘stimulus’, plus or minus. And not a word from anyone on how to pay for it.
Well, I could save you from that fate if you will just sign your check over to me. :-)
That goes for anyone that complains that giving me some of my money back is going stop us from paying our national debts. As if they were going to anyway.
Now I can afford two mufflers. Better make the appointment.
:-)
Another opportunity lost for meaningful tax cuts for those of us that PAY taxes. Get a real CUT to taxes starting at the TOP and Corporate levels. The RICH are the ones that create jobs and influence the economy quickly. Giving everyone a check is just buying people, not a true help to the economy. Tax Cuts work EVERY TIME. And we have the highest Corporate rates in the world.
With the cost of heating oil and food going through the roof, we could sure use some of our money back - permanently!
If they wanted to help this economy they would repeal the gasoline tax for a year or two. Fuel costs are what what is driving this economy down right now.
Doesn’t this amount to just an advance on our tax returns? Like the last time in 2001? That’s not a rebate.
European sports car with TWO mufflers on the same pipe? (One is called a mid-muffler.) Nope. But throw in another $500 for LIFETIME coverage? You betcha...
Giving all us little people 800 bucks, and further devaluing our money while you do it, doesn't seem like a very good solution to me.
I keep asking myself if you have all that to give.....why are you still taking from us every week.
Heck some are even campaigning to take more, while praising a check for everyone. Bizarre
What a fallacy. I've already "paid" for it, I'd just be getting some of the thousands that I already paid in back.
You don't have to pay for tax cuts, all it simply takes is for Uncle Sam to take his hand out of my pocket. I'm also completely convinced that I can spend my money better than the Feds can.
$800, huh? Well it sounds like the President's scheme will cover you.
I think we’re looking at a socialist response to the fascist overtaxation. I am so down because Duncan Hunter has reportedly dropped out. We need to fix the tax structure.
Land Sakes! I hadn't thought of him in years!
I suppose he's disappointed that I haven't mourned his political demise.
More socialism from the GOP.
The fed will just ramp up the printing presses. More "funny money" that grows more worthless each day.
Glenn Beck had a government accountant explain the current state of the real debt. It amounts to $448,000 for every living person in the United States. We're not going to tax out way out, or spend out way out or grow our way out. A financial tsunami is coming and there isn't much any of us can do about it. Prepare as best you can for some lean time with worthless currency.
Rebates are a gimmick. Besides, at least 1/3 is going back to the Feds anyway in your next tax return.
Now is the purrrfect time to propose another Tax Reduction Bill. Hell, even the libs might back this if it were sold as an economic stimulus package.
Will this happen? Nope. Assuming the RNC could even comprehend the idea, the jellyfish would quivver and shake in their boots.
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