Apparently $600 will cure all that’s ailing you.
The idiots and the even bigger idiots have settled on a huge economic stimulus plan that will make the deficit even more gigantic. Apparently these people think by giving you a check for $600, you’ll save the economy. Funny stuff, considering $600 will buy me almost a whole tank of home heating oil. Hmm..do I buy a big screen TV, or do I buy heating oil..which will I do.
Here’s a better idea: waive the gas tax for a month. It will probably cost about the same, but it will restore consumer confidence in a way that $600 does not. You’ll instead be like wow gas is only $2.30 a gallon! I think I’ll drive to Disney!
January 24th, 2008 at 2:17 pm
The federal gas tax is 18.5 cents a gallon. A repeal of the federal tax is CERTAIN to rejuvenate the economy!
(note: not saying the tax rebate will either)
January 24th, 2008 at 5:45 pm
True. I was including the state tax in there as well, which of course, would vary by state. Sorry!
January 24th, 2008 at 7:05 pm
TAX CUTS FOR THE RICH! Waiving the gas tax would benefit people who drive the most and have the least fuel efficient cars, which is to say, not low-to-middle income people. People who ride the bus to work, don’t have cars, etc. would not benefit.
I figured you would like this “tax rebate” since in many cases low-income people who did not even pay tax would get it, especially families with lots of kids.
Also, I’m not an economist, but I am just guessing that $100+ billion in additional consumer spending in a short period of time will have some effect on the nationwide economy, even if $600 is just a blip in Dan’s Economy.
January 24th, 2008 at 7:47 pm
I agree with Neil. the $300 tax cuts several years ago had a noticeable impact on the economy and so will this.
I think its absolutely ridiculous that people who don’t even pay income tax are getting a tax refund…now thats a crock of crap
January 24th, 2008 at 8:55 pm
I’m not a big believer in these tax rebates either. I’m not an economist, but I don’t see how putting the country in further debt does great things for our economy in the long run.
One of my friends told me today that he sees the U.S. looking more and more like England in the 1700’s. The more I think about it… the more that comparison seems apt.
January 25th, 2008 at 9:10 am
Unless 600 bucks allows people to keep from being foreclosed on, or lets them wipe out their rampant credit card debt, this won’t fix some of the underlying problems. That being said, 300 bucks per kid? Woot! I knew they’d be good for something some day.
January 25th, 2008 at 9:50 am
Who’s fault was it that a person is in that position (credit card debt or buying a house thats out of their price range)? It is certainly not the govt’s fault and it shouldn’t fall to the govt to fix those issues.