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January 24, 2008 - 10:48pm
Great stimulus package! Wait five months to supposedly fix an immediate crisis. They say, that due to this being a busy time for the IRS, people may not see these checks until June or later. But I have a better idea... Give all taxpayers earning less than $100,000.00 last year tax immunity. That's right...tax immunity. Just stroll down to your local H&R Block with your W-2, fill out a one page return, and have all your taxes from 2007 back in your wallet in 2 weeks. This way, we don't have to worry about the excessive burden on the IRS. Real money (well, as real as it gets today) would flow back into the economy almost immediately instead of in 6 months. Although I will happily cash my check when it comes, we all know that, as one pundit described it, it is "nothing more than a welfare check". And let's face it, our taxes only go to pay the interest on our mounting debt, which is so enormous as to be incomprehensible anyway.  Technorati Tags:
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That may be too much money
Submitted by acf on January 25, 2008 - 2:33am.That may be too much money for individuals to put into the economy in a reasonable amount of time. OTOH, I like the idea that a ceiling be set on who gets this money. I think that the very high earners already have so much disposable income, that the addition of a rebate won't affect their spending patterns, but will likely just go in the bank (or some other investment account). People at the low end of the income range usually spend all or most of any money they have, and this would likely be pumped right into the economy, which seems like the point of the whole exercise.
Not to mention that the high
Submitted by JoyfulC on January 25, 2008 - 4:48pm.Not to mention that the high income earners already got tax cuts from this administration. That was supposed to do wonders for our economy, but I don't see where it has.
Krugman wrote in the times today that giving money to people who are, today, reasonable financially secure won't help much. They'll save it or pay down debt with it. The only people likely to be truly helped by cash would be the working poor who will get some immediate relief while also spending the money -- putting it back into the economy -- right away.
But I'm not convinced that any economic stimulus package is going to work all that well anyway. This might be a situation in which we simply have to take our lumps. The money's probably better spent to help working families and the poor right now.
What a great idea! If they
Submitted by jgw on January 25, 2008 - 8:17pm.What a great idea! If they are going to give money away I suspect this is exactly they way they should do it.
I suspect, however, that we are screwed no matter what they do. Until they stop pouring billions into the wars and pork, and the corresponding borrowing, I just don't think things are going to get any better .
jgw
Port Angeles, WA