Your Tax Rebate Checks
According to a recent survey, the economy has become the most important issue facing our country – surpassing the Iraq war, staggering gas prices and health care. With that in mind, it seems that the timing of the 2008 income tax rebate checks couldn’t be better.
The checks, up to $600 for qualifying individuals and $1,200 for couples (and more for couples with children), began arriving the week of April 28 and will continue throughout the summer months. The stimulus plan also contains incentives for businesses to invest in new plants and equipment.
The key to stimulating the economy with rebate checks, according to most economists, lies in the recipients going out and spending the money and, just as importantly, spending it on American-made goods and services. Whether this year’s stimulus plan will have its intended consequences remains to be seen.
Studies conducted following the tax rebate checks issued in 2001 show that recipients spent about two-thirds of their rebate checks within six months of receiving them. The most popular expenditures were clothing, health care and food.
So, what do you plan to do with your tax rebate check? Do you think the plan will succeed in stimulating the economy? If you own a business, do you plan to take advantage of the incentives being offered? Please share your thoughts on this topic by posting a comment below.
Average (Not Rated)
April 29th, 2008 at 9:14 am
How will I spend it? I’m not spending it.
Will it work? No, I don’t think the plan will succeed in more than a blip. $112B in a $13,000B economy is insignificant. It might help the Chinese, if people go out and buy “stuff” at WalMart–with money the Feds borrowed to give to us.
We have a decent economy but we are addicted to living beyond our means–and the Federal government is the biggest part of that spending money we don’t have. The “rebate” checks are a prime example. The Feds are borrowing all that money (from the Chinese and the Saudis, among others) in order to pay it to us. They are borrowing money for us and giving it to us. It is intended to feed our consumption in order to create more economic activity. Next we have to pay back the borrowed money. What do we do then? We take the power of the Federal government to put people in jail or get them to pay taxes–so most people pay the taxes. Sadly, however, we are not even just having the government pay us and then having it pick our own pockets to pay the debt. We are setting the Feds up to pick our children’s pockets. It’s truly sickening the bad road we are on. We can turn away from that path, but it requires that people put government in its place–and that is NOT to be our “Sugar Daddy” or “Daddy” at all. We are Americans, not sheep, not children. We were given our great country by the hard-working generations who built it for us–making sacrifices so that their descendants would have great blessings. Now we are risking selling it to foreign investors and giving it to illegal alien invaders. We need to wise up to the corrupting influences in Washington. We need to read our Constitution and the Federalist Papers and get MAD about what our government is doing.
Come on, America, “Let’s roll.”
May 2nd, 2008 at 11:05 am
Honestly $600 won’t make a difference one way or the other in my life in the big picture. It’s as ridiculous as the idea that putting the gasoline tax on holiday for the summer months will solve the problem of high gas prices.
Not to mention the fact that I already have so much stuff I can barely fit my car in the garage! I’m not sure what else I REALLY need. SO that 600 will probably go into the I would like to buy a house one day fund.
www.CarmenElectrode.com
May 2nd, 2008 at 2:57 pm
I don’t think that the rebate check is a good idea, but since I will be getting one anyway, my hubby’s truck needs a new tonneau cover.
May 6th, 2008 at 9:30 am
I dont think the economey is the problem with our country. because u dont see people doing that much vadilisum. I think we take very good care of our country.
May 6th, 2008 at 9:33 am
i believe that the economy going into a great downward spiral. But with the Iraq war and gas prices and whatever else, that is making our economy struggle. People are starting to see what is happening to our economy but very few are doing anything about it. It is kind of a disappointment.
May 6th, 2008 at 9:34 am
I think that the tax rebates will just boot the economy up more because people will just spend the money on things that are not necessary.
May 6th, 2008 at 9:36 am
The tax rebate isnt going to do any thing for this economy becouse most of the contries things that are for sale are fourin. I am not going to spend it.
May 6th, 2008 at 9:42 am
what is a tax rebate? u may ask yourslef this alot but i find that if u invest all the rebates it will better you in the futurew
May 6th, 2008 at 11:04 am
GAS PRICES ARE TOO STINKIN HIGH. I AM A POOR LITTLE MEXICAN AND IT REALLY SUCKS TO HAVE TO PAY FORTY DOLLARS IN ORDER TO FILL UP MY LITTLE GRAND AM. I MEAN I CAN’T EVEN BURN OUT AT STOPLIGHTS ANYMORE BECAUSE I AM SPENDING AT LEAST A DOLLAR EVERY TIME I DO AND THEN I GOTTA CHASE ALL THOSE PENNIES DOWN THE ROAD. WELL THATS ALL I HAVE TO SAY SO PEACE HOMIES WHATTUP MR Z
May 7th, 2008 at 6:15 pm
bankin it. i will not spend it simply because the government says to. do not trust em. HOOD DOWN!!