Independent Democracy

Thought provoking commentary

What will you do with your tax rebate check?

By June, approximately 117 million people will get $600, $1,200 (+ $300 per child) rebate checks in an effort to “jump start” the economy. It’s all really a joke in my opinion. All it does is increase the national debt even more and if the “jump start” theory works, it will line the pockets of the businesses who most people will eventually spent the money with.

The plan is a national embarrassment. In addition to the $100 billion cost to simply give away money to millions of people, it also provides $50 billion in tax breaks for businesses. Are you kidding me? Unless a business is going under, why must we give a tax break to a company that’s already profitable? In addition to the profit the businesses will see as people spent their rebate check with them, we’re going to increase their profits even more with tax breaks. All this does is line the pockets of shareholders. We’re actually giving tax breaks to companies even though they already pay millions of dollars in salary to their CEO’s. We’re giving tax breaks to companies who fire Presidents and CEOs while they give them millions of dollars in severance pay as they walk out the door. Sorry, no CEO is worth $50 million a year in salary.

Where do people think this money is coming from? Do we have money tress growing on the grounds of the Treasury I don’t know about? One of the problems with our economy is the growing foreign debt and our government policy of spending money we don’t have in tax revenue. When individuals do this long enough, they eventually declare bankruptcy and destroy their credit. When the U.S.A. does it, we sink deeper in debt with an IOU to our children.

Imagine what our country COULD do with $150 billion. We could spend it on renewable energy initiatives and give away the electricity generated for free. We could use it to shore up the Social Security coffers. We could start offering free health care to children. We could repair the 500+ bridges in the country that are considered “structurally deficient”. We could upgrade our schools, pay teachers more, increase pay for our military personnel, improve mass transit in our smog filled cities, etc., etc., etc.

Now I know the $150 billion wouldn’t pay for all of any project I just listed. But aren’t those a more pressing “need” than free money to 117 million people and tax breaks for profitable companies?

I will take the $$ and throw it all in my IRA. I know that’s not what big government wants me to do with it, but that’s too bad. I’ll need this “loan” later when taxes eventually go up to “pay back” this Christmas in June check or when Social Security goes bye bye due to the money well running dry.

What will you do with your Christmas in June bonus check?


January 24, 2008 - Posted by | Current Events, Money, News, Politics, Random | , , ,

1 Comment »

  1. well, I ‘ll make sure it don’t in up in a foreigners hand.

    Comment by madmilker | March 4, 2008 | Reply

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