Tax rebates of up to $600 per person could be in our hands by early May. Is this a good idea? Can you think of any drawbacks? Could it just be an election year ploy?
Sunday, January 27, 2008
Tax Rebates by May
Tax rebates of up to $600 per person could be in our hands by early May. Is this a good idea? Can you think of any drawbacks? Could it just be an election year ploy?
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39 comments:
I think we are just screwing with the process too much...Free markets work best when the government doesn't get involved. Period.
Rebates may help put some people at ease, but there is no guarantee that they will spend the money. A lot of people would rather just put the money into savings instead of spending it and giving a needed jolt to the economy.
Sometimes the economy just has to suck. We need to stop trying to "fix it" and let things run their course. Keep spending, keep investing, keep the money circulating. There is only so much the government can do. It's up to individual consumers and investors now.
Good idea? To some, yes. Of course some kids are going to think it's going to be a good idea because they're getting money. I'm not going to oppose it because, well, I'm getting some money in my wallet that's not there right now. Drawbacks are that the government is trying to get people to spend spend spend to get the economy going, right? Well, some people are going to put this into the bank because they're afraid of not having any money latter. And about the election year ploy, we'll just have to see.
Kelly Zeller 2nd
This idea, like the other article's idea, involves giving us money again!! If both of these things actually happen, then all of us kids will be cashing in a lot. If i get 600 dollars, I will go by myself ps3 games or a new guitar. A good percentage of people will spend this money, primarily the teenaged ones. So i guess it can boost economy over the barriers and help us out.
I guess this isn't a bad idea but then again the money isn't going to go directly too muhc. My parents deserve to keep it or will probably put it in savings or towards some payment they have for the activities I'm involved in. I'm sure there are some drawbacks which will be interesting to see when the money is in fact handed out.
Ah, rebates. The seductive killer. While an enticing extra $600 may seem like something that couldn't possibly have any drawbacks, the problem of where that extra $600 per family is coming from. Is this just another sign of a recession and the early stages that the government is taking to fix it? I would definitely say yes. The reason for the expected rebates is no other than basic fiscal policy. Increased governement spending and decreases in taxes in order to stimulate the economy just as a recession occurs in order to beat the back the effects. However, the problem still remains: Can the goverment push through its policies in enough time for them to have an effect for the better?
If we're getting money from the Government to put into the economy, why dont they just spend some money and boost the economy.
By no means am I against "Free" money but basically as we've heard "there is no such thing as free lunch!"
Definitely a good percentage of people are gonna spend the money they recieve, but why is the government doing this? isnt their any better ways to boost the economy w/o our own nation going into more debt?
I think the general idea of the rebates is a good idea, because we're encouraging people to spend and inject the economy with money. Unofrtunately, not everyone will spend the money, which is the downfall. Given the fact that we have an alleged ailing economy, wouldn't people want to save money in fear that the market tumbles even farther down? I don't think it's so much of an election year ploy, but possibly an effort by President Bush to try and shed positive light on his reputation.
I can see new rims on my ride now. Thats just a joke. Even though this does nothing for our economy and it will use government funds to complete the task I am for it. No matter what happens people will spend at least a percentage of the money. But really its just a trick the government learned from rich people such as Oprah. "New cars for everyone!"
In some sence i can see how this is gonna help, ppl with strugling income will of course use this money. The US is targeting those kind of people, as you were saying, people with higher income will have a reduced slice of the pie, simply because they dont need the money, they already are spending money on things. The less fortunate people such as struggling young adults, or single parents, will gobble up these 600+ dollars in a month to pay of a cornocoupia of bills etc.
United States — Population: 301,139,947 X avg. $500 per person = $$150,569,973,500....????
they should really think about how far along we are in this "reccession" before using that much money to try and "heal" the economy....word
It is a good idea to give away government money to help out the little guy whose trying to make a living and wishes for some small gratitude for his/her hard work. Some drawbacks are how this money given away will affect us in the future. Possible future increase on taxes, or yes it could just be an election ploy. I recall nearly 4+ years back, President Bush gave out money to families with children under the age of 16, so that each child under 16 years of age would receive $400 each. This to me seemed like a plan to gain some trust and support from the voters, so that Bush would be reelected. The money probably has more than one reason to why it is being given, but I'm for it, since I will receive a little cash for my pockets and lets hope the government doesn't issue future tax increases for their loss in money from this.
I'm not sure. I think that if the government really wanted to boost the economy they would give $600 to every irresponsible teenager and less to responsible parents who, from my experience, would be more likely to save it than waste it on 2,500 packs of dentyne ice or glowsticks. Something about creating a larger debt to boost the economy seems off in my mind.
But, of course, as I have only 6 dollars in my checking account at the moment, money sounds good. However, I would hate for it to become a bittersweet pill we are going to feel the effects of later.
Even if it is an election year ploy, $600, or $300, is not enough to swing my vote.
Can’t say I wouldn’t mind an extra 600, but this is an awful idea. I thought we were in massive debt ?? Inflation is already high; wouldn’t this hack up inflation even more? I think it would be better to work towards lowering government spending and taxes in the future, maybe a tax reform, eh?
What is $600? I mean REALLY? A car payment plus insurance for a month? MAYBE?
What about $1,200 for couples? House/apartment payment...maybe some utilities for a month?
Most people won't be using this money to buy cell phones and iPods.
They will be paying back student loans, mortgages, and car loans. I don't really know if this will put money in circulation since its not directly being put into things such as retail stores. But, since its going right back into the bank, I assume it won't really have much affect.
"The only way to get out of a recession is to spend your way out." This is true, but adding on another $150 billion onto our already massive national debt is not a good idea. There are too many people that will take these checks and put them into savings for their kid's college funds or invest them, completely negating the whol reason for doing this. I have asked my parents to open me a roth IRA up with my $300 in it because when I get to be 65, having all that money will be nice. Stuff happens and what goes down must come up. We need to let history run its course and get out of it.
The idea of giving every adult $600 and every dependent child $300 is definitely a terrible idea. The government expects that the money given to us will help boost are economy, but in actuality mostly everyone will place that money in savings and will slowly spend it (I am!). I mean, who knows how it will all work out?! I'm not complaining, I'm getting $300! ;-D
So all this money is basically a bribe for America to go out and spend spend spend! Funny because I bet a majority of people are going to save that 300, 600+ dollars instead of going retail crazy. This idea is just showing how far the government will go to control the economy. "Let's give them some $$$ so that the people will buy crap and help the economy!"
Guess what gov't: there is NO such thing as a "quick fix." Ha, losers. Whatever, though. I'm one to talk since I'm more than likely to spend my 300 on a new purse.
The issue of $600 being given to independent Americans is that they have either the choice to spend it or save it. In order to help the economy the money must be spent. So... here's the solution. What if the Government handed out $600 gift cards to Americans where they couldn't save the money because it was actually already spent. It would have to be some type of gov. gift card. Kind of like food stamps, =(.
Pathetically, the biggest reason this would work is because most of the populace doesn't know better than to just spend it. Few people are going to consider paying off their debt or investing in anything- the kinds of people who would won't be getting the money.
Yeah, it'll work but because the average American doesn't know how to spend money wisely. Election year ploy? hard to argue, since pretty much everything politicians do is a "ploy" to stay in office.
While this is occurring in time for the election, it is not necessarily in response to or because of it. Although I don't disagree with having a couple hundred more in my pocket, this plan is merely temporary. Lawmakers should instead start discussing a plan for a permanent tax rate cuts instead of opting for quick fixes.
There is a reason that both Republicans and Democrats are pushing for tax rebates to be send out. It is because our economy is fueled by us, the consumers, and whether we like it or not, we are currently in a period of downtrodden spending. To be honest, I am not sure if it will work, but apparently Bush is willing to try anything once.
This $600 won't benefit our economy. Either way it won't have people out buying random things they don't need. Or at least not in my family. This $600 would probably go to those who we owe. Debt is so common now that it's not known as a such a draw back.
History repeats its self. I don't think the government should mettle into the economy because it usually should fix its self. Time will tell.
As for negatives about this $600, it does increase our debt as a nation, but we are so far into debt, I don't think it really matters at all anymore.
Well all i know is our nation is in so much debt that this handout of money will do nothing to hurt us. Unless We just horde it like some """s. No offense. For me i probably will never see that $300. And knowing my mom she'll spend that $600 as if it were like saying bless you after someone sneezes.
I think it is pretty cool for those who get the rebate. But i also heard that people who make a certain amount of money don't get those rebates? Well if that is true i definately don't like that. Everyone should get the same opportunities if they have a full time job even if it pays better than some. I honestly don't know enough to totally understand how the whole system works, but if this whole rebate thing follows through then I will have more confidence in our economy. I am not exactly worried about it right now or anything, it is just scary thinking about how I will have to become a part of a business which deals with this sort or organization in just a couple of years!!! I really need the heads up of what is going on. Hopefully i will understand it more this year.
oooooppsss that last comment about not understanding was from me CHELBI! i didn't realize i didn't have another chance to put my name!!
For some people, the idea of getting $300 or $600 from the government is very beneficial. However, many people would rather pay off debt, or stick the money in a bank rather than spend it on things in order to help the economy. I can understand why the government would want to give people money, but there are also many drawbacks with the idea.
Texas rebates = ballin'ness. End of discussion and blogization.
PS: I did not forget to leave comments this week. giggity
more cash in my pocket means more cash in the diening old men= more money for me!! just kidding, i honestly do not think i will ever see that check, my parents will just keep it but that is fine with me because i don't have a job and they pay for for everything anyways so it would be the same as if i had it.
were we supposed to comment on both of these dealies.
I think its rather counter-productive for the economy for the government to give money to stimulate it. It's like someone giving you money and then asking for it back, its pointless and a self-fulfilling prophecy.
The tax rebate is half good half bad. Yes the rebate might stimulate the economy, if people don't put it in savings accounts. Yet, the tax rebate only increases the U.S. debt. Seeing as how the debt is not as big issue of issue as the declining economy, at the moment, the tax rebate is more good than bad. Heaven knows that we can't hold on to so much money for long. Most Americans will spend it, immediately.
I think tax rebates would be a great idea, but the buzz word "recession" seems to defeat the entire purpose. People are going to put the money into the banks and save the money. Hopefully people will realize the money is for us to spend and not save.
I don't think the rebates are an election ploy. Bush is just trying to leave his office on better terms than when he entered.
I think it would just be lovely to have $300 for me, and $600 for my parents. I can buy a new coach purse or something. Yet, I do get the feeling that this will affect our future taxes or an extra cut on paychecks. I personally believe that this is a good idea, but there could be the slightest chance it will hurt us in due time.
A free $600 rebates is a good idea if everyone who gets this rebates spend will spend the money so the economy will go up. But if most of the people put the money into their bank the government will use a lot of money for nothing.
Personly I like this idea. Free money is what I always want.
this is a good idea cause it helps families with money problems
Sure I'd like the extra cash though I'd probably use it to pay some college related expenses. Would that stimulate the economy? I don't really understand how the process works.
I dont think it is a good idea because not everyone will actually spend the money and if they do it might just end up putting them into more debt
The only way the economy will benefit from the $600 tax rebates is if everyone puts their cut back in circulation. The people that end up putting the money back in their savings will just hinder the economy's recovery. All I know is that I'll probably spend my share.
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