OK, I don't get it. How exactly is $150 billion in tax rebates going to stimulate the economy? That amount is just a drop in the bucket and will have little impact. Even if everyone ran out and spent their money, it'll only be a temporary bump. Sounds like this is nothing more than a election year ploy by both Dems and Reps to get some votes. They both got what they wanted in this deal, though it sounds like the Dems got more. We are going to give tax rebates to people who don't pay taxes and cap the rebates $75K for individuals and $150K for couples. Oh well, what's another $150 billion in debt...
Agree. It's sure not gonna stop a bunch of home owners from getting foreclosed, nor restore confidence in the credit markets. Some will spend it, some will save it or pay off credit cards. But it will jump up the deficit, and help lower the dollar a little bit. Low interest rates will also weigh on the dollar. Not a big deal.
The plan will only help if we buy American with it. Spend it on health care or groceries and it will boost 150 million into the US economy. Spend it at Wal-Mart on chinese goods or at Texaco in gasoline and it will just flow overseas.
I don't know if this will truely help the economy on a lagre level, but I can guarantee it will stimulate my line of business, that really needs help right now.
What line of business is that? Any help you may get from this will stop as soon as the money runs out ... about one weekend for most.
I totally agree. I am in auto sales. This will be just like the boost we get every year at tax time. it only lasts a couple weeks, maybe a month at most, but is always a nice little boost in business.
It is a terrible plan. They want to give us our money back that we paid in taxes but of course they go borrow it from the Chinese thus creating more debt for the country. Bad times should be road out.
Those households making $175k +, and pay a chitpile of taxes get no rebate, while workers who don't pay a dime in income taxes get a rebate/gift. That is such Bullchit!
