January 25, 2008
Tax Rebate- I have a better idea…
Another quick one today, guys. So, this is my comment on the new tax-rebate thing headed through congress. Interesting idea. I get a check (maybe) perhaps sometime in August? Hmm… I have a way better idea. Stop taking my money in the first place!!! Heck, if “you” had stopped taking my money in the first place, I’d have had my cash back before May of last year! Now *that’s* a quick rebate eh? Think that might have stimulated the economy? Not taking my money in the first place, allowing me to get more interest on it over a longer period of time? If I had had that money, I most likely would have spent it.
Every single rebate is 100% made up of money taken from someone who would have spent it earlier. It’s very possible that that money would have had a serious effect on the recent slowing in growth of the economy. Even if the cash had only been placed in an interest bearing account, the standard rate, whatever it is now (let’s say 4%) would have been added to the cash. It would have increased the purchasing power of the institution, the loaning power, etc. More people would have been able to purchase a car, or get a mortgage… every bit of that cash that is now finally being returned (to who Congress decides needs it, not to who actually owns that money) could have been creating growth and wealth and product in our current economy.
Wow, I sure am glad that Congress is so darned smart.