You can understand the man’s alarm. As though his legacy were not tarnished enough already, there’s a real chance that if things don’t get better quickly he will be remembered for a presidency that botched a war and nearly lost an American city to a hurricane, neatly sandwiched between two slumps. It will make Herbert Hoover look like George Washington.
He wants the Internal Revenue Service to mail out rebate cheques to all taxpayers, perhaps as much as $800 for single taxpayers ($1,600 for families). If Congress can get its act together, that would be in people’s pockets some time over the summer, perhaps just as the slump is really starting to hurt.
The Democrats aren't so sure his plan would benefit the ones that the current economy is hurting the most and want the rebates
only to be targeted for those making under $85,000 per year. There's also a question about those who pay no taxes so would gain nothing from a rebate.
For now, who knows where this will end up, but I'm all for getting some of what we've been faithfully, if not happily, paying in in taxes.
Personally, I'd spend the hell out of $1600 of unexpected income. I'd keep saving the money that I have put back for the sofa that I'm still searching for, and get down right serious about finding one to buy. There probably wouldn't be even a yankee dime left unless I happened to find a VERY good sale going on, but I'd be sitting high on the hog (or sofa).
Of course, those plans could be dashed if these danged gas prices keep going up, and up. And food,,,might take the whole $1,600 to buy groceries for the month by the time they get around to cutting a check.
I was so excited last month that the payment for James's new truck was going to be a whole $50 dollars less, and a whole year less, than the old truck, and then I noticed that the monthly draft for his health insurance went up by that same amount. Sure popped the hell outta my balloon.
Anyway, Send it on George W., it'll be nice to have a little prize to put in our pockets instead of yours for a change.
