So the good ole US of A was heading towards a recession. It happens every so many years. Especially after the greatest idea in history actually happened. You know, back when our government decided it was ok to shut down all the factories and send them off to other countries because it's cheaper.
I don't want to sound ungrateful. I mean, now there's enough bums around asking for change that every penny ever dropped and discarded has probably been found by now. Which is a huge success since just a few years ago they were trying to figure out a way to get rid of the penny. The Penny has returned!!
Part of me is glad the Tax Rebate is actually happening. I could use the extra coin. Although I don't think it's going to help anything. Well, it will help to make the deficit larger. And when you produce more money and give it away it usually makes the dollar worth less. So now it might take 3 US dollars to exchange for 1 Euro.
I remember a time when 1 US dollar went a lot farther everywhere besides here.
I'm glad to see that the changes in the bill were set in stone though. That Senior Citizens will now get a rebate as well. Even though they still had to make at least $3,000 in 2007 to get $300 back. They should. If it wasn't for them we wouldn't be sitting as pretty as we are now. Hats off to all the Seniors that made that possible. They're hard work has allowed us to not work so hard.
The extra coin in everyone's pocket will help with bills. Obviously everyone will use it for what ever they choose and more than likely it will go to vacations, new toys, and nights out on the town. I don't foresee the average blue collar person using that money to put into stocks and bonds and such things that will actually help to create stimulus and job opportunities.
I hate to say it but I think those generations of people are gone.
So many people today are worried about their $200 to $300 a month natural gas bills and the ever raising fuel prices to care about stocks. And let's face it, a $600 rebate isn't enough for people to create long term businesses and job opportunities. All it's become is a bumper. Instead of a recession now we've created a small window of time before it hits again. In my opinion, that window of time gets smaller every time more money is given away.
The approval of the economic plan happened very quickly, in just 2 weeks. Which some would say is a great sign that our delegates have finally found something they all care about. America. But I wonder how many were thinking, "Shit, if I don't approve this I won't get elected for the next term." If a delegate was to vote no for this, like some did, it would be great material to use for a mud slinging campaign. "Don't vote for ______. They opposed the Tax Rebate, denying you your money."
Other changes in the bill that I approve of. (Like my personal approval matters anyways...) They made it so Illegal Aliens and non-residents do not get any type of a rebate. They shouldn't if they're not paying into the system. Which also goes for a couple people I know that don't even do their taxes. Fuck 'em. If you don't want to pay in then don't be upset when you don't get a pay out.
So here's how it pans out.
"The legislation would deliver rebates -- $600 for individuals, $1,200 for couples -- to most taxpayers, plus an additional $300 per child. Individuals making up to $75,000 a year and couples earning up to $150,000 would get the full rebate, with those making more than that or too little to owe taxes getting smaller checks." - Chicago Tribune 2/8/08
So now, what are you going to use your money for? A new bike, a PS3, stocks, retirement funds, a night out, student loans, bills? Or maybe you'll figure out some miraculous way to use your $600 to create a business that will constantly create new job opportunities and thus making the recession disappear.
I have a great idea for the disappearance of the deficit, creation of thousands of jobs, and how to turn around the recession.
Legalize marijuana, sell it in a 10 joint pack and charge $15 per pack. Let it be a government ran organization and all profit, above and beyond business expenses, goes to the deficit.
Imagine all the free time the legal system would have, all the people that would be happy, and the power of the US dollar after the deficit disappears.
But then relations with drug cartels would fall apart and that is entirely a different subject all together.
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