Sunday, March 9, 2008

Stimulus Payment Notice

Per the Economic Stimulus Act of 2008, I received my notice explaining my stimulus payment yesterday. The government spent a goodly number of millions of dollars let me, any everyone else know that I will receive a payment up to $600 but generally not less than $300 and that if I had at least $3,000 income but paid $0 income tax, I will receive $300. Oh, and if I have kids and they quality, I may receive an additional $300 for each of them. Oh, and if I make more than $75,000, my stimulus payments will be reduced. Oh and did I mention we're borrowing to make these payments, since we don't have the money in the Treasury to fund them?


It would be easier if they just bought everyone an Ipod. Or, you know, spend the money on computers for schools or something that would have the same (or more) impact on the economy.
Most of the analysis I've read says it's a pretty bad idea overall as we're jacking the debt up without really accomplishing the desired outcome. The middle class who will get most of the money will put it into savings rather than spend it.

Extending unemployment benefits (which was part of the plan until it got shot down)or putting more of the money into the hand of lower economic classes, who would probably spend it, rather than middle or upper economic class types, who will save it, is a better application of a poor idea.
But...everyone likes a check in an election year.
But everyone likes a check in an election year.
If they wanted to make sure all that stimulus money got spent, the government should have just given it to me. Seriously, I could be a one-man economy stimulating machine. I'll stimulate that economy with both hands until it's out of breath-- I'm willing to do the dirty work as a patriotic American. This is my notice: I'm reporting for duty!
I'll take a check in a non-election year too. I'm not picky.
This proposal has received a fair amount of scrutiny in the media and I am sure most people will have an opinion on this issue. However I recently heard a fairly accurate description of this recently passed proposal. Simply stated "Our President and the elected members of congress are bribing us with our own money."
Didn't work. I didn't vote for that dope.
Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]