A Closer Look at the Economic Stimulus Plan

For weeks now, all we have heard is the great things about the economic stimulus plan on the table. I find it surprising that the media hasn't done a better job of dissecting this plan approved by lawmakers that are supposed to be working for Americans.

So I decided that I will not spend the money that I receive from them in a few months. That's what they want us to do and I'm not going to do it. After all, they are the same ones who wanted everyone to buy houses and sign up for adjustable rate mortgages. They are the same ones who created the mess that we are in now. So they think that we, the people, are going to continue to listen to their banter and do as they say. So be it, there will many that do probably out of necessity but in todays economy $600 isn't going to go far. Our lawmakers needed to extend unemployment which would put weekly money into pockets and help people eat each week. Did they ask to be laid off? I doubt it. How about those paying so much for fuel to heat their homes this winter? Is it their fault that they live in a climate that requires heat? Is it their fault that Exxon Mobil, Chevron, etc. made record profits again.

So why won't I spend the tax rebate we are going to receive? Because it is NOT a rebate. It is an ADVANCE on our 2008 income tax return. So be assured that anyone out there who depends on getting an income tax return in 2008 will be $600 or more short. They are only giving you an advance on your own money.

So what am I going to do with the check? Well, I'm going to cash it and bury it in the backyard. By no means will I deposit it into the bank. They are the ones that pushed for these exotic mortgages in the hopes of bringing back the business through refinances. They talked people into qualifying for adjustable rates knowing all the time that some of these same people couldn't qualify for a fixed rate. And who is suffering through all of their mistakes. All of the people losing their homes, that are laid off in this industry and continue to get laid off.

And I'm not going to spend it either. After all, too many companies are sending American jobs overseas. And they are importing too many items from overseas. If I was to spend this money, it will probably go to pay wages in China, not America.

So I decided that I am going to hold on to my cash until 2008 when I am supposed to get it so that I won't be shocked when I don't receive what I was expecting from income tax next year. After all, the way things look now, our economy won't be any better next year. And come election time, I will definitely remember this.