Economic Stimulus: How Do You Plan to Spend Your Tax Rebate?
Government Plans to Give Tax Rebates to Millions of Americans
The bigwigs in Washington have decided they want to get the economy moving, and we're going to help.
How? They're planning to give us tax rebates.
Republicans, Democrats and the Bush Administration have just announced, they've agreed on an economic stimulus plan that gives tax rebates to 117 million families. Under this plan, people who make less than $75,000 a year will be eligible to get a tax rebate between $300 and $600 dollars, plus a child tax credit of $300.
According to the announcement, the checks should start coming in May.
After that, to make this economic stimulus plan work, we are supposed to spend the tax rebate money, not save it.
The goal is to get the economy going, by getting people to shop.
House Speaker Nancy Pelosi's announcement says the economic stimulus plan will "quickly give our economy a shot in the arm."
President Bush proposed a similar economic stimulus plan a few days earlier, and says the current version "will boost our economy and encourage job creation."
The economic stimulus plan hasn't been completely passed yet; but I'm ready to spend. Far be it from me to buck the government on such a simple request.
But how should I contribute to economic stimulus?
Lets see, I could pay down my credit card bill from my trip to the dentist that wasn't covered and my $1100 heating oil bill. And, I could use it to fill my gas tank a few times.
But if I really want to help with economic stimulus, I should spend my tax rebate on something exciting -- like a kayak.
I guess my role in economic stimulus depends on whether I'll be getting closer to the $300 or the $600 announced. Maybe I could spend some of my tax rebate on boring stuff (bills) and some on fun stuff (a massage!).
Or new shoes.
After all, it's our patriotic duty to help with economic stimulus.
Red, white and blue shoes!
I should probably stop thinking about all the stuff (MP3 player) I could buy in the name of economic stimulus. If I don't, I'll go nuts watching the mail every day.
The best thing to do is put economic stimulus (and a new outfit) out of my mind. Then, it will be a nice surprise when the tax rebate check comes...just in time to buy a surfboard for the summer.
How do you plan to spend your tax rebate? (Leave a note!)
Published by H.Rox
I am a freelance writer/reporter based in New York and am here to try some online writing on various topics including: personal finance, the economy, news and Long Island events. Enjoy. View profile
- My Economic Stimulus PlanDo we really want to get the economy rolling again? Here is a sure fire plan that`s guaranteed to work or your money back!
Comparing the 2008 Tax Rebate to the 2001 Tax RebateIt seems our government thinks that the American populace will spend the money from the tax rebate checks the same way they did the last time there was a rebate in 2001. If so,...
Ideas on How to Spend Your Tax RebateSome options on how to spend that tax rebate that make more sense than running out and buying something.- Tax Rebate Checks Are a Short-Term Solution to a Long-Term ProblemTax rebate checks are not really helping the American economy.
- Where is My 2008 Tax Rebate Check?To set the record straight, here are the most important facts to know about your 2008 tax rebate check.
- Get Green, Go Green: Environmental Purchases to Consider with President Obama's Ec...
- Tax Rebate Checks Not Worth the Cost
- 2008 Economic Stimulus Package Tax Rebate
- How to Make Money Off the Tax Rebate
- A Closer Look at the Economic Stimulus Plan
- Be a Good Citizen: Read Obama's Economic Stimulus Plan
- We the People, Need a Real Economic Stimulus Plan
15 Comments
Post a CommentSaved it for a rainy day.
Let it be said that this is already far too late to be this small amount. It may have done more had it been earlier, but by this point most Americans are behind and don't have a choice what to use the money for; food and shelter.
Americans don't seem to see what the problem is here. Ignorance and greed, chiefly, especially in regards to wasteful spending. I.E. red, white and blue shoes.
Pay down your oil bill, it's not a simple choice.
The fact that people are even encouraged to just blow the money and the small amount (that's right, it's tiny; if just the money from the banks was given to the American people it would have been exponentially more) makes me assume this will work about as well as the last stimulus check.
My little $600.00 check helped me cover a month's rent. It was nice, but not exactly the type of thing to add long term stimulus to the economy.
This plan is looking like a repeat.
Throwing a small amount of over-taxed American's own money back at them is not the solution to this complex problem. If it was more like $2,000 to each family it might actually do something.
And before you say "omg, they can't give everyone that much!!! where will the money come from!!?!?" pro
so is no 2 stimulus. check on the way are what a lie from the goverment again are what .
Hoard? I got a built-in de-hoardificator.
I'm with you T.H. I don't think there is much danger of Americans hoarding this money when there are bills to pay.
Tony..."new bullet resistant vest... I like the flexible kevlar ones enmeshed with breathable material.".... EXCELLENT investment-I'd love my own stun gun
I agree with jcorn. So what? A great read!
Actually, it isn't a LOAN. That was incorrect for me to note that. It is a freebie but it won't go all that far for many.
Your article is absolutely correct. A one-time refund is called "debt repayment" to many Americans. Maybe some will use it on an impulse purchase but I'm betting more will put it toward necessary expenses or pay off debt or college loans. It will be a drop in the bucket to most. One-time loans don't solve long-term economic issues.