The check’s in the mail…

Thursday, February 7th, 2008

Congress finally got an economic stimulation bill passed today that will supposedly prop up the economy by shelling out cash to tax payers as a tax “rebate”.

Over 130 million households will get tax rebate checks starting this spring progressing through the summer. The Senate tacked on additional rebates to President Bush’s original tax plan, adding 20 million senior citizens and 250,000 disabled veterans to the package.

Treasury Secretary Henry Paulson said the Internal Revenue Service will get to work immediately, but it will take two to four months for the rebate checks to arrive. Of course, they want to process your …

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Posted in Economics, Taxes | 2 Comments »

Faulty logic for economic stimulus

Friday, January 18th, 2008

Today President Bush shed some light on how the government plans to artificially stimulate the economy.

The President said he’s looking for “direct and rapid tax relief” for both consumers and businesses. To achieve this, he plans on implementing an income tax rebate of between $300 and $600 per person, and depending on your circumstances, your rebate may be even bigger.

The white house is looking for a repeat performance from the plan implemented in 2001. It seemed to work back then, however I think the direct effect was a bit over inflated.

But this time it’s different.

We’ve got a different situation this time, with different economic pitfalls pushing the health …

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Posted in Economics, Finance | 5 Comments »