"Or Not!"

I don't want to sound ungrateful, but big deal. Am I the only one that thinks this so called "economic stimulus plan" is a frickin joke?

How is paying my rent for one month going to stimulate the economy? I think that most of middle class America will use the money to help pay down their outrageous credit card debt or maybe they will be able to afford to take the family out for dinner a few times.

The biggest stimulus to the economy will be a temporary boost in liquor sales and some of the local drug dealers may see a slight upturn in profits. There will be all kinds of stimulating going on after those checks are cashed but not of the economic type.

I usually don't get too involved in political issues and certainly not enough to take the time to write this, but I am really ticked off about this. Did you know that the government spent over 4 million dollars just to send out the letters that informed everyone that they might be eligible to receive a tax rebate check.

The truth be known, I think that it was a ploy to get more people to actually file their tax returns. There has to be more to it than what they say because you can't make me believe that our government is so stupid that they actually believe that these checks are going to have any kind of substantial impact on the economy.

I would bet a years wages that 99% of the economic stimulus checks will be spent within a few days of being received and will go towards the payment of bills or past debt. There may be some additional sales at restaurants and maybe some women's shoe stores, but any stimulation of the economy will be slight and short lived.

I still don't understand why Bush is doing this. His popularity is already down the tubes and he is about to be out of office anyway. It doesn't make sense that he would try to win favor now by buying some popularity with these tax rebate checks. If anything, I think it makes him look stupid that he is trying to put a band-aid on a bleeding artery.

The dollar has lost over 20% of it's value in the last couple of years and we continue to pour money into Vietnam...oops, I mean Iraq. Where is this money coming from? Are we printing it and further de-valuing the dollar? Maybe we are selling more T-bills to China and Saudi Arabia. Did you know that those T-bills are fully collateralized with American property?

Actually, I read that we borrowed the money from China. Is that true? Talk about stupid. Were trillions of dollars in debt and we are going to borrow money to use for something that is going to have no significant impact on the economy at all.

Maybe they are going to be like the rebate checks we got a few years back and we will have to repay them next year. Do you remember that? They were for around $300 and we had to pay them back when you filed the next year's return. They are calling them tax rebates.

Kind of scary when you think about it. One thing is for sure, you will have to claim it as income and pay taxes on it next year.

"A Little FAQ"

Even though I just trashed the whole concept of the economic stimulus checks, it doesn't mean that I don't appreciate any help, especially in the form of money, that I can get. Times are tough and I have a wife and 3 kids to support. Constantly rising gas and grocery prices are starting to kill me so the check is going to help, even if it's only for a little bit.

For those of you who are anxiously awaiting the arrival of your tax rebate check or maybe have some questions as to whether you will get one, here is some useful info:

• You must file a tax return to be eligible for a check.
• If you owe money this year or from previous years, the money will be deducted from your check.
• The checks are being issued as of May 2nd and are being distributed in order by social security numbers.
• A single person can get up to $600
• A married couple can get up to $1200
• You can get $300 per child or dependent
• You must have a social security number to be eligible
• Singles with an adjusted gross of less than $75,000 will receive the full $600 and those that make more than $75,000 will get a pro rated amount or nothing at all depending on your adjusted gross.
• Couples with an adjusted gross of less than $150,000 will receive the full $1200 and those that make more than $150,000 will get a pro rated amount or nothing at all depending on your adjusted gross.

I think that pretty much covers the basics. I did not write this to do any Bush bashing or anything like that. I just find it hard to believe that the people who run our country are so out of touch with the real condition of this nation to think that these rebate checks are going to make any significant impact towards fixing the economy.

Can they not see that the deficit and the value of the dollar are the 2 biggest problems effecting the economy. If you want a quick lesson in economics, I recommend Alan Greenspan's book "The Age Of Turbulence". I just recently finished reading it and although the subject matter is a little dry, I found it to be very interesting and informative.

I hope I don't sound like I am whinning. If you think that I am, then listen to the guy in the video below.