The President wants to give us back $800 per taxpayer in an effort to boost the economy. Congress thinks the money should be given only to those who make less than $150,000 per year.
First off I disagree with it in the first place but if it is done, everyone who pays taxes should receive it. I have to wonder how many people who either don't file or pay taxes or who actually wind up with zero liability after all their earned income, child and other credits will be getting these checks? I say uh-no, why should you get money back if you don't even pay into the system?
Second, man we're in a deficit here. We've got the biggest government expansion in decades, I know for sure in my lifetime. We're financing a lot of programs, our forces in Iraq, aid to other countries, and so many thousands of other things----how in hell can this government afford to give BILLIONS back to the American people? I mean come on, if they really don't need it, then perhaps we need to be revisiting the issue of federal income tax? After all if we've got such a surplus, maybe it's time to seriously consider scrapping the current program and going with the FairTax.
What would DH and I do with ours? Well, we'd either put it in our IRAs or we'd pay down a credit card. Either way, we won't be going out and BUYING anything with it, which is what the government wants us to do. I think one of the best things people could do for themselves and the economy is use it do pay down some of their debt but the government doesn't want that now do they? Just think of all the advertisements for discount items in Wally World and Target once the rebate checks are mailed....