Today's news reports that the government is considering taking action against a "possible" recession...(WAKE UP BOYS & GIRLS... WE'RE IN ONE NOW!), by creating a tax rebate that would average $500 per tax payer. This rebate would be distributed in the hope that recipients would spend the money thereby improving our economy. Sorry guys, the thought is admirable but will be as effective as removing a gallon of water from the Atlantic in order to prevent future flooding in New Orleans.
How about this... We are spending BILLIONS on a DAILY basis to defend and rebuild Iraq. Putting things into perspective...If the US government borrowed just a few more dollars from China, we could give EVERY PERSON in the US $1,000,000 (equalling approximately $300,000,000. Shifting the rebate to tax payers only would reduce the amount significantly.) and our national debt would barely notice a ripple. On the other hand, this type of real money would not only allow people to pay off their consumer debts, but also to stop the foreclosures on their homes, and still have enough left over to fill their gas tanks a few times.
Let's face it, whether the government gives away $500 per tax payer or $1,000,000 per tax payer, the concept is the same. The difference in results would be staggering and have a real impact on improving spending. Why, it might even encourage some to open a savings account!
Come on Washington... give some of it up for the homeboys.
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