Rebate Schmee-bate

By On January 18, 2008 · 2 Comments

Who wouldn’t like to get a check for $800 in the mail? I know I would.

But will that tax refund money help stimulate the economy like the folks in Washington are hoping?

I doubt it. At least not OUR economy.

The problem is: people are not going to buy houses with $800. And they certainly won’t use it toward the mortgage they can’t afford.

And no one is going to buy a car with $800 to help our the unemployed autoworkers in Michigan.

No- they are going to take that money to Walmart and buy a bunch of Chinese made crap that they don’t need.

Sure- this might help out China and Walmart- one of the only US companies that doesn’t actually need any help- but it isn’t going to help the rest of us.

Evangelize!
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  • http://taxmanblog.blogspot.com/ Gordon

    Yeah, it wouldn’t help any American jobs, like the Walmart store and distribution workers or the truck drivers that delivered the goods or the American package workers that package many of the goods or the American dock workers.

    But outside of that you’re right, it wouldn’t help any Americans.

  • http://aberrantequation.blogspot.com/ Joseph

    My point was: Walmart is already doing well. If anything, poor economic conditions are actually helping them as consumers seek lower prices.

    Walmart was one of very few retailers to actually do well in December- beating estimates with a 2.4 percent rise in December sales.

    The purpose of an economic stimulus package is to stimulate the economy as a whole – especially the parts that are doing poorly right now.

    $800 tax refunds aren’t going to create new jobs or fix the housing market or even increase consumer confidence.

    People will run out and buy a trampoline or a flat screen TV at Walmart – and they’ll say “thanks mr. bush and ms. pelosi- you really are trying to help.”

    And that’s the point of the tax rebate: to look like they are doing something.

    In an election year- everyone wants to look like they are doing something to help YOU (the voters) out.

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