Maybe it's just me, but I feel the idea of a $500 tax rebate is nuts. Don't get me wrong, I'll take my rebate check with a smile, thank you very much. But the idea that it will give the economy much of a boost is ridiculous.
Most people I know will just use it to pay the rent that's a month behind as a result of all their money is going in the gas tank. I suppose the rebate might help somebody keep their home from foreclosure for that much longer. But once the money is gone, the economy is right back where it started.
The people who aren't hurting from the money crunch (are there any of those?) will perhaps tuck the money away for vacation-time. Those who are feeling the squeeze will buy groceries and gas. How long is that little "boost" to the economy going to last? How much difference can it make?
Just my two cents worth.
I'm editing in one of my comments on this entry, as it's very enlightening, at least to me:
Comment from pudge450 |