The Fleecing of America
It never surprises me anymore how little the Federal government thinks before acting. Only yesterday, I read that the IRS is going to be sending out letters to some 130 million households to announce the forth-coming rebate checks. The estimated cost of these mailings will be somewhere in the neighborhood of 42 million dollars.
One has to question what sense this makes. With all the technological advancements and media available today, why is this necessary? USA Today reports that there are 2.73 television sets in a typical home. The eCommerce Times states that 60 percent of U.S. homes are online. So, add those to newspapers, radio and word of mouth and it is with great certainty that all or nearly everyone now knows about them.
These are difficult times indeed for many Americans. The economic situation does not appear to be getting better real soon. It is understood that many have their own personal financial struggles that they are wrestling with on a daily basis. History has shown that the economy will probably rebound at some point in the future. In the meantime, we all have to do the best we can to maintain, weather the storm and hope that we will survive in decent shape.
I don’t necessarily agree that a rebate check will stimulate the economy enough to promote growth and put the country back on track. I seems more like applying a Band-Aid for a compound fracture.
In real terms, it emerges as an unnecessary waste of good resources to let America know what is already common knowledge. To me it just reinforces my belief that the elected officials aren’t thinking clearly enough to represent the best interests of their constituents when they act in this manner. All they are doing with this issue is making a poor decision and then patting themselves on the back, saying “Job well done”.
2 comments:
Well of course it won't "stimulate the economy". It was stolen money from the people they're giving it back to AND they are also giving your money to some people who never earned it! What would "stimulate the economy" would be letting Working America KEEP their money in the first place and letting them spend it however they see fit! Then the NON-workers would have to actually go get jobs creating cash flow for their own spending habits. THAT would sure stimulate the economy, huh?!
Good post, JL!
I just don't know enough about macro or micro economics to understand how it all works....but....this seems like a problem to me.
To stimulate the economy....spend that money people, buy new cars, exercise equipment you won't use, buy a house, a horse, or a porshe! Don't have cash? No problem!! We take Visa and Mastercard, not just from adults, but also from college students who have no $$ in the first place!! Just spend it people! Spend it! Or if needed, finance it!
Then....when costs begin to rise (fuel, food, housing, insurance, etc) folks are too stretched to compensate.
Sooo......houses, cars, boats, motorcycles, credit card debt, and whatever else the good economy has been riding on, but that their buyers couldn't afford, gets repossessed.
This just can't be a good thing! Do we, at some point, teach people to be content with "enough" rather than needing to try to aquire all that our pay checks can possible buy?
I have some experience 'cause I filed bankruptcy by the time I was 23 years of age. A person quickly learns how to manage when living under the rule of "if you don't have the moolah, you don't buyah!
Oh well, makes sense to me:)
rwootten
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