Congress sent a $168 billion economic stimulus package to the President last night for his approval. The package has good intentions and includes something for just about everyone, unless your “rich” (over $75,000 for singles, $150,000 for couples).
If they are really looking to stimulate the economy though, they ought ask the question, “who is more likely to spend an $1,800 rebate check, someone who already has enough money and can afford to treat themselves with something new, or someone who probably should use that money to save or pay off debt?”. This makes me really wonder if this is going to work.
Don’t get me wrong. I’m not complaining. I’m looking forward to that rebate check. I just probably won’t be spending it. And if the government wants to put money in the hands of people who will spend it then they probably shouldn’t leave out the so called “rich” Americans who, by the way, contribute most of the taxes anyway and yet when a rebate is dished out they get nothing.