As Congress and the White House march forward on an “economic stimulus” package featuring tax rebates, one might wonder: Has this ever worked before? That is, has the government issuing tax rebate checks ever sparked economic growth? The answer is no.
For some much-needed economics and economic history on the issue, check out a January 28 analysis titled “Fiscal Stimulus or Fiscal Folly?” by Stephen Entin, president and executive director of the Institute for Research on the Economics of Taxation. Good stuff.
3 comments:
It is not a tax rebate when people who haven't paid taxes are getting a check.
It is not a tax rebate when not all of the people who have paid tax are getting a check.
It is not a stimulus for our economy when most of the funds will wind up, through Hillary's friends at Walmart, in China.
It is not a stimulus for our economy in that I thought we had gotten past the old Keynesian theory of deficits stimulating the economy. We already have a $200 billion deficit-- how will more debt help?
If we are going to insist on burdening our children and grandchildren with more debt, the least we could do is build or repair some roads, or bridges, or help end our dependency on foreign oil by building more refineries or by slapping solar panels on every flat roof in America-- something that will help the next generation.
Anyone receiving this check should know what it is-- a welfare check drawn on our children's checking account.
This isn't just sour grapes--and on other sites I've received a lashing that anyone earning over $75,000 "doesn't need" a rebate. That's not the point. If the government is doling out a check based on "need"--then guess what? That's welfare. And they should have the guts to call it what it is.
Shame on every politician that supports this wasteful giveaway, and shame on every person who cashes the check.
Thanks for the link that answered a burning question I've had for weeks.
When I heard about the stimulant checks, I thought, "Sweet! Free money."
But then I thought, "Wait a minute... since when does the government just hand out money to so many people for doing absolutely nothing?"
Seems kinda weird to me. I'm keeping the check, though. I'll probably use it to buy as many illegal goods and services as possible.
Anyone who is offended by the Federal tax rebate can give it dutifully back to the government or to a U.S. charity that will be more than happy to receive these funds.
As for me I will be feeding and clothing 2 U.S. citizens...my children. When groceries alone in one week hits nearly 200.00 USD I won't blink an eye when cashing my check.
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