Few troops would spend proposed tax rebate

[unhappycamper]

Few troops would spend proposed tax rebate
By Matt Millham, Stars and Stripes
European edition, Tuesday, January 29, 2008

If other Americans are anything like U.S. troops stationed in Europe, a key part of the economic stimulus package proposed by the president and Congress could fall flat.

Hammered out last week, the package calls for tax rebates for average Americans ranging from $600 for individual taxpayers to $1,200 or more for families, as well as tax breaks for businesses.

The rebate portion of the stimulus “should increase consumer spending and lift our economy at a time when people otherwise might spend less,” President Bush said when he introduced his version of the plan Jan. 18.

The proposed stimulus rebate isn’t a given. The House of Representatives is still hashing out details of the stimulus, and the Senate might have its own ideas. The two bills will have to be reconciled in committee before heading to Bush’s desk for approval.

Most troops who were interviewed said they likely wouldn’t spend their rebate checks the way the president and Congress intended.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=52010

[frogcycle]

1. what a sham

"The rebate portion of the stimulus “should increase consumer spending and lift our economy at a time when people otherwise might spend less,” "

at 600-1200 per household, this is probably no more than 1-2 weeks spending for most. For those where it is more significant, like most troops, it will likely be used to pay overdue bills, not consume more.

we have a 7-year screwup with deregulated financial institutions, hemorrhaging money in Iraq, borrowing from China, etc., etc. creating this mess and THAT is supposed to have an impact?

Start spending money repairing bridges, building schools, building mass transit, and maybe the "stimulus" will stimulate something.

or freaking fix NOLA: NolaPlan