Yesterday, I got a letter from the IRS. Originally, I assumed that it would be a reminder to do my taxes, as I got my first job last summer, or some sort of notice about stricter tax laws. However, to my joyous surprise, it was a letter stating that Congress had just passed George W. Bush’s bill, which gives an “economic stimulus package” to millions of taxpaying Americans. I’m sure that all you other taxpayers out there received a similar letter. To sum it up, taxpayers are eligible for a lump sum from the government, up to $600. For no reason, other than an attempt to stimulate the economy. Don’t get me wrong, I’ll be just fine sitting back and getting a fat check for no real reason, but I can’t help but question if this is really the best choice for the government to make.
I guess that if everyone received an unexpected check for a large lump sum, most Americans would, against their better judgment, go out and spend it. Needless to say, this would give a little bump to the economy. My problem with this idea is that, one, the bump would be quite minor, and two, the bump would be entirely temporary. A much better way for the government to spend that enormous amount of money would be for job creation. People would make more money, while contributing something to society!
i learned that 19% of americans plan to spend the money they are getting in econ. that is not a lot of people. i really hope someone figures out what to do about our economy and soon
~ <3 Breanne <3 ~