Archive for the ‘Stimulus package flaw’ Category

My Camera Editorial Advisory Board comment published on April 26, 2008, in response to the Camera’s question: On Friday, the first round of economic stimulus checks will be mailed out to qualifying taxpayers. The tax-free checks will range from $300 to $600 for individuals to $1,200 for couples, plus an additional $300 per child. What do you think of the economic stimulus program, and what do you think Americans should do with their windfall?

I applaud the government’s efforts to ward off or lessen a recession with the stimulus package. Putting money in the hands of working Americans who are most likely to spend it feels good. But, reality has a way of taking away some of that good feeling. Those who receive a check may lower their credit card balances or feel less of the squeeze from high gas prices. However, actual spending that will help get the economy moving likely won’t happen.

As I think about what Americans should do with their stimulus checks, I’m reminded of the reality that you never get anything for nothing.

I wouldn’t be surprised if we need to calculate any tax rebate into our 2008 taxes. I also wonder about the value of the government’s message. Basically, it is to “spend and don’t save” instead of “spend less than you earn and save something for the future.” Americans should do the latter with their stimulus checks. And, unless, the government as well as the American people do that, our country’s economy will continue to be on shaky grounds.

Source: Daily Camera

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