2.05.2008

Tax Rebates?


I'm really getting sick of the bipartisan offer of "tax rebates" to stimulate the economy. First of all, with the Fed printing money like mad and lowering discount rates to bail out banks, is it wise to start handing out free cash? Of course, Republicans will point out that it is not free cash, it's a tax rebate. Well, it may have been, until the Democrats got involved.
Now, the Democrats want to include retirees, unemployed veterans and the poor. Last I checked, none of these groups pay taxes in the first place. How the fuck exactly is that a rebate?
Don't get me wrong, I have nothing against the old and the poor. It's just that, by targeting these groups, we are simply handing out free money. That, plus the fact that the old will probably save and not spend the cash, and the poor will probably spend the money on food, illegal drugs and alcohol. Hardly a stimulus to the economy.
I like Mike Huckabee's idea to use the money to build infrastructure such as roads, bridges and tunnels. Sure, it will not be a quick stimulus, but it would be money better spent and maybe we can actually get some of these roads under construction finished instead of using the existing dollars to keep a finite amount of highway workers employed forever fixing each road at such a painstaking rate. This idea would open up tons of new jobs for the unemployed poor.
I'm sick of the government trying to bail everyone out, from stupid rich banks holding huge positions of subprime debt, idiotic greedy homebuilders who built way too many overpriced homes regardless of future slowing demand, the retarded middle class buying 300K+ homes that they couldn't afford and others in society that make little to no effort to pull themselves up out of poverty.
God forbid you are a responsible citizen who has exerted fiscal responsibility in your life. You get taxed to death and are forced to carry the burden of the rest of the country's retards.
Of course the whole thing has become politicized for election gains. That makes the idea of tax rebates right now even a worse idea. They are simply a feelgood gesture and will not prevent a recession, even if done correctly.

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