Monday, May 12, 2008

Free Money from the IRS? Really?

So...upon checking my balance last Friday, I noticed a credit from the US Treasury. Now this is not your usual tax returns, but rather a bonus called the Economic Stimulus 2008 Fund. Available up to $600, depending of various factors. Now, we all love extra money, but will this plan actually boost this downward-spiraling economy? Only time will tell. But from a logical point, it doesn't look like its working the way they planned. If you have any outstanding debt, you'll use it to reduce that amount. That doesn't help because its already an existing expense. Anyone who can afford to shop don't need such aid. If you stash it into your savings account, it goes nowhere and does nothing for the economy. According to the statement they sent out, your $600 won't be taxed, nor is it an advance from next year's tax returns. So...how is this helping to stimulate the economy and make people spend money? What will you do with that money? Is the current political climate and foreign relations playing a much bigger role?

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