Assignment 1-4
Rebate Check
As an example of current popular culture, I choose the rebate check which Americans will start receiving in May of 2008. The United States has a failing economy, soaring gas prices, and the housing market in shambles with millions of American’s losing their homes. Is $600 for each adult and $300 for each child rebate really going to fix anything? From talking to people in my every day life, and listening to interviews on the news I have heard no one who agrees with this as a quick fix. The money will go back into the system, as people begin to use it for gas, food, and other necessities. It is meant to reinforce the middle class, and to create jobs and to turn the economy around.
Time will tell, whether the rebate money will boost the economy or not. In forums and blogs, Americans are saying that they will pay bills and save what they can. Many people are angry, and sarcastic when asked what they would do with the rebate money. Americans say that they will use the check for toilet paper, or frame it and put it on display. The American public needs the government to step in and lower gas prices, and then other costs would come down. The rebate checks are a good idea, but to little too late as the saying goes.
In conclusion, when you get your check decide carefully where it will be better spent. Will saving it be in your best interest? Do you need to use it, and get it back into the system? Americans will spend, save, or invest the money however they wish to, and the government has no control over it. However anyone feels about the checks, we will be getting them and we have no choice. So, enjoy the money the way you see fit.
2 comments:
I agree, what is the money going to do other then pay a bill that is past due. I do not think many people are actually going to go to the mall or invest the money and stimulate the economy. I don't plan on giving my money back. LoL I will be spending it to pay off my credit card from the books I purchased for this class. Hopefully that stimulates something. Love the Brady Bunch picture. Good blog.
I would like to comment on this from the tax professional’s view. I work for H & R Block and have seen an increase in the amount of people filing their tax return just so they can get the stimulus payments. The government is working on a fix for the housing crisis. I agree this will not help people in that situation. The money can be used for anything that the taxpayer wants to use it on. I myself will be using my $300 for things I need to buy but have been unable to because of my economic situation. The price of gas really makes it hard for the lower income family to be able to afford things that they would want. The only problem that I see in the stimulus is that if you owe back child support it can be taken for that, which to me does not seem fair. It seems to defeat the purpose of the stimulus. As for next years taxes it is hard to say what will happen about the stimulus. I guess we will just have to wait and see.
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