SubscribeNo one knows more about economics than a politician
I know that my main goal is to keep this blog family-centric but to avoid talking Kyle’s ear off with my righteous republican indignation, I will blog instead.
Apparently, our government has now signed off on their economic stimulus plan.
This plan will include income tax rebates of anywhere from $300-1200 per household, down from Bush’s original plan of $800-1600. You may ask yourself, what changed? Why did the number come down so significantly. Key democrats such as Nancy Pelosi insisted upon certain changes. It would not be fair to give a rebate to just the middle class. Apparently, we should also include the lower-income brackets that do not even qualify to pay income taxes. So let me get this straight, you don’t pay income taxes but you qualify for a rebate.
re·bate 1
n.
A deduction from an amount to be paid or a return of part of an amount given in payment.
tr.v. (r
b
t
, r
-bt) re·bat·ed, re·bat·ing, re·bates
A deduction from an amount to be paid or a return of part of an amount given in payment.
tr.v. (rbt, r-bt) re·bat·ed, re·bat·ing, re·bates
1. To deduct or return (an amount) from a payment or bill.Hypothetically speaking, a person who earns $3000 last year and has 4 kids, will get a base rebate of $300 or 600 if married plus $1200 dollars for the kids as a rebate on taxes that they didn’t pay so they will essentially get a 50% bonus on their earned pay. Not to mention the fact that many households that don’t qualify to pay income taxes, also take advantage of many of the government programs supported largely by the middle class. Sigh. ::End Rant::
I guess I will just wait for my check. According to CNN.com, Kyle and I should recieve a check for $1200. I wonder if they will count Claire or if they look at 2007 when doing your kid count.
Socialism at its finest. Not that I won’t appreciate a check that I can drop into savings, but this is nothing more than a redistribution of wealth and it’s just SO WRONG.