Tax Rebates
Originally published in The Daily Journal on 30 August 2001.
Thank you Mr. President, Congress, and the IRS. I am looking forward to next week when I receive my rebate check.
There’s a lot of confusion about the rebate. Without a doubt, the government hopes the rebate checks will spur the economy on a bit. Yes, the economy is sagging right now. We knew it was coming and here it is.
But what should be remembered is that this rebate is money that was taken from you. It is your money!
A government is not supposed to make money. It is not a business. So when the Treasury Department finds more revenue than it needs to pay the bills, it is only right to return it to those who paid too much.
That includes you and me.
Three hundred dollars from millions of people could do much for the economy.
Our children are heading back to school and may need book bags, shoes or supplies.
Labor Day is Monday—lots of hot dogs and burgers could be had with our rebates. Maybe even a quick trip down to the shore.
Oh heck, let’s just head down to the mall and blow this thing. We could have some lunch, buy some CDs and load up at your favorite store.
Others may time their rebate with paying the bills. Perhaps the credit card with the lagging Christmas expenditures is ready to have a hunk taken from its balance.
If the early numbers are an indication, it sounds like most of us are not wildly spending our rebates. Perhaps we are heeding what we know intuitively. Maybe we are investing our rebates.
Many folks do not even have a savings account. Three hundred dollars would be a nice opening balance. Savings accounts provide money for times when you might need emergency money.
Planning for retirement is a worthy effort. Your rebate could open an IRA account that will set you on your way to retirement.
Investing in your home or car may be the sound thing to do presently. New storm windows may save you enough in your heating bills this winter to make this the way to go. A tune-up for the automobile may also reduce the wear and tear you experience.
Look into opening a dividend reinvestment plan (DRIP). This type of account allows you to regularly contribute to purchasing stock directly from the company. This cuts out the middlemen and thus saves commissions.
As for me, Mr. President, I thank you for returning my money. I appreciate a government that recognizes it cannot just take as much money as it wishes. I look forward to your budgets that will severely cut needless federal spending so I may keep even more of my money.
Also blogged on this date . . .
- Cream of Curried Peanut Soup - 2007
- Preparing - 2006
- Strategic Petroleum Reserve - 2005
- Sheehan Has No Credibility - 2005
- 10,000, 20,000, 30,000 miles or more - 2005
- BIG OLD DEAD CACHE - 2003
- Solar Circus - 1992
Tags: tax