Tax rebates urged to rescue economy (at least $300 a person — and maybe as much as $800)

AP on Yahoo ^ | 1/17/08 | Jeannine Aversa and Andrew Taylor - ap

[TheLion]

"What if they cut gasoline taxes by 50%?"

Hey why not, it's funny money anyway. They could subsidize the fuel price.

On a serious note, I have suggested a few times around here that the Fed ought to create a seperate federal funds rate for home loans. Take it low for awhile to help people keep their homes.

[eyedigress]

Now that there’s a thinkin’ man!

[keepitreal]

So they give me $300 of my money this year and take $1000 next year.

[nhoward14]

The rebates would likely be limited to individuals with incomes of $85,000 or less

I guess I won't be getting a new muffler this time, unless some FReeperette would like to join me in a retroactive marriage of convenience that would be annulled once the check clears.

[steve86]

Didn't you see the story yesterday where it was recommended they raise gas taxes by about that same amount? There's no way anyway is going to truly come out net net ahead on this crazy stuff, but you will be told that you are.

[Lancey Howard]

including tax rebates of at least $300 a person — and maybe as much as $800

Please tell me that's per "taxpayer", not per "person"....

[robomatik]

"Some deficit-hawk Democrats ..."
quote of the day in my book (thanks to the a.p.)

[endthematrix]

Why give dollars? Just a house, job and of course FREE HEALTHCARE!

(And if we’re good Party members, we may even get those NASCAR tix)

[weegee]

“and higher unemployment benefits.”

I thought unemployment was very low. So low that we need millions of undocumented workers who’ll work for below minimum wage to find enough people to take the jobs (and there are millions who are willing to travel to work for below minimum wage with no benefits).

[Tarpon]

The problem is high fuel prices and global freezing. Need more energy, soon.

[Kickass Conservative]

What about those lucky folks that paid nothing and get YOUR money back.
Kind of like hitting the lottery even though you didn’t buy a ticket. Actually, you bought the ticket, but the winnings go to someone who didn’t.
How in the hell did we get so out of whack in this country anyway?

[Graybeard58]

Just as long as they give a “rebate” to someone who never paid “in” in the first place. That is just galling.

Yep, the very gallingest.

I have a special dislike (That's not a strong enough word) for the Earned Income Credit. Proposed by Nixon, signed into law by Ford and increased under every administration since, with no exceptions.

Even a hint at slowing down this socialism monster is met by screams from liberals about hurting the "poor".

[Lijahsbubbe]

This isn’t a tax rebate. They’re giving away cash to people with the hope that they’ll promptly run down to their local Wally World and blow it on a new Chinese-made DVD player. Gotta keep the Merry-go-Round rollin’.

It's so painfully obvious and sadly funny.

Federal Reserve Chairman Ben Bernanke endorsed the idea of putting money into the hands of those who would spend it quickly

Krikey. Isn't that part of what got us into trouble in the first place? What a joke. This country has gone to crap and we are in deep, deep trouble.

[Kickass Conservative]

Well, Castro did buy everybody in Cuba a Chinese rice cooker. Nice to know that our Gubmint follows the successful Cuban economic model.

[Graybeard58]

Maybe they can just give everyone a hundred, million, billion dollars. That way, nobody will every be poor again.

Damn! That's close to a gazillion.

[Lijahsbubbe]

SOCIALISM

NO DOUBT in my mind that we are now there. And people will actually get excited that big daddy is going to give them a taste of their own money. What the hell.....

[rabscuttle385]

"Putting money into the hands of households and firms that would spend it in the near term" is a priority, he said.

In the case of households, are they really going to spend it or are they just going to use the refunds to pay credit cards down?

[Ethrane]

The rebates would likely be limited to individuals with incomes of $85,000 or less and couples with incomes of $110,000 or less, the aide said, speaking on condition of anonymity because no final decisions had been made.

Unbelievable.

More of MY money given to people that did not earn it.

Great.

[rabscuttle385]

I forgot to mention this...remember when the Congress critters proposed $100.00 in gasoline rebates (link). While the idea of a tax refund is quite nice, it's also insulting and signals that the Federals have far too much taxpayer money to begin with.

[Kickass Conservative]

So it doesn’t matter that it was stolen from the haves to give to the have nots? Kind of fits Obama’s pizza story to the five year old.
Robin Hood Democrats and their band of Merry Republicans.