TAX Rebates - Will Someone Tell Me How They are Going to Stimulate the Economy?

TAX Rebates - Will Someone Tell Me How They are Going to Stimulate the Economy?  I know this is election year, so my expectations for true innovation, hope and trust in the government have been turned off by my previous dissappointments.  We have been all told the checks are in the mail, and not to worry!  For those of us in real estate initially we thought it would boost our sales a little, but I don't think it will.  The rebates aren't even good enough for a down payment.  For those in retail, they were hoping that folks would run out and squander it on big screen TVs made overseas..., it probably won't.  For those that live everyday, it is a small stipend that really does not amount to much more than providing you the funds to commute to work and pay the some of your gasoline bill for a month.  The price of gasoline was never anticipated to rise this high, this quickly.  I am listening to folks complaining of topping off their gas tanks to the tune of $50, and a fill up is more excruciating than ever!  The price of filling a normal tank these days is almost $80.  Let's times that by 4.5 fill-ups in a month...that equals $360.  Do you own more than one vehicle?  I do, and even when I switch off to the more economical of vehicles it is still painful to fill up a tank.  So exactly what was this money supposed to do?  What is it going to lubricate in the economy? Is it going to enrich big oil?  Purchase products made overseas?  And stimulate the economy how?  It is your tax dollar, you tell me!

 
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32 Comments on TAX Rebates - Will Someone Tell Me How They are Going to Stimulate the Economy?

Well, gas prices hit us very hard, and there are 2 of us as realtors.  We have an F150 and a Jeep Laredo Grand Cherokee.  We live in the mountains, so what are we supposed to do with these cars?  They are both gas guzzlers and we are spending between $200 & $300 per week on gas!  As you know, we all live in our cars.  The rebate is not going to do anything for the economy because there is not enough coming back to us for that.  I may buy a new front door that would be more efficient than the one I have, or I may just pay a bill, like most other folks!

05/16/2008 09:59 PM by Ernie & Barb Suto (Century 21 Preferred Realty)


Since the government is giving away MY TAX DOLLARS & since I am a successful agent and make too much money, I will receive NOTHING back in this great stimulus package, my only idea on how this government giveaway of MY MONEY is going to help is if the recipients use MY MONEY to BUY A HOUSE!!
http://thecenturytreereader.com/2008/05/13/did-you-get-your-rebate-check-help-the-local-economy-buy-a-house/

Guess my comments weren't too politically correct....

05/16/2008 10:00 PM by Susan Hilton College Station,Texas Real Estate (CENTURY 21 Beal, Inc.)


It's not going to stimulate anything.  The rebates are election-year candy being handed out to gullible children.  It will (momentarily) soften the blow of rising gasoline prices, at least for as long as it takes for the public to get used to them.

The rebate isn't even enough to pay the closing costs on a minimal mortgage.  It would have to have been ten times as large an amount in order to have any significant impact on the economy.

05/16/2008 10:01 PM by Wayzata Lakes Realty: Eric Kodner Sells Luxury Homes


Nothing significant will happen.  The people getting the rebate checks are the people who don't pay any taxes.  Most of the people that pay the taxes are over the 150K limit to get a rebate at all.  It is absurd to even call it a rebate since it isn't based on whether the recipient paid any taxes or not.

05/16/2008 10:06 PM by Rob Arnold, Florida Realtor / Investor (Sand Dollar Realty Group, Inc.)


It's a typical band-aid "solution" to a much bigger problem by our out of touch politicians.

05/16/2008 10:10 PM by Jim Albano (Prudential Damiano Realty)


Ernie & Barb Suto (Century 21 Preferred Realty)  I can believe 200-300 dollars a week.  That is pain!  The rebates really cannot cover much of anything, so again, I would love to ask why are they giving out my and your tax money?

05/16/2008 10:12 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


It's certainly become a Robin Hood government.  And who ever said we weren't socialists!?

05/16/2008 10:13 PM by Ron Tarvin's Katy Agent Team-- Katy Texas Real Estate (Keller Williams Realty Katy@Cinco Ranch)


Susan Hilton College Station,Texas Real Estate (CENTURY 21 Beal, Inc.)  They are correct.  We will not be receiving it either.  Even though we generate loads of income for ourselves, other agents and brokerages...we get nada.

05/16/2008 10:15 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Jim Albano (Prudential Damiano Realty)  I love your line "out of touch politicians!"  Or are they trying to really buy votes with your tax dollars?  Keep in mind both democratic candidates are planning to raise taxes.  So they give out a few dollars and take back 15% more of your earnings.  Democrats believe for sure this time they will win the presidency.  It is something we need to think about.  What they consider high income earners is anything over 31K a year.

05/16/2008 10:23 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Ron Tarvin's Katy Agent Team-- Katy Texas Real Estate Agents (Keller Williams Realty Katy@Cinco Ranch)   Oh this is a real socialist move.  A redistribution of wealth!  This pittance  is not going to stop the poor folks from rioting in the streets this summer from rising gas prices, unemployment, inflation, rising food costs etc...  but hey its election year!

05/16/2008 10:26 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Hey Jim - I agree with you. I don't agree with these schemes of "tax rebates" that are handed out like candy at Halloween. It's done here in NJ every year and it's total BS. Don't take my hard earned money and then "reward" me later in the year with a rebate. Just don't take it in the first place. And how do all these folks who don't pay taxes (or very little) qualify for a "tax rebate". It drives me nuts. Believe me, I know the dems will be raising taxes. They love these little schemes to make themselves look good. Then they'll turn around and take twice that amount out of our pockets. I agree with the Bush tax cuts...should have been more of a cut. Sorry for ranting.

05/16/2008 10:35 PM by Jim Albano (Prudential Damiano Realty)


Is $143 Billion in bailouts to banks and Bear Stearns socialism?

Jim Albano, the rebate you're complaining about took place under a Republican president, with enough Republican votes in Congress to override a veto, in an administration that has run up a record deficit (topping that of any president in history) over the past eight years.

 

05/16/2008 10:44 PM by Wayzata Lakes Realty: Eric Kodner Sells Luxury Homes


The $600  Dollar Tax Rebate is a JOKE, I have spent more than that on business cards in the last year. That is 6 fill ups for our cars. It is a slap in the face and I wish GWB would just go ahead and send it to a foreign land with a whole bunch of oil.

05/16/2008 11:00 PM by Greg Hampton North Georgia Mountain Property,Blue Rid (Re/Max Around The Mountains)


Jim Albano (Prudential Damiano Realty)  No rant on your part I totally agree.  The will give out a few hundred of dollars to those that do not earn, adn increase the tax back on those that drove the economy wiht the Bush tax cuts.

05/16/2008 11:02 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


Wayzata Lakes Realty: Eric Kodner Sells Luxury Homes  Well it is not capitalism.  Bush is a Republican in name only and so are most of the elected Republicans.  Capitalism would have allowed the chips to fall where they may.

05/16/2008 11:04 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


It is a joke...A very bad joke courtesy of our Government.  People that do get receive some money will be playing catch up on delinquent bills - oh BTW did you not hear that the IRS did not send 15,000 people the additional $300 for children and then they deposited money in the wrong accounts for over 1 week and now have to spend tax $$$ to fix the mess!  Seen it on CNN this morning.  Figures!

05/16/2008 11:42 PM by Crossville Tennessee REALTOR - Your Source to Real Estate - Pam Bridges (Good Ole' Rocky Top Realty)


My personal favorite was the post card that I received saying that I am getting the stimulus check in the mail.  Then the letter saying it would be here on this date, which the letter came after that date and check is still not here.  Look at all that wasted mail and money.

It will stimulate right into my savings account and sit there.  I have heard that they are considering doing it again if this doesn't work.  Sure send me some more of my money back. 

 

05/17/2008 06:26 AM by Karen Gentry>>Charlottesville, Virginia Real Estate Professional (RE/MAX Excellence-Charlottesville VA)


Tax Rebates are political Snake Oil Jim...  Just designed to give the "party" a change to toot it's own horn when the other party takes jabs at them...

05/17/2008 08:09 AM by Steve Homer (The HBH Group (Keller Williams affiliate))


Steve Homer (The HBH Group (Keller Williams affiliate))  The way out government is designed that cannot happen.  We have a Democratic Congress and a Republican controlled Executive Branch.  They are both complicit in this action the same way we had NAFTA.  Back then we had a Democratic President and a Republican Congress.  They are both equally guilty.  Someone once told me that anytime you see opposing parties shaking hands, watch out.  We're going to be screwed.

05/17/2008 09:46 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


The tax rebate is ridiculous.  Look how much money was spent just sending out the notices that it would be coming.  It is a bad joke in my opinion. 

05/17/2008 04:16 PM by Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage)


Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage) It is our tax money...except those that provided the taxes for the distribution of it are not eentitled to receive it.

05/17/2008 04:26 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


It will not stimulate the economy - it's not enough to do so.  Hey, we are using our rebate for vacation in 2 weeks!

05/17/2008 04:43 PM by LaNita Cates (REMAX of Joliet)


LaNita Cates (REMAX of Joliet)  It would be interesting to see if the rebate would even cover the gas for a road trip.

05/17/2008 05:51 PM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


If I receive a check I will give it to Clark Howard if he will run for President! That is the best use of it I could think of.

I have complained to my representatives about this nonsense... have you????

05/17/2008 09:31 PM by Phil


 Hi Jim,

Well a lot of people sure used your post to vent their disgust, mainly at gas prices. Of course I too agree, no stimulus will take place. While I'm tempted to go buy that new TV, the money will no doubt wind up divided between three gas tanks. I do wish I had Susan's problem though!

05/18/2008 08:17 AM by Richard Schardt - Triad NC Real Estate (Keller Williams Realty)


Richard Schardt (Keller Williams Realty  Iam in the same boat as Susan wiht no return.  The politicians want to take more form those that earn.  This time around they wiill roll back the Bush taxes.

05/18/2008 08:34 AM by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)


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