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$600 tax rebates -- what are they smoking?

By
Mortgage and Lending with Jay Epstein State Farm Insurance

They have even given it a name: The Stimulus Package. 

The US deficit is predicted to reach $250 billion in 2008 BEFORE this "stimulus package" which will cost as much as an estimated $200 billion.

So $600 tax rebate per person is going to cure what ails the economy of this country?

Hmmmm.  Will somebody please give me some of whatever Nancy and co. are smoking cause I'm going to need it.

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Ross Quintana
Real E Smarter - Spokane, WA
Real E Smarter Real Estate Coach - 509-362-1966

It seems like a small thing but to the masses of people gripping their wallets, more poor than well off, this could pacify some of the fears of money tightening. Funny this ally won't affect the people who don't care about this, because they are losing their money in the stocks and housing, It is an interesting approach to see if they can push on the other side and stimulate the masses of poorer people to spend some money and thus the walmarts and markets will get a little punch and we;ll see if this slows the stock volatility.

some very smart economists in rooms probably came up with the idea so I have to give them the benefit of the doubt that they aren't just guessing with 200 billion. We'll see

Ross Quintana - Team Quintana Real Estate

Spokane Real Estate Expert

www.TeamQuintana.com

Jan 24, 2008 12:21 PM
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate
We won't get to see how this "rebate" affects anything until as early as June, at least according to our local news tonight.  I don't think that the general public realizes that the check will not be in the mail next week.
Jan 24, 2008 12:35 PM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"
Yeah..I don't know, seems like we have bigger fish to fry than $600...
Jan 24, 2008 01:05 PM
Lisa Epstein
Jay Epstein State Farm Insurance - Ukiah, CA

My point is why do we want to give money to the poor people just to encourage them to spend money at the mall that they actually need to buy milk or food?  It makes no sense and now the leading democrats are duplicitous in the explosion of national debt.  This "stimulus package" will cost almost as much as the war!!  It is an unconscionable gamble.

Jan 24, 2008 01:40 PM
Tina Maraj
RE/MAX One - Fullerton, CA
Celebrating 30 Years of Real Estate Sales
I heard the same thing and thought to myself...that barley covers the rising price we have to pay for gas!
Jan 24, 2008 01:43 PM
Scott Wall
StoneHouse Realty, Inc - Bristow, VA

Just another reason wht we need to get government out of our lives. Name one system run by these idiots that works.  How do people who don't pay taxes get a TAX rebate?! Plus how does giving food stamps help the economy? Are we banking on cheap cheese purchases saving us? More reasons that this Congress has the lowest approval rating in recent history.

Jan 24, 2008 01:51 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

It's the weed of hubris, arrogance, ignorance, neglect, collusion and incompetence. 

Want more???

Jan 25, 2008 03:19 AM
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

I would like to see the Congress take a pay cut, or freeze their pay and benefits.  They vote to give themselves a pay raise every year!  Have any of them noticed the price of gas and oil?  No, we are probably paying that for them:)  People do not watch who they vote for.  Congress is out spending our money, all day.  One of the reasons I do not watch the news!  Need to stay motivated:)and positive!

Feb 07, 2008 07:29 AM
Matthew Rosov
Amerisave Mortgage Corporation - Laurel, MD
Certified Mortgage Planning Specialist
Not only $600, but $600 to those that don't even pay taxes!  We should ban the government - that might make commerce go better!
Feb 07, 2008 08:19 AM
Ron Avneri
Seattle, WA
Financial Professional
This cures nothing except for one car payment
Feb 07, 2008 08:36 AM
Jeff Fullmer
FM Properties - Idaho Falls, ID
Real Estate Investor/Financier

Matt, it looks like the final bill Congress just passed today will only pay out $300 to those who do not pay income taxes (but they had to of earned at lest $3,000 last year).

There is one thing to keep in mind, this is an election year. Every politician up for re-election wants their greasy fat fingers on this one so come Nov. they can point and say "look, thats my mark - you got the $$$ because of me, keep me office!"

Feb 07, 2008 08:51 AM
Lewis Poretz
Apex Home Loans - Annapolis, MD
Business Development Manager
great blog ---  $600 bucks will do what???????
Feb 07, 2008 12:39 PM