Feb 12, 2008

Economic stimulus package

by Kyle Patrick
February is packed with new happenings, and the month is still young. This year’s Super Bowl was the most-viewed ever, boasting 97.5 million viewers according to eonline.com. Aside from football, February also brings us Valentine’s Day, and maybe even $600. In case you have not heard, Congress recently approved an economic stimulus package that will give taxpayers some of the money they have given to the government over the past year. Many wonder why the government would want to give taxpayers back some of the money they have taken.

The reason is that the refunds that income tax payers would receive would encourage spending and therefore strengthen the economy, which has weakened over the past few months, according to FoxNews.com. Oddly enough, Republicans and Democrats are in agreement with Bush’s proposal.

“Most taxpayers would get $600 rebates, or $1,200 for couples. Those who earn too little to pay taxes, including senior citizens living off of Social Security or veterans on disability checks, would get rebates of $300 for individuals and $600 for couples,” according to an article in the Ventura County Star.

It is doubtful that the checks will be received before spring break. That may rule out expensive vacation events or pricey nights out in Lynchburg for Valentine’s Day, but officials seem certain that the refunds will be rolled back into the economy soon. Since the government can afford to pay out what FoxNews.com says will be $161 billion to its taxpayers, and both parties agree that it is good for the economy to put money in the hands of taxpayers, it would have made more sense not to collect it in the first place.

I would gladly spend money if I had more of it. It was, in fact, mine in the first place. It feels like I’m reaching into the pockets of a pair of pants I haven’t worn in 10 years, and pulling out a large sum of money which has accumulated an incredible amount of interest. I will be happy that I have the money, but angry it took me so long to find it. Contact Kyle Patrick at kpatrick@liberty.edu.
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