Free Money… NOT!
24 03 2008It’s common knowledge that the government is synonymous with inefficiency. Tack on whatever epithets you will–slow, circuitous, hypocritical–they’re mostly true. So should it come as a surprise that the way the government is handling the Economic Stimulus Act of 2008 is less than intelligent? For those unfamiliar–that is, if you haven’t received one of those letters–the government plans to send most people who make less than $75,000 a payment this May of $300 to $600 to stimulate the economy. Sounds good so far. But it cost $60 million to print the letters, many millions of which inappropriately arrived in the hands of those not receiving a payment. I know this because I got the letter, and I’m not getting a cent because I can be claimed as a dependent. Meticulous IRS records somewhere in Washington show that I am not eligible, so why spend money to send me a letter? I suppose this would be way too easy, but why not just send the eligible taxpayers a check with a small printed explanation?
Gee, I wonder why everyone’s worried about a recession.
I know that I’d be trading my dollars for gold (or something of the like) if it weren’t for the fact that I owe more than I own.
I like to call it the chinese economics stimulus act of 2008.
The government is going to increase its debt by a few billion by selling bonds (the main way they do it), to mostly the Chinese (the largest holder of us government bonds or so i was told), to give Americans some spending money.
A good portion of that will be spent on buying good made in China. How does this help anyone other than the Chinese?
I’m shocked! This, our sturdy American government, committing circuitous and questionable acts?