Married? Make it $1,600!
I’d be re-hashing economic news if I went into where the economy is heading. We all know the giant hand is heading toward the toilet bowl handle for the grand old *flussssssssssh*.
But FEAR NOT!
YOUR President has a plan!
Who wants eight hundred bucks?
Oh yes, TEOTWAWKI warriors. In case you didn’t catch yesterday’s news, ole Bushy wants to try stimulating the economy by giving tax rebates. Check this action:
Right now, President Bush is said to want an income tax rebate that would be generated by eliminating the 10 percent tax bracket, which applies to roughly the first $8,000 of income for single filers and the first $16,000 of income for married couples filing jointly.
That would mean taxpayers could get rebates of up to $800 if single, or $1,600 if married.
Scope the source here. Democrats appear to be on board – so long it’s a full rebate for anyone with earned income. The Democrats makes more sense on this. Lower income households, the people taxes hit the hardest, would get a sweet check. These are also the people most likely to SPEND the money, which is the whole purpose of the rebate anyway – stimulate the economy.
According to the article checks could be cut toward the end of June.
Whether or not tax rebates actually jolt the economy is a whole other question. As I said in a previous post, economists don’t have a clue, worse than weathermen . . . well maybe. Here’s another article covering the same story.
Eight-hundred bucks . . . . . . hmmmm . . . . . . what would YOU do with it?
– Ranger Man
BTW: Gold is around $880 an ounce right now . . . . add 80 bucks and you have an ounce.