Tax Rebates

I've been hearing a lot of hoopla about tax rebates as part of Bush's "stimulus" package. I have to agree with Mike Huckabee on this issue. Where is the USG going to get all the money to send every tax payer at least $300? I do believe it would be better to use the money on our nation's infrastructure. I particularly liked his complaints about TSA in respect to waiting in long lines, removing shoes, and waving toothpaste in a clear plastic bag around lmfao.

However, I do disagree with his view on globalization. While it is true, most of the money would be spent on products made in China, it is American retailers who sell them. China will use the profit on buying products they import. It is kinda like a big circle as no one country can support itself. Do we need to look at the pitiful state of North Korea to verify that principle?

Even before that comment, I believed Huckabee needed a few more economic classes. Replacing the current income tax system with a national consumption tax encourages saving and penalizes the medium-low and low classes.

Back on track. If the tax rebates become a reality, shouldn't Americans use it towards something productive instead of blowing? The national average credit card debt is $9000. It's higher in the Northeastern states and their average includes twice as many cards.

I will use mine towards one of my credit card balances. CitiBank is mailing me a balance transfer check and I'll be able to pay off one of them. The interest rate on the balance xfer is 7.9% for until it is paid off. The only hitch is the 3% fee. I think the current interest rate on the card I will use it for is 12.24% and will save me more than the estimated $180 bal xfer fee.

Last week, a FNC journalist made a good comment on the tax rebates. She disagreed with our economy being in a recession. Her point was, if the economy gets into a recession due to financial issues (ie. housing market), how is borrowing money to give to citizens going to help it? And what precedent is this going to do for when we really have an economic crisis? With income tax season upon us, the IRS is going to be getting bogged down and delay the checks getting to the people!