I guess you've heard the latest thing out of Washington, that leaders on both sides of the aisle say is needed to prevent us from falling further into a recession - a rebate. If you pay taxes, the thinking is that you should receive an $800 refund, with working families receiving as much as $1,600.
Don't get me wrong, when the government wants to return some of my money, I like it. But here's what bothers me:
1. We hear all the time about our debt spiraling out of control. Is this going to help that? I don't think so.
2. If we can't afford all the other things they say we can't afford, how can we afford this?
3. Since the feds don't earn money, they take it from taxpayers, isn't the money they are returning, already ours?
4. Since they didn't apparently need it to begin with, it would appear to me they overcharged all of us on the front end. I don't recall getting my apology letter. If I took your money, kept it until I was ready to return it, it would seem to me that I would at least owe you an apology for overcharging you on the front end.
5. Here's the really big one - If giving us this money back now will really cure a recession, why didn't they give it back earlier, and we would have avoided one?
6. And finally, here's the really troubling one - If this will increase our debt as a nation, not lower it, won't they sooner or later need the money back? I am pretty sure the answer is yes. The problem I have is timing. Will they want it back after I take the $1,600 they are promising me and make a down payment on a car in order to spur on the economy (they have openly said they hoped we would spend it not save it) and have a car payment I can barely afford? Hey, but why should I worry? Knowing how benevolent and patient the IRS is, they will probably let us pay it back whenever we want to - just like they did us, right?
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