So far, I haven’t run across anyone eager to get their hands on the government’s proposed economy-stimulating rebates of $300, $600, $1200, or more. It’s hard for a non-economist like me to see how distributing money the government doesn’t have, increasing the national debt in the process, is going to improve the economy.
The whole concept is bizarre: On the one hand, financial advisors are constantly telling us to reduce our debt, save more, spend less, think ahead for our retirement, live within or below our means…in general to be frugal, mindful consumers. Now we have the government in effect saying, “Hey, here’s some free money, go out and spend, spend, spend!”
It’s like giving alcohol to alcoholics or drugs to abusers. Clearly politicians are counting on Americans’ addiction to frivolous, “feel-good” purchases, living beyond our means, buying today, and paying (or not paying) tomorrow. They’re counting on there being not many people like Mike and me, who plan to put the money toward current debt without incurring any new.
And does anyone really believe this is free money? That we, as a nation and as individuals, won’t be paying for it for years to come? I was always told the government “needs” my hard-earned tax dollars to keep the country running — that’s why I, as a self-employed person, dutifully write out my check to the U.S. Treasury every quarter — an act that would surely result in a nationwide tax revolt if every citizen had to do this, instead of the government insidiously taking our money from every paycheck before we’ve even seen it.
Now they’re OK with giving it back? They didn’t need it in the first place? Why, you’d think the need to cover health insurance and other benefits for all those illegal aliens alone would necessitate keeping the money in-house.
Somebody who understands all this, please explain it to me. (Oh, and please include an explanation of why people who’ve never paid federal taxes in the first place are getting money back too.)
Income tax returns are the most imaginative fiction being written today.
~ Herman Wouk
Writing by Ear 