Wednesday, January 30, 2008

of tax returns and bad policy

I was excited (initially) when I heard that the congress came together to give each taxpayer back 'x' amount of money to stimulate the econony. With spouse and kids that will be a pretty good chunk of change. I thought, "Hey, if they got that much of our money left over - they oughta give it back!"

But then I heard "how" this was going to be accomplished. It seems that the United States is going to borrow the monies from China and distibute it to US Citizens who can spend it as they wish.

Okay. hmmmm.

This seems soooo messed up in soooo many ways. Here's some of them:

1. We are borrowing from China.
2. We have to pay this back in interest.
3. Consumers are going to use the money to by products made in (you guessed it) China!
4. We send billions of US Taxpayer dollars all over the world for foreign aid and then we do not get reimbursed and we "forgive debt". So we "give" our money away and we "borrow" money from China???? anyone else think this weird?
5. People who don't pay taxes also get a rebate. Louis Gohmert, Congressman from Texas, asked President Bush at the State of the Union Address a relevant question: "how do you give a rebate to people who didn't put bate in to start with?"

Call me crazy but this just seems wrong in so many ways. And its all to stimulate an economy created by the Adjustable Rate Mortgage fiasco that people got themselves into. Okay, so we are doing all this to bail out people who weren't smart enough to avoid an ARM? Are we going to start doing this for people who get screwed by a car salesman and get over their heads in payments "cause they were stupid?".


I thought about just refusing the money on principle. but then again.... :)


Anonymous said...

there are lots of stupid people and ARM's were designed to take advantage of them...

shame on the mortgage companies

nonprofitprophet said...

amen. I guess "do unto others..." doesn't apply to this huh. ~npp

MizAngie said...

I think I'll use my rebate to take a language class - to learn to speak Chinese...I'm gonna need it, especially with Rick Perry wanting to sell our highway system to the Chinese! It's just a matter of time before they own us.

nonprofitprophet said...

here's a chinese word for you: Ka-Chinge! thats the sound of our money landing in their coffers. NOt bad for just making that up huh? At least the buffets will become more numerous for a better selection! you gotta laugh or you'll just cry. ~npp

KJ said...

OMG, you said this SO well.

BTW, I have deemed it necessary....

it is time for you to visit our little town. There's good beer and tequila here. And as you know...very cool people.

nonprofitprophet said...

I was just thinking the same thing this morning. I'm past due for a Austin fix.