Friday, April 25, 2008

That Check That's Coming In The Mail Soon Is A Wonderful Bank Bailout

Here's stimulus: What you need to know
A how-to guide for checks that could be coming to your mailbox as soon as next week.

"The rebates serve as a one-time tax cut initially based on their 2007 incomes - an advance on a credit taxpayers will receive on their 2008 return."

Got that? Plenty of apologists are insisting that this won't be like 2001 where big brother sent out a few hundred bucks to taxpayers that lo and behold, had to be paid back the following spring. There's no free lunch and this isn't free money. This is an unrequested loan that will have to be paid back in one form or another, whether in raised taxes or cut from next year's refund. Count on it.

The entire premise is a lie also. The scumbags know we're all hanging by our fingernails and will pay bills, mostly bank credit cards. Very few people will blow it on a wide screen TV. As a matter of fact the last time they did this "A survey conducted at the University of Michigan, found that only 22% of households in 2001 said they would spend their Treasury rebate." It's around the same this time. This isn't a jump start for the economy at all. It's a scam to prop up banks who are getting hit from their bad loans and massive defaults.


Post a Comment

<< Home

Cost of the War in Iraq
(JavaScript Error)
To see more details, click here.