Mercnbeth
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Next time you hear that there is "bi-partisan" support for a Bill pending in Congress the question that should go through your mind is; "How much are the Corporations getting this time?" Soon, for many, there will be a Corporate Welfare check coming to your mailbox. It's payable to you, but the beneficiaries are the Businesses and Corporations 'hurt' by the faltering economy.
The latest scheme is both insidious and brilliant. My guess is that most will think this is a great idea and will benefit the poor and middle class. Yet the reality is that the people NOT qualified to get the 'rebate' ('Ya gotta LOVE that term for getting back your own money!) who stand to benefit the most.
The Bill will produce $28 Billion of checks based upon the source article. Helping the struggling mortgage industry or the utility companies or the auto manufacturers by giving them a $28 Billion handout, having an overall cost of $100 Billion, may have caused a revolution. Instead of doing that - why not give it to the naive general public in an amount large enough to seem material, but small enough not to actually change their situation? Don't follow me?
What will you do with your check? Catch up on a late mortgage payment? Pay an outstanding Xmas bill? Pay for gas? Pay for a larger than usual utility bill (This global warming has been particularly bad this year - hasn't it?) Who knows, maybe some will use it for a DP on a new car? Or take a day trip somewhere? All these uses for your tax dollars coming back to you help bail out the Corporations and greatly benefit those running them. The high income individuals won't be getting one check - but they'll be getting a whole collection of yours; and as a result - their 1st quarter bonuses are assured. Trust me - it will be MUCH larger than the max $1,200.00 being sent under this program.
Doubt that logic - check out the NY Stock Exchange. The Bulls came out and bought big time once Speaker Pelosi and John Boehner announced their bi-partisan support for this plan. How nice, once again we have an example of the Republicans, Democrats, House, Senate, and Executive branches of the government all in agreement. Anyone remember the last time this occurred?- - - - - - - time's UP! It was the Immigration Amnesty Bill, the last Corporate Welfare getting bi-partisan support - that time directed to insuring a cheap labor pool into the next generation. Only a grass root, very vocal and adamant outcry prevented that from becoming law. But now, by including a bribe in the package, I doubt there will be a similar public outcry.
And could there be better timing? An election year - where the incumbents can go back home to campaign with $600-$1,200 or more - checks in their hands! Let's hear it for Bi-Partisanship! Release the re-elect the incumbent voting lemmings!
One other thing that is too important to include in the general quote below: quote:
The rebates were expected to cost about $100 billion, and the package also includes close to $50 billion in business tax cuts. Those who were "left behind" as a result of public education and are deficient in math skills should note; although the emphasis is being placed on the big check the people will be getting, there is $50 Billion allocated in the Bill for "business tax cuts". $50 Billion is $22 Billion MORE than the estimated $28 Billion going to individuals. Who says that PAC contributions to politicians don't payoff? You can bet the Banking and Mortgage industries will be sure to take advantage of those cuts in ways you can't comprehend to do with your personal $600.00
Want to do something about it? Don't spend the check - save it. At least spend it in the 'underground' economy. Don't go to Walmart, K-Mart, Target, or Costco. Don't buy a new car. Don't agree with your mortgage collection clerk suggesting you use it to 'catch up on your interest'. How about collectively organizing a protest movement where the checks are burned like the old burned draft card days? Nah - I hear that the new batch of Wii games is in route and should be in stores timed for the arrival of the welfare checks - just endorse the back and hand it over to Circuit City or Best Buy, the intended beneficiary.
quote:
WASHINGTON (AP) - Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
The rebates, which would go to about 116 million families, had appeal for both Democrats and Republicans. Pelosi's staff noted that they would include $28 billion in checks to 35 million working families who wouldn't have been helped by Bush's original proposal. Republicans, for their part, were pleased that the bulk of the rebates—more than 70 percent, according to an analysis by Congress' Joint Tax Committee—would go to individuals who pay taxes.
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children.
Source: http://www.breitbart.com/article.php?id=D8UCFD1O0&show_article=1
< Message edited by Mercnbeth -- 1/24/2008 2:34:29 PM >
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