In 2010, we might get a tax rebate that rivals the amount everyone got in last year's rebate, which is fortunate news for everyone. With a new president in Washington and the financial crisis leaving many people destitute, it reflects well on the new president to help out the common man and give him some assistance.
In the fall, you will be able to experience a new tax stimulus plan that will assist taxpayers. The total amount rebated to taxpayers could be around $800 for each person, which could add up to around $150 billion or more. Since the 2009 stimulus wasn't quite enough to get the economy started again, sources indicate that next year's rebate will help. It can be utilized to buy gas or even just save for an emergency. The IRS didn't do so great the last time they distributed stimulus checks, as some people didn't even get theirs due to computing errors.
Making another tax rebate seems ineffective to some. With the rising cost of living, it's fully possible that Americans won't use it to stimulate the economy, but rather just save it and squander it. We've had a lot of people worrying about the advantages of an additional tax rebate. With the deficit being as high as it is already, there are many worries that we just don't have the money to bail out everyone; however, it's entirely possible that the tax rebates could come out of the banking bailout that is occurring.
President Obama, when he was campaigning, put forth a plan for tax rebates providing every American citizen with $1000 that would be used for consumer spending and giving the money they need to live. Oil companies may be more harshly taxed, providing the rebate income. Now that he is president, Obama has to put forth this plan and get it approved, so that the American economy can get the help it requires to survive; it's a critical time for this nation, and a plan like this could help.
One major frustration that Americans feel is paying for others' financial issues with their tax dollars, making them oppose tax rebates. What they have to be concerned about is all of the extreme military spending and financial bailouts to downed companies. No matter our national debt, we need to pay it back sometime, whether we're ready or not. We might not be up for the task when the moment comes. Our economy is in trouble, and has to be salvaged before the damage gets too far, directly affecting people's livelihoods. A tax rebate may just be the thing that gets us on the right path.
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