Tax Rebate Checks have Started to Arrive
The Federal income tax rebate checks have started going out. According to President Bush:
“These rebates will deliver up to $600 per person, $1,200 per couple, and $300 per child,” Bush said in his weekly radio address.
About 7.7 million Americans received their rebate checks last week. More are on the way.
May 2-15: Taxpayers who receive their tax refunds – or make payments – through direct deposit will receive stimulus payments in their bank accounts.
May 16-July 11: The rest of the 130 million stimulus payments will be sent through the mail as checks. Check your card: Stimulus checks will be sent out in the order of the last two digits of the Social Security number used on a tax return. For joint filers, the first Social Security number listed will determine the timing of the couple’s rebate check.
So the question becomes: will the rebate checks help?
The economic news in the United States lately can best be described as confused. Some financial pundits and economists swear we are in a recession. Others say no way, Jose.
Unemployment actually fell in April a little bit. But inflation is up, with food and gas prices high.
My best estimate: the rebate checks won’t do much for individual situations. Of course, I won’t be turning mine down, however.
May 5th, 2008 at 1:26 am
I came across your blog on Technorati. Nice site layout. I will stop by and read more soon.
Mike Harmon
May 5th, 2008 at 9:16 pm
Do you think that the tax rebate will help small business companies to get paid quicker?
I think more people should get interested in the data provided by the Purchasing Managers Index in order to get a picture of today’s economy.
May 21st, 2008 at 11:28 am
I don’t think it will help any debt get paid by anyone. I personally think everyone will use the money to just get by with groceries and gas money. It sounds good to pay off a debt with the rebates but realistically I don’t think that many families will be able to do that.