The Government Stimulus Plan Wants You to Be Irresponsible.
Derek outlined a few of the details of, and pork found in, the Government’s Stimulus Package. There have been some updates since then. Sadly one of the primary changes was the reduction of one of the very few Republican ideas. Senate Republicans had originally insisted on a $15,000 Tax Credit to home buyers but this was reduced during the House and Senate negotiations to 8000$ and the deadline shortened to September.
The biggest change the average Joe will see is that they will not be getting the “Stimulus Check” they thought they were going to get. Besides reducing the “Stimulus Check” from 500$ a person to 400$ a person the way in which this money will be distributed has been changed. Instead of a check mailed out in one bulk payment we will each be getting 13$ a person a week. They plan to do this through our tax withholdings by withholding 13$ less per week than they would have otherwise.
What this means is that they don’t want us to be able to use our stimulus money responsibly. Instead of allowing consumers to pay off their car, add to their savings, pay a month of rent, we will be given 13$ a week that will vanish into the ether through small things people never notice: A trip to the local burger joint, an extra couple beers when you are out during the weekend, etc. The government believes that spending money loosely when you can’t afford it will repair the economy and they don’t believe that saving money and paying off your debts will improve your personal financial situation.
So everyone go out and tell little Tommy that someday he can be a Senator, all he has to do is start spending money and running up a massive debt early in life.