Morning Buzz for Monday 2/18/08 - Will you go on a spending spree?

Those "tax rebate checks" we've heard so much aren't in the mail... but they will be soon.

Last week, President Bush signed legislation to rush rebates ranging from $300 to $1,200 to more than 130 million people, the centerpiece of government efforts to help pump money into the struggling economy. First, though, you must file your 2007 tax return.

The White House and Wall Street are hoping you will go out and spend the money... giving an energizing jolt to a national economy that is in danger of toppling into a recession.

Will people actually spend the money? Only time will tell. A recent Associated Press-Ipsos poll indicates most people have other plans. 45% said they planned to pay off bills, while 32% said they would save or invest it. Only 19% said they would spend their rebate money.
What will you do? Post a comment here. Maybe I'll read it on the air tomorrow morning.

Posted by on 02/18 at 03:57 AM

Our lil’ ranch is in dire need of a horse barn with a couple of stables and a corral..

I have plenty of money to complete this project..so this “rush rebate” is just an added bonus to make this project more pleasant on myself..

I’ll be giving the struggling economy an energizing jolt…thru the beer and tater chip industries..

If that dont crank this country back up…nothin’ ever will..

Ya’ll dont thank me..I’m just doing my part..I dont want people thinkin’ of me like I was some kinda hero or something…

I’m glad to help out..wink

Posted by  on  02/18  at  06:05 AM

I really hope they are in the mail.  This has been the hardest year that I can remember.  I work and still seem to have a hard time during the first of the year with taxes, insurance, all that comes with the new year.  I will bank my money and hope what happened this year won’t happen next year.  I’m sure there will be a lot of people just waiting to spend their check.  But, not me.

Posted by  on  02/18  at  08:18 AM

I would probably spend 1/2 of the money… Just be aware that the following year taxes you have to claim this check as an earning.  That is the one issue that I can see with this check. Would have been nice if they had just remapped the tax chart for this year instead of doing this.

Posted by James  on  02/18  at  10:40 AM

Thanks for posting your thoughts!  It looks like the AP poll is right—some will spend, some will save, some will pay off bills.  The AP also reports if Americans don’t spend enough of the rebate money to boost the economy… lawmakers are already thinking about other rescue bills, including one to help with the housing crunch.

Posted by  on  02/18  at  12:07 PM

Well they dont have to put too much effort into other rescue bills..

..I’m sure the beer and tater chip thing will work…:)

Posted by  on  02/18  at  12:11 PM

Paying bills for sure. I’m happy to have it but I don’t see how it’s going to help the economy.

Posted by  on  02/18  at  12:46 PM

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