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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (56360)	9/29/2008 11:44:02 AM
From: Jorj X Mckie	3 Recommendations Read Replies (1) \| Respond to of 57110

This year we had an Economic Stimulus Tax Rebate program that provided $600 for up to 130 million people. I'm guessing that not too many people who read this thread actually received one of these rebate checks. I know that I didn't. Anyway, the quick math on that is $78 billion was put back in the hands of the tax payers in an attempt to stimulate the economy. Now we are looking at a $700Billion bailout that can only come from taxpayers. At an estimated 200million taxpayers (I could look it up, but it's close enough for this exercise), that works out to an average of $3500 more in taxes per person. so, my question is....if $78 billion dollars put back into the hands of Joe 6pack was supposed to stimulate the economy, what will be the effect of taking nine times that amount OUT of the economy? Remember, we ain't gettin anything for our $3500/ea. That money isn't building a highway, that would create jobs and require raw materials and equipment that would in turn create more jobs.... The bailout package may temporarily keep things from imploding, but the longer term effect will be to weaken our economy. The bailout will have a cost of $700B, but there is no way that we can get $700B of benefit since it will have to go through the government bureacratic machine and that costs money. The the net net on this is that this will have an overall negative impact on our economy.