Congress Approves Tax Rebates

President Bush plans give the ailing U.S. economy a boost, including tax rebates of at least $600 person. This plan is designed to be a "shot in the arm" for the flagging economy. The plan is to give $600 payments for individuals — $1,200 for couples — plus $300 for each child younger than 17. It will begin to phase out eligibility at $75,000 in adjusted gross income for individuals and at $150,000 for couples. Workers who can show $3,000 in earned income last year — too little to payincome taxes — would be eligible for $300. The checks will be sent separately from tax refunds.With this tax refund President Bush hopes that it will help the economy, to get consumer out there and buy and buy. With this rebate it sounds like it would help the US economy in a big way , but i see different. With people in so much debt and houses for forecloser people are not wanting to buy more expensive things that would out them more in debt. Yeah the money will help but not enough to bring us out of the real word is depression not recession.This article was well informed to tell us the reader what to expect for the tax rebates and what the government excpects from it also. So I hope that the american public spends the money what fits their needs.
http://www.statesman.com/news/content/news/stories/nation/02/08/0208stimulus.html