Quick Hits: Government Looks to Spur Economy (In No Particular Order)
Brief scrutiny of today's headlines.
Separate from the income tax refund, filers earning $75,000 or less will receive $600, married couples earning $150,000 or less will get $1,200 and parents who fit these guidelines will be given an extra $300 for each dependent child under 17 (what's R. Kelly going to do with that extra five grand?).
According to Kiplingers, rebates will start making their way to American wallets on May 2nd via direct deposit and should be sent out by mail no later than July 11th.
While the plan is to be commended for attempting to provide an instant jolt to a sagging economy, the manner in which rebates will be disbursed is arbitrary at best and ill-considered at worst.
A plan aimed at facilitating economic relief should first address the needs of those who need help the most. Distributing the rebates based on level of income, starting with those in the lowest tax bracket, would be both simple and efficient. Instead, rebates will be doled out according to the last two digits of taxpayers' Social Security numbers.
Uncle Sam's well-intentioned in his old age, but he's getting kind of lazy.
For more on Taxes, check out Hoofy and Boo's always astute analysis:
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