WTKK Listeners To Slackers: "Enjoy Our Money"
The $168 billion "Stimulate My Re-Election Campaign" package has passed the Congress and is headed to President Bush's desk. He's already agreed to sign it.
Gee, President Bush signing a huge, big-government spending program--I'm shocked!
The Wall Street Journal lays out the details of this government giveaway program:
Under the final bill, most taxpayers would receive checks of up to $600 for individuals, or $1,200 for married couples, amounts that would begin to phase out at incomes above $75,000 for individuals and $150,000 for married couples. Millions of people who don't pay income taxes but have incomes of at least $3,000 would receive smaller rebatesof $300, or $600 for married couples...People receiving rebates would receive $300 credits for each child.
First of all, how the heck can you call it a "rebate" when you give $600 to a family who never "bated" in the first place--who didn't pay any federal income taxes?
That's not a rebate. That's charity. And who is paying for it? Why, the folks who work hard, pay their own bills, and get stuck with the taxpayer tab. Remember: nearly half of Americans pay no federal income taxes. About 30% of the folks getting the "rebates" didn't pay any either.
All that money coming out of the pockets of our hardest-working, most productive citizens--the kind of people who tend to listen to 96.9 FM TALK.
Meanwhile, economists agree that the rebate checks will do little, if anything, to stimulate the economy. (There are other business-related tax reductions in this package, however, that actually might do some good.)
Granny will get an extra $300 to blow at bingo night. The unmotivated, part-time worker who spends most of his day watching re-runs of Three's Company will buy an additional $300 in lottery tickets and microwave burritos.
And the responsible, taxpaying families of America will get little or none of their own money back. They'll just get the shaft. Again. And, because they're good people, they'll just shake their heads, roll their eyes, and get back to work.
Oh, one more note: Guess what straight-talkin', tough, principled conservative voted "yes" for this package yesterday?
One hint: His first name is "Juan."
UPDATE: If you really want to help the economy, Larry Kudlow tells you how.