Spend Like A True American
Will The Rebate Check Trick Work? By Kelvin Wade Published 1-31-08 This week the House of Representatives passed a $146 billion economic stimulus package that would give individuals rebate checks of $600 and couples $1200. Each kid will earn you another $300. Now the bill moves on to the Senate. Lawmakers are hoping the money will go from the mailbox through our hands directly to retailers to jumpstart the economy. The government is saying, “Here’s some money. Go blow it.” I’m not an economist. But I have to tell you, I don’t know how much stimulating these rebate checks are going to do. With times as tight as they are and consumer confidence falling this month, who wants to blow a wad of cash? For instance, a rebate check would be wasted on my friend Joyce. I’ve seen her have to wrestle money out of her own hand just to pay a cashier in a supermarket. If you give her $600, it will only stimulate her to take it to BofA and toss it in her bank account. ...