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The new stimulus package is days from approval....
Senate OKs $150 billion economic stimulus plan
By Rex Nutting
Last update: 4:55 p.m. EST Feb. 7, 2008
WASHINGTON (MarketWatch) -- The Senate has passed a $150 billion economic stimulus package designed to provide a timely, targeted and temporary boost to the flagging U.S. economy. The Senate approved the measure, nearly identical to one passed by the House last week, on a 81-16 vote. The House will take up the bill quickly and is likely to send it to President Bush for his signature by the weekend. The plan would give tax rebates of up to $1,200 for households, with $300 more for each child. The full rebates would be sent to families with incomes under $150,000, including seniors and the disabled. The plan would also cut business investment taxes by $44 billion.
If you receive a check do you plan to spend or save?
Pop it into the bank and sit on it until I find the house I want. Then it will go toward something new for the house. Might be a couple of months, might be a couple of years. No matter what time frame, I'll still have it when I want it.
If people are smart, they'll endorse the check right over to whatever credit cards they owe rather than go out and buy a big screen TV or some other nonsense.
Poor people are going to spend it at Wal-Mart and by doing so are actually going to support the foreign workers that make Wal-Marts goods.
This package is only going to stimulate Bush's out going popularity, not the American economy.
The only way to stimulate the American economy is to support the American worker and buy American products.
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