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How are Americans likely to spend their tax rebates? Expect sellers of food and clothing, such as Wal-Mart, Kohl's and Target, to be the biggest beneficiaries.
Politicians know how to do one thing well: hand out money.
With a possible recession looming, politicos in Washington, D.C., are rushing through a tax-rebate package twice as big as any cash giveaway in the past four decades.
How are Americans likely to spend their tax rebates? Expect sellers of food and clothing, such as Wal-Mart, Kohl's and Target, to be the biggest beneficiaries.
I guess I do not understand the title of the thread. You cite an article which discusses the fact that people will probably spend the money that they receive. That's a news flash?
Then it seems as there is an implication that a proposed stimulus package may force people to spend it at Walmart so there must be some giant conspiracy between Walmart and the federal government. Can't they spend it at the corner grocery store?
Are family is with you 70Ford. Why spend money that isn't in the budget? That means it is money that we don't need now, but could use at a later date. How many of you have a financial cushion to fall on? Are you a paycheck away from financial ruin? My thought is that you need at least a 3 month supply for bills and exspenses. A year of reserves would be better. If you just have to spend it, how about on something that will help you out. Do you have a 72 hour emergency kit? With all the things that are happening in the nation you may want to make sure that if there is an emergency in your area, that you have food, water, clothes, and other items that can get you by for at least 3 days.
Assuming people hoard the money in a Bank it will also stimulate the economy because it will increase the reserves of the bank and hence increase what they can loan out.
Regardless, I'll probably spend my rebate on a short vacation or some toys. Those "smarter" ways to spend your rebate all seem rather stupid. Why would you save money for retirement in a savings account?
The money won't arrive until may, by which time the economy should be reeling. Too little, too late. Most people will probably just save their money or pay off debt, totally the opposite of a stimulus. The government should have used the money instead to extend unemployment or create government jobs (maybe building roads or fixing failing bridges).
Anyone who decides to spend the money should make sure that whatever the money is spent on goes to workers and business in the USA. It won't do us any good if the money goes to China or other third world countries to stimulate their economy.
Me, I'll probably put it on a credit card to pay down my debt.
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