Site Meter Media Criticism » Blog Archive » The Economic Stimulus Package: False Panacea for America’s Problems

The Economic Stimulus Package: False Panacea for America’s Problems

by Nicholas Katers

dollars.jpg

I do not plan on spending my rebate check on shoes, jeans, groceries or any other consumable items that the government would like. I have to go back to the word “rebate� and point out the fact that we will have to pay off this “rebate� in successive years with interest. This cash advance on the national credit card won’t help the economy because there are millions of people like me who have at least $600 of debt to pay down.

As a freelance writer, I have a significant amount of self-employment tax to pay as my annual income increases. I will pay down this tax debt with my rebate check which means the government is giving me a gift card for the Internal Revenue Service. I am sure the representatives and senators I contacted about this ridiculous stimulus package won’t be happy to know that their check is coming back to pay off my tax liability.

I have considered making a large payment on my credit card or student loans with the rebate check. The winner in my personal rebate battle is investors who have put their money in the lender that allowed me to get an education. These investors and lenders would win anyway because they have such large financial resources that they will be able to deal with the brunt of a recession.

The third option I have for the rebate check that will come well into our looming recession is sending it back to the government. I can scroll a long diatribe against wasteful spending across the front and return to sender. I am sure quite a few people will think this act is a sign of insanity but I think it is a great idea if you want to send a personal message.

The whole point of this post is that the economic stimulus package is akin to throwing a rock at an oncoming tank. I know Congress is eager to spend our money without reconciling the books so I think we should see something tangible from this spending. We should see improved highways and infrastructure to decrease the consequences of natural disasters. An investment in science and math education that makes the next generation of students ready to deal with 21st century problems would help our country in the long run. A portion of this money could be spent on alternative fuel investment, business incubators and other programs to revolutionize our economy.

I think we need to commit to one of two paths: investment in the challenges of the next generation or responsible spending. This choice seems to get lost in the mainstream media which assumes that our government will always be out of control. I don’t even want to get into the international issues of America’s debt in this post, I have already gone on too long.


3 Responses to “The Economic Stimulus Package: False Panacea for America’s Problems”

  1. Media Criticism » Blog Archive » CNN Debate Highlights Dangers, Benefits of Prolonged Process for Democrats Says:

    [...] of questioning got more contentious. I liked Hillary’s promotion of green jobs as part of the stimulus package though her platitudes after the fact mean nothing in the end. The 90 minutes of debate got ugly in [...]

  2. TB Says:

    On approximately 5/1, I received a letter that a direct deposit of my stimulus check would occur on approximately 5/8-ish. It was to be for $900 (I’m a single mom). The deposit never appeared. I subsequently learned that because I used TurboTax to file the deposit would be delayed until early July…

    Exceedingly inconvenient, but I’d manage it. Besides, I had a letter in hand quoting eligibility and a $ figure. And my property taxes weren’t going to lien for another couple months.

    Yesterday, I had a little extra time, so went fishing for criteria and confirmation of the July date. After an hour of hunting, buried in embedded windows, I found ONE very brief reference to the criteria. I couldn’t believe it. I called to confirm. I learned that the letter they sent me was an error (ya think they’d communicate something like that!) I’m getting NOTHING.

    It turns out the plan doesn’t take into account itemized deductions. Oh, like mortgage interest, health care expenses, nor exemptions like a 17 yr-old child. …Given the mortgage and health care discussions and the hype about them, you’d think it would at least allow those deductions. Nope. Its based on gross income, period.

    Well, gross income ain’t the be and end all.

    40% of my gross income is wiped out by mortgage interest, property taxes, and health care/insurance. Resultantly, my disposable income is less than my parent who is on Social Security. But I don’t qualify.

    …Wasn’t this whole thing to provide relief for ills like these?

  3. Tib Says:

    On approximately 5/1, I received a letter that a direct deposit of my stimulus check would occur on approximately 5/8-ish. It was to be for $900 (I’m a single mom). The deposit never appeared. I subsequently learned that because I used TurboTax to file, the deposit would be delayed until early July…

    Yesterday, I learned that that letter was an error (ya think they’d communicate something like that!) I’m getting NOTHING.

    It turns out the plan doesn’t take into account itemized deductions. Oh, like mortgage interest, health care expenses, nor exemptions like a 17 yr-old child (contrary to belief, they get more expensive not less. Also unless we want to deliberately perpetuate our educational downturn, teens with eyes to contributing to our future tax-base are too busy with school work to also manage family-contributory employment. Consequently, they drain increasingly more family income for tuition/books, even if they opt for a public college).

    In So California, on the margin of the cut-off zone, gross income ain’t nearly what it seems.

    50% of my gross income is wiped out by mortgage interest/payment, property taxes and health care/insurance. Figure in gasoline to get to my job and my “disposable” (i.e. food, utilities, car insurance, notebook paper for school) income is about the same as my parent who is on Social Security.

    …Given the mortgage, health care, and fuel costs discussions/hype, you’d think the stimulus rebate would at least allow these critical deductions.

    Nope.

Leave a Reply


About Media Criticism

Media Criticism takes a critical look at the media's coverage of news, politics, celebrities, and current events. It is not intended as a replacement for traditional media; rather, it is an analytical lens through which mainstream journalism can be viewed.

Media Criticism Author(s)
    » Jerri-Ann

Blogging Flair

twitter_cruise_button al.com - Alabama Blogs

Politics & News Channel Posts

  • Indepence Day
    Does it resonate strong with yu?  Do you have tons of memories of traditions from your years as a child?  What does that entail?  For me, it’s homemade ice cream and watermelon with [...]
  • 4TH OF JULY REMEMBRANCES
    Tomorrow is the Fourth of July, Independance Day here in the U.S., and I thought it only appropriate to spend a few minutes thinking about the price paid for our "freedom". Have you ever [...]
  • Marijuana Law Reform!
    Urge Congress To Support Marijuana Law Reform!     I'm writing you today to remind you to contact your members of Congress in support of marijuana law reform. Massachusetts Democrat [...]
  • Michael Jackson Memorial
    You know, it’s hard to say what I really think but for the most part, I feel like the man has died and as long as the family is willing to share a memorial for their family member, then this is an [...]
  • THC and Schizophrenia
        Daily administration of oral synthetic THC significantly improves symptoms of schizophrenia, according to the findings of an open-label case series published this month in the [...]
  • Microfluidics
    A new credit-card sized device could provide a way to test people for heart disease using a pinprick of blood. Developed by a team of researchers from Harvard and Northeastern universities in [...]
  • Honeywell Windgate wind turbine
        Has affordable, practical home wind power generation become a reality? The Honeywell Windgate wind turbine from EarthTronics may be a contender. EarthTronics and Honeywell Corp developed [...]
  • Identity Theft Precautions...
    Good Advice for Anyone...        Read this and make a copy for your files in case you need to refer to it someday. Maybe we should all take some of his advice!  1. The next [...]
  • Hodgepodge of Michael Jackson and Farrah Fawcett
    As you can probably tell from my other blogs that I have been mesmerized by the Michael Jackson stories just as many others have.  But, if you watched the BET’s on Sunday night you heard Janet [...]
  • Solar Tents?
    Broadband and telecommunications giant Orange is using its regular slot at the UK's most talked about music festival to announce its vision of ultra- comfortable camping for lovers of all [...]

Hot Off The Press

  • Don't ask if you don't want to hear the answer!
    I have a new mantra: If you don't want to hear the answer, don't ask the question. All of us have asked those innocent little questions, like "Do these pants make me look fat?" or "Is she [...]
  • The Proposal: What the Critics Say
    Ryan Reynolds and Sandra Bullocks’ romantic comedy, The Proposal may have hit well in the blockbusters but what do the film’s critics say about the film. Well I have searched through the [...]
  • Kaitlin Cassidy talks about Paris Hilton
    Another star slamming Paris Hilton? Definitely not! In fact, we are not even talking of a star here. So who is Kaitlin Cassidy and why she’s talking about our dear heiress? A graduate of [...]
  • What can I say? Dr. Baldwin deserves this
    This is my fourth of July edition an I feel that to honor someone who serves our country is the way to go.  This man is famous however, a stint on The Bachelor has probably ruined any chance at [...]
  • Happy 4th of July
    I know that unless you are in the mood to run around like a crazy woman, the tips here may not be very helpful.  But, at the same time, some of you might like to employ some of the ides here on [...]
  • To Clean Up A Bit ...
    Okay ... normally I'd be jawjackin' about the latest happenings or doohickies in rock music, right? But, y'know, sometimes yer PC just doesn't wanna behave when you're doin' the Last Writes [...]
  • Raw in Auckland, McCool Photos, "Million Dollar" Profiled
    -World Wrestling Entertainment has kicked off this week-end in Auckland, New Zealand. You an see photos of the the Raw roster for the event on WWE.com. -Michelle McCool has new photos in her ecent [...]
  • Indepence Day
    Does it resonate strong with yu?  Do you have tons of memories of traditions from your years as a child?  What does that entail?  For me, it’s homemade ice cream and watermelon with [...]
  • Emily as Dr. Farquad
    Saw the movie My Sister's Keeper last night - I left the theatre with mixed feelings. The film was beautifully done, and I say that after watching it with skepticism. I pretty much knew the storyline [...]
  • Nicole Richie’s Maternity Collection out this summer
    For a fashion icon and mother-to-be (for the second time) like Nicole Richie, coming up with a maternity collection is something that fans have always anticipated. Why even while still [...]