Too little, too slow, too late. That sums up Bush’s “economic stimulus” package. The concept behind this stimulus was that 130 million Americans would get $300 to $1800 from the government and run out and spend it on canoes, juicers and other non-essential goods to “stimulate” the economy. It ain’t gonna happen.
Instead of dispersing the rebates quickly, without giving consumers adequate time to factor in their rebates to their bill payments, the IRS decided they would send out 130 million checks over a 3-4 month period. Even the majority of those who “e-filed” through services like Turbo Tax will have to wait into the summer for a check simply because their filing fees were deducted from their Federal return.
Every poll now shows that a huge majority of Americans will spend their rebate on bills or save it. We’ve had time to factor it into our incomes. We’ve planned this money into our budgets. Instead of being looked at as “found money” it will go to the credit card and mortgage company investors concentrating even more wealth for the elite 10% who control 90% of the money. Bush sure has taken care of “the Aristocracy” (his words, not mine). Down to his last moments in office he listened to his age old financial advisers who’s agenda has continuously been to look out for the haves at the expense of the have-nots.
Pumping federal money into oil reserves that are full, military contractors and the wild west banking sector will be Dubya’s claim to fame. Meanwhile working Americans will continue to lose their homes and jobs because Corporate America must keep and increase their profit margins. The American worker, once every companies greatest asset, is now viewed viewed as the greatest expense and liability when trying to show a return to share holders. Has it dawned on any ardent supporters of capitalism at any cost that the ultimate price may be capitalism itself? I know it sounds Marxist to label capitalism self imploding but is it happening right in front of us? You cannot concentrate wealth while creating poverty, under any label, without disastrous consequences.