Last week the President proposed a new economic stimulus package. It would be similar to the checks that were sent to taxpayers in 2001 to stimulate the economy.
Details from CNN include:
$600 for individuals and $1200 to joint filers who paid income tax.
Cut in half if no income tax was paid but earned more than $3,000.
Possible additional amounts of around $300 per child.
If that bill passed in the proposed form, it would likely mean $1,800 for our household. Unfortunately, I don’t see running out and spending any of it. A windfall like that would go straight to our investments. We finished 2007 just shy of our goals, so giving our dollar plan a little boost would be my primary goal.
The intent of these checks are to get people to spend more money. I wonder how many savers there are out there that wouldn’t be using the checks.
What would you spend your check on if the bill passes?
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