25 January 2008

Thinking "Refund" Dollars

It looks like the federal government will give a tax "refund" - read: monetary gift - to all folks in May. It also looks like Democrats will win the battle of who will get the gift money: everybody, including people who do not pay income tax. Now, in the effort for full information, I didn't pay income tax last year. I honestly don't believe that I should get a "refund" check simply because of this. That being said, I'll not turn the gift money away, if for no other reason than I think I can do something better with the money than the federal government can.

And that's exactly what I've been thinking about overnight. What would be the best use of this gift o' the government? I don't want to get on a high horse or anything, but here are some quick ideas. Take them as you will.

- Pay off credit card debt. If someone is carrying any credit card debt, probably the best thing to do with "free" money is to pay off some of that debt. If the cards aren't run back up, this "free" money is a "get out of jail free" card. And I've got to think that something like $70 billion less in personal debt would be good for the national economy.

- Buy something made in the US. While it is expected that these "gifts" will be spent, it seems like common sense to spend the money in a way that benefits the country the most. If everyone spends his or her "refund" on something made overseas, then we might as well just mail checks overseas and avoid the middle man. Obviously, this will take a little work on the part of the consumer, but it's work for "free" money. It might take an hour or two. Seems like a fantastic return...$300 per hour.

We'll all have plenty of time to think about how to spend the dough before we get it. But while we're waiting, I've got one more question: Is it really the proper role of the government to manage the economy like this?


Chan said...

Answer to your last question. No. Stupid government. And what to buy? I recommend guns and ammo, though it may be difficult to buy American, with all those great furrin' guns and cheap furrin' ammo out there. Just my two cents.

Bob M. said...

Hadn't thought of getting a bit o' self defense. I wonder if I can talk my wife into a nice, new S&W 357 revolver. Not very "cool," but certainly serves the intended purpose.

chan said...

That's a good choice, especially if you aren't a super gun guy like me. Plus you can shoot .38 special out of it which hurts less in practice and may encourage the wife to have some fun. Plus it is a good American brand.