Interesting, Alberta issues $400 cheques to every Albertan, now Bush and the Democrats appears to think this was a good idea. Alberta leads the way again!
You could get your tax rebate by May
Rebates for families, business tax cuts to boost the economy
WASHINGTON - With unprecedented speed and cooperation, Congress and the White House forged a deal Thursday to begin rushing tax rebates of $600 to $1,200 to most tax filers by spring, hoping they will spend the money just as quickly and jolt the ailing economy to life.
Rebates would be even higher for families with children.
Big difference. Alberta has no debt, is in a surplus position, and issuing the cheques caused inflation (We are at 4.7%, ROC 2.5%, recent Bank of Canada reduction will hurt Alberta). I asked about 100 people what they did with their $400 cheques, 95 out of the 100 spent them.
The US has massive debt, is now in a deficit position, and seeing as they are heading for a recession, if 95% of Americans spend their cheques like Albertans did, they just might stave off that recession, or at least make it shorter and less painful.
When King Ralph issued the cheques, our economy was booming, it added to the problem, but hey, thanks Ralph, I love my new big screen TV!
Hope it works for the US.
5 comments:
If you think about it- Harper was way ahead on the same kind of program. By slashing the GST by 2% he effectively put more than $ 12 billion back into the pockets of consumers. Adde thast to the tax cuts and the amount is significantly more.
Now, the US has about 10 times the population so by population Harper has added about the same economic stimulus to Canada - he just did it months and months sooner BEFORE there were big problems.
That's why they had the cuts in the October update instead of waiting.
Methinks that we are in pretty good hands with this not so new two year old conservative team don't you.
:) Come to think of it... Isn't Klein available? And Yanks have been advertising a vacancy...
Very true anon, who can guide our country through a maybe recession better, an economist or a social-guess? Everyone slammed the GST cuts (except me, I love tax cuts)but they are a very good tool for stopping a recession. And in his Christmas addresses, the PM was warning us about the economy, the lefties were laughing, talking about "fear mongering" and not being "positive", I hear no laughing now.
shlemazl, I loved Klein, he was a real, in your face politician. He was Alberta's redneck Premier, and I say that with pride, that's why the latte lefties didn't like him. He left us with no provincial debt, and money rolling in so fast we can't count it. The Yanks would do good to import him to fix up there problems.
I spent it on an Xbox 360.....along with a couple thousand other people Im sure....
big difference. bush can't afford it. klein could.
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