Tax Rebate Incentive Package, Worthless
Well, the government’s attempt to stimulate the economy seems to be a worthless endeavor and a recession seems to be inevitable. With rebate checks already in the bank for many of those tax payers who filed electronically much of the anticipated cash will be going to other things than toys and games.
With the rising prices of necessary items such as fuel and food you can bet that many Americans will be spending their $600 on thing other than items that will actually stimulate the economy. There are just some things that are more important than a new Plasma or LCD TV, like gas to get to work and food for the family!
The average price for a gallon of gas is now over $3.50 per gallon and food prices have increased on the average of about 5% this year. Personally our fuel bill has increased about $25 to $30 per month already and our grocery bill has increased another $30 – $40 per month over the past year. Might not sound like a whole lot but it adds up quick and there is no relief in sight. Two days ago I put $70 worth of gas in our mini-van, talk about a budget buster!!!
Most oil companies reported record high profits this quarter including Exxon Mobile who posted it’s highest profit ever of 40.6 BILLION dollars! What’s wrong with this picture? Our government can’t figure out what’s wrong with the economy or can’t figure out a way to fix it, but oil companies keep making billion dollar profits each year.
There needs to be some type of regulations set on oil prices. It’s pretty obvious to me that if fuel prices drop then the price of food will follow. If fuel prices are lower and food prices are lower then Americans will have more money to spend on other things in turn boosting our economy.