Tom Harkin - Man In Tights
Posted by Jeremie Jordan on February 2, 2008
First off let me say I am not exactly thrilled about the economic stimulus package being pushed through congress. However this is a Tom Harkin bashing post, so in depth, thoughtful analysis of legislation would severely clash with writing about Iowa’s liberal senator. I will not have my art compromised .
Iowa Senator Tom Harkin says he’ll oppose plans to send Americans $800 tax rebate checks, saying the money would be better spent elsewhere, like to bolster the Food Stamp program.
Harkin says: “I just think this idea of just giving rebates to everybody, just throwing money out there is just not the way to go. Maybe I’m a little more conservative than that — I don’t know if I should use that term. With the budget deficit we got, if we had a surplus, well, maybe that might be okay.”
Call me a callous, conservative bastard, but can you really give a rebate to someone when they’ve paid nothing in? Could I go to Best Buy and ask for a $200 rebate on a new HD TV if I never purchased the TV in the first place? Listen, I agree with Harkin in relation to the rebate, as I am not sure mortgaging our children’s future so Americans can buy a new surround sound system is the way to fix the economy. BUT, IF the government is going to start handing out money God forbid they hand some back to the taxpayers.
-Jeremie
February 2, 2008 at 3:40 pm
That quote neither patently nor latently uses describes more money for food stamps as a rebate. It’s welfare, and not even Tom Harkin calls it different.
The stimulus in 2001 was used for non-durable goods mostly. However, that period was also marked by market declines following 11 Sep. I don’t know if the economists controlled for that black swan event. It seems that rebate checks aren’t a bad method of stimulus, albeit temporary.
February 2, 2008 at 6:14 pm
I think that cash money spent in the economy is a reliable short term solution; however, I agree, Jordan, that congress has been “mortgaging our children’s future” for a long time now. Bush’s and Congress’ complete disregard for deficit spending continues to stimulate the Chinese economy (who continue to smartly up our credit limit all the time). This, however, is probably a good time for quick taxpayer cash infusion. Let’s hope whoever is president next will take the deficit seriously.
I plan to buy my dream guitar with my rebate check - a wine red Gibson Les Paul, studio model with trapezoidal block pearl fret inlay. AHHH YEAHHH!