Nancy, Harry and Barry want to send out Tax Rebate Check Part Deux. Good god does nobody in Washington have even the basics of economics down? Can someone please send an econ 101 book to each and everyone on of these baboons? This is the reasoning for the Democrat push to spend more of my increasingly worthless tax dollars:
July 15 (Bloomberg) -- Congressional Democrats are considering a second round of rebates to taxpayers, saying the benefits of the first checks sent to more than 100 million households this year are being eroded by rising energy prices.
So if I understand correctly Nancy, Harry and Barry want to send out checks because oil is expensive.
Those $1200 checks sent out are no different than if the government had printed $1200 in new
bills and sent it out instead. It was a bad idea. No I take that back, it was an awful idea. It's simple really. The more dollars that are printed, whether physically or electronically, the less each dollar is worth. Your basic economics lesson of supply and demand. Oil is priced in dollars. So the less the dollar is worth the more oil costs. The higher the price of oil, the more gas costs. The more gas costs the more everything costs since everything is shipped from point A to point B at some point in time. And the more everything costs the more wages workers demand to buy the products. And the more wages workers demand leads to companies having to raise prices on their products to afford to pay their workers the higher wages they demand to buy the more expensive products. And on and on it goes until you get to a vicious circle of hyperinflation. Not unlike was is happening today in Africa
Zimbabwe will soon run out of the paper it uses to print its increasingly worthless currency, thereby setting the stage for what the Los Angeles Times describes as "economic paralysis -- and potential collapse."So far in less than 6 months the government will have printed close to a trillion dollars in various stimulus and bailout schemes. That 1000 billion dollars. To put such a large number in the context where most Americans can understand...it's like more money than Hannah Montana has. Yeah dude, it's that much. $150B for stimulus 1. $150B coming for stimulus 2. $300B for the Countrywide Chris Dodd written bailout bill. $30B for the Bear Sterns bailout. $30-50B for the Fannie and Freddie bailout. And now another $150B for stimulus #2.
That's about the cost of Iraq give or take. Democrats scream about wasting money there. But they don't bat an eye when an equivalent amount is squandered here.
But why should I complain, I hear Best Buy is having a big sale and will give me an extra 10% if I cash my check there. Another plasma TV baby! Oh wait, never mind I'm too rich to qualify for the full stimulus and I have no kids. So I'll be lucky if I get a $50 check. But the illegal alien down the street who pays no taxes will get his full $1200 rebate along with his welfare check, his wife's WIC check, his low income housing assistance check and of course his free health care.
America. What a country, by which I mean what a joke.