Jim, When Will I Be Receiving The Money From The President's Tax Rebate That Was Announced Friday?

The President is proposing a tax rebate of $800 per person or $1,600 per household.  This is simply a proposal and will require congressional approval.  How long that will take, is anyone’s guess.  The rebate proposal is to include everyone that filed a tax return last year.  Any time the issue of taxes are involved things are never simple.  So, expect some fine print and conditions to be placed on who will be eligible to receive this money.  I think it would be unlikely that this money would be in your hands in less than 30 days, Uncle Sam doesn’t do anything very quickly.

Our new Fed Chairman, is a little slow on the draw.  Bernanke is way behind the curve on the economic slow down.  Look for major cuts in interest rates over the next 30 days as the Fed attempts to avert a dramatic economic slow down.  This tax rebate is really not going to do much.  Perhaps it will provide a temporary influx of spending in the economy, but $1,600 is not going to help someone losing their home to foreclosure.

I think this rebate proposal clearly signals that we are in a recession and things are likely to get worse over the coming months.  My advice to you is to build up your savings, stay out of debt, and keep a close eye on your investment account.  The stock market is poised for a meltdown. 

Agree or disagree, click on comments below.

My main website is www.ChristianMoney.com

James L. Paris