If I Promise to Spend it, Will Obama Send Me Stimulus Money?
Neither Obama nor Congress have any desire to send Mr. ToughMoneyLove any part of the gazillion dollar stimulus packages that are being discussed. No tax cut, no tax credit, no check in the mail, nada, none. No, the government wants me on the outside, looking in on the stimulus plan for two reasons: (1) I make too much money; and (2) I’m not broke. (I probably should qualify “I’m not broke” by adding “yet.” I’m afraid that after the government gets finished stimulating everyone but me, I will go broke through a combination of higher taxes and inflation destroying the value of the dollars we have stashed away in savings.)
In fact, the government should give its “stimulus” package a more accurate name. I suggest the “If You Don’t Spend it, We Will” package. That sure would scare me into spending. Let’s see …me or the government …… Tough choice.
The government surmises that broke people are the true spenders in our society so get them the stimulus money first. There is some logic to this because most people are broke because they refuse to save. (I am making a distinction between being “broke” and being “poor” or unemployed.)
So can I get on the stimulus money gift list if I promise to spend what I receive? Mrs. ToughMoneyLove and I know how to spend money. Yes, we are savers and have a nice income but we do buy stuff. I’m willing to buy more if the stuff is priced right. (Sorry Ford, GM, and Chrysler.) In fact, we probably spend a lot more money than many of the broke people. It’s just that we spend a much lower percentage of our income than do the broke people. Should we be penalized for that? I think not.
Let me suggest something else that the government is overlooking in excluding the savers from the stimulus booty. If I have more money, I may spend it by purchasing stock in companies that are doing a good job with their business. That rewards that company and generally drives the stock market upwards, helping millions of other investors and pensioners. I get to retire sooner, opening up a job for someone else. The Obama nation will be heroes. Everybody wins.
I have complained in the past about spenders receiving favorable treatment from the government compared to the savers. Would everyone who agrees with me please raise your hand? (Did you actually raise your hand? That’s kind of silly but thanks for playing along.) Now really show your support by leaving a comment.
Image credit: Billy Alexander