How would you spend a tax rebate?by Tim Post, Minnesota Public Radio
St. Cloud, Minn. — President George Bush unveiled a $150 billion economic stimulus package Friday that he hopes will prop up the sagging economy. Pres. Bush wants Congress to move quickly on the effort. It includes tax cuts for families and incentives to encourage business investment.
One part of the package includes tax rebate checks. The President didn't offer specifics, but some say the checks could be up to $800 for individuals and $1,600 per household.
Minnesota Public Radio's Tim Post asked people at an indoor shopping center in St. Cloud, Minn., what they'll do if that check appears in their mailbox.
Java Karbaday, St. Cloud, Minn.
Question: What would you do if you received one of these tax rebate checks?
"I've been listening to the radio, and I've been listening to the news, so the best thing right now is, if you were to spend the money given to you from this tax refund, you would spend it on American based products. That's what I would do, if I got extra money, which I would be happy for, I would spend it on American based products rather than foreign based products.
Question: Anything particular in mind?
"I could use a new car. Maybe I could use that as a down payment for car,"
Judy Scott, St. Cloud, Minn.
"I'd probably do some traveling. We like to travel a lot and we seem to manage to do that. Either that or we're talking about doing some remodeling on our house so that would be an option as well,"
Roberta, Clearwater Minn.
"I'd probably put it in our new daughter's savings account. She's three months old so we're trying to put away money every month for her college because I'm sure prices will be outrageous,"
Jeff Lund, Minneapolis, Minn.
"I'd probably just put it in the bank. I don't think I'd spend it on anything that I didn't anticipate buying in the first place. I think the necessity is to help people who are in need right now because there are a lot of people who are suffering,"
Carol Bean, St. Cloud Minn.
"I'd pay my bills. We're getting behind. With gas prices as high as they are and everything else is going up, you do get behind,"
Jane Rico, St. Cloud, Minn.
Question: If you got one of these checks in the mail, what would you do?
"I think I'd take a vacation. That would be my choice."
Question: Part of this plan would be to get people to spend money and give a little boost to the economy. Do you think it might help?
"That's a good question I'm not sure it would help or not. I think people are still spending money either way. Whether they get extra money or they go in debt to spend money. That's the economy we live in, that's the mentality we live with, you spend what you don't have. We're not savers in this country,"
Question: You would spend it on a vacation another option would be to put it in the bank?
"Save it! Save it, yes. See I'm just like the rest of them. I'm going to spend it,"
- All Things Considered, 01/18/2008, 5:24 p.m.