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In 2010, we could get a tax rebate that rivals the amount everyone got in last year’s rebate, which is good news for everyone. With a new president in Washington and the financial crisis leaving many people destitute, it reflects well on the new president to help out the common man and give him some help.

In the fall, you may be able to experience a new tax stimulus plan that will help taxpayers. The total amount returned to taxpayers could be about $800 for each person, which could add up to around $150 billion or more. Since the 2009 stimulus wasn’t quite enough to get the economy going again, sources say that next year’s rebate will help. It can be used to buy gas or even just save for an emergency. The IRS didn’t do so great the last time they distributed stimulus checks, as some people didn’t even get theirs due to computing errors.

Having another tax rebate looks ineffective to some. With the rising cost of living, it’s entirely possible that Americans won’t use it to stimulate the economy, but rather just save it and squander it. We’ve had a ton of people worrying about the advantages of an additional tax rebate. With the deficit being as high as it is already, there are many worries that we just don’t have the money to bail out everyone; however, it’s entirely possible that the tax rebates might come out of the banking bailout that is occurring.

President Obama, when he was campaigning, put forth a plan for tax rebates providing every American citizen with $1000 that would be used for consumer spending and giving the money they need to live. Oil companies would be more harshly taxed, providing the rebate income. Now that he is president, Obama has to put forth this plan and get it approved, so that the American economy can get the help it needs to survive; it’s a critical time for this nation, and a plan like this could help.

One major frustration that Americans feel is paying for others’ financial issues with their tax dollars, making them oppose tax rebates. What they need to be concerned about is all of the extreme military spending and financial bailouts to downed companies. No matter our national debt, we need to pay it back sometime, whether we’re ready or not. We may not be equipped for the task when the time comes. Our economy is in trouble, and has to be rescued before the damage gets too far, directly affecting people’s livelihoods. A tax rebate might just be the program that gets us on the correct path.

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