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In 2010, we might get a tax rebate that rivals the amount everyone got in last year’s rebate, which is fortunate news for everyone. With a new administration 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 will be able to see a new tax stimulus plan that will help taxpayers. The total amount returned to taxpayers could be around $800 for each person, which could add up to around $150 billion or more. Since the 2009 stimulus wasn’t really enough to get the economy going again, sources indicate that next year’s rebate will help. It can be used to purchase gas or even just save for an emergency. The IRS didn’t do so well the last time they sent out stimulus checks, as some people didn’t even get theirs due to computing errors.

Having another tax rebate seems dubious 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 lot of people concerned about the advantages of an additional tax rebate. With the debt being as high as it is already, there are many concerns 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 may be more strictly taxed, supplying 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 assistance 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 problems with their tax dollars, making them oppose tax rebates. What they have to be worried 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 prepared or not. We might not be up for the task when the time comes. Our economy is in crisis, and has to be rescued before the damage gets too far, directly affecting people’s futures. A tax rebate might just be the thing that gets us on the correct path.

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