The Griffon News

  The announcement by congressional leaders about the proposed tax rebate has created mixed reactions from students and faculty here at Missouri Western.  Reza Hamzaee, professor of economics, didnít think fondly of this idea.    ”This is an irresponsible act in my opinion,” Hamzaee said.   Hamzaee compared it to having a headache and instead of taking one aspirin and waiting for results, taking the whole bottle hoping for a quick fix.   ”One more time they are bribing the voters,” Hamzaee said, recalling that the last rebate announcement was also in an election year.    Republicans want Americans to see them as the party that gives back to the people, whether the people need it or not.   ”Rebates should go to people that earn under $40,000 to $50,000,” Hamzaee said.    Hamzaee feels that he does not necessarily need the rebate, while those with a lower income would benefit from the extra money.   The U.S. Senate Finance Committee has proposed a $157 billion economic stimulus package that expands tax benefits already agreed by the House of Representatives and the White House.   In the original version of the package individuals making up to $75,000 and couples making up to $150,000 a year would qualify for the full rebate of $600 and $1,200, respectively, plus an additional $300 per child. Those who earn at least $3,000 but not enough to pay income taxes would receive $300.    The package passed by the US Senate Finance Committee would double the income ceiling to $150,000 for individuals and $300,000 for couples and would reduce the rebate amount to $500 for individuals and $1,000 for couples plus $300 per child in a family.    The new version of the package would also give the rebate to an additional 20 million people, including seniors and disabled veterans.      Jan Aspelund, director of human resources, believes people are over spending and have accumulated excessive credit card debt and a tax rebate will only hurt these people.  ”In order to keep the economy going we have to get farther in debt,” Aspelund said.   Lisa Robbins, professor of early childhood and special education, does not like the idea of a rebate.  ”ìI think it is a hoax. Theyíre not giving us anything that isnít already ours” Robbins said.    Robbins believes the rebate is just another way for the government to get more taxes because she will have to report the rebate as taxable income.   Melissa Eads, a tax preparer at H&R Block, agrees.    ìIf itís anything like the rebate of 2001, it will be taxable,î Eads said.   Not everyone thinks negatively about the rebate.   Ron Olinger, vice president of financial planning and administration, believes the rebate is a good thing.  ìAnytime you provide a financial stimulus to the economy it should have a positive impact,î Olinger said.  Most students are in favor of the extra money.   Sophomore Phyllis Moore, a nursing major, shared her thoughts on the rebate.    ìI think itís a cool gesture but I donít think it will affect the recession,î Moore said. ìI canít decide if Iíll save it for Christmas or use it to fix my Suburban.î  The purpose of the rebate is to boost the economy by giving Americans some money to spend back into the economy.    However, not everyone will spend it that way; some like Johnna Phillippe, a sophomore in business management, will use it to pay bills.  ìGood luck if it works the way they want it to, but I donít think it will help the nation,î Phillippe said.   For students who file taxes, if you made at least $3,000 in 2007 and file an income tax return, you should qualify for the rebate.    The stimulus package will cost an estimated $196 billion, increasing the national debt, which according to wikipedia.com is currently over $9 trillion.   According to Reza Hamzaee, that is more than the combined yearly income of every working American.