Quote Originally Posted by daihashi
$1000 x 300 million population = $300,000,000,000. And people wonder why I was against the 1st and second Tax Rebates Bush sent out.

Yes.. 300 billion will effect the profits of oil companies to where it trickles down to the consumer. What you fail to realize is that a 401k is an investment, and while you may not lose $1k... you are still doing the opposite of what a 401k should do and that is build money/funds.

In addition even if yo ulose $100 from your 401k... that $100 had an oppurtunity to turn into Thousands or tens of thousands but now it will never have that chance since it's lost.

Sorry daihashi but your numbers are pretty skewed here. The rebate isn't going out to each and every single American, it's going out to the "middle class", however that's defined (probably $150,000 a year or less as he defines it). 300 million Americans include children and the homeless, both of which probably make up more than the working adults.

Now I'm completely pulling numbers out of my ass here, but for the sake of creating a ballpark figure:

300 million Americans.
lets say 250 million middle class as defined by Obama
divided by an average family size of, lets say, 6 people: 41.66 million x 1000
= $41.66 Billion
(again, ballpark figure)

Still a huge waste of money, and lets face it; Dems and Reps have become masters of waste.







Regarding the original thread; I've seen no evidence that big-oil taxation is actually paying for this $1000 rebate. Obama wants to put a profits-tax cap on the oil companies, he wants to institute a $1000 rebate; nowhere has he said that they're going to directly take $41.66 billion from oil companies and give it directly to the American people. Oil company taxation and the rebate are two separate issues. Just being new doesn't make the two initiaves linked. You could just as easily say the rebate is coming from income tax, property tax, or any other source that makes it's way into the government coffers.