I was reading this article from the Out of Ur blog that talked about the Economic Stimulus Checks that are scheduled to go out starting in May.

I guess some church will start preaching an ‘official Christian perspective’ on what is ‘God’s way’ for a ‘real Christian’ to spend that money. I guess some televangelist will come up with some ‘first fruit’ offering promising more money in return if you send them some of the money.

However, I need to remind you about something here. This ‘economic stimulus’ check is in essence a loan from the government.

Does anyone remember what happened the last time the government did an ‘economic stimulus’ package? I do. The tax forms that came out later that January had a line where the amount of the ‘economic stimulus’ was added back to your ‘taxable income’ after you had figured out your income and allowable deductions.

This is exactly what will happen in early 2009 when we fill out tax forms for tax year 2008. We will have to give it back.

Also from what some of my friends are telling me, the finance companies and bill collectors are already ‘pressuring’ their clients for more money or risk losing that house, car, etc. The retail industry will probably not benefit from this, the bill collectors, sub-prime mortgage collectors, etc will be the ones benefiting.

I would keep what money from this package I could because the taxman will have to be paid in early 2009.