Tax Rebates Versus Tax Bonuses

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How the government characterizes tax windfalls can have a major impact on whether or not people choose to spend them to stimulate the economy says Nicholas Epley behavioral scientist at the University of Chicago. 2007 Jupiter Images Corporation
How the government characterizes tax windfalls can have a major impact on whether or not people choose to spend them to stimulate the economy, says Nicholas Epley, behavioral scientist at the University of Chicago. © 2007 Jupiter Images Corporation

On Feb. 13, 2008, the president signed a $168 billion stimulus package designed to give $300, $600 or $1,200 checks to more than 100 million Americans. It was the second time in seven years that lawmakers agreed to return additional tax money in hopes that people would spend it to stimulate a sluggish economy. A key question: Will those receiving checks spend enough to have the desired effect?


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