In the midst of the 2007 tax season, the federal government’s announcement Friday that it will issue large tax rebates to individuals and families as part of its plan to stimulate the lagging economy has many Columbia residents thinking differently about what they’ll do with their new money.
At the thought of receiving a $600 rebate check, Richard Raney, a recent MU master’s graduate, said, “I will do what every young, red-blooded American male will do: spend the money on video games and beer.”
Unlike Raney, though, many Columbia residents said they’ll more likely be saving their newfound money than spending it.
“I’ll spend a little of it, but I’m going to invest the majority in an account for my daughter and save for the future,” said Columbia resident Adam Spudich.
“I would have to put it in the bank right away, nothing fun,” said MU student Sarah Menefee.
Blake Wetzel, a new Columbia resident, said he plans to go see the Chicago Cubs play the Cardinals in St. Louis this summer, but that would be the extent of his spending.
“I’m going to put more than half in savings; that’s what the selfish part of me wants to do,” Wetzel said.
“I would save it for a while, said John Hankley of Hollywood Rebels Tattoo. “I may go to Six Flags.”
Not everyone is planning to be so frugal, though. Some Columbia residents have spending sprees planned.
“I’d love to take my kids back to Florida and get them some new clothes,” Stacie Ayers said. “But really give them a vacation they’ll never forget.”