Another Cut

The Feds have cut $ rates another .5 yesterday. After two rate cuts in 8 or 9 days, the rate stands now at 3%.

This rate was last 3% in May 2005.

Now we wait to see the effect on the economy. We know the rebate checks which are still being considered in Congress will not be issued until late spring.

The effects of these rebates will not be known until August.

I guess we wait and see. And maybe that's the attitude the market will take as well. Wait and see.

There is much discussion that illegal aliens will also receive tax rebates. I still wonder how that is. If they are working here illegally, how are they making taxable wages which I understand is the trigger for the rebates. The rebates are meant for tax payers.

I do know if the illegals are working on W2s, they may already be getting illegal rebates in the form of earned income credit! The poor who work qualify for these credits - they are paid by the government through tax reporting.

'til later