Of course, it’s really not economic stimulus.  It’s government checks being called “tax rebates” but being sent mostly to people who paid little or nothing in taxes to begin with.

Best reaction to this news so far?  Kevin from the comments:

I hope they all spend it at Exxon stations I have shares in!

That’s my kind of Republican.  And they probably will, too, given the price of gas these days.  Which illustrates exactly why this is no economic stimulus at all.  It’s a one-time check.

If we want economic stimulus we should reduce the overall tax burden by cutting the rate of taxation.  But then, these government checks are more about buying the love of a disillusioned citizenry than economic stimulus.