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Who Benefitted From the Economic Stimulus Plan?

June 30, 2008 · 6 comments

Who really benefitted from the economic stimulus plan?

Tax professionals for sure.

H&R Block, the nation’s largest tax preparer service, reported a banner quarter. The company prepared taxes for over 23.5 million clients – due largely to the rush for rebate checks.

This means that H&R Block posted a profit this quarter, which was good news for investors. Profits from the company were up more than $625 million for the same period last year.

So, at least someone is happy about the stimulus plan…

(Hat Tip: Talk Stock Trading)

{ 4 comments… read them below or add one }

1 Miranda June 30, 2008 at 9:32 pm

Retailers also got a little boost this month. Don’t know if it will make them profitable, but consumer confidence went up a little, and that usually means more retail spending.

2 Rick July 1, 2008 at 12:13 pm

Block did estimate that only 290,000 used their services in order to obtain the ESP. I work for them in tax season so I get a little more news about them. The corp changes are said to be more of the reason they returned to the black this year after sheding the mess ups of their former CEO.

3 Gerald F. Witte July 1, 2008 at 7:47 pm

We receiced a $600.00 Stimlus bank deposit. We filed joint return.
Our SS # ends in1332 my wifes ends in 57. They should have paid $1200.00 for both of us.

4 ricky warren July 1, 2008 at 8:49 pm

that stimulus check did little to offset the cost of food gas and other goods,with diesel at or above 4.80 and gas at $4 a gallon if u r poor u r screwed.its really a way for goverment to control where and how well the poor can live.Its all a republican conspiracy and a plan to keep the rich rich,the stimulus was just to make us think different

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