This Stimulus Sponsored By….
Last week when the President and Congress announced a plan to stimulate the economy by giving citizens anywhere from $300 to $1200 in rebate checks, it drew hundreds of comments on major media outlets’ message boards. A number of people commented on the story on NewYorkTimes.com, MSNBC.com, and other outlets by suggesting that if the government really wanted people to put more money into the economy, handing out checks wasn’t the way to go. Their idea was much more creative, and could give some businesses an unimaginable opportunity to connect with customers.
The comments suggested handing out debit cards pre-loaded with the amounts being discussed, which would ensure that citizens didn’t just save the money or pay off credit card bills. My first thought when I read that was “wow, think of the branding opportunity for Visa, or for a company that sponsored the program.” I’m NOT SUGGESTING it would be a good idea for the Federal government to offer sponsorship of tax rebates, because that would create too many conflicts of interest to imagine. However, using debit cards instead of checks is something I’ve blogged about and written about before and I don’t think it should immediately be dismissed.
In response to my reaction, Liz Glagowski photoshopped a representation of what the debit cards could look like (seen at right). Judging by recent polls, more than 2/3 of Americans wouldn’t want something with “W’s” picture on it arriving at their doorstep, but it makes for an interesting conversation starter.
What do you think? If you were working for Visa, would you be on the phone with the Treasury Department exploring options? Do you think giving out debit cards instead of rebate checks would be a good idea, or would work? Share your thoughts below.
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Simply put, No.