Economic Stimulus

[beachmouse]

My check's going right back to the government. I'm still paying off a Department of Education loan from grad school, and that'll be a nice dent in the remaining balance.

 

[elgordoboy]

I pledge to give my $600 (should that be what it ultimately is) to someone who doesn't pay taxes and filed a tax return with more than $3000 in income. I choose who. It is an attempt at a stimulus not a reward. I would not spend it quickly (not stimulating) but a person in that other position more likely would.

 

[elgordoboy]

Exactly--we are making them richer, it goes full circle. Let invent/expand some businesses, like Huckabee said in the debates, that will give the GROWING huge Chinese middle class something to buy from us!

Yes

 

[Little Fish]

The stimlus package has several flaws IMHO.

One; how can you justify giving rebate checks to those who pay no tax? This essentially means they are rebating my tax payments to those who don't pay. Unfair at best.

Two; the stimulus package will come too late to have an effect on the economy. By the time checks are out, it will be clear the economy is already recovering. Another example of wasteful government spending.

Three; working couples begin getting phased out at $150K with no rebate to those making more than $175K. Meaning my wife and I won't receive a dime of our money back (which we would have put to good use in SoWal).

Now the good news....

One; allowing depreciation of 50% to businesses for new purchases of plants and equipment will work. Businesses, being motivated by profit will spend to expand, which leads to increased employment.

Two; raising the limits on loans that Fannie and Freddie can purchase to $725K (in some markets) should help to alleviate the current credit crisis and bring down the cost of jumbo mortgages. This could be big. If rates begin coming down due to Banks repricing risk, maybe more buyers would consider new purchases of homes.

Three, I was glad to hear they did not extend unemployment benefits or boost food stamps. This would have been a joke.

Little Fish

 

[Mango]

Thanks for the clarification on the amount of the checks. I thought the $300 was quite different from what I had heard earlier. It is interesting that people who work in the illegal cash trades, such as drug dealers, will be rewarded for not showing income. As for the students, I'm sure they can use the money, but they probably won't be using it to stimulate the economy. They will spend it on things which they were already required to purchase, like text books, beer and pizza. :funn:

Your welcome.

I don't agree with the rebate stimulus at all for anyone.

I wish I could endorse my economic stimulus check to:
"Lawyers Representing the People for the Impeachment of Bush, Cheney and Nancy Pelosi"​

Now there would be a good use of the money.

 

[Matt J]

I'm just wondering how much this $600 will cost my niece when she is my age?

 

[elgordoboy]

The stimlus package has several flaws IMHO.

One; how can you justify giving rebate checks to those who pay no tax? This essentially means they are rebating my tax payments to those who don't pay. Unfair at best.

Two; the stimulus package will come too late to have an effect on the economy. By the time checks are out, it will be clear the economy is already recovering. Another example of wasteful government spending.

Three; working couples begin getting phased out at $150K with no rebate to those making more than $175K. Meaning my wife and I won't receive a dime of our money back (which we would have put to good use in SoWal).

Now the good news....

One; allowing depreciation of 50% to businesses for new purchases of plants and equipment will work. Businesses, being motivated by profit will spend to expand, which leads to increased employment.

Two; raising the limits on loans that Fannie and Freddie can purchase to $725K (in some markets) should help to alleviate the current credit crisis and bring down the cost of jumbo mortgages. This could be big. If rates begin coming down due to Banks repricing risk, maybe more buyers would consider new purchases of homes.

Three, I was glad to hear they did not extend unemployment benefits or boost food stamps. This would have been a joke.

Little Fish

Rofl..Should I repledge my $600 to you and the wife? Lacking that $1200 I guess you'll have to cancel Christmas this year. Maybe you can scrape by on some of that other $175+/-. Meanwhile the woman with two kids that divorced an a-hole that developed abuse issues can eff off while looking for work to get her life together.

 

[hnooe]

Your welcome.

I don't agree with the rebate stimulus at all for anyone.

I wish I could endorse my economic stimulus check to:
"Lawyers Representing the People for the Impeachment of Bush, Cheney and Nancy Pelosi"​

Now there would be a good use of the money.

____________________________________________________

Yes. Where do I sign Mango.

 

[InletBchDweller]

Rofl..Should I repledge my $600 to you and the wife? Lacking that $1200 I guess you'll have to cancel Christmas this year. Maybe you can scrape by on some of that other $175+/-. Meanwhile the woman with two kids that divorced an a-hole that developed abuse issues can eff off while looking for work to get her life together.

:nono1: be nice. The more you make, the more you pay. Which in turn goes to help the poor woman who is trying to get her life together.

~~~~~~

I hope that the $$ will help some people. I just dont think that many of the people in poverty will use it in the best way.

 

[elgordoboy]

:nono1: be nice. The more you make, the more you pay. Which in turn goes to help the poor woman who is trying to get her life together.

~~~~~~

I hope that the $$ will help some people. I just dont think that many of the people in poverty will use it in the best way.

The intended way to use it is to literally "blow it"
I am very nice I offered my $ to Little Fish didn't I? I would have to renege on my previous pledge though..or dig up another $600 and do both. I just didn't like the "would be a joke" part of the post. I wonder how many people have personal knowledge of some of these programs they criticize. I know people who abuse the programs and I know people to whom the programs are truly needed and truly life saving. I wish the ones who abused the system could be weeded out but that would harm the good folks too. I also know someone who very much could have used the welfare/food stamps system but chose to eat beans and cornbread and the like for years..along with 5 kids.