Economic Stimulus

[Smiling JOe]

Economic Stimulus? What are your thoughts? I've heard no one mention that they thought the current package working.

I have many thoughts on the subject, but the most simple thought of it is the following. People have overspent, and that has put us where we are now. Now, the gov't wants to give us a few hundred dollars so that we will spend more, but that overspending is what got us here in the first place. So, they are encouraging us to do more of the same in order to change something, and we know where that will go. From what I'm hearing, most people will be using the $300 to put in the bank or make an additional payment to their credit card. I have heard no one saying that they are going to buy a new tv, cell phone, iPod, etc.

 

[scooterbug44]

I think the "stimulus package" will be as effective as the fiscal policies that created the need for a stimulus package.

Election year bribe/distraction IMO!

 

[Pumpkin-22]

Throwing us a bone.

"It's money that matters."-Randy Newman

 

[Mango]

It's $300 for individuals who do NOT pay taxes SJ as long as their income tax filed is at least $3K. Then it's $600 per individual, $1200 couple and for those with kids an additional $300 per child with no limit on the amount of children.

I agree with the manufacturing tax breaks portion of the stimulus plan, but the rebates do not make sense to me and are not fair. Why should people get rebates who don't pay any taxes? Chances are they are hiding money under the mattress or already collecting from the coffers. It should have been limited to college students who file returns, but aren't paying taxes.
We need educated students. That money helps pay for books etc.

To boot, they didn't approve the extension of unemployment benefits or the food stamp program. All these people out of work now. Don't know why they couldn't use the rebate money for that instead.



http://www.chicagotribune.com/business/chi-fri_stimulusjan25,1,2937883.story

 

[seaside2]

Listening to NPR this morning, and someone said something like, "We'll borrow the money from the Chinese and then buy something they make."

I think this whole thing is stupid and a BIG waste of money we (The govt) does not have.

Let the thing take it's course.

 

[Smiling JOe]

It's $300 for individuals who do NOT pay taxes SJ as long as their income tax filed is at least $3K. Then it's $600 per individual, $1200 couple and for those with kids an additional $300 per child with no limit on the amount of children.

I agree with the manufacturing tax breaks portion of the stimulus plan, but the rebates do not make sense to me and are not fair. Why should people get rebates who don't pay any taxes? Chances are they are hiding money under the mattress or already collecting from the coffers. It should have been limited to college students who file returns, but aren't paying taxes.
We need educated students. That money helps pay for books etc.

To boot, they didn't approve the extension of unemployment benefits or the food stamp program. All these people out of work now. Don't know why they couldn't use the rebate money for that instead.



http://www.chicagotribune.com/business/chi-fri_stimulusjan25,1,2937883.story

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:

 

[seaside2]

Lil Seaside is working on he PhD and the money will ceratinly come in handy to buy books (somehow the pizza and beer come out of my pocket).

I think that for those that are serious students, it will be used for semi-useful things like books.

BUT, the whole idea is a politically motivated waste of $ we simply do not have to waste. IMHO, the vast majority of the money will go overseas to pay for stuff no one really needs.

 

[scooterbug44]

Yep, if I get a big "free" check I'll just buy a pair of shoes and a couple drinks and bank the rest for the hard economic times ahead.

Maybe instead of cash we should give out special credit cards that can only be used to buy goods or services in the US.

 

[SHELLY]

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:

Don't count the check amount before the Senate hatches its own twist on the "rebates."

"No problems in the US Economy to see here folks, just keep moving along." :roll:


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[hnooe]

Listening to NPR this morning, and someone said something like, "We'll borrow the money from the Chinese and then buy something they make."

I think this whole thing is stupid and a BIG waste of money we (The govt) does not have.

Let the thing take it's course.

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!