Economic Stimulus

[wrobert]

Thanks, but not my idea. We, in the US, have brought more Chinese people out of poverty, than we have our very own Americans. While we are not spending, there are many people in China who are feeling the pinch.

Only one thing sounds uncontested, the checks are a big ef up of a problem, no matter how we slice it. Teaching people to spend more, when overspending got us here in the first place, is like handing out free crack to a crack addict in rehab, in hopes that all will work out in the end.

These fuel costs may have a very negative impact on China. I talked to a Walton County plastics manufacturer the other day who had just gotten a contract back that he lost to China last year, because now with shipping costs, he was again competitive.

 

[elgordoboy]

Very good.

 

[wrobert]

The new EITC information for the program that is already available.


The maximum earned income tax credit is $4,716 for taxpayers with two or more qualifying children, $2,853 for those with one child and $428 for people with no children. Last year?s maximums were $4,536, $2,747 and $412, respectively. Available to low and moderate income workers and working families, the EITC helps taxpayers whose incomes are below certain income thresholds, which in 2007 rise to $39,783 for those with two or more children, $35,241 for people with one child and $14,590 for those with no children. One in six taxpayers claim the EITC, which unlike most tax breaks, is refundable, meaning that people can get it even if they owe no tax and even if no tax is taken out of their paychecks.

 

[scooterbug44]

Monday, January 28, 2008
Economic Stimulus Package On Its Way

Congress agreed on an economic stimulus package that would give individual taxpayers a rebate of up to $600. What do you think?

Tom Nagle,
Systems Analyst
"Perfect. That should cover my moving costs to Toronto."

Julia Wilding,
Parole Officer
"I wish that once in a while, Congress would give me a tax rebate not to boost their economy, but because they love me."

Neville Head,
Dog Trainer
"I hope buying $600 worth of waffles helps the economy, because that's what I'm going to do."

 

[SHELLY]

The Senate says to Neville Head, "Hold the Waffles! We haven't voted."

WASHINGTON (Jan. 28) - Senate Democrats will move to add to a $150 billion economic stimulus package rebates for senior citizens living off Social Security and an extension of unemployment benefits, setting up a clash with the White House and House leaders who are pushing a narrower package.

As the House planned a vote Tuesday on a plan that would speed rebates of up to $600 to most income earners - more for couples and families with children - the Senate was planning to draft its own measure with the add-ons, said senior Senate aides in both parties, speaking on condition of anonymity because the package is not yet final.

The move was in defiance of admonitions from the Bush administration not to risk derailing the deal with changes, and it threatened to slow what was shaping up as an extraordinarily rapid trip through Congress for the stimulus measure.

Adding rebates for senior citizens living solely off Social Security checks - who are ineligible under the plan hatched by House leaders and the White House - would likely mean doling out smaller rebates overall, shrinking the size of the payments from $600 to $500, according to a senior Senate aide.

/

 

[Smiling JOe]

Even $500 checks will help people pump money back into the TV market. Great coincidence. Need economic stimulus, require that everyone have HDTV in order to watch TV. Next thing you know, the gov't will require us all to get iPods. Remember, everyone needs to buy a new HDTV before next year, even if the ten year old TV is working just fine. Sure, I know you can spend $100-$200 for a converter, and even get a gov't rebate on the purchase of a converter, but let's face it, I can buy a new small HDTV for under $300. I'm just wandering who is going to buy my old set, or what landfill is going to deal with collecting all of the old tv sets. Talk about adding unnecessary trash to the planet and really vamping up the unnecessary spending...Can we ship all of the old TV's to another country, which doesn't have TVs, and corrupt the people living there, or would they also need HDTVs?

 

[wrobert]

I'm just wandering who is going to buy my old set, or what landfill is going to deal with collecting all of the old tv sets. Talk about adding unnecessary trash to the planet and really vamping up the unnecessary spending...Can we ship all of the old TV's to another country, which doesn't have TVs, and corrupt the people living there, or would they also need HDTVs?

There are guys in Bonifay making money sending 300 MHZ computers to Ethiopia. Anything is possible.

 

[Smiling JOe]

Is it possible that I can bypass this HDTV requirement? I may have to throw my tv through the door at the Capital building. Is it also possible that I could avoid getting arrested for doing so?

 

[wrobert]

Is it possible that I can bypass this HDTV requirement? I may have to throw my tv through the door at the Capital building. Is it also possible that I could avoid getting arrested for doing so?

Point taken. But still someone will certainly be getting the precious metals out of these old televisions, and selling the rest for parts to someone unsuspecting soul.

The upside to all of this is we will finally have internet just about everywhere. At least everywhere that you use to be able to get a television signal.

 

[JUL]

: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.

Unless you are warren Buffett I think I saw where his receptionist pays a higher percent of her salary in taxes than he does