DaleJ
Well-Known Member
How will you use your "refund?"
Alleged Economic Stimulus/Refund
- Thread starter DaleJ
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What are you talking about?
Lil' Sparky
Cowboys EAC
If that thing comes through, I'll be stimulating my enjoyment economy with a 46" HDTV purchase. :rockin:
Lil' Sparky
Cowboys EAC
I'm no economics major, but that seems like a stupid idea. We're spending like there's no tomorrow, and now we want to give a little back? Keep it, and lower taxes next year if there's so much excess to spread around.
SuperiorBrew
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U.S. taxpayers would get checks of several hundred dollars from the federal government under a plan to stimulate the economy, congressional and Bush administration officials said Thursday.
"Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around."
Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.
People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple.
A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.
Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal.
"Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around."
Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.
People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple.
A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.
Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal.
mine is going straight to my credit card. between my tax return, the refund and my bonus i will be out of debt in just a few short months. can't wait.
it is stupid, tho. spend 170 billion to bolster the economy, increasing the deficit? how does that make sense?
you know what pisses me off more, tho? right after i saw a snip about this, i saw a commercial that offered pre-paid credit cards for your tax return...WTF!? are people dumb enough to just spend their money like that? do they think it wasn't their money to begin with?
invest, people! buy something of value. pay off a credit card, put a kid through college, ARGH!
sorry, i have to work late and i'm frustrated
it is stupid, tho. spend 170 billion to bolster the economy, increasing the deficit? how does that make sense?
you know what pisses me off more, tho? right after i saw a snip about this, i saw a commercial that offered pre-paid credit cards for your tax return...WTF!? are people dumb enough to just spend their money like that? do they think it wasn't their money to begin with?
invest, people! buy something of value. pay off a credit card, put a kid through college, ARGH!
sorry, i have to work late and i'm frustrated
shafferpilot
Well-Known Member
Ah, there's no better way to buy votes than by giving us our own money and calling it something flashy. Man those politicians really do think we are all a bunch of complete idiots, don't they...... Unfortunately, I'm begining to believe that they are, for the most part, correct.
Lil' Sparky
Cowboys EAC
Huh, you mean it's not their money? This isn't a gesture of generosity? I don't get it!shafferpilot said:
OP: there's no poll choice for "I'm not eligible"
Well, it's a half-stupid idea...I think (but am too lazy to go searching right now) that there have been studies that show a dollar in the private sector generates more economic actvity than a dollar in the government's hands. So as a stimulus, it at least makes short-term sense.
Now if they had found a matching $170B of useless pork to whack from the budget to actually PAY for it, it might not be so bad.
And, of course, a lot of folks will just end up using it to reduce debt, which won't do anything for the economy.
As it is, it's like you or me taking an 18% cash advance on a credit card to buy a 4% CD.
Yuri_Rage said:
Well, it's a half-stupid idea...I think (but am too lazy to go searching right now) that there have been studies that show a dollar in the private sector generates more economic actvity than a dollar in the government's hands. So as a stimulus, it at least makes short-term sense.
Now if they had found a matching $170B of useless pork to whack from the budget to actually PAY for it, it might not be so bad.
And, of course, a lot of folks will just end up using it to reduce debt, which won't do anything for the economy.
As it is, it's like you or me taking an 18% cash advance on a credit card to buy a 4% CD.
Judd
Well-Known Member
In Canada, we don't get a 'refund'. Except for Alberta.
OP
OP
DaleJ
Well-Known Member
Bike N Brew said:OP: there's no poll choice for "I'm not eligible"
Yea, I didn't put "Invest/save" on there. As someone alluded to, that's just Un-American :cross:
But, I did forget to include a choice for:
I don't get no frelling refund.
I also find this timing of this whole thing humorous. Bipartisan cooperation to give people money on the "eve" of the presidential elections.
The problem I see, is lots of people will use it to buy a bunch of crap made in China. Whose economy are we looking to stimulate?
There is a good chance I'll donate my check to charity. That's what we did with the last time we got an "economic stimulus" bonus check. Or as we referred to it, here's $600 - vote for me.
There is a good chance I'll donate my check to charity. That's what we did with the last time we got an "economic stimulus" bonus check. Or as we referred to it, here's $600 - vote for me.
Mutilated1
Beer Drenched Executioner
Bike N Brew said:
Good point. And what do you want to bet they go ahead and attach some useless pork, maybe a pay raise for themselves before they're done with it ?
Beerthoven
Well-Known Member
Call it what you will, but I'm looking forward to an additional $1800 or so that I wouldn't have had otherwise.
I'm definately buying some new brewware, and I won't think twice about it :rockin:
I'm definately buying some new brewware, and I won't think twice about it :rockin:
I'll take the money. We can argue about the politics and whether or not it really works until we all pass out, but if it passes and you qualify you'll get the money whether you want it or not. (If not, PM me for my mailing address-I'll be happy to relieve you of the money and any reservations you have about it.)
Personally, I'd like to thank Uncle Sam.
Personally, I'd like to thank Uncle Sam.
rdwj
Well-Known Member
I bought a pool table.
VermVerm
Well-Known Member
I would diversify your money from this. If anything the government has taught us it is to get out of debt before your debt destroys you. We have real problems coming with the whole baby boom Soc. Sec./Medicare issues. I am 32 and will be paying for that generation to stay healthy enough to golf and get old and grumpy(no offense meant boomers). I am overall impressed with what the baby boomers have done, but the 80 Trillion dollars they have left for their kids and grandkids over the next 20 years is going to cause issues for a very long time. I would put your money in emerging markets with lots of new people coming into middle class. Buy some mutual funds, pay off debt, buy beer stuff, buy foreign currency.
I don't think this is "buying votes". Oh I am cynical enough to believe that is possible. I watched Ben Bernake beg congress to do something and do it fast last week. He was not joking around, the big bet is that there has to be an increase in the size of the economy over the next 5-10 years so that we can pay for our debts. Meaning, there is no room to allow the economy to shrink. There are only so many things they can do, Bernake lowered rates .75% which is huge and probably another .5%. This is to get the banks back lending and to create some opportunity for refinance of some of the stupid loans the people have taken out on their homes in the past 10 years. Congress can keep taxes low. All of these seem to be happening. The only thing that pisses me off is that the government still spends more than we have. They are spending the money that I will make in 2030 right now and letting interest grow on the debt. Do all of the above, balance the budget(heck a surplus would be nice) and maybe we will avert a recession/possible depression.
I mean cheers everyone...I did made a nice Amber yesterday.
I don't think this is "buying votes". Oh I am cynical enough to believe that is possible. I watched Ben Bernake beg congress to do something and do it fast last week. He was not joking around, the big bet is that there has to be an increase in the size of the economy over the next 5-10 years so that we can pay for our debts. Meaning, there is no room to allow the economy to shrink. There are only so many things they can do, Bernake lowered rates .75% which is huge and probably another .5%. This is to get the banks back lending and to create some opportunity for refinance of some of the stupid loans the people have taken out on their homes in the past 10 years. Congress can keep taxes low. All of these seem to be happening. The only thing that pisses me off is that the government still spends more than we have. They are spending the money that I will make in 2030 right now and letting interest grow on the debt. Do all of the above, balance the budget(heck a surplus would be nice) and maybe we will avert a recession/possible depression.
I mean cheers everyone...I did made a nice Amber yesterday.
I don't pretend to understand the tax codes, but if I remember correctly the $600 "refund" we got a couple of years ago was simply an early refund of our tax money, which we reported on our 1040 the following year, and it was subtracted off.
I've seen nothing at all that guarantees that this isn't more of the same. Before I spend any of that money, I need to be certain that it really is mine, and not going back to the government next March when I file my taxes.
I've seen nothing at all that guarantees that this isn't more of the same. Before I spend any of that money, I need to be certain that it really is mine, and not going back to the government next March when I file my taxes.
My "rebate" will be going right back to the IRS. This is the second year in a row that my wife and I have to cut a big check to send to uncle sam . Oh well, atleast we earned a little interest with the money before we have to send it off on 4/15.
. Oh well, atleast we earned a little interest with the money before we have to send it off on 4/15.
beergears
Well-Known Member
I think Yooper is on the right track here...
We are getting stimulated with a few dollars (on loan).. and then it is unclear on who's gonna be on top
We are getting stimulated with a few dollars (on loan).. and then it is unclear on who's gonna be on top
BuffaloSabresBrewer
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Regardless of your thoughts of economic theory(at least to me its theory)... THAT IS EXACTLY THE IDEA!!!!McKBrew said:
This does come from a poor ass college student whom $600 will make quite a difference to. Ill thank the government for the co2 tank and regulator regardless of whose money it was originally.
BuffaloSabresBrewer
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Count me in also. Of any of you feel guilty about this money or just dont think it makes sense PM for my email address and Ill fix that for you.
Maybe they'll just print the money to pay for it because it seems like this money is coming from nowhere. The govt sure as **** doesn't have it, so they must just be going to the printing presses every time they need something anymore.
ohiobrewtus
Well-Known Member
I'll be spending it on hookers and smack - just like last time.
Seriously, we don't know what we're going to do with it. SWMBO does want some new boobs though, and some money from Uncle Sam would help the cause. :rockin:
Seriously, we don't know what we're going to do with it. SWMBO does want some new boobs though, and some money from Uncle Sam would help the cause. :rockin:
Fish
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What I just don't get is what is $600-$1200 really supposed to do? If we are having financial problems they can't be that bad if $600 will fix it.
If $600 more per person is what it will take to make the economy work well maybe we are doing something very wrong.
If $600 more per person is what it will take to make the economy work well maybe we are doing something very wrong.
I'll send you $10.00.ohiobrewtus said:
It'll cost you some "after" pictures though...
Kaiser
Well-Known Member
This is certainly not turning my spending habbits around. I think it would be better spend on construction projects (roads and bridges) which will create jobs and stimulate the economy this way.
Kai
Kai
mysterio
Well-Known Member
It's your money - they're just taking less of it.
The effect of tax cuts, in general, is thought to be two pronged: on the supply side it acts as an incentive to work more (as you're being allowed to keep more of your own money), so the idea is you will supply more labour and expand the aggregate supply of goods and services. It also boosts aggregate demand (national income) by raising the amount of disposible income you have. Assuming a closed economy, you'll be spending it in the US and creating jobs as a result.
History shows fiscal stimulus tends to work. The Bush cuts in 2001 & 2003 sped up the recovery from the 2001 recession. Growth in real GDP was high and unemployment low thereafter. The same happened with the Kennedy cuts in 1964.
Kaiser said:
Like the $400 Million bridge to the island with a population of 50?
http://www.cnn.com/2007/US/09/22/alaska.bridge.ap/
Dextersmom
Well-Known Member
i'll take my 600 bucks but for the record i think its a bad idea....the economy is slowing due mostly to the ever increasing cost of gas and oil. People aren't traveling as much, going on vacation, or treating themselves to other shopping luxuries that in the past "stimulated" our economy. Even milk and corn prices are going up. Corn because thats a huge ingredient in ethanol if i'm not hugely mistaken.
Don't give us money i say....put some renewed effort into stopping this war, and coming up with a non-violent solution to our energy situation.
(all IMO)
Don't give us money i say....put some renewed effort into stopping this war, and coming up with a non-violent solution to our energy situation.
(all IMO)
Skunkyhops
Well-Known Member
z987k said:
this site lays it out a lot better than wiki. IMO it wasnt just spelling mistakes that makes the 16th not legally ratified. This info is a very interesting read, check it out.http://www.givemeliberty.org/features/taxes/notratified.htm
Some people have won court cases dealing with not paying their taxes. Wesley Snipes is a part of one the radical groups and if i remember right he hasnt paid taxes since like 97' and hes in court rigth now
Desert_Sky
Since 1998
I would like to buy two 14 gallon conicals and find a used fridge for them for fermentation
Surly
Well-Known Member
I am 57 years old. I retired from modest middle income jobs.
My first born is college educated.
My seccond is a first year student and I have saved enough money to complete her education.
I own my home with no primary or secondary mortgage.
My wife and I drive cars that are paid for.
We have no credit card debt.
And now, the President wants to borrow money from China to give to me? OK, I have not gotten to this point in life by simply spending money whenever a few bucks dropped my way.
No, I will take the money and set some aside. But there is no way I am going to mindllessly spend money on stuff made overseas. If he wants to fuel this economy take the $150B and invest it in renewable energy sources.
My first born is college educated.
My seccond is a first year student and I have saved enough money to complete her education.
I own my home with no primary or secondary mortgage.
My wife and I drive cars that are paid for.
We have no credit card debt.
And now, the President wants to borrow money from China to give to me? OK, I have not gotten to this point in life by simply spending money whenever a few bucks dropped my way.
No, I will take the money and set some aside. But there is no way I am going to mindllessly spend money on stuff made overseas. If he wants to fuel this economy take the $150B and invest it in renewable energy sources.
APendejo
Well-Known Member
Uncle Sugar wants to give you back a bit of what he has been stealing from you and you still complain. I find 1200 bucks in my mailbox w/ no strings attached i'm gonna keep it, spend it,whatever. No amount of voteing, complaining, debating or bitzching is gonna change what those self serving lumps in DC do.
Enjoy your "free" money.
AP
Enjoy your "free" money.
AP
PseudoChef
Well-Known Member
I owe $1000. Screw that.
kaptain_karma
Well-Known Member
At my income level, free money is free money. I'm tossin' that dough in the bank until I have enough money saved to move somewhere else and do something else.
edit-- I don't know much about macro-ecomonics, but giving away free money while we can barely support an out of control defense budget doesn't seem productive. Maybe if we didn't dick over so many sovereign nations, we wouldn't have to spend so much money later on bombs to drop on them.
edit-- I don't know much about macro-ecomonics, but giving away free money while we can barely support an out of control defense budget doesn't seem productive. Maybe if we didn't dick over so many sovereign nations, we wouldn't have to spend so much money later on bombs to drop on them.
