http://www.suntimes.com/business/759177,CST-NWS-econ25.article
First I've heard about it.....what's the catch?
First I've heard about it.....what's the catch?
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Tax Rebate?
- Thread starter Rasczak
- Start date
They've only been talking about it in the news all week.
They did the same thing a few years ago. Basically, everyone got a $300 check in the mail.Brett
I don't watch TV, 'cept for the snippets from CNN that are broadcast around campus. Hadn't seen it yet.They've only been talking about it in the news all week.
Brett
So the sole purpose of this is to boost the economy? That's what I'm getting from the article...but I just don't see how it's gonna make that big of an effect. So everyone goes out and pumps cash into the economy for a few months...then what?
Supposedly 600 if you're single, 1200 for married couples. You have to have earned less than 75K or 150K respectively, and it's your civic duty to go out and spend it on useless crap. Nothing responsible like saving it or paying bills, that wouldn't "stimulate the economy" like it's intended to do.
I think its a knee-jerk "something is better than nothing" reaction. Like you guys said 2-3 months tops. Until people stop spending money they don't have, there is only one way for the economy to go ...
Thats a shit load of money to give to all those people - who the hell is paying for it? (rhetorical question there ...) To everyone who worked hard this past year and happened to be above that 75k/150k, here is more incentive NOT to work hard next year.
EDIT - more to add. I know a lot of us JOs will get a piece of that. Lets try to spend it somewhere constructive. I plan on paying some on bills and putting the rest away.
Thats a shit load of money to give to all those people - who the hell is paying for it? (rhetorical question there ...) To everyone who worked hard this past year and happened to be above that 75k/150k, here is more incentive NOT to work hard next year.
EDIT - more to add. I know a lot of us JOs will get a piece of that. Lets try to spend it somewhere constructive. I plan on paying some on bills and putting the rest away.
"wah, wah, wah, the government's giving me my money back... here mr. government sir, keep my money..."
OKAY, if you want the real reason, here's the deal... take the money, take your misses out to dinner, get her somethin' nice, and when we invade Iran just don't make any waves...
OKAY, if you want the real reason, here's the deal... take the money, take your misses out to dinner, get her somethin' nice, and when we invade Iran just don't make any waves...
From an economics standpoint, it is a sound solution at least in theory. As with everything else, the devil is in the details, so whether the administration's approach is the right one, remains to be seen. It really doesn't matter if people spend it on goods, paying down debt, or saving/investing. The end result is the same - cash into the economy.
Brett
GroundPounder
Well-Known Member
How strange it is that Dems on the one hand say that this is a good idea, and on the other say that that we are not taxed enough. For those of us who actually pay taxes this is a small return of what was already ours. For those who paid no taxes it is another hand out.
In my current line of work I get to see people everyday that have never lived in anything other than government housing, eat food purchased by food stamps, and ride an ambulance to the ER for what you or I would probably take an alka seltzer to treat.
Like the bumper sticker says: " Work harder there are millions on welfare counting on you. "
In my current line of work I get to see people everyday that have never lived in anything other than government housing, eat food purchased by food stamps, and ride an ambulance to the ER for what you or I would probably take an alka seltzer to treat.
Like the bumper sticker says: " Work harder there are millions on welfare counting on you. "
It's 600 bucks man, not a 7 digit inheritance.
Not that I'm complaining, and I'm sure Best Buy will be glad to get the Fester Family's $1200, but trying to influence the US economy by sending everyone a check sort of strikes me as something from the "smack the dinosaur on the ass and hope he moves where you want him to" school of economics.
phrogpilot73
Well-Known Member
Yesterday, I heard a pundit on the radio that said the most ridiculous thing. He said "Why are we giving them money they didn't earn?" Umm, yeah - I did. $600 is like one payday's worth of federal taxes. The gubment still owes me 23 more...
Well, I can tell you that lots of us are going to pay things off. They can't tell us what to spend it on.
I sure hope that we won't be taxed on it for 2008 tax return as income!