Tax rebates!

http://www.cnn.com/2008/POLITICS/01/24/economic.stimulus/index.html

+$300 for me!

By the time the checks arrive (around June), the recession may already be over. But the idea of economic stimulus itself may stimulate the economy.

However, I'm not about to turn down money, even if I don't agree with the reason!

What does everyone think?

NB: This hasn't passed the House or Senate yet, but is an agreement between Democratic and Republican leaders. In other words, it most likely will pass in some form or another.

the actual money is a drop in the bucket and won't in and of itself stimulate the economy. the thought of the money, and the possible additional spending it may incite could help, but i'd imagine that it's likely that the number of people who will run right out to bestbuy or wherever will we less than or equal to the number of people who will sock it away or pay down debt.

but at least the suits who pass it can say "hey! i voted "yes" on that great stimulus package! keep me in congress!"

It did not help last time, I don't see it helping this time.

yemilipede said:

this recession has to just be ridden out. We cant escape it, its just the effect of our excesses in the US.

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it's as much about the governemt overprinting money as it is any excesses.

I saw that, pretty sweet in my book. I filed my federal taxes last week. I should see that check in a few days.
It'd be nice spend the $600 but it'd be nicer in my account.

I am a die hard saver so when something like this comes around it may get spent. However i don't know how much it will do to turn the economy back around. I think we are just going to have to ride this one out.

It is a big concern to me because i work for an NPO and when the economy is down so are donations and funding.

yemilipede said:

this recession has to just be ridden out. We cant escape it, its just the effect of our excesses in the US.

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ditto

i did not read the article first. it has not been approved yet.

rman said:

It did not help last time, I don't see it helping this time.

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Exactly.

I am not about to turn down or refuse the money, if they want to give it then by all means go ahead... I'll take it.
However, $300 is hardly enough to "stimulate the economy" when it comes to the majority of this nation. $300... if I spent it on nothing else... would buy gas for my vehicle for maybe 1.5 to 2 months. It isn't going to "stimulate" a thing or make me suddenly go out and spend more.

If they gave a rebate of say $1000 or more (they sure take a lot more than that from my annual pay each year), that might actually begin to make a tiny bit of difference.

eric said:

but at least the suits who pass it can say "hey! i voted "yes" on that great stimulus package! keep me in congress!"

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And this is the main reason it is being done. So it would appear that the powers that be actually seemed to do something or care about it. The reality of the situation is that it won't make a bit of difference.

wonder what magic money tree they are pulling this "rebate" from? our deficit and national debt is record breaking enough already, so lets give away MORE money that the nation doesn't have and cannot afford......................morons.

I thought it was 600 a person and 1200 for couples....

mac747 said:

I thought it was 600 a person and 1200 for couples....

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Yea, that's what it said on Yahoo.

it depends on where you read it on yahoo and cnn it is 600 and 1200. msnbc is reporting that it is at least 300 and up 1200.

mac747 said:

I thought it was 600 a person and 1200 for couples....

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It is.

It is $300 for me because I don't pay an income tax (too young/don't earn enough). Check out the article.

WOOHOO, Hopefully a new IMac will be out by then. Gonna replace my PC once that happens. Until then I use my MBP, havent even touched my PC since I got it lol.

Gotta love the fact that the package is expected to cost $100 billion for a potential $20 billion market investment...

Nice. So my wife, 2 kids and I could be getting $1800.

Let's also remember that when you file your taxes next year, that money will be subtracted from your refund just like last time. Nothing for me to get excited about really.

edit: I need to correct myself. It seems it's an outright pay. (I misread)

http://www.baltimoresun.com/news/nation/bal-te.stimulus25jan25,0,777429.story

when will people realize that borrowing up our defecit and just printing money to ruin the dollar even more doesn't work!

ugh

skye said:

when will people realize that borrowing up our defecit and just printing money to ruin the dollar even more doesn't work!

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But letting our economy slide into a recession is even worse.

The Federal Reserve is working with the government on this. They will take measures to control inflation. It really isn't anything to worry about. They will probably start pulling money out of other segments of the economy to offset it.

The fact is, our government does not just print money as they please. It is a very controlled and very scientific process based on a huge number of indicators.