Tax rebates deal announced

reply to post by C0le


I realize not all those items are paid with federal taxes, but they are certainly paid for by state/local government taxes. Which we all still pay. But your right, I should have probably made that clear.

However, the overwhelming majority of infrastructure - while maintained by state and local governments - was constructed during a period of largess in grants from the federal government. In fact, many of these infrastructure systems are paid for still today with federal grants. This is especially true in rural areas and for things like water and sewer systems.

The "largest" items I mentioned in real dollars was of course US military expenses and SSDI. Which are, of course, provided by the federal government. The rest of it is provided by local government, with a majority of that being funded by federal grants. That is changing now, as the generosity of federal grants is drying up to state and federal governments.


[edit on 24-1-2008 by LightinDarkness]

Bullion is likely the best place to keep this money short-term. Current money market savings rates are below 4% and CD rates are falling with them. A pile of silver (~35oz at spot+mint for $600) will likely return over inflation while still being fairly liquid for the next year until things settle.

That's not very stimulating for the economy, but that's not what most people will be doing. As far as your personal prospects are concerned though, it'd be a french tickler.

Im gonna get a PS3 with mine! Might as well enjoy life before 2012!

reply to post by MystikMushroom


I might splurge mind and get a shinny ipod nano! Or maybe even an ipod touch! I'll be livin large off of uncle sam....

After all, as you say, we're all dead after 2012 anyways.

I will spend mine when it comes in, even though it might be May or June, Sure its a look at the 600 in the right hand while the left hand takes (well we'll see after the fact what the left hand takes). But the way food prices are going i might be able to get that pack of chewing gum I always wanted.

i think we might be seeing more stimulus packages after this one, hopefully by the time we get the money the dollar is still accepted

not sure what i would get (perhaps a plane ticket to Boston during the summer)...ya thanks gov't.

honestly things must be getting desperate or they want to stem any angst toward the politico's should some hardships come our way

Ya know, damned if you do, damned if you dont in this place.

I honestly believe that there is nothing this administration or probably any administration could do that would make the consensus happy here on ATS.

They raise taxes and the boards are filled with screams of corruption and wasteful spending.

Now they give you a tax break and its more complaining and griping.

I honestly believe that if in the next month this administration turned itself around 180 degrees, brought all the troops home, stopped the savagry in Darfur and Myanmar, cured cancer, eliminated the deficit, restored human rights around the globe, and saved the whales that the people here would STILL find something to be miserable about.

Will this tax break work....too early to tell. It might, it might not but for right now both parties believe it will work towards an economic stimulus.

Until then lets wait before looking a gift horse in the mouth.

Beautiful white wolf avatar MM. 600 duckies in my pocket aren't going to do jack for where I am. Maybe some extra jelly with my peanut butter sandwiches. Sorry fox. I had a red one in my neighborhood I used to see on walks with my two dogs. She/he was a gorgeous thing. Almost canine with catlike agility. Who says greys don't prod evolution. LOL.

[edit on 25-1-2008 by jpm1602]

[edit on 25-1-2008 by jpm1602]

[edit on 25-1-2008 by jpm1602]

I think we need to see this for what it is:

A election year, make the masses feel good about us manuver. Plain and simple.

Its going to give us a temporary bump because people who are used to ZERO impulse controll have all but spent the money ALREADY.

A nurse at work went out yesterday and buought an expensive purse and this was her justification. This very nurse who came to me for financial advice makes about $120000 a year gross (thats not a typo) yet lives paycheck to paycheck and owes in excess of 30K in credit card debt, and has a 40K car loan. My advice to her last year was very simple: Stop spending money and pay down your debt. Its pretty straight foreward IMHO. But it was not what she wanted to hear and pretty much blew it off.

This is exactly the crazed consumer type mentality that has gotten us in this pinch. And this is why this it nothing but an election year ploy and the sad thing alot of people can be bought for less than this :shk:

Here is an idea. Maybe all the members here who disagree with this rebate or dont want the govts money can agree on one or a couple of great charities and you can take your rebate money and give it to those less fortunate or disabled vets or children in Africa.

It would not only show that you literally put your money where you mouth is, it would be a chance for others to benefit.

So instead of griping how the money could be better spent elsewhere, get started making a list of charities and spend that money in the places you think its needed.

If the govt is screwing things up, then just dont talk about it, do something about it.

Wow FredT,
That kind of spending mentality is insane. I paid off all debt, invested, paid cash for my gs400 lexy before my bodies health decided to lose its wheels at 44. I am looking to sell my 220k house in spring, and have gone back to school and learn my new reality. I would have seen that coming swat. The reality is people who last year had a house, a job, and a life are coming undone. Jobless, 7.6. Market, haahahaaaa right. The writing is on the wall.
120k.....120k..... I would feel like king solomon with 120k. The best I've done is 56k with two jobs.
[edit on 25-1-2008 by jpm1602]

[edit on 25-1-2008 by jpm1602]

I say we all ban together and buy gold with it. Not gold futures, not gold investments, but real out of the creek in your hand metal gold, and then sit on it and smile quietly.

Gold is all fine and well op, it is at all time highs, won't do any good though when your tummies rumbling. I've got an extra goose, you have milk, trade ya. That, when the smoke clears, will be the 'new' reality.

Yes this money is taken directly from China, because it's taken from DEBT. This year budget already have a deficit of over 300 billions, add that and you'll break a new record!

The US government and socio/economics system has been 'systematically' taken down and thrown to the wolves of global economy. I back that funky little Kucinich for an immediate recall/stand down of the Bushter. Drudge's tell all of the 1350 dollar dinner for the Clintons doesn't warm my heart. Who DO we vote for!!!!!! They are all a bunch of vomitous silver spooners. Bill's red mad faces don't get it for me either. Huckleberries a spooner. Where do we go from here? V for major overhaul? Is that what it will take? Madness.

www.bloomberg.com...
This is the mess that they are hoping this stimulus will help clean up. They are hoping that a measely $600 dollars will pacify the public at large. I bet that long before you get anything, the businesses will get far more!! And, in the end, it will be us jon doe taxpayers that end up footing the bill for the whole deal!! Meanwhile, like the article I posted above points out.....there was alot of questionable activity going on, some of it considered fraud, and well, if that fraud can be proven in a court of law, many of these people who have bought these homes will be let off scott free. Much of these mortgages were sold to investment groups overseas, if fraud is proven, they will be returned to the bank or financial institution that first approved them here in the US. Meanwhile, there are some that made some pretty nice fortunes!! and they will be left to go their way, and well, to put it bluntly continue amassing their fortune exploiting the mess that they helped create!
They're giving me some money wanting me to spend it??? Fine, I'll hold on to it, just to be obstinate with them. This was probably one of the greatest fleecings of the american taxpayer that ever was!

[edit on 25-1-2008 by dawnstar]

[edit on 25-1-2008 by dawnstar]

Am I the only one here who received this rebate the last time, only for them to take it out of the following years tax return. I mean my husband remembers this. People at his office was talking about it so they remember this as well.

So what is it with the people on ATS here that they don't remember this. It was only an advance. They took back what they gave you in the following years tax.

This move seems a lot more psychological than economic. In fact if they can get enough people to go out and buy 'things' in anticipation of these 'rebates' the rebates themselves will not be necessary. Truthfully I think more people will pay down their debt and save what they can for future needs, like gas. It's all just an act of desperation. Our economy is in the crapper and nothing the Fed or government can do will fix it.

reply to post by Shar

That's why I say to buy bullion with it. Silver or gold if there's enough (or supplement). The typical short-term investments like money market savings and CD rates are in the toilet until the credit industry recovers. Retirement accounts held in stocks are sending people out windows too. In the mean time precious metals promises substantial growth for at least the next year. When it comes time to pay it back they can have it while you pocket a healthy return.

Most people will ignore their mountain of credit card debt and use this to go buy some new shoes because "they deserve it." Let them dig their holes deeper while we profit from their petty outlook.

reply to post by apc



great thoughts there i like your idea. I agree with it. The only other thing I may do is pay off completely a card i have. Then I will have zero debt. None what so ever. Yeah!!!!!