Bush Stimulus Package - Was It A DEAL or DUD? SOUND OFF

WASHINGTON (AP) - President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

See Full Article Here

Okay.... up to $600 for a single person, up to $1,200.00 for a married person..... and an additional $300.00 for each dependent child.

QUESTION: Is this really going to do anything but be a very short term allowance? Considering it takes over $50.00 average to fill up a car, it won't take long to go through the money especially when you add in the rising cost of food, utilities and insurance.

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[edit on 8/31/2008 by Dave Rabbit]

Dud.

(Thanks for clearing that up for me Crakeur.)
Edit- Had a message where I was confused about the dealings with the Tax refund.

Is this really going to do anything but be a very short term allowance?

All short term. Like putting a bandaid on a huge gash that needs medical attention!
This 600$ does nothing more than help some pay off their credit cards.
600$ is like tossing out bread crumbs to the slaves.

Such a dud ! That Im sooo angry right now I can barely keep myself from cussing up a storm, ranting and raving.. But I will take in a couple deep breaths, and try to remain calm..

America has become a huge slave camp.. Nothing more than slaves working for the Crown.
Havent we been here before?

Originally posted by Dr Love
The only stimulus I'll get out of it is if I go buy some pron!

Peace

lol thanks that cheered me up for the day!

[edit on 25-4-2008 by zysin5]

Dud.

With talk of the cost of gas continuing to climb, the money wont last long. Other countries are dropping the dollar. The value of it continues to drop with no end in sight. Theres talk of food shortages now.

Seems just like short term answers for long term problems.

The only stimulus I'll get out of it is if I go buy some pron!

Peace

I see it both ways.

Anytime I can get money, I'll take it. If it's money that I don't have to pay back, even better.

However, this is a short term fix, things might get better for a month or so, but there are still many, many people who need so much more help than this.

For a long term goal, I'd rather see our goverment do something that would help bring down the price of gasoline and food.

I'd be willing to give up my "stimulus check" for that.

I've sure heard nothing about a requirement to pay it back. I thought it was a "rebate", although it is also being sent to people who haven't been paying taxes as long as they file this year and qualify. I'm not sure how a person who hasn't paid gets a "rebate", but anyway...

I'll call it a deal. Maybe not sufficient in the face of the current economic conditions, but if I can get $1200 for the family, I'd rather have it than not. Maybe a lame deal, but still a deal.

Here's a link about the effect of the rebate - you don't have to pay taxes on the rebate, and it won't affect any refund you may be due next year:
usgovinfo.about.com...

Now is it a deal?

It's a dud and no real solution to the years of recession in the works.

No doubt the cost of a barrel of oil is going to make EVERYTHING more expensive- bread, soup, services of all kinds relate directly to the cost of growing, processing and transporting those goods and services. A measly couple of thousand, spread intelligently over the course of a year, will hardly cover those rising expenses.

On top of this is the loss of so many blue collar or service industry jobs. How can ~2 grand make up for the loss of a $40,000/year job when faced at the same time with forclosure on your home?

My expectation is that many will merely use the cash as a windfall and buy some 'toy' with it which they could well do without in the hope that the short term future is brighter. All indications are to the opposite- a long term slow-down if not outright recession lasting at least until 2010-11.

On the other hand, I'm glad to hear that Wesley Snipes will get his cut, since he paid up to the IRS to the tune of $5 million.

Great topic, Dave. Starred and flagged

reply to post by zysin5


the money you receive will not reduce have any impact on your 2008 taxes.

and my take on the rebate:


The last time we received one of these governmental gifts, everyone got them and the result was rather stimulating. The gov't is hoping the same will happen but they did a bad thing by limiting the recipients based on their income being below certain thresholds. What they've done is given money to people that will probably not put it back into the system. Many economists and financial experts think one of two things will happen. Either the money will be used to pay off credit card debt or it will go into the bank. Neither will help stimulate the economy as the gov't so desires. The truth is, the folks making over $75k ($150k for married filers) are more likely to have disposable income and, therefore, more likely to take the stimulus and spend it on something rather than pay off credit card debt or put it in the bank. Unfortunately, those income figures are the starting point for the phase out of the stimulus checks so the people most likely to spend that money are the same people the gov't is excluding from the recipient list.

When my clients bring up the rebate and ask how much they are entitled to, the majority of them, when told the amount, say "well, it will cover the interest on my credit card bill for a month" or some variation thereof. I have yet to hear one client say "I'm buying myself a (insert any product here)."

So, I am going to receive a small portion of the money that was previously extorted from me.... Great.

IMO, the Federal Income Tax, as it applies to most American workers, is really just a payment to keep from getting beat-up.

I'm curious as to what I'm getting in return for the Federal Income Tax I pay (outside of not being beat-up), as I do not get an itemized receipt showing where the money is spent.

Also, unless they've now started making (American Made) Hi-Tech military equipment available for sale to the Public, I'm not sure what products/services to purchase with my returned money so that it doesn't go over-seas.





[edit on 25-4-2008 by FewWorldOrder]

Don King was a very shrewd promoter and manager. When he went to sign talent or negotiate a contract he would bring a Suitcase with 500,000 or more in Cash. Green, cold, hard cash.
The boxer unaccustomed to managing money saw the cash, and would sign a contract that ensured Don Kong would recieve the lions share of the boxers earnings. Many boxers signed away tens of millions, their health and futures because they saw half a million in cash. They lost any perspective or reason.

People are swallowing 600.00 checks...this is laughable. There is 2 trillion missing from Govt accounts, there is ten Billion in cash missing in Iraq alone, war profiteering on a scale never seen in history.
Think of it this way, had the invasion of Iraq ( not counting afghanistan ) not taken place, the checks would be 9,800 to each of the people that will recieve 600.00 ( 1.2 trillion dollars cost of iraqi war / 130 million benificiaires) I rounded off numbers.
Would THAT stimulate the economy..?


There is no perspective or reason left in the USA. It is like viewing the WWF or TNA except the wrestlers have been replaced by politicians, and the arena is filled with voters. It is sad to watch, and even sadder to realize the Nation has the Government it deserves.

DUD, I would rather bush keep all the checks, consider it severance pay for a job not well done, and get the heck away from Washington before he causes a total collapse!!!

Its a good idea............but won't work.


Or it's an attmept to ease fears of the economy.


I tend to think it's a good idea with good intentions,but it's just not feasable to iniate anything that would be substancial help to Americans.

Thankfully I don't have much debt to pay off, but with the money I have left over, I am going to invest in some business ventures, that will double the money, but I cannot say what they are, if you know what I mean.

Its going to have a good impact but the problem is they needed to about double the amount. Hers is why. If it was 600 each for my wife and myself we would pony up a couple hundred more and actually take a driving vacation. Instead at 300 we will probably buy groceries.

Its isn't enough to get people to add to it and spend a little more than they normally would.


Mod Edit: removed discussion of illegal activity


[edit on 25-4-2008 by Crakeur]

reply to post by Dave Rabbit


In a multi trillion dollar economy, 110 billion dollars will make only a slight impact.

Assuming everyone wastes their free money..

And 110 billion dollars into the hands of people who didn't earn it well....

We call that inflation.

I give it a loud and resounding

DUD!

And here is why:
How will YOU spend your Tax Rebate?

Maybe I misunderstood the original question. No, really, it could happen.

Are we talking about the effects specifically on the economy, or for us individually, because at least for me, that's two very different things.

Now for you high-rollers who really don't care because you already make too much money to participate and besides, it won't even pay to have your Beemer detailed, it's probably a dud. And maybe it won't have a big effect one way or another long-term on the economy.

But for Yours Truly, an impoverished wage slave, it'll make a pretty sweet deal that'll help me do a couple of little home improvement things that need to be done. Anybody wants to blow theirs off, I'll be glad to take it off your hands.

I am banking it along with the rest of the oodles of money that I have saved over the past year and sticking the dual birds to the government and its corruption. Good luck with this economy. Let me know how it works for you.

With the way home values have dropped in my area like there's no tomorrow, I am saving all my money for a rainy day. $500 for me is a joke and is a slap in the face after allowing all of these illegal aliens to waltz in my town, take it over, and then bail on their homes when the jobs dried up causing 50% drops in value for the rest of us. Stereo birds to this government is all they will get from me.

George W. Bush is not sincerely trying to help the U.S. economy or the people of the divided states of America. He's helping his bosses: those Nazis/Zionist bankers, who control the "federal" Reserve Bank, Bank of England & every other central-bank they've either stolen or established throughout their historical reign of tyranny.

The globalist-bankers, who selected George W. Bush to be a puppet-dictator are not trying to help us & our economy. They want us to: be naive & believe we'll be fine as long as we keep our troops in Iraq, attack Iran, and return the fiat-money we've earned back to the Bauer-Rothschilds, every year, like the brainwashed- taxpayers they would like us to be.

I wouldn't trust that Nazi/Zionist punk to fix a leaky toilet, let alone our nation's economy.

[edit on 25-4-2008 by ChadAndrewATS]

A few words come to mind.

"Red Herring"

"Pacify"

"Toss old doggy a bone"

Do something more like cut half the government spending.

Have congress men and women sign personal guarantees for all the credit spending going on.

Cut the government work force in half and then make the rest part timers.

They would get my vote of confidence then.

Originally posted by Crakeur
reply to post by zysin5

 

the money you receive will not reduce have any impact on your 2008 taxes.

and my take on the rebate:


The last time we received one of these governmental gifts, everyone got them and the result was rather stimulating. The gov't is hoping the same will happen but they did a bad thing by limiting the recipients based on their income being below certain thresholds. What they've done is given money to people that will probably not put it back into the system. Many economists and financial experts think one of two things will happen. Either the money will be used to pay off credit card debt or it will go into the bank. Neither will help stimulate the economy as the gov't so desires. The truth is, the folks making over $75k ($150k for married filers) are more likely to have disposable income and, therefore, more likely to take the stimulus and spend it on something rather than pay off credit card debt or put it in the bank. Unfortunately, those income figures are the starting point for the phase out of the stimulus checks so the people most likely to spend that money are the same people the gov't is excluding from the recipient list.

When my clients bring up the rebate and ask how much they are entitled to, the majority of them, when told the amount, say "well, it will cover the interest on my credit card bill for a month" or some variation thereof. I have yet to hear one client say "I'm buying myself a (insert any product here)."

I have to disagree with you, I don't think that 'most' Americans are paying 1200 or even 600 dollars of interest on their credit cards each month. Some might, and those are people who certainly need to get their financial situation in order.

I believe 'most' Americans would fall into a lesser category of having some credit card or other debt and getting a sum of money like this will probably be used to pay something off or take a chunk out of it.

I am married and combined we don't make anywhere near the limit for receiving this rebate.. If I made 150,000 dollars a year, I would definitely feel rich, extremely rich for where I am now.

We might make a combined 60k a year, I have two houses (can't sell the other one, yay!) a car payment and some random debt. I'm not going to put this rebate back into the system, true, and some like me won't either, but there are many who will just throw it back into the system.

The thing is, no matter where it goes, (the theory is) it will help. Because if I pay off one of my high interest credit cards (my only one left), I no longer have that payment every month. That's going to be money in my pocket I didn't have before, that I can spend on needs or wants.

I can really only speak for my own personal situation and the general theory. I don't know what situation everyone is in. But at least for me, I got a little in over my head and I've been slowly fixing my finances, this sum of money will give me a jump on that and definitely help me have spendable income.

This is just a band-aid, though, and I don't believe it will fix the root causes of these problems, so they'll continue until a huge change in thinking on the economy occurs.