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Color me greedy! Bush's "Economic Stimulus" approv

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Color me greedy! Bush's "Economic Stimulus" approv

Postby Neil » 1/24/2008, 4:05 pm

http://www.msnbc.msn.com/id/22782454?GT1=10755

Congress approved the "Economic Stimulus Package" that will see rebate checks coming to basically everybody who pays taxes in the US in 2007. There is a cap to the earnings in 2007 to qualify, though.

Up to 600 bucks for all singles.
1200 for all working couples.
Additional 300 bucks for each child.

IRS states that the checks will start going out in around May and most tax payers should have their check by July.
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Postby Kicker774 » 1/24/2008, 9:56 pm

The Stimulus plan is absolute BS.

$600 won't do squat those who are behind on their mortage.
The sub-prime melt down is the biggest reason the economy's been tanking in the first place.

Just watch, that next door neighbor that's in credit card debt and months behind on his mortage will go straight out to Best Buy.
Not only will he buy a High Def TV but he'll take the $600 and put the other $400 on his credit card.

This is a great short-term bail-out for the retail sector but that's not the reason for our economic mess right now.

As Jim Cramer put it best:
THEY KNOW NOTHING!!
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Postby Neil » 1/24/2008, 10:03 pm

Its part of it; people aren't spending money. It takes spending money to stimulate the economy; ergo, the meaning of a stimulus package.

It starts there, they analyze it, and then put out additional funding. Fixing the current economic standpoint will take months; not just this plan.
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Postby Kicker774 » 1/24/2008, 10:07 pm

It's a giant distraction.

Here's some cash go out and play!! Never mind the fact that you can't afford the stuff you already have - go and buy more! Help the economy!!

Figure out your own issues later (after we avoid this recession!)
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Postby Neil » 1/24/2008, 10:10 pm

Again.....the government doesn't care what people are doing with the money as long as they are spending it. They don't give a flying shit if you're putting it toward your mortgage, or buying a PS3 and surround sound. You're spending the money they are giving you.

How many people in the country honestly give much of a TURD whether the economy is doing good or bad? Probably not a lot. All most care about is their health and how much we spend on gas. haha!
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Postby myownsatellite » 1/24/2008, 11:11 pm

Kicker774 wrote:The Stimulus plan is absolute BS.

$600 won't do squat those who are behind on their mortage.
The sub-prime melt down is the biggest reason the economy's been tanking in the first place.

Just watch, that next door neighbor that's in credit card debt and months behind on his mortage will go straight out to Best Buy.
Not only will he buy a High Def TV but he'll take the $600 and put the other $400 on his credit card.

This is a great short-term bail-out for the retail sector but that's not the reason for our economic mess right now.

As Jim Cramer put it best:
THEY KNOW NOTHING!!


Well, if you don't want your $600, you can just mail me your check and I'll gladly take it off your hands.
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Postby Neil » 1/24/2008, 11:12 pm

He'll go blow it like everybody else; thats what the stimulus plan is for!!!
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Postby Kicker774 » 1/24/2008, 11:20 pm

myownsatellite wrote:
Kicker774 wrote:The Stimulus plan is absolute BS.

$600 won't do squat those who are behind on their mortage.
The sub-prime melt down is the biggest reason the economy's been tanking in the first place.

Just watch, that next door neighbor that's in credit card debt and months behind on his mortage will go straight out to Best Buy.
Not only will he buy a High Def TV but he'll take the $600 and put the other $400 on his credit card.

This is a great short-term bail-out for the retail sector but that's not the reason for our economic mess right now.

As Jim Cramer put it best:
THEY KNOW NOTHING!!


Well, if you don't want your $600, you can just mail me your check and I'll gladly take it off your hands.


I'll take it and invest it into my house downpayment fund.
(I'm not crazy ennough to think I can get a house without one which is part of why we're in the mess we're in. But another story for another time)

But in all reality you are the one who deserves this kind of stimulus.
Not just because your living paycheck to paycheck but because your furthering your education.

We need to give tax cuts to businesses who hire new employees.
Tax cuts to those furthering their education.

As it stands now this is the process:
1. Be Lazy
2. ???
3. PROFIT!!
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Postby Neil » 1/24/2008, 11:25 pm

Ummm employers are getting benefits from the stimulus if you read into it. College students are going to get lowered interest if they even BOTHER to make the phone call about the rates.

The rate was just lowered; and its going to get lowered AGAIN in as soon as another week.

You're turning this stimulus talk into backlash at the welfare system.
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Postby myownsatellite » 1/24/2008, 11:32 pm

This tax cut is not going to the wealthy, nor is it going to those lazy people who do not work. It is going to the working class. If you paid income tax, you get this tax refund. If you did not pay income tax then you don't get nearly as much. If you do not have an income, you do not get this tax break. It's as simple as that. I don't see how this translates to "be lazy, get paid."
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Postby Kicker774 » 1/24/2008, 11:37 pm

There are some people who truly need to be on welfare and have had bad luck but alot of it comes down to lack of finacial dicipline.

Sure I'll sign up for this no downpayment ARM. These rates are gonna stay like this forever!!

I really can't afford this house, but I deserve it so I'll buy it anyways. Never mind the fact I'm $10,000 in debt.

It's these types that will take the $600 and buy the $1200 tv.


Just like the types that buy booze and lotto tickets with food stamps.
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Postby Neil » 1/24/2008, 11:39 pm

myownsatellite wrote:This tax cut is not going to the wealthy, nor is it going to those lazy people who do not work. It is going to the working class. If you paid income tax, you get this tax refund. If you did not pay income tax then you don't get nearly as much. If you do not have an income, you do not get this tax break. It's as simple as that. I don't see how this translates to "be lazy, get paid."


He's just not understanding what a stimulus, is. He feels the government should have full control over where this money is going, and not allow people to choose what they wanna do with it to STIMULATE the economy.
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Postby myownsatellite » 1/24/2008, 11:44 pm

And if they need food stamps they are most likely not making any sort of income and therefore will not be eligible for this tax break.

Also, last I checked, you are NOT ABLE to purchase lottery tickets or alcohol with food stamps.
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Postby Kicker774 » 1/24/2008, 11:47 pm

I'm sure this will accomplish what the government wants it to.

But it's not the right thing to do right now.
Those who get checks and are in real trouble will be no better off.


http://money.cnn.com/2008/01/24/news/ec ... /index.htm

"Those who earned a minimum of $3,000 in 2007 will get a check for at least $300"

That's where my Do nothing -> Make Money equation comes into play.
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Postby Neil » 1/24/2008, 11:47 pm

myownsatellite wrote:And if they need food stamps they are most likely not making any sort of income and therefore will not be eligible for this tax break.

Also, last I checked, you are NOT ABLE to purchase lottery tickets or alcohol with food stamps.


You can with cash benefits; I assume thats what he's talking about. We all know the welfare system is corrupt but I started a thread about that earlier in here. Take the welfare talk elsewhere.

This is about stimulating the economy. No matter where every fucking person spends there 300, or 600, or 1800 if you're a couple with 2 kids; its going to stimulate the economy. We are heading for a recession if people don't start pulling their money out of their 'effing wallets.

If you want a recession; keep your check and boycott. That'll show us.
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Postby Kicker774 » 1/24/2008, 11:48 pm

myownsatellite wrote:Also, last I checked, you are NOT ABLE to purchase lottery tickets or alcohol with food stamps.


Currently yes, but you did see this some time ago.
This was just an exageration to prove my point about the fiscal mentalltiy of many of these people in debt.
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Postby myownsatellite » 1/24/2008, 11:49 pm

They had an income. They did not "do nothing." They had to earn a minimum of $3000 to get that check.

But you go right ahead spouting about how the government is going to screw us all by giving the working class a tax break. For me, and everyone else I know, it's a godsend.
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Postby Neil » 1/24/2008, 11:51 pm

I'll probably blow it; I'm not gonna admit it. I've got about 38k in student debts that I have to start paying on in April, but my 600 dollar check is for me.

Know why? Its going to a resort in Florida so I get a fucking vacation.

Stimulus, baby. George Bush is gonna love it!
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Postby Kicker774 » 1/24/2008, 11:52 pm

So what happens when those $600 dollars run out?

We're right back where we started and the government has X many billion less dollars in the coffers.

This will not help the economy in the long run.
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Postby Neil » 1/24/2008, 11:55 pm

Kicker774 wrote:So what happens when those $600 dollars run out?

We're right back where we started and the government has X many billion less dollars in the coffers.

This will not help the economy in the long run.



You keep saying this, this, this.......THIS is not the end of what the total idea of a stimulus, is. This is always the first step; put money out there to spend. Next is tax breaks for employers and incentives for hiring and expansion. Then comes lowering interest rates, mortgage rates, etc. This takes months and months to pull off.

Its either this or heavy recession. We were already basically starting to go in to recession only two weeks ago. Look at the DOW yesterday and today; right back on the up. Thats what it takes.

Its going to go back down. You're one of them types that think things can be fixed overnight or just shit the bed. Thats not how the economy works.
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