Americans: What are you doing with your stimulus rebate?

sunnyside · Post by **sunnyside** » Sat May 10, 2008 6:14 pm

I'm not sure, but I think the idea is to prevent consume panic with the whole recession and housing bubble burst. Recessions are just a part of capitalism. And if people don't pay enough attention so are bubbles.

The problem is if consumers panic. Thats when you get a depression. So they're trying to smooth things out and keep things going. Personally I don't think it's a bad idea.

One just needs to keep in mind that it isn't a fix for Americas financial problems.

Maybe think of it like jinking the wheel to keep from going into a ditch. A good idea, but you're still driving down the same road in the same direction.

Post by **Mikey** » Sat May 10, 2008 6:15 pm

Alan Greenspan, where are you?

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 7:20 pm

Rochey wrote:While I wouldn't exactly complain if it were me getting â‚¬1500, that doesn't sound like a great idea. Particularly when you consider that most of it is probably going to be used to pay off debts or put into savings.

People already answered but yeah, the "Bush Stimulus Package" is a pandering move trying to give Bush some kind of pleasant thing for people to remember on the way out. At least I have to believe that's what it is, because if his admin thinks it's going to jump start the economy out of a recession, then LOL.

Basically each person will get between 300 and 600 dollars, provided they filed a 2007 tax return, earned at least $3,000 and the amount they receive will be equivalent to the amount they paid into Federal taxes, up to $600. I think you can get more per dependant kid so if you are a relatively low income parent or couple it's possible to get more than 600 per taxpayer.

At any rate, yes, it is pure debt spending, it is just an additional so many billion tacked onto the deficit, which is already the size of a small gas giant. And most people are not going to spend the money wisely, it's going to be spent on TV's, clothing, etc. most likely. I think China should issue a formal thank you for this bit of legislation as that is where a lot of the money will wind up, well, there or in Cayman Island post office boxes.

Sionnach Glic · Post by **Sionnach Glic** » Sat May 10, 2008 7:22 pm

Ah, right.

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 7:23 pm

sunnyside wrote:I'm not sure, but I think the idea is to prevent consume panic with the whole recession and housing bubble burst. Recessions are just a part of capitalism. And if people don't pay enough attention so are bubbles.

The problem is if consumers panic. Thats when you get a depression. So they're trying to smooth things out and keep things going. Personally I don't think it's a bad idea.

One just needs to keep in mind that it isn't a fix for Americas financial problems.

Maybe think of it like jinking the wheel to keep from going into a ditch. A good idea, but you're still driving down the same road in the same direction.

That's the problem, when gas continues to creep up -- and I think the American people are sort of belligerently expecting the gas to go back down eventually, "back to normal", and it won't-- and pay remains the same, and the housing crisis, and everything else, recession is pretty much a foregone conclusion. Most of the "rice shortage" is manmade from what I understand of it, that there isn't so much of an actual shortage as people are hoarding and stockpiling it. That sort of thing happens during recessions, people get nervous and don't spend their money on the sort of fluff that would boost the economy (buying houses etc.) and spend a lot of it on stuff that is affordable but they worry might get more expensive (food etc.)

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 8:14 pm

No one has any plans for the money?!

Monroe · Post by **Monroe** » Sat May 10, 2008 8:19 pm

I'm going to throw it into my bank and forget about it. Nice to have a little cussion in my funds.

Post by **Tsukiyumi** » Sat May 10, 2008 8:24 pm

Duskofdead wrote:No one has any plans for the money?!

As I am not getting any, I have no plans for it.

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 8:27 pm

Tsukiyumi wrote:
Duskofdead wrote:No one has any plans for the money?!
As I am not getting any, I have no plans for it.

Didn't file a tax return? Tsk tsk!

Post by **Tsukiyumi** » Sat May 10, 2008 9:01 pm

Duskofdead wrote:
Tsukiyumi wrote:
Duskofdead wrote:No one has any plans for the money?!
As I am not getting any, I have no plans for it.
Didn't file a tax return? Tsk tsk!

No need. I didn't make enough last year to have to file.

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 9:04 pm

Tsukiyumi wrote:
Duskofdead wrote:
Tsukiyumi wrote: As I am not getting any, I have no plans for it.
Didn't file a tax return? Tsk tsk!
No need. I didn't make enough last year to have to file.

Want my rebate?

Post by **Tsukiyumi** » Sat May 10, 2008 9:24 pm

Duskofdead wrote:
Tsukiyumi wrote:
Duskofdead wrote: Didn't file a tax return? Tsk tsk!
No need. I didn't make enough last year to have to file.
Want my rebate?

That's quite generous, but I like your current plan for it.

stitch626 · Post by **stitch626** » Sat May 10, 2008 10:21 pm

I didn't get a rebate, because I didn't make 3000$ last year!
Yeah, they never said that when they promised the rebate.

Monroe · Post by **Monroe** » Sat May 10, 2008 10:59 pm

Duskofdead wrote:
Tsukiyumi wrote:
Duskofdead wrote: Didn't file a tax return? Tsk tsk!
No need. I didn't make enough last year to have to file.
Want my rebate?

I'll take it.

Duskofdead · Post by **Duskofdead** » Sat May 10, 2008 11:44 pm

I'll take it.

You don't have a cool starship avatar.