Economic Stimulus Package

[Skinny Shooter]

Vote

[Tater]

I've seen several polls and it seems like most people are gonna take this money and either pay off some bills or put it in savings. I'm no economist but I don't see how this will stimulate the economy.

[jmarriott]

I will be paying down the Credit. Looks like GEE DUB"S paying us a rebate on his poor performance in office.

[skeet]

Don't really know. Almost went with the don't want it but I understand the economic stimulus idea. I can tell ya that not even 10% will save that money. Heck if I get any money from the gummit I'll probably buy another gun or so. Ya know ...it seems that every body wants to blame GW or whoever for this economy...but this has been in the makings for more than 10 yrs. Some of what the repubs have done have staved it off for a while but with jobs flowing out of the country and all them illegals coming in we really aren't gonna see the kind of economy that we have all enjoyed for most of our lives. Nafta and the "global" economy bull have really hurt the economy of the whole world...Now what we need is a global political entity to run the whole world.:rolleyes: It'll get rid of all that ethnic strife and religious based killing. Yep, the world run by someone like the UN. Just what we need. Ask any liberal...They'll tell ya thats just what we need. Another group of "people" telling us what is best for us!!:confused: :rolleyes: :D

[Skinny Shooter]

If I do get a check I'll spend it for sure. :)
But, it'll go towards a Leupold optic or some other American-made gun item.

[fabsroman]

The pole I saw had something like 22% spending it, 59% using it to pay bills, and 13% saving it, with the remainder having no clue what they would do with it. Keep in mind that the people that will use it to pay bills will be spending it too, they just don't know it yet because they are the people that are always in debt. They will use the rebate to pay down credit cards, figure out that they have more credit, and then use that credit to buy something.

Ultimately, I don't know whether or not I'll be spending it or saving it; however, I do know that it will go into our savings account and stay there for a while. Other than our mortgage, we have no debt to pay off, so it will not be going toward "paying bills" or "paying debt". We already have enough money saved to buy everything that I and my wife want over the next year or two other than a single family home, so that isn't an issue either.

I guess I would say that I am going to save it, because there isn't anything more that I plan on buying with it. I already had an AR-15 and AR-10 purchase planned, but I guess getting an additional $1,500 just makes me feel a lot easier about buying them. I'm not going to add anything more to my "want" list and I am not going to ear mark this $1,500 for a specific purchase.

[fabsroman]

By the way, has anybody heard whether or not this economic stimulus package has actually been passed by the Senate? Last I heard, it passed the House on Friday, but the Senate was looking at adding additional language to it before voting on it, which would require it to go back to the House, and which might lead to it being veto'ed by the President.

I wonder how many people have already spent this money via credit cards because they have assumed it is a done deal? It would really suck for them if it didn't go through.

[Rapier]

I am sure it will pass as soon as Teddy and the rest can figure out how to make the return "more equal," by giving my tax money to the folks sucking the social tit that never paid a tax to start with. Paying for getto votes as usual.
Ed

[fabsroman]

Here is the most current:

http://news.yahoo.com/s/afp/20080129/ts_alt_afp/useconomygrowthpolitics_080129171030

[8X56MS]

They are robbing Peter (us) to pay Paul (the 'poor'). This is nothing more than vote buying, which I thought was illegal. I guess it is OK if they government buys votes with taxpayer money.
Note that those that pay NO taxes, or the least amount of taxes, get the largest 'refunds'.

Total scam on the working and contributing classes

[Lilred]

The goverment don't give you nuthin...all yer doin is gittin a loan of sorts. Cause on counta, by the time you pay income tax on it next year, there goes 25% of the money right there...but...I aint gonna knock this gift horse in the mouth.
I'm gonna throw it in a mutual fund...maybe I might git a little back on all that dam income tax I gotta pay out next year. :rolleyes:

[Duffy]

We have no credit card debt, no car payments, no other debt to speak of except a mortgage. We will use a portion of the money for our daughters' grade school tuition, and the rest will go to savings/investments.

[fabsroman]

Duffy,

Would you have had to finance your daughter's grade school tuition if it weren't for this additional tax refund? If the answer is no, then this refund will be entirely going to savings.

The question is whether or not people will use this money to buy stuff that they otherwise wouldn't have bought.

In the end, I guess it gives people a little more security. I'll feel better seeing an extra $1,500 in our savings account.

[skeet]

Don't have a mortgage(haven't since about 1985) and the credit cards get paid off every month. No car payments but momma quit and we still make out ok.. I still make a little selling shootin stuff and we buy small antiques etc to make a little on. The thing is we really don't overspend on stupid stuff. Not big drinkers or travelers. People nowdays only think of what they have or what they can get. They don't seem to think of what the cost is to them. Where I moved from in Md we had all kinds of folks movin into the area. Nice farming communities that are being built up into 400,000 dollar plywood orchards. These are young folks movin in to get away from the city....and bringing it with them. They are building 400,000 dollar 3 story houses in an area where an expensive place was that much. They are 20 somethings with debt on the house..2 new cars..boats..four wheelers(that they can ride on their 1 acre) and they now have to commute to their jobs(that the government is pushing out of the country). They are going to be drowning in debt that they can't repay in a year or so...or when the mortgage rate rises after that short period of low rates goes away. Heck my daughter is one of them. No common sense at all. Where will it end? I still have about 25-30 acres on the eastern shore of Md...but I don't see how anyone can afford the costs of living there anymore. At least anyone with a mortgage and all the other things they have. And as far as saving...sheesh...ya know 90% of 'em aren't and really can't!:rolleyes:

[fabsroman]

They could save, they just choose not to. They want the biggest and best of everything, instead of thinking about saving. They buy it today, instead of saving for it and buying it when they have the money for it. Credit cards make it all too easy on the front side, and all too hard to pay for the stuff on the back side.

[Duffy]

Originally posted by fabsroman
Would you have had to finance your daughter's grade school tuition if it weren't for this additional tax refund? If the answer is no, then this refund will be entirely going to savings.

Good point, fabs, I didn't really look at it that way. The answer is indeed no, we would just pay their tuition outright anyway, rebate or not, so I guess it is going right to savings/investment.

[Rapier]

Skeet,
The real enemy is us. We, the boomers, raised our kids in an affluent style, because we were giving a "better life" to our family. The kids understood nothing about what we were doing except getting what they want, and right now. We did not understand the value of want.

We are very affluent compared to our parents on the whole. Our kids will never be as affluent as we are because they have no wants that are unfulfilled and they are and will remain unfulfilled in their life, working every day for the finance company, bank or mortgage lender.

The analogy to this is "You must cry to learn how to laugh."

The more important question here would be how many of you borrow from your parents to make bills and how many of you give money to your kids so they can remain afloat? This is a retorical question.
Ed

[skeet]

But you know I taught my daughter better. She really didn't heed the lessons I guess. I know we did this in some respects. The biggest thing we did wrong though was to let the gummit get away from us. Doubt we can get the power back now. The old saying that power corrupts is definitely true. And I guess we are gonna find out that absolute power corrupts absolutely. Thought that the lesson about communism that Ronald Reagan taught us would have sunk in. Skinny has it right in his tag line about defeating communism is 08. That is exactly what hillary and osama are ...communists. And I did put their names in small letters for a reason. Small minds are part and parcel with them too.

[Valigator]

It has been my experience that we can save and save and save but at some time all of us have what I call "Crap that rains from the sky syndrome" Its like the kids, the housefire and all that came with it....pretty much wiped my side out. I feel I have to start all over, oh I'll do it alright, but in as much as you think you are covered for all eventuals, Crap Rains from the Sky....so my rebate will go into the Crap fund

[fabsroman]

Val,

I call that problem "When it rains, it pours."

My wife and I are looking at new homes, but I am scared to death that one of our cars will die right after we buy a new home. My Taurus is almost 10 years old with 177,000 on it and her Sonata is 6 years old with 117,000 on it. Generally, I can keep cars running for a long time, but not if they blow a ring or throw a rod. At that point, I toss them.

Yes, sometimes in life, things seem like they are really bad. However, once you get through them, everything looks great. Thing is, without any money saved, it would have made it just that much harder for you to have gotten through what you did get through. Imagine having all that happen and having nothing saved for a RAINY day. Again, when it rains, it usually pours.

[skeet]

Ya know..that statement you made is really true. I was just talking to a friend back east. She said to me that every time she gets a little set aside something happens. Her water heater died. Hadda buy a new one. Got a little ahead and the water bed(?) sprung a leak..new mattress(real one this time) and of course the young'un always has needs. I do remember those things happening to me too. Never ending story...but I got to the point where I expected those things and worked around the problems. Course a house fire is a different thing but I do understand ..S H stuff happens! BTW are ya working on the CCW yet??

[fabsroman]

Skeet,

The thing is she had something put aside for those bad things. Imagine if she didn't have anything put aside and the water heater and the water bed broke. To repair either, which I would assume most people would have to do, she would have had to use credit and she would have had to pay interest on it. Me, I like to have about $20,000 in liquid cash (i.e., savings account) for those rainy days. Everybody should shoot for 6 months worth of their bills in savings. My wife and I are a little short of that, but we will be there in a month or two.

[jon lynn]

The only positave I see from this 'cash gift' or what ever Uncle Sugar calls it, (if it even passes the final votes), is money to put towards a plane ticket so my daughter can see the USA for the first time in her life.