Economic Stimulus Package

[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.