(by 5 people)
HERE'S WHAT I THINK
Horse Dookie!
The check is in the mail...well almost. George Dubbya signed legislation on Wednesday Feb. 13th for Americans to get a check of up to $600 for individuals and $1,200 for couples, with an additional $300 for each child provided they meet certain criteria.
The idea is that people are going to be running down Main Street with their greenback booty in hand buying HD TV's, Pink Flamingo's, $1 Beers. The plan is that "We the people" are going to spend that $150 Billion Dollars and whip the economy back into shape.
Now the problem here is that we are going to have to borrow this money in order to fund the rebates. HELLO! What if the average middle class American decided to borrow $50,000 from their credit card and gave 16,667 people $3 each to buy Girl Scout Cookies. Yes it's a good cause, yes the Girl Scouts would benefit, but average middle class American would be so far in debt that they would probably end up filing bankruptcy. Generous, Yes...Stupid, Yes.
Now don't get me wrong...our garage door just self-destructed last night and the $1,200 that my husband I will get will certainly go to good use, BUT I can't help feeling that it's somehow going to bite us in the ass next year. The government is being vague about how this is going to impact our 2008 tax returns and there is no guarantee that this plan will in fact save the failing economy. So it's a tough call, but I am going to call it Horse Dookie.
There are better ways to stimulate the economy. Lower gas prices, stop reckless government spending, create jobs, lower tuition costs...
YOUR TURN!
The Economic Stimulus Package, Horse Dookie or Happy Days?
Fetching blurbs now... please stand byYes, you're right it's Horse Dookie!
GrowWear says:
It seems to me to be yet another way to pretend to help the poor. What are they going to go out and buy? A new patio set? Plants for the garden? No, they are going to pay the light bill and other utility bills that are behind.
Posted May 14, 2008
Working Stiff says:
Estimated income tax revenue for 2007 = $1,096.4 Billion. Cost of stimulus package = $150 Billion. To find out what your really entilted to (based on what you paid in 2007 income taxes) multiply how much you paid in taxes this year by this factor: (150/1096.4) = .1368 (13.68% of what you paid). If this were a fair rebate you would get back the portion you paid in. So, for example, if you paid $25,000 in taxes for '07 the portion of the stimulus package you paid for is $3,420.28. So who's stealing the rest of my money???? Thank you socialism!
Posted May 07, 2008
Recession-Proof says:
It's horse dookie. I'm not above taking back $600 bucks of my hard-earned money if they're just giving it away. But it really makes no sense.
Posted March 13, 2008
murty says:
With the CA deficit every year and government debt each growing substantially every year this will only exacerbate the problems.
Posted March 11, 2008
jay says:
To Matt,
Sadly, if there is no debt in America, there is no money. The only way money gets into circulation is through borrowing. The banks borrow from the Fed. Reserve, and we borrow from the banks. If all the money were repaid on all loans there would be no cash at all. So yes this whole plan is Horse Dookie. Enjoy getting your own money early only to have to pay it back later, after the Bush administration has patted itself on the back for a job well done.
Posted February 18, 2008
roddaut says:
You're right. Let's borrow money. Then let's give it to people. Then let's hope they spend it on stuff that will "improve" the economy. Then to pay off the money we borrowed, let's raise taxes even higher later. Great plan!
Posted February 17, 2008
Matt says:
Why don't we educate people on how to pay off the trillions of dollars in consumer debt *first*. When people have no debt -- wow! How about that! They have money to spend
Posted February 17, 2008
bdkz says:
Actaully unemployed people won't get a check. You have to have made $3,000 or more in order to get the money. Most people on umemployment, social security or disabilty won't see a dime.
Posted February 15, 2008
trcamp7795 says:
this is just another cover-up of redistributing wealth; which is what the communists were all about. This isn't "The Economic srtilmulus package". it is a communist,wrong thing to do. Think about it, people who get paid millions BY WORKING, are having to give up that money to people who are un-employed or are french fryers at Mickey D's.
Posted February 15, 2008
garethjax says:
Awesome ? Who's the counselor that proposed this act to President Bush? Paris Hilton ? That's only propaganda for the republican party!
Posted February 15, 2008
MrLewisSmile says:
Because of the US economy problems, this announcement from George Bush of $150B etc etc ended up wiping that very same amount from the Top 100 UK companies, because of investor reactions. However that happened, the US is not going to be magically saved by this crap plan. The money has to come from somewhere, and it's coming from THE US CITIZENS! Haha. Unlucky ;)
Posted February 15, 2008
kab says:
I say we insist that all toys sold in America are made in America. That would bring back a lot of small factory towns that are dying, and clear up the lead paint issues. Two birds with one stone.
Posted February 14, 2008
rms says:
Definitely Horse Dookie! Even if we did go out and buy some electronics or toys wouldn't that money only be going overseas?
Posted February 14, 2008
No way, Monkeybrain! Happy Days Are Here Again!
coollikeme says:
This is the time when the rich get richer. Great time to be in the stock market.
Posted March 04, 2008
ideasbymarz says:
We give enough of our hard earned money to the government. No one bothered to ask me before we spent 100's of billions in Iraq and else where. Why shouldn't we get our money back
Posted March 03, 2008
KelleyEidem says:
One way to look at it is that the money is a temporary tax cut. We've seen that when taxes are cut, it increases federal tax revenues.
Some critics have said that some people won't spend the money, that they just pay off credit card debt or put the money in the bank. My answer is to ask, does the credit card company or the bank just sit on the money they receive, or do they use it?
Unless a person merely puts the money in a coffee can, the money will circulate. Will it be enough to turn the economy back on track. It's not likely to be able to accomplish that big task, but it doesn't hurt the economy for tax payers to have more of the money they have earned in their own hands.
I might be biased, however. The six hundred enabled me to work out an arrangement to get my book back on the market. I expect it to sell five million copies. :-) So my economic situation could improve quite handsomely from the $600 priming of the pump.
Kelley Eidem
Posted March 02, 2008
dnev says:
I'm going to use that money to pay off my credit card.
And I know that our government is deep in debt, and we're going to help increase inflation by giving so much money away that is probably being printed out of thin air. At this point, I can only use the money and hope for the best. Let's hope that the next president will support the FairTax, which will make alot of these tax related issues a thing of the past.
Posted February 22, 2008
HELP ME PROVE MY POINT
If you agree, add links (proof!) that help me make my case
Add a link that makes my case.
The Cleveland Free Times : Here, Go Buy Yourself Something Nice
The Government Pays Us To Look The Other Way While more...0 points
Conflicting Interests Present Hurdles to Stimulus Package
A rush by President Bush and Democratic leaders t more...0 points
Miranda Marquit: Economic Stimulus Package: No Stimulus for Green Energy - Business on The Huffington Post
Economic Stimulus Package: No Stimulus for Green E more...0 points
Bloomberg pans economic stimulus package -- Newsday.com
WASHINGTON - New York Mayor Michael Bloomberg said more...0 points
What $600 WON'T Buy You!
- Gas for 5,000 miles in your car that gets 25 miles per gallon.
Cost = $630 at $3.15 per gallon. - 1 month mortgage payment on a $172,000 loan at 6.25%
Cost = $1,065 - 1 month worth of groceries for a family of 4.
Cost = $645 spending $150 per week. - A Pony, 3 yr, Registered POA Mare, 13.2h.
Cost = $1,500 - The Economic Stimulus Package
Cost = $150 Billion
Find out how YOUR money is being spent!
The Pig Book: How Government Wastes Your Money
Amazon Price: $12.95 (as of 09/08/2008)
List Price: $12.95
Avg. Customer Rating: 
And if "The Pig Book" Didn't depress you, try this one!
Taxes, Spending, and the U.S. Government's March Towards Bankruptcy
Amazon Price: $79.00 (as of 09/08/2008)
List Price: $79.00
Avg. Customer Rating: 
DISPROVE MY POINT (fine, be that way)
Disagree? Put your money where your mouth is and show us why.
Post links that point out why you think I'm wrong.
VOA News - Bush Administration Touts Economic Stimulus Package
The Bush administration says the long-term outlook more...0 points
Rebates Could Stave Off Long Recession - Business on The Huffington Post
Rebates Could Stave Off Long Recession - The Huffi more...0 points
Happy Days Are Here Again!
Look What You Can Buy For $600!
A Snow Blower
On Sale for $599.98.
Yard Machines 22-Inch 5.5 HP Gas-Powered Dual-Stage Snow Thrower #31A-3CAD700
Amazon Price: $529.99 (as of 09/08/2008)
List Price: $899.00
Avg. Customer Rating: 
A Really Nice Watch
On Sale for $599.99
Tag Heuer Men's Formula 1 Steel Watch WAH1111.BA0850
Amazon Price: $604.00 (as of 09/08/2008)
List Price: $900.00
Avg. Customer Rating: 
18 Cases of Kraft Easy Mac
Kraft Easy Mac Original, 2.05-Ounce Microwave Cups (Pack of 36)
Amazon Price: $34.64 (as of 09/08/2008)
List Price:
Avg. Customer Rating: 
What Are You Going To Spend Your Check On?
My credit card bill
I owe about 600, and this will be really helpful. more...1 point
A Solid Gold Money Clip
Costs about $599, perfect for putting my... oh. Ne more...1 point
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