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Stimulus question
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Stimulus question - January 24, 2008, 12:22 PM

There are reports that a deal has been struck on a stimulus package for the economy.

Quote:
By Chris Isidore, CNNMoney.com senior writer
January 24 2008: 12:47 PM EST
NEW YORK (CNNMoney.com) -- Congressional leaders and Bush administration officials have reached a deal on an economic stimulus package that would send $600 to more than $1,200 to most taxpayers in an effort to keep the economy from falling into recession.
Sources told CNN that the deal would pay most taxpayers $600 and two-wage-earner households as much as $1,200. A Democratic aide and a Republican aide said the deal will include an additional amount per child amounting to about $300.
The main exception will be higher income taxpayers - individuals earning $75,000 or more or couples earning $150,000 or more, would not get the rebate checks, sources told CNN.
http://money.cnn.com/2008/01/24/news...ion=2008012412

My question is, how will/would you spend the money? I'm interested in hearing from everyone, regardless of whether you exceed the income limits, just to get a sense of whether this will have much of an impact on the economy.

Will you spend it on bike parts, a new TV, or some other retail product? Will you put it in a savings account, invest it in the market, put it in your mattress? Will you pay off credit card debt? Will you use it to pay everyday bills for gas, food, utilities, etc.

Just curious.
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January 24, 2008, 12:32 PM

According to those numbers I would get nothing, so I would have nothing to spend.


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January 24, 2008, 12:43 PM

My girlfriend and I still need dining room chairs, so Id pick up those, and maybe get the kitchen painted, rest would go to the wedding savings.


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January 24, 2008, 12:46 PM

Quote:
Originally Posted by bike4fun
According to those numbers I would get nothing, so I would have nothing to spend.
Congatulations on making so much. Did you miss the " regardless of whether you exceed the income limits" part? What would you do if you got 600 as an individual, 1,200 if married. 300 per child?
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B
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January 24, 2008, 12:47 PM

$300-600... is that a joke?

That won't even cover your gas expenditures over last years for three months. Sometimes I think our government is full of quick fix idiots... or maybe not, perhaps they wish to inject this little spat of $500 adrenaline into folks so they go out and spend it and lend a hand to bump starting our busted up economic jalopy... Hey, as long as it's running again who gives a fuck... I feel like I'm in some road band just trying to make their next venue.

You know what, I decided to limit my political related comments here so I'm going to step off this war-rant, sustainability soapbox and simply remind folks that 80 BILLION dollars a year pissing on a forest fire has got to be paid for somewhere at some point... and that point is drawing nearer.

I'd probably toss it on the balance of my highest % CC.


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Last edited by B; January 24, 2008 at 12:53 PM..
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January 24, 2008, 12:48 PM

Into ING fund....


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January 24, 2008, 12:52 PM

I guess I should answer my own question, huh? It would go into my checking account and likely wouldn't affect my spending one bit.
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January 24, 2008, 12:54 PM

Get out of debt free... do not pass go!


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January 24, 2008, 12:59 PM

Quote:
Originally Posted by gixrB
or maybe not, perhaps they wish to inject this little spat of $500 adrenaline into folks so they go out and spend it and lend a hand to bump starting our busted up economic jalopy... Hey, as long as it's running again who gives a fuck... I feel like I'm in some road band just trying to make their next venue.
Yeah, I think that's the theory. Get it into the hands of people who are most likely to spend it. I'd prefer a longer-term solution as well. Something that would improve consumer confidence and make a real difference in the ability of businesses to create jobs. There are some business incentives that are supposed to be part of the deal as well, but they too seem to be somewhat artificial. What good is an incentive to buy a bunch of new equipment if the company's problem isn't equipment related? Then again, I am far from being an economist.
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B
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January 24, 2008, 01:06 PM

Well said, Dave. I'm certainly no economist, either.


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January 24, 2008, 01:13 PM

I found this in an AOL article...
http://money.aol.com/news/articles/_...24095609990001

Looks like more people will get it than not...

Quote:
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.


Wow. Just..................wow.
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January 24, 2008, 01:22 PM

Quote:
Originally Posted by LadyK
I found this in an AOL article...
http://money.aol.com/news/articles/_...24095609990001

Looks like more people will get it than not...
Yeah, I saw that in another article. CNN jumped the gun a little bit. The amounts begin to phase out at incomes of $75,000 for individuals and $150,000 for couples, so if you are over that, you will get a reduced amount and nothing if you make above $87,000 as and individual and $174,000 as a couple.

I'm still interested in what you would do with $600 per person regardless of whether you make more than the cap.
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January 24, 2008, 01:24 PM

ITS A SECRET!!!


Wow. Just..................wow.
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January 24, 2008, 01:27 PM

Is it a secret that starts with the number 8?
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January 24, 2008, 01:29 PM

Quote:
Originally Posted by rddy
Is it a secret that starts with the number 8?
Oh...trust me...FAR FAR better than that


Chris
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