Posted on 01/19/2008 5:16:07 PM PST by Libloather
Will the check be in the mail?
Last Edited: Saturday, 19 Jan 2008, 1:47 PM EST
TAMPA - Cash can be like a jolt of caffeine to a national economy. In 2001, the federal government sent every income taxpayer a $300 rebate check. It ran up our debt, but also helped end our last recession.
Now President Bush and Congressional leaders want to try it again. This time they may send every income taxpayer a larger check. Economists say that could stimulate our economy again if recipients spend much of their rebates on products.
"Letting American people keep more of their own money should increase consumer spending," said President Bush. That could potentially pull us out of the credit and mortgage mess that's hurting the entire U.S. economy. For this to work, federal leaders need to act soon.
"A stimulus must be timely—if it comes too late, it can interfere with a recovery," said House Speaker Nancy Pelosi.
President Bush also wants tax credits for small businesses that could entice them to expand and hire. Congress may also increase unemployment benefits, and increase food stamp allotments.
On the downside, big rebates can drive up debt and inflation over the long run, which takes money out of our pockets. But our government is focused on a temporary stimulus, to address the problems we have today.
I figure I’ve donated somewhere north of 1/4 million dollars to the federal gov’t in my lifetime.(not counting fica). If they want to send me a check for anything, I’ll take it. Other than perhaps some bombs to blow up arab blankblankers that really deserve it, I can’t think they’ve done much of anything with my money that I approve of.
I’ll put the money straight towards my monthly costs which have now gone up due to inflation, ethanol and the oil impact on everything. I heat with firewood...even my guys I’ve known for years want an extra hit to cover the fuel they blow on delivery.
Watch out, someone here might accuse you of being one of them wild-eyed nutty Ron Paul supporters, posting stuff like that.
It's worth less than 2% of what it was worth in 1913, and people still don't seem to have found out about it yet, so it's small wonder that the Feds think they can keep doing it indefinitely.
Not a Ron Paul supporter. A Fred Thompson supporter. Paul is a whack job.
You people would blame Lincoln for a rainy day.
But none of them are calling for that as a solution.
............A stimulus must be timely......
Before the election, but not so long it will be spent and forgotten on election day.
....And not a word from anyone on how to pay for it......
Only Democrats worry about ow to pay for it.
It a tax reduction.
Then I never thought I'd live to see the day where the Democrats are the party of fiscal responsibility.
The other night I was watching a show on Food TV, I believe it was a Rachel Ray vacation show, and they had her in an ice cream and malt shop that was about 100 years old. On the wall they had advertisements from the original days of the ice cream shop that showed the prices from way back then, and she actually mentioned something along the lines of while the prices have gone up, the ice cream is just as good, and for $2.75 you can get a single scoop (as opposed to the .10 single scoop that they advertised)!
I guess people just see price increases as something natural, without any sort of cause. It just happens, like how your lawn grows.
Mark
Nope I got out in 1986.
As soon as I heard about the $800, I decided on getting another Bushmaster M4.
Very cool. It sounds like you live a very interesting and rewarding life. Good for you!
You think the money you would get is just printed? Wrong. It will be borrowed.
Glenn Beck had a government accountant explain the current state of the real debt. It amounts to $448,000 for every living person in the United States.
Bullshit. At best, only half the equation.
Foreign countries who deal with us are getting wise to that situation.
Other countries have to look at us and wonder.
Katrina, 9-11, the war in Iraq,increasing Govt spending, a 150 billion dollar rebate suggested, running a welfare country to boot.
Where the hell are the Americans getting all that money and still maintaining such high lifestyle,with no cutbacks in Federal spending. ???
You don't think the Americans are just printing the money do you??? - tom
Yep. As much as I would love $800 to pay for one month of fuel between gasonline and heat, the government could fix this through tax cuts that create jobs. Further, with $100B and policy, the government could subsidize nuke plants, offshore, drilling, biodiesel (let’s skip ethanol for now) solar, wind, hydrogen. In other words, create a million or two jobs spurring energy independance and creating a massive energy export market.
Just last week, congress was discussing a NEW 40 cent per gallon tax on gas for road construction, so much for 800 in "relief"
If they really wanted to help they would suspend the gas tax for 12 months then slowly schedule it back in. It would result in more money in everyones pocket, slow inflation and stimulate the economy.
what is the cut-off?
A couple days ago, I read the proposed cut-off is $80,000 single and $110,000 married. I thought the numbers were very low, but it’s all class warfare. The cut-offs vary a lot during the negotiation stage, but if they are proposing such low limits now, there’s probably not a lot of hope they will go north.
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