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+--- Thread: I'm curious...does anyone think the stimulus checks (/showthread.php?tid=54033)
Re: I'm curious...does anyone think the stimulus checks - Filliam H. Muffman - 04-29-2008
I think the big problem with the economy right now is the housing market and inflation from higher crude prices and corn-to-ethanol filtering down.
$600 will do nothing for either the 500,000 people in California that are going to lose their houses this year, or the $20 billion in deficit that Arnold just announced due to loss in tax revenue (loss of property taxes and companies off shoring their corporate headquarters in tax havens cough*Halliburton*cough).
Re: I'm curious...does anyone think the stimulus checks - Pops - 04-29-2008
I'm going to pay off some debt from putting my kids through college. My grandchildren will have to pay off the national debt that this clown of a President has saddled them with.
Re: I'm curious...does anyone think the stimulus checks - Dennis S - 04-30-2008
"Stevie, are you confused about who's money it is?"
It's like a tax cut - we will pay interest on it from now on.
Re: I'm curious...does anyone think the stimulus checks - MacMagus - 04-30-2008
I think since most earners pay a pretty hefty tax to support the common good, a small break---having some of our own money returned to us for discretionary use, using how we choose, either wisely or foolishly, or however--is not a bad thing.
This is not taxpayer money being returned.
The government is taking on more debt to cover it and then it's cooking the books to pretend that there's a tax credit on your 2008 return.
Meanwhile, interest accrues on the debt and taxes will have to be raised to cover it either at the federal level or by the federal government denying resources to local governments forcing them to stick it to you as proxies.
And the Saudi's and Chinese and other foreign nationals will own that much more of the United States... because that's who's buying our debt lately. And that means that there's that much less incentive for the federal government to invest in practical alternative energy resources or to fight the real sources of terrorism 'round the world or to enforce trade regulations or to inspect foreign goods for taint and unsafe construction or to promote human rights.
Meanwhile, we "enjoy" higher food and fuel prices, further eroding the middle class and driving greater numbers into poverty and obscurity. (But don't worry. So long as you've given up hope for a job, your condition won't impact federal employment figures.)
What's that "tax relief" costing?
Our lives, our fortunes, our sacred honor.
That's all.
Re: I'm curious...does anyone think the stimulus checks - kj - 04-30-2008
I don't think the stimulus checks
Re: I'm curious...does anyone think the stimulus checks - OWC Jamie - 04-30-2008
Someone in China will end up working on a Sunday, not get paid overtime, and can now afford a bowl of rice for a day or two.
Or, someone in China will have to somehow stitch an extra 50 pair of jeans one day or get fired.
The stimulus will get around. Not everyone will be smiling.
Re: I'm curious...does anyone think the stimulus checks - mikebw - 04-30-2008
I think a lot of people will use to help pay for something they could not otherwise afford, but that still costs more than the amount of the paycheck. For example a $1,000 LCD TV. This is probably more than a many people could spend at once, but with $600 from Uncle Sam that makes a huge dent in it. Put the rest on credit on you're good to go.
The Gov't has then successfully stimulated someone to not only spend the $600 but also committed then to spend even more over time. Kinda sneaky I think.
Personally, I will probably use it for some house remodeling project or to pay down the mortgage. I don't really need anything I don't already have, now is not the time to throw away your principles of smart financing.
Re: I'm curious...does anyone think the stimulus checks - michaelb - 04-30-2008
It has been over 20 years since I took economics in college, so I will wing this from my distant memory. I think most people in this thread are confusing short term effects and long effects. Classical keynsian economic theory would say that to get out a recession the Gov has two options: increase spending or cut taxes. But that is specifically a short term effect. Calculating the impact of this short term stimulus on the long term is either impossible or exceedingly complex, and subject to dispute and controversy (in the long term "we are all dead" is the answer to the long term question).
How the spending on this stimulus affects the deficit or interest rates would also be considered to be a long term effect. In theory, the long term is not set, so stimulating the economy in the short term would change the long term positively, outweighing the tiny cost of any increase in the deficit.
I don't really understand how international currency rates impact all of this, but it is possible that a drop in the dollar or a shift in foreign investment out of the US could offset any short term or long term gain. This may be one of the "macro" effects that is making the US economy such a mess and is clearly driving up gas prices. Since currency is traded openly, and includes speculation about the future (the "long term"), it is possible that any gain from the stimulus has already been accounted for and taken back (instantly, so in the short term) by this market change.
Re: I'm curious...does anyone think the stimulus checks - OWC Jamie - 04-30-2008
just another presidential nightmare
Re: I'm curious...does anyone think the stimulus checks - guitarist - 04-30-2008
[quote Dennis S]"Stevie, are you confused about who's money it is?"
It's like a tax cut - we will pay interest on it from now on.
In spite of all these clever answers, the prevailing perception (successful brainwashing) is that it's the government's money, it always has been, always will be, and we are allowed to have some of what we earn, by the state, it was their money first, and even when we have some it, it's still theirs. Good job! They have their subjects thinking like sheep! In reality, what can they do? Well. They can print money. They can spend money. But can they make money? They look to us to do that, and then take a percentage of what we make. Taxation. Been around a long time. Has that changed? Last I looked, that's still how it works.
Did we switch roles at some point? Did the private sector stop making money, are now all non-profit organizations, people with jobs stopped working for paychecks, and now workers tax the government, that's our source of revenue? And the government stopped goofing off, went out and got a job, and started earning money? Sounds good to me!