The Rebate The Government Wants To Send Out

[Brett]

So, With the stock market dropping 400 points in the first 2 minutes of trading this morning, the fed cutting the rates again.... and now it seems likley the government will send out a rebate check to each tax paying family within the middle class and below, Do you think that will help the economy? 70% of the economy is fueled by us spending money on retail items.

They are wanting to send $800 for single and $1600 for married tax payers.

So do you think it will help? I personally think for a month or so we will see the economy pick up obviously but after that I think it will not help consumer confidence.

[TheGodfather]

I voted C.

Oh...yeah.

THEY TOOK OUR JOBS!

[Hulud]

no, it wont help.

the economy is falling, its the natural order. giving people money will sorta help but in the end 1600 wont buy anyone enough to make an impact on the economy. plus the fact that we are sliding into a recession and the higher unemployment rates means that most people will just save the money rather than putting it back into the economy. the way to boost the economy (imo) would be to cut back on the taxes to businesses to lower the costs of goods so that it will entice people to spend their money and get the economy back on track.


but who knows, if i was 100% sure about this i would be working for the govt, not going to college LOL

[Alan®]

not gonna help. like you said it might pick up for a month or so but after that it will go back down. A recession is not avoidable

[Hulud]

A recession is not avoidable

some are.

[Alan®]

no, it wont help.

the economy is falling, its the natural order. giving people money will sorta help but in the end 1600 wont buy anyone enough to make an impact on the economy. plus the fact that we are sliding into a recession and the higher unemployment rates means that most people will just save the money rather than putting it back into the economy. the way to boost the economy (imo) would be to cut back on the taxes to businesses to lower the costs of goods so that it will entice people to spend their money and get the economy back on track.


but who knows, if i was 100% sure about this i would be working for the govt, not going to college LOL

this is what i have been saying the past year and exactly why hillary doesnt need to be in office. our corporate tax rates are the 2nd highest in the world and cutting them by 3% would inject a lot more into the economy than what the government is currently doing.

[DieselNuts]

I dont think it will help the big picture, but there is only one way to find out for sure...I WANT MY $800!!! lol

[Hulud]

I WANT MY $800!!! lol

lol

[Ran]

When can I expect my check?

[Echonova]

Most people in the lower income bracket don't pay taxes as-is, where is the gov. going to get the money for this?.?.?. I guess the "evil rich" are gonna foot the bill as always.

[Scotsman]

When can I expect my check?

x2

[On_Her_Face]

1600 bucks won't do shit, except piss people off and make them realize how fucked we all are

[DieselNuts]

Most people in the lower income bracket don't pay taxes as-is, where is the gov. going to get the money for this?.?.?. I guess the "evil rich" are gonna foot the bill as always.

Whats the problem with that? I have money taken out of my taxes to pay for well fair and other "government funded" programs. Not to mention, my Social Security is being drained along with everyone else that is in my age group (im 24).

[Alan®]

Most people in the lower income bracket don't pay taxes as-is, where is the gov. going to get the money for this?.?.?. I guess the "evil rich" are gonna foot the bill as always.

yup i gotta find the graph but the bottom 80% of the population pays less in taxes than the top 1% and its still climbing. And think if hillary gets in its going to skyrocket

[Hulud]

Whats the problem with that? I have money taken out of my taxes to pay for well fair and other "government funded" programs. Not to mention, my Social Security is being drained along with everyone else that is in my age group (im 24).

its wellfare, cause wellfare aint fair

["B"]

I just want my check!!!

[Echonova]

Whats the problem with that? I have money taken out of my taxes to pay for well fair and other "government funded" programs. Not to mention, my Social Security is being drained along with everyone else that is in my age group (im 24).

Depends on what you're making. If you are "low-income" yes, you still have taxes taken out, but get them back come tax time with "earned income" tax credits. So in effect you're getting back everything you paid into the system. Why should someone who has worked hard, taken risks, and made smart decisions have to pay extra for you? (Not saying you’re a deadbeat) SS will probably not be there for me either (I'm old) but anyone this day and age depending only on SS for retirement will end up being a Wal-Mart greeter when they "retire".

[Hulud]

but anyone this day and age depending only on SS or retirement will end up being a Wal-Mart greeter when they "retire".

lol truth

["B"]

Echo is a staunch Republican.

[Echonova]

Echo is a staunch Republican.

LOL, wrong. There is little difference between Dems and Reps these days. It's a matter of degrees now... Do you want this country to drive off a cliff at 80mph or 20mph? It's going over the cliff either way, just how fast do you want to get there?

[Hulud]

LOL, wrong. There is little difference between Dems and Reps these days. It's a matter of degrees now... Do you want this country to drive off a cliff at 80mph or 20mph? It's going over the cliff either way, just how fast do you want to get there?

lol, you cynical son of a ***** LOL

i love it

[Alan®]

Depends on what you're making. If you are "low-income" yes, you still have taxes taken out, but get them back come tax time with "earned income" tax credits. So in effect you're getting back everything you paid into the system. Why should someone who has worked hard, taken risks, and made smart decisions have to pay extra for you? (Not saying you’re a deadbeat) SS will probably not be there for me either (I'm old) but anyone this day and age depending only on SS for retirement will end up being a Wal-Mart greeter when they "retire".

yup right on the head as usual my friend.

[civic95]

Depends on if people spend it, or save it. Also will depend on what they spend it on.

[Brett]

I plan on doing what I can to help our country, so I will go out and spend mine!! LOL

[quickdodge®]

its wellfare, cause wellfare aint fair

It's welfare. Later, QD.

[Jecht]

I plan on doing what I can to help our country, so I will go out and spend mine!! LOL

I'll go out and spend mine. I'll spend it on a one way plane ticket out of the U.S.

[mocha latte cupcake]

consider that 800 bucks spent!

[bafbrian]

no, it wont help.

the economy is falling, its the natural order. giving people money will sorta help but in the end 1600 wont buy anyone enough to make an impact on the economy. plus the fact that we are sliding into a recession and the higher unemployment rates means that most people will just save the money rather than putting it back into the economy. the way to boost the economy (imo) would be to cut back on the taxes to businesses to lower the costs of goods so that it will entice people to spend their money and get the economy back on track.


but who knows, if i was 100% sure about this i would be working for the govt, not going to college LOL

Good point.

The recession is coming, sooner or later our debt will get us, since we are the largest debtor nation in the world at the current time. Even with an incentive such as those, it would help.

We sliding into a recession; but this a consumer driven recession and not a business driven similar to that of the Great Depression.

["B"]

I will spend mine as well. I already got ideaes for that money. Unlike most of the people in debt these days, I will use mine to help get OUT of debt.

[Alan®]

^^Good for you. I always like hearing about people being responsible with their money rather than just being frivolous

[tony]

not gonna help. like you said it might pick up for a month or so but after that it will go back down. A recession is not avoidable

I'll go ahead and call ya out on this since I've seen you post numerous times that the recession is a cycle and this is normal blah blah.

I would almost believe you know what you are saying till you posted that this stimulus is not going to help. If you understood the cycle of how the economy works you would know that a stimulus theoretically begins the process of recovery.

It is NOT instantaneous but rather a process. In terms that can be explained on a car forum, its very similar to jump starting a car.. the source of the jump (in this metaphor would be the tax rebate) gets things moving but does not power the vehicle itself, the vehicle (economy) in turn is able to run on its own efficiently thanks to the jump. (again, the rebate)

Think about what people do with unexpected money, some will save but most will spend and that gets the cycle moving upward. If some of you remember we had a tax rebate right before the housing boom.

The problem with this stimulus plan is inflation, which really hits the lower class hard.

[iloveboost]

I've learned to not waste my time reading redGT's posts. I'd rather bang my head against the monitor than to waste my time replying to him.

[Alan®]

I'll go ahead and call ya out on this since I've seen you post numerous times that the recession is a cycle and this is normal blah blah.

I would almost believe you know what you are saying till you posted that this stimulus is not going to help. If you understood the cycle of how the economy works you would know that a stimulus theoretically begins the process of recovery.

It is NOT instantaneous but rather a process. In terms that can be explained on a car forum, its very similar to jump starting a car.. the source of the jump (in this metaphor would be the tax rebate) gets things moving but does not power the vehicle itself, the vehicle (economy) in turn is able to run on its own efficiently thanks to the jump. (again, the rebate)

Think about what people do with unexpected money, some will save but most will spend and that gets the cycle moving upward. If some of you remember we had a tax rebate right before the housing boom.

The problem with this stimulus plan is inflation, which really hits the lower class hard.

I understand how it works but the reason I said that it won't work is I expect most people to save it with all the fear the media strikes in people.

[tony]

If people are low on funds due to their habit of spending why would a free check suddenly make them so frugal? Most will spend, trust me.

I don't know if tax cuts on corporations would be the answer, I'm still researching supply side economics so I cannot really say. What I can say is Clinton raised taxes and that seemed to work for him.

[Alan®]

If people are low on funds due to their habit of spending why would a free check suddenly make them so frugal? Most will spend, trust me.

I don't know if tax cuts on corporations would be the answer, I'm still researching supply side economics so I cannot really say. What I can say is Clinton raised taxes and that seemed to work for him.

I guess your right. As far as clinton goes. I was only like 10-14 when he was in office so i cant say much as far as what he did.

But from what I have seen in the articles I have read and so forth it seems like lowering corporate tax rates would work a lot better than the rebate.

[gtikid]

I guess your right. As far as clinton goes. I was only like 10-14 when he was in office so i cant say much as far as what he did.

But from what I have seen in the articles I have read and so forth it seems like lowering corporate tax rates would work a lot better than the rebate.

Please, shut up Just don't even talk about this subject or any of the other subjects in this forum. You do not know what you are talking about when it comes to anything.

[Alan®]

Please, shut up Just don't even talk about this subject or any of the other subjects in this forum. You do not know what you are talking about when it comes to anything.

[gtikid]

Don't make me call your 15 year old brother to whoop your ass again

Wadda bitchh

[Alan®]

Don't make me call your 15 year old brother to whoop your ass again

Wadda bitchh

2nd time I have heard that this week. it's ok though.

It's funny how I put my .02 when you have contributed squat and yet your going to tell me I don't know ****? GTFO.I have never claimed to know everything or a lot but I atleast have a basic understanding unlike most of the 19 year olds running around with their thumbs up their ass.

[JConner]

redGT I agree.... lowering the corporate tax rate (cut it in half) would help more than this rebate