Go!

 

EDIT

 

...I got into an argument with a friend about how best I should spend my Economic Stimulus Package tax rebate in May (Wife+2 Kids+moderate income=$1800). I will use the money to eliminate credit card debt. He insists that the economic stimulus plan will only work if I go out and buy something. I argued that by lowering my debt load, I'd have more money to spend in the long run. He wasn't buying it. I finally shut him up by telling him I'd give my money to the McCain campaign.

Donate it to John McCain!

Put it towards the purchase of living room furniture at the new apartment.

Stimulus check??  Whatever could that be?  :roll:  :roll:  :roll:

 

The first question asked, should have been:  Are you eligible to RECEIVE a fiscal stimulus check?!  :whip:

get a sitter take your spouse out to a nice dinner first, koow. mom's deserve it!

 

i think we are going to rent a car and go drive off somewhere around here. no plans yet, but we will blow most of it on capitalistic pursuits for sure.

I'd give my money to the McCain campaign.

 

Donate it to John McCain!

 

Great minds.........!!!!    :wink2:

I'd give my money to the McCain campaign.

 

Donate it to John McCain!

 

Great minds.........!!!!    :wink2:

 

yes, great male minds  :wink:

 

get a sitter take your spouse out to a nice dinner first, koow. mom's deserve it!

...

 

 

Paying off a credit card in May will allow us to pop for a sitter and dinner once a month every month thereafter, and then dinner twice a month once the boy is old enough to babysit his little sister (or vice versa). Plus by lowering my debt-to-income ratio, I'll improve my credit rating, allowing me to borrow and spend EVEN MORE!

I will be doing what I suspect many other Americans will be doing -- whittling down credit card debt just a bit. If lots of other people do that too, this economic stimulus won't do a damn thing. This is just another meaningless move of political pandering by people inside the Beltway who don't realize how financially overwhelmed too many of us Americans have become.

^Nice quote.

 

I'd give my money to the McCain campaign.

 

Donate it to John McCain!

 

Great minds.........!!!!    :wink2:

 

To clarify, I made my Republican friend shut up by TELLING him I'd give it to McCain, which by my account says the economic stimulus plan is working already.

It's going right into savings. Sorry, economy.

I will be doing what I suspect many other Americans will be doing -- whittling down credit card debt just a bit. If lots of other people do that too, this economic stimulus won't do a damn thing. This is just another meaningless move of political pandering by people inside the Beltway who don't realize how financially overwhelmed too many of us Americans have become.

 

AMEN!

 

It's our instant gratification, keepin' up with the Jones', bigger is better mentalities.

get a sitter take your spouse out to a nice dinner first, koow. mom's deserve it!

...

 

 

Paying off a credit card in May will allow us to pop for a sitter and dinner once a month every month thereafter, and then dinner twice a month once the boy is old enough to babysit his little sister (or vice versa). Plus by lowering my debt-to-income ratio, I'll improve my credit rating, allowing me to borrow and spend EVEN MORE!

 

jinkees! well done. color me impressed  :wink:

http://www.youtube.com/watch?v=bg34d-RESho

I'm figuring the $2100 I'm getting back will cover diapers and formula for about a month. Maybe two if I promote constipating foods in the kids' diets. ;-)

^FOUR kids? What, are you a farmer?

 

EDIT:

 

(sets down calculator)

 

I mean THREE kids? What, are you starring in a sitcom?

LOL. Yes, the sitcom is more appropriate.

 

My wife and I decided that we had too much free time and too much disposable income. Or, alternatively, you could argue that we are savvy investors, and were anticipating reaping the rewards of this economic stimulus package...but given the amount of money that I spend on three kids, that would be a flimsy argument indeed and one that would make you the subject of mockery.

 

I look at it this way, since Social Security, Medicare, and all the other social safety nets will in all likelihood be bankrupt by the time I'm eligible for them, I need as many kids as possible to share the burden of supporting me when I'm an old, doddering pain in the arse, who keeps making the same joke about turning the amplifier up to '11', because I can't hear anything.

I'm sure i can find out, but i'm lazy and bored, so i will just wait for someone to answer. . . Who is eligible to receive the stimulus package?

To clarify, I made my Republican friend shut up by TELLING him I'd give it to McCain, which by my account says the economic stimulus plan is working already.

 

That's how it starts, first just one Republican friend, then he introduces you to another, then another, and so on and so on.... before you know it, you're trying to take away some poor old lady's food stamps!!

^But with all the money the gummint will save on food stamps they'll be able to pay down the interest on the money being borrowed for the stimulus plan.

To clarify, I made my Republican friend shut up by TELLING him I'd give it to McCain, which by my account says the economic stimulus plan is working already.

 

That's how it starts, first just one Republican friend, then he introduces you to another, then another, and so on and so on.... before you know it, you're trying to take away some poor old lady's food stamps!!

 

more more freudian than social. koow talks up mccain quite a bit.  :wink:

^Don't get me wrong: I love Republicans; especially with a nice Chianti and some fava beans.

Money is being borrowed from China to fund the stimulation. A large portion of the money will be spent on Chinese imports. I'm p!ssed.

I'm gonna' buy enough cheap booze to keep me blissed-out and oblivious until the campaign season is over. :drunk:

 

 

Money is being borrowed from China to fund the stimulation. A large portion of the money will be spent on Chinese imports. I'm p!ssed.

 

Some of you will remember, (well, maybe 1 or 2) growing up in the 50's and hearing our parents complain about the "Made in Japan" crap.  Funny that anything made in Japan now is associated with quality.

^Funnier still how Japan is now the #1 foreign holder of T-Bills. Wait. Is that funny?

 

http://www.treas.gov/tic/mfh.txt

Hookers & Coke.. Or pay off part of my credit card debt.. whichever tickles my fancy that day..

I'm thinking of using it for a principal payment on my house.  I was told that, if I pay an extra $46 a month, I can shave 7 years off of my mortgage.

Money is being borrowed from China to fund the stimulation. A large portion of the money will be spent on Chinese imports. I'm p!ssed.

 

Some of you will remember, (well, maybe 1 or 2) growing up in the 50's and hearing our parents complain about the "Made in Japan" crap.  Funny that anything made in Japan now is associated with quality.

 

China's quality will suck for a very long time. It will be 2050 before China even has half the GDP per capita of the United States. I'm sure P&G has a lot of plants over there though  :wink2:

If we can get each Chinese to buy 1 tube of toothpaste, comfortable retirement here I come!!!  Imagine when they find out they can buy soft toilet paper!!!

I'm thinking of using it for a principal payment on my house.  I was told that, if I pay an extra $46 a month, I can shave 7 years off of my mortgage.

 

Will you be charged for an early pay off?  Check that.  I paid my house of early and got smacked with a $2,500 fee

Bills, bills, and more bills. 

A few South Floridians have fallen victim already:

 

IRS warns of rebate scams

Identity thieves use economic stimulus plan to steal personal information over the phone, Internet.

January 31 2008: 8:16 AM EST

 

WASHINGTON (AP) -- Even before Congress passes an economic stimulus package, identity thieves are using promises of tax rebates to trick people into revealing financial and personal data, the Internal Revenue Service warned Wednesday.

 

Under one scheme, the IRS said, people are receiving phone calls telling them they can only receive a rebate if they provide bank account information for a direct deposit.

 

The tax agency stressed that it does not collect information by telephone and that no legislation has been enacted that would allow it to provide advance payments to taxpayers or that specifies the details of those payments.

 

The House last week, as part of an economic stimulus package, approved tax rebates of $600 and $1,200 respectively for most individuals and couples, with another $300 per child. The Senate is now considering a slightly different version.

 

The IRS also repeated past warnings of e-mails, supposedly coming from the agency, where people are asked to enter personal information on a form needed to obtain a tax refund.

 

A new scam, it said, involves an e-mail notification that a person's tax return will be audited with instructions to click on links to complete forms with personal and account information.

 

Businesses and accountants are also getting e-mails with instructions to download information on tax law changes. Clicking on these links could download "malware" onto the recipient's computer that gives the scammer remote access to the computer hard drive.

 

In another telephone scam, a caller claims to be an IRS employee who says the taxpayer has not cashed a refund check and asks the person to verify his or her bank account number.

 

On Tuesday, at a Senate Finance Committee confirmation hearing for Douglas Shulman, the nominee to be IRS commissioner, Sen. Charles Schumer, D-N.Y., expressed concern that taxpayers would be victimized by tax prepares and lenders who charge high interest rates for short-term advances on their stimulus rebates.

 

The IRS advised people not to click on any link from an e-mail purporting to come from the tax agency. People receiving questionable e-mails can contact the IRS through [email protected].

 

http://money.cnn.com/2008/01/31/pf/taxes/bc.irs.scams.ap/index.htm?eref=rss_topstories

Am I the only one that sees this rebate as a disaster?? I mean seriously, our national debt is already screwed up enough and this is only going to sink it further. Yea, so everyone is going to splurge for a week or two. So how is that supposed to help our economy? After everyone spends their rebate checks, we are back into the same situation...but this time with more national debt. This is not a permanent fix.

 

If the government wants to fix our econoimy, instead of throwing away free money, how about doing something about stopping our jobs from going over the borders, illegal immigration, job loss, and allow more U.S. drilling to lower our gas prices?

 

I'm sorry that I want to burst everyone's rebate check, but I cannot believe that our politicians are this stupid. This is not going to energize our economy. It's just going to let everyone jump on that new I-Phone, Wii or Blue-ray player, or pay a few bills off...and then we'll just go right back to where we were before...being broke and not spending.

I hope all the checks bounce! :evil: :evil:

 

After all Its the government administering this!

 

I agree Ronnie.  Those under 35's will still be YFB!!!

Am I the only one that sees this rebate as a disaster?? I mean seriously, our national debt is already screwed up enough and this is only going to sink it further. Yea, so everyone is going to splurge for a week or two. So how is that supposed to help our economy? After everyone spends their rebate checks, we are back into the same situation...but this time with more national debt. This is not a permanent fix.

 

If the government wants to fix our econoimy, instead of throwing away free money, how about doing something about stopping our jobs from going over the borders, illegal immigration, job loss, and allow more U.S. drilling to lower our gas prices?

 

I'm sorry that I want to burst everyone's rebate check, but I cannot believe that our politicians are this stupid. This is not going to energize our economy. It's just going to let everyone jump on that new I-Phone, Wii or Blue-ray player, or pay a few bills off...and then we'll just go right back to where we were before...being broke and not spending.

 

I think many, many of us on here understand completely what kind of disaster it is.  Doesn't mean I'm not going to take the money and put it into my savings account; I think the thread is just to determine what people intend to do with it, which has mostly highlighted exactly how this is not going to help the economy/spending, because the majority of people plan to pay bills or save it, not spend it.

and just think, you'll all have to pay taxes on it!  :-P

I think many, many of us on here understand completely what kind of disaster it is.  Doesn't mean I'm not going to take the money and put it into my savings account; I think the thread is just to determine what people intend to do with it, which has mostly highlighted exactly how this is not going to help the economy/spending, because the majority of people plan to pay bills or save it, not spend it.

 

 

Oh good, I just wanted to make sure I wasn't the only one that believed this. On that note, I think I'm going to spend mine on a Blue-ray player :-D

 

Oh good, I just wanted to make sure I wasn't the only one that believed this. On that note, I think I'm going to spend mine on a Blue-ray player :-D

 

And I know just the type of movies to buy and where to by them as there TONS of great movies to buy with that new Blu-Ray player!!!

and just think, you'll all have to pay taxes on it!  :-P

 

Quit your b!tching - "waaaah, I make too much to qualify! waaaah!!!!" :roll:

Exact dollar amount given for child ($300) goes into college fund.

for remaining: 70% to investments. 30% for fun.

 

I don't buy that this is a bad thing.  Tax rebates and cuts do help the economy.  Esp. when given to corporations.

and just think, you'll all have to pay taxes on it!  :-P

 

Quit your b!tching - "waaaah, I make too much to qualify! waaaah!!!!" :roll:

 

HUSH!!

 

I don't buy that this is a bad thing.  Tax rebates and cuts do help the economy.  Esp. when given to corporations.

 

HUH  :wtf:

^--- I second that.

 

 

I don't buy that this is a bad thing.  Tax rebates and cuts do help the economy.  Esp. when given to corporations.

 

HUH  :wtf:

 

Supply-side/ Trickle-down theory/Reaganomics.

 

 

Am I the only one that sees this rebate as a disaster?? I mean seriously, our national debt is already screwed up enough and this is only going to sink it further. Yea, so everyone is going to splurge for a week or two. So how is that supposed to help our economy? ...

The government should immediately spend money on infrastructure to make up for decreasing purchases of durable goods. 

 

 

I don't buy that this is a bad thing.  Tax rebates and cuts do help the economy.  Esp. when given to corporations.

 

HUH  :wtf:

 

Supply-side/ Trickle-down theory/Reaganomics.

 

That would be true in the Reagan years, but in todays global economy where we're trying to keep up with China (who plays dirty)...we are subsidizing our own loss with these kinds of tax cuts.

I wasn't promoting it, just stating the theory behind it. Haven't you read my recent rants?!  :-P

I wasn't promoting it, just stating the theory behind it. Haven't you read my recent rants?!  :-P

 

Yes which is why I was further complexed over the lack of a rant there.

I'm not an economist (maybe I'm just a little dim) but as an equity partner in a local company, I want someone to tell me why I should not want a tax cut for my corporation.  It would help my business grow faster and I would hire more people, who pay income taxes, buy goods and services, pay sales taxes, invest, pay capital gains taxes, borrow, and pay property taxes.

 

Don't get me wrong, I'm not anti-taxation but I think less is more to a point.  To me taxes = redistribution of wealth = regulation.  I like less regulation.

 

UncleRando:  Devil's advocate question:  Why should we be trying to keep up with a Chinese economy based on knock-offs and shoes?  Radical, but I think it is part of the misconception.  It seems to me that the US has (nearly as much as possible) moved away from a manufacturing/production economy into a knowledge/service based economy and we should just embrace this.  You're young, right?  Planning on that job in the handbag factory?  Didn't think so. Why should we try to compete with China for unsophisticated manufacturing jobs.  Concentrate on medical technology, cars, machining and emerging sectors.  Then again, I could be wrong. Sorry for hijacking the thread.

It's not really a tax cut though is it?  Isn't it just borrowing against money we're supposed to get next year?