Tax Rebates? What does this mean guys?

[audioarsonal 10+ year member]

Agreed!I will be paying off any debet though,before reinvesting into the economy!

This is all just a bubble that will end if we just ride it out and quit trying to bail everyone out.When the housing market recovers people will have equity back in there houses and begin spending.

 

[duece212 5,000+ posts]

If not already mentioned, this is our own money back. But the sad thing is congress spent it so they have to borrow money to do this. If Nancy Pilosi backs this, it makes me nervous. We will have to pay it all back anyway later.

Exactly on all counts!

This chick scares me:

 

[Flipx99 5,000+ posts]

Agreed!I will be paying off any debet though,before reinvesting into the economy!This is all just a bubble that will end if we just ride it out and quit trying to bail everyone out.When the housing market recovers people will have equity back in there houses and begin spending.

Well, some people it is important to bail out. Financial institutions for instance...it is important we bail them out just because they have our money. Think about it...your employer has a bank, correct? Well, if that bank fails and he doesn't have additional deposit insurance, then people may not get their paychecks, and then you can't pay your bills. It may seem "impossible", but it happened in Germany in the 70s. I don't think the banks should be bailed out without some additional oversight or regualtions.

 

[mjf 10+ year member]

In all seriousness, it could be considered as an investment....they borrow $150B to bring the economy out of possible recession. An investment to improve the general welfare.
I do not think it is a good investment or that an economic stimulus is needed...but I am also going to cash the check just like everyone else.

I think of it this way, if you have the money to spend you're going to pay (x) in taxes.

So if you actually spend this money, you're just giving them some of it back, and it will be spent over and over and over again, until eventually they get it all back, and im sure it wont take them that long at all.

however, saving it could prove to be worthwhile.

 

[audioarsonal 10+ year member]

Its important to bail them out when they knowingly over lended in the first place?I know it was the government telling them they need to be more liberal as far as lending to people with less then perfect credit.I guess thats what happens though when your trying for socializim.

 

[denim 5,000+ posts]

In all seriousness, it could be considered as an investment....they borrow $150B to bring the economy out of possible recession. An investment to improve the general welfare.
I do not think it is a good investment or that an economic stimulus is needed...but I am also going to cash the check just like everyone else.

We are sending all of it to pay towards the house and creditcards.

 

[duece212 5,000+ posts]

We are sending all of it to pay towards the house and creditcards.

I heard some mumbo jumbo about small businesses getting certain tax breaks on investments from this "stimulus package", hopefully that helps you guys out in some way.

 

[denim 5,000+ posts]

I heard some mumbo jumbo about small businesses getting certain tax breaks on investments from this "stimulus package", hopefully that helps you guys out in some way.

It does not get much smaller, but that is great to hear. We don't have any debt, but we do have a great deal that we need to spend. so //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif and //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif at the same time.

 

[Flipx99 5,000+ posts]

We are sending all of it to pay towards the house and creditcards.

That is what I think most people, including myself, will do. I don't think the govt understands this. I think generally people WANT to pay off their debts. My $600 is going to my truck or the market...but they want me to buy some rims, or clothes, or something.

Most of the people I have spoke with feel that the consumer is still cautious and feel that is the highest and best use of the funds. This does nothing to stimulate the economy.

 

[Flipx99 5,000+ posts]

Its important to bail them out when they knowingly over lended in the first place?I know it was the government telling them they need to be more liberal as far as lending to people with less then perfect credit.I guess thats what happens though when your trying for socializim.

I think many of the banks didn't know exactly what subprime CDO, CMS, etcs are. I am telling you...the math to figure out the NPV of those products is extremely tricky. In some of my economic classes, we spent about two hours doing the math to do it. There were so many "guestimates" involved...it was crazy.

 

[snoopdan 5,000+ posts]

I remember about 15 years ago the goverment did something similar,....I remember because I was in college and got a check from the goverment for no reason...was like $150 or some shit - it wasnt much. It looked like a social secuirty check.

I think I bought some booze and threw a party with the money //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[faulkton 5,000+ posts]

i love the government.

they give me free shit all the time.

 

[duece212 5,000+ posts]

I remember about 15 years ago the goverment did something similar,....I remember because I was in college and got a check from the goverment for no reason...was like $150 or some shit - it wasnt much. It looked like a social secuirty check.
I think I bought some booze and threw a party with the money //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

Good for the economy and fun. Great combo!

 

[bigbangtheory 5,000+ posts]

Woot, I just did my taxes today and got back a lot more than I thought. 0riginally thought around 3500, well double that. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

Plus or should say hopefully another 900 in April or May.