Economic Stimulus Plan

[DaemonSeid]

Originally Posted by AlethiaSi

I've heard a variety of things about this, whether it will work or not, is debatable apparently. I'm still trying to figure out the "facts"
I saw this on cnn.com and thought it was interesting



So, does that mean that most of us that make up to $75,000 get money? ......

Alethia...you know that is the first great lie

"The Check is in the Mail"

and...

even if we do...they will still find another way to take it out of our pockets...higher taxes or get us at the pumps

[AlethiaSi]

Originally Posted by DaemonSeid

Alethia...you know that is the first great lie

"The Check is in the Mail"

and...

even if we do...they will still find another way to take it out of our pockets...higher taxes or get us at the pumps

lol, true true, I was just looking for more information and/ or perspective about this....

[UGAalum94]

This actually makes me mad, which is not to say that I'll be sending the money back.

If they have the money to return as an economic stimulus and they don't really need it for other government functions, maybe they shouldn't have taken it in the first place.

[preciousjeni]

No y'all... they likely will send the money out to folks because they know most of us are idiots who will say "Ooh $1,200?!?!?!" And then go spend $3,000. That's what they're counting on.

They only need to mask the decline of our economic state until the elections are over.

And -

Originally Posted by UGAalum94

If they have the money to return as an economic stimulus and they don't really need it for other government functions, maybe they shouldn't have taken it in the first place.

Are you kidding? What do you think tax refunds are? It's money that the IRS has withheld from you for profit. Then, you get it back at the end of the year with no interest. That's quite a deal for the IRS! A no interest loan to the government compliments of the tax payers.

[KSig RC]

Originally Posted by preciousjeni

No y'all... they likely will send the money out to folks because they know most of us are idiots who will say "Ooh $1,200?!?!?!" And then go spend $3,000. That's what they're counting on.

They only need to mask the decline of our economic state until the elections are over.

There's no need to get your tin-foil hat on - there are enough problems with this plan without any conspiracy theory.

The amount being pushed out the door is inconsequential compared to the overall market decline - there's your starting point.

Originally Posted by preciousjeni

Are you kidding? What do you think tax refunds are? It's money that the IRS has withheld from you for profit. Then, you get it back at the end of the year with no interest. That's quite a deal for the IRS! A no interest loan to the government compliments of the tax payers.

This is only true if you schedule your own taxation in this fashion - you have literally dozens of other options, from quarterly payments to non-payment, that would allow you to not give an interest-free loan to the government.

In short, you have no one to blame but yourself if this is true.

[preciousjeni]

Originally Posted by KSig RC

This is only true if you schedule your own taxation in this fashion - you have literally dozens of other options, from quarterly payments to non-payment, that would allow you to not give an interest-free loan to the government.

In short, you have no one to blame but yourself if this is true.

I generally owe at the end of each year. But, how many people really know this is how it works? I'm talking about the general public that unconsciously turns money over to the government and has no idea what happens to it after that.

[AlethiaSi]

Thank you to EE-BO and everyone who responded about this, I'm still pretty confused, no matter how many times my dad tries to explain it to me, I understand the basics about the ARMS and credit crunch but it's so comprehensive, it's overwhelming I guess, also because I have so many other things that I'm worried about....
Idk if any of you are interested in this, but my dad works for Bloomberg and wrote a series of articles about most of this stuff, just thought i'd pass it along. Plus, i'm pretty proud of him, even if I barely understand what it is all about.
Merril Lynch plans to write off ACA Bond insurance

updated 2

update 3

Hedge fund

subprime securities market began as "Group of 5" over chinese

[skylark]

Originally Posted by UGAalum94

This actually makes me mad, which is not to say that I'll be sending the money back.

If they have the money to return as an economic stimulus and they don't really need it for other government functions, maybe they shouldn't have taken it in the first place.

I'm pretty sure the government isn't lying around with a bunch of cash reserves that they could send back to all of us. The "refund" really just inflates the deficit, so for those of us that are out there that are younger, this "refund" is in some ways just a long term loan. We'll all have to eventually pay down that debt, some of us more than others... but I just wanted to point out that it isn't as if the government is adding up the money they DIDN'T spend from year to year since every year we're still spending more than we have (even before this economic stimulus plan).

I personally think that more money should have been given back, but to people in lower brackets. If you're a single making 60K or a couple making 120K, I don't think you're in a position to need the "economic stimulus" as much as someone making half that.

[UGAalum94]

Right, I get that.

My point is when "they" can throw money back to us, it ought to be harder for them to make the case that we shouldn't keep more of our money to spend generally and keep the economy robust all the time.

If they don't really need the money now, why should I accept that they need it ever? Make cuts in programs to reduce the deficit if paying for the programs as you go isn't really necessary.

And I think most people understand that they can set up their withholding to come pretty close to matching what they owe. I think a lot of us would rather give them the free no interest loan rather than run the risk of owing. It's our own fault.

This tax us but then decide to give some money back as a stimulus thing is beyond our control.

[SAEalumnus]

*If* I end up getting a check in the mail, I'll be surprised if it covers more than a tank of gas.

[texas*princess]

I've read on some website (cnn maybe?) that the checks could take as long as May to reach the taxpayers.

How exactly is that a stimulus if it is still several months away?