So, Bush's new economical plan.

[SovXietday]

http://www.msnbc.msn.com/id/22730866/

Thoughts?

IMO, I'm all about getting a couple hundred books free no strings attached from the gov't. :cool:

[Cardriverx]

I think its ignorant to believe that up to $800 is everyones pocket is going to save the economy. The problems are way bigger than that. $800 will not solve the decrease in consumer confidence, or the manufacturing decrease.

Its a bad time to be hemorrhaging money in a war, decreased taxes, and now this "stimulus package"

Of course I wouldent mind the cash, but this is a prety dumb idea..

[igo4bmx]

Hopefully it gets decided that only lower class households should receiving this- no point in giving trump $800 bucks in the mail.
Also this should be delivered in a method like food stamps to prevent unlawful spending- how can buying illegal drugs stimulate an economy?

[SovXietday]

Hopefully it gets decided that only lower class households should receiving this- no point in giving trump $800 bucks in the mail.
Also this should be delivered in a method like food stamps to prevent unlawful spending- how can buying illegal drugs stimulate an economy?

From what I read it looks like they might do the food stamps thing for people under the poverty line and situations like that.

They also said that people with low incomes who payed taxes to social security etc would be getting the full refund, IE, probably a lot of kids.

[OptiCon]

how can buying illegal drugs stimulate an economy?
By increasing job opertunities in anti-narcotics agencies? :mrgreen:

[james_ls]

By increasing job opertunities in anti-narcotics agencies? :mrgreen:

Got there before I could say it. LoL.

I'm down for some free green. At this point, it's so effed up, not really sure if anything will "work."

[CleanNeon98]

Im definately for getting 800 bucks from the govt. Would certainly help pay for school, or books, or insurance, or the whole malarchy I call life

[SovXietday]

Agreed, I don't think I'm buying books this semester, I didn't use ANY of them last semester... lol.

[The Captain]

You do all understand that this is a completely short term solution and hurts us so much more in the long term. This is simply to make the end of bush's final term a little less of a failure, by making the economy look alright at the end. However, in the long run, the increased debt that our nation will be in (including the interest we'll have to pay to other counties when they buy our treasury bills to fund this 140bil., making this a lot more then 140bil) and the inflationary factors associated with increasing the money supply by 140bil COMPLETELY ruin any short term effects cause by this unchecked abuse of power.

[9 Ball]

Hopefully it gets decided that only lower class households should receiving this- no point in giving trump $800 bucks in the mail.

Agreed. Besides, these days $800 can barely pay for anything – certainly not enough to stimulate an economy.

[90Laser]

Got there before I could say it. LoL.

I'm down for some free green. At this point, it's so effed up, not really sure if anything will "work."

What? Please elaborate on that last part.

[CleanNeon98]

Hopefully it gets decided that only lower class households should receiving this- no point in giving trump $800 bucks in the mail.
Also this should be delivered in a method like food stamps to prevent unlawful spending- how can buying illegal drugs stimulate an economy?
Hopefully it wont be all of the over-reproducing, lazy, dirty, drugged up, and useless mother****ers that we have sitting on welfare and sucking the life out of other government funded programs.

[igo4bmx]

Agreed. Besides, these days $800 can barely pay for anything – certainly not enough to stimulate an economy.

yeah now since I own an evo I know that can't get you crap! hahahah

[Snowboy459]

I'm gonna take a shiiit on that refund check and mail it back to Bush.

[igo4bmx]

I'm gonna take a shiiit on that refund check and mail it back to Bush.
this will never happen.

[Snowboy459]

this will never happen.

yeah, your probably right.

I'll take a shiit on it and mail it to you then.

[lawdogg]

We have no money, so we'll take a ton of $ from the income we DID generate, give it the people, who will go out and spend it on foreign TVs and cars, great way to lose it all double.

[igo4bmx]

yeah, your probably right.

I'll take a shiit on it and mail it to you then.

if you do can you sign the back of the check ? :-p

[Snowboy459]

if you do can you sign the back of the check ? :-p


lol, you got it buddy!

[Scapegoat]

We have no money, so we'll take a ton of $ from the income we DID generate, give it the people, who will go out and spend it on foreign TVs and cars, great way to lose it all double.

yet all that foreign stuff is taxed more than the locally made stuff before it hits the shelves... then its taxed again when we buy it...

[poolmike]

I don't care what anyone says. I want MY money back. I earn it. I hand a buttload of it over to the feds so they can abuse it. I'll take back whatever I can, no questions asked.

[jules]

don't worry what will happen is the "foodstamps" or family first cards r the same as cash. "taxless groceries" i've had people tell me 5 for 15 i was like wtf? u use their card and bam crack money !!!!!! f it that money is going to gas and bills so it doesn't matter anyway i can't spend it...

[james_ls]

What? Please elaborate on that last part.

It's gotten to the point where money has damn near NO value.

We need more, we make more; we need less, we destroy it.

They are just making the numbers up at this point...we are damn near BEYOND "repair."

It's really not going to do anything...

[NJGOAT]

The money will stimulate the economy short term. A vast majority of the US economy is fueled by consumer spending. The problem we have is that the consumer spending is fueled for the most part by credit and people cashing out the equity in their homes. This has led us to where we are today. The real problem though is the constant slashing of interest rates by the fed. This is one of the primary reasons why US currency has become so de-valued. The slashing of interest rates and putting money in people's hand all continue to revolve around the same principle that consumer spending is what drives our economy.

I personally think that we are headed for a big time recession. However, I think that a recession is a good thing right now. People need to take the money they have and use it to pay down their debts, same goes for the government. Only a hard hitting recession will really wake people up and change the way that we treat money. Hoepfully the end result of a recession would be an adjustment in housing prices back to reasonable levels and a reduction in personal and federal debt. The end result of all that would be the dollar regaining strength.

If you're planning a purchase (except maybe a house) now is the time to do it. Pay down those credit cards quick and get ready for some tough times. Interest rates really can only go up from here and the stock market and housing markets are both do for a big reset.

So, in conclusion, what Bush is proposing won't hurt us, but it is only a temporary fix for a much larger issue. The economy is overheated and has been for a long time, fueled by consumer credit spending and now it's time for a reset.

[SovXietday]

^ Truth.

And then, once the ressession is over, the exact same thing will happen over and over again. Because we are America, **** yeah!

[BradC]

^ Truth.

And then, once the ressession is over, the exact same thing will happen over and over again. Because we are America, **** yeah!

Sadly, you are most likely right.

[dragonfly2k3]

As with what everyone else said, we are in for a recession. There really is no other way about it, Housing value has fallen off the face of the earth, interest rates are going up, and the value of our dollar is going down. The other thing is, PA had a raise in minimum wage, but that only affects minimum wage workers in a positive way, and totally ****s people making above minimum but not excessive(ie: $8-$12) because now the employers are charging more for their goods/services, and we never got a raise. wtf.

[EvlEgl]

If it does infact go through Mine would go straight to the CC. as NJGOAT stated Getting my debt down is the biggest factor in life right now (Even though I can spend money like no other) but honestly I dont let it bother me that much because I myself cant change or make any of this better its all in the hands of overpaid underinformed politicians who probably have no idea whats its like to live life the hard way these days.

[SovXietday]

If it does infact go through Mine would go straight to the CC.

Same here, it will help pay off my loan. Which honestly I think is the point of this. It's a good thought, that's $800 less dollars of debt I'll be in.

[EvlEgl]

yep, I got 2600 left to pay off on my loan Cant wait till its paid off

[italianblaze]

ill spend 800$ on my credit card then pay it off wit the gov's 800 and get a better credit rating? lol

[drew]

how likely is it that we'll get this 800?

[ITSTOCK]

X2. However, I don't think that we are headed for a "big time recession". We are currently headed toward a mini-recession. If these temporary "band-aids" continue (i.e. GOVERNMENT BAIL-OUTS, what a joke), THEN we will be headed toward a "big time recession". Let the recession happen, let the market readjust itself, and lets get back on track. We NEED a recession.


The money will stimulate the economy short term. A vast majority of the US economy is fueled by consumer spending. The problem we have is that the consumer spending is fueled for the most part by credit and people cashing out the equity in their homes. This has led us to where we are today. The real problem though is the constant slashing of interest rates by the fed. This is one of the primary reasons why US currency has become so de-valued. The slashing of interest rates and putting money in people's hand all continue to revolve around the same principle that consumer spending is what drives our economy.

I personally think that we are headed for a big time recession. However, I think that a recession is a good thing right now. People need to take the money they have and use it to pay down their debts, same goes for the government. Only a hard hitting recession will really wake people up and change the way that we treat money. Hoepfully the end result of a recession would be an adjustment in housing prices back to reasonable levels and a reduction in personal and federal debt. The end result of all that would be the dollar regaining strength.

If you're planning a purchase (except maybe a house) now is the time to do it. Pay down those credit cards quick and get ready for some tough times. Interest rates really can only go up from here and the stock market and housing markets are both do for a big reset.

So, in conclusion, what Bush is proposing won't hurt us, but it is only a temporary fix for a much larger issue. The economy is overheated and has been for a long time, fueled by consumer credit spending and now it's time for a reset.

[SovXietday]

how likely is it that we'll get this 800?

From what I'm reading... pretty likely.

[poolmike]

Didn't Clinton do this when he was getting serviced errr... in office? I seem to recall getting a few hundred dollars back when he was around.

I really hope I get my $$$ before April 15 so I can hand it right back.....

[scutzi128]

Wait so is this to each family or each individual? How does this work? Excuse my ignorance I don't do my own taxes.

[poolmike]

$800 to every adult taxpayer I believe.

[NJGOAT]

$800 to every adult taxpayer I believe.

$800 to each dependent tax payer, with a $1,600 max to each family. You better hope that none of your parents still claim you as dependent on their taxes, or you won't be getting a dime.

So, I will be getting $1,600. I claim myself, my wife and my son as dependents. That would be $2,400 in credits, but the cap is $1,600 per family, so that is what I will get.

[scutzi128]

Well I still live with my family so we will be capped at 1,600 anyways.

[NJGOAT]

Well I still live with my family so we will be capped at 1,600 anyways.

Actually, you won't. The cap is for dependents. Legally the government considers a family to be the individual, their spouse and any dependent children. As long as your parents don't claim you as a dependent you will get the money. The family cap is their so that people with multiple kids (or dependents) don't get an excessive amount of money back.