Yep - I'm no economist, but by my calculations they are running out of room to manuever, with perhaps only 3 or 4 more rate cuts possible, what are they gonna do when the Dow keeps going down? I can see it now - "After previous failures to stimulate economy, Republicans and Democrats reach agreement on $1,000,000 rebate check plan for all Americans. Checks should arrive just in time for Christmas shopping season."
Maybe they will, but this will help pay down my debt. Damn student loans are going to whip my ass in a few months. I'm putting my money in your company.
This is going to sound really bad, but this money is welcome in my home because I'm not going to get a raise at work this year. Thank you, new CEO....and old CEO for that matter.
I just don't understand the logic in politicians using deficit spending to 'help' americans who used too much deficit spending to fuel their lifestyles...
Theoretically, since it comes out of the Treasury, it does come out of your taxes, but you shouldn't have to claim the $600 bucks on your tax return as income.
Free Money for Some! It's not free money. My wife, two kids, and I are paying for it since we won't get jack squat. Thank you cards aren't necessary. And it's not a "rebate" if you're not paying income taxes in the first place. It's a gift.
I switched a big chunk of my money into Canadian dollar when it was around $1 USD=$1.25 CAD. But I did switch it back at $1 USD=$0.90 CAD. It probably will stay around parity. I don't trust any international market beside China but unless you got in when Shanghai Index was at 2,000, things are too expensive and cannot sustain short and mid term. But long term to load Chinese blue chips if Shanghai drops to 3000-4000 range is great. Oh, also loaded the houses in mid size of cities in China. Not Shanghai and Beijing where properties are ready to drop.
For 2005, the top 10% of US taxpayers provided over 70% of federal income tax revenue. Percentiles Ranked by AGI - AGI Threshold on Percentiles - Percentage of Federal Personal Income Tax Paid Top 1% - $364,657 - 39.38%Top 5% - $145,283 - 59.67%Top 10% - $103,912 - 70.30%Top 25% - $62,068 - 85.99%Top 50% - $30,881 - 96.93%Bottom 50% - <$30,881 - 3.07% Note: AGI is Adjusted Gross Income Source: Internal Revenue Service It looks like the bottom three quarters needs to write a "rebate check" to the top one quarter.
It's an "economic stimulus" package, not a "fatten rich people's wallets" package. I'm pretty sure it's not really going to work, but giving money to people who will spend it rather than stick it in the bank will have a better chance at kicking the economy in the butt. "Trickle down" doesn't work; that's pretty well established by now.
I'm not a proponent of trickle down. I'm a proponent of people being able to benefit from their own good choices. A better fiscal policy would be to take the $150 billion rebate checks and rebuild some of America's physical infrastructure. Instead, they'll spend it on cheap plastic crap.
Well, I'm happy to accept the government's money but I hope the Senate manages to sneak in some more unemployment and food stamp benefits.
Everybody I work with plans on spending that money as soon as they get it. And it's not going to be used on credit card debt. At least in my little world, it's going to go right back out to the economy. For myself, I'm getting ready to take the family to Hawaii next month. This money is a welcomed surprise since my corporate overlords have decided the screw the whole company this year.
Is there a shortage now? What is your ultimate goal in how much food assistance and unemployment benefits should be doled out? I hope if that unnecessary nonsense comes up that this whole package is filibustered until it is tabled. Food stamps and unemployment are not economic stimulants.
I would maintain that people who have enough to eat are going to be more productive. Also, what's the difference between tax rebate money spent by a working person, and unemployment benefits spent by a non-working person? They both have the same effect on the economy. It's not like the rebates proposed in the stimulus package somehow encourage people to work harder.