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Federal Tax Break - Stimulus Plan Poll

john_denver

By john_denver
in The Coffee House

Federal Tax Break - Stimulus Plan  

99 members have voted

  1. 1. If given a $800 tax rebate ($1600 for a married couple), what would you do with it?

    • Save or invest all of it.
      23
    • Spend all of it.
      12
    • Save/invest part...spend part of it.
      27
    • Pay down debt.
      35
    • Other
      2

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ChiefJoJo Town

ChiefJoJo

Posted
Posted

Yeah, I have to agree with some of the others... so we let the mortgage brokers and big Wall Street multinationals run amok in the sub-prime market, and then in response, we just give a huge tax break (=more debt) to the whole country? Maybe if we paid attention to the root of the problem, we wouldn't be in this mess. We shouldn't allow any of these subprime loans, and we certainly shouldn't be giving away $billions in free money, either. It's obviously the Congress' way of throwing a nice little election year bone to the masses: 'sorry, we know we haven't gotten anything done in the last 18 months, but here's some cash for you., now go out and hit your local Wal-Mart.' Ironically, it'll probably be too late to stop a recession. The Fed has already responded with rate cuts, so let that straighten the market out.

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  • 2 weeks later...
sean Whistle-Stop

sean

Posted
Posted

The drumbeat out of Washington is 'the economy presents challenges but it is not headed toward recession' and my favorite 'inflation and the dollar decline is not a problem'. This sounds eerily like the first week of Katrina when we were repeatedly told 'relief efforts have mobilized and the situation is under control'.

The disconnect is surreal.

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FromCityToRural Hamlet

FromCityToRural

Posted
Posted

Yeah, I don't understand why everybody's freaking out about the economy (actually, I have a theory, but it wouldn't go over too well here). Unemployment's still historically low and even if it gets a bit higher, we're still in strong territory as far as employment goes. The stock market is fluctuating, but not trending down. And exports are improving on the weak dollar. What we have is a correction based on flawed loan strategies, which affects related industries. It's created a great opportunity for homebuying with lower prices and cheap credit without tricky loan terms. Especially with inflation rising, financing dollars are doubly cheap. Inflation should get a little better once the Fed raises interest rates, but the gov't has to stop deficit spending - NOW. Cut unnecessary/redundant programs, slap congressmen who write unnecessary pork barrel spending measures into bills, and bring spending in line with revenues, like anybody else has to. Then cut taxes to keep $$ in our pockets instead of having to issue checks from the IRS.

In short - the economy is strong, it's just being dragged down by debt issues in both the public and private sectors.

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monsoon Gigalopolis

monsoon

Posted
Posted
....Unemployment's still historically low and even if it gets a bit higher, we're still in strong territory as far as employment goes. The stock market is fluctuating, but not trending down. And exports are improving on the weak dollar. What we have is a correction based on flawed loan strategies, which affects related industries. It's created a great opportunity for homebuying with lower prices and cheap credit without tricky loan terms. Especially with inflation rising, financing dollars are doubly cheap. Inflation should get a little better once the Fed raises interest rates, but the gov't has to stop deficit spending - NOW. Cut unnecessary/redundant programs, slap congressmen who write unnecessary pork barrel spending measures into bills, and bring spending in line with revenues, like anybody else has to. Then cut taxes to keep $$ in our pockets instead of having to issue checks from the IRS.

In short - the economy is strong, it's just being dragged down by debt issues in both the public and private sectors.

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monsoon Gigalopolis

monsoon

Posted
Posted

If you need further indication the economy is bad, the government just announced today the country lost 63,000 jobs this past month and this is following loses in January that amounted to 23,000. Considering population growth, the economy should be adding 100,000 jobs just to hold it's own. The average household is now making less than it did in 1999 which is an amazing fall given the apparent mirage that we had had such good economic times.

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