Mo Money!

[JasonF]

economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children

 

http://www.breitbart.com/article.php?id=D8UCDVSO1&show_article=1

[zebgames]

Aren't there enough fights on these forums without bring politics into the mix? =-)

[Daersun]

Considering that 90% of the tax is paid by 2% of the population and the 2% are not getting any tax money back, lets just called this the wealth distribution plan.

 

Wait thats all tax is anyway.... GRRR

[JasonF]

Not really in the realm of politics. Just making the point that the government will be mailing checks to Americans as an economic stimulus.

[HIS-MOTHER]

I don't call $1,200 economic stimulus. I Call it one month's mortgage and utilitiy payment. LOL I do however consider the .75% cut the FED gave a stimuli to our economy, plus it saved the market from being down 400 to only 150 at the end of the day.

[DougK94]

I wish $1200 covered my mortgage and utility costs. LOL

[JasonF]

Winter is hell on my utility bills. I have 2 standard heater units (2.5 ton and 2 ton), no gas heat or a heat pump so my electric bill is usually around $300/month during the cold months.

[jbiloh]

I don't call $1,200 economic stimulus. I Call it one month's mortgage and utilitiy payment. LOL I do however consider the .75% cut the FED gave a stimuli to our economy, plus it saved the market from being down 400 to only 150 at the end of the day.

 

The FED made a mistake by cutting the funds rate. They are playing fiddle to a market which is in desperate need of a full "flush." This temporary "fix" will only make the ultimate situation worse. When the FED really needs to step in to push forward a real economic recovery they'll have less weapons, given the already low funds rate.

 

But then again, lets make sure no one really looks at the economic data - credit card charge rates up 27% year over year (when compensated for cash reduction yoy).

 

Lower middle class American consumers putting it on the plastic. Nice!

[bfarrell]

Didn't Dubya and his administration implement something like this a few years back when we were on the brink of (not nearly as close, of course) to a recession with mild success? By mild success I mean sparing us from economic turmoil, similar to what we're seeing today...

 

Alas, despite the hoo's and ha's, hisses and hearts, some action is better than no action, and heck, its $600 I didn't have before

[jbiloh]

Didn't Dubya and his administration implement something like this a few years back when we were on the brink of (not nearly as close, of course) to a recession with mild success? By mild success I mean sparing us from economic turmoil, similar to what we're seeing today...

 

Alas, despite the hoo's and ha's, hisses and hearts, some action is better than no action, and heck, its $600 I didn't have before

 

The Clinton recession was a full blown post 2000 (tech bubble burst) economic down turn. In fact this "recession" isn't so, yet.. in order for a recession to be classified as such, the market needs to pull back by 20%.

 

I could go on forever, but I will go to bed with this thought:

 

To those getting a refund, spend it on servers, http://www.colocrossing.com.

[Defcon|Rich]

In light of all the other tax hikes we've been enduring I think this pity payment is long overdue..

 

Vet, You should try living in CT where they systematically push up rates every quarter. Some going up 50% or better..

[JasonF]

I was reading an article about which state had the most millionaires / state population. CT was number 3 if I remember correctly. I guess they think the CT residents have the money. Just for poops and giggles, the #1 state was New Jersey.

 

Also, I feel for the next president. Who ever it is, is going to inherit a poor economy and they will be blamed for it regardless of what they do or what happens.

[Defcon|Rich]

The reason for CT and NJ being ranked high is a good portion live here/there and work in NYC.

[zebgames]

Actually a recession is classified by two consecutive quarters of negative GDP.