With our $2100, we are getting our house painted. China really gets the most of this "stimulus" package since nothing is made in the US anymore. It really is a "stimulus" package, but for the Chinese economy, not ours.
So what do you win if your prefered console sells more than another?
TheRealMafoo said:
It pisses me off even more that I made to much. I don't get one either. I hope people realize this is not free money, it's a credit on next years taxes. You will get 600 less in 2009. (for your 2008 taxes) As for the healthcare issue in this thread. Mine is free with my job. We live in a classless system. You want what I have, go to school and work for it. It's available to everyone who applies themselves. I didn't grow up rich, or with any advantages. I just worked hard to get where I am, and other then handicapped people, any american can achieve what I have achieved (millions have achieve more). I tire of hearing what this country is supposed to do for you. This country has built a system that allows you to do for yourself. If you don't take advantage of it, there is no one to blame but yourself. |
QFT.
@RocketPig: I probably would be, but I don't have HBO.
I love history, though.
The idea is to get money into the hands of those who will throw it away right away. If you give $600 or $1200 to a family that's making $150K, it won't affect their spending, because it's not enough money for them to change their behavior over. They're not going to say, "oh, goodie, now we can go have a really nice dinner and spend some time at the spa now that we finally have money!"
If you can get this money into the hands of people making $30K ($15/hr) or less, you'll have a much higher chance that they'll get the money and then go out and spend it on something they would not have otherwise bought. These are the exact people the government targets with this money. At that income level, $600 (or $1200) goes from being a couple days worth of income to the families and individuals on the edge of receiving the money to a over a week worth of income. That's enough to affect spending.
Also, there is confusion in this thread on how the package works. It's an advance on an *additional* 2008 tax break. So it's money the government is going to give you back on your 2008 taxes which you'd normally get in early 2009, but because they want it to help the economy now, they're giving it to you in advance.
TheBigFatJ said:
They can also turn your debt into wealth with just the money you make right now. It doesn't matter how much debt you have! You can sometimes settle debts for less than you owe because it is better for your creditors to get 60% of your debt from you, then it is for them to sell your debt at 40% of its value. This doesn't mean it's not bad for you to do so, and it doesn't mean you can rack up a bunch of debt and get away from it. Consider it like declaring bankrupcy-lite -- you work with your creditors to restructure your debt rather than them selling your debt at a fraction of its value to a collections agency, who then pursues getting the money back from you. It will crush you credit rating, and potentially cost you thousands of dollars in future car/house loans (since you'll get less favorable rates). And, of course, there's the whole subprime mortgage fiasco where banks are working on restructuring loans so that people can afford them, even if the bank/investors take a loss doing so. Banks can't simply take houses and dump them on the market at 90% of their value and see them get snapped up, because no one is buying houses right now. So it is in their best interests to restructure loans for people to afford, take no profit or perhaps even a smaller loss then they'd otherwise take trying to foreclose then sell the house. I can't decide wich is better, so I guess I'll just build my PS3 library up. I get $900, by the way. If I had to spend my stimulus money on something instead of just putting it into short-term savings, I'd probably buy a cheap camera lens. Then again, I don't currently want any cheap camera lenses. |
My post was in response to the people talking about the governments debt and trying to support health care and crap on page one and then the gov goes and settles a $480,000 tax debt that someone decided not to pay for $800. The government really needs to go fix the tax system when that is happening and talk is going around now that the first three months of every year all the money people will earn is going straight to the government and you are left to make do with a years worth of bills with 9 months worth of pay.
I'll be getting 1200 and I've already spent all of it on an HDTV, PS3, and a new couch. I'll be paying off the credit card I used to get all of it before it was in my account. So...
| d21lewis said: Sixty $10 hookers! Six $100 hookers! I can't decide wich is better, so I guess I'll just build my PS3 library up. I get $900, by the way. |
It would have been better if you had called them Hooker-bots but great Futurerama quote in any case.
I was considering Rock Band for the Wii, but that can wait a loooong time until I actually have the time to enjoy it. I think this will pay for Wii Fit and then the rest will go straight into my savings account and pay for rent and help me move this summer.
I'll get an iPhone when 2 generation comes out in June.
On topic: I'm sure this will help console and games sales at least little. Maybe 20% increase for a month after people receive check.
^Guy pissing on Microsoft Sign
| HappySqurriel said: With the cost of gas and food I wouldn't be too surprised if most people put it in the bank and use it for daily expenses. |
I would. This is America.
Heck i'd probably feel compelled to buy a PS3 if I qualfied. Due to it feeling like birthday money. Well that and the point is your supposed to spend it. If the government could they'd give you a 600 dollar gift card.
Mostly a PS3 just because it lines up just about right price wise. I mean I could get 11 or so Wii games, since there are at least 12 I want... but i've already got a bottleneck of gaming going on.
| TheBigFatJ said: It pisses me off even more that I made to much. I don't get one either. If you're making $150K/yr, why worry about a tiny stimulus? |
I am not making 150k a year, I am single, and making in the 80's. Thanks to the huge amount I pay in taxes, $600 is still kind of a big deal to me :p
I do realize however that I am going to get the same amount in the end, and in truth, i buy what I want, so it's not going to stimulate my spending.
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