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  • Economic Stimulus?

    Just listened to the President announce the signing of the "Economic Stimulus Package", must have been tough for him to discuss this serious time and corrective measure. I think it's a bandaid on a life threatening wound. I don't know how many jobs it will help create, but I'm sure that good jobs continue to leave our economy as they have for years. Why not repeal NAFTA and pass some laws to keep jobs here? There was no mention of securing our borders and dealing with all the illegals impacting our economy. I'm hoping to get a good woodburning stove to help heat my home for next winter, the refund will help. I can't see things turning around unless the price of gasoline, diesel, heating oil and other essentials goes down instead of continuing to climb. Maybe there will be more refunds but it's like giving money to a homeless guy, unless you change his circumstances you got to keep giving him more and more money. Good luck to all, you're gonna need it!

  • #2
    Re: Economic Stimulus?

    I think this e-mail I just received goes along with this post:



    FAIR WARNING EVERYBODY !!!



    I don't usually pass on political advice or info, however we had all
    better wake up and start paying attention!

    This morning, Pakistani, Taliban Minister of Migration,
    Mohammad Omar, warned the United States that if military action against
    Iraq continues, Taliban authorities will cut off America's supply of
    convenience store managers.

    And if this action does not yield sufficient results, cab drivers will be
    next, followed by Dell Computer customer service reps, AOL Help, Motel 6
    managers, and liquor store cashiers.

    Who knew it would come to this. It's getting ugly.

    Comment


    • #3
      Re: Economic Stimulus?

      Funny, but it could just as well be true.

      Comment


      • #4
        Re: Economic Stimulus?

        Well my wife and I were hoping for a big fat check from the government but looks like we are being punished for making over the threshold ($50 less per $1,000)

        Sorry honey, no matching front loading washer and dryer for the laundry room

        Maybe just a plain top loading washer manufactured in China

        Just how does that stimulate the US economy anyways?

        Comment


        • #5
          Re: Economic Stimulus?

          I saw a recent news item which concluded that most people were socking away their part of the package or putting it on existing debt.

          The economic stimulus is supposed to do just that, stimulate the economy with new purchases. If everybody is saving and not buying..........?
          I'm on "The List" and I love it!!

          Comment


          • #6
            Re: Economic Stimulus?

            Originally posted by tinmack View Post
            I saw a recent news item which concluded that most people were socking away their part of the package or putting it on existing debt.

            The economic stimulus is supposed to do just that, stimulate the economy with new purchases. If everybody is saving and not buying..........?
            I don't understand it myself. Chances are if you buy something with it the money goes to a corporation and in part to some third world country, how does that help our economy? What exactly could we spend it on to make a difference? I keep thinking of ways to spend less, not that it's helped much so far. I hope the woodburning stove works out or else it's gonna be a bad winter next year. I wrote into my local paper and suggested folks install more efficient burners on their oil boilers. Hey at least some heating guys will make some money.

            Comment


            • #7
              Re: Economic Stimulus?

              Originally posted by tinmack View Post
              I saw a recent news item which concluded that most people were socking away their part of the package or putting it on existing debt.

              The economic stimulus is supposed to do just that, stimulate the economy with new purchases. If everybody is saving and not buying..........?

              While I am no economic whiz kid, I can offer a small explanation...

              1. First off, if you read the actual bill, those that owe money on thier income tax (tax liability) will get the amount that they owe refunded (up to the said $600/1200/etc.). If you received a return on your income taxes, you will be given an "advance credit", which will be filed on your 2008 income tax. (Not sure yet if the credits will have to be paid back to Sam, have to wait until the 2008 and beyond tax laws come out).

              2. While the stimulus is primarily to aid in new purchases to boost sales and CPI, those who choose to apply it to established debt will have a positive effect as well. Anyone remember what started this whole "recession"? That's right, people spending too much and defaulting on thier loans/mortgages... So, if those in debt pay off some of that debt, they'll be able to spend more elsewhere. It's all just pushing numbers around.

              3. Most of the media made only small, if any, references to the business side of the bill. Things like being able to claim an extra 50% on depreciation of new plants/equipment on thier 2008 filings, and a $50K increase on another deduction (escapes my mind right now which item). So, these are supposed to entice businesses to continue "attempting" to grow, since more of their guaranteed and/or potential losses may be written off. Although, I didn't read any stipulations on whether the plant/equipment had to physically be in the US. Probably doesn't matter, which I feel would be a mistake....

              Like many have said, this is just a bandaid. American citizens need to help this situation as well. On a lighter note, oil hit $100 a barrel today.

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