THE economic stimulus thread

[DinoDoc]

You seem kinda greedy, Kid.

[Kidlicious]

Originally posted by Arrian


So, um, yeah, no rebate for us. Which, again, I'm not whining about.

-Arrian

I would get $600 thanx to the Democrats, otherwise it would be nothing.

[Ramo]

The money isn't going to the most liquidity-constrained parts of the economy. As Krugman points out, it should be going to things like aid to state and local gov't's, food stamps, and unemployment relief. The point of a stimulus package is to get people to spend, not save.

[LordShiva]

Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.

Oh well, I don't think foreigners are eligible, anyway

[Kidlicious]

Originally posted by Ramo
The money isn't going to the most liquidity-constrained parts of the economy. As Krugman points out, it should be going to things like aid to state and local gov't's, food stamps, and unemployment relief. The point of a stimulus package is to get people to spend, not save.

We could put it in envelopes marked spend me please and leave them in public restrooms like that Japanese are doing.

[Whoha]

fear not, most of the money will leave the US economy quite quickly.

[Kidlicious]

It will probably pay for itself as far as the budget deficit is concerned. Also I doubt that it will increase the trade deficit much.

[Lancer]

Originally posted by Theben
Apparently the package would be ~$600 per individual and $1200 per couple, plus $300 per child. It would arrive about June, assuming the fiscals don't gear up to fight it.

http://www.cnn.com/2008/POLITICS/01/...lus/index.html

There's one airline ticket.

[rah]

I'm sure a lot of the ultra poor people will just go out and give it right back to the government by buying lottery tickets.

[Patroklos]

Are they serious? THIS is serious? :lo:

I don't know what day these checks will be given out, but it will be the biggest days Red Lobster and QVC ever had. Buy stock

[Lancer]

One of your lols is feeling a little lo.

[Zkribbler]

Originally posted by Whoha
fear not, most of the money will leave the US economy quite quickly.

I'm using mine to buy some of those cute lead-coated toys from China.

[Dinner]

I'll be paying down my credit card. :\

[Flubber]

Originally posted by Kidicious


That's just wrong. I can't believe that you don't see that. $1000 isn't that much to a person who makes that much money.

if "that much money " is talking people making say between 100 and 200K I know that $1000 isn't huge but it will almost certainly get spent if given in a lump sum. A grand?? If I got an extra thousand out of the blue I would buy skis, boots and bindings for the missus and then fund an overnight ski excursion. Without that new 1000 I won't because ITS NOT IN MY BUDGET.

I budget and have already saved a percetage of my income ( comes off every cheque ) and allotted money for the mortgage, kids college funds and all the day to day stuff. If you suddenly say I get a grand I didn't expect, hell yes I will spend it. -- and most people I know are the same. Most people in Alberta were making good money when the 400 per person came out- yet the electronis stores did a booming business with a number of products aimed at the 400 and 800 price levels.

I experienced a payout in Alberta so I KNOW what happened here. It will obviously be somewhat different in the States but I still think the impact of bonanza cash for most people is an impulse to spend.


So

1. If you are saying an upper middle-class person won't spend a bonanza cheque I believe you to be wrong-- I witnessed what happened in Alberta-- Its partly psychology-- its like people give themselves permission to be frivolous with this bonus money

2. If you are saying the money will "mean more" to poorer people, I take that as obvious. IT would be a much greater proportion of their income and they are more likely to NEED to spend it on things that are more akin to necessaries


Kid-- I don't mind a program that gives a bit more to the poorer people as a way to help them out-- That can be a laudable goal-- But I reject the idea that people as obviously middle class as those that earn 100-200K would not spend the money on immediate consumption just as much as people below that figure. My view is that the only real diffeence is the types of things that are bought and you would see similar proportions in the spend and save categories for all income levels apart form the very wealthy and the very poor ,

[Kidlicious]

Flubber,

I'm a tax preparer. I know for a fact that not everyone is going to spend unexpected money. Some people save it, or just don't care enough to make any decision at all about it because it's just not enough to get on their radar.

You've already admitted that Bill Gates wouldn't care about a tax rebate because he's too rich. A person who makes 150k a year might care more, but it's not likely that they care much at all, and the money would just be neglected. It would just be added to what they have and not thought about much.