THE economic stimulus thread

[rah]

I'm in that 100-200 range and based on my experience, it will be spent. If on one of my infrequent gambling jaunts ( I always assume I'm going to lose whatever I bring to lose) I win, that money is considered found money and I'll buy a treat for myself. (last time it was a wide screen monitor for my computer) I'd treat a rebate the same way (I did the last time also) Just hoping with all the calculations that I qualify. It will be close.

Just another example for those saying one mans thoughts are insufficient. All of my similar income friends also spent the money the last time quite quickly. These are the types of purchases that are more likely to stimulate the economy instead of poor people using to pay their back rent, buy food, or as stated before, lottery tickets.

Overall I still feel just a minor impact, and is more for show and bribe effect.

[pchang]

Cupertino

is a suburb about 45 miles south of San Francisco.

[DinoDoc]

Well never mind then. If you actually lived there, I would have said that was the reason you didn't feel rich.

[PLATO]

Originally posted by Kidicious
Does anyone actually believe that they are serious about stimulus though. I think it's just politics at this point. If and when they do decide to really stimulate the economy the **** will surely have already hit the fan.

Exactly!

If they wanted to restore liquidity to the market in a heartbeat they would buy the $100 billion in loans that have been written down and then announce that they were going to buy $50 bllion more on the secondary market. That would stimulatethe hell out of the lending industry.

Oh...Not to say that I condone bailing out investors that made stupid investments, but it would stimulate the economy for sure!

[Arrian]

Being rich isn't just about income. One could have high income but high cost of living and debt, and therefore not be rich, IMO.

-Arrian

[DanS]

I've always been amazed that Dems never demonstrate an understanding of a key piece of their coalition. By capping at 75k/150k, they are excluding much of the urban middle class (Dems), but including much of the exurban/rural rich (Republicans).

[Jon Miller]

Unlike republicans, democrats are just mostly about the money.

JM

[Imran Siddiqui]

Originally posted by DanS
I've always been amazed that Dems never demonstrate an understanding of a key piece of their coalition. By capping at 75k/150k, they are excluding much of the urban middle class (Dems), but including much of the exurban/rural rich (Republicans).

Yes, but the urban middle class may feel better that the tax rebates are going to lesser incomes, so it doesn't feel like a tax cut for the rich.

[Arrian]

Unlike republicans, democrats are just mostly about the money

edit: laugh's on me for poor reading comp. Heh.

-Arrian

[Arrian]

Yes, but the urban middle class may feel better that the tax rebates are going to lesser incomes, so it doesn't feel like a tax cut for the rich.

And urban middle class types who feel that way are ... (drumroll) mostly likely democrats.

Those who don't see it that way are probably republicans.

-Arrian

[Flubber]

Originally posted by Kidicious
Flubber,

You are only one person, so yes I'm discounting your experience since it doesn't really say anything about most people. .

Are you paying attention? What I related was not only about me but it was the vast majority of people around. My wife is a nurse and it was her circle too-- All employed people with incomes ranging from 40-200K. Pretty much everyone treated it as found money and an excuse to get something as a "treat".

Rah is now relating the same thing. Its anecdotal and subjective but both exaamples are real and eevry bit as persuasive as your " its common sense" argument that people in this income bracket won't spend

Hell I could argue that we are the most likely to spend-- I know that budgetting is everything and pretty much any time an unexpected amount pops up we find a reason to "treat' ourselves. Why? Because you are using your self discipline and not treating yourself all the time spending the equity in your home or taking a trip instead of putting enough away for retirement

Originally posted by Kidicious
Flubber,


Also, I know that wealthy people will spend most of their money, just not as large of a portion of it as less wealthy people will. Also, generally speaking money is more valuable to poor people since they have less of it.

I generally agree with these statements. I don't think it changes the phenomenon of "found money" for a middle-/ upper middle income bracket person.

[Flubber]

Re: The Government says I'm rich

Originally posted by pchang
The beggar on the street says I'm rich
Kid says I'm rich




Why don't I feel rich.

QFT-- I absolutely do not perceive myself as wealthy or rich either

[Jon Miller]

As someone who makes 20k$ a year and feels well-off, you are rich.

JM

[DanS]

I think it would be better to compare after-tax incomes. The differential may be less than it first appears.

[pchang]

I pay a lot of taxes

I'm pretty sure I will have to pay the Feds over $50,000 this year.