How to use your stimulus check to stimulate the US economy

[GelStra]

How to use Your IRS Rebate check... As you may have heard, each of us (may be) will be getting a tax rebate check to stimulate the economy.

 

If we spend that money at Wal-Mart, all the money will go to China . If we spend it on gasoline it will go to the Arabs. If we purchase a computer it will go to India . If we purchase fruits and vegetables it will go to Mexico , Honduras , and Guatemala . If we purchase a good car it will go to Japan . Why help Germany by buying a good bike?If we purchase useless stuff it will go to Taiwan and none of it will help the American economy.

 

We need to keep that money here in America . The only way to keep that money here at home is to spend it at yard sales, since those are the only businesses still in the United States

[David]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

[GelStra]

Bleah....something just tasted VERY bitter!

 

Sorry. Guess you agree with my sig line. THOUGHT I was trying to inject a little humor here. Sorry. Back to the stone cold seriousness. Dino or synthetic?

[Dave McReynolds]

We need to keep that money here in America .

 

Why not follow Eliot Spitzer's example, and spend it on good 'ol US services?

[David]

Oh, I thought it was funny--it just reminded me about how pissed off I can be about taxation schemes.

[Marty Hill]

Lighten up, I can use the money for a down payment on a second home.

[David]

Lighten up, I can use the money for a down payment on a second home.

 

You've got "second homes" all over the country on the Sponge Route.

[Paul Mihalka]

Mine is already tied down for a set of Wilbers shocks for the GS. So Ted Porter gets a piece of it, I think they are made in Holland so the Dutch get some of it, but most important, I get the Wilbers!

[smiller]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

Yes, apparently people with higher incomes do not stimulate the economy.

[velomoto]

If we spend that money at Wal-Mart, all the money will go to China . If we spend it on gasoline it will go to the Arabs. If we purchase a computer it will go to India . If we purchase fruits and vegetables it will go to Mexico , Honduras , and Guatemala . If we purchase a good car it will go to Japan . Why help Germany by buying a good bike?If we purchase useless stuff it will go to Taiwan and none of it will help the American economy.

 

We need to keep that money here in America . The only way to keep that money here at home is to spend it at yard sales, since those are the only businesses still in the United States

If you spend it at yard sales you'll probably just be buying all the used stuff which came from all those countries you listed and enable the person(s) operating the yard sale to buy more stuff from those places.

 

FWIW - a recent breakdown of the iPhone showed how global the economy has become with parts or IP (software, engineering, etc.) coming from nearly every major country.

 

If you truly want to buy something "Made in America", then go visit your local farmer's market.

[GelStra]

Lighten up, I can use the money for a down payment on a second home.

 

You've got "second homes" all over the country on the Sponge Route.

 

Now THAT is funny!!

[velomoto]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

... or one could take a more positive view and being thankful they have so much and can afford to do so much more than those with less. I suppose it's a different philosophy.

 

Besides, I don't subscribe to the belief that dropping personal tax rates for the wealthy somehow creates jobs. If the government wants to create jobs then they need to invest in America - as opposed to giving out $$$ based on who whines the loudest.

[David]

... or one could take a more positive view and being thankful they have so much and can afford to do so much more than those with less. I suppose it's a different philosophy.

 

Yes, you have definitely highlighted a difference in philosophy, but it's not the one you think you highlighted.

[Joe Frickin' Friday]

Lighten up, I can use the money for a down payment on a second home.

 

You've got "second homes" all over the country on the Sponge Route.

 

Does that mean those folks will start receiving checks from Marty?

[Aluminum_Butt]

If the government wants to create jobs

 

[Pilgrim]

Besides, I don't subscribe to the belief that dropping personal tax rates for the wealthy somehow creates jobs. If the government wants to create jobs then they need to invest in America - as opposed to giving out $$$ based on who whines the loudest.

 

Disfortunately, the only jobs the government creates are paid for by the taxpayer. I know - I used to have one.

 

All other jobs are created by people who have enough money to invest in doing something beyond dripping their own sweat - although that usually plays a large part in addition to risking their own money.

 

Pilgrim

[rogera]

Hopefully mine will come before May 9 so I don’t have

to campout all the way to Torrey, I can stay in a few of them fancy motor lodges.

[Rider1200RT]

Besides, I don't subscribe to the belief that dropping personal tax rates for the wealthy somehow creates jobs. If the government wants to create jobs then they need to invest in America - as opposed to giving out $$$ based on who whines the loudest.

 

The wealthy do create jobs, welfare recipients don't. I.E ,the purchase of a private yacht, plane etc puts people to work building and maintaining these things....

 

It is not up to the government to create jobs. It is up to individuals to do so. Being taxed into the stone age stifles new business development and entrepreneurship. If there are only welfare recipients and government employees, where do the taxes come from to pay their "entitlements" ooops, salaries.

[Joe Frickin' Friday]

The wealthy do create jobs, welfare recipients don't. I.E ,the purchase of a private yacht, plane etc puts people to work building and maintaining these things....

 

Um, I don't think that's the model of job creation that people are talking about. If it was just a matter of spending money on goods and services, then a million dollars in the hands of one wealthy person would have the same economic impact as a thousand poor folks with a thousand dollars each.

 

The difference is that a rich guy sitting on a million dollars is probably not going to run out and blow it on a big ol' yacht, but instead invest it in starting or growing a business, either as an entrepreneur or a venture capitalist; he creates jobs, not by creating demand for products and services, but by supplying products and services.

[motoguy128]

Personally, we're basically refilling our savings account that was plundered 2 weeks ago to pay what I owed in taxes. I just go married last year and got the withholding wrong for our combined AGI.

 

until banks start lending to small and medium businesses again... the economy is screwed. A little extra cash won't make much of a difference. The cost of gas and food will start having weighing down on most middle income families who simply wont be able to travel as much this summer. I suspect very hard times at most tourist destinations.

[azkaisr]

You know, the bottom line is that people getting this refund (I am not one of them)can do whatever they want with the money and I think that is cool. Not that I agree fully with why they get it, but good for them if they want to buy anything anywhere. Oh and get used to the world being flat people. It won't change anytime soon. At the end of the day this won't bankrupt the country any more then it will lead to any sort of sane policy regarding taxes, oil, commerce or even the price of monkeys.

 

So go buy your shocks Paul and enjoy the ride!

 

Kaisr

[Harry_Wilshusen]

I will use the VOTER Stimulus Check to help pay 2nd Quarter Estimated Tax payment.

 

They are just picking my pocket to pay me.

 

Harry

[UberXY]

I'm not getting a rebate, but maybe it would be a good idea to endorse the checks and mail them back to Beijing to help pay down the debt that is financing the rebate, among other things.

 

 

[DiggerJim]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

I've the other view - I'm not being punished for being successful, others are being rewarded for not.

 

I agree with Samuelson who once said the problem with taxes in this country is that the poor don't pay any. If they did, they'd be a lot less likely to vote for every pandering politico who promises them a free lunch. If you don't pay taxes, no tax rate is too high.

 

BTW, anyone hearing any complaints from the government about the windfall taxes they're making on gas now? I believe my state makes more than 8 times what the oil companies do on a gallon of gas. However, I did hear one of our good legislative hacks start dusting off the "study whether price gouging is occurring" solution to our financial woes

[Hermes]

.......If we spend it on gasoline it will go to the Arabs

---------------------------------------------------------------------

Not to put too fine a point on it, but your Gasoline and Oil Dollar also supports the White Arabs in Alberta/Canada.

 

I agree with your overall sentiments though, and it is no different in Canada, everything is importet and every value-added process performed out-country.

What little is left, appears to be in the process of leaving. Dell Call Center in Ottawa, for example.

It makes me wonder where our generally well educated young people think they gonna find commensurate employment. We got to start rethinking our single minded push for higher education and re-establish the value of Trades in order to re-take mfg jobs and to make stuff inside of our borders and then, we got to buy the stuff inside of our borders.

 

The price of buying cheap Goods abroad is bankrupting us, in the long run.

 

Jurgen

[subvet]

We need to keep that money here in America . The only way to keep that money here at home is to spend it at yard sales, since those are the only businesses still in the United States

 

I'm putting recessed lights in the kitchen. I'll hire a local electrician to do the wiring.

The fixtures are made in the USA but I'll probably use Dutch lightbulbs (or "lamps" for you purists)

[velomoto]

BTW, anyone hearing any complaints from the government about the windfall taxes they're making on gas now? I believe my state makes more than 8 times what the oil companies do on a gallon of gas.

Check your sources... state gas taxes are per gallon "fixed" so if gas consumption drops due to higher prices (which it will at some point) then states will be making LESS money. Your source probably (incorrectly) assumed gas taxes were a percentage of sale price like "sales tax". linky

[rob1100r]

QUOTE:

If we spend it on gasoline it will go to the Arabs...

 

Buy Lukoil gasoline! Then the money can go to the Russians, because that would be better.....

[Stir]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

 

AMEN to that. And I even promised to spend it and not save it.

[hANNAbONE]

i'M a tAKIN' some of my friends to WrestleMania...$1200.00 should cover it...

[Les is more]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

I've the other view - I'm not being punished for being successful, others are being rewarded for not.

 

I agree with Samuelson who once said the problem with taxes in this country is that the poor don't pay any. If they did, they'd be a lot less likely to vote for every pandering politico who promises them a free lunch. If you don't pay taxes, no tax rate is too high.

 

Interesting. You seem to be lumping a pretty wide range of incomes and tax liability together. I'd also be interested to know your measure of success--only those individuals who earn more than $75,000.00 per year?

 

 

[tallman]

If 1,000 of us put $1,200 together, we could buy a BMW franchise.

All 1,000, selected by lottery, would receive a $1,200 discount off the purchase of their new bike, the 600 mile, and first regular service for free.

Original owners would get a 15% discount, on parts for that bike, as long as they owned the bike.

The 1,000 bikes would be redeemed as they were made available by BMW.

Your discount would be transferable. But, only the 600 mile service would be included.

At the end of the 1,000 bike redemption, ownership of the dealership would revert to me as a sole proprietor.

IN.

Anyone else?

[steveknapp]

Well, I'm not sure how it works honestly...

 

http://www.irs.gov/newsroom/article/0,,id=179164,00.html

 

 

But if I get one, I'm buying a gun. *ducks*

[ghaverkamp]

Well, I'm not sure how it works honestly...

 

http://www.irs.gov/newsroom/article/0,,id=179164,00.html

 

TuboTax was kind enough to inform me that it is not my place to stimulate the economy.

[RichEdwards]

Zumo 550. It's made in the U.S. ...and didn't the govt. make the stimuulus payment $600 because that's just about what this GPS costs?

p.s. I'm happy to stimulate the economy. And I keep lots of people working, especially the illegal aliens who do the golf course maintenance here in Florida.

[Marty Hill]

Rich,

Hate to burst your bubble but everything Garmin sells is made in Taiwan.

[BMWRich58]

Zumo 550. It's made in the U.S. ...and didn't the govt. make the stimuulus payment $600 because that's just about what this GPS costs?

p.s. I'm happy to stimulate the economy. And I keep lots of people working, especially the illegal aliens who do the golf course maintenance here in Florida.

 

Yea...I wanna Zumo too! an Feck golf.... everytime I see a golf course I wanna tear it up with a dirtbike...

[steveknapp]

Well, I'm not sure how it works honestly...

 

http://www.irs.gov/newsroom/article/0,,id=179164,00.html

 

TuboTax was kind enough to inform me that it is not my place to stimulate the economy.

 

Did you try the online calc? I didn't think I'd get anything but their calc said I do. Go figure.

[ghaverkamp]

Did you try the online calc? I didn't think I'd get anything but their calc said I do. Go figure.

 

I hadn't, but I just did.

 

You do not qualify for an economic stimulus payment

 

The "good news" is that if I take (as is possible) a sizable financial hit this year, I may see something from it next year: However, if your situation changes during 2008, you may be able to claim an economic stimulus credit on your Tax Year 2008 return.

[DiggerJim]

Check your sources... state gas taxes are per gallon "fixed" so if gas consumption drops due to higher prices (which it will at some point) then states will be making LESS money. Your source probably (incorrectly) assumed gas taxes were a percentage of sale price like "sales tax". linky

Sorry camper - in CT we have a "gross receipts" tax on top of the fixed gas excise tax (25 cents) there's a 7% surcharge to "teach them profiteers a lesson". It was imposed during one of the price run-ups of yore and never seemed to go away. I believe California has a similar one (although theirs is a bit more IIRC...in fact NY/ME/RI/MA/VT/NH/NJ all have some add-on tax to the base excise tax...looks like an east coast thing except for CA of course). So, price goes up, taxes go up. Consumption has to go down way more than 1% for the state to start suffering...in the meantime they're still sucking it in.

 

It's far easier for politicians to blame the big oil companies for the problem than to admit that they're responsible for the 2nd highest cost item (the highest being the crude oil) to the cost to the end consumer.

 

Of course the taxes go to the roads right? Well, some do...but nearly half goes to "unrelated purposes".

 

I don't begrudge Exxon a penny of the profits they make on getting that stuff pumped out of the ground half a world away, shipped all the way across the world in very large very expensive ships, processed into 35 different regional mixes and then trucked to my local station where Tim makes less than a nickel a gallon, is still paying for the EPA tanks & pumps he had to upgrade and does it only for the traffic it drives to his garage bays. Although it is getting almost as expensive as my Dasani bottled water

[Bud]

I putting mine (and Nurse Nancy's) in savings.

 

Side note. In 1974 my farmer neighbor came to me and complained that he paid $15,000 in Federal income tax for 73. A farmer, no less. The guys who charge off living expenses like we never could and he still had to pay.

 

My response: "Kenny, I didn't even make $15,000 last year. Quit your bitching."

 

It all depends on if your ox is getting gored or if it is someone else's ox.

[MAT2CHI]

I'm taking the family to Disneyland............

[Shaman97]

I'm getting four seats for one game at Yankee Stadium. That, four hot dogs and four drinks. That ought to have it all spent.

[Firefight911]

I'm getting four seats for one game at Fenway Park. That, four hot dogs and four drinks. That ought to have it all spent.

 

Fixed it for ya!

[motoguy128]

Each of us will NOT be getting a check. Those left out are the ones enabling most of the jobs, for which they are being punished.

I've the other view - I'm not being punished for being successful, others are being rewarded for not.

 

I agree with Samuelson who once said the problem with taxes in this country is that the poor don't pay any. If they did, they'd be a lot less likely to vote for every pandering politico who promises them a free lunch. If you don't pay taxes, no tax rate is too high.

 

Interesting. You seem to be lumping a pretty wide range of incomes and tax liability together. I'd also be interested to know your measure of success--only those individuals who earn more than $75,000.00 per year?

 

 

I tend to agree... with what you're implying. So because I don't make excess amounts of moeny, I'm somehow less sucessful. That's a very arrogant viewpoint. Don't get me wrong, I like capitalism, but any salarie over about 200k is a little excessive... especially when you consider that every dollar earned is in a sense taken from someone who works just a hard for a living, but is getting by on <30k/year.

 

Even with a combined AGI of over 100k, my wife and I sometimes feel a little guily living in excess.... as I type on my laptop while watching Medium on a 47" flatscreen... while someone less than 1/2 mile from me can barely afford their $300/month mortgage payment

[ghaverkamp]

Even with a combined AGI of over 100k, my wife and I sometimes feel a little guily living in excess.... as I type on my laptop while watching Medium on a 47" flatscreen... while someone less than 1/2 mile from me can barely afford their $300/month mortgage payment

 

I don't know that there's much keeping you from assuaging your guilt by paying that person's mortgage yourself.

[Shaman97]

Fixed it for ya!

 

Oooohh.

 

You'll pay for that!! I know your route to work

[steveknapp]

ny salarie over about 200k is a little excessive... especially when you consider that every dollar earned is in a sense taken from someone who works just a hard for a living, but is getting by on <30k/year.

 

I don't understand how a person who makes over 200k a year is taking that from people making <30k a year?

[David]

He doesn't understand it, either. It's just an ideology that works for him.

[NoHeat]

If we spend that money at Wal-Mart, all the money will go to China . If we spend it on gasoline it will go to the Arabs. If we purchase a computer it will go to India.... If we purchase a good car it will go to Japan .

 

Well, it was their money after all. The government had to borrow their money (by selling them bonds) to write those stimulus checks.

 

Which is a dumb idea IMHO. Living high now, and sticking the grandkids with the bill