Economic Stimulus Rebate, Good or bad?
By taface412
@taface412 (3175)
United States
May 2, 2008 4:53pm CST
So everyone who filed a US income tax return is getting one. Even Seniors were encouraged to file their social security earnings in order to receive one. So is this good or bad?
I guess it depends on how you look at it. Most people are excited about this "gimme" check (as I have been calling it). But does everyone not realize that we have a huge deficit. And does it not see ridiculous that the government is giving us money when they do not have enough to pay their own bills? I wonder if we are going to feel the true effects of this rebate in years to come. But when I ask most people they just say "who cares, it's money and I will spend it."
And then has anyone else noticed that over the last few months EVERYTHING (gas, groceries, etc.) has crept up slightly to the highest amounts ever? Also, I heard that over the Memorial Day weekend that gas prices are going to be lowered. To what? What we were paying two-three weeks ago. We still have a few more weeks until Memorial Day weekend and I am sure the gas prices will go higher and then they will lower it to what we are paying today. Pay attention to today's price and the ones on Memorial Day.
Maybe it's the cynic in me, but I am beginning to see what people mean about our actions today affecting our future. And I wonder are we really that selfish and materialistic to think about this monopoly money inflated our economy?
1 person likes this
5 responses
@coffeebreak (17797)
• United States
4 May 08
Gov is not giving you anything. What you get in this "gimme check" is only an "advance" on any refund you get next year. It is your money and they are just giving it to you early. Don't think the Gov would give you anything for nothing! And yeah, so what? $600 isn't going to do much. I happened to be channel surfing the other day and saw some hosts talking about it and they did the math and averaged it out to be about 10 tanks of gas for the average person....and that helps the economy how?
$600 isn't going to help much of anything. half a month's rent. some extra groceries, come current on a few bills.... not enough to do much of anything. ANd if you are one that "counts" our your tax refund for a certain reason...make sure you count on less next year....
@coffeebreak (17797)
• United States
4 May 08
I know what you are saying. Doesn't make much sense. I have no problem with the child tax credit...it does cost to raise a child and since the child does nothing to increase th e income, the deduction is to me, good. But what is really bad... when I was doing property management and we had a program with the county for low income people. They had to turn in paper work to qualify income wise. Most were on welfare. THing was, for every kid you had under 18 you got and additional $75 a month (This was back in the early 90's) The first one was like $200 and then $75 a month for additional kids. So the women just stayed at home, on welfare and food stamps and public aid/assistance and had children and got a "raise" every year. That is so wrong it was disgusting. Then throw on top of htat the child income credit and we pay them to have children! Talk about bad!
@taface412 (3175)
• United States
4 May 08
no kidding, you would not believe the stories i hear at work. I mean I work with a lot of single parents and i agree the tax credit is good for a single parent, but i know a girl who purposely watches what she earns in order to receive housing assistance and the medical card for her child. I mean all the government is doing is teaching people to abuse the system when there are people out there who really need it. Meanwhile I with no kids and others like me, pay for this assistance while I have to bum rides to work and other places cause I cannot afford a car when they drive in style (I see this everyday and it makes me sick.)
Gas here was as of yesterday (KY) 3.52/gallon. crazy isn't it. I am sure we'll be breaking the four dollar mark soon.
1 person likes this
@taface412 (3175)
• United States
4 May 08
That's what I was thinking, b/c like you said the gov't isn't going to just say here take this freebie for nothing. Hell, they already over tax hard working people and totally screwed up our future with the SS system where we have to take our money today and place it away hoping that 401ks won't crash and we will be left with nothing in the future.
I think a lot of people are only looking at the here and now concerning this refund and like you said we will feel it in the future...and I personally never felt it was right for all these tax breaks in the first place. Like the earned income credit...it's good in theory but in a way I think it encourages a lot of people who get pregnant just b/c, but that is a whole different topic. I know there are a lot of hardworking people out there who do not have kids who are single (I being one of them) who does not get much of a tax break....but if I had a child...things would be sooo different. LOL
1 person likes this
@sisterjinx (1135)
• United States
2 May 08
As for us. Considering how this last year and a half has treated us financially, this is a good thing for us personally. However, I can completely see what you are saying with this. I had not thought of it this way. I have never been one to sing the praises of those in charge of running our government though or their intelligence.
But many of us are struggling. We have gone from middle class to extremely lower class and these checks are not going to fix everything but they are certainly going to help. Personally we are going to pay off some bills with it that we have not been able to pay off previously.
@taface412 (3175)
• United States
3 May 08
Oh, don't get me wrong I will be using it to pay off some debts too. It's just I noticed these things and thought I hand out some food for thought.
And I am quite sure that this is Bush's way of going out of the office in style after all he did like to spend money he does not have.
@coffeebreak (17797)
• United States
4 May 08
Thing is...it isn't going to help the economy. To help the economy you have to make purchases. I'd be willing to bet the majority of people will use this to pay debts they already have not buy new things. Come current on current debts. Save it for later. And $600 - what's it going to buy anyway? Okay a few electronic thing-a-ma-jigs, a couple tanks of gas to get to work but it isn't enough to do much good. And since it is only a "loan" on your refund you get NEXT year, you are just borrowing from yourself so where's the positive side of this stimulus? It gives the American people something else to think about instead of the approved plan to send $72 billion dollars to other countries for food aid and high gas prices for no apparent reason and things like that. It won't help the economy.
@taface412 (3175)
• United States
4 May 08
I think I even heard someone saying that people receiving this rebate (and I thinkthe statement was made by the President) should not spend it on their bills....which is what most people are going to do. So I think you are right this is definitely not going to help our economy and we will pay for this in the future, but most people don't want to plan that far ahead...
@carolscash (9491)
• United States
3 May 08
It is something to think about but we deserve a break! It seems to me that if the United states govenrment would quit handing out money to all these other countries that it would be a good start to cutting our deficit.
I personally feel that they should give us two or three stimulus packages if that is what it will take to help out the average working family and boost the economy.
I don't understand why it is so hard to realize that if they would do something about lowering the gas prices, the economy would improve as people could afford to do somthing and spend some money.
Lowering gas prices needs to go beyond stopping the gas tax. We need a real solution to the problem. Spend some money to build refineries. The oil companies aren't doing that so that they can charge us these outrageous prices and can control the supply.
@coffeebreak (17797)
• United States
4 May 08
Gas is the back bone of this country. Take away gas and we go bust. Everything is trucked/railed over this country - if the gas is to high, the truckers can't deliver...and the recesssion/depression begins! Thing is, Gov't understand that. They just don't want us to understand that. Lower gas prices and watch this country spring back into good shape! If you have to spend all your money on gas... that means you aren't spending it on the economy and the economy drops....
@taface412 (3175)
• United States
3 May 08
And that is what it is about, control. And the sad thing is even if we were to try and boycott our lives still continue and we stil have to work. So they still have the control. But I agree about the aid to other countries. Who can you take care of when you cannot take care of yourself?
@sirnose (2436)
• United States
3 May 08
I consider it a wash its neither good nor bad,I don't think this so call stimulus package will do anything.A real stimulus package would of at least contain a rollback and a freeze on prices so people could spend the money on what their needs were,but with this joke of a economic stimulus package all you can do with it is pay on the debt that you already have.
@taface412 (3175)
• United States
3 May 08
That is how I feel about this stimulus check. And it is no wonder we all have debt. But hey, they say the gas will go down by the holiday weekend....maybe we'll pay as much as we are today....so much for a holiday.
@coffeebreak (17797)
• United States
4 May 08
Gas is $3.79 (regular, diesel is $4.45!) here in SO. CA. So what does it go down to? $3.59? ANd we'll all think "oh thank goodness it went down". Why doesn't it go down to what it was before the increases - to like $3.11? They never tell us that. They throw us a few dimes and we are all so over whelmed that we are so thankful for the pitance we take it gladly. And they get their way and life goes on until who ever it is wants more money...then up they go again.
@Gargoyle0134 (1257)
• United States
6 May 08
It's great to help my family pay down our debt! But if they think a single store is going to get a piece of ours..not going to happen!
It will not stimulate the economy..but with gas prices and food prices rising so quicky..it will help families that use it wisely. (To pay extra on the principle payments of their homes/cars or to pay down credit card debt!)
