Federal Tax Rebate

[national425ex]

Anyone else just see the presidents speach? Single tax payers will receive $800 and couples $1600. This is awesome, He said they are hoping to get teh checks mailed out as soon as possible!

[79400ex]

This will be a joke. It will only help in the short run. Our ecomic has a lot more problems than comuser spending.
1. The federal debt
2. Bad money policies.
3. Cost of gas
4. Cost of food
5. Cost of housing
6. And the big one is that we make nothing here more. We import to much.
7. The cost to run this countrys put on to much on the middle class of country .

Our ecomic can't surive just on comsumer we must make something here.

Like been saying to some of friends we are heading to be a third world counrty. However, it will be a well developed third counrty.

this my opion.

[300exOH]

I'll believe it when I see it...the last time they did this I didn't get ****. I highly doubt a few hundred $$ will help the economy much considering it's less than 1% of what people normally spend in a year anyhow.:ermm:

[mx3mom]

I think its to little to late. The economy would get its biggest boost by dropping fuel prices at least by a dollar a gallon. The middle class has carried the burden for so long now that they have finally broken the backs of us blue collar workers.

[MOFO]

The middle/upper class needs to get out of bad debt and quit using their houses as an ATM!

Gas prices are just a drop in the bucket when you look at the root problems...

It would be nice if this rebate could be mandated to be used only to pay off debt. Instead its going to be a kick start for an economy that has a foundation built around debt.

I also hope the damn gov't does not lower the interest rates anymore. Our dollar has suffered enough - suck it up and let the economy make the needed corrections!

[300exOH]

Originally posted by MOFO
The middle/upper class needs to get out of bad debt and quit using their houses as an ATM!

Gas prices are just a drop in the bucket when you look at the root problems...

It would be nice if this rebate could be mandated to be used only to pay off debt. Instead its going to be a kick start for an economy that has a foundation built around debt.

I also hope the damn gov't does not lower the interest rates anymore. Our dollar has suffered enough - suck it up and let the economy make the needed corrections!

I agree...except that I think it's already too late for the economy being built around debt. That has already been an issue for many years IMO. I would be perfectly fine with using the money to pay off debt since that would be my plan anyhow. Luckily I don't owe that much compared to most average middle class folks but it's still more than I care to. Luckily I only owe about 20% of what my house is worth. I plan to be totally debt free within the next 5-6 years max. As it stands right now I could sell both of my quads and a couple other toys and be almost debt free. I think the economy as a whole has been on a downward spiral in the last 10-15 years and it's likely to get worse before it gets better. Personally I'm worried we are headed for another great depression.

[<DRS>GPF]

Originally posted by MOFO
The middle/upper class needs to get out of bad debt and quit using their houses as an ATM!

Gas prices are just a drop in the bucket when you look at the root problems...

It would be nice if this rebate could be mandated to be used only to pay off debt. Instead its going to be a kick start for an economy that has a foundation built around debt.

I also hope the damn gov't does not lower the interest rates anymore. Our dollar has suffered enough - suck it up and let the economy make the needed corrections!

agreed...

additionally, they should stop the tax breaks period..
for businesses, travel, farming, babysitting, anything.
sink or swim big spender..

the problem isnt with those that are paying taxes, its with those that arent..

[TRX450RACER174]

Originally posted by national425ex
Anyone else just see the presidents speach? Single tax payers will receive $800 and couples $1600. This is awesome, He said they are hoping to get teh checks mailed out as soon as possible!

Thats not quite correct this is off of Yahoo news.


Economists said a reasonable range for tax cuts in the new package might be $500 to $1,000. Congressional aides said the White House plan is looking at rebates of up to $800 for individuals and $1,600 for married couples, but Paulson said the administration wants to be "intentionally not specific" in public to avoid poisoning the well with Congress.

Bush first signaled his support for the approach of income tax rebates for people and tax breaks for business investment in a conference call Thursday with bipartisan congressional leaders.

Democratic congressional leaders agree that tax relief should be in the package, but are working on a broader measure. Lawmakers are discussing a $500 rebate for individuals, said aides to lawmakers involved in the talks, with details for couples and people with children still being negotiated. The rebates would likely be limited to individuals with incomes of $85,000 or less and couples with incomes of $110,000 or less, the aides said, speaking on condition of anonymity because no final decisions had been made.

[DEREK_SINE]

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Watch the stock market, gold is a good investment right now. This affects everyone on these forums, this election is huge follow the money and you'll know who is who. There is nothing backing up the currency.

[bwamos]

Originally posted by 79400ex
This will be a joke. It will only help in the short run. Our ecomic has a lot more problems than comuser spending.

FYI: it was stated specifically by him that this is a short term releif to help give a small boost in the short term. It's not a long term fix.

The hard part is getting opposing parties to agree on a long term fix.

If someone's inclined to give me $500 I don't feel the overwhelming desire to ***** about it. I think I'll put a new floor in my garage, instead. ;)

[cbrooks118]

I disagree on Gold being a good investment. Its true since we have begun the war on terrorism the value of gold has increaased dramatically. However, when looking long term, as you should in investments it averages less that 5%. Most reputable mutual funds over the span of 20 years average 12-14%. I would invest in those. Especially the ones that are interested in China becoming industrialized

Gold is more volatile that technology stocks, and that is a risk i am not willing to take.

As for those commercials that tell you that when the economy fails, gold will be the trade, well that is a lie. If the economy fails and we are sent back to the stone age so to speak, history proves that bartering will be the main form of currency....

Just what I know, take it or leave it

[chris46250r]

Originally posted by bwamos
FYI: it was stated specifically by him that this is a short term releif to help give a small boost in the short term. It's not a long term fix.

The hard part is getting opposing parties to agree on a long term fix.

If someone's inclined to give me $500 I don't feel the overwhelming desire to ***** about it. I think I'll put a new floor in my garage, instead. ;)

I agree. I dont care if its $5, send it on, and send it today.

[shadowwalker]

Technically if the economy keeps heading down there will be a lower demand for oil, and gas prices should drop. People are already buying less just due to the time of the year, and oil is used for a ton of things. If there is less demand it will drop. Statistically January and February are slow months, especially for restaurants. People are paying off their bills form the holiday, and what the easiest way to save money? Stop going out. And on top of that, with all the smoking bans (which robs the country of more tax money because casinos and bars get taxed higher and people aren't going there as much) anyone who didn't expect this needs to wake the hell up.

So take into account the time of the year and a potential recession (some say we are there already) oil should start dropping.

[MOFO]

Originally posted by cbrooks118
I disagree on Gold being a good investment. Its true since we have begun the war on terrorism the value of gold has increaased dramatically. However, when looking long term, as you should in investments it averages less that 5%. Most reputable mutual funds over the span of 20 years average 12-14%. I would invest in those. Especially the ones that are interested in China becoming industrialized

Gold is more volatile that technology stocks, and that is a risk i am not willing to take.

As for those commercials that tell you that when the economy fails, gold will be the trade, well that is a lie. If the economy fails and we are sent back to the stone age so to speak, history proves that bartering will be the main form of currency....

Just what I know, take it or leave it

:muscle:

If the economy completely fails, you better have GOLD under your bed and not little pieces of paper that say you own gold! Word to the wise - you should also have a pile of lead and gun powder wrapped in brass casing sitting next to it. :o

Also if you were to look at the return on gold over a 20-25 year period, it is NOT a good investment. You know what will be a great investment - there are some nice "regional" banks that have a solid balance sheet, did not get wrapped up in this sub prime mess, but are currently sitting at 2 - 3 year low - watch 'em and buy it up in the very near future. ;)

Has anyone heard of the phrase buy low and sell high? I find it funny that everyone selling out low, then investing in Gold when its at its highest peak for the past 15-20 years. Yea...good move. :rolleyes:

Our economy is not doing well, however you need to understand that it will survive. This has been a ticking time bomb for awhile now that just went off - let the market correct (its been overdue IMO), invest wisely and ride it out!

Oh and those who bought homes that they could not swing, but yet took some creative financing then used their equity as an ATM need to be held accountable. No bail out - they need to learn some basic 101 financing. :mad:

[TRX450RACER174]

Originally posted by MOFO
:muscle:

Oh and those who bought homes that they could not swing, but yet took some creative financing then used their equity as an ATM need to be held accountable. No bail out - they need to learn some basic 101 financing. :mad:

I could not agree with you more on that or on the people that used there equity as a ATM to buy the big trucks and fancy toys trust me i live in Cali and see that shiz every day it will all catch up with them i'm glad i'm not on that list of statistics.

[mx3mom]

I found myself on another type of growing list just this week. Some dirtbag is attempting to steal my identity. Luckily enough, I caught on to it in only two days. Still yet, they managed about $6,000.00 in two days time. They better hope the law finds out who they are instead of me. Guys you better keep a close eye on your financial things, bank accounts, credit card balances and anything else that pertains to your money. I HATE THIEFS

[MOFO]

Originally posted by mx3mom
I found myself on another type of growing list just this week. Some dirtbag is attempting to steal my identity. Luckily enough, I caught on to it in only two days. Still yet, they managed about $6,000.00 in two days time. They better hope the law finds out who they are instead of me. Guys you better keep a close eye on your financial things, bank accounts, credit card balances and anything else that pertains to your money. I HATE THIEFS


Been there, done that. My credit has been locked down for a few years now with the big 3 - no more issues since I've done that. If I need to open a line of credit for anything, I make a phone call first. Then again, I've been a cash only type of guy, so it can remain locked...