IRS Stimulus Payment

[rgraham666]

And since most of that money spent is going to be spent on stuff made outside the U.S. buying stuff isn't going to help a lot either.

 

[cloudy]

Interestingly enough... these rebate checks have been a hot topic of discussion at work. (As it has been nationwide I'm sure) And the vast majority of the folks I have talked to are planning to plunk it down on some sort of debt that they owe. Only a handful of people are actually planning on going out a buying stuff with the money.

And I heard on news radio here that a recent poll of around 150,000 americans shows that only something like 18-25% are actually planning on spending the money on stuff. The vast majority are socking it away in savings or plunking it down on debt... which by the way... does very, very little (if anything) for the economy.

I have about $200 of mine earmarked for a new flatscreen monitor. My 19" crt was a hand-me-down from my stepfather after my old flatscreen died. The crt will go to a friend who has a computer, but no monitor.

The rest will go to pay bills, or socked away in my savings account, for sure.

 

[jomar]

I'm going to fill up my car with premium gas.

 

[_Lynn_]

I'm trying to ignore it all.
I was officially married at the end of 2007 and it was to our benefit to file jointly.
The check will go into his checking account to which I have no access.
Because he is now an ass I am fucked.
I hope you all enjoy your checks whenever you get them.
At least you're getting one.

 

[shereads]

I so plan to stimulate our economy with my check.

That, or pay some bills.

 

[TxRad]

I have a few ideas on stimulating the IRS but that's a whole other thread.

 

[SlickTony]

I saw all the stuff on the news about the payments coming out and I thought, saved! Then I actually went on the IRS web site and found out it won't be coming until July. Thunk. I'm sure it will still be useful when it gets here but the meantime is the problem.

We're going to spend part of it on a dive trip--hey, at least by then the water will be warm.

 

[Zeb_Carter]

Got mine already......using it to pay some bills.

 

[Gizzmotick]

The rest will go to pay bills, or socked away in my savings account, for sure.

I think it's a good idea to have it planned out for what you're going to do with it.... although I am plainly envious of those in a situation where it doesn't really matter to them.

As for ours... looks like the debate has been settled. The combination of our stimulus checks... and tax refund will nicely take care of one of our credit cards.

 

[Trinique_Fire]

I personally doubt the morality of squandering $1,000,000,000 per year for five years while the economy spirals into the abyss the borrowing a few more hundred millions to schmooz the public into thinking you actually give a rat's ass about the citizens of the United States.

Can you say, "Too little, too late?"

Yeah, but at least it'll save me from being broke for a little while.

 

[Weird Harold]

Yeah, but at least it'll save me from being broke for a little while.

As far as my checkbook register is concerned, it will last less than one day -- I'm postponng my credit card payment from my normal first of the month batch bill paying until I confirm the deposit and will mail a double payment that will reduce the balance to around $11 as soon as it's confirmed.

 

[Trinique_Fire]

As far as my checkbook register is concerned, it will last less than one day -- I'm postponng my credit card payment from my normal first of the month batch bill paying until I confirm the deposit and will mail a double payment that will reduce the balance to around $11 as soon as it's confirmed.

Basically. But maybe...with a little luck it will help, even if just for a moment.

 

[gauchecritic]

I'm not sure I understand this. I was listening to Ksomething or other last week (to laugh at moyshe) and about every other two minutes the commercials had 'feed the pig' 'information'. which basically said "stop spending and start saving".

What's going on?

 

[jomar]

I'm not sure I understand this. I was listening to Ksomething or other last week (to laugh at moyshe) and about every other two minutes the commercials had 'feed the pig' 'information'. which basically said "stop spending and start saving".

What's going on?

It's bullshit politics season in the USA.

 

[Carnevil9]

Personally, I think "Stimulus Package" would be a great name for a Lit story.

 

[Weird Harold]

It's bullshit politics season in the USA.

AICPA's Feed The Pig campaign isn't "politics" it's a Non-government Organization trying to educate people about real economics.

 

[trysail]

I have a simple rule about spending money:
Don't.

There are, of course, only two things you can do with money.
You can:
(1) save it or
(2) spend it.
If you spend it, you may never see it again.

Whenever I look at "things" (i.e., automobiles, houses, refrigerators, etc.) I automatically think what income could be derived from investing that capital in income-producing assets. $400,000 might buy you a nice house (along with the perpetual obligation to pay real estate taxes, maintenance, insurance). Alternatively, you can receive income of at least $12,000 (with the reasonable possibility of an annual total return [i.e., income plus capital appreciation] in perpetuity of ~$20-32,000.

The same arithmetic applies to automobiles. What is the point of spending $20-30,000 on a new car when its value drops at least 20% the minute you drive it off the dealer's lot? Why not invest that money and receive income? Anybody who buys a new car is insane. I've only bought one in my entire life (back when I was young and stupid, I bought a new Volkswagen Beetle for $2,734— I drove it for sixteen years; I'd likely still be driving it if the "bad guys" in Philadelphia hadn't swiped it).