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Economic stimulus package.... $13/week?

Goobieman

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Economic stimulus package on track for final votes

WASHINGTON (AP) - Economic stimulus legislation at the heart of President Barack Obama's recovery plan is on track for final votes in the House and Senate after a dizzying final round of bargaining that yielded agreement on tax cuts and spending totaling $789 billion.
....
The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.

Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.
My Way News - Economic stimulus package on track for final votes

So, for all of you that poo-pooed the $300 stimulus checks from the Bush tax cuts -- what do you think of this?
 

Southern Man

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So the Democrat Congress is giving money directly to Democrat voters. The gal who said that Obama would make her house and car payments was right after all.
 

Kandahar

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So the Democrat Congress is giving money directly to Democrat voters. The gal who said that Obama would make her house and car payments was right after all.

I must've missed the provision in this bill that said registered Republicans were excluded from all benefits. Could you please point me to the proper section of the legislation? :confused:
 

WillRockwell

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I think the idea behind the stimulus package is to create jobs and the need for jobs, not to just hand out money to people.
 

Goobieman

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Uhh I think you need to do your math. This is $676 per year.
Aside form the fact its not MY math...
Read closer. $13/week, after the tax tables are adjusted.
30 weeks of reduction.
 

Goobieman

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I think the idea behind the stimulus package is to create jobs and the need for jobs, not to just hand out money to people.
What part of the package does that?
 

Southern Man

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I must've missed the provision in this bill that said registered Republicans were excluded from all benefits. Could you please point me to the proper section of the legislation? :confused:
More Republicans then Democrats make enough to be past the point where they get money back. This is simple "spread the wealth around" to low wage folks, so the will be beholden to Democrats, thus more likely to vote for them. Its pure populism.
 

Southern Man

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I think the idea behind the stimulus package is to create jobs and the need for jobs, not to just hand out money to people.
If the purpose was to create jobs then taxes would be reduced on high wage earners. The purpose of this bill is quite clear: to buy votes for the next election.
 

Goobieman

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So, for all of you that poo-pooed the $300 stimulus checks from the Bush tax cuts -- what do you think of this?
 

WillRockwell

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If the purpose was to create jobs then taxes would be reduced on high wage earners. The purpose of this bill is quite clear: to buy votes for the next election.

High wage earners don't need stimulus, they are doing well, maybe only less well. And history proves when you give the wealthy more money, most of it does not return to the economy. Just because federal money is being used to stimulate the economy does not mean the wealthy deserve a share of it.
 

Goobieman

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And history proves when you give the wealthy more money, most of it does not return to the economy.
Like in the 60s, 80s and 00s?

Oh... 'give the wealthy mor emoney'. Thats a hoot!
Tax cuts dont -give- money to anyone.
 

Southern Man

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High wage earners don't need stimulus, they are doing well, maybe only less well. And history proves when you give the wealthy more money, most of it does not return to the economy. Just because federal money is being used to stimulate the economy does not mean the wealthy deserve a share of it.
No one is asking to give the wealthy money, just for the government to take less of it away. Whenever that is done they then invest in companies who hire more employees who then pay more taxes. It has worked every time it's tried.

And there is no such thing as "federal money". It is all money confiscated from the people through taxation.
 

RightOfCenter

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So, for all of you that poo-pooed the $300 stimulus checks from the Bush tax cuts -- what do you think of this?

It's as stupid as it was the first time.


For all of you that supported the $300 stimulus checks from Bush, what do you think of this?
 

Goobieman

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It's as stupid as it was the first time.
For all of you that supported the $300 stimulus checks from Bush, what do you think of this?
I'll take every $ I can get, thank you.
I would prefer to have it as a lump sum, however.
 

Kushinator

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The Bush tax rebate was a disaster, mostly due to the fact that during the times of issuance, our marginal propensity to consume domestic goods was quite low. Autonomous consumption reigns supreme in the land of the free, temporary tax rebates do very little to improve long run economic conditions.

People will not be able to pay large debts with $13 per month without saving it, which is a low possibility.
 

Goobieman

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The Bush tax rebate was a disaster, mostly due to the fact that during the times of issuance, our marginal propensity to consume domestic goods was quite low. Autonomous consumption reigns supreme in the land of the free, temporary tax rebates do very little to improve long run economic conditions.
So... the Obama tax rebate will also be a disaster. Right?
 

Kushinator

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So... the Obama tax rebate will also be a disaster. Right?

Its no in a lump sum, therefore it tends to add to the overall volume of autonomous consumption.

It makes no sense to pay off debt (considered savings) by fractioning $13 per month.

Temporary tax cuts are not effective though. Maybe giving it in smaller denominations will reduce the desire to save (pay debt).
 
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