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Final Stimulus Details in the Works

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posted on Feb, 12 2009 @ 09:30 AM
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Final Stimulus Details in the Works


www.cnn.com

Congress is set to send a $789 billion economic stimulus package to President Obama's desk by Monday after lawmakers worked around a disagreement over education funding in the package.

The stimulus deal was struck Wednesday after another furious day of negotiations on Capitol Hill involving House and Senate leaders, Obama administration officials and a trio of moderate Republicans.

The agreement represents a deal that everyone can live with, Democratic leadership sources said.
(visit the link for the full news article)




posted on Feb, 12 2009 @ 09:30 AM
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Well, this isn't surprising. According to the article, here is how the bill will affect individuals:

• Most individuals will get a $400 tax credit, and most couples will get an $800 credit. That amounts to an extra $13 a week in a person's paycheck, starting in June.

• Many students will get $2,500 tuition tax credit.

• First-time home buyers may qualify for a tax credit of up to $8,000.

• People who receive Social Security will get a one-time payment of $250.

$13 bucks a week.....now I can buy that new toaster I've always wanted. :shk:

www.cnn.com
(visit the link for the full news article)



posted on Feb, 12 2009 @ 09:34 AM
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reply to post by skeptic1
 


I know!

And to think, all this for a measly 1 trillion or so (after interest)!


Hey, but at least we can create more useless, unnecessary government jobs, increase welfare, and pour tons of money into failing schools that will continue to fail (with bigger budgets though).

What a deal!!!




posted on Feb, 12 2009 @ 09:46 AM
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reply to post by nyk537
 


This isn't going to do a whole lot of anything for anyone. They had the chance to create and pass a real stimulus package, but instead decided to pass a spending bill full of pet projects.



posted on Feb, 12 2009 @ 09:48 AM
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Originally posted by skeptic1
• Most individuals will get a $400 tax credit, and most couples will get an $800 credit. That amounts to an extra $13 a week in a person's paycheck, starting in June.


pointless. this will give people back a bit more money in 2009. we need it now.


Originally posted by skeptic1
• Many students will get $2,500 tuition tax credit.

nice but will the parents of the students get to take the credit or is it reserved only for those students who file and pay taxes? Many of my clients have kids in college by they are still dependents and, therefore, they don't file their own tax return.

I need to see if this is passing thru to the parents and how it will impact the tuition deduction and credits already in place. Odds are it is not on top of those already available.



Originally posted by skeptic1
• First-time home buyers may qualify for a tax credit of up to $8,000.

awesome. now, how do you get the banks to lend so people can actually get mortgages so they can buy these homes? Wait, another problem. Who the hell is buying right now? Job security is horrific, the future is bleak. Sellers are sticking with their asking prices and nobody seems to be buying. This might work in a year or two, when the real estate market has not only bottomed out but the sellers accept the fact that they need to lower their expectations.



Originally posted by skeptic1
• People who receive Social Security will get a one-time payment of $250.

Because the social security system is flush with extra cash. Let's give seniors the extra dough. They will put it back into the system by spending it on.....what? The second worst group to give straight cash to is this group. Many of them remember being kids, hearing stories of the depression (or they lived thru it). They'll sock this money away.
In case you ask, the worst group is the lowest income threshold - they tend to use the money to pay off credit card interest or, if you go by the last "stimulus" check distribution, the spend it on gambling and porn.


Originally posted by skeptic1
$13 bucks a week.....now I can buy that new toaster I've always wanted.


Now you can get that pack of gum you always dreamed of.


one stick at a time



posted on Feb, 12 2009 @ 09:51 AM
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Originally posted by skeptic1
This isn't going to do a whole lot of anything for anyone.


Except for all those special interest groups who have their hands held out waiting for it.

Apparently spending is the new saving.



posted on Feb, 12 2009 @ 09:56 AM
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reply to post by nyk537
 


Oh, well, of course. I mean, those special interest groups and lobbyists are essential to our economy and our well being.

Oh, wait.....never mind. They are essential to getting the Dems re-elected with all the campaign funds they contribute. :shk:



posted on Feb, 12 2009 @ 10:01 AM
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Originally posted by skeptic1
Oh, wait.....never mind. They are essential to getting the Dems re-elected with all the campaign funds they contribute.


And that's all that really matters isn't it?




posted on Feb, 12 2009 @ 10:02 AM
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reply to post by nyk537
 


To them, yes. It is so obvious it hurts.

I don't understand why some people can't see that and insist on viewing this pork-package as a good thing.



posted on Feb, 12 2009 @ 10:10 AM
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Originally posted by skeptic1
I don't understand why some people can't see that and insist on viewing this pork-package as a good thing.


Because Obama told them he would fix everything, and because they are calling it a "stimulus".

People just don't question it.

The ones who do question it are told that they are standing in the way of progress and change, and that they are being "partisan".

We can't win.



posted on Feb, 12 2009 @ 10:16 AM
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Originally posted by Crakeur


$13 bucks a week.....now I can buy that new toaster I've always wanted.


Now you can get that pack of gum you always dreamed of.


one stick at a time


... Shouldn't laugh but that was funny!

Seriously, with possible hyperinflation resulting from this plan, $13 may not even buy you a stick of that gum. The whole $250 if you are lucky could purchase a loaf of bread and some lunch meat.

Got a bad feeling about all of this?

You should.

If Washington was truly interested in stimulating this economy before a complete collapse they would have taken both the bail outs and the stimulus monies and divided that up amongst all tax paying Americans, with a deadline to spend it or lose it. That would have spurred economic GROWTH and halted the fall of the markets. It would have been the push needed to get everything moving again.

Good luck everyone!

Buy gold, prepare for the worst... Don't underestimate how bad things can get and end up trapped in the chaos of urban madness.

There is always 'hope' and prayer!



posted on Feb, 12 2009 @ 10:41 AM
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$13/week eh?

-or- they could give everyone $5000.00 and if they had debt force them to use it pay it off.

But wait, they'd rather give it directly to the company to buy more luxury jets.



posted on Feb, 12 2009 @ 10:45 AM
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reply to post by n1zzzn
 


Give the money to the people in the form of a pre-paid Visa / Master Card.

$1000 per person would be nice. eh ?

They're forced to spend the money and not pay bills, thus putting the money back into the economy, which is what we're supposed to be doing, right?



posted on Feb, 12 2009 @ 10:57 AM
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reply to post by elevatedone
 



That makes sense and would probably help out a helluva lot more than this package.

But, the whole problem is that it DOES make sense. Logic and common sense have disappeared in DC.



posted on Feb, 12 2009 @ 12:40 PM
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Originally posted by elevatedone
reply to post by n1zzzn
 


Give the money to the people in the form of a pre-paid Visa / Master Card.

$1000 per person would be nice. eh ?

They're forced to spend the money and not pay bills, thus putting the money back into the economy, which is what we're supposed to be doing, right?



Exactly what I've been saying on these bailouts all along. If the people got money they were forced to spend it's a plus-plus. They get something and so do the companies in financial issues.

However it IS possible this could result in hyper inflation thinking in retrospect.



posted on Feb, 12 2009 @ 01:00 PM
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But that would ruin the PLAN!!!!....


Too easy a solution....besides the line "Let them eat cake" has already been used....they should remember what happend to the person that said that...

~Holly



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