Is the government going to hand out 600-1200 dollars again? 
What did you guys do with your tax rebate money last year? I went on a vacation to Costa Rica.
Brazil
PS3
jmh530 Wrote: ------------------------------------------------------- > PS3 Haha!
Nike Wrote: ------------------------------------------------------- > Is the government going to hand out 600-1200 > dollars again? What did you guys do with your > tax rebate money last year? I went on a vacation > to Costa Rica. You mean $600 welfare check… Tax Rebate would imply all tax payers get it. They excluded the top 10% or so of tax payer, who pay the most taxes.
Level II
isnt that 600 ones??? hmmm what could i do with 600 ones? Daj? something about rain?
Florida_Gator Wrote: ------------------------------------------------------- > Level II Same, but level 1.
This thing has been going around on the internet since the first stimulus package: “The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I’ve been doing my part”
Spending it on whores? Is that American? I’ll go to Nevada and gamble it away
PtrainerNY, are you serious man? $600 isn’t even worth the trip to the bank for the top 10% of filers. It was mean as a stimulus and I doubt the 600 bucks would have stimulated spending for the top 10% hence the govt decided those checks were better off kept.
true, you can buy a lot of cherry cokes and cheetos with $600
I thought the excluded everyone who made over 85k – is >85k top ten percent?
Florida_Gator Wrote: ------------------------------------------------------- > Level II Same
I didn’t know the details, I was going off of PTrainerNY’s top 10% statement. Even above 85k I don’t think the stimulus package would have had the marginal benefit to circulation that it does below 85.
On a side note, I feel super lame for not spending it on a trip to another country, so I’m hoping for another check to try to get a second chance to do something cool. Of course, I believe us taking that money to another country to spend probably defeats the purpose.
I saved it to pay taxes for next year. Or the following year. Or whenever we have to pay it back.
^ excellent Ricardian equivalence demo!
Nike Wrote: ------------------------------------------------------- >What did you guys do with your > tax rebate money last year? Funded the rest of your rebate checks.
Here’s a little experiment for you: 1. pull “chained dollar” historical GDP figures from http://www.bea.gov/national/xls/gdplev.xls 2. Plot ln(GDP) vs Year. (I cut it off before 1950 – hope that’s not cheating) 3. Fit a line: ln(GDP) = .032(year) - 55.96, r^2=.995 To my eyes that’s the closest fit to natural data I’ve ever seen. Conclusion: GDP grows at 3.25% (real) and there’s nothing we (including fed govt actions) can do to accelerate or decelerate this trend. So what am I to make of stimulus claims like: “If we cut taxes, we’ll _grow_ ourselves out of this deficit/recession/mess”?