I was telling my DH about this post last night because he is very into the political scene right now... the folks that made comments that the money was coming from China, where did you hear that from? I would love to read about that. I just can't even believe our government would do that... makes you think... not that anything surprises me anymore.
opinions on tax rebate
- Thread starter FitNurseRN
- Start date
andtckrtoo
Cathlete
I found this chart when looking for this information. I have always heard that Japan owns the majority of the US debt that is held by other countries.
http://www.optimist123.com/optimist/images/piechartusdebt.gif
(article is from http://www.optimist123.com/optimist/2005/11/pie_chart_of_wh.html and is as of March 2007)
http://www.optimist123.com/optimist/images/piechartusdebt.gif
(article is from http://www.optimist123.com/optimist/2005/11/pie_chart_of_wh.html and is as of March 2007)
I was wondering about the China thing also. Everything seems to be made in China, but aren't a lot of American companies located in China?... like Wal-Mart.....I never knew China was such a booming country. If there is anything to back this up, please post it....I would love to read it. There is a chart ^^^, but I can't read it for some reason, it is all blurry on my screen.
Thanks!
Sara
Thanks!
Sara
SirenSongWoman
Cathlete
>I think that most people are going to pay back debt and not
>go out and buy things. The goal is that people will go out and
>spend the money which I suppose some people might. I know I am
>going to pay bills with it.
I'm with you. I also agree with everyone who believe it to be just a band-aid. We don't need rebate checks. What we NEED is to be able to buy gasoline without being robbed while the oil companies rake in record profits.
>go out and buy things. The goal is that people will go out and
>spend the money which I suppose some people might. I know I am
>going to pay bills with it.
I'm with you. I also agree with everyone who believe it to be just a band-aid. We don't need rebate checks. What we NEED is to be able to buy gasoline without being robbed while the oil companies rake in record profits.
baylian
Cathlete
I had to jump in on this one.
This is not all Bush - the whole gang in DC jumped in on this. And all due to the election. I have issues with money being given to those that don't pay taxes in the first place. Most of those won't be paying on any debt because they don't give a crap in the first place. They will spend it on things they don't need. For what it's worth - I will be spending mine on travel to take care of a sick father (and STS for my sanity to get me thru his illness).
In regards to the housing and lending issue - We live in Michigan that has the worst economy in the nation. My husband is in whole sale lumber sales. With the building crunch my DH has had the worst year ever (he is a corporate accountant and we depend on bonuses to which there have been none). I was in school working toward nursing and had to quit to take on a part time job to help out. Wasn't happy about it but I did what was best for us. We have a house that we pay every month faithfully on. It is the first thing we pay every month. He drives a car from 1998 and we have a small amount to pay on our '03 Trail Blazer that I drive (in Michigan you need at least one four wheel drive in a home). We have one child who is into everything sporting and social.
Now I ask - DO YOU THINK THAT IF MY DH LOST HIS JOB TOMORROW THAT SOMEONE WOULD BE THERE TO BAIL US OUT???? WOULD WE EXPECT THAT?? HANG NO !!!!!!!!!!!! They would foreclose on us in a NY minute. And we jumped thru the hoops, had a sizeable down payment and low interest rate to boot. This whole thing makes me sick. How many more times does government have to bail the idiot pool out! The lenders and the borrowers are to blame. No one is held accountable in this country anymore. Unfortunately we have to pay for some things we would rather not. Someone mentioned the war. I support the war and our president but I do agree with you to a point. I send my child to a parochial school but I have to pay taxes for the public school. I don't like it but I do it. However - this whole houseing issue just borders on the obsurd.
Sorry - I'll get off my soap box now. I wasn't meaning to start a flame war so I hope no one responds in such a manner. I think dialog is needed.
On that note - I wish everyone a great weekend. It will be basketball all weekend for us. The kids grow up fast so I smile with every thing we attend.
This is not all Bush - the whole gang in DC jumped in on this. And all due to the election. I have issues with money being given to those that don't pay taxes in the first place. Most of those won't be paying on any debt because they don't give a crap in the first place. They will spend it on things they don't need. For what it's worth - I will be spending mine on travel to take care of a sick father (and STS for my sanity to get me thru his illness).
In regards to the housing and lending issue - We live in Michigan that has the worst economy in the nation. My husband is in whole sale lumber sales. With the building crunch my DH has had the worst year ever (he is a corporate accountant and we depend on bonuses to which there have been none). I was in school working toward nursing and had to quit to take on a part time job to help out. Wasn't happy about it but I did what was best for us. We have a house that we pay every month faithfully on. It is the first thing we pay every month. He drives a car from 1998 and we have a small amount to pay on our '03 Trail Blazer that I drive (in Michigan you need at least one four wheel drive in a home). We have one child who is into everything sporting and social.
Now I ask - DO YOU THINK THAT IF MY DH LOST HIS JOB TOMORROW THAT SOMEONE WOULD BE THERE TO BAIL US OUT???? WOULD WE EXPECT THAT?? HANG NO !!!!!!!!!!!! They would foreclose on us in a NY minute. And we jumped thru the hoops, had a sizeable down payment and low interest rate to boot. This whole thing makes me sick. How many more times does government have to bail the idiot pool out! The lenders and the borrowers are to blame. No one is held accountable in this country anymore. Unfortunately we have to pay for some things we would rather not. Someone mentioned the war. I support the war and our president but I do agree with you to a point. I send my child to a parochial school but I have to pay taxes for the public school. I don't like it but I do it. However - this whole houseing issue just borders on the obsurd.
Sorry - I'll get off my soap box now. I wasn't meaning to start a flame war so I hope no one responds in such a manner. I think dialog is needed.
On that note - I wish everyone a great weekend. It will be basketball all weekend for us. The kids grow up fast so I smile with every thing we attend.
L Sass
Cathlete
Hey guys -- here is a question for you. This I had not heard of until it was in yesterday's paper. It said this "rebate" is actually a CREDIT toward your 2008 tax refund. So does this mean that whatever refund you may otherwise be entitled to NEXT YEAR will be reduced my the amount you receive this year? What if you get a refund this year and have to pay next year - how would that work? Also, can you not accept the check? I don't mean simply not endorsing and using it - I mean actaully send it back?
Lorrie
www.picturetrail.com/lsass
Lorrie
www.picturetrail.com/lsass
WeatherGirl
Cathlete
You'll get no flames from me. I just had to thank you for the giggle and nod from this line:
"How many more times does government have to bail the idiot pool out!"
So true.
I hope things get better with your DHs job. We also live off my DHs commission/bonuses, and it can get scary. (((HUGS)))
"How many more times does government have to bail the idiot pool out!"
So true.
I hope things get better with your DHs job. We also live off my DHs commission/bonuses, and it can get scary. (((HUGS)))
MSJ
Cathlete
"Hey guys -- here is a question for you. This I had not heard of until it was in yesterday's paper. It said this "rebate" is actually a CREDIT toward your 2008 tax refund. So does this mean that whatever refund you may otherwise be entitled to NEXT YEAR will be reduced my the amount you receive this year? What if you get a refund this year and have to pay next year - how would that work? Also, can you not accept the check? I don't mean simply not endorsing and using it - I mean actaully send it back? "
I've heard this also and am unclear on the matter. I've heard it is an advance on next year's refunds, which will be reduced accordingly. Can someone explain in plain english?
My opinion is that the rebate is a stupid idea by our Republican President and our Democrat Congress to pander for votes during an election year. I don't think it's going to stimulate the economy.
And the whole mortgage bailout thing is a great source of irritation to my husband and me, who live frugally on one income with no bailouts on the horizon should we fall on hard times. Sometimes it feels like the people who live responsibly in our country carry the burden for those who continually make poor life choices. It steams me.
Maggie
I've heard this also and am unclear on the matter. I've heard it is an advance on next year's refunds, which will be reduced accordingly. Can someone explain in plain english?
My opinion is that the rebate is a stupid idea by our Republican President and our Democrat Congress to pander for votes during an election year. I don't think it's going to stimulate the economy.
And the whole mortgage bailout thing is a great source of irritation to my husband and me, who live frugally on one income with no bailouts on the horizon should we fall on hard times. Sometimes it feels like the people who live responsibly in our country carry the burden for those who continually make poor life choices. It steams me.
Maggie
hiitdogs
Cathlete
Well, that people spend on things they don't need is the hope of the economic stimulus package. The thought is that people use the tax refunds they are getting (it is supposed to be sent out in May 08) and buy "stuff", that in return will stimulate the economy.
Whereas I am happy to get the money, I think it is a crappy idea from an economic point of view. They operate under the assumption that everyone who gets the money will turn around and spend the money, thus money is put into businesses and they in turn do better and create new jobs.
Well, the ones that are strapped the most, like lower-income families and middle-class can barely make ends meet as it is and can't spend it. $ 1,000 or $ 1,500 is a drop in the bucket for someone who doesn't know how to put food on the table. All the tax refund does is running up the national deficit even more. But hey, let's borrow the money from China, pay interest on money that we don't have. I guess our government is very much invested in the new American way, let's spend it before we have it, there is always credit cards and loans.
So much about fiscal responsibility!
About the housing issue I agree with you to a point that it is totally absurd!! People were getting into houses that they couldn't afford, other people used the equity in their homes as a "debit card" to pay for their cars, boats, vacations, second homes, gambling on the ever increasing housing values.
When I cautioned people back then that house prices would stop increasing and may eventually take a nose dive, I often heard, geeh what are you talking about house prices keep going up (Yeah, just like they thought in the 90s that stocks keep going up). It made me shake my head back then "HELLO don't spend money that you don't have" and now I am shaking it so hard that I am afraid it falls of my neck:+
That being said, the mortgage/housing crisis affects a LOT of people, not only a few idiots that want/need to be bailed out. In fact, the housing market effects all of us. House prices keep going down, mortgage companies are running HUGE losses, home builders and their suppliers are losing money and/or go bankrupt ..., therefore, jobs will be lost, unemployed people not only lose their houses as well, but they also have no money to spend which will effect other sectors of the job market and jobs will be lost there, too. Those people may lose their homes ........
That combined with the high gas prices, increasing health care cost, the cost of two wars, our ever rising national deficit, etc. The booming housing market was about the only saving grace we had for the last few years.
I for my part am sick and tired of the partisan bickering and finger pointing that has been going on in Washington and elsewhere for many, many years (and I am not only talking about our current administration). It kind of reminds me of my kindergarten class "But Mrs. Bauer, she did it!" "No, he did it" "No, she dit it!" ........... Enough already! Just get the $%##%^ job done and do what you are paid to do with our tax money!
Okay, I am getting off my soapbox for now http://smileys.smileycentral.com/cat/4/4_2_205.gif
Have a great day everyone!
Whereas I am happy to get the money, I think it is a crappy idea from an economic point of view. They operate under the assumption that everyone who gets the money will turn around and spend the money, thus money is put into businesses and they in turn do better and create new jobs.
Well, the ones that are strapped the most, like lower-income families and middle-class can barely make ends meet as it is and can't spend it. $ 1,000 or $ 1,500 is a drop in the bucket for someone who doesn't know how to put food on the table. All the tax refund does is running up the national deficit even more. But hey, let's borrow the money from China, pay interest on money that we don't have. I guess our government is very much invested in the new American way, let's spend it before we have it, there is always credit cards and loans.
So much about fiscal responsibility!
About the housing issue I agree with you to a point that it is totally absurd!! People were getting into houses that they couldn't afford, other people used the equity in their homes as a "debit card" to pay for their cars, boats, vacations, second homes, gambling on the ever increasing housing values.
When I cautioned people back then that house prices would stop increasing and may eventually take a nose dive, I often heard, geeh what are you talking about house prices keep going up (Yeah, just like they thought in the 90s that stocks keep going up). It made me shake my head back then "HELLO don't spend money that you don't have" and now I am shaking it so hard that I am afraid it falls of my neck:+
That being said, the mortgage/housing crisis affects a LOT of people, not only a few idiots that want/need to be bailed out. In fact, the housing market effects all of us. House prices keep going down, mortgage companies are running HUGE losses, home builders and their suppliers are losing money and/or go bankrupt ..., therefore, jobs will be lost, unemployed people not only lose their houses as well, but they also have no money to spend which will effect other sectors of the job market and jobs will be lost there, too. Those people may lose their homes ........
That combined with the high gas prices, increasing health care cost, the cost of two wars, our ever rising national deficit, etc. The booming housing market was about the only saving grace we had for the last few years.
I for my part am sick and tired of the partisan bickering and finger pointing that has been going on in Washington and elsewhere for many, many years (and I am not only talking about our current administration). It kind of reminds me of my kindergarten class "But Mrs. Bauer, she did it!" "No, he did it" "No, she dit it!" ........... Enough already! Just get the $%##%^ job done and do what you are paid to do with our tax money!
Okay, I am getting off my soapbox for now http://smileys.smileycentral.com/cat/4/4_2_205.gif
Have a great day everyone!
crazystepr
Cathlete
goldenrun358
Cathlete
I agree with Carola. Stop the bickering and get the job done! Enough is enough. Stop the bleeding.
Take the check and by a CD at the bank, wait until after the next years taxes before spending it.
They gave us a child credit check a few years ago and I almost had to pay all of it back the following year.
This is not the government the founding fathers had in mind.
Don't reelect anyone....
They gave us a child credit check a few years ago and I almost had to pay all of it back the following year.
This is not the government the founding fathers had in mind.
Don't reelect anyone....