Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-18-2008, 12:21 PM   #21
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by DallasGuy View Post
I read that if they give a rebate only people under a certain income would probably get it. One online article speculated that only singles making under $85,000 and couples making under $110,000 would get it. I suppose that makes sense since they are the people most likely to need it and most likely to spend the rebate. Of course, it still remains to be seen if there will be income limits on a rebate.
I also heard the word "workers" in the rebate plan. So us retired folks may be out of luck .
__________________

__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-18-2008, 01:35 PM   #22
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
I was kidding about the HD TV, although I agree many will buy one. But now we have to wait until June 2008 to get the money; talk about acting quickly.

My solution would be to give every valid and still alive SSN with a good address a DEBIT CARD with maybe a 90 Day expiration date. That way everyone would get one; it is quick and IT WILL BE 100% spent or the card expires. "Simple, Quickly done and Quickly spent". I bet this is too simple for the folks in Washington, DC, especially for those that think quick is June 2008.
__________________

__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 01-18-2008, 01:43 PM   #23
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
If we get 16 hundred bucks, it won't buy any new toys. It'll either go to our IRAs or towards paying down a couple minor debts.
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy

“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
martyb is online now   Reply With Quote
Old 01-18-2008, 02:39 PM   #24
Full time employment: Posting here.
CCdaCE's Avatar
 
Join Date: Apr 2006
Posts: 887
I thought Forbes had a good article covering most of the bases, or alleged bases.

-CC
__________________
"There's those thinkin' more or less, less is more, but if less is more, how you keepin' score?
It means for every point you make, your level drops. Kinda like you're startin' from the top..." "Society" - Eddie Vedder
CCdaCE is offline   Reply With Quote
Old 01-18-2008, 02:40 PM   #25
Recycles dryer sheets
 
Join Date: Dec 2005
Posts: 137
It's doubtful it'll have any impact. We're in an insolvency crisis (along with a few others including a consumer debt crisis), all the money will do is make voters look a little more kindly on the incumbent president, perhaps.

Actually there's not much either the Fed or the fed govt. can do to fix things, it just has to work it's way through.
__________________
danm is offline   Reply With Quote
Old 01-18-2008, 03:46 PM   #26
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
The scary part is that the $145 billion would probably be better spent guaranteeing all of the subprime debts that got us into this mess.

The Fed has been almost totally befuddled by this whole thing. The only thing that has been positive is the fed fund auctions. That has kept banks with enough liquidity to maintain their solvency.

Overall, Greenspan put the rates too low for too long and then raised them too high. He also could have stopped the subprime mess when it was just starting but he cheered it on. Bernacke raised rates when he came in to show he was tough but that just guaranteed the collapse. Now they need to drop rates dramatically to get things going and then raise them slowly back up.

I do think the stock market mania is way over done. Non-financial companies seem to be doing well but punished along with everything else. The S&P fell about 50% during the 2001/2003 fall but earnings had already collapsed. We're almost half way there since Oct 07 and overall S&P earnings are still rising.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 01-18-2008, 04:15 PM   #27
Recycles dryer sheets
barbarus's Avatar
 
Join Date: Aug 2007
Posts: 433
Quote:
Originally Posted by danm View Post
Actually there's not much either the Fed or the fed govt. can do to fix things, it just has to work it's way through.
Quite true, but they can make the situation much worse and probably will.
__________________
barbarus is offline   Reply With Quote
Old 01-18-2008, 05:42 PM   #28
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,951
I guess I'm shocked at the "free money' comments.

I beleive this will be a tax cut/rebate so while I like the idea of paying less taxes, Im probably just getting my own money back if I even qualify. Since they want this directed at whoever they think will use it to consume more. During Bernanke's testimony, they fretted over how to get money to non-filers (helicopters!) Since they want they money to be used for consumer goods, perhaps they will send Wal-Mart gift cards instead of checks.
__________________
jazz4cash is offline   Reply With Quote
Old 01-18-2008, 05:44 PM   #29
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
Lots of folks think in terms of 'Free Money' from the government.
__________________
Rustic23 is offline   Reply With Quote
Old 01-18-2008, 05:51 PM   #30
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,951
Quote:
Originally Posted by Rustic23 View Post
Lots of folks think in terms of 'Free Money' from the government.
Yeah...but I did expect to find as many on this board.
__________________
jazz4cash is offline   Reply With Quote
Old 01-18-2008, 09:29 PM   #31
Thinks s/he gets paid by the post
 
Join Date: Apr 2007
Posts: 1,304
Quote:
Originally Posted by Bikerdude View Post
I also heard the word "workers" in the rebate plan. So us retired folks may be out of luck .
WHAT! Call my lawyer! ...sue ...sue ... class action
__________________
Life is GREAT!
megacorp-firee is offline   Reply With Quote
Old 01-18-2008, 09:46 PM   #32
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Posts: 2,119
1600, might go towards my trip to the Summer Olympics. In China, go figure.
__________________
newguy88 is offline   Reply With Quote
Old 01-19-2008, 12:24 AM   #33
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: Willamette Valley, Oregon
Posts: 831
Quote:
Originally Posted by Retire Soon View Post
President Bush and congress are working on an economic stimulus package that could put as much as a $1,600 tax rebate in the hands of a married couple or $800 for a single person. With 70% of our economy dependent upon consumer spending, this could certainly help revive our sputtering economy. Do you agree or disagree?

Agree. I recall tax rebates were used to good effect back in 2000 or 2001 when the recession and tech bubble burst were hurting the economy. 2003 the stock market started going gangbusters along with the revived economy.
__________________
Dreams Worth Dreaming are Dreams Worth Planning For. I Spent a Career Planning for Early Retirement.
RetireeRobert is offline   Reply With Quote
Will it stimulate the economy?
Old 01-19-2008, 08:34 AM   #34
Dryer sheet wannabe
 
Join Date: Jan 2008
Posts: 10
Will it stimulate the economy?

I read an interesting post on this over at musings on personal finance -- to summarize, Americans have such a poor savings rate, that it's a pretty good bet that that money will go directly into the economy. Now, I'm not sure on a higher level what kind of impact it will make . . .
__________________
hellodeli1 is offline   Reply With Quote
Old 01-19-2008, 08:50 AM   #35
Recycles dryer sheets
Arc's Avatar
 
Join Date: Sep 2006
Posts: 370
More wealth redistribution anyone? I agree with Unclehoney - let the market forces work!

Note: Comment biased by expectation that I would not be one of the lucky check recipients.
__________________
Arc is offline   Reply With Quote
Old 01-19-2008, 09:45 AM   #36
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
Quote:
Originally Posted by Bikerdude View Post
I also heard the word "workers" in the rebate plan. So us retired folks may be out of luck .
The "unofficial White House plan" is to suspend the 10% tax code rate, which is the bottom rate that everyone with taxable income actually pays. The intention of the plan is to give a rebate to anyone who pays income taxes, which would include ER's like many of us. It's interesting to note that 57 million Americans pay no federal income taxes at all, and would receive no benefit under the administration's proposal. This group of people includes 30 million low wage earners and the rest mostly retirees. Democrats are pushing to extend the White House plan by including everyone who filed an income tax return, whether or not they actually paid taxes. The bottom line is that President Bush would like to include us ER's who pay income taxes receive the $800/$1600 tax rebate and not just w*rking foks.

Bush, Democrats Spar on Stimulus - WSJ.com
__________________
Retire Soon is offline   Reply With Quote
Old 01-19-2008, 10:09 AM   #37
Recycles dryer sheets
 
Join Date: Jun 2007
Location: Oklahoma City
Posts: 275
My parents make about 20k from a annuity pension.

After the standard married deduction of 10K(?) and the 2 exemption for self and spouse they have about 3000 of taxable (10% tax bracket) income. So eliminating the 10% tax bracket would result in 300 dollars for them I guess. Which actually would be of some help at their level.

If their annuity was 17k they would be outta luck I suppose.
__________________
militaryman is offline   Reply With Quote
Old 01-19-2008, 10:11 AM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Retailers would be smart to tailor their prices to the rebate. If the rebate is $1,600, price the HDTV to exactly $1,600, and call it the "Free After Rebate" TV.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 01-19-2008, 10:16 AM   #39
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,103
Quote:
Originally Posted by TromboneAl View Post
Retailers would be smart to tailor their prices to the rebate. If the rebate is $1,600, price the HDTV to exactly $1,600, and call it the "Free After Rebate" TV.
Yep. Might also be a good idea to do a "Cash your rebate check here for free and get XX% off anything in the store" promotion.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-19-2008, 10:19 AM   #40
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,100
Quote:
Originally Posted by MikeD View Post
According to Robert Samuelson, who I read in the Washington Post, it will be too small to have an effect on an economy as big as ours.

I have not linked to this site before but I found the article on the Interweb:
RealClearPolitics - Articles - Stimulus Will Be Unneeded or Too Little

Mike D.
I tend to agree. $100B rebate sounds a lot, but it is a $14T economy. However, politically they always have to do something.
__________________

__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Special Package arrived today brewer12345 Young Dreamers 60 07-03-2006 08:04 PM
Best place to find cheap vacation package? thefed Other topics 8 05-10-2006 10:31 PM
Our FIRE Pastime Has Arrived .... in A Package Under FIRE Life after FIRE 6 10-12-2005 04:13 PM

 

 
All times are GMT -6. The time now is 04:47 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.