Barak's financial stimulus plan explained

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StrongTurd

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In layman's terms:

This year, taxpayers will receive an Economic Stimulus Payment. Here is a brief explanation:

Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.

Q. Where will the government get this money?
A. From taxpayers.

Q. So the government is giving me back my own money?
A. Only part of it.

Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.

Q. But isn't that stimulating the economy of China ?
A. Shut up.
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BandwidthAddict

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LOL .. That is so true!!!! Although only half the truth. The other half is how 88% of the "stimulus" package is nothing more than funding programs that the demorats could not get passed if it was made widely known. Things like $300odd mil for buying condoms, 2.2B for national parks, a whole wackload for welfare, many pork projects that have nothing to do with stimulus but good for future re-election etc. Only 12% is actually going to projects that have a chance to stimulate the economy.
 
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krycor

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Well Bush left a lot of abusive power in place and i doubt the democrats will not try and wield it a few times
 
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Alan

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Nevermind the facts. All you need is faith. :rolleyes:

Stimulus is Too Heavy on Spending, Say Growing Number of Senators


It'll need to change if it'll do any good. I mean, things like $150 million honey bee insurance and $650 million to buy government employees cars is not what the American public had in mind," McConnell said on CBS' "Face the Nation."

Republicans appear to have the support of some Democrats, including North Dakota Sen. Kent Conrad, head of the Budget Committee, and Nebraska Sen. Ben Nelson.

"As it stands it would be very hard for me to vote for this package, because I don't think it is fully targeted, timely and temporary," Conrad said. "I think there is widespread dissatisfaction with the package that came over from the House."
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Honey bee in insurance :eek:.

While Obama has stressed bipartisanship in the process, all House Republicans were joined by 11 Democrats in opposing the House package
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The great unifier lol

His cabinet appointees can't even keep their taxes in order :eek:

Tax troubles arise for 2nd Obama Cabinet nominee
 
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km2

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StrongTurd said:
In layman's terms:

Q. Where will the government get this money?
A. From taxpayers.
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Now now, we all know that's not true. Since when does America believe in actually making ends meet? Instead it will be further borrowed from China, in order to buy more Chinese goods.

Honestly I don't know how long they can keep running up these huge debts and trade deficits. The chickens are just taking a really long time to come home.
 
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StrongTurd

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km2 said:
Now now, we all know that's not true. Since when does America believe in actually making ends meet? Instead it will be further borrowed from China, in order to buy more Chinese goods.

Honestly I don't know how long they can keep running up these huge debts and trade deficits. The chickens are just taking a really long time to come home.
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I couldn't agree more.

Next week the Senate will, with a few self-serving tweaks of course, pass their own version of the 1 trillion dollar stimulus package. Soon thereafter the bill will wend its way up Pennsylvania Avenue to be signed into law by President Obama. And with one stroke of the pen, our new Chief Executive will move us one giant step forward toward federal bankruptcy.
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Source.
 
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dghough91

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Apr 20, 2006
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383
I love 'economic stimulus' packages.. in Australia, there was one in December (got $3000) and now there's another (will get close to $5000). $8000 x 6.5 = R52,000 for nothing. Definitely sending the money back to SA... so much for stimulating the Australian economy ;) Greedy? Oh well. The government could've thought of a better strategy than just handing out money to people who'll just blow it on plasma screen TV's and beer.
 
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sleeper

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Hi dghough91,

Please tell me how the #@$$ you managed to get $3000 from the previous package (AFAIK this was intended for ppl earing waaay little, and it was not that much, something like 1K or 1.5K), and how do you plan to get another $5000 from the one coming in April. From what I've read, you get +- $950 in April if you earn less than 80K per year, like $600 if less than 90K etc. You are implying that there are 5 ppl living in your household earing less than 80K pa? And you are receiving all the moolah? Am I missing something here?

I agree that these packages are going to cause more harm than anything else. The government seems to be on a spending spree to try and keep the economy going and it will probably be bad for the country in the long run. Interest rates fell to 3.25% (or is that 3.75%) today - a 45 year low. But, seems like all the developed countries seem to be grasping at straws to keep things moving....

Please let me know what I am missing here.... Cause I can't see how you managed to get that much from the stimulus packages...
 
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dghough91

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Apr 20, 2006
Messages
383
sleeper said:
Hi dghough91,

Please tell me how the #@$$ you managed to get $3000 from the previous package (AFAIK this was intended for ppl earing waaay little, and it was not that much, something like 1K or 1.5K), and how do you plan to get another $5000 from the one coming in April. From what I've read, you get +- $950 in April if you earn less than 80K per year, like $600 if less than 90K etc. You are implying that there are 5 ppl living in your household earing less than 80K pa? And you are receiving all the moolah? Am I missing something here?

I agree that these packages are going to cause more harm than anything else. The government seems to be on a spending spree to try and keep the economy going and it will probably be bad for the country in the long run. Interest rates fell to 3.25% (or is that 3.75%) today - a 45 year low. But, seems like all the developed countries seem to be grasping at straws to keep things moving....

Please let me know what I am missing here.... Cause I can't see how you managed to get that much from the stimulus packages...
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Hi there

$3000 ($1000 per child) from the December package.

The newly announced package isn't just a one off $950 payment - it's $950 per child, plus $950 per single income earner plus the educational cash reclaim (50% - max $1500 for secondary students). So it roughly adds up to about $5000-5500 for round two of Mr. Rudd's cash spree.

See: http://www.centrelink.gov.au/internet/internet.nsf/individuals/bonus_payments_feb2009.htm

I don't agree with the notion of handouts at all, and to be quite honest I think a lot of this money is going into the wrong hands. Remember the baby bonus? everyone ran to the shops with their $4000 (or $5000) and bought a pram and Plasma TV.

I suppose it's our taxes though.. hooray for the interest rate drop too :)
 
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sleeper

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Sep 30, 2005
Messages
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Arrgghhh!!! That is bullcrap!!! :(

Both my wife and I are working and my kid is 2.5yrs :( Boo hoo - not getting handouts :( Damn, I always seem to miss out on these things...

About buying the plasma TV's - that is what they intended with the handout (I think) - to get ppl to blow cash on stuff they wouldn't have to boom the economy a bit.

Good on you for scoring with both these packages... and thanks for the link - explains a bit more.

Cheers mate !
 
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