Recession???

[TUDrewser]

Agree with all those previous comments.

I also think this "economic stimulus" package is a bad idea...Gov is borrowing however many billion dollars to send to Americans so we can spend money and stimulate the economy. All while we have like a trillion dollar debt in infrastructure repairs. Seems the money could be better spent building a new nuc power plant, or building roads, or just investing in our infrastructure. Or Florida's infrastructure ;-)

Why send it out to all of us so we can spend it on foreign electronics? Toys for the trucks might be ok, but even many of those aren't even MITUSA.

Ok, I'm done. So speaks the board noob.

[TUDrewser]

Originally Posted by mountainlander

Doesn't matter how many people have jobs when those that are employed continue to spend more than they make. Simple math, at some point it's all going to come crashing down....

Ain't that the truth! That's what started this whole thing to begin with

[HappeetxnR.N.]

Originally Posted by HappeetxnR.N.

I personally am leaning toward the belief that we are in a recession, what holds me back is that our unemployment rate is still only 5. something, which is great. However, the continuing economic uncertainty is concerning for me.

Originally Posted by mountainlander

Doesn't matter how many people have jobs when those that are employed continue to spend more than they make. Simple math, at some point it's all going to come crashing down....

Ok now you have convinced me we are in a recession!

Originally Posted by TUDrewser

I also think this "economic stimulus" package is a bad idea...Gov is borrowing however many billion dollars to send to Americans so we can spend money and stimulate the economy.

I agree with you on the rebates, think of all of the money that, will in part have to be borrowed from countries like china. Then think about all of the crap we as Americans will buy and where that crap is made..........china. So in the words of Mike Huckabee whose economy are we really going to stimulate?

In my opinion, if you have to spend the money you are going to get back please find American made products to spend it on (I'll do my part not to be a hypocrite!). Heck hire Seven Mallards to make repairs to your house etc....if not put it in the bank.
Again just my .02
Craig

[vitalidle]

Actually the way the rebates work as I understand it is they are borrowing the money from your next years return to give you the rebate this year. So next year your going to get less or pay in.

[TwinTurboStroker]

Originally Posted by vitalidle

Actually the way the rebates work as I understand it is they are borrowing the money from your next years return to give you the rebate this year. So next year your going to get less or pay in.

Thats what I heard too....brilliant planning right there

[TUDrewser]

Originally Posted by TwinTurboStroker

Thats what I heard too....brilliant planning right there

I think it's a reduction in next year's taxes paid out now...or something. And they still need the cash for it, which I heard they were borrowing. Or not?

Point being, I don't think you'll ever have to "Pay in" next year...if you were expecting to pay $100 in taxes next year, it doesn't suddenly go up to $1,600 you'll have to pay.

Regardless, it's a dumb idea.

[HappeetxnR.N.]

Originally Posted by vitalidle

Actually the way the rebates work as I understand it is they are borrowing the money from your next years return to give you the rebate this year. So next year your going to get less or pay in.

Dude you are soooooooo wrong! Nahhh, just kidding. I am actually relieved to hear that the money isn't being borrowed from another nation and glad that I was wrong about it.
Craig

[vitalidle]

Originally Posted by HappeetxnR.N.

Dude you are soooooooo wrong! Nahhh, just kidding. I am actually relieved to hear that the money isn't being borrowed from another nation and glad that I was wrong about it.
Craig

They probobly are robbing peter to pay paul, but I was just letting everyone know its not free money we will pay for the rebate in next years taxes you just won't get as much of a return.

[TUDrewser]

From the IRS web site:

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

Stimulus Payments: Answers to Frequently Asked Questions

[TUDrewser]

So not only will it not affect next year's taxes, if you don't qualify for a full stimulus payment this year but will on your 2008 return looks like you can file for the remainder of your stimulus payment on that 2008 return.