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Posted: Jan 28 2008 08:48 pm

So by now I assume that you all know about the proposed Government plan to pretty much give free money to anyone who files a 2007 tax return. If not the plan is that if the government gives money to the people the people will go out and spend spend spend. According to my dad ( an accountant) the majority of filers will get 300-600 dollars.

Apparently thats not enough as congress wants to up it considerably.
http://www.msnbc.msn.com/id/22881460

When i first found out about this (to my amazement) i wasn't thinking about buying a ps3 wii or anything entertainment related. My first thought was "What the fuck is the government doing"? Obviously most people will be happy to get free money but am I the only person worried about what this is gonna do to the future of the economy? 150 bill does not appear out of nowhere. As great as it is to get free money this really has me worried.

Posted: Jan 28 2008 09:02 pm

I see two problems with this plan:

1. When asked where this money would come from, a member of the Tresury Dept mentioned something about printing more money. This would deflate the value of the already falling dollar.

2. It may have the opposite effect of what the government hopes. People know that a recession is imminent, and therfore, many may put the extra money into savings instead of putting back into the economy.

Posted: Jan 28 2008 09:18 pm

Yeah, this is yet another of many big mistakes of the administration that will have serious repercussions and we'll have to repair for the rest of our lives. Trying to win back our favor is a moot issue at this point.

Posted: Jan 29 2008 12:15 am

I'll probably put half into savings and blow the other half. But yeah, this is a bit concerning.

Posted: Jan 29 2008 12:22 am

Char Aznable wrote:

I'll probably put half into savings and blow the other half. But yeah, this is a bit concerning.

And that's the problem with giving people tax cuts and breaks and expecting that to fix the economy. The proponents of lower taxes and tax breaks assume that, by giving people their money back, they'll go and blow it on material things and therefore stimulate the economy with their collective increased purchasing power. That is a falsehood because while people may spend some of it on a new tv or groceries or whatnot, the majority of people will do the wiser thing and put it into their savings account, thereby taking money OUT of the economy and letting it sit in a bank where it doesn't do dick for the economy.

Joined: Apr 14 2006 Location: Lake Michigan Posts: 3332

Better than the government wasting it...except in this case where they're just printing more of it anyway.

Posted: Jan 29 2008 02:05 am

This sounds like the last desperate action of a government that is teetering towards a depression and doesn't know what to do about it.

Posted: Jan 29 2008 02:18 am

RobotGumshoe wrote:

This sounds like the last desperate action of a government that is teetering towards a depression and doesn't know what to do about it.

I smell a hook for a new Timecop movie.

All joking aside, this does worry me.

Posted: Jan 29 2008 03:21 am

Fuck man, it worries ME! Germany went into a depression because they kept printing more and more money.

Title: SpamBot Joined: Jan 25 2007 Posts: 7

ross_rifle113 wrote:

Fuck man, it worries ME! Germany went into a depression because they kept printing more and more money.

Aye, it is Jew's fault! Twisted Evil

Posted: Jan 29 2008 03:49 pm

Cattivo wrote:

Better than the government wasting it...except in this case where they're just printing more of it anyway.

I agree; I just wish the govt could find a decent solution that doesn't include "printing more money and fucking all of us."

You know what's going to happen? The federal govt is going to print more money, give it to all of us, and tell us that everything is going to be ok. Then, when the new pres takes over and the whole economy goes to shit because the dollar is worth nothing, Bush is going to look around and say "Who, me?"

You can't refuse to take the blame for 9/11 and the dotcom bust and then refuse to take the blame for the eventual depression as well. People need to learn their lessons: voting a Bush into office = guaranteed recession.

Posted: Jan 29 2008 06:05 pm

Oh, and I can't believe it hasn't been said already but; I got yer government stimulus package right here! (At which point, I would grab my crotch thusly)

Posted: Jan 29 2008 06:23 pm

We need to stop outsourcing, and we're importing too much.

Posted: Jan 29 2008 08:46 pm

See, I'm kinda pissed about this because my family could really use this money. Of course, we don't pay taxes. Because we're poor. Which is why we need the money we would get from paying taxes.

Posted: Jan 30 2008 12:09 am

Char Aznable wrote:

We need to stop outsourcing, and we're importing too much.

Yeah! So everyone stop buying Wiis and PS3s, and get yourselves xbox 360s already!!!

Posted: Jan 30 2008 12:24 am

I meant from China.

Posted: Jan 30 2008 01:37 am

Knyte wrote:

Char Aznable wrote:

We need to stop outsourcing, and we're importing too much.

Yeah! So everyone stop buying Wiis and PS3s, and get yourselves xbox 360s already!!!

360 hater!

(btw, This Is A Joke

)

Posted: Jan 30 2008 07:10 am

Uh, Microsoft is based in Hell, not the United States.

Posted: Jan 30 2008 07:08 pm

But Hell and the US have strong ties, both financially and politically.

If anything, the USA could be renamed North Hell.