Stimulus

[robotech_master]

You know, the dictionary definition of "stimulus" is "something that rouses or incites to activity."

I hereby propose we should stop using the term "economic stimulus" and instead call it the "poking-the-economy-with-a-stick package."

Comments

[genchaos.livejournal.com]

Bah. The bloody thing is going to help pay off my credit card. Stimulus, yeah, right.

[foomf.livejournal.com]

Just remember that it gets deducted from money you would otherwise get back next year.

[genchaos.livejournal.com]

*dry* This fails to surprise me, honestly. I am not particularly overloaded with trust for our glorious guvment at the moment.

[robotech-master.livejournal.com]

Well, that's technically true. You can get an extra $600 back this year, or you can get an extra $600 back next year. But either way, it is extra money, not money that gets sucked out of your 2008 refund.

Taking the $600 this year just means you can't take the $600 next year. (http://robotech-master.livejournal.com/351622.html?thread=309638) And according to the Time Value of Money, an amount of money in your hands now is always better than the exact same amount in your hands next year. Interest and all that.

If you don't qualify for the maximum rebate based on 2007 income, you get another shot for 2008. The law provides a one-time tax credit for 2008; but because it was intended to get money into people's hands as quickly as possible, Congress ordered the IRS to distribute the money in 2008 rather than wait for people to file their 2008 tax returns. As a result, the IRS used 2007 tax returns as a guide.

What this means is that people who don't qualify based on 2007's return could take steps to bring themselves into compliance based on 2008's return.

Pegged it

[amigoid.livejournal.com]

Yeah I can bet the credit card companies are howling, "Waaaa! We screwed the people with our fee structure and insane rate, and now they can't pay the bills because someone else screwed them on their home loan! No fair! We get to screw them first! (To which the congresscritters point out THEY have first dibs and everyone else gets sloppy seconds.)

Already heard of (Walmart?) some store offering to add 10% to the total check if you cash it into a store gift card.

Yeah. Its my own damn fault I can't read the fine print and make sure the loan rates were legit. My own fault. Feh.