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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Tax Rebate-Spin-off
The purpose of the rebate is to stimulate the economy. If that's the case, what should we spend it on?
Pay off debt?
Buy a house?
Improve your house?
Take a vacation?
Thoughts?
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Posted 1/25/08 9:50 AM  |
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Long Island Weddings
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MetsGirl07
LIF O2 Vendor
Member since 12/07 16202 total posts
Name:
Deanna
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Re: Tax Rebate-Spin-off
paying off debt... i hate debt 
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| Posted 1/25/08 9:51 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Tax Rebate-Spin-off
pay off debt.... I think that is what politicians keep saying that people should do with the money....
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| Posted 1/25/08 9:52 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Tax Rebate-Spin-off
hmm...so we pay off our debt. And then take our money and do what?
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| Posted 1/25/08 9:54 AM |
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MetsGirl07
LIF O2 Vendor
Member since 12/07 16202 total posts
Name:
Deanna
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Re: Tax Rebate-Spin-off
Posted by Blu-ize
hmm...so we pay off our debt. And then take our money and do what?
then i would go on a vacation!!  
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| Posted 1/25/08 9:55 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Tax Rebate-Spin-off
If we actually get it - DH and I plan to place most of it in our savings for that one time something does go wrong!
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| Posted 1/25/08 9:55 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Tax Rebate-Spin-off
Posted by PotofLuck06
If we actually get it - DH and I plan to place most of it in our savings for that one time something does go wrong!
now, I like that, but that isn't the intention of the rebate.
I think a lot of people will stash it somewhere and that will not help the economy.
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| Posted 1/25/08 9:57 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Tax Rebate-Spin-off
Posted by Blu-ize
Posted by PotofLuck06
If we actually get it - DH and I plan to place most of it in our savings for that one time something does go wrong!
now, I like that, but that isn't the intention of the rebate.
I think a lot of people will stash it somewhere and that will not help the economy.
But in today's economy, it's so hard to save when bills are coming in 1-2-3% higher then normal due to elevated heating costs, etc.
Too much $$ is going out than coming in. Even our salary raises for cost of living increase is a joke - it doesn't cover the basics year to year. 
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| Posted 1/25/08 10:00 AM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Tax Rebate-Spin-off
I have so many things I would want to use if for, don't know which one I would choose:
A few minor home repairs
Put it towards a trip to AK to see my daughter
Put it towards a trip to see DH's family in TX
Be real selfish and go on a shopping spree w/DH
Bills
The list goes on....
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| Posted 1/25/08 10:02 AM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: Tax Rebate-Spin-off
honestly--i doubt it will stimulate the economy at all. people will either pay down a little debt----OR they might put it towards something that they want to purchase--but really more likely they'll wind up incurring more debt and are no better off than they were
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| Posted 1/25/08 10:04 AM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Tax Rebate-Spin-off
Posted by MrsPJB2007
honestly--i doubt it will stimulate the economy at all. people will either pay down a little debt----OR they might put it towards something that they want to purchase--but really more likely they'll wind up incurring more debt and are no better off than they were
I was thinking the same thing.
They want it to go to the economy, but people are in so much debt these days "contributing" to the economy in the past that I think most people will just put it towards their bills. Which won't help the economy now.
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| Posted 1/25/08 10:06 AM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: Tax Rebate-Spin-off
Posted by Mssissy
Posted by MrsPJB2007
honestly--i doubt it will stimulate the economy at all. people will either pay down a little debt----OR they might put it towards something that they want to purchase--but really more likely they'll wind up incurring more debt and are no better off than they were
I was thinking the same thing.
They want it to go to the economy, but people are in so much debt these days "contributing" to the economy in the past that I think most people will just put it towards their bills. Which won't help the economy now.
Yeah totally. the problem is that too many people are in such serious CC debt.
lets say you get your rebate for you and your spouse of like $600..many people will say "ooo--i can pay down that credit card!" and then they bring their debt down a little bit.....BUT that's when the irresponsibility comes in and then they say "well now that THAT card is paid down -- i can buy that tv/ps3/designer handbag/shoes/etc. that I wanted cause my CC balance is down!"
Its a viscious cycle -- and heck I've been a part of it too! Especially when I was in college and at the age of 18 -- I had received 3 different credit cards with a total of about $3K in limits...boy I thought it was christmas!
People aren't responsible with their debt today-- and THAT is a bigger problem that a $300 rebate per person--isn't going to solve
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| Posted 1/25/08 10:10 AM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: Tax Rebate-Spin-off
Putting my Economist pants on...
The best thing to do for the economy? Buy a big-ticket item that was manufactured in the US. While this might be impossible to find, it is really the ONLY way this cr@ppy idea will work.
Paying down debt will make everyone feel better but doesn't help the economy, as the things you bought with the money are already "sold" and aren't helping manufacturers, retailers, etc.
....taking pants off... 
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| Posted 1/25/08 10:15 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Tax Rebate-Spin-off
Posted by Blu-ize
The purpose of the rebate is to stimulate the economy. If that's the case, what should we spend it on?
Pay off debt?
Buy a house?
Improve your house?
Take a vacation?
None of the above. I'm not entitled to a rebate even if this does pass. If I were, I'd reinvest it in the stock market or other investment vehicles. Downturns in the economy are notriously good times to BUY... but everyone is too afraid to do so.
Look at it as free money - money you can afford to lose. Invest it wisely, but with the knowledge that you can afford to lose it, and you just might see a big pay off if you're smart about it.
Message edited 1/25/2008 2:39:12 PM.
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| Posted 1/25/08 10:17 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Tax Rebate-Spin-off
Posted by melbalalala
Putting my Economist pants on...
The best thing to do for the economy? Buy a big-ticket item that was manufactured in the US. While this might be impossible to find, it is really the ONLY way this cr@ppy idea will work.
Paying down debt will make everyone feel better but doesn't help the economy, as the things you bought with the money are already "sold" and aren't helping manufacturers, retailers, etc.
....taking pants off...
\
how about taking a domestic vacation?
i agree, this is not going to work. It's a political move. Hey, I won't turn down the money, but I think it's going to bite us in the butt later.
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| Posted 1/25/08 10:20 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Tax Rebate-Spin-off
Posted by Kara
Posted by Blu-ize
The purpose of the rebate is to stimulate the economy. If that's the case, what should we spend it on?
Pay off debt?
Buy a house?
Improve your house?
Take a vacation?
None of the above. I'd reinvest it in the stock market or other investment vehicles. Downturns in the economy are notriously good times to BUY... but everyone is too afraid to do so.
Look at it as free money - money you can afford to lose. Invest it wisely, but with the knowledge that you can afford to lose it, and you just might see a big pay off if you're smart about it.
I agree. If I get anything more than $2.50 I will probably invest it. there are a few stocks I have my eyes on.
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| Posted 1/25/08 10:21 AM |
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QuoteTheRaven424
22 Months?!!!!
Member since 5/05 13659 total posts
Name:
And If That Isn't A True Blue Miracle
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Re: Tax Rebate-Spin-off
putting it right in the bank, or in one of my funds
if the economy is going down, i'm prepared
debt free and have a great chunk saved
and now would be the best time to invest in the stock market or an IRA
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| Posted 1/25/08 10:27 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Tax Rebate-Spin-off
Posted by Blu-ize
The purpose of the rebate is to stimulate the economy. If that's the case, what should we spend it on?
Pay off debt?
Buy a house?
Improve your house?
Take a vacation?
Thoughts?
If one wanted to really further the purpose of stimulating the economy, then I would think they best way to use the money would be to go shopping.
Personally, I will use it to pay off debt.
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| Posted 1/25/08 11:13 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Tax Rebate-Spin-off
Posted by PotofLuck06
Posted by Blu-ize
Posted by PotofLuck06
If we actually get it - DH and I plan to place most of it in our savings for that one time something does go wrong!
now, I like that, but that isn't the intention of the rebate.
I think a lot of people will stash it somewhere and that will not help the economy.
But in today's economy, it's so hard to save when bills are coming in 1-2-3% higher then normal due to elevated heating costs, etc.
Too much $$ is going out than coming in. Even our salary raises for cost of living increase is a joke - it doesn't cover the basics year to year.
THIS is what makes this tax rebate not really an economic stimulus package. I'm not saying there is no merit in the tax rebate at all (it will help people who may need extra money), but the money isn't going to ultimately wind up where it will do the most good for the economy as a whole. I'm going to hold out hope that if it goes through, it will at least raise consumer confidence and increase consumer spending.
Unfortunately, people would be up in arms if a package was offered giving tax incentives / rebates to the people and companies that have a better chance of doing the most good for the economy -- b/c they're the people and companies that likely already have money... It's just a concept many don't like, and that would be political suicide this year...
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| Posted 1/25/08 11:23 AM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: Tax Rebate-Spin-off
Posted by Blu-ize
Posted by melbalalala
Putting my Economist pants on...
The best thing to do for the economy? Buy a big-ticket item that was manufactured in the US. While this might be impossible to find, it is really the ONLY way this cr@ppy idea will work.
Paying down debt will make everyone feel better but doesn't help the economy, as the things you bought with the money are already "sold" and aren't helping manufacturers, retailers, etc.
....taking pants off...
\
how about taking a domestic vacation?
i agree, this is not going to work. It's a political move. Hey, I won't turn down the money, but I think it's going to bite us in the butt later.
That'll work, when do we leave...
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| Posted 1/25/08 11:42 AM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: Tax Rebate-Spin-off
paying off debt
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| Posted 1/25/08 11:43 AM |
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J9-13
We're gonna be big sisters!
Member since 6/06 14887 total posts
Name:
J9
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Re: Tax Rebate-Spin-off
If I have any credit card debt by then , I will use it for that. If not, it will be used towards our money that is saved for a house.
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| Posted 1/25/08 12:47 PM |
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Re: Tax Rebate-Spin-off
First, I'm  that this is approved!!
We were talking about it last night, originally I was thinking of saving it but then I realized that wouldn't do anything for the economy. And I'd love to pay off some CC debt but since those items are already sold it still wouldn't do anything for the economy. So we discussed going on vacation or possibly putting it into the house.
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| Posted 1/25/08 1:08 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Tax Rebate-Spin-off
I'll use my $$ to buy a tank of gas.... 
Actually, we'll probably buy something for the house. We've been in that mode lately anyway. This rebate won't drastically change anything for us, just give us a little unexpected cash to play with.
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| Posted 1/25/08 2:37 PM |
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jax1023
LIF Adult
Member since 3/07 1165 total posts
Name:
Jackie
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Re: Tax Rebate-Spin-off
I feel very lucky that we dont have any debt to pay off, exept my student loans, which serve me better paying off slowly.
We will either use it towards a vacation we planned to take anyway or buy a flat screen tv.
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| Posted 1/25/08 5:21 PM |
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