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MoneyTalks - > Money Talks -> How are you going to spend your economic stimulus package check?
How are you going to spend your economic stimulus package check?

How are you going to spend your tax refund and/or economic stimulus package check? A bunch of retailers are offering promotions to entice you into spending right away. Or will you pay down debt or invest with it?

 

Courtenay Edelhart

Business Reporter

Bakersfield Californian

cedelhart@Bakersfield.com

Posted in the Business & Finance interest group.
Topics: tax rebate and economic stimulus
posted by MoneyTalks on Tuesday, April 29, 2008 at 11:43 AM
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19 comments from 16 users

1

posted by CatherineBaker on Apr 29, 2008 at 08:59 PM

I think we're paying off our travel trailer.

posted by gsisola on Apr 29, 2008 at 07:18 PM

I'm going to *party mine down*...... pay for cab rides home too !! ..... might not be much time left to be happy soon !!

Keep it local yaknow... give some good tips to my fave barkeep... Heidi at MUGGs tavern... that little girl kicks ass !!!!

posted by TCinBako on Apr 29, 2008 at 04:55 PM

Let's see....... After 15 years of managing my life carefully my student loans are paid off, my last car was bought by cash that I saved, my credit cards are paid off monthly and my home loan to value is in good shape.  My 401k is doing as well as can be expected since I started saving the day I started working.  Looks like its money to burn now.   

I'm going to spend it and increase the demand for firearms and ammunition.  Hopefully creating at least part of a job for someone. Gonna buy me another firearm, stock up on some ammo and start to enjoy a little well earned return of my dollars.  I paid enough in this year, I'll spend it and enjoy it!  Gotta add a nice rifle to go with the sinlge action revolver.

posted by antiextremism on Apr 29, 2008 at 04:43 PM

I'm gonna help the American economy by spending it on the only two things left that are made here in the good ol USA....Hookers and beer. Okay, maybe not hookers, my wife frowns on that, and anyway, as Random pointed out on another blog, all the hookers are probably being imported now too.

posted by bakonative on Apr 29, 2008 at 04:08 PM

Don't feel bad OB, I can't even get one due to the phase out limits!

posted by OldBlue56 on Apr 29, 2008 at 04:05 PM

Since my wife and I are only getting $96 from the stimulus check, I guess we will go out to dinner on the Friday after we receive it, and spend it on dinner, just like we do every Friday night.

posted by johnburnssucks on Apr 29, 2008 at 03:33 PM

Anabolic steroids.

posted by jfrancais on Apr 29, 2008 at 03:03 PM

That's a good idea, baketown.

posted by baketown on Apr 29, 2008 at 02:59 PM

I'm going to buy a scooter so I can save on gas.

posted by jfrancais on Apr 29, 2008 at 02:39 PM

Look at it as professional development, msemilyh. It wont hurt that you went to grad school.

posted by msemilyh on Apr 29, 2008 at 02:37 PM

in th ebank with the rest of my measly tax return and let it earn a little measly interest until the zero percent on my credit card is up in september.  then use it to help pay off my college tuition.

 

get this irony- i went back to school so i could use the expenses as extra tax deductions.  what i got back is just not quite gonna cover the cost of my grad school expenses.  lesson learned i guess

posted by jfrancais on Apr 29, 2008 at 02:16 PM

I plan on saving my stimulus (universal welfare) check. All the spending of stimulus checks wont be enough to boost (bridge) the economic gap of this recession (downturn/slow period/ etc.)

posted by ChicoEsquela on Apr 29, 2008 at 12:44 PM

I'll explain two reasons why you should not spend your economic stimulus check

This would be like Reverend Jeremiah Wright offering to explain why he should be your pastor prior to your foray into politics!

posted by Maggiepoo on Apr 29, 2008 at 12:36 PM

Why you shouldn`t Spend your Stimulus Check?

I'll explain two reasons why you should not spend your economic stimulus check: the first applies to people who work regular jobs for wages, the second applies to people who work in investment banks for bonuses.

If you work for wages (or live on a pension), consider this, if every American said, "No thank you" to Bush's stimulus check and refused to cash them, the value of the dollars in your pocket right now, in terms of their purchasing power would go up by a factor greater than the face value ($600) of the stimulus check. In other words, if you didn't spend these checks, you'd be the richer for it.

The reason being that America does not have a hard-money economy, it's a debt-based fiat currency economy. All the money in circulation in America has been borrowed and then re-lent. So borrowing more money ($168 billion for the stimulus package) and then re-lending it to Americans, as Bush is doing, only increases the debt load and debases the value of the currency outstanding (against a backdrop of stagnant wages and minuscule interest rates for savers).

 This is why America's debt problems won't go away. Every dollar spent adds debt and spawns more fiat currency issuance which has the effect of decreasing the purchasing power of the U.S. dollars in your pocket. Bush tries to make up the difference by borrowing even more; borrowing 340 million a day to fund the war and close to 3 billion a day to cover U.S. operating expenses, not to mention Wall Street borrowing over $30 billion a day to keep their Ponzi scheme going. All this borrowing keeps alive the vicious financial spiral trending lower towards permanent currency debasement and possible sovereignty loss.

In a year or so, after 99.999% of America has cashed their stimulus check, any checks that have not been cashed will accrue value as collector's items.

As such, the value of these checks as un-cashed mementos of the failed Bush presidency should appreciate at the inflation rate plus a collector's item premium rate for years to come.

As a matter of fact, an enterprising soul might make a pretty penny by setting up a website to buy people's un-cashed stimulus checks at the face value plus a small premium. Five to six years from now, you might be able to re-auction and sell these un -cashed checks on eBay for double or triple the price you paid to Asian and European collectors buying these up like visitors to the Berlin Wall who buy chunks of concrete left over after the collapse of East Berlin.

http://www.huffingtonpost.c...

 

 

 

 

Nosey, lonely,unsatified,unloved,short

 

 

posted by Griffon64 on Apr 29, 2008 at 12:23 PM

Going in the bank. Goodness knows the mere thought of spending money makes me queasy. 

Unlike randomfactor, I'm putting it in the bank to recoup the cheque I just wrote to the IRS. We could have saved each other some trouble if we had let the two cancel out, but the system works the way it works.

Which reminds me, I have to adjust my withholdings a little so I don't get whacked by another Fed Tax bill next year.

posted by randomfactor on Apr 29, 2008 at 12:12 PM

You should write next week's lotto numbers on it before sending.

posted by sfinboston52 on Apr 29, 2008 at 12:12 PM

going to invest mine.

posted by citybeat on Apr 29, 2008 at 12:06 PM

I'm sending it to my past self. 

(I heard this thing on the radio this weekend, this guy describing debt as your future self sending you money. The question, he said, is whether your future self feels good about that.)

posted by randomfactor on Apr 29, 2008 at 11:58 AM

None of the above.  Going in the bank so I can give it back to the government on schedule next year.

1

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