The 2001 Tax Rebates Did Not Help Much

Discussion in 'Economy' started by Toro, Jan 21, 2008.

  1. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,786
    Thanks Received:
    11,059
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,123
    So Washington is going to send us a tax rebate check. Awesome. Mine's going into the bank.

    http://www.nber.org/papers/w9308.pdf

    Its good political theater, but sending rebate checks to Americans did not help the economy much in 2001. When he was Treasury Secretary, Paul O'Neil said rebates would not help since they tried it when he was in the Ford administration and had little effect.
     
  2. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,623
    Thanks Received:
    4,860
    Trophy Points:
    1,130
    Ratings:
    +15,535
    Yeah I read something similar to this the other day about O'neill's feelings from 2001.

    Tell me something...this money comes from either printing it, or borrowing it, because we don't even HAVE any money in the budget. So how does that help the economy?

    We're either burying ourselves more in debt to probably China, or we're inflating the supply another Billion or so...They expect the dollar's value to INCREASE????

    Who's the fucking moron(s) that's allowing this all to happen? Makes you wonder why the Dem's were so quick to approve it.

    This is ridiculous. Keep your god damn fake money, and quit spending so much! Those Bush tax cuts would have worked GREAT, if they'd have stopped all the runaway spending ALONG with it. He proposes the cuts, and then he offers No Child Left Behind, and 2 new wars. And no one in congress GAVE A FUCK!

    This economy is going nowhere but down. 2 Trillion dollars a year on Defense and Entitlements, and we only bring in 1 Triliion in taxes.

    And they want to just get money they don't even have, and give it to the least responsible spenders on the planet...the AMERICAN CITIZENS.

    And some of you wonder why I like Ron Paul's message...:rolleyes:
     
  3. bush lover
    Offline

    bush lover Member

    Joined:
    Feb 18, 2005
    Messages:
    266
    Thanks Received:
    30
    Trophy Points:
    16
    Ratings:
    +30
    The haters of our President and our Country and our Troops will of course dismiss our President's brilliant tax rebate plan. Even if we have to pay back the rebates with next year's taxes, our President is putting our tax money back in our pockets, where it belongs. I am going to buy a bigger plasma TV with mine, but I think I'll get the model made in Korea this time because the one we got that was made in China has kind of faded in the color. I will do my duty to help our economy. If you want to put yours in the bank, I think you are a Bush-hater.
     
  4. eots
    Offline

    eots no fly list

    Joined:
    Jan 6, 2007
    Messages:
    28,995
    Thanks Received:
    2,034
    Trophy Points:
    205
    Location:
    IN TH HEARTS AND MINDS OF FREE MEN
    Ratings:
    +2,606
    I Already Have Two Plasma Tvs So I'm Going To Just Donate Mine Directly To Chinas Nuclear Defense Program And Cut Out The Middle Man
     
  5. Shattered
    Online

    Shattered Guest

    Ratings:
    +0
    Mine's going in the bank, and I'm not exactly a Bush "hater". Just financially responsible.
     
  6. Diuretic
    Offline

    Diuretic Permanently confused

    Joined:
    Apr 26, 2006
    Messages:
    12,653
    Thanks Received:
    1,397
    Trophy Points:
    48
    Location:
    South Australia est 1836
    Ratings:
    +1,397
    Banking the money is exactly what the rulers of the economy don't want but it makes sense to me. If it were happening in our economy here I'd bank it too.
     
  7. rayboyusmc
    Offline

    rayboyusmc Senior Member

    Joined:
    Jan 2, 2008
    Messages:
    4,015
    Thanks Received:
    338
    Trophy Points:
    48
    Location:
    Florida
    Ratings:
    +338
    I bet that most of those who get their money won't remember that they will have to pay it back in the next tax cycle just like last time.:redface:

    Unless you have a really good tax lawyer and a lot of money.:razz:
     
  8. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,623
    Thanks Received:
    4,860
    Trophy Points:
    1,130
    Ratings:
    +15,535
    Yeah, the only problem is, instead of it going into reducing the budget deficit that is being more than DOUBLED this year because of this "stimulus package", it will only be used for more WAR. More borrowing, more printing, more spending.

    I say buy gold with this money. But that's just my opinion. Those dollars ain't going to be worth much pretty soon.
     
    • Thank You! Thank You! x 1

Share This Page