Regarding the "tax stimulus" refund.... - Page 3

Dennis Nicholls · 05-29-2008, 10:45 AM

Quote:

Groceries and gas aren't consumer goods?

Both are excluded from the "consumer price index" (CPI), the government's statistic for inflation, so I guess from the government's view they aren't "consumer goods". What was that about lies, damned lies, and statistics?

My check arrived this Tuesday, the same day my washing machine burned up. So I guess i did get to spend it on "durable goods".

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MarkMel · 05-29-2008, 11:09 AM

Your check is spent even before you get it.

You've already spent your tax windfall on gas and bread. - By Daniel Gross - Slate Magazine

Chris Lockwood · 05-29-2008, 12:24 PM

The joke's on him- I don't buy bread!

That Slate piece is built on bad logic (no surprise)- even if someone's check is entirely spent on higher gas prices, they still have more to spend than if they didn't get the check.

Whether the whole program makes sense is a separate issue.

If the guy from Slate doesn't want his check, I'll take it. What is his real point? The fact that gas has gone up a lot in price since the stimulus package was announced has nothing to do with the stimulus deal!

It's like saying that if your boss gives you a raise, it's not really a raise since prices are higher... but you're still better off than if you didn't get the raise.

Interesting to know that some stores are giving bonuses on the checks, really the only useful tidbit in that article.

MarkMel · 05-29-2008, 02:25 PM

I think this might be another worthwhile point;

Quote:

"We've never had a fiscal stimulus through a credit crunch and a real estate deflation before."

I take this to mean the intended effect of the stimulus will not be realized because most will be using it to keep their heads above water.

So it's not really a stimulus, it's more of a temporary stop-loss.

Bob McLaughlin · 05-29-2008, 02:58 PM

Yeah, that article reminds me of those killjoy weathermen on the news. If there has been a drought and it finally rains one day, they are quick to point out that it's not enough rain to help. Gee, I guess we should all just go kill ourselves then.

Marvin · 05-30-2008, 12:18 PM

Quote:

Originally Posted by Chris Lockwood

If the guy from Slate doesn't want his check, I'll take it. What is his real point? The fact that gas has gone up a lot in price since the stimulus package was announced has nothing to do with the stimulus deal!

He needs to pay for gas just as much as we do, I suppose.

If most people will be spending their "stimulus" check on gas, then the net effect would be the same as if the government had sent everyone's checks directly to the oil companies in return for their agreeing not to raise gas prices.

mylan · 06-13-2008, 01:24 PM

Well, my wife and I are still waiting for ours. We thought since we did direct deposit and my last two digits we would see it May, 16.
I do have a theory, we had to pay about $100 and it was directly drafted out of our acct. on the 12th, it may have not been processed by the 15th i've read, also we did not use Turbo Tax so that would'nt be an issue. At this point, it could be July 11th.



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