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sph · Jan 20, 2008, 03:27 PM

If all goes well with Bush's economic stimulus package most of us will be enjoying am extra $1600 in our pockets in the next few weeks (at least for us married folks) which just happens to be very close to the full price of the new Macbook Air ($1799)

I guess the sensible decision would be to pay down some other debt, or invest it wisely. But then Mr. Jobs comes along and announces another new toy...which of course, I must have.

How will you spend yours?

MacosNerd · Jan 20, 2008, 03:36 PM

As they say around here, don't count your chickens before they're hatched. Nothing has been set or written in stone. I don't believe congress has done anything in terms of approving the stimulus package.

Cold Warrior · Jan 20, 2008, 03:40 PM

Personally I plan to take some stock profits this year, as I'm in the bracket that won't have to pay capital gains if taken in 2008.

And if I did get that extra money, it'd get invested or used to pay my outrageous property taxes.

The Godfather · Jan 20, 2008, 06:23 PM

I don't think that Apple was aiming for the under $160k crowd* as the market for the MBA. I guess this was Steve's first homer.

*the cutoff yearly income for this government aid

spiff72 · Jan 20, 2008, 08:08 PM

I am probably wrong here, but weren't they talking about Spring for the checks (if they do happen at all)? I think "the next few weeks" might be a bit optimistic...

sph · Jan 20, 2008, 09:30 PM

Next few weeks is for the actual approval. Once they approve it (if they do), it apparently takes them 10 weeks to cut the checks. I also just found out that there are salary limits to make you eligible. $85k for an individual and $110k for a couple. So some of us are out of luck.

sph · Jan 20, 2008, 09:31 PM

Ive heard both $110k and $160k as the cutoff. I wonder which one is accurate...

MacosNerd · Jan 20, 2008, 09:47 PM

Neither, congress has not voted on it, I don't even think Bush has submitted the bill yet.

prominence · Jan 21, 2008, 12:03 AM

I heard $110k on CBS Evening News on Friday. I would say that is the correct cut-off.

driven · Jan 21, 2008, 01:14 AM

Originally Posted by prominence

I heard $110k on CBS Evening News on Friday. I would say that is the correct cut-off.

That would suck.
(At least I'd be excluded.) :-(

shinykaro · Jan 21, 2008, 03:09 PM

Dang, if I were making $110k per year, I don't think I'd miss the $800.

Now gimme!

giggs11 · Jan 21, 2008, 04:28 PM

Bart: Dad, I'm really sorry, but I charged $350 on your credit card.
Homer: What?!
Bart: Don't worry, here's the cash!
Homer: Woo-hoo! $350. Now I can buy seventy transcripts of Nightline!

mavherzog · Jan 21, 2008, 06:56 PM

Originally Posted by shinykaro

Dang, if I were making $110k per year, I don't think I'd miss the $800.

$800 is still $800. Believe me, $110k a year does not a fat cat make (espcially with kids, a mortgage, college funds, retirement, etc, etc, etc)

spiff72 · Jan 21, 2008, 08:44 PM

$110k??

Anyone have a link to support this? And I wonder if this gross income, or adjusted gross?

driven · Jan 22, 2008, 02:00 AM

Originally Posted by mavherzog

$800 is still $800. Believe me, $110k a year does not a fat cat make (espcially with kids, a mortgage, college funds, retirement, etc, etc, etc)

I'm glad someone else said it.

.:ren:. · Jan 22, 2008, 06:21 AM

seeing as i don't live in America i can't really do this, but if i was you i would
get together with all the other married couples then use the money to plot against George Bush
or to make a time machine to reach the point where he finishes his term.

driven · Jan 22, 2008, 10:25 AM

Originally Posted by .:ren:.

seeing as i don't live in America i can't really do this, but if i was you i would
get together with all the other married couples then use the money to plot against George Bush
or to make a time machine to reach the point where he finishes his term.

Clearly this has no place in this thread.

shinykaro · Jan 22, 2008, 12:11 PM

Originally Posted by driven

Clearly this has no place in this thread.

Haha, maybe not, but it's damn funny. Stewie Griffin, is that you?

romeosc · Jan 22, 2008, 03:10 PM

Great idea for Apple

"We will give you a Macbook Air for a discount if you send us your rebate check!"

iREZ · Jan 22, 2008, 03:48 PM

Originally Posted by driven

Clearly this has no place in this thread.

Neither is the title of the thread but you didnt complain about that now did you.

shinykaro · 05:23 PM

Originally Posted by mavherzog

$800 is still $800. Believe me, $110k a year does not a fat cat make (espcially with kids, a mortgage, college funds, retirement, etc, etc, etc)

I understand. Just saying, as a single person making less than one third of that, it seems like a huge difference. Then again, I'm only supporting a beagle.

On another note that also likely doesn't belong in this forum... how sad is it that a six figure income isn't actually indicative of much buying power?

The economy is making me sad.

driven · Jan 22, 2008, 08:24 PM

Originally Posted by iREZ

Neither is the title of the thread but you didnt complain about that now did you.

The title was fine.

alligator · Jan 22, 2008, 10:53 PM

The IRS just announced that with tax season ahead, they couldn't possibly send anything until May or later, even if approved. Hope you can wait.

MacosNerd · Jan 22, 2008, 11:32 PM

Originally Posted by alligator

The IRS just announced that with tax season ahead, they couldn't possibly send anything until May or later, even if approved. Hope you can wait.

While I'm not one to look a gift horse in the mouth, has it even been proven that these rebate checks will actually help the economy?

PhotoBug · Jan 23, 2008, 04:07 AM

Originally Posted by mavherzog

$800 is still $800. Believe me, $110k a year does not a fat cat make (espcially with kids, a mortgage, college funds, retirement, etc, etc, etc)

unless your spend on every knicknack you fancy 110k is PLENTY for kids, a mortgage, college funds, retirement, etc, etc, etc. try that on 60k and see how you fair. I don't know how you seem to think 110k isn't all that great.

Pierre B. · Jan 23, 2008, 06:33 AM

Originally Posted by PhotoBug

unless your spend on every knicknack you fancy 110k is PLENTY for kids, a mortgage, college funds, retirement, etc, etc, etc. try that on 60k and see how you fair. I don't know how you seem to think 110k isn't all that great.

Your answer made me realise that I understood well the initial issue, because the numbers made me think that we talk about something else. But no, we talk about incomes more than 100k per year or even more than 160k

... and still some people complain. Well, I cannot tell if they are right or not to complain, but I cannot help it either to think about the consumerism effect. And yes, I have family, the total income is well below 100k, I live in an expensive country with 21% VAT on everything, but still not complaining. But to each one his own.

MacosNerd · Jan 23, 2008, 08:24 AM

Originally Posted by PhotoBug

unless your spend on every knicknack you fancy 110k is PLENTY for kids, a mortgage, college funds, retirement, etc, etc, etc. try that on 60k and see how you fair. I don't know how you seem to think 110k isn't all that great.

Well while 100k is a lot of money, you'd be surprised at how expensive life can be with kids and a mortgage. I'm sorry but making 110k doesn't mean you can live high off the hog, and can for go the 800 rebate check.

While I don't make that much money, I do make a decent salary. I live in the northeast, one of the most expensive areas to live in the country (aside from SF, LA, etc). Add in two car payments, a mortgage. expenses for the children, food, etc. That money disappears pretty quickly.

driven · Jan 23, 2008, 11:17 AM

Originally Posted by MacosNerd

While I'm not one to look a gift horse in the mouth, has it even been proven that these rebate checks will actually help the economy?

2/3 of the last set of checks that went out re-entered the economy within 2 quarters of being sent out.

Anytime people get to keep more of their own money it helps the economy.

driven · Jan 23, 2008, 11:20 AM

Originally Posted by MacosNerd

Well while 100k is a lot of money, you'd be surprised at how expensive life can be with kids and a mortgage. I'm sorry but making 110k doesn't mean you can live high off the hog, and can for go the 800 rebate check.

While I don't make that much money, I do make a decent salary. I live in the northeast, one of the most expensive areas to live in the country (aside from SF, LA, etc). Add in two car payments, a mortgage. expenses for the children, food, etc. That money disappears pretty quickly.

Also keep in mind that with that higher salary comes higher taxes, higher benefit costs (at least in my case ... I pay $750 per paycheck just for healthcare.) Also: Higher job-related expenses, and payments for the student loan that helped me get that higher salary job to begin with.

Kids baseball alone is $1000 per year. (2 kids including uniforms, fees, etc. expenses.)

Oh well ... you get the idea. Not complaining at all. I'm glad I can afford what I do ... but I'm not exactly flush with cash either.

MacosNerd · Jan 23, 2008, 11:34 AM

Originally Posted by driven

2/3 of the last set of checks that went out re-entered the economy within 2 quarters of being sent out.

Anytime people get to keep more of their own money it helps the economy.

But is that the best use of the money, are there other tactics that would be more beneficial. So far I've not seen any hard facts to say cutting checks is a good thing. Like I said, I'm not about to look a gift horse in the mouth but the same token, I'd gladly forgo the check in place of using the money on programs or tactics that would help the turnaround faster and be more robust.

I'm not saying its a bad move, I've just not seen any studies or evidence to show that its the best move. Its the most popular since it puts money in our pockets to be sure but popular and prudent actions don't always go hand in hand.

driven · Jan 23, 2008, 11:40 AM

Originally Posted by MacosNerd

But is that the best use of the money, are there other tactics that would be more beneficial. So far I've not seen any hard facts to say cutting checks is a good thing. Like I said, I'm not about to look a gift horse in the mouth but the same token, I'd gladly forgo the check in place of using the money on programs or tactics that would help the turnaround faster and be more robust.

I'm not saying its a bad move, I've just not seen any studies or evidence to show that its the best move. Its the most popular since it puts money in our pockets to be sure but popular and prudent actions don't always go hand in hand.

If the economy shrinks that's bad for everyone, even entitlements and social programs. If business isn't selling their goods & services then they aren't making money. If they aren't making money then the cut staff. If they aren't making money then they aren't paying as much in income tax. (Or worse, they claim a capital loss). If people are unemployed then they are not paying income tax. If they are unemployed then the aren't making their car payments or their house payments.

If the government doesn't get it's tax revenue then they have to cut non-essential services (typically social programs or education.)

So ... if a check and interest rate cut can prevent the economy from collapsing (and I haven't seen any evidence that it WON'T work, or at least be a helpful part to minimize the damage) then I'm all for it. Sometimes spending money is the best way to make it. Think of it this way: The US Government is investing in it's citizens to help fix the problem.

I think the talking heads said if this is implemented by June then we should be ok.

moki · Jan 23, 2008, 11:55 AM

Originally Posted by mavherzog

$800 is still $800. Believe me, $110k a year does not a fat cat make (espcially with kids, a mortgage, college funds, retirement, etc, etc, etc)

I certainly agree with you -- but it also depends on where in the country you're making that $110K a year. In upstate NY (and many other areas of the country), you're actually doing quite well. In New York City or the SF Bay Area, you might as well be a street urchin.

MacosNerd · Jan 23, 2008, 02:19 PM

Well the latest I've heard about this stimulus package is that president wants this voted on my the end of February. add in the fact it will probably take even longer and being tax time for us and the IRS probably means sometime this summer before checks start rolling out

romeosc · Jan 23, 2008, 02:33 PM

The problem is they will give it to the illegal aliens too!

Why not say "Poof no sales tax for 2 months" ....... leave it up to states to worry about the rebates later!

LOL

driven · Jan 23, 2008, 02:56 PM

Originally Posted by romeosc

The problem is they will give it to the illegal aliens too!

Why not say "Poof no sales tax for 2 months" ....... leave it up to states to worry about the rebates later!

LOL

On the first point, I doubt it since illegal aliens probably didn't file a tax return, and thus they won't be in the database to send a check to.

Second: Poof: There is no federal sales tax, so the federal government is in no position to "poof" it away. Worse: The Federal Government isn't authorized to change the revenue collection of the individual states. "Sorry Governor's, you aren't getting your tax collections, but look at the bright side: You saved the Federal Treasury 1.4 Billion."

olePigeon · Jan 23, 2008, 06:26 PM

My brother makes over $100k a year, but he's almost always broke. His wife is going to school full-time at the moment, and he's supporting two kids, plus $2300/month on rent, plus college loans, credit cards, and other stuff.