Govt nearing agreement on stimulus plan

Govt nearing agreement on stimulus plan

This is a discussion on Govt nearing agreement on stimulus plan within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Taxpayers would get checks under economic stimulus plan - CNN.com WASHINGTON (CNN) -- American taxpayers would get checks of several hundred dollars from the federal ...

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Thread: Govt nearing agreement on stimulus plan

  1. #1
    Distinguished Member Array morintp's Avatar
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    Govt nearing agreement on stimulus plan

    Taxpayers would get checks under economic stimulus plan - CNN.com

    WASHINGTON (CNN) -- American taxpayers would get checks of several hundred dollars from the federal government under a plan to stimulate the economy announced by congressional and administration officials Thursday.


    "Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around."

    "I'm looking for quick action in the House. I hope that the Senate will follow quickly so that we can put this money in the hands of middle-income Americans as soon as possible," said Rep. John Boehner, R-Ohio, the House minority leader.

    Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.

    People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple.

    A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.

    Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal.

    Checks could be in 117 million taxpayer mailboxes by June, according to an Associated Press report.

    The agreement includes a robust package of business incentives and help for homeowners facing possible mortgage foreclosures.

    The Treasury Department still must analyze the numbers to determine the price tag of the stimulus package, sources said.

    To get to the agreement, Democrats dropped calls for increases in food stamps and an extension of unemployment compensation. Republicans agreed to allow people who pay Social Security taxes but not income taxes to get the checks, sources said.

    An announcement on the plan could come Thursday afternoon, the two sources said.

    Aides in both parties said Treasury Secretary Henry Paulson has been working aggressively in recent days as he tries to make progress before House Republicans head out of Washington for a legislative retreat at the end of the week.

    The stimulus package may face resistance from fiscal conservatives in both parties over worries that it would increase the federal debt. The talks are occurring as auditors report that the federal deficit -- the difference between what the government takes in and what it spends -- is increasing.

    The nonpartisan Congressional Budget Office estimated Wednesday the deficit would jump to $250 billion, mainly because of a weakening economy. That estimate does not include any additional spending that would be part of a stimulus package.

    The proposal is intended to address economic worries stemming from a worldwide credit crunch created by the mortgage crisis and plunging stock markets. The president proposed the package last week.

    Officials in both parties credited Paulson, the former Goldman Sachs executive known for a shrewd grasp of the markets, with pushing the package aggressively.

    "He's been on the phone with practically every member of Congress -- some of them a few times," one Senate Republican aide said. "He's not fooling around."
    Who else is going to spend theirs on a new gun?


  2. #2
    Senior Member Array allenruger's Avatar
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    Sounds like the thing to do to me. This is one of those times that I wish I had kids... would pay for the 1911 I want completely. ha!
    Allen

    -"I may get killed with my own gun, but he's gonna have to beat me to death with it, 'cause it's going to be empty." -Clint Smith

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    Member Array 500Mag's Avatar
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    While there are a few guns on my short list to buy I will not be using this money for that purpose.

    The Reason:
    I totally despise the gov't just giving money away. So in my best defiance efforts I will put it into savings and not back into the economy as they wish. And no I'm not giving it away or back, that'd be plain stupid.
    "A well regulated Militia, being necessary to the security of a free State, the right of the PEOPLE to keep and bear Arms, shall not be infringed."

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    VIP Member Array BigEFan's Avatar
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    I'll do my part to stimulate the economy. Anyone have the number for Springfield Armory's custom shop?
    Lex et Libertas Semper Vigilo, Fortis, Paratus, et Fidelis!

    "Not only do the people who put their lives on the line to protect the rest of us deserve better, we all deserve better than to have our own security undermined by those who undermine law enforcement." -Thomas Sowell

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    VIP Member Array farronwolf's Avatar
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    And they just keep digging the hole deeper.

    As if 9.2 Trillion dollars isn't enough debt to pay back they want to make it bigger. How about spending less money for a change.
    Just remember that shot placement is much more important with what you carry than how big a bang you get with each trigger pull.
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    VIP Member Array packinnova's Avatar
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    Quote Originally Posted by 500Mag View Post
    While there are a few guns on my short list to buy I will not be using this money for that purpose.

    The Reason:
    I totally despise the gov't just giving money away. So in my best defiance efforts I will put it into savings and not back into the economy as they wish. And no I'm not giving it away or back, that'd be plain stupid.
    They're not giving that money away. They're giving back SOME of what they stole. The stuff they GIVE away is all that foreign "AID" BS and the Welfare BS.
    "My God David, We're a Civilized society."

    "Sure, As long as the machines are workin' and you can call 911. But you take those things away, you throw people in the dark, and you scare the crap out of them; no more rules...You'll see how primitive they can get."
    -The Mist (2007)

  7. #7
    VIP Member Array packinnova's Avatar
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    Quote Originally Posted by farronwolf View Post
    And they just keep digging the hole deeper.

    As if 9.2 Trillion dollars isn't enough debt to pay back they want to make it bigger. How about spending less money for a change.
    How about letting us keep what we earned and not spending ANY!
    "My God David, We're a Civilized society."

    "Sure, As long as the machines are workin' and you can call 911. But you take those things away, you throw people in the dark, and you scare the crap out of them; no more rules...You'll see how primitive they can get."
    -The Mist (2007)

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    VIP Member Array aus71383's Avatar
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    The way I understand it, this money is not free at all. Next year when you file your taxes, you will have to put down that you received this money from the government, and you will get that much less money on your tax return next year. That's how it was explained to me by the head Admin guy at my shop. I figured he knew - I sure don't. But I don't trust the Federal Government to give me anything for free....If I had a gift horse, I would look it in the mouth - chances are good it has Ebola or Tuberculosis or something like that.

    If this is the case, it is almost like they are giving money away though - because if you have it, they aren't earning interest on it like they usually do. I know one thing for sure - I'm about to get $5,000 back on my return, and if I had that $5,000 all year long it would be worth a lot more. Somebody made money with my money....and it wasn't me. So I guess I did pay taxes this year, in a way. I loaned my money to the .gov so they could earn interest on it.

    Just my $0.02

    Austin

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    Mine is going to pay down my mortgage
    A real man loves his wife, and places his family as the most important thing in life. Nothing has brought me more peace and content in life than simply being a good husband and father.

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    Member Array PcMakr's Avatar
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    It's not a tax rebate anyway. If they do it as they have stated, it is an income redistribution program. If they want to truly make it a rebate, then they need to give back an equal percentage of whatever each taxpayer paid to the IRS in taxes. If you didn't pay any taxes, then you get no rebate, and why should you?

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    VIP Member Array raevan's Avatar
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    Instead of dolling out all this money, why don't they pay back what they owe to social security so more people will be able to recieve it when they retire.
    But if they give me 300, it will be well used for something I need but can't afford at the time.

  12. #12
    Restricted Member Array SelfDefense's Avatar
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    Quote Originally Posted by PcMakr View Post
    It's not a tax rebate anyway. If they do it as they have stated, it is an income redistribution program. If they want to truly make it a rebate, then they need to give back an equal percentage of whatever each taxpayer paid to the IRS in taxes. If you didn't pay any taxes, then you get no rebate, and why should you?
    This is exactly correct, which is why the democrats have agreed to the plan. If they want to stimulate the economy they should Cut Spending. We had the chance for the first six years of the Bush Administration. We did not get it done.

    Want to really stimulate the economy with tax policy?

    FairTax.

  13. #13
    Senior Member Array dunndw's Avatar
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    Doesn't mean squat to me. Being a sole proprietor I won't get $%&# back. The government always talks about small business owners being the backbone of the economy...we're more like the soles of the feet.
    "If I was an extremist, our founding fathers would all be extremists," he said. "Without them, we wouldn't have our independence. We'd be a disarmed British system of feudal subjectivity."

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    Distinguished Member Array Stetson's Avatar
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    I agree if you pay no taxes you don't get a rebate.Why should you participate
    in a program when you put nothing in it? Oh I forgot only in America!In span of
    60 years our great country gone from a lending country to a debtor country
    in a flash.How many generations is this going to take us to get out of this mess!

  15. #15
    VIP Member Array Cupcake's Avatar
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    And I thought George only did this last time to buy my vote. It worked. If I keep getting a check every 4 years I'll keep writing him in, however many terms he's served. I either see an AR10 in my future or a bit less credit card debt. Hmm.....
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