I'd prefer let's pay down the debt a half trillion, however a tax rebate from found savings - paid to actual tax PAYERS would not be the same thing as a stimmie to everybody.
That’s not what’s being proposed. And it wouldn’t fly if it was, most people don’t even pay that much in federal income tax. Too much addiction to giving money away.
That’s true but they aren’t going to noodle out who really paid and who didn’t. They will just send out the same check to everyone who file income tax even if they already got what little they paid plus the child tax credits that puts them over what they actually paid by thousands back. So I’d rather they it put towards the debt than see Walmart’s 2nd quarterly profit bumped by frivolous spending.
Exactly right. After all debt and deficit spending is gone, rebates in the form of lower taxes. No more “stimulus or other crap like a refund for people who didn’t pay anything in federal income taxes. Great essay, too short!
One thing I didn't get into is the redistributive nature of such checks. Why should someone who pays a couple thousand a year in federal income tax get the same check as someone who pays a couple million?
That is absolutely the first thought I had when he first mentioned sending out checks. "wait, what??" I thought checking inflation and getting the economy off life support was the actual thing? Somebody please repost the Tea Party's debt clock!
Whatever. I’ll believe it when I see it. …Meanwhile, here in Oregon, our governor has made clear in a sit-down interview with local, national-network-affiliate tv, that the existential climate crisis is her number one concern for our Sanctuary State.
I often wonder if these enviro-loons actually think that their local changes will matter in the face of China building coal plants at record pace, or if they are simply pandering to the enviro-loon voters.
In Oregon, if you are against the CO2 hoax, you are also evil, racist, sexist, bigoted, genocidal, republican, christian, white, pro-creation, pro-family, pro-capitalist, pro-separation-of-powers, anti-immigration, pro-fascist, etcetera. But, your vote counts.
I think most people who have a sense of budgeting know this isn’t the best of ideas. If I had 30k in credit card debt (I don’t) and I cut some spending from my budget it would go towards paying off cc debt. I would rather they use all of it towards the debt. My jaw dropped when they said only 20%. 20% to the people, 20% to the debt and were the hells the other 60% going? Yeah not fond of this move. I don’t run a huge deficit in my home and it would be nice if my government didn’t.
My husband and I are both hoping that this was something Elon shouted out like when he does a poll on X and Susie Wyles is going to get some people to talk sense into him. Our first thoughts were, this is only going to worsen inflation. I’d rather it go to the debt. Not go towards a PR campaign.
I agree, in theory. But then, as a result of Bidenomics, I have more than one neighbor who had to resort to credit cards to [temporarily] keep their heads above water. Getting a little of their $$ back could help them tread water...
There are always individual instances such as the one you mention. But the harm that those checks will do in the aggregate is not theoretical. Inflation is a monster.
I'd prefer let's pay down the debt a half trillion, however a tax rebate from found savings - paid to actual tax PAYERS would not be the same thing as a stimmie to everybody.
That’s not what’s being proposed. And it wouldn’t fly if it was, most people don’t even pay that much in federal income tax. Too much addiction to giving money away.
That’s true but they aren’t going to noodle out who really paid and who didn’t. They will just send out the same check to everyone who file income tax even if they already got what little they paid plus the child tax credits that puts them over what they actually paid by thousands back. So I’d rather they it put towards the debt than see Walmart’s 2nd quarterly profit bumped by frivolous spending.
Too bad you need to teach ECON 101 to Trump 😢
Exactly right. After all debt and deficit spending is gone, rebates in the form of lower taxes. No more “stimulus or other crap like a refund for people who didn’t pay anything in federal income taxes. Great essay, too short!
Sometimes the point can be made quickly.
One thing I didn't get into is the redistributive nature of such checks. Why should someone who pays a couple thousand a year in federal income tax get the same check as someone who pays a couple million?
They shouldn’t!
That is absolutely the first thought I had when he first mentioned sending out checks. "wait, what??" I thought checking inflation and getting the economy off life support was the actual thing? Somebody please repost the Tea Party's debt clock!
Whatever. I’ll believe it when I see it. …Meanwhile, here in Oregon, our governor has made clear in a sit-down interview with local, national-network-affiliate tv, that the existential climate crisis is her number one concern for our Sanctuary State.
I often wonder if these enviro-loons actually think that their local changes will matter in the face of China building coal plants at record pace, or if they are simply pandering to the enviro-loon voters.
At least it would make sense if they were pandering to the enviro-loons.
In Oregon, if you are against the CO2 hoax, you are also evil, racist, sexist, bigoted, genocidal, republican, christian, white, pro-creation, pro-family, pro-capitalist, pro-separation-of-powers, anti-immigration, pro-fascist, etcetera. But, your vote counts.
Pandering….
I think most people who have a sense of budgeting know this isn’t the best of ideas. If I had 30k in credit card debt (I don’t) and I cut some spending from my budget it would go towards paying off cc debt. I would rather they use all of it towards the debt. My jaw dropped when they said only 20%. 20% to the people, 20% to the debt and were the hells the other 60% going? Yeah not fond of this move. I don’t run a huge deficit in my home and it would be nice if my government didn’t.
My husband and I are both hoping that this was something Elon shouted out like when he does a poll on X and Susie Wyles is going to get some people to talk sense into him. Our first thoughts were, this is only going to worsen inflation. I’d rather it go to the debt. Not go towards a PR campaign.
I agree, in theory. But then, as a result of Bidenomics, I have more than one neighbor who had to resort to credit cards to [temporarily] keep their heads above water. Getting a little of their $$ back could help them tread water...
There are always individual instances such as the one you mention. But the harm that those checks will do in the aggregate is not theoretical. Inflation is a monster.