Comments on: Over-stimulated? http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/ What is seen and what is unseen. Mon, 23 Jan 2012 16:26:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: problems with stimulus checks new orleans http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-12332 problems with stimulus checks new orleans Tue, 01 Jul 2008 23:48:11 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-12332 [...] checks ... But all of those problems could be avoided by issuing debit cards with an expiration ...http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/WLOX-TV and WLOX.com - Building South Mississippi Together Stimulus ...WLOX TV 13 - The Station for [...] [...] checks … But all of those problems could be avoided by issuing debit cards with an expiration …http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/WLOX-TV and WLOX.com – Building South Mississippi Together Stimulus …WLOX TV 13 – The Station for [...]

]]> By: Leah Bland http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-11005 Leah Bland Tue, 15 Apr 2008 17:52:10 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-11005 I think the tax checks are a good idea. There is always the possibilty for the worst case scenario to happen, like someone saving the money, but eventually the money will be spent. I think most people are excited about the check because it has the potential to help many families out with items they have been putting off buying items because of money shortages. I know personally my parents are exstatic about the checks. My mom has plans on spending it before it has even come in. Although there is always a worst case scenario, people need to look on the optimistic side of things as well and compare the two instead of always being so pessimistic. I think the tax checks are a good idea. There is always the possibilty for the worst case scenario to happen, like someone saving the money, but eventually the money will be spent. I think most people are excited about the check because it has the potential to help many families out with items they have been putting off buying items because of money shortages. I know personally my parents are exstatic about the checks. My mom has plans on spending it before it has even come in. Although there is always a worst case scenario, people need to look on the optimistic side of things as well and compare the two instead of always being so pessimistic.

]]> By: m martin http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10817 m martin Thu, 03 Apr 2008 21:48:17 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10817 I think that this dolling of cash will contribute to the weakening of the economy. The feds last attempt to boost our sagging economy was with a printing of billions of dollars and allowing banks to grip this newly printed booty at a interest rate that was below 3 percent. I am no economic genius, but if an economy is suffering as ours is and the value of the dollar plummeting around the world (euro vs. $). Then, flooding more essentially free cash into an already deflated pool of dollars seems it would weaken the existing pool. Basic supply and demand, Abundance causes devaluation. And briefly on this topic, what is the main buzz of the economic woes at hand, MORTGAGES. Poor souls Being forced to pay ARMS over the original loan rate, to a lesser valued land appraisal. Stop these people from forcing a issue that is not as big as it is made out to be. My car was 41000.00 now 25000? The decision was mine and I am not going to turn it over to the bank because I am upside down. Who is forcing these appraisals and issuing all the second and third mortgages? Houses are not investments, you live in it to keep the rain off your graying hair and if your purpose is other than that you are not a typical home owner. President Bush has a cowboy simple mentality, give the people money and they will spend it thus helping the economy. Given the inflation factor it will contribute to, I think It would be more beneficial to give the rebate to Europeans and allow them to purchase more American goods at our third world prices. Lastly have you noticed any drop on your VISA finance charge, or mortgage rates...No only a fast dropping CD Rate. How can the prime interest rate drop and the rest of the economy swallow these high retail interest rates. Maybe these Big companies took this free money from the Feds and absorbed it all up to shore their poor financial state. If that’s the case things are much worse than we know. I think that this dolling of cash will contribute to the weakening of the economy.
The feds last attempt to boost our sagging economy was with a printing of billions of dollars and allowing banks to grip this newly printed booty at a interest rate that was below 3 percent.

I am no economic genius, but if an economy is suffering as ours is and the value of the dollar plummeting around the world (euro vs. $). Then, flooding more essentially free cash into an already deflated pool of dollars seems it would weaken the existing pool. Basic supply and demand, Abundance causes devaluation.

And briefly on this topic, what is the main buzz of the economic woes at hand, MORTGAGES. Poor souls Being forced to pay ARMS over the original loan rate, to a lesser valued land appraisal. Stop these people from forcing a issue that is not as big as it is made out to be. My car was 41000.00 now 25000? The decision was mine and I am not going to turn it over to the bank because I am upside down. Who is forcing these appraisals and issuing all the second and third mortgages? Houses are not investments, you live in it to keep the rain off your graying hair and if your purpose is other than that you are not a typical home owner.

President Bush has a cowboy simple mentality, give the people money and they will spend it thus helping the economy. Given the inflation factor it will contribute to, I think It would be more beneficial to give the rebate to Europeans and allow them to purchase more American goods at our third world prices.

Lastly have you noticed any drop on your VISA finance charge, or mortgage rates…No only a fast dropping CD Rate. How can the prime interest rate drop
and the rest of the economy swallow these high retail interest rates. Maybe these
Big companies took this free money from the Feds and absorbed it all up to shore their poor financial state. If that’s the case things are much worse than we know.

]]> By: Steven Hidalgo http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10815 Steven Hidalgo Thu, 03 Apr 2008 20:36:55 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10815 The taxpayer cost of this stimulus package will be more than the actual $600 per person and the associated costs of issuing checks or debt cards. This stimulus plan will cost the taxpayers more money because the government may have to issue more bonds or borrow money from other countries to cover the stimulus. And whenever the government borrows or issues bonds, there are financing charges associated. And to repay these bonds or other countries, taxes will have to rise. Bottom line is that although the rebate sounds nice, it is nonetheless more government spending. The only way that the taxpayer would be better off with this rebate program is if the government would start reducing its spending before and after the tax rebate to offset all the costs (rebate money, issuing, and interest), maintain the reduced spending, and not to increase taxes. Also, what about the taxpayer that will receive an amount greater than $600 and their eventual impact on the taxpayer that is only receiving $600? My rebate check will be used to recoup the money I spent this March on 2007 federal income taxes and will pay this month on state income taxes. Although my burden of paying taxes will be offset some by the $600 and paying this much in taxes was unanticipated, I did not plan on spending an additional $600 in 2008 regardless of the source of the money (unless I win the Powerball). The taxpayer cost of this stimulus package will be more than the actual $600 per person and the associated costs of issuing checks or debt cards. This stimulus plan will cost the taxpayers more money because the government may have to issue more bonds or borrow money from other countries to cover the stimulus. And whenever the government borrows or issues bonds, there are financing charges associated. And to repay these bonds or other countries, taxes will have to rise. Bottom line is that although the rebate sounds nice, it is nonetheless more government spending. The only way that the taxpayer would be better off with this rebate program is if the government would start reducing its spending before and after the tax rebate to offset all the costs (rebate money, issuing, and interest), maintain the reduced spending, and not to increase taxes. Also, what about the taxpayer that will receive an amount greater than $600 and their eventual impact on the taxpayer that is only receiving $600? My rebate check will be used to recoup the money I spent this March on 2007 federal income taxes and will pay this month on state income taxes. Although my burden of paying taxes will be offset some by the $600 and paying this much in taxes was unanticipated, I did not plan on spending an additional $600 in 2008 regardless of the source of the money (unless I win the Powerball).

]]> By: David Dominique http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10322 David Dominique Fri, 29 Feb 2008 02:38:14 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10322 I think it's important that all of us who are going to be receiving our money this summer to thank the government for giving us the opportunity to comfortably choose Quiznos over Subway for our fresh made sub cravings. It is an election year by the way. I seem to be confused about this recession talk. According to my handy copy of "Complete Idiot's Guide to Economics" a recession is defined as two consecutive quarters of contraction in GDP. We hear all this talk from politicians and commentators about how we are in a recession; however, GDP has not experienced negative growth yet (0.6 in 4Q of 07). Granted this is low, but apparently some people have given themselves the authority to redefine what a recession is. Once again, it is an election year. Barrack Obama doesn't need an economist to tell him what a recession is. There are people struggling out there. Apparently they must have hit rock bottom in Q4 because Q3 GDP growth rate was 4.9%. The truth is people strugged in Q3, they struggled in Q4, and they will struggle no matter who is the president, no matter who controls Congress, and no matter how big of a "stimulus" package Congress passes. This package is not meant to make any sensible difference, as Dr. CT pointed out. It is an election year. That's all. I think it’s important that all of us who are going to be receiving our money this summer to thank the government for giving us the opportunity to comfortably choose Quiznos over Subway for our fresh made sub cravings. It is an election year by the way.

I seem to be confused about this recession talk. According to my handy copy of “Complete Idiot’s Guide to Economics” a recession is defined as two consecutive quarters of contraction in GDP. We hear all this talk from politicians and commentators about how we are in a recession; however, GDP has not experienced negative growth yet (0.6 in 4Q of 07). Granted this is low, but apparently some people have given themselves the authority to redefine what a recession is. Once again, it is an election year.

Barrack Obama doesn’t need an economist to tell him what a recession is. There are people struggling out there. Apparently they must have hit rock bottom in Q4 because Q3 GDP growth rate was 4.9%. The truth is people strugged in Q3, they struggled in Q4, and they will struggle no matter who is the president, no matter who controls Congress, and no matter how big of a “stimulus” package Congress passes. This package is not meant to make any sensible difference, as Dr. CT pointed out. It is an election year. That’s all.

]]> By: Stuart Kelton http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10307 Stuart Kelton Thu, 28 Feb 2008 03:07:43 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10307 The part of the stimulus package that really shows the ignorance of our politicians is this: individuals who have an income of 87K and up do NOT get these returns. However, these are the same Americans that already have to pay a majority of the nation's taxes, most of these people own businesses (which obviously aid our economy), yet they are left out of the mix? Why should the rich have to pay for the poor? In reality, it is the upper class that will mainly pay back the money borrowed for the stimulus package. Many people that will receive money from the stimulus don't even pay taxes! Personally, I'm tired of the rich having to pay for the mistakes of ignorant politicians and citizens. This whole situation could have been easily avoided if ARM's would not have been given to high-risk home buyers, which in turn, led to the sub-prime mortgage collapse as well as thousands of home foreclosures. So no matter if there is a time limit on the stimulus package or not, I think it is irresponible to make wealthy Americans, that work hard for their money, pay for the mistakes of others! The part of the stimulus package that really shows the ignorance of our politicians is this: individuals who have an income of 87K and up do NOT get these returns. However, these are the same Americans that already have to pay a majority of the nation’s taxes, most of these people own businesses (which obviously aid our economy), yet they are left out of the mix? Why should the rich have to pay for the poor? In reality, it is the upper class that will mainly pay back the money borrowed for the stimulus package. Many people that will receive money from the stimulus don’t even pay taxes! Personally, I’m tired of the rich having to pay for the mistakes of ignorant politicians and citizens. This whole situation could have been easily avoided if ARM’s would not have been given to high-risk home buyers, which in turn, led to the sub-prime mortgage collapse as well as thousands of home foreclosures. So no matter if there is a time limit on the stimulus package or not, I think it is irresponible to make wealthy Americans, that work hard for their money, pay for the mistakes of others!

]]> By: Matthew Ortego http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10167 Matthew Ortego Sun, 24 Feb 2008 17:51:22 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10167 In my opinion the government has a good idea about how to stimulate our economy and gets our “supposed recession” moving. I would support the debit card issuance over the check distribution. I think that the debit cards solution would make people want to go out and spend money which is what the government wants. If people got a check, they would more likely to deposit that check and use if when they really needed the money. Since the debit card solution puts a time limit on the time allowed to spend the money or “lose it” then people are going to spend. During this time limit our economy is going to have a rapid increase in sales and this rapid increase in sales is going to generate a lot of money and with this large amount of money our economy should start to boom. Although this sounds like a flawless idea there are some draw backs. Like professor “CT” stated, some people are going to simply spend the government’s money and keep their money to spend later down the road. Another thing that could happen is some people are going to see a negative side to the time limit and are going to think that this is just another way for the government to control us. In my opinion the government has a good idea about how to stimulate our economy and gets our “supposed recession” moving. I would support the debit card issuance over the check distribution. I think that the debit cards solution would make people want to go out and spend money which is what the government wants. If people got a check, they would more likely to deposit that check and use if when they really needed the money.
Since the debit card solution puts a time limit on the time allowed to spend the money or “lose it” then people are going to spend. During this time limit our economy is going to have a rapid increase in sales and this rapid increase in sales is going to generate a lot of money and with this large amount of money our economy should start to boom.
Although this sounds like a flawless idea there are some draw backs. Like professor “CT” stated, some people are going to simply spend the government’s money and keep their money to spend later down the road. Another thing that could happen is some people are going to see a negative side to the time limit and are going to think that this is just another way for the government to control us.

]]> By: Britton Comeaux http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10072 Britton Comeaux Wed, 20 Feb 2008 06:24:59 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10072 I believe Economic stimulus proposals tend to focus on the short-term. Since much of that money will end up buying imported goods, its economic benefit here in the US will be diluted. There may be a role for stimulus, but it should be thought of as short-term relief more than an economic fix.The way to help the economy over the long term and recreate lost jobs is to reduce the cost of doing business, especially the cost of employing workers in the US. That is why I favor cutting employer-paid payroll taxes. Also, i think we need to reduce businesses' health-care costs. Its not a def. but in the long run it can really help. I believe Economic stimulus proposals tend to focus on the short-term. Since much of that money will end up buying imported goods, its economic benefit here in the US will be diluted. There may be a role for stimulus, but it should be thought of as short-term relief more than an economic fix.The way to help the economy over the long term and recreate lost jobs is to reduce the cost of doing business, especially the cost of employing workers in the US. That is why I favor cutting employer-paid payroll taxes. Also, i think we need to reduce businesses’ health-care costs. Its not a def. but in the long run it can really help.

]]> By: Robert T. Rock http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/comment-page-1/#comment-10056 Robert T. Rock Tue, 19 Feb 2008 05:09:06 +0000 http://www.nicholls.edu/bastiatsbastions/2008/02/17/im-over-stimulated/#comment-10056 I think it is a good idea that the government is giving out money to people, I’m sure this will help out many people at the time. The government is hoping the majority of people in the United States are impulse buyers. However, I’m pretty sure the government will come back for it in the future by raising taxes on a state level and/or federal level. I totally agree with saving the $600 when I receive it because eventually I will just have to give it back in some way, shape or form. I think it is a good idea that the government is giving out money to people, I’m sure this will help out many people at the time.
The government is hoping the majority of people in the United States are impulse buyers. However, I’m pretty sure the government will come back for it in the future by raising taxes on a state level and/or federal level. I totally agree with saving the $600 when I receive it because eventually I will just have to give it back in some way, shape or form.

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