Complaining the $13 per paycheck isn't enough?

[Mom2Evie]

So, how many of you now complaining about the $13 per week increase you’ll be getting in your paycheck supported the gas tax holiday proposal this past summer? How many of you were angry when it didn't happen because YOU NEEDED that money to spend? How many of you remember how much that would have saved the average American over the summer? According to several sources, this would have saved the average American about $30 over the summer. I didn’t find a single estimate that thought people would save me more than $50.

$13 per week per household adds up to just over $700 per year (do the math, more than $50). By spreading out the money over time, it’s practically guaranteed to be spent, pushing that money right back into our struggling economy. When I was given my stimulus check last year, I stuck it straight into my savings account. I spent some of it slowly over the next 6 months. I’m sure most of it still sits there, earning a pittance of interest for me, but doing NOTHING to stimulate the economy. Sure, I’d love for it to be MORE in my weekly check. It would have been too. If only the Republicans hadn’t insisted that this tax cut for the working class be reduced in favor of tax cuts for businesses.

You can’t have it both ways. I love how you guys flip flop on tax cuts for the American people, depending on source of the idea.

 

[wvjules]

You can’t have it both ways. I love how you guys flip flop on tax cuts for the American people, depending on source of the idea.

Irony!

 

[minnie61650]

So, how many of you now complaining about the $13 per week increase you’ll be getting in your paycheck supported the gas tax holiday proposal this past summer? How many of you were angry when it didn't happen because YOU NEEDED that money to spend? How many of you remember how much that would have saved the average American over the summer? According to several sources, this would have saved the average American about $30 over the summer. I didn’t find a single estimate that thought people would save me more than $50.

$13 per week per household adds up to just over $700 per year (do the math, more than $50). By spreading out the money over time, it’s practically guaranteed to be spent, pushing that money right back into our struggling economy. When I was given my stimulus check last year, I stuck it straight into my savings account. I spent some of it slowly over the next 6 months. I’m sure most of it still sits there, earning a pittance of interest for me, but doing NOTHING to stimulate the economy. Sure, I’d love for it to be MORE in my weekly check. It would have been too. If only the Republicans hadn’t insisted that this tax cut for the working class be reduced in favor of tax cuts for businesses.

You can’t have it both ways. I love how you guys flip flop on tax cuts for the American people, depending on source of the idea.

You made some very good points.

I agree that by spreading out the money over time, it’s practically guaranteed to be spent, pushing that money right back into our struggling economy.

A lot of people put the stim checks into savimgs because it was a large amount at once and that did notstimulate the economy the way it was planned to do.

I think that if millions of people start spending just $10-$13 a week more it will really help our retail sales and will help stimulate the economy.

Just my 2 cents.

 

[Geoff_M]

I think your post, as they say in court, "assumes facts that are not in evidence".

I didn't support any "gas tax" holiday. It's a dumb idea. If nothing else, for the fact that such programs do not require gas stations to pass any tax reduction on to customers. Stations tend to keep the final roughly the same and pocket the most or all of the difference. The first time I saw this in action was in Indiana a few years ago when they halted a $.10/gal tax. A family member of mine held off buying gas until the next day when the "holiday" started. He was shocked to see that the price of gas was the same the next day. They apparently took a $.10/gal price increase overnight!

If only the Republicans hadn’t insisted that this tax cut for the working class be reduced in favor of tax cuts for businesses.

Yep, we know how many jobs the "working class" can create as opposed to businesses, right? Why in the world would we want to give businesses any reason to hire additional workers!

I love how you guys flip flop on tax cuts for the American people, depending on source of the idea.

Would that be anything like this quote from the current First Lady?:

"You're getting $600," she told an audience of mostly African-American women here. "What can you do with that? Not to be ungrateful or anything. But maybe it pays down a bill, but it doesn't pay down every bill every month."

Oh, wait, sorry... that for Bush's stimulus program.

 

[Mom2Evie]

I think your post, as they say in court, "assumes facts that are not in evidence".

I didn't support any "gas tax" holiday. It's a dumb idea.

Then that part of my post didn't apply to you. That's why I asked how many of you DID support it.

Yep, we know how many jobs the "working class" can create as opposed to businesses, right? Why in the world would we want to give businesses any reason to hire additional workers!

Well, if 50 of us stop patronizing a local business, they'll have to lay someone off. If we slow down our spending, companies don't need as many workers. Therefore if we continue to support a business, buy their products, etc. then I guess they'll have to hire someone to serve my needs or create the goods.
I think you underestimate the power large groups of people have on the economy in favor of a company.

 

[AlexTina]

I think most people are actually outraged by the amount of debt that it is going to add to the U.S. in order to give people an extra $13. $13 isn't going to make a bit of difference for most people. The other thing is the amount of debt we're adding in order to give $250 to recipients of SS. I was talking to my grandmother yesterday and she says that in her opinion it is the most ridiculous waste of money. She and my grandfather who are both in their 80's live on SS and a small pension that my grandmother gets, they have a bit of savings in case of an emergency but basically live on their SS. We figured out their budget and after paying bills and buying groceries they generally have around $700 left over per month, they like the majority of SS recipients have their house paid for and their car paid for, so they have very few expenses other than utilities and groceries. So why give them $250?? They won't spend it, they will put it in their savings and therefore it will not stimulate the economy. Most SS recipients are older wiser people and they are nervous right now so they are not very likely to run out and spend their $250, they will sock it away for a rainy day.

 

[SplashMtnCrew]

Everyone should pay the same tax....a flat tax. That would be equality for every American. But Democrats don't want that.....why should everyone pay the same tax when we can tax successful Americans more? They only scream for equality when it benefits the party, not when it benefits ALL Americans. But alas equality will come for all Americans through the President and the Democratic Congress...we will all be equally poor.

BTW, I really find it hard to believe that $13 a week is going to improve anyone's life. You could make that babysitting for someone....oh, wait, that would never do because babysitting might actually be classified as working.

 

[Geoff_M]

Then that part of my post didn't apply to you. That's why I asked how many of you DID support it.

Well, your post then proceeds as if a significant portion of conservatives did support it. I think the traction that McCain got with the idea gives you a pretty good indication of the level of support such ideas have. I think you're largely trying to box with a ghost.

 

[Planogirl]

I've been a little surprised by those who complain about the tax cuts too. It might not make much difference to individuals but if it's spent, which is likely, it will add up and get a lot more money into the hands of businesses. I think that's the point isn't it?

 

[All American]

Geoff M quoted Michelle Obama for me. Thanks!

I feel like we're being played. That's what bugs me about the whole thing. Times are tough and people are supposed to jump for joy. Now, $13/week may help alot of people who really need it (althought on the Budget Board some people have noticed kids toys and clothing gone from the thrift store because of that new lead-save-the-children law), but knowing that $30,000,000 is going towards some mouse (see the other thread). Kill the mouse and give that money to the people. More can be done (I like money going back into my pocket in the form of a tax cut). And I have to wonder how much it will really help after the Bush tax cuts expire and taxes go up. Now, where's that $13 going?

 

[mefordis]

We make 160k per year. Do we qualify for the $13?

Thanks.

 

[happygirl]

13 dollars isn't much when they are going millions and millions in debt. I wish they would just keep it and not go into debt.

 

[HelenePA]

We make 160k per year. Do we qualify for the $13?

Thanks.

Yes you make too much.. honestly would you notice an extra 13$ a check making 160K a year? We make 45k a year and I highly doubt we'll notice the increase.. I dont want this money...

 

[Sandy321]

$13 a week would be great IF and only IF every news report didnt quote local govt state govt talking about how bad things are and our taxes are going to increase...

add to that and the whole credit card debalcle - people that have been paying their credit card debt on time for YEARS that have a great rate (under 10%) now find themselves with double interest rates - Chase is one card that did this - to increase their revenue of course - -

so once again, those that arent in forclosure, those that pay on time are still getting penalized -

I go back to that bogus email about giving every taxpayers $50,000 THAT would stimulate the economy - why give it to bank execs and ceo's for bonus' that will go to off shore accounts!

(ps that was a sarcastic - - I realize the debt we are in, and I have no crystal ball - just gloom and doom!)

 

[adkkev]

Businesses could receive a tax cut in hopes that jobs will be created BUT that does NOT mean that any more jobs will be created. Businesses are obliged to make a profit for their owners, they are NOT obliged to create any jobs. If no one is buying, then they're not selling, and therefore no job creation.
Individuals could receive a tax cut in hopes that they'll spend that money on goods and services, possibly creating more jobs through increased demand. BUT they're not obligated to spend that money ... they may choose to save that money instead. Saving money in a bank (or wherever) does not necessarily translate into additional employment for anyone.
Assumptions are made in either case, none of which may turn out to be true.

 

[Hoodie]

Just to correct - the $13/paycheck is based on the assumption that you are paid biweekly, it's not $13/week. The total for the year would be around $400 per wage earner/$800 per couple, not the OP's $700+ per household, unless she's referring to a dual-income household.

As for stimulus, $26/month won't stimulate much. I did not support the gas tax break this summer as it was pretty much for show. This is the same thing - it's for show and won't actually increase consumer spending. Well, it means I can pick up my coffee habit once or twice a week, but that's about it.

I think the biggest issue with this package is that very little of it will actually do anything to stimulate the economy. $1 trillion dollars of welfare and pet projects.

 

[Octoberbride03]

Likie I'm going to notice an extra 13 bucks in my paycheck. Come on how many adults are really going to notice 13 WHOLE XTRA DOLLARS??

WOOH HOO I can go buy that Presidential motorhome I've been dreaming about!!

To answer your question, I haven't complained about the 13 dollar tax cut. If it actually happens I'll eat somebody's hat. Frankly when I complain about taxes its the whole system I complain about.

Throw it out and Start OVER!! The tax code is longer than any novel on the face of the planet. How is that right?

Personally I like the Fairtax proposal. Everybody pays sales tax and nothing else(that may be oversimplifying it, its been a year or so since i read the book). That'll be a whole lot less headaches, though it may put the IRS out of work. And if now isn't the time to start over I don't know what is.

 

[minnie61650]

We make 160k per year. Do we qualify for the $13?

Thanks.

We make more than you so we too will not qualify for the $13 a week.

We did not qualify for the stim check either but than again we did not need it.

I would rather see the money going to my fellow American's who need it more during these tough economic times.

Just my 2 cents.

 

[Planogirl]

Of course, most of us individually won't notice that $13 but imagine it multiplied by everyone who receives the benefit. That amount is likely to be huge. (Has anyone seen actual estimates?)

 

[Geoff_M]

Businesses could receive a tax cut in hopes that jobs will be created BUT that does NOT mean that any more jobs will be created.

Smart politicians will link such tax cuts/credits to the business being able to show that they added jobs... I'm just saying.

However, I think that you guys may be on to something with the whole "spread it out" - $13/wk approach. I think Obama realizes that McDonald's is the magic bullet to turning this whole boat around. When people start buying an extra value meal or two a pay period with that money well be singing "Happy Days" again in no time! As an added bonus, "freak-out-guy" from Ft. Myers will finally be able to get some real benefits!