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What will you do with yours?

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I just wrote my Congresscritters... simple message:

Dear Senator/Representative (sent to Bond, McCaskill/Graves, individualized)


As your Constituent, How we fix the mess caused by US banking center banks overextending themselves in the subprime mortgage market matters to me. I have an IRA position in several banking center banks. I've seen the hit to my retirement accounts. I've seen the questions of confidence in the US markets rendered by market pricings these past few days.


How you, as one of my two Senators, decide to intervene and stimulate the national economy matters to me. While Republican and conservative, income redistribution feels, if you will "hokey." Aiding folks who are losing employment as a result of this mess feels helpful. Priming the production lines where the US Government can feels helpful.


Allow me to be very plain: If you expect my vote in your next election cycle, do not support making the "economic stimulus" an advance of my 2008 Tax Year refund. Make it a one time reduction of Tax Year 2007 tax rates, or find another means.




Please pass along to the Negotiators and Appropriators: Have you considered a stimulus of additional Food Stamps to those entitled (and who need it), or surging DOD orders to factories for equipment wearing out in the Global War On Terrorism?


Thank you, John


Yes, I know the newsies have reported pumping up Food Stamps is off the table.(This message has been edited by John-in-KC)

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First of all, there is no money. There are two ways to make this rebate: Advance it against Tax Year 2008 filings, or add it to the deficit.


Frankly, neither of those appeal to me. (Edit to add: I dislike the advance more, though).


I'm a conservative (gee, isn't that a BFFO). I know we need to find our way out of the subprime mess, and we need to restore confidence in our markets, but an advance isn't the way to do it.(This message has been edited by John-in-KC)

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You are so right.

What I can not understand is the "circus" atmosphere that is going on about this "rebate".

Everyone is treating this as if they have won the Lotto. Very few understand that this is not "New" money. It's like taking an advance on your paycheck (or in this case next years return). You have to pay it back (subtract it from your next refund).

There is no such thing as a free lunch.

Another sad thing is the "fools" who are thinking how great the President and Congress are to do this great giveaway. it goes to show you how many people in this country are really "sheeple".

Maybe I can find one of them to buy that "Ocean front" property I have in North Dakota. ;o)

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That's what scares me about the future of this country...most voters will cast their vote to whomever promises to grease their palms with the most cash in the form of handouts or entitlements (so far, that's Hillary). They don't give a flip what it does to the country or the economy ... or to our grandchildren's quality of life.


Those who made bad decisions taking out (or giving) subprime loans that they can't afford, or who are stupid enough to run up thousands of dollars in credit card debt at double digit interest rates should have to deal with it without the government interfering. It's not MY responsibility to protect you from your own stupidity.


Handing me a check for $300 is not going to change a thing in my life.

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But if I take my "free" money and spend it, it will solve all the problems right?


Lets see, $500 new racing leathers made in China and sold by an online merchant out of state. Retains maybe 20% in USA, China does good. Local economy doesn't get anything. Retailer gets to stay online for another day. UPS gets piece of the action.


$300 Tuition in the racing school at the local track, 100% retained locally. The track instructor gets to eat for the weekend and the track owner can stay in business for another week.


Life insurance guy gets $200 in increased premiums because I intend to kill myself on the track. Not sure how much commision he gets out of it, but that stays locally. The rest pays the country club fees for the executives somewhere in Conneticut.


And all these trickle down benefits on the debt my children will inherit. Whata Country!



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Here's my joy. I'm divorced. I get to claim the exemption every other year; this was to be my year. When it comes to his bed-down, though, she's the residential parent.


The last time around the IRS based the child's rebate on who was the residential parent. I had to renegotiate the exemption schedule. Care to bet that is what will happen again?


That means I get to re-negotiate the exemption schedule, again.


Grrrrrrrrrrrrrrr :(

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Hey, I always thought I got the short end of the stick John!

Heard on the radio today that even with the quick action of the president and congress to pass this mess, some of us won't be seeing the checks until possibly July. So much for an emergency stimulus. Also, cycle racing school is in April so it won't do me any good there. Perhaps I'll use it for skydiving lessons in August. Paying off personal debt just makes this stimulus a payoff to the credit card companies. We really need to target our booty on the needy, like sky diving instructors.

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"If this comes to pass, mine will go into a 401K."


You can't do that--it would be unpatriotic. You have to spend the money on something that you wouldn't otherwise buy.


That is, if you get any money. The House scheme only gives anything up to certain incomes (I think $150,000 for a couple), which lets out a lot of the middle class. The Senate is looking at a plan that would give $500 to more people. It will probably have to be worked out in a House-Senate Conference--if the whole idea doesn't just disappear.

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Now it looks like the Senate is going to play Senatorial games with this "stimulus." Anyone care to bet on a date W signs it?


What would be a better stimulus? Each corporate CEO, Board Chair and President of the Russell 2000 puts his/her year-end bonus into a new house (that can paid for in cash with said bonus). That will help re-prime the pump.



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Ah, an enterprising DE!


Mine gets matched by me and reinvested in Scoutin'. Not FOS, direct contribution to troops I know are doin' good work and need the help for camperships and gear for kids who otherwise couldn't make it, or need just a touch of incentive to do somethin' new and special.


I figure it's their future the Congress is trying to steal from, I'd better at least try to reinvest it in them!


BTW, I think that should be a requirement for Committee Members and Unit Commissioners in any unit - every year, yeh gotta give both time and treasure to the unit. We all know the unit leaders are, eh? Only way to be credible is to do the same.




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