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Ha Ha Ha. Nice try on the economic "stimulus" guys...

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March 24, 2008 – Comments (6)

Rebate checks won't get spent

Majority of Americans say they plan to put their tax rebate checks in the bank or use it to pay off debt, according to a recent poll.

According to the story "majority" is an understatement. Only 20% said they'd spend it.

6 Comments – Post Your Own

#1) On March 24, 2008 at 9:05 PM, EScroogeJr (< 20) wrote:

Oh, they said that...

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#2) On March 24, 2008 at 9:13 PM, TMFHelical (98.70) wrote:

I'm using mine to buy distressed CDOs : )

What goes around comes around.

Zz

As an aside, I make a decent salary - single income, wife in school (again), 3 kids and a mortgage.  Factor in this 'stimulus' (which is really on 2008) and I'm paying very little in the way of taxes.

 

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#3) On March 24, 2008 at 9:18 PM, FourthAxis (< 20) wrote:

"Oh, they said that..."  Ditto.  I too say history rhymes. 

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#4) On March 24, 2008 at 9:55 PM, Imperial1964 (97.93) wrote:

I'm in the 20% who is spending it.  But I'm spending it (several times over) on home improvements.  If I didn't have that going on, I'd spend it on stocks after the S&P hits 1100.

If the government wants us to waste money, they should just waste it for us.  Oh, wait.  They already do that.

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#5) On March 24, 2008 at 10:29 PM, camistocks (< 20) wrote:

from the article:

A CNN/Opinion Research Corp. poll found that 41% of respondents plan to use their rebates to pay off bills, and 32% will put the money in savings. Just 21% of those polled intend to spend the money, while 3% said they will donate the extra money to charity.

If 32% intend to put the money into savings (in a bank) that would give the banks $40 billion new deposits (32% of $120b). The banks could then lend $400 billion or so thanks to fractional reserve banking.

Is that bad? 

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#6) On March 25, 2008 at 8:49 AM, devoish (99.07) wrote:

is that bad?

Eventually.

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