How will you spend the Bush Check?

**James48843** · 01-25-2008, 04:20 AM

The President is proposing an economic stimulus check (of budget deficit funds), to spur the economy.

Today, Nancy Pelosi and the House agreed to a plan that would be as follows:

Individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates.

The rebates would phase out gradually for individuals whose adjusted gross income exceeds $75,000 and for couples with incomes above $150,000. Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit.

The Senate has not yet approved- but will probably come along with something along those lines-

So, the question becomes- what do you plan to do with the check?

Will you buy something?

Will you pay off credit card debt?

Will you "stimulate" the economy?

What will YOU do with your "Bush Check"?

**James48843** · 01-25-2008, 04:20 AM

P.S. -

I plan to take my entire "Bush Break" check, and give it to Mr. Obama.

**ChemEng** · 01-25-2008, 04:29 AM

Its looking like a good time to buy a piece of the market for the long term. Doubt we will get prices this low again in a very long time (if ever).

On the other hand, whatre the odds that the Best Buy and WalMarts will start showcasing their on sale hdtvs conveniently priced at $1200 right beside a sign saying they cash refund checks. Any takers?

**Tempest** · 01-25-2008, 05:58 AM

Gets me closer to another share of BRKB.

**weatherweenie** · 01-25-2008, 01:40 PM

Originally Posted by James48843

The rebates would phase out gradually for individuals whose adjusted gross income exceeds $75,000 and for couples with incomes above $150,000. Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit.

So, the question becomes- what do you plan to do with the check?

Will you buy something?

Will you pay off credit card debt?

Will you "stimulate" the economy?

What will YOU do with your "Bush Check"?

I'd assume, especially if you have to add back in TSP and other contributions back into your income, that there will be a fair number of people here that won't get a rebate.

**Idaho Dave** · 01-25-2008, 01:51 PM

Originally Posted by ChemEng

On the other hand, whatre the odds that the Best Buy and WalMarts will start showcasing their on sale hdtvs conveniently priced at $1200 right beside a sign saying they cash refund checks. Any takers?

Refund check for self . . .$600
Refund check for wife . . .$600
Buying a HDTV made in Taiwan to stimulate the American Economy . . .Priceless

**nnuut** · 01-25-2008, 02:22 PM

Just bought one at Circuit City, I can pay it off!!

**Sunnyskies** · 01-25-2008, 02:35 PM

Diesel for the motorhome!

Our plan is to see the southern states this summer.

Retired and loving it!

**Asylum** · 01-25-2008, 02:54 PM

Hookers & blow!

**Silverbird** · 01-25-2008, 03:02 PM

Get my car fixed, the alignment is messed up due to trying to drive on the last snow day and hitting a snow bank. Probably broke an axle. I guess that counts as helping the U.S. economy. Long term, I think this is just an attempt by Bush to appear to be caring about the economy, since the debt increase is going to come to roost after he's gone. ;P

**Bullitt** · 01-25-2008, 03:06 PM

Originally Posted by ChemEng

On the other hand, whatre the odds that the Best Buy and WalMarts will start showcasing their on sale hdtvs conveniently priced at $1200 right beside a sign saying they cash refund checks. Any takers?

Hahaha. You're absolutely right. Why pay down that credit card debt from Christmas or start a Roth IRA when you can buy a new TV? I'm guessing Wally World will have TV's for $1100, no interest for 5 months and if you buy it now you get a trial Direct TV subscription that will go up $100 in 90 days unless you cancel. Meanwhile, spend the money from the tax rebate on a vacation to get away from all the worries of the real world! Talk about making a bad situation worse!

**Asylum** · 01-25-2008, 03:14 PM

Although I was only a kid in the mid 70's when Pres. Ford stimulated the economy with taxpayer rebate checks, I do recall they started the end of the recession that had the collapse of the US steel industries, 9-10% unemployment, double-digit inflation and a stagnant economy.

It was something like $15B which wound up being $125 or per taxpayer.

Hopefully in this case, it will head off, or at least, dampen the current recession specter.