How much did your paycheck go up (or down) this week?

[bignateyk]

This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

 

[dullard]

Originally posted by: bignateyk
This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

~70 million people in the US disagree with you. That is the number of people who live paycheck-to-paycheck. 70 million people spend every cent, every paycheck. 70 million people will spend $10 more each week if they do get $10 more each week. That is a virutally guaranteed $30 billion increase in consumer spending each month. Of course, this is just half of the working population. Some of the rest will also spend it. In the end, we should get $40-$50 billion in additional spending each month.

Yes. That is $500/year per worker. It isn't a huge amount, but it will make some difference in consumer spending. As for your the lump sum suggestion, we tried that last year (remember the ~$600/person check we got). As you can see from our current financial situation, it didn't do much of anything (many people saved it instead of spending it). We don't need a single shot in the arm. We need a series of sustained shots in the arm. However, I do agree with you partly. We can't tax cut our way out of this recession.

 

[vi edit]

Originally posted by: dullard

Originally posted by: bignateyk
This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

~70 million people in the US disagree with you. That is the number of people who live paycheck-to-paycheck. 70 million people spend every cent every paycheck. 70 million people do get $10 more each week and will spend $10 more each week. That is a virutally guaranteed $30 billion increase in consumer spending each month. Of course, this is just half of the working population. Some of the rest will also spend it. In the end, we should get $40-$50 billion in additional spending each month.

Yes. That is $500/year per worker. It isn't a huge amount, but it will make some difference in consumer spending. As for your the lump sum suggestion, we tried that last year (remember the ~$600/person check we got). As you can see from our current financial situation, it didn't much of anything (many people saved it instead of spending it). We don't need a single shot in the arm. We need a series of sustained shots in the arm. However, I do agree with you partly. We can't tax cut our way out of this recession.

This one also didn't cost $42 million to send out freaking postcards saying we'd be getting our $300 shortly either. That's an automatic $42 million in savings.

 

[Modelworks]

I got Amount Payable : IOU

 

[arkcom]

Originally posted by: swbsam
My weekly check has gone up $10 a week, which will be put toward my electric bill.

What did you get? Anyone's paycheck take a dent?

You wouldn't be able to pay your electric bill this month without that $10?

 

[jonks]

Originally posted by: Savij

Originally posted by: SparkyJJO
So... we tax people just to throw a little back in your paycheck and tax you again on it. Makes perfect sense.



For some people this little push could be enough to push them over into the next tax bracket and make them end up farther behind. That would suck.

You don't know how income tax works.

Yes he does. And if he put the extra money he earned in the bank he'd be a billionaire in 20 years because of compound interest. It's science.

 

[Exterous]

I haven't gotten the first paycheck from my new job so I don't know. I do know I would have much rather gotten it in a lump sum

 

[zerocool84]

Originally posted by: Kelemvor
Mine dropped. We all got 10% pay cuts due to the wonderful economy.

Just be happy you still have a job.

 

[Phokus]

Originally posted by: bignateyk
This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

Not really, the poorer you are, the more economic utility each additional dollar you get back in taxes, so you're almost forced to spend it. Sorry, you're wrong.

 

[Aimster]

Isn't it $10/week for most people?

 

[dullard]

Originally posted by: Aimster
Isn't it $10/week for most people?

$500/year per worker. So, yes, that comes out to about $10/week.

 

[shortylickens]

Nothing.
I lost my last job in Sept. and went back to school full time, living off my GI Bill and the little money I get for having a 10% disability.
On the state level, its a good thing Virginia is nice to veterans.

 

[geno]

Originally posted by: bignateyk
If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

That's the impatient, stupid way of going about fixing things. We've tried that already, and everyone either bought a TV or stuffed it into savings. This way, the money that is "disbursed", in a sense, will be more spread out across the economy evenly.

 

[JDub02]

I'm not expecting much. I had to adjust my W4 because I didn't have enough tax taken out last year.

 

[GodlessAstronomer]

Originally posted by: dullard

Originally posted by: bignateyk
This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

~70 million people in the US disagree with you. That is the number of people who live paycheck-to-paycheck. 70 million people spend every cent, every paycheck. 70 million people will spend $10 more each week if they do get $10 more each week. That is a virutally guaranteed $30 billion increase in consumer spending each month. Of course, this is just half of the working population. Some of the rest will also spend it. In the end, we should get $40-$50 billion in additional spending each month.

Yes. That is $500/year per worker. It isn't a huge amount, but it will make some difference in consumer spending. As for your the lump sum suggestion, we tried that last year (remember the ~$600/person check we got). As you can see from our current financial situation, it didn't do much of anything (many people saved it instead of spending it). We don't need a single shot in the arm. We need a series of sustained shots in the arm. However, I do agree with you partly. We can't tax cut our way out of this recession.

Excellent post. Also not to mention that with the large stimulus all at once there is a greater chance of the money going overseas. Large purchases like consumer electronics tend to export money to Asian countries, but with $10 a week it's more likely to be spent on things like food or utility bills, which will have a greater impact on your local economy.

 

[swbsam]

Originally posted by: arkcom

Originally posted by: swbsam
My weekly check has gone up $10 a week, which will be put toward my electric bill.

What did you get? Anyone's paycheck take a dent?

You wouldn't be able to pay your electric bill this month without that $10?

Hah, of course I would. I just meant to say that I wasn't going to spend it frivolously. I actually just paid my walmart bill - $15 a month

 

[Engineer]

No changes as of yet. I'm on a two week schedule though so it might not hit until next two period.

 

[HardcoreRobot]

if it didnt go up, i guess it will have to go down to pay for everyone elses

hooray

 

[shoRunner]

Originally posted by: SparkyJJO
So... we tax people just to throw a little back in your paycheck and tax you again on it. Makes perfect sense.



For some people this little push could be enough to push them over into the next tax bracket and make them end up farther behind. That would suck.

you obviously don't know how taxes work as that is impossible.

 

[swbsam]

Originally posted by: HardcoreRobot
if it didnt go up, i guess it will have to go down to pay for everyone elses

hooray

Thanks

I'll buy you a drink sometime, as a thank you from me to you. Of course, I'll probably "forget" my wallet at home.. But you'll spot me - but I'll get you back next time!

 

[spidey07]

Originally posted by: swbsam

Originally posted by: arkcom

Originally posted by: swbsam
My weekly check has gone up $10 a week, which will be put toward my electric bill.

What did you get? Anyone's paycheck take a dent?

You wouldn't be able to pay your electric bill this month without that $10?

Hah, of course I would. I just meant to say that I wasn't going to spend it frivolously. I actually just paid my walmart bill - $15 a month

What's even funnier is your energy bill is going to go up more than 10 bucks a week thanks to cap and trade.

 

[dmw16]

My check last week was $1700 more than the previous week, but that was mainly because I got a new job and not cuz of Obama. Sure beats $13

 

[arrfep]

Originally posted by: dullard

Originally posted by: bignateyk
This has to be the stupidest stimulous idea ever. Noone is even going to notice the extra couple $$ a month in their pay check. The whole point of it is for people to spend it. Noone is going to say "HOLY SHIT I JUST GOT $10!! I'M GONNA GO BLOW IT ON SOMETHING HUGE"

If they did it right and gave a one-time $500, then people get it and see they have $500 and they can buy something cool for $500.

~70 million people in the US disagree with you. That is the number of people who live paycheck-to-paycheck. 70 million people spend every cent, every paycheck. 70 million people will spend $10 more each week if they do get $10 more each week. That is a virutally guaranteed $30 billion increase in consumer spending each month. Of course, this is just half of the working population. Some of the rest will also spend it. In the end, we should get $40-$50 billion in additional spending each month.

Yes. That is $500/year per worker. It isn't a huge amount, but it will make some difference in consumer spending. As for your the lump sum suggestion, we tried that last year (remember the ~$600/person check we got). As you can see from our current financial situation, it didn't do much of anything (many people saved it instead of spending it). We don't need a single shot in the arm. We need a series of sustained shots in the arm. However, I do agree with you partly. We can't tax cut our way out of this recession.

+1. I wish I'd known this was occuring earlier today. A coworker of mine is planning on moving into a new apartment, and is trying to get the landlord to come down $25 a month in the rent. We were going over her budget and finding ways to trim $25 from somewhere else.

I think the problem is that people will spend $13 so freely on a regular basis (2 beers around here) that nobody thinks it's a worthwhile amount. But if you're hurting in the first place, that could be two weeks worth of breakfasts.

 

[Trey22]

15% paycut.

Whatever extra I get from the stimulus bill is still going to suck.

 

[RaistlinZ]

Originally posted by: child of wonder
Over 9000.

:Q