Instead of cash refunds interesting idea to give everyone debit cards.

[techs]

Wow. I just read a very interesting idea about how the government should handle the stimulus money. I can't say whether or not I am for it yet, but it has some very positive aspects.
Simply put give everyone their stimulus money in the form of a debit card. This can be done amazingly quickly. It was how FEMA chose to get money to the Katrina victims.
So the first advantage is speed.
Second, give the cards an expiration date. Since the idea is to quickly stimulate the economy this is the way to do it.
Now, I understand that people can just use the cards to make the routine purchases they were going to make anyway, then use the money they save just like a cash refund. However, they would still have to make those purchases within the cards timeframe. And it would stimulate people to actually make purchases with the cards, which is the purpose of the stimulus.
Third it would put more of the money into the real economy, not the underground cash economy. While the underground economy is actually a good thing, it wouldn't supply the stimulus as corporations and legitimate businesses being able to put the money "on the books"

 

[Pabster]

Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

 

[jackschmittusa]

Yeah, the merchants will love it when the cards get low for millions of people. I can hear it now "Well, try using it for $20, then $10 if that does not work. I'm sure there is some left on it."

 

[Corbett]

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Bwahaha! Yeah, seems people easily forget what many Katrina victims spen their debit cards on!

 

[StageLeft]

I am going to take my rebate and with the majority of it either save it or put it into a credit card. I will not be uselessly spending it, per its intent. If you gave me a debit card, I'd just use that to buy gas/groceries, etc. for the next while, maybe stock up on a year worth of toilet paper. If it still wasn't enough, I'm sure I could find something to buy on somebody's behalf and have them give me the cash for it. I won't be tricked like an idiot if somebody gives me a debit card instead of a check.

 

[techs]

Originally posted by: Corbett

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Bwahaha! Yeah, seems people easily forget what many Katrina victims spen their debit cards on!

This is completely different. This is the individuals money to spend as they like.

 

[BarneyFife]

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Spending money at liquor stores and strip joints is better for our economy than spending money in Walmart.

 

[techs]

Originally posted by: BarneyFife

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Spending money at liquor stores and strip joints is better for our economy than spending money in Walmart.

Sad, but true.

 

[EagleKeeper]

Originally posted by: BarneyFife

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Spending money at liquor stores and strip joints is better for our economy than spending money in Walmart.

It is not where you spend it, but what you spend it on.

A US made electronics product at Walmart has the same impact as buying it at Sears.
You can by a foriegn made electronics product at Walmart and that has the same impact as buying at Sears.

It is where the product is manufatured, not where purchased.


Same goes for liquor - Hienekin (sp) is no as good for the US economy as Coors
Wine from Napa is better for the economy than something from France/Italy.

Strip joints may be good your emotions, but where does the $$ go after that point.
Foriegn or Domestic.

The amount of repeat rollovers into domestic content is what will have the most effect.

 

[Jhhnn]

A US made electronics product? Like what?

And, uhh, Coors Beer, not Coors wine...

It's gonna be tough to stimulate an economy that's suffering from the aftereffects of the refi cashout boom, anyway- that wasn't the feelgood chickenfeed of tax rebates, but the drawing down of the equity watertable... Now, when people send their bucket down that well, all they'll get is a plonk! when it hits the dry bottom...

 

[EagleKeeper]

Originally posted by: Jhhnn
A US made electronics product? Like what?

And, uhh, Coors Beer, not Coors wine...

It's gonna be tough to stimulate an economy that's suffering from the aftereffects of the refi cashout boom, anyway- that wasn't the feelgood chickenfeed of tax rebates, but the drawing down of the equity watertable... Now, when people send their bucket down that well, all they'll get is a plonk! when it hits the dry bottom...

There are some electronics that are US made.

What was said about Coors wine.?😕

Comparison was made to purchasing domestic vs import beers.
The same comaprison was made to wine purchases

 

[palehorse]

hmm.. not a bad alternative. It would certainly be interesting to track the spending and see if it's being used as intended... then again, there might be a few civil liberties that get in the way of actually collecting that data.

It's still an interesting alternative -- which means it will never happen! 😀 DOH!

 

[Jaskalas]

Not a bad idea.

 

[GroundedSailor]

Originally posted by: EagleKeeper

Originally posted by: BarneyFife

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Spending money at liquor stores and strip joints is better for our economy than spending money in Walmart.

It is not where you spend it, but what you spend it on.

A US made electronics product at Walmart has the same impact as buying it at Sears.
You can by a foriegn made electronics product at Walmart and that has the same impact as buying at Sears.

It is where the product is manufatured, not where purchased.


Same goes for liquor - Hienekin (sp) is no as good for the US economy as Coors
Wine from Napa is better for the economy than something from France/Italy.

Strip joints may be good your emotions, but where does the $$ go after that point.
Foriegn or Domestic.

The amount of repeat rollovers into domestic content is what will have the most effect.

Even if some of the strip joint spending goes foreign it will still rotate a couple of times through the domestic economy, firstly at the strip joint and then probably on liquor, whereas spent at Walmart (where I suspect most of the money will be spent) it's only 1 short hop for part of the money going to stimulate China's economy.

Most of the beer sold in liquor stores is US beer. Foreign beers tend to be a niche market. Either way at least the money is rotated through the domestic economy for the most part.

 

[smack Down]

Originally posted by: Corbett

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Bwahaha! Yeah, seems people easily forget what many Katrina victims spen their debit cards on!

Why do I care where Katrina victims spent their money?

 

[Slew Foot]

I say just give everyone a billion dollar debit card and be done with it. The only one who really gets screwed are the foreign countries that hold the US debt. We get to pay them back with crap!

 

[Jhhnn]

There are some electronics that are US made.

I'm sure there are- like what? Smart bomb guidance systems, satellites, and then what? What consumer grade stuff that people would spend their tax rebate to acquire?

 

[brxndxn]

This is a stupid idea.. but then again, the 'stimulus' package is a stupid idea..

The government does not have money to give us. We do not have money to spend (at least most of us). The government borrowing money so that we may spend now is a ridiculous idea.

The economy needs to retreat immediately... in order to avoid a complete collapse in the future.

 

[TheSlamma]

How does taking a debt card into Walmart and buying a bunch of Chinese and India made shit going to help the economy?

 

[JD50]

Originally posted by: smack Down

Originally posted by: Corbett

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Bwahaha! Yeah, seems people easily forget what many Katrina victims spen their debit cards on!

Why do I care where Katrina victims spent my money?

Fixed...😛

 

[EagleKeeper]

Originally posted by: brxndxn
This is a stupid idea.. but then again, the 'stimulus' package is a stupid idea..

The government does not have money to give us. We do not have money to spend (at least most of us). The government borrowing money so that we may spend now is a ridiculous idea.

The economy needs to retreat immediately... in order to avoid a complete collapse in the future.

Remember that this is not FREE money - Just like in 2001 - it will affect your taxes in 2008 - it is just an advance that will have to be accounted for.

This is just a feel good fuzzy by Congress to make you think they actually care for you.

 

[Red Dawn]

Originally posted by: EagleKeeper

Originally posted by: brxndxn
This is a stupid idea.. but then again, the 'stimulus' package is a stupid idea..

The government does not have money to give us. We do not have money to spend (at least most of us). The government borrowing money so that we may spend now is a ridiculous idea.

The economy needs to retreat immediately... in order to avoid a complete collapse in the future.

Remember that this is not FREE money - Just like in 2001 - it will affect your taxes in 2008 - it is just an advance that will have to be accounted for.

This is just a feel good fuzzy by Congress to make you think they actually care for you.

Unless you adjust your with holding so you don't get a refund for 2008 then you won't have to pay it back.

 

[EagleKeeper]

Originally posted by: Red Dawn

Originally posted by: EagleKeeper

Originally posted by: brxndxn
This is a stupid idea.. but then again, the 'stimulus' package is a stupid idea..

The government does not have money to give us. We do not have money to spend (at least most of us). The government borrowing money so that we may spend now is a ridiculous idea.

The economy needs to retreat immediately... in order to avoid a complete collapse in the future.

Remember that this is not FREE money - Just like in 2001 - it will affect your taxes in 2008 - it is just an advance that will have to be accounted for.

This is just a feel good fuzzy by Congress to make you think they actually care for you.

Unless you adjust your with holding so you don't get a refund for 2008 then you won't have to pay it back.

You still have to pay it back - becomes a tax owed.

 

[Phokus]

Originally posted by: EagleKeeper

Originally posted by: BarneyFife

Originally posted by: Pabster
Fourth, we could get real-time results of where all the money is being spent. You know, see how many liquor stores and strip joints are basking in the sun. :laugh:

Spending money at liquor stores and strip joints is better for our economy than spending money in Walmart.

It is not where you spend it, but what you spend it on.

A US made electronics product at Walmart has the same impact as buying it at Sears.
You can by a foriegn made electronics product at Walmart and that has the same impact as buying at Sears.

It is where the product is manufatured, not where purchased.


Same goes for liquor - Hienekin (sp) is no as good for the US economy as Coors
Wine from Napa is better for the economy than something from France/Italy.

Strip joints may be good your emotions, but where does the $$ go after that point.
Foriegn or Domestic.

The amount of repeat rollovers into domestic content is what will have the most effect.

Considering how globalized our economy is... i don't think this matters much. It's a good thing when other countries do well because they'll buy our products/services too.

 

[Red Dawn]

Originally posted by: EagleKeeper

Originally posted by: Red Dawn

Originally posted by: EagleKeeper

Originally posted by: brxndxn
This is a stupid idea.. but then again, the 'stimulus' package is a stupid idea..

The government does not have money to give us. We do not have money to spend (at least most of us). The government borrowing money so that we may spend now is a ridiculous idea.

The economy needs to retreat immediately... in order to avoid a complete collapse in the future.

Remember that this is not FREE money - Just like in 2001 - it will affect your taxes in 2008 - it is just an advance that will have to be accounted for.

This is just a feel good fuzzy by Congress to make you think they actually care for you.

Unless you adjust your with holding so you don't get a refund for 2008 then you won't have to pay it back.

You still have to pay it back - becomes a tax owed.

Are you sure? I thought that was the case but then I read that you only owe it if you are getting a refund. What ever, it's stupid fucking idea.