How do you plan on spending your $600?

Email Print posted by alphasigmookie 01/24/2008 02:42:36 PM EST

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As I'm sure you are know, the government is planning on giving us all $600 just so we can go blow it in the name of economic prosparity.  How do you plan on spending yours?

Mrs. Mookie and I had jokingly discussed about using it for another trip to europe...but even the extra $1200 wouldn't totally offset the added expense due to the complete tanking of the dollar vs. the euro. 
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How do you plan on spending your $600? | 43 comments (43 topical, 0 hidden)
Gonna run out and buy piles of DVDs (none / 0)

Not.  It'll either go into the new roof fund, or to make another principal payment on the house.

Now, is a "rebate" really a handout, or will this just be subtracted from our 2008 tax refund? 

"If you're not pumped up, then get the hell out, 'cause you don't belong here." -- Cenk Uygur

by Spinny on 01/24/2008 02:45:15 PM EST

Don't spend your rebate just yet (none / 0)

Washington wants to jolt the economy, but it might be June before taxpayers see checks. Treasury says it will try to move faster.

By David Goldman, CNNMoney.com staff writer
January 24 2008: 2:22 PM EST

NEW YORK (CNNMoney.com) -- Washington leaders have agreed on a $150 billion deal to stimulate the economy by giving workers rebates of as much as $600 or more.

But some experts say it could be summer before Americans see any real cash.

The goal for both Democrats and Republicans is to get the money into the hands of consumers as soon as possible.

First the Internal Revenue Service has to cut the checks. That's the tricky part.

The earliest the IRS could start mailing out checks is the end of June, since the agency is now in the middle of the 2007 tax-filing season, experts said.

"It is remarkable that the world's leading economic power can't get checks out the door faster than that," Peter Orszag, the director of the Congressional Budget Office, told the Senate finance committee on Tuesday. "But it's a reflection of the fact that the IRS's infrastructure is in a state that's under pressure and consumed, again, with the normal tax-filing season."

An IRS spokesman declined to comment.

http://money.cnn.com/2008/0 1/24/news/economy/rebate_ti ming/index.htm 

"If you're not pumped up, then get the hell out, 'cause you don't belong here." -- Cenk Uygur

by Spinny on 01/24/2008 02:52:36 PM EST

Visa gift cards (none / 0)
By the way, I so hope they give us all our rebates in the form of visa gift cards (like FEMA in NO).  I just can't wait to hear all the fun news stories about how people blew their rebate!  I've betting at least 10% spend it on strippers and booze! 

Some stocks that should see huge jumps in revenue for Q2/Q3 are:

BUD
MO
SWHC
RICK
HET

If you can't choose, it might be wise to invest your $600 into this mutual fund: VICEX

by alphasigmookie on 01/24/2008 02:53:38 PM EST

Hell, mook! (none / 0)
As long as they're American strippers & booze...

(ahem)

...Mission Accomplished!!

by MedfordTim on 01/24/2008 04:03:54 PM EST

[ Parent ]
No problem (none / 0)
Easiest answer in the world: new vision prescriptions for the family and pay off outstanding medical debt. Hope that helps the economy.

by MayorHardin on 01/24/2008 03:12:56 PM EST

I did have a different idea. (none / 0)
My first thought to take the trip to Mexico we had to cancel due to the recession in 1980. Take that, economy! But dumping those medical bills would be like a vacation.

by MayorHardin on 01/24/2008 03:16:51 PM EST

money (none / 0)
Ooh a vacation to Mexico sounds like a good idea.  I have a friend who just retired down there and wants me to visit.  But unfortunately I think the money is just going to help me with some debt.  :(

by qsoundrich on 01/24/2008 03:24:44 PM EST

[ Parent ]
Spend it they way they don't want u to. (none / 0)
I am going to use it to pay down my debt.  That is the most fiscally responsible thing to do.  They want you to go out and spend it on things that will put the money in the hands of big corporations as wekk as Chinese and Indian manufacturers.  We ( America ) are in this place economically because we have debt that is increasing faster than out income. http://therealnews.com/c.ph p?c=070926YT
 So do the smart thing, pay down those credit cards if you have them and if you dont put the money in an interest bearing account. 

by mjackson5 on 01/24/2008 03:47:18 PM EST

Funny (none / 0)
I was thinking the same thing.  How many people, myself included, will just pay off (some of our) interest laden debt?

by ihavenobias on 01/24/2008 09:11:45 PM EST

[ Parent ]
yep (none / 0)
That's my only plan for the extra money too.

by desertpear on 01/24/2008 10:16:56 PM EST

[ Parent ]
Indeed (none / 0)

by Spencer on 01/25/2008 02:43:07 AM EST

[ Parent ]
I though it was just me (none / 0)
but strangely enough, I agree with Cenk on this one. This is the dumbest idea on two feet. They are going to give us normal Joes $600 while the rich and the corporate elite continue to steal even MORE money to stash offshore. Screw the $600 dollars, which is not even real anyway. If EVERYONE has $600, then NO ONE has $600. This is a total 3rd world country move. Fix the goddamed economy. Stop the damned spending. God help our children with the mess we are leaving them.

by mijoh on 01/24/2008 03:49:09 PM EST

the worst part of this (none / 0)

Handing out money might work to help things short-term if there was a long-term solution coming right on its heels.  But there's no chance of that since the Democratics have to drop any good ideas to keep the Republicans from pushing for more of their idiotic tax cuts.  At best it'll hold off the big hurt we're in for in the long run while pumping up the debt a little bit, but I'm not that optimistic.

But since they're going to force it on us hopefully it'll show up before this filling falls out and my uninsured ass has to pay for it out of pocket. 

by ynp7 on 01/24/2008 10:37:35 PM EST

[ Parent ]
Dental work YEAH! (none / 0)
I need a nightguard (which is of course not covered by my insurance) so I can quit grinding my teeth from the stress of my crippling debt...  which is where the rest of my money will go.  Can't wait.  GO REBATE! WOOT WOOT!

by Spencer on 01/24/2008 04:13:35 PM EST

FYI (none / 0)
You can buy a cheap but decent Nightguard from your local drugstore for $30-40 or so.  Obviously it's not *as* good, but if you really need it, go get it.

by ihavenobias on 01/24/2008 09:10:07 PM EST

[ Parent ]
yeah, you might try this idea first (none / 0)
I got one of those guards about a year ago from my dentist and it was quite an expensive process.  But it was either that or break my teeth from stress.  Can't hurt to try the generic one first.

by desertpear on 01/24/2008 10:15:49 PM EST

[ Parent ]
Wow thanks (none / 0)

Look at you liberals... all caring and shit.  It's adorable.

 

Anyway, I tried a cheaper one already but I couldn't sleep with it in my mouth.  Apparently the one the dentist makes is supposed to be smaller and more properly fit or something.  And I'm not even going to get into how far along the problem is already (I hadn't been to the dentist in quite a few years).  But I don't want to hijack this post so I'll let everyone know how it goes with my upcoming "Nightguard: The Fallout" forum post (kidding).

 

But is anyone else a little disturbed that so many people have this problem now.  Just another in the long line of things we can blame on Bush I guess.

 

Thanks again. 

by Spencer on 01/25/2008 02:58:02 AM EST

[ Parent ]
Not this time. (none / 0)
I don't get a paycheck. I get a disability check. I don't even qualify for the $300 check. Kids do. Not disabled. Not retired. But kids do.

See, it's cause my rent, electricity, gas, internet, food, and stuff aren't contributing to the economy. Only people with jobs contribute. The rest of us are just taking up space and valuable resources.

Hey, there's an idea! Just line up all us 'useless' types and give us a big Valentine's Day "party," Chicago style. Just think of how much that will ease the burden on those poor billionaires and multi-nationals. It would certainly lower health care costs. Instead of a Logan's Run style age cut-off, there could be an earning potential level threshold and medical cost-effective studies to determine who stays and who "makes the cut."

Bitter? Me? Nah.

by MedfordTim on 01/24/2008 04:18:53 PM EST

Brilliant! (none / 0)
I wouldn't share that idea with too many people.  I'm sure there are plenty of Republicans who would jump at the oportunity to fix the economy AND the global population problems! 

by alphasigmookie on 01/24/2008 04:59:21 PM EST

[ Parent ]
Volunteer for Solent Green (none / 0)
Is that what you'd like?

by zenie on 01/25/2008 09:07:49 AM EST

[ Parent ]
Soylent Green (none / 0)

by zenie on 01/25/2008 09:08:25 AM EST

[ Parent ]
How much do you want to bet (none / 0)
This money will be considered "income" by the IRS, and taxable--thereby taxing us on our taxes.

"If you're not pumped up, then get the hell out, 'cause you don't belong here." -- Cenk Uygur

by Spinny on 01/24/2008 06:32:34 PM EST

hmm (none / 0)
IPODS!

by acroso on 01/24/2008 07:03:45 PM EST

Well... (none / 1)
Maybe I'll have enough for a TYT membership! Hows that to contributing to the Economy!!!

by bobo1 on 01/24/2008 08:23:14 PM EST

Investment Tip: Go long on 40s! (none / 0)
I recommend purchasing stock in companies that brew and package malt liquor in 40 oz bottles.

That's what most of the $600 checks will be spent on. 

The same thing happened in Houston when all of the Katrina people received their FEMA Visa cards.

by KenTX on 01/24/2008 10:27:49 PM EST

Tisk, tisk (none / 0)

Purposely trying to pump up a Texas based company.

You should be ashamed of yourself. Although, it maybe spending money on domestically made products? Unless it is actually brewed in Canada.

by z1p101 on 01/24/2008 10:48:51 PM EST

[ Parent ]
VICEX (none / 0)
I was going more for covering all the bases....Cigarettes, Beer, Gambling and Strippers

by alphasigmookie on 01/25/2008 01:40:58 AM EST

[ Parent ]
Forgot Firearms! (none / 0)
Sorry, how could I forget firearms...which is probably what I will realistically spend mine on.  I've been wanting to build a nice AR-15 for a while and this will be a perfect excuse...just in time before Hillary or Obama can try to ban them again.  Don't worry though, I'll make sure to take a picture and send it to Nancy along with my thank you note.   

by alphasigmookie on 01/25/2008 01:54:40 AM EST

[ Parent ]
How about a sex change? (none / 0)
Didn't someone get a gender reassignment surgery with their FEMA check?  I think I heard something about that.  Like the hurricane washed away their house and their desire to be a man.

by Spencer on 01/25/2008 03:04:36 AM EST

[ Parent ]
lol (none / 0)
thinking of a $600 sex change makes me laugh.  Could be a mistake.

by desertpear on 01/25/2008 03:04:31 PM EST

[ Parent ]
HA Solid point (none / 0)
That would be like a back of a van with some icy hot kind of situation.  No thanks.

by Spencer on 01/25/2008 11:25:09 PM EST

[ Parent ]
the question is when? (none / 0)
If you are lucky enough to only fill up bi-weekly, you started spending the money two years ago on inflated gasoline prices. It works out to be a dollar a gallon for 2 years, give or take. If you have to commute you already know you are screwed, sorry. That also means that your house has been devalued so much, you could not sell it or even refi if you wanted to.

 

What no one wants to say about any of these policies is that borrowing money to give tax cuts its “spending”. If you borrow money and don’t provide an asset in return, it’s stealing. The more value baseless money you print, the less all of it is worth. So for people who don’t “pay taxes” other than social security, we are still taxing them indirectly by making their money worth less.

 

So every time Twit Romney or S & L McCain talk about more "tax cuts", jus insert the words “steal more money”. That goes for any of the other criminals like Larry Kudlow and Glen Beck.  


by sisco66 on 01/25/2008 05:45:47 AM EST

rebate (none / 0)
well I have to use my mastercard to put food on the table. so I think it will be that I use mine and my wife's $ to feed us for 4 or 5 month's and not use my card to do that. and if if we made something in the us that I can use it on  I will ,but that's not much anymore.so maybe they can just keep it and fix the spending on pork and let that help us all like the retired and the disabled and all the rest that will not get any help and anybody making over 80,000 don't need it come on 170,000

by tuna on 01/25/2008 06:28:02 AM EST

Credit cards that pay you (none / 0)

I have 3 credit cards that pay me to use them. Don't use credit cards that don't pay you. My BP card pays 5% on BP gas and 3% on food. The other Chase card pays 3% on all gas and 1% on everything else. AmEx pays for travel and food.

We charge almost everything, except when we don't want a record of purchases. We get paid to use our credit card, and pay the full amount when the bill arrives each month. It sound so un-American, but we don't buy things we can't afford to pay for each month. Our house isn't big, and it's mostly solar. The cars are energy efficient. I have a big garden and can or freeze what I grow. We have a monthly/yearly budget.

We got sucked into technoporn toys last year and bought two flat TVs at Costco. It cost $100 for a Costco business membership, but we got $140 in rebates from Costco and AmEx. 

We're lucky. We have two health insurance plans. Nobody should have to pay for food with a credit card unless they can pay it off at the end of the month and get paid by the credit card companies. It's obscene to become poor because you can't get decent health care. No rebate will help in the long run.

Solution? Stop the wars. Fire all contractors.  Support keeping manufacturing in the US. Eliminate the ceiling for Social Security tax and lower the tax rate by 1-2%. Pay off the national debt. That will give us all a raise without having to pay for the Bush/Bush/Reagan debt and interest. Conservative responsibility. HA! What an oxyMORON! 

by zenie on 01/25/2008 10:00:38 AM EST

[ Parent ]
food and cards (none / 0)
hey after the house and gas,heat,water etc. it's all gone the one thing I have is the internet and tyt other wise I need to stay home no $ to go. so do I starve or frezze or don't buy gas to get to work, bush has done me in in the last 7yrs and I can hope it will change or just sit here. and I will vote in november and hope they will help all of us, but thanks for the card speech. my cards do give back ,not quit that much but they do

by tuna on 01/26/2008 08:47:35 PM EST

[ Parent ]
ANOTHER STOOOOOOOOOOPID IDEA (none / 0)

Remember the last "rebate check" they sent us? It wasn't a rebate, it was a loan.

This "rebate" is supposed to cost $100 million:  Pocket change as the fed budget goes. Why not eliminate waste in the government instead? Fire Blackwater contractors. Fire ALL contractors in Iraq and Afghanistan--and here too. Stop the wars. Bring the military home. That could save a few $100 billion. There's no sane reason for us to be fighting wars to make the oil companies richer.

I think I'll take my rebate check and fly back to Hong Kong for a shopping spree, buy goodies you can't get here and sell them on eBay at a huge profit.

Better yet, I can use the money to pay for the propane for backup heating. Propane has increased almost $1.00 a gallon since last winter.  I'll add more insulation and buy PV panels--with my own money.

by zenie on 01/25/2008 09:46:29 AM EST

Yeah, ESP dumb, but if you're getting it anyway... (none / 0)

...buy some CFL or LED bulbs, get some cloth grocery bags (or buy fabric and make some), get an oil change, buy a solar cell phone charger, a solar panel, a bicycle or something else that will save you money in the future. Also, stock up on staples for your pantry. $1200 of beans and rice will go a long way during the coming depression. Get some garden seeds.

We'll be putting our "gift" towards a pond based solar powered heat pump to cut our electric bill even further.

 Or a TYT membership for 100 of your closest friends.

by GariLynn on 01/25/2008 10:38:36 AM EST

Now that you mention it (none / 0)
that's part of what sucks about eating healthy: the food is so damn expensive!

That is to say, it's MUCH easier to find tasty, huge portions of junk food (or what is basically glorified junk food and or calorie dense food that's easy to overeat) than it is to find the healthy alternative.

Examples?  Nuts.  Almonds are an excellent source of monounsatured fats (good for your heart, muscles and fat loss) but my God, you see what a bag costs?  I'm talking fresh, not the roasted salted junk.


You can get a decent value on chicken breasts, but only the lower quality, hormone/antiobic filled stuff.  Don't get me wrong, I'm forced to eat it (not that I eat it that often) but still.


Chips, ice cream, donuts and tons of refined carb/hydrogenated fat laden pastas and convenient rice dishes are waiting for dirt cheap prices.  It's depressing that fresh vegetables, healthy meat and dairy (cottage cheese is a superfood nutritionally but it also pretty damn pricey, and I'm talking about the regular kind) are so expensive despite being staples.


And yes, I happen to know a good deal about nutrition in case you were wondering. The more you know, the more you realize just how much of what's available at your local grocer is just not good for you (unless the goal is to feel fat and tired most of the time).

by ihavenobias on 01/25/2008 11:14:24 AM EST

[ Parent ]
Eat well, spend well (none / 0)

Join a local natural/organic/health food coop with your windfall. Find local farmers who will sell directly to you. I buy organic eggs and poultry from Amish neighbors.

Make your neighbors wary--raise your own chickens, or guinea fowl, or pea fowl [peacocks are so awesome, your neighbors might forget that they're just very fancy loud chickens]. If your deed restrictions don't allow poultry, remember ducks aren't poultry, they're wildfowl and legal. Muscovy ducks are quiet; they don't quack, they hiss. They patrol your yard, weed your garden, and can fly to [sometimes] avoid dogs, foxes, wolves; their eggs are extra large. Geese are similar, smarter, better guards, but bigger, louder, and hurt more when they bite.

Eat locally, eat well. 

by zenie on 01/25/2008 12:09:51 PM EST

[ Parent ]
That might be difficult (none / 0)
living around a condo in Chicago.  :)

But I appreciate the suggestions.  Who knows, maybe the dog and cat wouldn't mind some chickens running around.

by ihavenobias on 01/25/2008 12:27:10 PM EST

[ Parent ]
join a CSA (none / 0)
CSA (Community Sponsored Agriculture) farms are a great way to get amazing organic vegetables much cheaper than your local store.  You pay a certain amount and get a box of veggies once a week.  If you live alone like me, think of sharing a box with a friend.


by desertpear on 01/25/2008 03:11:51 PM EST

[ Parent ]
a 40 Dog, couple of slizes of Za and some Hookers (none / 0)
As a protest to the war (war, occupation, potato, po-tat-o) I've given up driving (still mow the lawn, but that is about 20 gallons for the entire year, have a snow blower but I shovel instead) and I bike most anywhere I really need to get to (drive a few times a year, literally under 50 miles total, just because I really enjoy driving, I still have a valid driver's license, I'm stupid stooopid not crazy). I've also, ala Thoreau stopped paying my federal income tax nor filling out the form. On one level it is kind of silly, and I've consulted lawyers and tax attorneys and accountants on this, because ordinarily if anything I'd be entitled to money back, but I feel it is important as a statement.

On the other hand I'm of the extreme view that there are (very) occasionally just wars, and that during those times it is conceivable that only those who serve should have the right to vote. So that while I'm 100 percent opposed to this war for oil, I might even consider not voting in the general, not as a form of protest but as one of conscience none the less.

So I tend to piss everyone off. But oh well.

How un-American, thusly I don't plan to spend my rebate since I won't be getting one. It is an important distinction, and while I tend to agree with Paul Krugman and in many ways agree with his current assessment of Bush and even this plan, I in some small way disagree with him about the fairness of the plan.

Yes, I'm a spender, if you sent me the money as a check and it wasn't a rebate, I'd spend it in a few weeks, I love those little things they put at the check out, impulse buys they call them, I'm very frugal in some ways but I love the pure joy of shopping, I love the impulse buy.

And while this is in great measure what they are counting on, the impulse buyer who will spend the money, I disagree fundamentally with Krugman that it shouldn't be a tax rebate but instead a check. And I'm in the odd position of agreeing with Bush, even though it isn't in my favor.

Besides, I need to work on delayed gratification. Ideally though I think this is quite well timed with the move to HDTV in 2009. Big box realtors should get a boost from nascar dads, who might be worried about putting more debt on the cards and will instead splurge for the new thousand dollar 48 inch flat panel.

On the one hand, if you put the money in the hands of those who are going to spend it on the dollar menu at McDonald's, you know for a fact you're getting a boost. Where as if you put in the hands of men who are just as likely to put it at play in the market, spend it in Vegas, hide it under their pillow, or pay down the mortgage, you're, well, taking a gamble.

We've basically had 5 years of consumer driven spending driven by the American breadwinner taking equity out of their homes. Now the Big Cheese is doing the same, taking equity out of the White House so to speak, giving everyone a late Christmas bonus (that prolly won't be around until it is too late next Xmas but oh well, thought that counts). The only real problem with it, is, where is all this money coming from? Are we really going to limit the amount of spending on the military? Hell, Paul Wolfowitz is back in power (The Neo-Cons Strike Back) in an advisory role (arms control, what a laugher) and that means he's prolly got Rummy on speed dial. Which means that the federal debt will only grow quicker.

The reality is they've stopped even equivocating with misnomers like stimulating the economy to grow out of debt, switched to stimulating the economy to avoid recession, and now they've even given up the ghost with that one as they are trying to win the spin game by subtly rewriting that one as stimulating the economy but probably not avoiding recession. So then what the fuck are they doing.

Bush has one leg in yesterday (tax cuts) and one in tomorrow (legacy) and that means he's pissing all over today and about to get ass fucked (again). Good riddance to the cronyism and fake pretenses that have led us down this road to disaster.

Has sacrificing the youth of America's future been worth the 500 channels of high definition TV crap (half of which will be Fox or the like) we'll be entitled to pay through the nose for? How many of those big screen TV's will be made in China? 

by tiggerporn on 01/25/2008 10:57:39 PM EST

What check? (none / 0)

Check? I dont geet no stinken check...!

You guys go stimulate something with it. 

by MRFred on 01/26/2008 02:51:51 PM EST

How do you plan on spending your $600? | 43 comments (43 topical, 0 hidden)
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