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The economic stimulus package I see mentioned most often in the media is a tax rebate amounting to $800 for single filers and $1600 for joint filers. It's up for debate still who would be eligible, particularly whether or not you'd get it if your income was low enough you didn't pay $800 in taxes this year. But for the purposes of this thread, let's assume that you get the money.
Do you splurge on something you wouldn't have bought otherwise? Pay off bills or old debt? Put it in the stock market while it's nice and low? (Apparently we're supposed to spend it on stuff to get it cycling through the economy again. But if we do, how much of the stuff we buy is even made in America anymore?)
For my answer: Part of an $800 rebate would go toward paying off a debt to my father (so that part stays in the local economy I guess). Part of it would go into my Roth IRA, assuming the market is still low by the time we get the checks. For actual consumer spending, normally I'd be getting new videogames but I'm still playing the ones I got for christmas so probably not. I might by a new endtable or some nicer shelves, though. Does taking $200 to play Blackjack count as stimulating the economy? I could do that.
How about you? What exciting or stimulating things would you be spending an extra tax rebate on?
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A vacation. We do not have a vacation in the budget for this year. It would be nice to take one.
Posts: 1766 | Registered: Feb 2006
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Most would go into the travel stash. Some might go for home improvement - new towels and bookshelves and lamps.
Posts: 11187 | Registered: Sep 2005
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You know, someone was asking what I'd spend a $25,000 prize on last year, and I just kind of shrugged. I think my imagination's broke or something. Though it did occur to me today to tell my kids that when our house is paid off, we'll go to Disney something or other. I only thought of this because two families in the carpool went to Disney this week, and I was thinking of what to say if the inevitable question gets asked. Sadly, it has not been. My kids are already dead in their little consumerist hearts.
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Either into savings where it will earn interest, or to finish the unfinished bathroom downstairs.
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I likely won't be getting anything back, unless the Democrats win and they do it by who pays social security and not income taxes the way the Republicans want.
But for the purposes of debate...$500 would go into savings right off the top, I don't know specifically what I'd use it towards, I might pay part of my school loan and I might just leave it there for any future trip I might want to take.
The other $300 I might just splurge with. There're some cds, books and seasons of TV that I want, but, likely it too will just sit in the bank. My mom raised me to feel somewhat guilty when splurging with money that I know should really go into savings, so, I might go a LITTLE nuts, but, mostly it'll go into savings if I get anything.
Posts: 21898 | Registered: Nov 2004
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I've always liked to use bonuses like that partially for things I wouldn't otherwise buy and partially for investment.
$800 isn't really enough for me to split up, so I'd probably blow it on [electronic toy/plane ticket] with the understanding that I would put my tax return straight into my IRA.
Posts: 5462 | Registered: Apr 2005
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I should be getting back close to that amount this year.
Most of it will be used to pay off my credit card. I might treat myself with $100 shopping day. The rest goes into a savings account to help build my security blanket when I move in a few months.
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Donate it to the Ron Paul campaign so that I don't have to wonder whether the government will be so kind as to return to me a tiny fraction of the money I earned.
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Split between paying off credit cards, savings... and perhaps a book or two. Or some shelves to put books on -- I'm running low on those.
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I'd blow it all in a day, wake up in a ditch by the side of the freeway wearing someone else's pants, and I wouldn't remember a thing (thank God).
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Disney. Definitely I've been wanting to take the kids for years and now the younger one is finally old enough and mentally capable of dealing with the larger rides.
Posts: 4515 | Registered: Jul 2004
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RENT!!!! If I'm still even in this apartment! If I haven't been evicted first!
But, if I didn't have to spend it on rent, I'd save a chunk of it and spend the rest SEEING DIR EN GREY a lot.
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...Trying to elect someone who doesn't think the best thing to do in the face of massive deficits and a declining economy is to buy votes?...
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I'd really like to get a coffee table and maybe a lamp or two for my living room.
Whatever's left from that, I'd split in two: some into the bank, the rest into my "I really want an XBOX 360" fund.
Posts: 3932 | Registered: Sep 1999
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My Mom sort of lost her mind (in a good way) and decided that she was quitting her job and going down to Mexico to stay with my Aunt, who works for the Embassy, and my Uncle, who runs some robotics company. She'll be there for 6 weeks... going to school to touch up on her Spanish and volunteer at an orphanage. She's going to figure out what she's doing after that when she gets back.
She makes me feel like my deciding to stop working and going back to school is so self-serving... GAH!
Anyway... with the 800 bucks I'd probably spring for a trip down to see her and hang out with the fam for a while... I'd probably opt for a return flight through NoCal to visit my greatest friend from growing up, who just had her second baby...
Whatever was left would go to the bank - and sit there until I needed a slush fund type thang...
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A sidenote on the few comments that people would spend it supporting a political candidate: That would probably keep the $800 in the US economy longer than most physical things we could buy. It goes to the campaign, the campaign spends it on tv advertising, the network spends it on tv shows, etc. On the other hand, if someone buys a new TV or a Wii, the local retailer gets a little and most the rest goes overseas.
I'm also kind of curious what kind of effect paying off credit cards has on consumer spending. If your credit card is paid up are you more likely to buy more things on credit? I imagine some economist somewhere has probably done a study.
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Half into my savings account. The other half, maybe a new iPod touch and enough left over to take a young lady out for some good sushi.
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I'm going to add yet another vote for paying off/down credit cards or making an extra-large car payment that month....
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I'd save it for a Wii and Rock Band for the Wii when it comes out. We played it the other day on my friend's 360 and it's easily the greatest game ever.
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quote:Originally posted by Goody Scrivener: Disney. Definitely I've been wanting to take the kids for years and now the younger one is finally old enough and mentally capable of dealing with the larger rides.
Can you really go to Disney World/Land on that amount? Or do you live close enough that travel/lodging wouldn't be an issue?
Posts: 2069 | Registered: May 2001
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Fix my kitchen sink, replace the rotting wood around the flower beds and go out for a nice meal.
If you don't pay SS and don't make enough to owe that much in taxes (20k), then would you get anything on either party's plan?
Posts: 1001 | Registered: Mar 2006
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quote:Originally posted by Goody Scrivener: Disney. Definitely I've been wanting to take the kids for years and now the younger one is finally old enough and mentally capable of dealing with the larger rides.
Can you really go to Disney World/Land on that amount? Or do you live close enough that travel/lodging wouldn't be an issue?
I've got friends in the area that I can stay with.
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I'd probably use it to pay (or help pay) for Worldcon. Not the wisest choice, I know, but I really want to go.
Posts: 16059 | Registered: Aug 2000
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Put it towards a second car/truck for us. Not brand new, but new to us anyway.
Goody, let us know if that is what you do. I live about 1 1/2 hour from there, and there is a fairly active Hatrack clump in the Kissimmee area as well, and most of us like Disney. Posts: 15082 | Registered: Jul 2001
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quote:Originally posted by ketchupqueen: Probably I'd spend it on the same stuff we're spending our $4500 tax refund on.
Hands up who's married to a tax accountant...
As for spends - I'm the king of spendthrift. $800 would buy me a nice octave mandolin and a three star meal for Mrs_Maven and me here: Restaurant Akelarre - DonostiaPosts: 892 | Registered: Oct 2006
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I'm rather annoyed by the whole rebate proposal. At this stage, I think I'd use it to buy precious metals or foreign currency.
Posts: 37449 | Registered: May 1999
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