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How Would The Economic Stimulus Package Affect You?
Posted by rodjpr • 4/03/09 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: economics, political views, stimulus package
Sometimes I tried to analyze how can the new stimulus economic package help me personally and I have yet not been able to come up with the answer. I know for a fact that the new stimulus package helps the Corporate America companies and big time insurance companies like AIG, but what happen to the people that were affected such as foreclosure, home less and others struggling to meet ends just to mention a few. Do you know how the new stimulus economic package helps you? Please share with us.
User Comments
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I doubt it was ever intended to help us, I do believe it was intended to help big business.
The government takes it back in taxes at the end of the year.
"The extend a hand but take it back" method has worked for them for centuries.
The reason why property taxes goes up is so that you and me will have to pay higher taxes come tax time. We are the servant, they are master for now. -
I believe all fiat money systems have ended with a complete devaluation of the currency's purchasing power (-95 per cent since 1913 for the us$), through inflation. Of course, the Federal Reserve is not going to let its main shareholding banks go under (along with the rest of the banking sector). But also, inflation is an invisible tax whereas households would not so easily accept a direct fiscal drain on their revenues.
As usual, savers and bondholders will be big losers. Those who have loans and are able to reimburse them (as inflation reduces the value of their payments) will come out ahead.-
The bottom line is very few winners in the household,
many winners in the business sector, corporations.
Get ready to pay at least half your taxes from income.
I wonder where the government will get the money when they reach 100% tax of the household and we cannot eat to stay alive. If we starve to death, they get nothing.
Maybe they will keep us alive with just enough money to eat and everything else is taxed. (Slavery). If we allow them to continue get ready to bend over. -
yeah, despite the republican whining for more tax cuts, it seems pretty much like voodoo economics to me.
Am I still allowed to say voodoo economics... the post racial world is so confusing...
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I dunno, I'm not political but you mention they wouldn't let the banks fail.
When Freddie Mac stock was .25 a share the google stock dicussion boards were full of people tooting the stock saying the gov wouldn't let it fail. I decided not to buy as I am ignorant and still believe the gov wants to take care of us.
They ended up bailing out Freddie, as I'm sure you heard.
Well now a few months later it's trading at .78 and I'm kicking myself for thinking the gov would let Freddie go under because it truely is a money pit.-
Codesucker,
Either they let the whole inverse house of cards topple down (the outsanding derivates totaled 10 times world GDP at the start of the crisis)or they continue pouring water in the leaking bathtub - where one counterparty failing would bring down the whole system - case in point AIG and its credit default swaps (one of its counterparties like JP Morgan has a derivatives portfolio of 7 trillion$, but they are a shareholder of the Fed).
The financial sector should be quite regulated from here on out. Probably not the best area to invest in long term.
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The winners will be the big banks and corporations. Over the past decades, financial capitalism has led to an increasingly greater concentration of the corporate sector - concentration of "power" in the hands of fewer and fewer...
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YES
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just like with the 'new deal'
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the big biss. get the help and we pay for it and if you are suffering the goverment could care less. the only time they will wory about us is when we can not give them money. all we are are their slave workers.-
Yup I totally agree, after all I basically said the same thing up above.
No doubt we are slowly being enslaved, they are doing it gradually but surely.
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Well, where I am presently residing I paid approiximately 38% of my income tax. Let me tell you from experience paying above 35% income tax is no walk in the park. I currently reside in Puerto Rico and planning to relocate back to the States after I retire within 10 years. Puerto Rico is extremely expensive and on top with the highest income tax in the United States. But going back to the stimulus package, I read that the majority states it is for Corporate America, but will a humble citizen benefit directly or indirectly? If yes, in which area you believe will they see relief?
Note, I am enjoying the answers that are being posted.
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