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February 9, 2008 at 2:00 PM #150798February 9, 2008 at 2:12 PM #150445
drunkle
Participantben bernanke helped frame this rebate program with his thoughts on what people of differenct economic classes will do with the money. that is, the poor will spend it while the better off will save it.
frankly, $600 is still a pittance to anyone making more than 30k a year. it’ll buy you a couple months of beer, some new shoes and pants, just crap.
by funneling money to the poor, to people who have low or no income tax liability, you’re achieving two things. wealth transfer from the middle class to the rich and stimulus to the consumer economy. the stimulus part is obvious, the poor will mostly spend it on consumer goods and help prop sales. the funneling is the tricky part; the upper 80% pay for the lower 50% to go shopping. the money flows through the hands of the lower 50 and into the hands of the top 40 who own and sell crap. the working class get screwed, the middle service providers get screwed, the lower class get garbage and the upper class get their money back and then some.
February 9, 2008 at 2:12 PM #150703drunkle
Participantben bernanke helped frame this rebate program with his thoughts on what people of differenct economic classes will do with the money. that is, the poor will spend it while the better off will save it.
frankly, $600 is still a pittance to anyone making more than 30k a year. it’ll buy you a couple months of beer, some new shoes and pants, just crap.
by funneling money to the poor, to people who have low or no income tax liability, you’re achieving two things. wealth transfer from the middle class to the rich and stimulus to the consumer economy. the stimulus part is obvious, the poor will mostly spend it on consumer goods and help prop sales. the funneling is the tricky part; the upper 80% pay for the lower 50% to go shopping. the money flows through the hands of the lower 50 and into the hands of the top 40 who own and sell crap. the working class get screwed, the middle service providers get screwed, the lower class get garbage and the upper class get their money back and then some.
February 9, 2008 at 2:12 PM #150717drunkle
Participantben bernanke helped frame this rebate program with his thoughts on what people of differenct economic classes will do with the money. that is, the poor will spend it while the better off will save it.
frankly, $600 is still a pittance to anyone making more than 30k a year. it’ll buy you a couple months of beer, some new shoes and pants, just crap.
by funneling money to the poor, to people who have low or no income tax liability, you’re achieving two things. wealth transfer from the middle class to the rich and stimulus to the consumer economy. the stimulus part is obvious, the poor will mostly spend it on consumer goods and help prop sales. the funneling is the tricky part; the upper 80% pay for the lower 50% to go shopping. the money flows through the hands of the lower 50 and into the hands of the top 40 who own and sell crap. the working class get screwed, the middle service providers get screwed, the lower class get garbage and the upper class get their money back and then some.
February 9, 2008 at 2:12 PM #150731drunkle
Participantben bernanke helped frame this rebate program with his thoughts on what people of differenct economic classes will do with the money. that is, the poor will spend it while the better off will save it.
frankly, $600 is still a pittance to anyone making more than 30k a year. it’ll buy you a couple months of beer, some new shoes and pants, just crap.
by funneling money to the poor, to people who have low or no income tax liability, you’re achieving two things. wealth transfer from the middle class to the rich and stimulus to the consumer economy. the stimulus part is obvious, the poor will mostly spend it on consumer goods and help prop sales. the funneling is the tricky part; the upper 80% pay for the lower 50% to go shopping. the money flows through the hands of the lower 50 and into the hands of the top 40 who own and sell crap. the working class get screwed, the middle service providers get screwed, the lower class get garbage and the upper class get their money back and then some.
February 9, 2008 at 2:12 PM #150803drunkle
Participantben bernanke helped frame this rebate program with his thoughts on what people of differenct economic classes will do with the money. that is, the poor will spend it while the better off will save it.
frankly, $600 is still a pittance to anyone making more than 30k a year. it’ll buy you a couple months of beer, some new shoes and pants, just crap.
by funneling money to the poor, to people who have low or no income tax liability, you’re achieving two things. wealth transfer from the middle class to the rich and stimulus to the consumer economy. the stimulus part is obvious, the poor will mostly spend it on consumer goods and help prop sales. the funneling is the tricky part; the upper 80% pay for the lower 50% to go shopping. the money flows through the hands of the lower 50 and into the hands of the top 40 who own and sell crap. the working class get screwed, the middle service providers get screwed, the lower class get garbage and the upper class get their money back and then some.
February 9, 2008 at 4:32 PM #150485Anonymous
GuestHow handy to be able to split hairs and separate poverty into convenient “qualifying” categories and shrug it off as an answer. This is part of the reason the problem exists. Is there much difference between a family that earned a taxable income last year of $1000 and one that didn’t?
Do you think that you’re doing your part by yelling out your car window “get a job!!” to the homeless on the side of the road?
This rebate squander of tax dollars truly is a meaningless and mindless gesture in that it does nothing more than to put more money into the cash registers of those who hardly need it. In that sense the rebate is nothing more than just another kick in the face to the poor. A theatrical display.
If it were really well intended, that money would be better spent on preventative programs, new, or existing.
February 9, 2008 at 4:32 PM #150743Anonymous
GuestHow handy to be able to split hairs and separate poverty into convenient “qualifying” categories and shrug it off as an answer. This is part of the reason the problem exists. Is there much difference between a family that earned a taxable income last year of $1000 and one that didn’t?
Do you think that you’re doing your part by yelling out your car window “get a job!!” to the homeless on the side of the road?
This rebate squander of tax dollars truly is a meaningless and mindless gesture in that it does nothing more than to put more money into the cash registers of those who hardly need it. In that sense the rebate is nothing more than just another kick in the face to the poor. A theatrical display.
If it were really well intended, that money would be better spent on preventative programs, new, or existing.
February 9, 2008 at 4:32 PM #150757Anonymous
GuestHow handy to be able to split hairs and separate poverty into convenient “qualifying” categories and shrug it off as an answer. This is part of the reason the problem exists. Is there much difference between a family that earned a taxable income last year of $1000 and one that didn’t?
Do you think that you’re doing your part by yelling out your car window “get a job!!” to the homeless on the side of the road?
This rebate squander of tax dollars truly is a meaningless and mindless gesture in that it does nothing more than to put more money into the cash registers of those who hardly need it. In that sense the rebate is nothing more than just another kick in the face to the poor. A theatrical display.
If it were really well intended, that money would be better spent on preventative programs, new, or existing.
February 9, 2008 at 4:32 PM #150771Anonymous
GuestHow handy to be able to split hairs and separate poverty into convenient “qualifying” categories and shrug it off as an answer. This is part of the reason the problem exists. Is there much difference between a family that earned a taxable income last year of $1000 and one that didn’t?
Do you think that you’re doing your part by yelling out your car window “get a job!!” to the homeless on the side of the road?
This rebate squander of tax dollars truly is a meaningless and mindless gesture in that it does nothing more than to put more money into the cash registers of those who hardly need it. In that sense the rebate is nothing more than just another kick in the face to the poor. A theatrical display.
If it were really well intended, that money would be better spent on preventative programs, new, or existing.
February 9, 2008 at 4:32 PM #150843Anonymous
GuestHow handy to be able to split hairs and separate poverty into convenient “qualifying” categories and shrug it off as an answer. This is part of the reason the problem exists. Is there much difference between a family that earned a taxable income last year of $1000 and one that didn’t?
Do you think that you’re doing your part by yelling out your car window “get a job!!” to the homeless on the side of the road?
This rebate squander of tax dollars truly is a meaningless and mindless gesture in that it does nothing more than to put more money into the cash registers of those who hardly need it. In that sense the rebate is nothing more than just another kick in the face to the poor. A theatrical display.
If it were really well intended, that money would be better spent on preventative programs, new, or existing.
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