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How should we spend our stimulus refund checks?
With most tax payers getting about $600 from the government, what is the best way for us to spend that money to stimulate the economy? Obviously the point is to go spend it but what goods/services will have the biggest affect on the economy?
5 Answers
- Anonymous1 decade agoFavorite Answer
the best way to stimulate the economy is to stop giving businesses tax breaks unless they stop sending jobs overseas. we need to create jobs HERE. people need to start paying off their plastic and using ONLY their DEBIT CARDS. we need to start throwing in jail those business men and women who hire illegals. we need to start forcing hospitals to stop paying doctors hundreds of thousands of dollars while they pass on the cost to patients charging $400 for emergency room band aids. the best investment for $600 right now is to spend it buying as much silver as you can and selling it when it goes to $18 an ounce, to by a CD from your bank or leave it in your savings account. or use it to pay down some of your debt.
- Bostonian In MOLv 71 decade ago
It's all hot air right now as it hasn't passed yet. NOBODY gets ANYTHING until something passes. If Congress stays true to form the only thing that they'll pass is gas, so don't spend anything until it's in your hand.
Even at its most generous proposed levels it represents a tiny fraction of the entire US economy, much less than 1%. As such it won't have any impact at all and will barely be noticed on the economic radar screen.
The most likely beneficiary in the long run wil be China. The Chinese government will snap up the increased debt and a fair chunk of any of the "rebate" that is spent will be on cheap Chinese-made products.
The scorecard works out as China - 2, US - 0. You can even the score by putting the money in the bank towards a rainy day. If I get anything, THAT is where it will go.
- 1 decade ago
Bostonian answer is very clever one! I was just going to say that if the whole stimulus thing passes & I get anything!, I will definitely contribute to my Roth IRA. I'm almost sure that many folks will go to the stores such as "GREAT" Wal Mart & spend China made products thinking that they're helping to stimulate the US economy. That is a pity!
- oshellLv 45 years ago
The meeger volume being proposed as rebates will stimulate absoluteluy not something, as far because of the fact the financial equipment is going! the only element it is going to do is boost an particularly few retailers gross earnings for a pair of days. That helpful as hell isn't stimulating the financial equipment!
- kapnLv 71 decade ago
There are no rebates yet...this needs to go through congress and senate....if passed perhaps sometime in June....
Perhaps someone will get smart and extend the unemployment benefits and get the money out to where its needed....somehow I don't understand why someone with a 6 figure income need a refund?
If there is anything in my mail box it will go to reduce my Home Equity Loan.....Sorry I don't need anything.