Stimulus Bill

[alison]

Re: Stimulus Bill

Thanks for the clarification. Yeah, it's not just money in the pocket. There are some strings attached. I'm sure we'll pay it (and more) back next year.

I think they were also thinking of an expiration date on the debit cards.

[peggyfromwastate]

Re: Stimulus Bill

I hate using debit cards.

My suspicion is that most people will spend this money. Seriously. The savings rate is so low in the general population, and even though people in the news stories say that they will "save it", I just doubt it. There are going to be big retail sales to go along with the rebates, etc., etc. Since it will feel like "free money" to most people, I think most people will spend it. If it's a debit card, then I'll just use it instead of CC and keep the rest of my money to pay off something, so I say. Or else I'll use the debit card to buy plane tickets for the summer sojourn back to washington state.

As far as stimulating the economy. Puh Leeze. I would be all for this rebate and any other one if it were accompanied by massive cuts in spending and permanent tax cuts, but this budget this year is huge. Huge huge huge. And all this rebate is paid for by increasing the national debt, which makes me sort of :huh: . I think all this massive spending is going to come back and bite my kids in the rear big time.

Re: Stimulus Bill

I just think the threshold for "wealthy" needs to be re-evaluated. Six figures used to mean you were totally set -- now it's middle class. Yet we still make too much money to take all deductions for our kids, for dh's school loan interest, etc.

I don't think the rebates will do much of anything for the economy -- it didn't last time. We won't get one -- but if we were still in residency I sure would have been excited to receive $1200.

[Flynn]

Re: Stimulus Bill

I just think the threshold for "wealthy" needs to be re-evaluated. Six figures used to mean you were totally set -- now it's middle class. Yet we still make too much money to take all deductions for our kids, for dh's school loan interest, etc.

I couldn't agree more. Six figures DOES NOT MEAN YOU ARE RICH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I also think that how you obtained the six figure salary should be taken into consideration -- ie for us it was 13 years post bachelors degree.

There is a big difference between someone who got their MBA and is "consulting" at an unreal dollar amount for corporate america since they were 26 or 27 -- and us, DH got his first real job at 36.

My friends' huband (who is extremely bright and talented -- not a slimy guy at all) "consults" and only has two years post his four year degree. He works about 14 days a month and makes well over 500,000 a year. He's been making this since he was 29. They are rolling in money.

A doc's life isn't LIKE this unless you invent something or sell out to drug companies!!!! DH makes a lot of money. We are fortunate beyond words!!!! Don't tax us like my friend's DH. It's so unbalanced!!!

Okay, I'm off my soapbox. Sorry for the hijack.

Re: Stimulus Bill

I also think that how you obtained the six figure salary should be taken into consideration -- ie for us it was 13 years post bachelors degree.
There is a big difference between someone who got their MBA and is "consulting" at an unreal dollar amount for corporate america since they were 26 or 27 -- and us, DH got his first real job at 36.

My Dh finished training at 27, he works 14-15 shifts a month and we are in the top tax bracket....because of this, we should be paying more taxes?

Re: Stimulus Bill

My Dh finished training at 27, he works 14-15 shifts a month and we are in the top tax bracket....because of this, we should be paying more taxes?

The more pertinent questioni, IMO, is HOW DID YOUR DH FINISH TRAINING AT 27???????????????????????????

As to the other point, I think Flynn was speaking in reference to the debt taken on and the money postponed in order to gain that wealth. Med school, plus living on $30-40K over a 6 (or 9 in her case) training period is a huge dent in earning potential, net gain, or retirement savings. If someone starts out of the gate making the big bucks, they are a whole lot more "set" then people who have to pay off a mortgage worth of education.

As for the "highest tax bracket" - I don't think there is a practicing doctor out there who isn't in it. The threshold is so low! There are lots of computer nerds, marketing managers, etc. who make enough to bump to the "highest bracket".

[Flynn]

Re: Stimulus Bill

As to the other point, I think Flynn was speaking in reference to the debt taken on and the money postponed in order to gain that wealth. Med school, plus living on $30-40K over a 6 (or 9 in her case) training period is a huge dent in earning potential, net gain, or retirement savings. If someone starts out of the gate making the big bucks, they are a whole lot more "set" then people who have to pay off a mortgage worth of education.

Well said Jane.

Our "wealth" came later but so did saving for retirement, college savings plans for our kids, and paying off loans. Our loans have GROWN considerably due to interest.

The irony is when I say debt, I mean STRICTLY school loans defered and ONLY DH's. I came into this marriage with a substantial bank account and NO debt. We were lucky to have NO living expenses as debt during training (DH had some in med school however he lived of 12 grand a year that's for EVERYTHING bug tuition) -- and STILL we have six figures plus of debt.

Training for a long time gets you coming and going. Was it our choice? Absolutely -- but to put us in the top tax bracket when we've made this money for less than two years, DH is 36, AND our retirement isn't close to what someone's should be at 36 -- is just plain wrong.

[Flynn]

Re: Stimulus Bill

As for the "highest tax bracket" - I don't think there is a practicing doctor out there who isn't in it. The threshold is so low! There are lots of computer nerds, marketing managers, etc. who make enough to bump to the "highest bracket".

And yet people continue to vote democrat. If you're (not you Jane, people in general) are going to complain about taxes then maybe you should do your complaining in the voting booth. Both Hillary and Obama will increase your taxes and remove the tax cuts that are already in place. They're coming after your money people because to them you work for the government, not for yourself.

I think the definition for "weath" (as Jane put it) should be revamped in our country. I would argue the majority of people in the country think that making six figures is a big deal. That's not a Democratic or Republican definition, it's a perspective this country seems to have.

I vote Democrat because I refuse to vote with my checkbook. I vote due to my values, beliefs, and what lets me sleep at night. If that means I pay more in taxes due to a silly definition of "wealth" so be it. I'm okay with that. Will I complain a bit? Absolutely. It's just one more aspect of medical life that makes no sense.

[Vanquisher]

Re: Stimulus Bill

Yes, wealthy needs to be redefined. Clearly 100K is not wealthy. You should always get to deduct children and student loan interest, but paying the lions share of taxes is fine. It bugs me to no end when my FIL complains about his tax bill that is higher than our annual salary. Boo friggin' hoo. You're making a lot of money. You are living well. You can do whatever you want.

You will never make less money by making more money. You will always make more, the percentage of that money that goes to taxes may change, but I'm not crying a huge bucket of tears for anyone making 300K and shelling out boucoup bucks for taxes.

And if republicans didn't spend all that tax money on stupid wars we have no business in and on tax cuts for people who don't need them, maybe we could stimulate the economy by helping out the little guy. A $1200 bandaid isn't going to do it. Health care reform...that's part of it.

So, when we start making money, will I become a republican? No, and hell no. I know what it is like to be poor, and I have lived it. Plus the idea of trashing embryos and throwing them in incinerators as opposed to using them for stem cell research is lunacy to me. Dictating whether a homosexual couple can get married is horrific. Trying to take away abortion rights is criminal.

I seem to remember things being a lot nicer when Clinton was in office, but oh, he got a BJ in the oval office, so that makes him the worst Prez ever, I forgot.

[Flynn]

Re: Stimulus Bill

I think the definition for "weath" (as Jane put it) should be revamped in our country. I would argue the majority of people in the country think that making six figures is a big deal. That's not a Democratic or Republican definition, it's a perspective this country seems to have.

I vote Democrat because I refuse to vote with my checkbook. I vote due to my values, beliefs, and what lets me sleep at night. If that means I pay more in taxes due to a silly definition of "wealth" so be it. I'm okay with that. Will I complain a bit? Absolutely. It's just one more aspect of medical life that makes no sense.

I'm not clear on why taxes are something you will continue to complain about when you know your vote will lead to higher taxes. That doesn't follow. :huh: I believe it is immoral to TAKE hard earned money of the American people and waste it in the government. Watching the government steal my family's money for another "program" is what keeps me up at night.

But see this is where we fundamentally disagree. I think that "giving back" is my responsibility -- my duty. Sure, some government programs don't work and the money is wasted. I'd rather have programs that "barely" help people in place (some are SURELY helped) than do nothing to help my fellow man. My money is wasted in some programs because people are not perfect.

I do NOT vote with my checkbook. There are bigger issues to me. Yes I will complain because our situation is somewhat unique and I think there should be some thought put into the definition of weath. But, money is not a top 5 issue to me, it's a top ten issue.

The government isn't "stealing" your money. It's making you contribute to your quality of life. You don't like it? Move.

[Flynn]

Re: Stimulus Bill

I'm not clear on why taxes are something you will continue to complain about when you know your vote will lead to higher taxes. That doesn't follow. :huh: I believe it is immoral to TAKE hard earned money of the American people and waste it in the government. Watching the government steal my family's money for another "program" is what keeps me up at night.

Yeah and this was respectful.

I'm out.

Let's go back to the Stimulas Bill.

[alison]

Re: Stimulus Bill

Stop, STOP, STOP!

Here's to the :adminpower: that I don't have, but I declare this thread: CLOSED!

Re: Stimulus Bill

Back to the stimulus bill...

[JaneDoe]

Re: Stimulus Bill

That doesn't follow. :huh: I believe it is immoral to TAKE hard earned money of the American people and waste it in the government. Watching the government steal my family's money for another "program" is what keeps me up at night.

I really don't understand this thinking. Paying taxes is essential to living in a civilzed society. Do you like having roads to drive on? A military to defend us (or more recently to go on the offensive ? Bridges to cross rivers? Schools to educate your kids? Salary for your Dh's residency program (medicare)? The list goes on and on and the "programs" aren't just ones that "other" people use.

How in the world is the government stealing your money to provide essential infrastructure and programs for the good of every citizen, including you? Other peoples hard earned income is, in part, paying your Dh's salary. It is a part of living in a civilized society. If you truly care about how the feds spend our hard earned income, I recommend that you start taking issue with the military. That "program" sucks up the majority of our hard earned income.

Back to the stimulus bill . . . I agree with the others who said that it won't stimulate the economy. I especially agree with Heidi, who said that the govt. would be more effective in improving the economy if it focused its efforts on other problems like health care.

[madeintaiwan]

Re: Stimulus Bill

That doesn't follow. :huh: I believe it is immoral to TAKE hard earned money of the American people and waste it in the government. Watching the government steal my family's money for another "program" is what keeps me up at night.

I really don't understand this thinking. Paying taxes is essential to living in a civilzed society. Do you like having roads to drive on? A military to defend us (or more recently to go on the offensive ? Bridges to cross rivers? Schools to educate your kids? Salary for your Dh's residency program (medicare)? The list goes on and on and the "programs" aren't just ones that "other" people use.

How in the world is the government stealing your money to provide essential infrastructure and programs for the good of every citizen, including you? Other peoples hard earned income is, in part, paying your Dh's salary. It is a part of living in a civilized society. If you truly care about how the feds spend our hard earned income, I recommend that you start taking issue with the military. That "program" sucks up the majority of our hard earned income.

Now back to the stimulus bill.....