Money is debt; so what happens when my rebate check goes towards credit cards?? :)

[Nanerbeet]

When my wife and I get a $1,200 rebate check from this so-called stimulus package, we're going to apply it to our credit cards... Wouldn't this actually cause less money to be in existance or was the money already conjured out of thin air because the government borrowed it? Are we essentially transferring consumer debt into government debt?


May I just say I fucking hate this administration...

 

[Arklatex]

Yes, if you take that rebate and hand it over to visa, captialone, mastercard, BOA, you're being the model citizen for this administration.

 

[Dorfsmith]

When my wife and I get a $1,200 rebate check from this so-called stimulus package, we're going to apply it to our credit cards... Wouldn't this actually cause less money to be in existance or was the money already conjured out of thin air because the government borrowed it? Are we essentially transferring consumer debt into government debt?


May I just say I fucking hate this administration...

Whatever my wife and I get back will go toward paying off bills. There's probably enough crazy people out there that will buy a new TV or something. Crazy Americans

 

[loupeznik]

You shore up the banks, which is probably what they want. It is the banking sector that started all this.

Personally I think the banks ought to pay for their bad investments...

 

[zabideen]

only one way to use it CORRECTLY!

DONATE it to FREEDOM!

 

[Goldwater Conservative]

Are we essentially transferring consumer debt into government debt?

Yes, although it's more accurate to say that we're converting consumer debt into taxpayer debt, and in a country where it's impossible to escape taxation, that means there's almost total overlap between the two groups.

 

[Cowlesy]

I love how they're also issuing rebate checks to people who didn't pay any taxes this year with real low brackets, but not to anyone over $75k/single-$150k/couple.

Thank you Robin Hood gov't.

 

[Jae0]

If i get any money, its going to go into savings. And sit there.

 

[Grandson of Liberty]

I love how they're also issuing rebate checks to people who didn't pay any taxes this year with real low brackets, but not to anyone over $75k/single-$150k/couple.

Thank you Robin Hood gov't.

Bingo. I looked up today's "stimulus package" in the dictionary. All it said was, "SEE: Socialism."

 

[werdd]

what happens when 10% of the money gets flooded into the black market for drugs.

 

[Michigan11]

Hey take any rebate money and hold on to it. Seriously, if it doesn't work to shore up the economy, they will issue more...hahahahahaha

 

[Jae0]

What gets me is, and I hope I dont get flamed for this...

A lot of people I know that qualify for the rebate, are also on Welfare. They're already getting a free ride from the government, why give them more handouts? Just wondering. Unless theres some special rule excluding them that I havent heard about.

 

[Airborn]

>n/m<

 

[ghemminger]

Defaul on all debt and buy gold and silver and at the same tim leach ever ounce of entitlement sfrom the govenrment

 

[deedles]

donate to DRP and buy precious metals!

 

[Eric21ND]

What's going to happen when allt he Ron Paul people donate their Federal Reserve rebate notes to the Ron Paul campaign?

 

[Jae0]

What's going to happen when allt he Ron Paul people donate their Federal Reserve rebate notes to the Ron Paul campaign?

The governments heads will explode.

 

[lvp1138]

When my wife and I get a $1,200 rebate check from this so-called stimulus package, we're going to apply it to our credit cards... Wouldn't this actually cause less money to be in existance or was the money already conjured out of thin air because the government borrowed it? Are we essentially transferring consumer debt into government debt?


May I just say I fucking hate this administration...

No! Don't pay debt with more debt! That will cause a rupture in the space/time continuum!

Luckily, the explosion may be limited to just our own galaxy.

 

[luvfreedom]

I love how they're also issuing rebate checks to people who didn't pay any taxes this year with real low brackets, but not to anyone over $75k/single-$150k/couple.

Thank you Robin Hood gov't.

Those of us that don't make much money have to pay taxes too. My husband and I make about 60k a year combined. We pay about 6k in taxes. Try living off that in Austin, Tx. Even if we don't pay as much as some people in taxes, we are still having a hard time. Of course I agree that people who didn't pay any taxes should not get a refund but don't lump us all together.

 

[Ozwest]

I am self sufficient and have never owned credit cards. I like to pay for things in cash. Makes me feel good.

Did have to take out a mortgage. That's paid off.

My accountant encouraged me to take out loans based on projections.

I didn't.

If I wanted another truck, or loader, I waited till I could put the "cash on the barrell."

Good way to run a business, and your employees feel more secure when the Boss isn't putting the business into hock.

I'm happy, and debt free.