| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:12:50 PM | http://news.yahoo.com/s/nm/20080612/bs_nm/usa_economy1_dc
Well you won't be hearing this on the evening news or the 24/7 news networks. Heard this bit of news on the radio today and just had to do a search to believe my ears.. Note this is current political news dated 6/12/08. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:16:52 PM | And what happens NEXT year, when that money you spent today isn't there ? It's a rebate against future taxes paid - not a freebie.
And it's a temporary blip, perhaps just enough to make the economy look a little better - until the elections over.  | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:22:47 PM | From the article:
Economists, however, did not view the data as suggesting a fundamental shift in an otherwise weak spending trend.
The government said earlier this month that the economy shed jobs for a fifth straight month in May as the unemployment rate shot up to 5.5 percent from 5 percent in April.
A Labor Department report on Thursday showed more workers than expected signed up for unemployment aid last week, suggesting the job market was still weakening. Economists expect little improvement soon, particularly with a wave of planned auto plant shutdowns.
New applications for state jobless benefits jumped to 384,000 last week from 359,000 in the prior week, while the total number of unemployed on the benefit rolls in the week ended May 31 rose to 3.14 million, a four-year high.
Doesn't paint a very rosy picture does it? | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:29:52 PM | Yeah Glamour whatever makes you sleep at night better. This was nothing more than some hush money to the american public by Bush. It reminds me of when I used to work sales on straight commission and the employer would offer you a "draw" on future earnings to "help" you eat and pay bills . Same concept and guess what that employer wanted "paid back" when you were making money and things "got better".
Its a classic smoke screen by the administration to calm the american public down some from all the problems our country faces because of them. I just wish U as a die hard Bush Lover would just admit once that these guys have screwed up a few things. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:50:15 PM | | Ha.. funny Nash.. you can't exactly call it "hush money" although the increase in retail sales is being "hushed.. just try to bare with the middle class who are enjoying this gift cause we won't be seeing it under a Democrat Admin. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:52:29 PM |
Do you honestly think I like to see Americans suffer ? If you do, you are wrong No, I think you expect perfection from the Republicans.. yet your standards are much lower for Democrats. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:54:36 PM | | ^^^ This issue hardly lends itself to partisan bickering. Didn't the majority dem congress approve this "stimulus package"? Of course, it wouldn't have taken even a majority of the dems if all the reps voted in favor of it... | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 8:59:55 PM | | Glamour how many "gifts" do you give back on Christmas, just curious. Sounds like your definition and mine of a gift are different. Funny how I never hear you admit the republicans have done anything wrong. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:09:12 PM | | If it makes you feel better...I'm thinking of saving my "gift" because I might need it next year if Obama is elected and the Democrats still have control of the House and Senate.. cause you know they would raise taxes.. promises aren't free.. someone is going to pay.. that would be us. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:13:40 PM | | Right flyguy.. it shouldn't be partisan but it is... because it was Bush's idea... if he were a Democrat and retail sales were up he would be getting all kind of accolades..just goes to show how polarized political forums are. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:22:46 PM | Glamour I also find it funny how so many republicans are always complaining that the democrats always want to give handouts "gifts" yet when Bush does something like this its a welcomed "gift" and for some reason appreciated. The hypocricy is so laughable 
PS, Glamour can you please be my PR person because if you can defend Bush like you do you can defend anything | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:34:59 PM | Well, all I can say is, if it really is true that ignorance is bliss, then our 'glamorous' friend must be deliriously happy!
Really, anybody who thinks this bit of 'blankets and beads' is an actual 'gift' is seriously out to lunch. It is the most transparent of attempts to buy off the gullible public. Any perceived success of this 'stimulus' can be credited to a certain event which takes place at the rate of approximately once every sixty seconds.
(with apologies to P.T. Barnum... ) | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:39:57 PM | The Democrats like to give handouts alright.. they want to steal from the rich and middle class in the form of tax hikes and give to the poor so the poor really can't learn how to fend for themselves.
These gifts are not only benefiting the receivers but also the mom and pop stores who are struggling in this economy.. these gifts are not partisan.. Dems and Repubs alike are benefiting. So if you don't want to be happy for conservatives at least be happy for your fellow liberals. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:47:28 PM | | Glamour please show me some documented proof in numbers of democrats stealing from the middle class. I hope you got a chance to compare the numbers of Bush/McCain tax plans and what Obamas tax plan numbers look like. Obama holds the rich accountable from just how much they have profited under this administration and gives relief to the middle class. Do a thread search on each tax plan and check out the numbers. Its all there in black and white. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:58:50 PM | I did it for you Glamour.
feed://rss.cnn.com/rss/money_news_economy.rss
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close) By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: June 11, 2008: 3:59 PM EDT
BREAKING DOWN THE NUMBERS
Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.
Income/ McCain/ Obama
Over $2.9M / -$269,364/ +$701,885
$603K and up / -$45,361/ +$115,974
$227K-$603K/ -$7,871/ +$12
$161K-$227K / -$4,380/ -$2,789
$112K-$161K/ -$2,614/ -$2,204
$66K-$112K / -$1,009/ -$1,290
$38K-$66K/ -$319/ -$1,042
$19K-$38K / -$113/ -$892
Under $19K / -$19/ -$567
Source:The Tax Policy Center | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 9:59:29 PM | | Nash.. go to the Congressional records and see for yourself the historical tax raising Democrats.. McCain/Obama...I've learned that politicians blow alot of smoke.. make alot of promises so I pay no attention to campaign speeches. Obama or McCain will need a Congress that will give him what he wants or he will veto. Note that Bush has had trouble all year getting what he needs from a do nothing Congress.. note the Iraq/Afghan supplemental bill was full of pork additives from the Democrats.. Bush had a fit and threw it back to them. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 10:08:16 PM | A closer look
In addition to making the 2001 and 2003 tax cuts permanent, McCain says he would double the exemption for dependents, lower the corporate tax rate, make expensing rules more generous for small businesses and lessen the bite of the estate tax and Alternative Minimum tax.
The net result: compared with their tax bill today, taxpayers on average would see their tax bill cut by nearly $1,200. That means their after-tax income would rise by 2%.
But those in the lowest income groups would only see their after-tax income rise by less than 1% (or between $19 and $319). By contrast, the highest-income households - those with incomes of at least $603,000 - would see a boost in after-tax income of 3.4%, or more than $40,000.
Obama's plan would keep the 2001 and 2003 tax cuts in place for everyone except those making more than roughly $250,000, and he would increase the capital gains tax.
Obama would also introduce new tax breaks for lower and middle-income groups. Such breaks include expanding the earned income tax credit, giving those making less than $150,000 a $500 tax credit per person on the first $8,100 in income, giving those making under $75,000 a 50% federal match on the first $1,000 of savings, and exempting seniors making less than $50,000 from having to pay income tax.
Like McCain, Obama would lessen the bite of the estate tax and the Alternative Minimum Tax, but to a lesser degree.
The net result: compared with their tax bill today, taxpayers on average would see their tax bill cut by nearly $160 under Obama's plan. That means their after-tax income would rise by 0.3%.
But those in the lowest-income groups would enjoy the biggest after-tax income rise as a percentage of income - between 2.4% and 5.5% (worth between $567 and $1,042). By contrast, the highest-income households - those with at least $603,000 in income - would see a dramatic decline in their after-tax income - a drop of 8.7%, or $116,000.
The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama's could add as much as $3.3 trillion.
Theres the rest of the article, please tell me how this article sounds biased in any way. It cites the facts of each plan. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 10:12:14 PM | | Nash that's all based on speculation.. you know as well as I do that promises made during campaigns are rarely kept.. so basically the Tax Center has garnered publicity for themselves nothing more. And don't forget.. a President must have a Congress that he can work with. | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 10:12:41 PM |
Ha.. funny Nash.. you can't exactly call it "hush money"
... thats my term thank you and i'm ever amazed at how strong you are doing the backstoke in denial........
rebate check... how about a reality check..... | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 10:17:07 PM | | Glamour I absolutely agree with your points about congress playing a major factor. But don't forget about John McCain voting against those Bush tax cuts originally. What makes you so sure he won't flip flop and raise your taxes judging by his past behavior? | |
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| Strong retail sales boosted by rebate checks
Posted: 6/12/2008 10:19:36 PM | | Nash.. I've become so jadded by politicians I can't even answer your question about McCain.. politicians will "say anything" and I can only speculate as to what will really happen. | |
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