Comments on: Stories of where US stimulus checks are going

Stories of where US stimulus checks are going

ThePinkSuperhero — Sat, 31 May 2008 17:35:38 -0800

HowISpentMyStimulus.com In January, Congress approved $152 billion in economic stimulus checks for millions of American households, intended to boost the economy and avert a recession. Just how this money will be spent remains to be seen. We hope this website helps shed some light on where the stimulus money is going.

By: ThePinkSuperhero

ThePinkSuperhero — Sat, 31 May 2008 17:39:42 -0800

Via NYTimes article

By: lysdexic

lysdexic — Sat, 31 May 2008 17:45:34 -0800

Since I was expecting it in May, and might get it in June, mine will be going toward late fees.

By: localhuman

localhuman — Sat, 31 May 2008 17:48:16 -0800

this one seems to sum it up correctly...

By: bardic

bardic — Sat, 31 May 2008 17:55:06 -0800

I'd rather have bread and circuses myself.

By: Balisong

Balisong — Sat, 31 May 2008 18:05:16 -0800

I spent mine on current bills, since I didn't have enough to cover them last month. I would have liked to spend it on my personal debt. Money I spent long ago.

By: delmoi

delmoi — Sat, 31 May 2008 18:07:53 -0800

I owed taxes, but I was very specific to use direct-withdrawal to pay my taxes this year so I could get my $600 direct deposited. But what happened? It turns out the IRS wouldn't use direct withdrawal account details to deposit the check, of course I only found that after I read through the details after not getting my check by the deadline. It really pissed me off since I made such a big effort to try to make sure the information was there. I don't even think I had the option of putting in separate direct deposit details. On the other hand, a friend of mine would be getting hers by July according to the schedule, but she actually already had her check mailed a couple weeks ago!

By: six-or-six-thirty

six-or-six-thirty — Sat, 31 May 2008 18:10:22 -0800

I can't help how many people are going to be writing in with stories about hookers and coke.

By: ThePinkSuperhero

ThePinkSuperhero — Sat, 31 May 2008 18:13:51 -0800

Ha, ok, this one is my favorite.

By: Slack-a-gogo

Slack-a-gogo — Sat, 31 May 2008 18:15:35 -0800

I would have loved to put some of that money into the economy with something fun, but like a lot of people, our check just went toward bills. yippee. I like this one - especially the heading.

By: Slack-a-gogo

Slack-a-gogo — Sat, 31 May 2008 18:17:27 -0800

TPS - that one just kills!!!

By: Forktine

Forktine — Sat, 31 May 2008 18:18:45 -0800

The Bush Dyson is great. I'll believe the stimulus check when I see it -- they keep having these things, and I keep not being eligible, so I'm not getting my hopes up until I have that check in my grubby little fingers.

By: ThePinkSuperhero

ThePinkSuperhero — Sat, 31 May 2008 18:20:00 -0800

Heh, this one made me LOL.

By: greenie2600

greenie2600 — Sat, 31 May 2008 18:22:04 -0800

I bought a snake, and $150 in snake paraphernalia.

By: jonmc

jonmc — Sat, 31 May 2008 18:22:22 -0800

I'll spend mine on drugs, like usual.

By: TheOnlyCoolTim

TheOnlyCoolTim — Sat, 31 May 2008 18:22:28 -0800

I can't help how many people are going to be writing in with stories about hookers and coke. I too am quite curious as to how great a subsidy this is to the drug dealers and prostitutes of America. Here's some: http://www.howispentmystimulus.com/posts/view/334 http://www.howispentmystimulus.com/posts/view/363 And if we make assumptions based on the Bob Marley poster in the back this unlucky gentleman is using his to deal with the potential unfortunate results of such purchases.

By: computech_apolloniajames

computech_apolloniajames — Sat, 31 May 2008 18:24:58 -0800

Still waiting on mine.

By: hellojed

hellojed — Sat, 31 May 2008 18:32:09 -0800

French Wine, $600 worth of it, and maybe a beret if there's some money left over.

By: TheOnlyCoolTim

TheOnlyCoolTim — Sat, 31 May 2008 18:32:41 -0800

I also expect that this will turn out to have negligible effect on the economy, not that we'll hear anywhere near as much about that as we heard about how the government was taking action with a bold economic stimulus plan (that buys everyone off.)

By: D.C.

D.C. — Sat, 31 May 2008 18:34:02 -0800

Mine more-or-less will cover a month's condo fee and utility bills.

By: sotonohito

sotonohito — Sat, 31 May 2008 18:34:36 -0800

I'll be using mine to pay the deductable for my auto insurance. Got hit by a person with a forged insurance card six frickin' months ago and haven't been able to raise the funds for the deductable all that time. What I wanna know is how this deductable BS got so universally accepted? I mean what's the point of insurance if it won't pay to fix the damn car? Oh well, I guess the check is going straight into the local economy, I'll give it to a bodyshop. As far as the stimulus checks themselves go, did anyone ever play Tropico? Its a sim type game in which you play the dictator of a tiny tropical island. One of the things you can do when you have to hold elections is send out "stimulus funds" to the islanders in an effort to buy their votes....

By: unknowncommand

unknowncommand — Sat, 31 May 2008 18:36:46 -0800

My friend, in efforts to thwart the whole goddamned thing, spent his on Planned Parenthood and weed. I thought that noble.

By: Mr. President Dr. Steve Elvis America

Mr. President Dr. Steve Elvis America — Sat, 31 May 2008 18:42:34 -0800

I'm moving soon, so I'm going to use it to pay moving expenses.

By: the dief

the dief — Sat, 31 May 2008 18:43:09 -0800

I'm taking it to Canada. Take that, suckers! I'm stimulating the wrong economy!

By: Gucky

Gucky — Sat, 31 May 2008 18:43:58 -0800

That's the most depressing thing I saw on the internet this month. But strangely, made me feel better about not getting a magic money "Santa Claus will defeat inflation/recession" check.

By: netbros

netbros — Sat, 31 May 2008 18:49:31 -0800

Sending mine right back to the IRS for 2nd quarter estimated.

By: ThePinkSuperhero

ThePinkSuperhero — Sat, 31 May 2008 18:51:25 -0800

That's the most depressing thing I saw on the internet this month. I know, as I continued reading, the panic and fear kept building. Look at all these people wasting all this money! Or people who desperately need the money just to get by! I need to save more money! No more spending money, starting right now! Rice and beans for the rest of my life!

By: mike3k

mike3k — Sat, 31 May 2008 19:10:51 -0800

I got a whopping $160, which I just kept in my savings account. The government can just keep their stimulus checks and shove it up their collective asses.

By: silkygreenbelly

silkygreenbelly — Sat, 31 May 2008 19:11:41 -0800

My parents helped pay for my wisdom teeth to come out. So the money went straight to them.

By: Windigo

Windigo — Sat, 31 May 2008 19:24:17 -0800

I am going to Paris in a week. My first trip to Europe. That money is all being spent overseas. Yay!

By: synaesthetichaze

synaesthetichaze — Sat, 31 May 2008 19:35:52 -0800

I got $600 and saved it, along with my tax returns. I really can't believe the useless crap some people wasted theirs on, however... like, say, the one at the top of the page now: "Bought season tickets, way up in the upper bowl, to the Carolina Panthers for my husband and I!!!! Now we will use the rest to pay for the gas to get to Charlotte for EVERY HOME GAME THIS YEAR!!!!!!! So excited for August!" Shannon, 27, Nurse Raleigh, NC There are many things wrong with this, but off the top of my head 1: you bought fucking terrible tickets and 2: you live 170 miles from the stadium. Gas is already 4 bucks a gallon, it's probably going to be more like 4.50 or 5.00 by the end of the summer... is this really a good idea? How much more expensive is everything else going to be by then? Then there's this guy: "I bought all 5 of my kids season passes to Kings Dominion, reserved a campsite for a couple of days while on vacation,put gas in the mini van, and bought some groceries. Needless to say the groceries are all gone and so is the gas. Now we're struggling all over again. Yes, the money was nice for a few days, but it doesn't last long enough to make a difference." THAT'S BECAUSE YOU FUCKIN SPENT IT ALL YOU DUMBSHIT.

By: mattbucher

mattbucher — Sat, 31 May 2008 19:36:09 -0800

With the kid and all I'm expecting like $1500 and I intend to use that as a downpayment on a $4000 espresso machine, with a deal for no payments the first twelve months and I'm hoping that this time next year the economy will be even more fucked up and the new president will have to make nice in his new job and give us all like double the amount of stimulus or whatever so it will be paid for! It's the American way.

By: synaesthetichaze

synaesthetichaze — Sat, 31 May 2008 19:37:23 -0800

Forgot to say thanks for posting this... it's a very entertaining website, in the sense that getting angry at strangers is very entertaining to me.

By: spinifex23

spinifex23 — Sat, 31 May 2008 19:51:07 -0800

I got my $600 on May 16th, and squirreled it away, hoping to save it for moving expenses. However, on May 17th, I got my bill for a spinal MRI, that was a little more than the $600 I had just received. So, that's where my money went instead. Nothing fun, but at least I had the satisfaction of paying it off completely that evening. Thanks, Prez! Now I know that I don't have a spinal tumor!

By: i_am_a_Jedi

i_am_a_Jedi — Sat, 31 May 2008 20:09:20 -0800

$1800 right into the savings account. Thanks grandkids (who aren't alive yet!) *and the chinese*.

By: netbros

netbros — Sat, 31 May 2008 20:10:19 -0800

That's good news spinifex23. Glad there's no tumor.

By: five fresh fish

five fresh fish — Sat, 31 May 2008 20:22:06 -0800

Congrats, spinifex. The CEO of the Federal Reserve Bank of Dallas says With a total population of 304 million, from infants to the elderly, the per-person payment to the federal treasury [debt] ... comes to $1.3 million per family of four—over 25 times the average household's income. There's claimed to be a lot of millionaires in the USA, but I don't know if those stats include a bunch of "fake" millionaires who own more debt than they do assets, nor whether a debtor nation can be considered to have any true wealth. OTOH, global debt to assets apparently results in a negative balance sheet, which is a whole other mindfuck. The globe owes debt to whom?

By: mr_crash_davis

mr_crash_davis — Sat, 31 May 2008 20:29:13 -0800

I haven't got mine yet, but I plan to spend it on shots which I will drink out of Pinky's navel.

By: fshgrl

fshgrl — Sat, 31 May 2008 20:32:47 -0800

I gave $100 to Planned Parenthood and stuck the rest in savings. I would have given it all to PP but I'm saving up the deposit for a foreclosed rental property so I can become a slumlord. Thanks Republicans!

By: Lucinda

Lucinda — Sat, 31 May 2008 20:32:54 -0800

We're not getting ours until July 4 (stupid paper checks, stupid me with a high last two digits of my SS#). We're going on our first family vacation in eleven years in August, so we'll probably use some of this for that (and we're going to Toronto, so, well, sorry, US economy).

By: AsYouKnow Bob

AsYouKnow Bob — Sat, 31 May 2008 20:34:36 -0800

I'm going to be the Last Guy in America to get my check (they're being sent in numerical order). My current plan is to use half of it to buy heating oil (so we don't freeze next winter); and the other half I'm going to give to the Democrats, to help drive the GOP from power. I devoutly hope that the GOP is keep far from the levers of power for the rest of my children's lives.

By: lysdexic

lysdexic — Sat, 31 May 2008 20:38:05 -0800

OTOH, global debt to assets apparently results in a negative balance sheet, which is a whole other mindfuck. The globe owes debt to whom? Now, see, this is the kind of thing that makes me want to hide under the bed. If I think about it long enough, I realize the entire economy is one great big house of cards, held up by imaginary friction and hope. It's the biggest game of "Lets Pretend©" ever. Except it's deadly fucking serious. And it depends on having poor people, and obscenely rich people, and saps in the middle who actually believe in good and bad and sunshine and rainbows. Then I go read a book. I can only take so much reality.

By: TheOnlyCoolTim

TheOnlyCoolTim — Sat, 31 May 2008 20:39:10 -0800

OTOH, global debt to assets apparently results in a negative balance sheet, which is a whole other mindfuck. The globe owes debt to whom? Once you realize the economic system is about as grounded in reality as World of Warcraft, that becomes much less of a mindfuck. Abstractions of abstractions of abstractions of any real value, with millions of middlemen taking their cut.

By: Avenger

Avenger — Sat, 31 May 2008 20:45:52 -0800

I plan on paying down 1 of my 3 credit cards. Which means that, essentially, the government is borrowing money from next year's budget to give me so that I can pay for money which I borrowed the year before. Sometimes I envision a future where the only real "economy" is just the government printing checks and distributing them to the masses so that we can buy things from each other.

By: five fresh fish

five fresh fish — Sat, 31 May 2008 21:17:08 -0800

I devoutly hope that the GOP is keep far from the levers of power for the rest of my children's lives. Hard to believe the previous administration pulled off surpluses, eh? Those were the days...

By: Blazecock Pileon

Blazecock Pileon — Sat, 31 May 2008 22:09:51 -0800

What's funny is people spending their "rebate" check, when the tax brackets will be changed to put that $0.01-600.00 back into the government's coffers over the next few years. You think this is "free" money?

By: Burhanistan

Burhanistan — Sat, 31 May 2008 22:11:23 -0800

I used my to pay for a trip to Canada to attend an Islamic gathering. Thanks, W!

By: Burhanistan

Burhanistan — Sat, 31 May 2008 22:12:35 -0800

my stimulus payment, that is.

By: mrzarquon

mrzarquon — Sat, 31 May 2008 22:14:24 -0800

I spent my $600 on prepaying for biodiesel from my local cooperative. It is made from waste soy oil produced from the making of animal feed, and is carbon neutral. I picked up enough to last me until next dec. I figure it was a worthy investment, fuel wise.

By: micayetoca

micayetoca — Sat, 31 May 2008 22:16:04 -0800

Yeah, I never liked his books after the first one.

By: stirfry

stirfry — Sat, 31 May 2008 22:26:57 -0800

I find it odd that some ways of spending are considered "good and useful" while others are not. Can someone tell me how the stimulation to the economy is better by using the money to buy, say, a new computer or an engine re-build instead of leaving a fat tip for the piano player at the whore house? Doesn't it all end up sloshing around in the economy and thus instead of having these stimulus rebates cash could just as well have been dropped from airplanes?

By: TheOnlyCoolTim

TheOnlyCoolTim — Sat, 31 May 2008 22:34:03 -0800

If you buy a new computer, a large corporate person gets the money, while if you buy a fat tip for a piano player, an actual human person gets the money. The latter is discouraged.

By: mazola

mazola — Sat, 31 May 2008 22:48:16 -0800

"If they do it again next year its gonna be a good tat or a cruise!" Fight the Power!

By: Kwantsar

Kwantsar — Sat, 31 May 2008 22:48:55 -0800

This thread explains why so few people on Metafilter dislike taxes.

By: stirfry

stirfry — Sat, 31 May 2008 22:51:52 -0800

If you buy a new computer, a large corporate person gets the money, while if you buy a fat tip for a piano player, an actual human person gets the money. The latter is discouraged. The actual human person may well spend the money at the shop of the large corporate person.

By: ikkyu2

ikkyu2 — Sat, 31 May 2008 23:00:58 -0800

I gave it to two of my employees as a bonus, because they rock.

By: marble

marble — Sat, 31 May 2008 23:04:28 -0800

I'm using it to keep cheese as part of my diet for as long as I can afford.

By: maxwelton

maxwelton — Sat, 31 May 2008 23:17:48 -0800

By: stirfry

stirfry — Sat, 31 May 2008 23:26:12 -0800

I'm going to slip mine to the public defender I'm assigned when I'm forced to testify in front of the Homeland Un-Homeland Activities Committee, in the hopes that I can get fewer volts applied to my genitals in Guantanimo than my less-thoughtful contemporaries. With the cost of fossil fuels being what they are, those volts will be replaced by a whacking with stout sticks....as long as global warming doesn't harm the forests.

By: lysdexic

lysdexic — Sun, 01 Jun 2008 00:00:39 -0800

This thread explains why so few people on Metafilter dislike taxes. What I dislike is waste. What I dislike is dishonesty, whether it's with other people or myself. Like it or not, taxes are the dues we pay to live in a civilized world. That means we all pay so we can all play. Some of us are better at it than others. Very few actually are working for total equality/bring others down so we/s/he can be up. Most are working toward taking everybody up. Here in the land of the fee, er, free, we are pretty stupid about taxes and services. We want the gummit to do stuff* but we don't want to pay for it. So we pass laws making schools/cities/states do x/y/z, but don't fund it. Time and time again. So now our long, national bender is coming to an end. We chanted "rain rain, go away, come again some other day!" Well, now that other day has finally caught up to us. And it's very likely that taxes are going to go up, and we're going to have to suck it up and pay up. *speak for yourself, you say? Remember that the next time you need a cop or a firefighter or an ambulance.

By: loiseau

loiseau — Sun, 01 Jun 2008 00:16:24 -0800

"Economic stimulus cheque" is such 1984-speak. Isn't it essentially a tax rebate? If anyone needs help getting their rebate into the Canadian economy, just MeMail me for my mailing address.

By: srboisvert

srboisvert — Sun, 01 Jun 2008 01:16:10 -0800

Isn't it essentially a tax rebate? More like taking candy, lots of it, from babies since it is not accompanied with any cuts.

By: Mr. Bad Example

Mr. Bad Example — Sun, 01 Jun 2008 03:10:03 -0800

"Bought season tickets, way up in the upper bowl, to the Carolina Panthers for my husband and I!!!!" She should have spent it on some grammar lessons.

By: Mutant

Mutant — Sun, 01 Jun 2008 03:19:41 -0800

There are lots of different ways the government can provide stimulus to the economy; cash rebates direct to individuals, such as these, were also tried in 1975, 2001 & 2003 (The Tax Reduction Act of 1975, The Economic Growth and Tax Relief Reconciliation Act of 2001, and The Jobs and Growth Tax Relief Reconciliation Act of 2003 respectively). But pushing money so crassly into the system isn't the only way a Government can attempt to boost spending. Other mechanisms of note that have been tried in the past:

Increase in standard deduction -- 1971, 1975, 2001
Increase dependent exemptions or credits -- 1971, 1975, 1992, 2001, 2003
Reduce individual tax rates -- 1964, 1975, 1981, 2001, 2003
Increase in the earned income tax credit -- 1975, 1992, 2001
Provide an individual credit for FICA taxes -- 1992
Reduce tax rate applicable to income from capital gains -- 1981, 2003
Reduce tax rate applicable to dividend income -- 2003

Source: OVERVIEW OF PAST TAX LEGISLATION PROVIDING FISCAL STIMULUS AND ISSUES IN DESIGNING AND DELIVERING A CASH REBATE TO INDIVIDUALS [.pdf] Staff of the JOINT COMMITTEE ON TAXATION, February 13th 2008 If you'd rather not plow through the pdf (its ok for me as Sunday mornings Mrs Mutant and I put Baileys in our coffee for that extract kick after a rollickin' Saturday evening) I'll briefly summarise: Studies showed the 1975, 2001 & 2003 rebates "provided modest stimulus to consumption". Apparently direct cash is the approach favoured by the economists who advise those dreaming up these activities as (surprising to me, I have to admit), "the investment tax credit may have had destabilizing effects on the economy, encouraging companies to delay investment during slowdowns and providing stimulus when the economy was already in recovery." Reducing corporate income tax rates is apparently the most beneficial - "Empirical evidence on the effect of corporate income tax rate changes is scant, but economic models suggest that while these reductions may encourage investment in the short run, they have the greatest effect on long term growth." Another interesting paper, recently put out by Linfield (2008) is Proposed Rebates in 2008: How Will Americans Spend Their Tax Rebate Checks?. Linfield surveyed over 900 recipients of the rebate, with the following findings:

Pay Debt (48%)
Savings (22%)
Buy Something (13%)
Other (12%)
Retirement Savings (4%)

Linfield notes that "Further study is recommended to determine why Americans are expressing such a significant preference for debt reduction and a low preference for retirement savings at this time." So these rebates won't be kicking the economy into high gear, but they aren't destabilising as mechanisms might be either. I started researching the rebates as soon as announced as I got curious about what impact rebates would have, and how to play it from a market point of view. Short answer: no clear trading opp (at least none I'm gonna share with you lot!!). Interesting post - thanks. Other papers on this subject I've read and found interesting: Agarwal, S., L., C., Souleles, N., S., 2007, "The Reaction of Consumer Spending and Debt to Tax Rebates - Evidence from Consumer Credit Data" Linfield, L., E., 2008, "Proposed Rebates in 2008: How Will Americans Spend Their Tax Rebate Checks?" Johnson, D., S., Parker, J., A., Souleles, N., S., 2005, "Household Expenditure and the Income Tax Rebates of 2001" Shapiro, M., D., Slemrod, J., B., 2002, "Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys"

By: dirigibleman

dirigibleman — Sun, 01 Jun 2008 03:57:45 -0800

Bought season tickets, way up in the upper bowl But, you don't even like feetball!

By: joannemerriam

joannemerriam — Sun, 01 Jun 2008 08:11:43 -0800

Here's mine. It's interesting to me how many of the people on the site are really angry. I was talking to co-workers about the stimulus checks the other day, and our consensus was that an extra $600 just lets you know how fucked you already are.

By: five fresh fish

five fresh fish — Sun, 01 Jun 2008 08:28:45 -0800

"Further study is recommended to determine why Americans are expressing such a significant preference for debt reduction and a low preference for retirement savings at this time." Durrr.

By: five fresh fish

five fresh fish — Sun, 01 Jun 2008 08:36:21 -0800

And regarding taxes: Swiss banks are telling their executives to stay out of America, out of fear they'll be arrested for helping a billionaire avoid paying taxes. How incredibly selfish you have to be to make billions of dollars and then screw your nation and fellow citizens by doing everything you can to avoid paying a pissant amount of tax. The best possible consequence should be forfeiture of all their wealth. The mega-wealty made it because the nation provided infrastructure and the citizens provided their skills, labour, and purchasing power. If a billionaire can't be bothered to kick back into the system that provided such immense assistance in becoming mega-wealthy, s/he don't deserve it. Fuck us? No, fuck you, fatcat.

By: telstar

telstar — Sun, 01 Jun 2008 09:51:43 -0800

I now call my savings account my "inflation account". Much more accurate and spendable.

By: Mutant

Mutant — Sun, 01 Jun 2008 12:30:21 -0800

five fresh fish that's an interesting article you linked to (a little OT but curious nonetheless); there is something untoward going on in Private Banking circles towards Americans, specifically Americans resident in foreign countries. The Bush administration has significantly increased reporting requirements - detail as well as frequency of information - that domestic US banks are obliged to provide on American citizens and resident aliens holding accounts. Apparently the amount of data that domestic US institutions routinely provide is "unnecessarily detailed and invasive" (quoting a conversation I had a few months ago with a Zurich based banker) compared to European norms. Pretty much any reasonable expectation of personal privacy in one's banking affairs has now been silently forfeited by domestic customers of American banks, and it would seem The Bush administration is pushing this agenda onto foreign institutions that are engaged in legal business with American citizens abroad. My own experience: I'm with HSBC Private Banking and wanted to change institutions. When I approached another well known British institution I was told they they wouldn't have me because I'm American. Well, I know some people at that particular institution and made inquiries through alternate channels to see what could be done. The reasons why the wouldn't consider my custom were laid out in bare terms - Europeans don't agree with the near total abrogation of personal privacy that American institutions have acceded, and apparently are refusing to be party to it in any way, shape or form, regardless of how much money there is to be made. I was speaking with someone in Zurich, and she told me that many of her institution's staff could no longer travel to the United States - even on holiday mind you - as they personally had become targets because their European institution (operating in full compliance of European law) refused to play by American rules. It's very curious, and many of us (American ex-pats) aren't really sure where The Bush administration is trying to go with this. Except to perhaps force us to only use American banks. Well, I can't be using a domestic US institution for my daily affairs while I live in Europe. And I have no plans to return to The United States to live. So I think there might be more to that story you linked to than what one might see at first glance. Regardless, there surely are interesting things going on back there in The Old Country.

By: five fresh fish

five fresh fish — Sun, 01 Jun 2008 12:35:45 -0800

a little OT but curious nonetheless Not off topic. The topic is the US stimulus checks and, in part, people's need for them. Part of the reason people can't afford these things is because their wages have not risen at the same pace as inflation. A very large part of why their wage have not inceased is because money is being literally stolen from the economy by bajillionare jackoffs — both upper management and big investors — who are not sharing their wealth with the very people who made that wealth possible. The article I linked indicates that billionaires are evading taxes. That's sociopathic behaviour.

By: neuron

neuron — Sun, 01 Jun 2008 12:50:13 -0800

"Economic stimulus cheque" is such 1984-speak. Isn't it essentially a tax rebate? No, it's essentially a loan. Since our budget operates in a deficit, the government is borrowing this money. You'll be paying in back, plus interest, in the form of higher taxes in the future.

By: Mutant

Mutant — Sun, 01 Jun 2008 13:45:17 -0800

five fresh fish -- "The article I linked indicates that billionaires are evading taxes. That's sociopathic behaviour." Yeh, agreed, that's hardly acceptable but unfortunately not restricted to billionaires only - for example, Wesley Snipes is hardly that well off. It might boggle the mind someone of Snipes' profile would try something so ill-advised, but it is rational behaviour, and easy to understand - the price of compliance rises as marginal tax rates increase. In effect, the tax evader is making a bet on the chance of getting caught, and as total tax burden rises so does the payoff from that bet. And unfortunately, neither audit rates nor financial penalties keep up with the potential payoff (I'm by no means advocating tax evasion, but markedly lower rates and overall burdens). Unfortunately, we can expect more of this as I don't think taxes will be reduced in the near term. But the thing I find most curious is the fact The Bush Administration is trying to push American rule of law on the rest of the planet, by whatever means possible. This is hardly the only example. About the only place I think you can be truly free these days is Africa, perhaps parts of The Middle East and Asia, but definitely not North America or Western Europe. You don't have to emigrate to a nation hostile to US interests; just one that's indifferent. At least that's my plan as I don't really see the next administration doing much to roll back what Bush has put into place. Not significantly, at least.

By: five fresh fish

five fresh fish — Sun, 01 Jun 2008 14:36:04 -0800

Wesley Snipes is hardly that well off. Are you kidding me? The article you link states "At his sentencing in April, prosecutors said the actor had earned more than $38m (£19.2m) since 1999, but had filed no tax returns or paid any taxes." How much money does the guy need before he feels comfortable paying some damn taxes on the money he earned mostly from fellow Americans? Forty million dollars in wealth isn't enough? Jesus, what greed! There's a massive amount of public infrastructure that went into supporting him throughout his life, support that literally made it possible for him to become wealthy in the first place. The very least he can do is be honest enough to pay back into the system.

By: dasheekeejones

dasheekeejones — Mon, 02 Jun 2008 03:47:20 -0800

We're buying a couch. A friggen couch. My vote for Ashley Alexandre Dupre was voted down. Stupid couch.

By: kryptondog

kryptondog — Mon, 02 Jun 2008 08:47:48 -0800

I'll probably use mine to buy an EEE-PC. :'(

By: mouthnoize

mouthnoize — Mon, 02 Jun 2008 10:56:04 -0800

Bought VIRTUAL LAND in Second Life. HA! It's gone forever!

By: EmpressCallipygos

EmpressCallipygos — Mon, 02 Jun 2008 13:00:58 -0800

I'll be signing up for a couple classes in writing, proofreading, and copyediting. And with that, I'll start taking on freelance copyediting and proofreading work for supplementary income, and hopefully double the money over time.