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Old 09-28-2012, 11:28 AM  
Direckshun Direckshun is offline
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Outside the box stimulus idea. Don't say I didn't warn you.

http://www-personal.umich.edu/~mkimb...ck-29may12.pdf

To quote the study's author:

"Provide $2,000-lines of credit to every taxpayer, accessed through a government-issued credit card.

"The interest rate would be 6% per year, the money could be paid back over the course of 10 years, and the credit limit would gradually fall as the economy recovered and the stimulus from this extra borrowing power was no longer needed… most of the funds people borrow using these government-issued credit cards would eventually be repaid—particularly since the government can enforce repayment through payroll deduction. The unemployed would have their payments deferred, but once the economy is moving again, most people would have jobs with paychecks so they could repay… the stimulus effects of Federal Lines of Credit would be at worst only a little smaller than the stimulus from a $2,000 per person tax rebate.

"If 90% or more of everyone eventually repays, a $2,000 per person line of credit would ultimately cost less than $200 per person. With a good deal like that for getting the economy back in gear, maybe even Republicans and Democrats can agree on it."
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Old 09-28-2012, 01:00 PM   #16
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Quote:
Originally Posted by Direckshun View Post
http://www-personal.umich.edu/~mkimb...ck-29may12.pdf

To quote the study's author:

"Provide $2,000-lines of credit to every taxpayer, accessed through a government-issued credit card.

"The interest rate would be 6% per year, the money could be paid back over the course of 10 years, and the credit limit would gradually fall as the economy recovered and the stimulus from this extra borrowing power was no longer needed… most of the funds people borrow using these government-issued credit cards would eventually be repaid—particularly since the government can enforce repayment through payroll deduction. The unemployed would have their payments deferred, but once the economy is moving again, most people would have jobs with paychecks so they could repay… the stimulus effects of Federal Lines of Credit would be at worst only a little smaller than the stimulus from a $2,000 per person tax rebate.

"If 90% or more of everyone eventually repays, a $2,000 per person line of credit would ultimately cost less than $200 per person. With a good deal like that for getting the economy back in gear, maybe even Republicans and Democrats can agree on it."
**** YOU COCKBAG!!!!![/size]
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Old 09-28-2012, 02:06 PM   #17
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Why don't we just make it $100,000 and get the economy really cooking!
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Old 09-28-2012, 02:07 PM   #18
patteeu patteeu is offline
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I wonder what percentage of the $2000 would go to buy products made in China.
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Old 09-28-2012, 02:15 PM   #19
vailpass vailpass is offline
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Quote:
Originally Posted by Amnorix View Post
Yeah, but if you do one of those one-time rebates, the money is gone anyway, so if you're posing an either/or, that part doesn't matter much.
It seems it would matter in the context of the article being misleading when saying that if 90% paid back the credit loan the cost would be approx. $200/person.
Not only is the 90% figure HIGHLY unlikely, the author neglects to include the administrative costs of the program which would result in a much higher cost per person.
Given the federal government's track record in dabbling in private sector practices the final administrative costs per person may exceed the $2000 benefit. A fitting, if tragic, exclamation point to another ill advised big government initiative by the obama camp.
We MUST stop trying to fix our problems by throwing money at them.
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Old 09-28-2012, 02:16 PM   #20
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Old 09-28-2012, 02:17 PM   #21
vailpass vailpass is offline
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Originally Posted by patteeu View Post
Why don't we just make it $100,000 and get the economy really cooking!
We have the printing presses needed to accomplish this, don't we?
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Old 09-28-2012, 02:26 PM   #22
J Diddy J Diddy is offline
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I mean wait a minute. Before I throw my opinion out there, there's something I need to know. If we get that $2000, will I still get my free Obama phone?
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Old 09-28-2012, 02:41 PM   #23
blaise blaise is online now
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Quote:
Originally Posted by patteeu View Post
I wonder what percentage of the $2000 would go to buy products made in China.
Almost all of it. The $2,000 would stimulate retail business at Christmas, so retailers could temporarily hire a few more people to sell TVs, clothes and phones manufactured somewhere else.
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Old 09-28-2012, 02:47 PM   #24
vailpass vailpass is offline
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Quote:
Originally Posted by J Diddy View Post
I mean wait a minute. Before I throw my opinion out there, there's something I need to know. If we get that $2000, will I still get my free Obama phone?
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Old 09-28-2012, 02:51 PM   #25
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Old 09-28-2012, 03:06 PM   #26
Stewie Stewie is offline
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I miss the old days when the government programs built dams and electric lines.
Absolutely.

It started back in the early 20th century when Henry Ford asked why we need federal government bonds to build a dam with the big banks involved. The government didn't need the banks back then, but now they're the slave of the banks.

Ford's point was this: "Why do we need to float federal gov't bonds via the banks when the banks skim 50% of the money that has nothing to do with building a dam."

Fast-forward to today and this administration can't do enough to take it up the ass from their bankster buddies. QE3, QE4.... and on and on and on.
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Old 09-28-2012, 05:00 PM   #27
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Old 09-28-2012, 05:08 PM   #28
Aries Walker Aries Walker is offline
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Millions would max out within days, and thousands would default, leaving the government in even more debt. Many people would view it as free money, and would also end up in even more debt.

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Old 09-28-2012, 08:26 PM   #29
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Old 09-30-2012, 01:29 AM   #30
Direckshun Direckshun is offline
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