Stimulus boost may be a bust

In another ominous sign for retail, Wal-Mart executives aren't sure whether they'll see much of a bump from the economic stimulus checks Americans are receiving this month.

[Minnesota Mom]

What good is a stimilus check if they are going to take it for taxes that you owe? How does this stimiluate the economy?

[Matthew]

So, basically, the rebate checks are going to the oil companies. What do you expect when oil men run the country. As Bill Maher said, there would probably be an outcry if Col. Sanders was President, and the price of chicken tripled.....

Criminals.

[Sparky]

Stimulate your own economy pay off or down some bills.

[Pam]

There was so much talk about people going out and buying televisions so they can watch tv next. And where are these televisions being made? We are going to stimulate something alright. Thats the overseas countries who make most of our goods!

[Chad]

ummmm.....i spent my rebate check when i was in costa rica......sorry U.S. economy....hey i did use frontier airlines which is based in denver though

[Dabblin Dave]

Pam wrote:

There was so much talk about people going out and buying televisions so they can watch tv next. And where are these televisions being made? We are going to stimulate something alright. Thats the overseas countries who make most of our goods!

Hmmmm.... What IS made in America these days?

Wheat? Corn? That's all I can think of... evrything else is either grown or manufactured in a different country, even "American" cars.

Oh wait, there are those wooden toys made somewhere here in the Twin Cities.

[Seriously]

I spent my rebate check on gas....after that there was nothing left.....

[Long Haul]

So much for "demand-side" economics.

Seriously Seriously, unless you drive A LOT, I think your stimulus check will cover gas even at this insanely high price point.

You're right Dabblin Dave, even "domestic cars" are atleast partially built overseas or their component parts are; however, the majority of "foreign cars" are atleast partially built in the USA. Makes one wonder what qualifies as "foreign" and what qualifies as "domestic" these days.

[GRP]

The plan was doomed from the start because the government (Democrate majority) gave the money to those have the smallest tax burden, to those who don't drive the economy and they didn't reduce expenses to pay for it. They took money from the people who DO drive the economy to pay for it, instead of giving them the "stimulus". What should have been done?- reduce the corporate tax rate (highest in the world), reduce the individual tax rate for those who actually are in the best position to drive the economy, drill for our own oil on and off-shore, build some refineries, and STOP the ethanol mandate.

[Barney]

GRP wrote:

The plan was doomed from the start because the government (Democrate majority) gave the money to those have the smallest tax burden, to those who don't drive the economy and they didn't reduce expenses to pay for it. They took money from the people who DO drive the economy to pay for it, instead of giving them the "stimulus". What should have been done?- reduce the corporate tax rate (highest in the world), reduce the individual tax rate for those who actually are in the best position to drive the economy, drill for our own oil on and off-shore, build some refineries, and STOP the ethanol mandate.

There's so many non-factual notions in that, I wouldn't know where to start.

[Db Sweeney]

GRP wrote:

The plan was doomed from the start because the government (Democrate majority) gave the money to those have the smallest tax burden, to those who don't drive the economy and they didn't reduce expenses to pay for it. They took money from the people who DO drive the economy to pay for it, instead of giving them the "stimulus". What should have been done?- reduce the corporate tax rate (highest in the world), reduce the individual tax rate for those who actually are in the best position to drive the economy, drill for our own oil on and off-shore, build some refineries, and STOP the ethanol mandate.

Bush was touting this as much as any of the Democratic leaders. You can't seriously blame this entirely on the Democrats unless you want to totally disregard the facts. This one was designed BY BOTH PARTIES. So please, leave the partisan insults to the side as they make you sound foolish.

The rest of your rant gets lost because of your first sentence. I'll just say this: The idea of trickle down economics was drawn on a cocktail napkin at a bar. Needless to say, I'd bet that it wasn't Diet Rite sitting on top of that napkin beforehand.

We could stand to cut corporate taxes, but from where? Health care, education, national security? It's always easy to say, never easy in real-life.

[Game Plan]

IT was the idea as far as President Bush was concerned the whole time! Draw more oil into the national reserve, therefore driving oil prices up further, then send out tax rebates and people will spend them on gas, they couldn’t afford it any other way. So more money into the pockets of his future employers (I.E. Exxon, Carlyse etc..) means a bigger paycheck for him when he is gone.. WOW, what a GREAT president, man I am proud of this country!

[FoonTheElder]

GRP wrote:

The plan was doomed from the start because the government (Democrate majority) gave the money to those have the smallest tax burden, to those who don't drive the economy and they didn't reduce expenses to pay for it. They took money from the people who DO drive the economy to pay for it, instead of giving them the "stimulus". What should have been done?- reduce the corporate tax rate (highest in the world), reduce the individual tax rate for those who actually are in the best position to drive the economy, drill for our own oil on and off-shore, build some refineries, and STOP the ethanol mandate.

What are you drinking in Minnesota? These are the same people who have received all of the tax breaks for decades and have invested it in China, India and Korea. These are the people who have been driving the economy in China and India, not the United States.

Exxon/Mobil has the highest profits in history and where are they investing their money besides gouging Americans? Executive bonuses and drilling in Nigeria and Equatorial Guinea.

[Loosy Goosy]

I say build the addition to the Mall.

[Loosy Goosy]

Oops. Wrong topic.

[Mark]

GRP is absolutely right. The only way to grow the economy is to lower taxes, corporate and individuals. In regards to the comment about Exxon/Mobil...of course they drill in Nigeria since the government refuses to let these companies take advantage of our own resources. Wake up people...this country was built on cheap oil over the past 50 years...get your head out of the sand if you think any short term fix will make any difference.

[GRP]

Db Sweeney wrote:

<quoted text>
Bush was touting this as much as any of the Democratic leaders. You can't seriously blame this entirely on the Democrats unless you want to totally disregard the facts. This one was designed BY BOTH PARTIES. So please, leave the partisan insults to the side as they make you sound foolish.
The rest of your rant gets lost because of your first sentence. I'll just say this: The idea of trickle down economics was drawn on a cocktail napkin at a bar. Needless to say, I'd bet that it wasn't Diet Rite sitting on top of that napkin beforehand.
We could stand to cut corporate taxes, but from where? Health care, education, national security? It's always easy to say, never easy in real-life.

Facts are hardly a "rant". This bill, in this form would have never passed in a Republican controlled Congress. Hardly trickle down economics. The people with the greatest tax burden don't provide the means to drive the economy. Yes, you cut spending - in transfer payments (social services)single biggest budget item, where has incenting poor decisions and bad behavior brought us. National security - no, doesn't need to be cut because as a % of GDP it's the lowest it's been in decades. Education yes, I think the U of MN and the MEA could get by without their $300 million + hand out every budget period, or a retirement package that allows them to retire at 55 with a full pension and free medical benefits for life. Maybe if they were forced to manage their expenses, they'd do a better job.

[GRP]

FoonTheElder wrote:

<quoted text>
What are you drinking in Minnesota? These are the same people who have received all of the tax breaks for decades and have invested it in China, India and Korea. These are the people who have been driving the economy in China and India, not the United States.
Exxon/Mobil has the highest profits in history and where are they investing their money besides gouging Americans? Executive bonuses and drilling in Nigeria and Equatorial Guinea.

Dear Foon the Fool. As an industry oil has received any more tax breaks than any other industry. Sorry but our economy runs on a capitalist model. Any business does what they can to control their operating expenses - get over it. Gouging Americans - Exon / Mobile have had "record" profits for only the last 3 years. Since 1981 the total government tax take has exceeded profits of the 16 largest oil companies by 65%(source taxfoundation.org . The governments tax collections were nearly twice those of the entire oil industry profits in any given year. The oil companies make $.08 1/2 on each gallon of gas(8 1/2 % gross margin). So who's really gouging us? The oil companies make billions in profits because they sell trillions of gallons of gas, duhhh. Target and Walmart have gross margin rates of 25-32% based on category. Where's your indignation towards the retail merchants with those profit margins?

[Ts Mom]

What Stymulus check? Most people I know of have not received a check as of yet and were supposed to the beginning of May. Once again the people are at the mercy of the government's whim!

[killer]

Tax cuts and drilling for oil would be a better plan.

But our leaders prefer to use up strategic reserves and take away tax cuts from the oil companies. The oil companies will just charge us more to make for the difference.

Brilliant.