What do you think these new packages?

[JohnnyPrius07]

I - Economy Stimulate - Debit Cards
1. Provide a debit card that has an expiration date (money must be used within one month, two months, etc.). This will prevent people from keeping it in their savings bank.


2. Debit card cannot be used to pay debt, travel outside of the U.S., buy overseas goods by the Internet, etc., or be cashed out. This will help fuel the U.S. economy.


3. People with a lower income will receive more money in the debit card than people with a higher income (example: an unemployed person who no longer receives any benefits gets more money in the debit card than an unemployed person who currently receives an unemployment check, etc.).


4. If possible, this economy stimulate package should be repeated until our economy gets better.

II - Economy Stimulate - Domestic Vehicles
Provide a tax deduction for domestic new vehicle buyers:
1. 20%* tax deduction for buying a new vehicle that is made or assembled on U.S. soil (example: $3000.00 tax deduction for a $15,000.00 cost).


2. 40%* tax deduction for buying a new hybrid vehicle that is made or assembled on U.S. soil (example: $6,000.00 tax deduction for a $15,000.00 cost).


3. 50%* tax deduction for buying a new electric vehicle that is made or assembled on U.S. soil (example: $7,500.00 tax deduction for a $15,000.00 cost).

III - Economy Stimulate - Housing
Provide a 2%* tax deduction to home buyers for five consecutive years for home prices under $2,000,000.00 (example: $6,000.00 tax deduction each year for a $300,000.00 home).

* Percentages can be changed as needed.

[dogfriend]

I. I will use the debit card to buy food - that is the only discretionary spending that I am doing now since the company I worked for was shut down last Oct.

II. I own a Toyota so I won't be shopping for another car for a least a few years.

III. My GF and I are still able to make the house payment even though I'm on unemployment. We have 4 yrs 8 mos to go to pay it off. I'll get a paper route or something if I don't find another job before unemployment benefits run out. I would get a paper route now, except it would screw up my unemployment. Luckily, we weren't stupid enough to pull equity out or buy a house we couldn't afford. But our house has probably lost half its value on paper in the last 3 years, so we won't be selling it to buy another house.

[JohnnyPrius07]

To Whom It May Concern

Regarding the current economy, I have a few suggestions that might help to improve our economy as below. Please look over these ideas and discuss them with your colleagues.

I - Debit Cards Economy Stimulate: (If we give out the checks the money is not being used, that will defeat economy stimulation)

1. Government provides debit cards that has an expiration date (money must be used within one month, two months, etc.). This will prevent people from keeping it in their savings bank.
2. Debit card cannot be used to pay debt, travel outside of the U.S., buy overseas goods by the Internet, etc., or be cashed out. This will help fuel the U.S. economy.
3. People with a lower income will receive more money in the debit card than people with a higher income (example: an unemployed person who no longer receives any benefits gets more money in the debit card than an unemployed person who currently receives an unemployment check, etc.).
4. If possible, this economy stimulate package should be repeated until our economy gets better.

II - Domestic New Vehicles Tax Deductible Economy Stimulate:

Government to provide tax deduction for domestic new vehicle buyers (we helped mfg to manufacturing vehicles but they cannot sell; we must help car manufacturing to sell their product)

1. 20%* tax deduction for buying a new vehicle that is made or assembled on U.S. soil (example: $3000.00 tax deduction for a $15,000.00 cost).
2. 40%* tax deduction for buying a new hybrid vehicle that is made or assembled on U.S. soil (example: $6,000.00 tax deduction for a $15,000.00 cost).
3. 50%* tax deduction for buying a new electric vehicle that is made or assembled on U.S. soil (example: $7,500.00 tax deduction for a $15,000.00 cost).

III - Housing Tax Deductible Economy Stimulate: (More buyers will keep the housing market more stable)
Government to provide 2%* tax deduction to home buyers for five consecutive years for home prices under $2,000,000.00 (example: $6,000.00 tax deduction each year for a $300,000.00 home).


IV- Credit Card Interest Tax Deductible Economy Stimulate:

Perhaps re-initiate Tax deductible on Credit Card Interest (before President Regan) to stimulate buyers for few years.

* Percentages and numbers can be changed as needed.
Sincerely,
JohnnyPrius07

[Dave_PH]

Originally Posted by JohnnyPrius07

I - Economy Stimulate - Debit Cards
1. Provide a debit card that has an expiration date (money must be used within one month, two months, etc.). This will prevent people from keeping it in their savings bank.


2. Debit card cannot be used to pay debt, travel outside of the U.S., buy overseas goods by the Internet, etc., or be cashed out. This will help fuel the U.S. economy.


3. People with a lower income will receive more money in the debit card than people with a higher income (example: an unemployed person who no longer receives any benefits gets more money in the debit card than an unemployed person who currently receives an unemployment check, etc.).


4. If possible, this economy stimulate package should be repeated until our economy gets better.

II - Economy Stimulate - Domestic Vehicles
Provide a tax deduction for domestic new vehicle buyers:
1. 20%* tax deduction for buying a new vehicle that is made or assembled on U.S. soil (example: $3000.00 tax deduction for a $15,000.00 cost).


2. 40%* tax deduction for buying a new hybrid vehicle that is made or assembled on U.S. soil (example: $6,000.00 tax deduction for a $15,000.00 cost).


3. 50%* tax deduction for buying a new electric vehicle that is made or assembled on U.S. soil (example: $7,500.00 tax deduction for a $15,000.00 cost).

III - Economy Stimulate - Housing
Provide a 2%* tax deduction to home buyers for five consecutive years for home prices under $2,000,000.00 (example: $6,000.00 tax deduction each year for a $300,000.00 home).

* Percentages can be changed as needed.

makes too much sense. I think we should continue blindly giving it to corporations.

But that's an issue for FHOPol if you want to risk going in there.

[daniel]

Bad ideas, in my opinion. FDR had it right. The way to stimulate the economy is to provide jobs constructing infrastructure, not give away money. Especially not give money to banks whose CEOs will use it to give themselves hundred-million-dollar bonuses. But not even to ordinary folks. Our infrastructure is crumbling and we lack infrastructure for the future. Instead of giving people money to buy cars, we should employ people installing charging stations so folks can buy EVs. We should re-construct public transportation so people don't need private cars. There's so much we could do with that money that creates jobs and gives us something tangible in return.

Tax breakes are the worst possible way to implement public policy, because they disproportionately help the rich, and because they are nearly impossible to assess for effectiveness.