Tax Rebate Incentive Checks

[Cadaverous Pallor]

Originally Posted by Alex

I'm starting to see a backlash. I've run into a surprising number of people who apparently didn't pay much attention beyond the initial "1200 per couple" and no idea that it dwindled to nothing for incomes above a certain limit.

So they went and spent $1200 in anticipation and are now very upset with their $214 (or whatever) check they actually got.


On the plus side, though, this is great economic stimulus. The government "tricked" them into spending $1200 and it only cost taxpayers 10% of that.

Hah. I could rant for days on how there are so many stupid people that have no idea how to handle money. The standard "spend it before you even have it" logic is beyond me.

Have you ever heard interviews with the people that got "scammed" into those bad mortgages that destroyed our economy? "I didn't read the fine print." "I assumed it would be ok." "I'm so surprised this happened to me!" These morons, and the morons that provided them with loans, have screwed this entire country. Grrrr

[Moonliner]

Originally Posted by Cadaverous Pallor

These morons, and the morons that provided them with loans, have screwed this entire country. Grrrr

Well not quite the entire country. There are a few people who are benefiting greatly from the real estate downturn....

First time home buyers (with good credit), people looking to invest in a second/vacation home, Landlords with rental properties, etc....

[BarTopDancer]

Originally Posted by Moonliner

First time home buyers (with good credit)

And 20% down if you live in Orange County and several other areas.

I was looking into buying a condo a few years ago. I talked to my friends mortgage broker. He kept trying to push me into an interest only ARM. I'd be one of those screwed right now had I done it.

[Gemini Cricket]

Originally Posted by Cadaverous Pallor

Hah. I could rant for days on how there are so many stupid people that have no idea how to handle money.

I have to admit, I'm one of those people.