Stimulus checks

[The Original OC Adventure]

Originally Posted by Kevy Baby

I'm not an economist and I knew it was a stupid idea. It was just "feel good politics"

What if instead of a stimulus check they issued gift cards (with expiration dates) that could be spent at retail store that accepted credit cards?

The card could have restrictions on use. It could not be used to pay down existing debt, only for new purchases.

[BarTopDancer]

Originally Posted by The Original OC Adventure

http://www.msnbc.msn.com/id/26074524/

Looks like they failed. Most people used them to pay off debs, or buy gas.

There's talk about another stimulus package. What if they gave out gift cards instead? This would force people to spend the money in retail stores.

Would it work?

Originally Posted by Kevy Baby

I suspect that we would then see fraud as people sold their cards for pennies on the dollar to get the cash. Not sure how widespread it would become, but it would happen.

Originally Posted by The Original OC Adventure

What if instead of a stimulus check they issued gift cards (with expiration dates) that could be spent at retail store that accepted credit cards?

The card could have restrictions on use. It could not be used to pay down existing debt, only for new purchases.

.

[The Original OC Adventure]

Originally Posted by BarTopDancer

Quote:
Originally Posted by Kevy Baby
I suspect that we would then see fraud as people sold their cards for pennies on the dollar to get the cash. Not sure how widespread it would become, but it would happen.

.

Simple solution. Make retail stores ask for ID. Those who fail can have their gift card redemption privileges revoked.