$13 extra in your paycheck

[Bright_Star]

With the stimulus package now passed, it's been reported that we'll be getting an extra $13 in our paychecks. Now how does this help anyone? I'm sorry but I'm not feeling all excited about this.
It would have made more sense to have sent out another round of rebate checks like they did a year ago.
What will you do with $13 extra? Sure as hell can't go to Disneyland...lol.

[NightAngel]

Mod Hat:

This could easily go all Fratching. Let's not. Thanks.

/Mod Hat

When I read the thread title I thought, "I want $13 extra dollars!"

For me every bit helps- that's extra gas to get to work or an extra meal or two for my family or even several outfits from the thrift stores.

I'm very excited to get $13.

[smileyeagle1021]

ditta what NA said, $13 isn't that much, but that's enough for nearly an entire weeks gas for me at the current price... or a day and a half of food with what I'm averaging on food costs... or just about half of my Questar bill, or a third of my RMP bill, or a third of my Comcast bill... it also buys two weeks worth of kitty litter... or maybe even a months worth of cat food... or a night at the movies each month...

There are a lot of things I could put $13 towards... it's far from useless. And considering the problem right now is getting money flowing, and flowing steadily, having every person spending a little bit extra every week will do more than everyone making huge purchases over a week then spending nothing again.

[draftermatt]

$13 a week times 52 weeks a year is $676 a year.

So that is actually a little more than the 1 check that we got during the last "stimulus" under President Bush.

It costs the government less if they spread it out over the year rather than all at once.

[ditchdj]

Well, you can take that 13 dollars, save it up for a few weeks, and invest it in British Pounds and Euros!

I actually hear that the "stimulus" things Obama's gonna sign will give each person $400, even if they don't make enough to pay federal income taxes.

[Mr. Rager!]

Thing that as helpful about the stimulus checks that we got was it was a lump sum and people saw that money and said "savings" or "pay off something". Ok, that was one of the chief complaints about sending those checks out, people weren't stimulating the economy, they were paying off bills or saving the money. $13 a week or for most people $26 a check, they probably really won't notice that and won't save it, they won't pay off bills. And people need to save, save, save right now. *sigh*

*Disagrees with all superficial ways of stimulating the economy, including rebate checks.*

[Bright_Star]

Thing that as helpful about the stimulus checks that we got was it was a lump sum and people saw that money and said "savings" or "pay off something". Ok, that was one of the chief complaints about sending those checks out, people weren't stimulating the economy, they were paying off bills or saving the money. $13 a week or for most people $26 a check, they probably really won't notice that and won't save it, they won't pay off bills. And people need to save, save, save right now. *sigh*

*Disagrees with all superficial ways of stimulating the economy, including rebate checks.*

Wouldn't that be a common sense thing? Here you get several hundred dollars extra & it would make sense to use that money to get caught up with bills & such. It would be irresponsible to go out & buy something like a tv or computer knowing that you're behind in your bills.
Going out to buy something cause the government says we need to "stimulate the economy" just doesn't make sense.
IF everyone was caught up with their bills then going out to buy some goodies would be all fine & dandy. BUT people must pay their housing & other essentials before even thinking of going on a shopping spree.
Like I said, having $13 extra in your paycheck isn't going to accomplish anything.
Having the government throw money at us & wishing we'll use it the way they want is foolish.

[AdminAssistant]

I suppose it's all relative, depending on your personal situation. To me, a single grad student with no dependents making less than $12K/year, $13/week could be a big help.

[NightAngel]

The real point is more to put money back into businesses.

Using the aforementioned $676/year and multiply by, oh, say 5 million employed Americans (total guesstimate to play with) and you are talking a HUGE amount of cash flowing through.

As cash flows, the job market slowly reopens, as the jobs come back- more people have extra cash to spend at businesses, opening the job market more, giving more people money to spend at businesses...

When you are speaking of me and pretty much everyone I personally know this will work- none of us can save that $13 dollars right now. We have families to feed and clothe and we are broke. That money will go into businesses not savings.

[Kiwi]

Im not living in America but heck I could do with an extra $13 a week right now!
I would be stoaked with that amount! K and I have $25 each a week for food right now, that would be another 3 meals for both of us

If people choose to spend it in a store thats going to led to someone having to work, if people choose to pay part of a utility, someone has to work to accept the payment and provide the service, if they choose to save it, someone at the bank has to work to take the payment etc.

If someone in America wants to send the $13 they wont apprently notice to me I would be a very happy Kiwi! Hell I would even take $13 Canadian!

[Irving Patrick Freleigh]

Is this extra $13 every paycheck going to end up reducing tax refunds next year, or increasing taxes owed next year?

If so, that doesn't seem like much of a great deal to me.

[Giggle Goose]

That used to be my allowance each week when I was 9 or 10. Believe me, I can stetch that money somehow! I'm totally with NA on this one. Gas, a bit of extra food to put a dent in the grocery bill...I could go on and on.

[smileyeagle1021]

Is this extra $13 every paycheck going to end up reducing tax refunds next year, or increasing taxes owed next year?

If so, that doesn't seem like much of a great deal to me.

damn... Irv's right (as usual)

That's why my refund was smaller this year because part of the last check was an advance on this year's refund... if this $13 a paycheck is the same thing that means an even smaller refund or no refund at all for me next year.

[Irving Patrick Freleigh]

My federal refund this year was smaller than last year's, but not by much.

I guess it depends on whether they count that extra money as income received, or against taxes withheld.

damn... Irv's right (as usual)

Thank you for noticing.

[Bright_Star]

damn... Irv's right (as usual)

That's why my refund was smaller this year because part of the last check was an advance on this year's refund... if this $13 a paycheck is the same thing that means an even smaller refund or no refund at all for me next year.

That your refund was smaller than last year had nothing to do with the rebate checks that were sent out a year ago.