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Obama Proposes $1000 Stimulus Check – Second Time a Charm?

by Ryan Guina

I’ve written several times about the economic stimulus checks and even answered quite a few questions about it as well. One of the most common questions I have gotten recently is whether or not there will be a second economic stimulus check. Right now there is no definitive answer, but the Democratic party is leaning heavily on a 2nd stimulus check as part of their election campaign.

In June, Barack Obama proposed to spend $50 Billion on an emergency economic stimulus package to relieve pressures on the current economy. Not only have rising gas prices caused a lot of problems for the economy, but so have increases in food prices, home foreclosures, job cuts, and more. Obama’s proposal also includes tax relief for retirees, seniors, and the middle class, debt relief for students, extended unemployment benefits, and the establishment of a $10 billion foreclosure prevention fund.

How will the government pay for the proposed second stimulus check?

Obama proposes to place a “a windfall profits tax” to pay for the $1,000 emergency rebate checks to help consumers pay for $4 a gallon gas. The windfall profits tax would come from US oil companies, primarily Exxon Mobile.

It seems like Obama’s plan is to increase taxes on the oil companies because they were extremely profitable. But is that really fair? Yes, Exxon Mobil and other oil companies are obscenely profitable. Exxon posted a quarterly profit of $11.68 billion this quarter, which comes out to $1,485 per second. Insane! But that doesn’t mean the profits are going straight into a corporate bank account and sitting there. Exxon spent $7 billion dollars last quarter finding and producing more oil. I’m not defending big oil, but I think it’s too easy to make them a scapegoat.

Will a second stimulus check improve the economy?

Many Democrats were vocal opponents of the first economic stimulus check when it was announced. Now key leaders in the Democratic party, including Obama and Nancy Pelosi, are behind pushing an emergency stimulus package through. How much will it help? According to Barrack Obama, a second stimulus check will help people for 4 months.

“This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said during a two-day campaign swing in Florida. “It will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills, or even to pay down your own debt.”

What happens after the 4 months are up? Will the economy have righted itself? Will a more permanent solution be in place? Is it really fair to require a company such as Exxon Mobil to subsidize the American lifestyle for 4 months?

Should the government support a second stimulus check?

By most accounts, the first stimulus check didn’t make a marked impact on the economy (in fact, many people still haven’t received their checks yet). The economy is still facing an uphill battle, much of which is caused by high oil prices and increasing costs for essentials such as food and housing. Personally, I don’t think a 2nd stimulus check is the answer. What do you think?

Read more detailed information about Obama’s Emergency Economic Stimulus Plan and Obama’s Road to Recovery – More Jobs, More Money in Your Pocket.


Published or updated December 29, 2011.
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1 David

I don’t mind taxing the oil companies for things like police, fire, schools, etc, as they get billions in subsidies that I pay for already. Either take the subsidies away, or tax the crap out of them. But for a stimulus check? Dumbest idea since the first stimulus check.

2 Braunn

Is Exxon really the Sheriff of Nottingham? Robbing the poor (or middle-class) to feed themselves?

From: http://money.cnn.com/2008/07/31/news/companies/exxon_profits/?postversion=2008073110

Yes,

“Exxon spent $7 billion in the second quarter finding and producing more new oil, up 38% from last year. Still, oil and natural gas production from the company fell 8%.”

But, at the same time…

“The company returned $10.1 billion to shareholders in the form of dividends and stock buybacks”

When the executives of an oil company (or any other company for that matter) spend more on propping up their stock price (and, hence, the value of their options) than on product development, I don’t have much sympathy for them. Is it really fair to require the American taxpayer to subsidize their retirements through tax breaks?

I, for one, have no problem with the idea of repealing all the tax breaks for the oil companies. And I don’t necessarily think the “windfall profits tax”, as it’s currently being suggested, is a bad idea either. It’s not as if it’s going to break them, or even dissuade them. A tax, whatever the rate, is only a percantage of the profits…they still have every incentive earn as much profit as they can. I’d personally love to be making enough to be paying in the highest tax bracket! If I’m paying more in taxes, it’s because I also have more money in my pocket!

I would prefer that the proceeds of either or both initiatives go toward the advancement of alternative/renewable energy sources than to social programs or rebates, but I certainly won’t turn it down if they decide to send some more of my money back to me.

I do agree with you, however, in that I don’t believe a second stimulus check will have that great an impact on the economy overall. If the government wants to instill any kind of confidence in the economy or the markets, they’d be better off spending the funds prosecuting folks like Mozillo and Thain for outright fraud and deception.

~B

3 momof5

“Is Obama really Robin Hood? Robbing the rich to feed the poor?”

Isn’t this the basis of the entire Democratic Party these days? Aren’t they all playing Robin Hood?

Our family is FAR from being in the top tax bracket. My thoughts are *not* based on feeling over taxed. Because of our family size and income, we probably qualify for government assistance. Instead of finding out, we make due with what is earned. The government needs to trim the fat from its “budget”, just as my family has, in order to contend with the price increases of food & fuel, etc.

I disagree with the notion that because a company, or even an individual, has been successful, means they need to give up a larger portion of their success to better the lives of those who haven’t. I’m all for programs that help people UP, not allow them to continue stagnating at the bottom.

On the other hand, I wish I could say that we are in the top bracket, because, as mentioned above, we would have more money in our pockets.

4 Frugal Dad

I don’t really like the idea of any politician calling for increased taxation of a private business for the purposes of wealth redistribution. So much for the “invisible hand.” We are hearing a lot about record profits from the oil companies, but their margins are lower than many other industries, such as pharmaceuticals. Why aren’t we taxing the heck out of them to pay for stimulus checks? It’s a slippery slope and I’d rather we avoid it a second time around.

5 Curious Cat Economics Blog

Stimulus checks were not the answer and are not the answer. If someone believes in using them, however, they must save the money when times are good to spend on them when they choose to. The current administration did not do that (running the largest deficits ever – the largest increases in taxes on the future). And Senator Obama has made no plans to run a surplus to pay for such spending. At least he did propose to fund his spending on stimulus checks.

6 MoneyEnergy

I hope Obama brings in some really good economic advisers – too bad it can’t be Ron Paul – I’m not sure what to think of this. My reaction is to think that Obama’s smarter than this move.

But regardless of where it comes from or how, I think a stimulus check is a bad idea: recall the parable about teaching a person to fish instead of just giving them more fish? That’s what this is about.

7 Jarhead

We should not have a windfall tax. Where would we draw the line? What needs to happen is a whole rewriting of the tax code across the board. Make it really really simple. Just a straight flat tax. No write-offs, no loopholes, nothing just pay XX% of everything you make this would be for individuals as well as business.

8 Ryan

Braunn,

Great comment. I agree, with your assessment of big oil. But the overall situation is much more complicated than I can sum up in a brief blog post, though I think you did a very good job.

I think getting rid of some of the numerous tax breaks the oil companies enjoy would be a great place to start. Like you, I would much prefer using the funds for renewable energy or other programs that would have a more permanent impact compared to a goodwill gesture or attempt to buy votes (I don’t think $1,000 will make much of a difference on the economy, but it could influence votes).

9 shadox

Windfall tax! What a sad joke. In a capitalist society, why is it that some politicians claim the right to tell an honestly run business when they are making too much money?

Besides, who is it exactly that will be paying this windfall tax? Is it not folks like me and like you who own index funds that include Exxon stock? Is it not your pension fund investing in corporate America?

Enough with the populism. Enough with these so called stimulous plans.

The economy is having a bit of indigestion from the crazy housing bubble we just went through. Want recovery? How about stop sending people checks and start making some sound policy decisions?

10 deepali

I am by no means an expert on this, but wouldn’t it make sense to repeal credits, subsidies, etc that oil companies receive (where they really make their profit!), and use that for credits/rebates/whatever for energy efficiency/conservation measures? IE, a credit on using wind power, a subsidy for energystar appliances, etc.

The only government assistance I think oil companies should be getting should be for renewable resource and sustainability research.

I also don’t like the idea of giving people $1000 to spend on whatever. High prices serve a purpose – you’re going to have to learn how to conserve. Not a bad lesson to learn, IMHO.

11 KLCtheBookWorm

Stop the tax breaks the oil companies get and we shouldn’t need a windfall tax for more income to the government.

But a second stimulus check is a bad idea. What about spending that money on something like the New Deal programs? Our bridges and other infrastructure need repairs or upgrades, why not create work programs to build and have people earn more money?

12 Ryan

Shadox,

I agree – a windfall tax is not the answer. Unfortunately, too many people want to point fingers at the easy target.

I would much prefer reducing the tax breaks and using the money to create jobs and other programs that will help the economy on a more permanent basis.

As for the current economic situation, I think we will get out of it. It just might take awhile. But our culture is largely one of instant gratification, which is a substantial part of why the economy is hurting.

13 Dividend Growth Investor

I also disagree that Exxon Mobil should pay a windfall tax. Sure the company returns billions to investors each year. But most of you forget that 52% of XOM stock is owned by institutions and mutual funds, which means that almost anyone who holds a large cap US domestic mutual fund or an etf is an investor in this company.
As for a $1000 stimulus check from Obama, i think that his would be another great way to further stimulate the economy. But how many tax breaks can we really get? Let’s pay the deficit first, shall we?

14 Erik

It’s not the answer now, and it wasn’t the answer in may.

Lowering taxes stimulates the economy. People dedicated to getting out of debt and saving more money stimulates the economy. Why? Because they are in a better financial situation, and they’ll have more disposable income to spend or invest someday.

15 Dot

As I sit here and read all of the folks that disagree with a second stimulus payment, I have but one question. Did any of you that dont seem to need that extra kickback, refuse the check, or donate it to charity? I know I benefited from it greatly. I dont live on public assistance, work my tail off to support 3 kids and the extra cash flow helped me pay some bills. Besides, if the United States can help other countries because thats our motto, why cant help each other? What ever happened to help our fellow man..some of you act like taxing a company thats already well beyond rich is such a bad thing. Why not have them give back to its own?

16 Dan

Sounds like election posturing to me. Obama is doing two things (whether intentional or not):
1. Promoting class warfare: Those mean “Big Oil” companies are making just too much darn money at the expense of the average citizen. In reality, it’s far more complicated than that. But scapegoats are often created to garner a suffering public’s support.
2. Bribing the voters: I’m gonna give every family a 1000 bucks!! Now vote for me!

17 SHIRLEY GARY

TODAY I READ WHAT PEOPLE ARE SAYING ABOUT THE SECON STIMLULUS CHECK AND WAS NOT UNDERSTANDING SO MANY DIFFERENT VIEWS BUT NOT FOR THE PEOPLE BUT FOR THEMSELVES. EVERY ONE HAS A VIEW AND A SAY YET ITS THERE SITUATION THEY ARE RESPONDING TO. WHY NOT HELP THE PEOPLE A SECOND CHECK IS SOMETHING TO HELP SOME PEOPLE WHO CAN,T AFFORD THE HIGH GAS AND FOOD AND MEDICAL WHY NOT GIVE A SECOND CHECK DON,T WE AS AMERICANS DESERVE A SECOND CHECK AS THE PEOPLE WHO ARE RAISING ARE GAS AND FOOD AND MEDICAL.

18 SHIRLEY GARY

I,M GLAD THAT THERE IS A PERSON LIKE YOU WHO UNDERSTANDS. SO MANY ARE NEGATIVE TO THIS. ARE THEY THE ONES WHO ARE RAISING ARE GAS AND FOOD AND MEDICAL? WE PAY ARE TAXES AND WE HAVE TO LIVE WITH THE INCREASE OF GAS,FOOD AND MEDICAL SO LET THE PEOPLE HAVE A SECOND CHECK.

19 Ryan

Shirley,

Thank you for taking the time to comment on my website. I understand your point of view, and I appreciate those who need additional income to combat rising energy and fuel costs. However, this is a temporary measure and will cost the government and future taxpayers more money in the long run. Basically, this is equivalent to the country living on credit cards to finance the life we want, not the life we need.

You can read more about why I believe a second economic stimulus is a bad idea.

20 Mary

I think it is a good idea to send out another stimulus check to the American people. In this time of need, we really need some help somewhere.I also think that the oil companies have made enough money off people. It is time they share the wealth a little bit. I hope they are taxed and taxed and taxed again. They are ridiculously rich and they need to realize that they have had huge profits and they need to give everyone a break, and if it means for them to be taxed, then do it. Because due to the high gas prices everything is becoming more costly, and their is only so much you can give up to pay for gas and groceries. If you cant pay alot of your bills because you are having to spend a fortune in gas and heating and groceries, then it is time for someone to help, and I think that if someone would help bring down the costs of oil then other high costs would start to lower.

21 Ryan

Mary: Thanks for your comment. I understand the idea that extra money would be helpful to a lot of people, but I don’t think taxing a large company simply because they make a lot of money is the right way to go about it.

Based on Obama’s plan, which I outlined in this article: Do We Need Another Stimulus Check?, the math doesn’t make sense. Obama plans to make permanent tax cuts, but under his plan it will take 5 years to pay for the first year’s worth of cuts. If it takes 5 years to pay for the first year of tax cuts, how will future years be paid?

In this article, Reader Comment: We Need a Second Stimulus Check, I went on to discuss how additional taxes on oil companies will hurt everyone, including consumers at all levels (and not just of oil, but products containing petroleum, and items that require shipping). In addition, this would hurt anyone that holds stock in the oil companies – which is just about everyone in the US that own a mutual fund or 401(k) plan, including many state and government pension plans.

I respect your opinion, but I think this plan is a short sided view by Obama’s campaign and is designed to get votes – not help people.

22 Dot

How can we even begin to worry about the future, when we cant even properly afford the present? We are not in the old days where its a normal easy thing to save money for college, vactions, and retirement. We are of the days where its a daily struggle to pay the normal bills. So if Obama sees a better option for now, I think we must go for it, and deal with the future as it comes.

23 Karen

So many different views. Now has anyone asked themselves why the government would choose to that particular time of year to send this check out? Do you think the government really wants to be responsible for people dying? Hence Obama saying for 4 months just enough to get through the winter months.

Chances are alot of these checks will go directly to heat. You can save on gas and food pretty easily. Whether you car pool take a bus or find other transportation. We can purchase second hand clothes, we can clip coupons. What we can not do is build a bon fire in our homes.

Lets tax the electric companies, the oil companies, the gas companies. They have all jumped on the ban wagon of getting rich off people. The economy will stabilize they can keep the same prices and they will just help us to get through a rough patch which many face.

The small businesses have suffered for centuries with taxes just making it (or not) did we give them tax cuts? I do not believe so.

Forgive me but if we are taxed out of the woohoo what makes them untouchable?

Maybe as a country we should stop trying to save everyone else and forgiving debt for them. Cash in and get what is ours. We have more of our tax dollars being sent to aid and rebuild other countries as ours crumble.

Why are we bailing out these mortgage companies? Only the strong should survive let them sell off like lots of homeowners are forced to do. Why not give them 2 choices while the country is in crisis all mortgage companies could drop the interest rates to 6 percent for a couple of years. Those with excellent credit down to 3 percent.Let them take the hit. That in itself would give many folks a break to stimulate the economy. Why deal with all the foreclosures and the cost that goes with it? Sometimes I think a little common sense would go a long way. If they choose not to go with that idea and bomb then so be it. Welcome to the small business world.

Just had to vent a bit!

24 Rick

I am not much of an economist but I think that taxing the oil companies in order to help the middle and lower class taxpayers is what we need. I believe that, especially this time of year, that $1,000 would be very welcome in most households.

25 Kristina

I don’t understand why people think that getting a second check is a bad idea. My family is suffering because of the gas prices and it is only going to get worse with the cold months approaching and electric bills going through the roof. A second check would help with the bills and did anyone remember that Christmas is right around the corner and this check would help families put presents under the tree for their children. I am all for this check and the sooner the better.

26 chante

If the Exxon is not tax then who should be tax to help the lower and middle class families.

Should the lower and middle class families be tax more money so they can pay for the stimulus check.

Everyone saying the second check is bad was waiting for the mail man just like the other poor families. Being a mother working hard every day I will love to receive another check so I may catch up on bills and buy my children things that they need. A $1000.00 is not a lot but to a family in need it can greatly help.
I didn’t hear on the news about anyone giving the first stimulus check back, because they felt it wasn’t a good idea. The American people help build schools over seas in other countries. The American people help feed the families that are hungry in other counties but now when The America people is hungry we can’t, don’t want to feel our own; that is stupid. Some might thing Obama is trying to win votes he don’t have to he’s running Against dumb and dumbest. I believe Obama is trying to find away to help the American people and get us out the mess that PRESIDENT BUSH got us in. I know I would greatly appreciate another check.If times keep getting harder the more jobs American people will lose the more houses will be forclosed on the more homeless and hungry people there will be in American. And I know as a mother and a goodhearted child of GOD there is no way I could look in a childs face and see that child go hungry because I don’t think taxing a gas station is right. How do you think the people who own the gas station is living. I bet their not living check to check. But After you lose your job let’s see if you’ll not at the mailbox everyday looking for the second stimulus check,Obama would be the greatest person you knew after you reiceve that check and mow your lights are not getting turn off. I also agree that the money should be used to start more jobs that would be perament but why don’t the government raise min. wage to aleast 10.00 if not more it is impossible to pay rent and eat off of whatr min. wage is. But befor you all say the stimulus check is not a good idea put yourself in the shoes of a child when your mother say theres nothing to eat today you have to wait until tomorrow morning when you go to school to eat. If you have ever been hungry and couldn’t get food fast enough and your stomach hurt so bad you would have pain well a child feel 100 times worst and a child dont understand he can’t eat because we don’t want to take money from a person company who has so much.
Before you down the check please think about not only yourself but children.

27 Sandra

I think that another stimulus check would help out alot. The first stimulus check was ok but, this time it would be nice if this one can pay off all my debt!! sooooo, help the needy and not the greedy.

28 Qwnbee

I think a second stimulus check would be a good idea. I understand both point of views, but right now people are having real hard times, with high gas prices, rising food cost, high housing cost, ect. A $1000 can help alot of tax-paying Americans.

There are alot of “hard-working” people that are struggling to keep food on the table, a roof over their heads, and put gas in the car just to get to work. I know single mothers working 2 jobs trying to make ends meet. Its also a shame when there is a 2 parent household, both parents working 2 jobs, and still struggling to make ends meet.

We are always having fund raisers and providing govenment aide to outside countries… Now is time to help our own.

29 working mother of 2

Hello all I dont see why almost everyone is against the 2nd stimulus check. I have 1 job and i get the most hours i can get. I almost need a second job just so i can get thsere thing. I dont even make enough to pay my rent or my lights on time. My fiance is on unemployment and he doesnt clear much. So christmas is going to be hard if we even have one. I could use the 2nd stimulus check. And as for the oil companies they have millions and millions if not billions of dollars. So i think obama should make them pay higher taxes.

thanxz, mother of 2

30 paul

I think if the government can bail out wallstreet, why not send each american another stimulus check.

31 sue

I was just wondering if there is going to be a second check coming out to the public stimulus.

32 Diana

I hope Obama gets in and I can’t wait to get that second stimulus in the mail! I am a mother of two and I work full-time. Everything costs more now a days and the rich fat cats at Exxon/Mobile are the least of my concerns and shouldn’t be of anyone else’s either. Do you think they give a crap about you and taking your money at the pump? I think not.

33 Ryan

Sue: There has not been an official decision yet on another stimulus check.

34 Ginger

A stimulus check would help. But I hope they do their homework before sending them out. When I received the first one I thought would recive the $600 since I’m 72 years old, divorced and still working as an elected official on call 24 hours, my salary is $1,000 a month and my health insurance is provided by the city. I don’t use my Medicare as my primary insurance, it is used as my secondary insurance. When my check came it was for $300. Don’t get me wrong every little bit helps, but when you pay someone $600 that sat in jail for a year and a half, I don’t think thats fair. When you pay someone $600 that works the same as you, but draws more SS and her husband’s retirement check, I don’t think thats fair. Give the stimlulus check to those that need it.
Thank you,
Ginger

35 Ryan

Ginger: The stimulus checks are based on taxable income, not on need. Though I understand your viewpoint. I’m not sure if we will see another stimulus check or not, but there is a decent chance that we will. I will be sure to write about it if we do.

36 Ciara

I’m all for receiving a 2nd stimulus check. I’m only 21 and for real I really don’t understand all this tax talk but I do know that $1000 in my pocket would be right on point.

I can say that if the oil companies are making close to $1500 a second they should want to give us working people a piece of that money once a year anyway just to thank us for letting them scam us.

37 David

When will they start sending out the next round of stimulus checks? If any one knows, would you post this info. Thanks

38 Ryan

David, the government hasn’t passed a second stimulus check at this time. If one is passed, I will be sure to write about it.

39 Anne

I recently wrote to CNN to check into this matter.
There was a whole group of people left out of the distrabution of the stimulus checks. Every child the age of 17 on last years taxes.
Not only were they left out of that, they are no longer a qualified child on their parents taxes.
This is a large group !!!!!!!
How unfair to not include every senior in the country in this. Just when expenses are high in their senior year, to preparing for their college. They are penalized.
Where is justace?

40 momof6

I strongly agree. We are a working family with six sons and our money is very tight. I used the stimulas check to pay some of my bills.
I think it would be a great idea

41 Ginny

I would love to have another stimulus check. I know it won’t help forever, but the thought of keeping our heads above water for now would be nice.
But, if I owned a successful company and was the one made to pay for everyones check I probably wouldn’t like it a whole lot-that is if I was selfish and greedy.
There is only so much money a person needs, and being a successful company deserves the right to have a bit of the high life and frills-no doubt. It’s just that the average joes out there in the real world need it a lot more than those gas folks.

42 joanne

i think a second stimilus check is a great idea,it might not help us that much,but it will help!

43 SANDY

I HOPE WE GET ANOTHER STIMULAS’S PAYMENT. I HAVE DAUGHTER WHO IS 19 YRS OLD WHO IS IN COLLEGE AND I’M SINGLE MOM AND WORKING TRYING TO PAY BILLS AND TRYING TO HELP PAY FOR HER RENT AND HELP HER WITH HER GAS AND FOOD BECAUSE SHE CAN’T WORK OTHER WISE SHE WOULDN’T GET A GRANT TO HELP HER WITH HER SCHOOLING BUT I GET TO CLAIM HER UNTIL SHE IS 25? BUT DON’T GET CREDIT OR STIMULA’S CHECK FOR HER AND SHE TRAVE 4HOURS 1 WAY TO GO TO COLLEGE.I DON’T HOW I’M GOING TO HAVE CHRISTMAS PAYING ALL OF MY AND HER BILLS. THIS VERY HARD TO DO. I WISH I COULD TELL HER TO QUIT SCHOOL BECAUSE I CAN;T DO THIS ANYMORE THIS IS JUST TO HARD FOR ME.

44 Military Wife

I am all for the second stimulus check. I am a military spouse and also a mother of three and we are just making it but with Christmas just around the corner it is going to be hard. We have one income in our house and it is hard even being in the miitary. We can all use that extra money at this time of year when everything is high priced and no matter what you do for work everyone can find good use for that check no matter if they disagree with it or not. If you disagree with the check and what Obama does he is just trying to boost our economy and help needing families in a real time of need.

45 TARA ROBINSON

AS OF TODAY 11/24/08 HAVE THERE BEEN AN AGREEMENT/AAPROVAL OF A SECOND STIMULUS CHECK?

46 Ryan

Tara, As of today, there has not been another stimulus check approved.

47 Tonya

we need it

48 jimmydean

It’s time for a C.H.A.N.G.E. Lets hope the man does what he says he’s going to do for us. time will only tell. did we screw ourselves when we voted for him? {I don’t think so} let’s hope not.
but let’s see if he is a man of his word. CHANGE? time will tell for YOU & ME & THE AMERICAN PEOPLE.Who make this country what it is.

49 Dick martin

Don’t blame me I voted for Palin

50 Margaret

I think that giving to the poor is a good idea. The Rich get richer, while the poor get poorer. There is people lossing their jobs, filing bankrupted and families going without food. I see this everyday. We do need a another check, to help us poor people get caught up on bills and buy food. and for the person saying things about people getting walfare, if they are getting walfare or any other benfits, they must need it.

51 Jen

YES I AGREE!!!!!!!!!!! I if I could buy a new car I would. Bailing wallstreet out and all the other companies out isn’t helping me any. What about us the ones that bust our butts, trying to get ahead and always get kicked to the wayside. What do we get? Who’s going to bail us out….as it sits NO ONE!

52 Jen

I think a second check would help. I would be able to pay off some of my bills. Its all right for the rich to get rich……its all pipe dreams here. The rate this economy is going I will never get caught up.

53 K.T.

I agree on the second stimulus checks. My husband got laid off. We have 2 kids. A 3 year old and a 7 month old, with just my income its very hard. The $600 came in handy and I know the $1000 will come in handy also. Everyone has there reasons of need, so i feel like the rich shouldn’t even comment on whether we need a second stimulus check. They are benefited year round.

54 dena

Any extra check will be great , however a $1000.00 is not enough to even cover general house-bills with every-thing going up we americans tax-payers all americans need tax credits to keep more of our money.

55 Renee'

I think a second stimulus check would help the American people greatly, although I don’t think 1000 dollars is enough… I don’t know where the money comes from or have a philisophical response like most others have submitted, I’m just a regular average American who bought our first home last summer and trying to stay afloat in an expensive world. Us Regular folk are drowning out here trying to provide food to our children and pay our bills and have gas to get back and forth to work everyday. If we could get that second stimulus we could pay down some bills created by high gas prices and increasing food costs henceforth decreasing some burden off our shoulders long enough so we can get back in the game and stay on top of things. One thing is of utmost importance, there should be a fuel cap so prices cannot surge any higher or an immediate SUBSTANIAL pay raise for everyone across the board. Like I said before I don’t pretend to know how to make any of this happen or where to get it (the money) from to do all of this. I just want to extend again…… WE NEED HELP ASAP!!!!!! SOS SOS SOS SOS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Please agree if any of this sounds familiar to the rest of you…………..

Renee’ W. ~ Pikeville, Ky.

56 Andy

It’s strange how Obama has back flipped his campaign promises in that this stimulus check is now a tax rebate, rather than a direct cash payment. Still. I do think it is a better fiscal stimulus than straight checks.

57 Debra

This is my take on the stimulus check, Our economy is shot to threads and we have to do something to fix it. We are definitely not the nation that we once were when we were initially founded. My big question is for all of you who go this stimulus check the first time.Why are griping about getting a second one why? Did you not enjoy the money you got and I know have spent by now? I mean I enjoyed it. Whether it helped us or not I think we need to let Washington do its job and try and figure out a solution for this problem we are in. And in the mean time I think we as Americans need to pray that our country and economy gets fixed and quick before we are completely bankrupt and owned by another country.

58 Imani

Re PE Obama’s plan to give tax breaks of $500 (single) or $1000 (family), will it really make much of a difference to any individual or family?

Remember we will have to pay all that money back with interest. And not only will WE have to pay it, but so will our children and grandchildren.

I say skip that part of the recovery and invest in jobs only.

Just my humble opinion. Better we all take a good hard look at our expenses and cut back.

59 Ryan

Imani: I don’t think it will make much of a difference to most people, especially because he is proposing that it is distributed in the form of a tax credit which would reduce the amount of taxes withdrawn from the first few paychecks of the year. This would not be a check like it was in 2008. Personally, I believe investing in jobs and infrastructure is a better investment.

60 weatherr

I feel asthough we should get a stimulus check. I’m barely able to make it to my job by the end of the week without borrowing money. I think Obama will be fair to all people.

61 Shell

I would love to have the money too but if it’s not in the form of a check that we get all at once, it’s not going to do me much good. Yea I’ll have a few extra dollars in my check every 2 weeks but that doesn’t add up to much in the short term. Everyone against this has every reason to be but at the same time, everyone who is for it has reasons too. My husband and I are making due even though we can barely pay bills and buy food and gas, but we are making it work. I agree with those above who said that those who are complaining about the stimulus idea didn’t mind getting their checks when we got them the first time. Right? Whether we get something or not, there has got to be a better way to run things so that everyone can live comfortably, not necessarily be rich and all that, but be able to pay bills and stuff, with out screwing up everything. Taxing big companies such as oil companies might be a good idea but why not other companies that make billions too? I can’t think of anyone off the top of my head but there are more out there than just Exxon/Mobile that are making just as much money but we aren’t asking them to contribute.

62 Ryan

Shell: Great comment. Many people are only for one side or the other, but it’s good to see people look at the situation objectively. I agree with you – a stimulus will be much more effective if it is given in a lump sum versus a small addition to a paycheck. Most people won’t notice a small bump in pay, and will go on as they were before. Or worse, they would become used to the additional money and begin a new spending pattern that relies on that additional income.

63 mel tehee

We have given billons to the people at the top of companys- oil,auto,banks and ect. and today no one can afford to buy what they offer. Give the money to the people who will pay for any(stimulis) If enough is given the foreclosers would stop and people would start buying.
End of problem!                                          

64 Imani

Following along, I agree with mel tehee’s idea. Let US decide whom to bail out by splitting the billions in the President’s stimulus package to ordinary tax-paying Americans (and legal immigrants who pay taxes). Although, I also believe something should be allotted to those who don’t make enough to pay taxes, as well.

Those who need it to catch up on mortgage payments, utility bills, food, or medical bills will use it thusly. Those who don’t, can bank it and save for rainier days or maybe buy that new car or refrigerator.

I am just advocating a different distribution of the money President Obama wants to spend to kick start our economy. More for the people and less for banks and big business who just used the money to line the coffers and pay out big bonuses (not to mention office renovations to the tune of 1.2 million….really!

Thank you for this opportunity to express my views.

Imani
~I vote~

65 Sharon

Why is it such an easy fast thing to release billions of dollars to the banking industry so they can redecorate their million dollar offices and give each other bonus pay plus buy other banks in other countries which none of those helps our economy in the least…. They don’t have to account for how they spent the money, they did whatever they wanted with it and stuck their hand out for more.

All this while still not opening the financial doors to let the economy move again by helping people get mortgages, which helps a long list of people in multiple fields? When people can’t get mortgages, Realtors, mortgage agents, insurance agents, appraisers, home stagers, etc etc don’t make money. They in turn can’t sped money to all the people who usually get it from them. I fit in that next category as a graphic designer, they can’t afford to hire me to design their advertising. In turn, I can’t spend money where I normally would… and it just continues down the road.

Until you get the banks to open the doors, our economy will continue right on down the road it is going.

In the mean time, last stimulus check didn’t work because people didn’t get the money they were supposed to get. I am a single mom of two kids and was supposed to get $600.00 and only received half of that. I jut claimed it on my taxes to still get it. I wasn’t the only one that was told I would get one amount and received another.

A second stimulus check would help me get out of the hole and survive as I try to keep my head above water until everyone else is making enough money for us to get back to business as it should be. Right now I battle every day to keep the power on and the phone etc and not have my family evicted for paying the rent late yet again.

The stimulus check is a life line to hang on until the banks open the freaking doors again. Until they lend money gain instead of stuffing it in their own greedy little pockets, we stay the way we are. Do we have to give them money, sadly yes, just put conditions on it this time like they should have done before. It amazes me the stupidity with which that was handled, no conditions! What were they thinking???

We could already be on a better path if conditions had been set. “Here’s the money as long as it is used for these items and nothing else”…. here’s your sign.

66 Kristin

As to some of the comments up top i agree with the stimulus 2nd check. I mean do you people HONESTLY think Obama and the GOVERNMENT don’t know what there doing and getting there self into with that much money.. Obama has got to do something drastic and fast because BUSH did his DRASTIC, SLOWWWWWW over 8 years. Now that Obama is in the house he doesnt have 8 years to get it back on track he has to make a move to get it going that way and act fast but hes not going to be able to make it complete in 8 years.

I also dont see nothing wrong with charging the rich more, charge them. Your well off you got everything you want and got millions in the bank. I mean commmon, so die with millions in the bank. Thats whats wrong with AMERICAN people they are Selfish and Greedy to the fullest. You only live once and if it wernt for God you wouldnt have it no way. Just think for all those filled with RICH if GOD were like that and never wanted to give to the poor and middle class and didnt care for them this WORLD would be Something. Words cant even explain it.

67 Imani

P.S. It is not “Obama”, it is President Obama! Show the man the respect he is due.

Thank you for this opportunity to express my view.

Sincerely,
Imani
~I vote~

68 CHris G

You are out of your mind, the stimulus check is a fantastic idea and is well needed for people who are in the lower-middle class bracket. Helps pay off bills, feed faces, buy plane tickets for students to go see their family, and so on and so on. Our money is taken from our hard earned paychecks by the goverment and you know damn well they take too much! To get a measly $600 back of our hard earned money, it is a blessing. We slave everyday to work so we can live.

Some of us hardly work, in which I don’t think they should receive as much back as $600, perhaps the stimulus should be based on amount of hours people work a week. Cause as you all know, the more you work, specially if you are hourly, the more get’s taken out of your pay. So why lose money when you are busting your tail???

Long Live the Stimulus! I think it should be twice a year…

C

69 CHris G

PS.

Sharon, GREAT POINT!!!!

Hope all get’s better for you and your family.

C

70 Ryan

CHris G: you do realize this money is not free money, but an advance on your 2008 tax return? Had you not received the stimulus check you would have received a larger tax return this year.

And the government doesn’t take taxes based on how much you work, but on how much you earn – regardless of how many hours you put in.

71 Imani

@CHris G.

I’m in no position to judge you or anyone else. BTW, I am also in the lower middle class, raised two sons with much lower than legal payments from their father, sent them to private universities because they worked their butts off for their grades. They have loans and I paid every single dollar I could, making many sacrifices, including nothing more than 60 degrees in my home during winter, eating beans and rice, etc.

Almost lost my home twice. Bankrupted my 401k, paid the penalty and the taxes. Somehow, I pulled it off with the grace of God. I have not one single dollar of debt other than my mortgage and I never took a single dollar out of my equity.

Still, I would gladly give up the $500 reduced taxes if it means saving my sons and all our children a much BIGGER tax in the future. If you give up cable tele, you could easily save that and more. I did. As for what I did with the $600 of this year’s rebate, I immediately socked it away in my newly established ING account.

Could I have used underpants that aren’t stretched out and falling apart? Sure, but I am opting to save so I don’t have to hold out my hand to the government or anybody else when things really get ugly.

Again, I don’t want to start flame wars here or anywhere. Just that I worry about the long term ramifications of this stimulus package.

Maybe it would be an idea to offer Americans the option to not take it. In that way, those who must have it can, and those who can survive without can offer it back to the government/job creation. Seems a good compromise to me. Let me be the first to give it back.

Anyway, CHris, I hope things will get better for you and your family. Really, I do. Times are tough for all of us.

PS, I supported President Obama from the start and still do. Still the dollar amount of this stimulus is something that scares me, not for me, but for our children/grandchildren.

Thank you for the opportunity to express my views.

Imani
~I vote~

72 Josh

Stimulus 2009:

I am 23 years old with 2 kids and a wife…the economy is in a struggle and losing fastly…we are not the fault for this but an error that occured over time and now it falls on us as we struggle with the layoffs and no jobs…its a sad thing when you look at your wife and kids everyday and are too proud to tell them you are negative in the bank or dont have enough money to buy a rose on your anniversary…a stimulus check is needed and not needed…the bad thing is i am LOW class…most people who say they dont want it have either never been where sum of us are or are not low class citizens…you tell me how 15000 a year is supposed to pay 10k in bills alone (rent/land/electric/natural gas/phone/water/sewer) That my friends is not including gas for your car/FOOD/diapers/formula…so when saying no to a stimulus think about those that are 1 paycheck behind…a stimulus check would help put that 1 paycheck behind to 1 paycheck ahead if used right and enough was funded…on the other hand a stimulus check is not needed but a RAISE in hourly rates…i cant find a job right now for over 7 hour…minimum wage is $6.55 LOL wtf is that?? that is for high school kids and part time college kids…when a person has a family they cant make it off that and thats why a lot turn to illegal means…i tough my situation out day-to-day and tell my family we will make it…the government has bigger issues overall…1 being Border Security as a lot of the jobs down in the south are ran by mexicans and cut the american workforce down which raises unemployment…there are a lot of issues on the table for Obama but HE WILL HELP!!

last and all i will say again the stimulus check is a good and bad idea but the way times are even though the longer effects i have to say i really need a stimulus check as we enter a possibly neverending depression/recession

for a stimulus check to work $300 per person is not enough even in my situation…$300 x 4 = $1200 which is not even enough to pay 1 month of my bills unfortunately and with the layoff it would go towards food and my families needs before my bills…

Josh

73 Imani

Josh,

You are not low class. You may earn a low wage, but that surely doesn’t make you low class. You seem to be a man of great integrity. Maybe some help is just around the corner….

~Imani~
I pray for your and your family.

74 Ryan

Josh: You are NOT a low class citizen, and don’t let anyone make you think otherwise. Having a low income is not the same as being low class. By your comment you are a hard worker and a loving family man. While you may not make a lot of money, you have that much going for you and that is more important than anything.

I don’t have answers for you though. I can’t give you a job or tell you one is around the corner. But I can pray for you and your family, and I will. I wish you and your family the best, Josh. God Bless.

75 Josh

Thanx for the support as me and my family pray to all those that are in need…and both of u are right…i just got upset seeing some of the blatent comments not thinking how the economy struggles effect everyone whether they may realize it or not…god bless all

76 Sharon

Now we just have to hope they fix the stimulus plan in the senate because as it stands only 20% goes out in 2009 and most of the bill has nothing to do with stimulating the economy.

I’ve noticed that the dem are trying to make it look like the republicans are trying to stop the bill for foolish reasons and that isn’t the case. The republicans are the ones trying to cut the crap pork bills out and concentrate on making the stimulus package actually do as it is supposed to do.

77 Sharon

Do a Google NEWS search for “stimulus pork” and sort it by date.

78 Ryan

I agree, Sharon, there is no room for pork spending in a bill like this.

79 Michael

I’ve often heard/seen about how the bad old oil companies are getting these tax breaks/govt subsidies and we should just stop letting them because they are getting rich ripping us off….Get real people, oil companies get no more tax breaks than any other business that I have been able to find out, if you can name one that is specific to oil companies only, please post it. The only business that I can say with relative certainty gets “more than their fair share” in govt. incentives is the country’s railroads..but they have to keep those rail’s in good repair in case the govt. needs them, so it’s a trade off.

80 Washington state

Anyone here commenting that the stimulus check is as dumb as the firs tone, I agree. The only advise I can give is to get used to stupid decisions because that is all we are going to have for the next 4 years.

81 Lara

Look people… politics and philosophical fairness aside, a check like this could put food in a child’s mouth and a roof over their head for another month or so. Long enough for their parent(s) to find a new job if they have lost one. That counts a little bit more than kissing Exxon’s behind for now. Poor Exxon. Right. Kthx.

82 ashley atwood

I THINK THAT PEOPLE WITH ALOT OF CHILDREN 1 OR TWO OR MORE CHILDREN SHOULD GET ATLEAST $900.00 IN CASH.

THANK YOU,ASHLEY ATWOOD

83 katrina

what’s killing me is all these promises we have been getting about tax breaks an jobs coming. what about the feloners such as myself that has done our time,paid our fines an has not been in any trouble for years.. i have four children two disable an i cant get an job anywhere cause of the felony. I’ve gotten my nursing license an still cant get an job. don’t feloners deserve an sec chance? especially ones’ like myself who is trying very hard to do the right thing.four kids’ and single it’s very hard. forgiven never said forgotten just guide me I’ll lead myself the rest of the way.help single mothers’ plea.

84 Ryan

Katrina: I don’t have an answer other than to say keep your head held high and do the best you can. I know you mentioned you have training as a nurse, but see if there are any other work force or training programs you may be eligible for. If you qualify for it, a little extra training may help you secure something. In the mean time, the only thing I can offer is moral support. Best of luck to you and God Bless.

85 Beverly

I think Obama should have gone to people like Bill Gates and Donald Trump, and their ilk, for advice. Matt Romney too, anyone who successfully ran a business without bailouts. These people in the House of Representatives, what kind of experience have most of them had, to the point that they can figure out how to run the country economically.

86 Ryan

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The stimulus plan has passed, which can be read about in the following articles:

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