« GM workers’ strike | Main | Judges and politics »

May 08, 2008

Rebate not so stimulating

A senior retired couple can still end up on the short end of the stick.

Uncle Sam cuts the couple, who have a combined income of less than $75,000, a check for $1,200. That’s good.

Let’s say they aren’t investors but have $100,000 in CDs to supplement their retirement and Social Security checks. If they renew their CDs from a rate of 5 percent a year ago to the present rate of 2.25 percent, they take a hit of $2,750. That’s a net loss of $1,550. That’s bad.

Some people just can’t win, and that’s not stimulating.

Joe F. Dragosh
Independence

Comments

joy

Joe, what is your opinion of the economy now? How could anyone do better than our current President?

You have always had interesting comments. I may not agree but I enjoy to hear your thoughts

Joy HH

jack

Even though he is not who I would vote for if the election were today, an extremely contradictory part of me has begun to hope he wins. I want to see if the world ends on election night if this happens.

Bet it won't.

T. Hanson

NMMNG has changed my mind... I think we need to set up a fund to help those poor oil companies. Why do we pick on them so much.

Please donate to the Oil Funds Owed For the Future (O F OFF).

Cheney thanks you.

NoMoreMrNiceGuy

Well Joe, the oil companies are not fairing much better with their single digit returns.

http://www.hollycorp.com/investor/hollycorp.annualreport.2007.pdf

NoMoreMrNiceGuy

Oh but Obama's "tax credits" for the select few that "qaulify" no, that's not vote buying.
It is really entertaining, that if when a Democrat hands out freebies, it is noble but when a Republican gives back money to those that actually PAID into the tax base, they are evil.
I say do away with Child Care Txa Credits and Earned Income Tax Credits, those are simply in place to buy votes just like Nancy P's foodstamp stimulus proposal.

Casady

I'm not necessarily sure I understand Mr. Dragosh's correlation between the tax rebate and a reduction in the interest rates on CDs. Is he insinuating that the rebate results in a reduction in interest rates? Now that's bad

Stifled Freedom

Countrywide still pays 4% on thier internet direct accounts.

The stimulus had nothing to do with stimulus. It was vote buying by Republicans....and they used your money to do it.

jack

This isn't a "stimulus check". This is a "keep things afloat until I can get out of office" check.

NoMoreMrNiceGuy

At least you have the choice to invest, there are other more agressive vehicles you can invest in. You don't have a net loss, just less capital gain. You also may want to check around at various banks to get the best rate on CDs. Bank Midwest offers 3.50% on a 60 month CD. Take a look at Bankrate.com and you will find more CDs with higher yields. At least you gain interest and have control over the investment, you could have that $100k tied up in the social security scam with no control over it and when you die, it goes to the pork barrel spenders.

 
About KansasCity.com | About the Real Cities Network | Terms of Use & Privacy Statement | About Knight Ridder | Copyright