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Explain this "$1000" check I will get


Widder, SASS #59054

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If I get any $$, its gonna be spent.   I don't know if I'll buy me a new pistol

or put some nice LED lights on my ATV for night riding.

 

Might buy me a night scope to reap havoc on coyotes around this area.

 

The Bunkhouse Boss will probably want to use it to rebuild the deck on the back of the house.

 

One way or another..... I'm gonna spend it.

 

..........Widder

 

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Yup.

 

$1000 spent on new firearms to help restimulate the economy.

 

I'll do my part.

 

:D

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This is literally money created out of thin air and a wish.

 

$500 billion dumped into circulation has to create inflation like we've not seen in living memory.

 

Just for an example, let's use 5% as an inflation rate. That means that any money saved or invested is generally reduced in buying power by a comparable amount. If you had $100k in savings, the buying power of that money gets driven to an equivalent of $95k -- a loss of $5,000. If your income (from whatever source) was $50,000, the buying power becomes equivalent to $47,500. And so on.

 

The beneficiaries of inflation are people with outstanding loans and debts. A debt of $100k could be paid off with money whose buying power has been reduced to $95k. Big debtors benefit even more, and HUGE debts (in the trillions, say) benefit even more.

 

The result is that inflation is a way that investments and wages are essentially taxed, without the government actually forcing you to send them money.

 

The problem is, given the circumstances, there doesn't seem to be any other approach that would be better.

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12 hours ago, Tyrel Cody said:

 

A Ruger New Vaquero? :lol:

No Vaquero's for me thank you!!:P

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The cynic in me is thinking this will (of course) be taxed as Income.
I am also wondering if it will be considered a "loan" and deducted from a future tax return.

We got a real nasty $9,000 surprise from Obamacare on our taxes...
I prefer not to repeat that again.

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