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Readers on Stimulus Plan: Bad Candy

Friday, 25 Jan 2008 | 12:33 PM ET

Well, a bunch of you weighed in on the stimulus plan. And of course, you hated it ...

Many of you thought it was the "sugar rush" type of plan ... a quick rush that feels oh-so-good but doesn't last:

It is definitely sour candy. It is amazing that we, Americans, let these self interest serving politicians run this great nation to the ground. What got us in trouble in the first place was people spending beyond their means and for things they cannot afford. -- Bob

The rebates are just going to most likely be spent on Chinese and other foreign goods-how much does that help the U.S.? -- Malott

Can you say cotton candy with red dye? Our deficits are already in the red. How can we afford more money creation? -- Stephanie

This so called stimulus plan is akin to throwing a cup of water at a 12 alarm fire. How does giving a rebate to certain taxpayers remedy the problems that led us to this crisis? How does it address the monster lurking in the basement, the global derivatives debt, which now totals over $345 trillion? Congress and Bush are just whistling as they run past the cemetery. It is at the same time calamitus and humorous watching all the financial talking heads urging the stupid investors to jump back into the pit of burning oil the global financial markets have become. -- Ann

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Others thought it would end up costing them:

Once again people who pay the most taxes will get little or even nothing in rebates. I am tired of paying for govrnment hand outs. Who do ya think is gonna pay for these????? Me! -- Scot

Definitely cotton candy.Just a flash in the pan which will pile more national debt onto the tax payers. -- John

I thought we were wrestling with the debt we’ve accumulated invading everyone in the middle east? This will reduce the government’s income, cause them to borrow more, we’ll go deeper into debt and the dollar will crash even further. Voila – instant inflation! -- Andy

Apparently my wife and I paid so many taxes last year that we do not qualify for the rebate because we made over 187,000.00. Wow, what a deal... We pay the MOST of all tax tiers.... And then they give it to people that didn't even pay any at all.... Wow, with math like that maybe I should just go and trade my BMW for some kids bicycle. Government wisdom = Foolishness. -- Brian

Retirees wondered why they were overlooked in the whole thing:

It is inconceivable to me that they left out all of the retirees in the country who do not work but many of whom pay as much taxes as the group who will get the rebate checks. Who would be as ready to spend that check as retirees or disabled citizens? It is also alarming to me that no one including the media has discussed this group that was left out. -- Alvis

Did I miss something or did the proposed stimulus plan exclude all retirees who do not have jobs? It seems like it takes 'earned income' to qualify for a rebate. Millions of retirees pay income taxes and would spend rebate money if they got it. I know I would. Can you clarify this? -- Richard

It wasn't altogether negative though.

I say it will be a little bit of both cotton candy and oatmeal. Any time the government gives you some money back, it's a good thing. Just how nutritious this will be all depends on how we digest it all. Well, I'm certainly not complaining about a rebate from the government. I'll use the money to pay down my debt and save the rest. Yes, I may spend some but not much of it. A small sugar rush can't hurt, can it? -- Brad

In my view, the plan may be just enough to keep us out of an official recession. Most of the opinions that I have read, expressed the thought that if we had a recession (official definition : 2 quarters of negative growth or contraction), it would be short and mild. The consumer is 70% of our economy. So stimulating the consumer, stimulates 70% of our economy. Select sectors such as housing will be in a recession but the whole economy doesn’t have to be. -- Don

Questions? Comments? We want to hear from you: youropinion@cnbc.com

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