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Debit Cards were planned for the Economic Stimulus Package

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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:04 AM
Original message
Debit Cards were planned for the Economic Stimulus Package
This morning on C-span Washington Journal I heard Economic Committee member, Carolyn Maloney D., 14th dist. N.Y., say that she had tried to have the package issued in the form of a debit card to force the American workers to spend it quickly. She proposed having a short expiration date. She obviously cares deeply about the lower and middle class's ability to save for it's future.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:07 AM
Response to Original message
1. I Suppose You Could Open a CD and Pay With the Debit Card
After all, banks can handle that kind of challenge (if only just barely).
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kirby Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:07 AM
Response to Original message
2. The problem is...
You end up giving Visa/Mastercard banks the ability to get a chunk of every transaction. Automatically a significant chunk (several percent) of the $150 billion would go to banks just for fees.
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Uben Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:09 AM
Response to Original message
3. The idea of a stimulus
...is for people to spend the money, not save it. I think her idea is unique and would help the stimulus work!
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Kittycat Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:19 AM
Response to Reply #3
4. And what about those that need the money to help get out of debt?
Or keep from getting their electricity shut off?
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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:24 AM
Response to Reply #3
6. Or how 'bout paying thos pesky mortgage bills?
How 'bout letting the people decide how to best spend their own money. I bought cell phones through AT&T that had rebates. Those rebates were in the form of debit cards which was not disclosed in the terms.I thought I was getting a check. Also the cards were difficult to use.
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Kokonoe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:21 AM
Response to Original message
5. This whole plan is to give banks money ASAP
Give it to the people and tell them not to pay bills or put it in the bank. And then put it on cards that the banks collect the money on the cards.
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Ian David Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:26 AM
Response to Original message
7. I'm donating mine to MoveOn.org. n/t
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Xenotime Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 11:13 AM
Response to Reply #7
16. Good idea. I might have to split between DU and them
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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:28 AM
Response to Original message
8. What bugs me is that this came from a Democrat!
Time for a third party?
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NightWatcher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:30 AM
Response to Original message
9. why not pay us in single cigarettes, we can trade with them?
like they do in jail
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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:35 AM
Response to Reply #9
12. North Carolina politicians would love that! But we'd need wheelbarrows full of ciarettes to pay our
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flashl Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:34 AM
Response to Original message
10. Like the disappearing value of gift cards? nt
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:35 AM
Response to Original message
11. I'm taking whatever "stimulus rebate" and converting it to EU's.
Not giving a dime back to this worthless admin*
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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:37 AM
Response to Original message
13. mine would result in ONE transaction with said card
withdraw it all...and put it somewhere else...

sP
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Individualist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 10:58 AM
Response to Original message
14. DLCers only care about taking money from the people and giving it to corporations/businesses.
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canoeist52 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-29-08 11:11 AM
Response to Original message
15. just a heads up for the future
This may be something our government might consider in the future. Doesn't bode well for our financial freedom.
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