$600 tax stimulus plan

[6string79]

So I don't know if you guys have heard or not, but most of the middle-class will be receiving checks in the mail courtesty of Uncle Sam. If you make up towards $75K as a single or up to $150K as a couple, and you paid federal taxes this year, you are eligible.

Singles will receive $600 and couples who filed taxes jointly will receive $1,200. I'm so excited.

So the question is..what will you do with your money? =)

I plan on feeding my newfound addiction for expensive wristwatches.


source: Taxpayers would get checks under economic stimulus plan - CNN.com

[Oh GAWD the Smell!]

Is this money going to come out of my refund next year?

Doesn't matter. I'll do the same thing I usually do with windfalls.

Hookers and blow.







Or you know...Put it on the mortgage or in the retirement fund.

[Midtowner]

We're buying a washer and dryer.

I had considered using the money to buy Euros, but that would be unamerican.

[Oh GAWD the Smell!]

We're buying a washer and dryer.

I had considered using the money to buy Euros, but that would be unamerican.

You don't say. Buying stuff from over there is bad for 'Murrica?


*Quietly puts Smithwick's back in fridge*

[Midtowner]

You don't say. Buying stuff from over there is bad for 'Murrica?


*Quietly puts Smithwick's back in fridge*

If you don't like it, giiiit out.

[Oh GAWD the Smell!]

Out of curiosity, why would you want to buy Euros when they're worth more against the dollar right now? Isn't that like buying gold (or stocks) when it's pricey?

I don't know much about how that particular aspect of money works.

[MadMonk]

I guess I'll do the responsible thing and pay off a credit card.

[6string79]

Is this money going to come out of my refund next year?

Doesn't matter. I'll do the same thing I usually do with windfalls.

Hookers and blow.







Or you know...Put it on the mortgage or in the retirement fund.

No, it's a separate check that could come as early as June.

[Oh GAWD the Smell!]

I guess I'll do the responsible thing and pay off a credit card.

NO! BADMONK! Buy shiny trinkets!

[Midtowner]

Out of curiosity, why would you want to buy Euros when they're worth more against the dollar right now? Isn't that like buying gold (or stocks) when it's pricey?

I don't know much about how that particular aspect of money works.

I'd be essentially betting that the current trend of the dollar declining compared to the Euro would continue.

-- probably a dumb investment.

[Oh GAWD the Smell!]

I'd be essentially betting that the current trend of the dollar declining compared to the Euro would continue.

-- probably a dumb investment.

Yeah well...So was my plot on the moon, but I got this cool certificate.

[OKCDrummer77]

One thing that's never been clarified in anything I've read on this: What about married couples with only one income? I worked last year, but my wife didn't (by choice). Will we get $600 because I was the only taxpayer last year, or will we get $1,200 because we're married? I'm guessing $600, but like I said, nothing I've read has addressed this.

[Midtowner]

OKC -- the way I understand it, if you meet the following, it's $1200:

1) Filed jointly; and
2) Made less than $150,000; and
3) Actually paid taxes (i.e., paid taxes rather than receiving more back than you paid in).

If you're filing as a single person, you get $600 so long as you make less than $75,000 and actually paid taxes.

Someone correct me if I'm wrong.

[6string79]

OKC -- the way I understand it, if you meet the following, it's $1200:

1) Filed jointly; and
2) Made less than $150,000; and
3) Actually paid taxes (i.e., paid taxes rather than receiving more back than you paid in).

If you're filing as a single person, you get $600 so long as you make less than $75,000 and actually paid taxes.

Someone correct me if I'm wrong.

That should be correct. He should only expect $600 unless he made more than $75K.

[6string79]

I guess I'll do the responsible thing and pay off a credit card.

That's not living the American dream. lol

[CCOKC]

The pres signed this bill today. Be warned that you must file a 2007 tax return to get this rebate. Go to irs.gov to find out all the details.

[Karried]

Thanks for the info..

I wonder what happens if you file an Extension?

[fromdust]

this is only designed to make us feel good. it will do absolutley nothing to stimulate the economy.

[FritterGirl]

Mine is going back to the place from which it came...the IRS! ;-)

[Karried]

Mine's going to Disneyland ..

(Disneyworld to be exact) ... that should cover about one day!

The whole thing is silly... stimulus package..ha!

I think it's ridiculous.. just a way to make us think they actually care and are working hard on a resolution for our ailing economy. And to make us believe that they are addressing the problem. A silly attempt to try to create a false sense of security and confidence in the health of our economy.

Most people will go out and buy a new big screen ... but of course, a big screen isn't complete without the Upgraded Digital Cable package, entertainment center, stereo surround sound etc, etc.. all amounting to additional debt to already strapped consumers.


Exactly, how is this going to help those unfortunate souls (greedy saps in some cases) who are losing their homes to foreclosure....? This won't even cover one month's mortgage payment for most people.

I think it's a silly idea.

[u50254082]

I'll throw in some extra cash and buy a bar of gold. Might as well have something that will hold its value when the dollar drops in value due to this plan...

???

[Oh GAWD the Smell!]

I'll throw in some extra cash and buy a bar of gold. Might as well have something that will hold its value when the dollar drops in value due to this plan...

???

Yup.

Because buying gold when it's at record high levels is a GREAT idea.

[dalelakin]

That should be correct. He should only expect $600 unless he made more than $75K.

Did I misunderstand that example? I take it that example he should recieve $1200.

Also isn't there an addtional $300 per child???

[Midtowner]

Also isn't there an addtional $300 per child???

yes.

[soonerliberal]

I wonder how many people are using this "stimulus package" to pay for some of their Christmas Visa bill.