Tax Rebate Deal Announced

[MadMonk]

Tax Rebates Deal Announced

WASHINGTON (AP) - Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
...
Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.

While I'm happy about getting a tax rebate, I'm a little annoyed that the rebates were lowered to accomodate a rebate for those who didn't pay any taxes.

It's like getting a cash rebate on a TV you never bought. Damned Democrats and their wealth redistribution!

[soonerliberal]

I haven't read much into this yet, but did either Pelosi or Boehner say how they plan on paying for this?

[Karried]

wow, I feel a new plasma TV coming on.. ha.ha. J/K -

More like putting into a savings account because I think it's (the economy) is only going to get worse with the housing debacle.

[CCOKC]

OK now that is not the point. You must, as a proud American go out and spend that money, in a store, that sells things, made in America. Go stimulate!

[Oh GAWD the Smell!]

I'm going to buy a new butt...Mine's got a crack in it.

[Easy180]

I'm donating mine to charity

Or just on meth

Haven't decided yet

[dismayed]

Latest reports are that folks making more than $75,000 a year will not be eligible for this rebate. And there we have it, now there truly is no difference between Republicans and Democrats.

[PennyQuilts]

Its annoying that non taxpayers will get a rebate but in the end, the notion is that it will benefit everyone by stimulating the economy. I thought it was interesting that Clinton's economic stimulus packasge was primarily a means to provide assistance to the economically disadvantaged (helping them with housing, heating oil, etc.). This is NOT the same thing and I think it is a very significant difference. This plan helps the poor AND the middle class. But the point is to give a shot in the arm to the ECONOMY, which helps everyone. Studies show that most economically disadvantaged don't remain that way - it is usually a stage of life that many go through (young families, for example). For the folks who remain economically disadvantaged as a lifestyle/generational situation, $300.00 every now and again isn't going to make one wit of difference in the long run. They'll go buy sneakers and leave it to someone else to pay their heating bill, groceries and rent.

[oneforone]

I am not a big fan of handing out money just because but, I think the extra money will allow people to take a vacation this summer, buy their kids school supplies and school clothes or start an emergency fund that will allow them to have something to fall back on when money gets tight.

I have a feeling you will see every retailer and car dealership begging for the rebate check money. I can see it now "Come on down to Billy Bob's, where you can use that rebate check on a overpriced piece of crap car."

[Midtowner]

wow, I feel a new plasma TV coming on.. ha.ha. J/K -

More like putting into a savings account because I think it's (the economy) is only going to get worse with the housing debacle.

Buy euros.

[Watson410]

I filed my taxes about a week ago, was i suppose to wait so i could get this rebate or will they just automatically send me the check.

[MadMonk]

This doesn't really have anything to do with your tax filings; it's a rebate, not a refund. You don't have to do anything but wait on the check.

[Karried]

Unless you make over 75K apparently, the check won't be in the mail.

When is this lifesaving rebate supposed to arrive?

[jbrown84]

I fear there may be a rush to casinos...

Mine will go towards debt.

[Chefdavies]

I call it a "gift card" from your friendly federal goverment. While we are giving you this money, We are taking you wallet at the same time. Oh well, It will be nice to have that added check that month. Maybe pay on a credit card like the fed wants us to.

[ultimatesooner]

I'll invest mine in foreign currency since the dollar is so weak

[MadMonk]

Depending on whether or not I'm unemployed when I get this (a possibility), it will either go in the bank toward mortgage payments or if the times are happier, toward badly-needed carpet for my house.

Sadly, the big screen and hot new PC are 2nd and 3rd on the list.

[Karried]

uh oh, Madmonk, that sounds scary! Is your company downsizing?

We just got measured for carpet yesterday... I'll let you know if we decide to go forward and if this guy is reliable and reasonable.

Good luck on the job situation... might be time to read 'Who Moved My Cheese' ? ...

[FritterGirl]

Ours will go to finish paying off last year's tax bill. How stimulating!

[MadMonk]

uh oh, Madmonk, that sounds scary! Is your company downsizing?

We are being outsourced. I'll refrain from naming names yet, but I'm definintely part of the group that is being outsourced. What remains to be seen is who and how many of us will remain in the next three or four months.

We just got measured for carpet yesterday... I'll let you know if we decide to go forward and if this guy is reliable and reasonable.

That would be great. I've never bought carpet before and a recommendation (or warning) would be appreciated.

Good luck on the job situation... might be time to read 'Who Moved My Cheese' ? ...

Interestingly enough, I've read it before. It was given to me by my boss when I was outsourced at another company years ago!

I'm really not too worried yet and have already got the headhunters working for me. I'm sure we'll be fine. I haven't been unemployed since I was 19 (and only then for a month). One way or another, I'll be working.