Tax rebates out by May?

[ScottFromGA]

http://www.msnbc.msn.com/id/22782454?GT1=10755



Sorry if this has already been posted...Kinda dumb to all of this tax rebate stuff........but the greedy, american part of me asks, "Am I getting one?"

[epo]

So our federal government, which is trillions of dollars in debt is sending us a rebate?

In the long run, that $600 is going to cost me at least $5,000 in taxes. This is a perfect example of a lack of real leadership in this nation.

[Enabler]

Got my federal refund today...Turbotax and direct deposit both rock the fat ass!:thumbup:

[Jughead]

I have 32 kids how much do I get!!!!!

[epo]

I have 32 kids how much do I get!!!!!

It depends. Have you incorporated yet?

[ScottFromGA]

I hated Kids Incorporated.......

Question I have is this, is this tax thing included with your tax refund or is it seperate all together?

cause if its apart of the tax refund....I've already filed and got mine back. :wallbash:

[epo]

I hated Kids Incorporated.......

Question I have is this, is this tax thing included with your tax refund or is it seperate all together?

cause if its apart of the tax refund....I've already filed and got mine back. :wallbash:

I would guess it would work just like the last rebate that Bush did in 2001. That was totally seperate from your tax refund and you didn't need to apply for it...you just got a check in the mail.

[ScottFromGA]

I would guess it would work just like the last rebate that Bush did in 2001. That was totally seperate from your tax refund and you didn't need to apply for it...you just got a check in the mail.

i was single the last time he did it....I got no check.

Im married with a kid....So I guess I suppose to get one....

I really am dumb to all this, but like I said, the greedy american part of me is watering at the mouth right now....

[epo]

i was single the last time he did it....I got no check.

Im married with a kid....So I guess I suppose to get one....

I really am dumb to all this, but like I said, the greedy american part of me is watering at the mouth right now....

You will definitely get one this time from the way the bill will be written. Pelosi demanded that any income above $3K would get a piece of the action.

I'm guessing that last time your income may have been too low to qualify under Bush's bill. I'm a single guy with no dependents and got a check last time. Although, that's purely a guess on my part.

[ScottFromGA]

actually in 2001, I was single with no job....so I had no income at all.


so yeah....good news for me.

[furie]

i was single the last time he did it....I got no check.

being single had nothing to do with it. were you working back then?

[ScottFromGA]

being single had nothing to do with it. were you working back then?

i was jobless then.

[scottinnj]

So our federal government, which is trillions of dollars in debt is sending us a rebate?

In the long run, that $600 is going to cost me at least $5,000 in taxes. This is a perfect example of a lack of real leadership in this nation.

Absolutely right. The last rebate we got in 2001 (if you got paid more then 40,000 and had kids) I kind of went with because we had a surplus, and the conservative in me told me that we had given too much money to the feds, give it back before it gets wasted. What I really wanted them to do was pay down the debt with the 32 billion dollar surplus-but I'd take a rebate if they insisted on it-after all it's my money to begin with.

The effect on "stimulating" a weak economy is arguably, weak, no pun intended. The tax cuts Bush put into effect did more to revive the economy then the rebates did.


Now that we are in a budget deficit, I am TOTALLY against this "stimulus" rebate package. 160 billion dollars being borrowed by overseas investors and foreign countries is just like going to the ATM and withdrawing money from the machine using your credit card. It's not your money, it's credit being loaned to you from a company that expects it back, with a boatload of interest, usually 21%. So why would you go further into debt when you don't have to?

[scottinnj]

being single had nothing to do with it. were you working back then?

I just wanted to point out the sexy new sigpic by furie. Kudos!

[furie]

I just wanted to point out the sexy new sigpic by furie. Kudos!

i have a rotator, which one was it?

[scottinnj]

Something with boobies in it. Hot!

[Midkiff]

The last time this cunt of a president sent out those piddly-ass $600 checks, my taxes that year went up over $2500 despite my decline in income that year. Fuck this rebate, and this douche of a president. I am putting mine straight in a high-yield savings account, since I will have to pay it right back five-fold at the end of the year.

God damn ass-sucking republicans.

:furious:

[Tenbatsuzen]

The last time this cunt of a president sent out those piddly-ass $600 checks, my taxes that year went up over $2500 despite my decline in income that year. Fuck this rebate, and this douche of a president. I am putting mine straight in a high-yield savings account, since I will have to pay it right back five-fold at the end of the year.

God damn ass-sucking republicans.

:furious:

This program is different than the one in 2001. The money is yours, free and clear. But feel free to blame the republicans, considering that this needs House and Senate approval.

And that 600 bucks in a high yield account over six months will get you a whole 15 bucks in interest. And that you WILL have to pay tax on.

[furie]

Something with boobies in it. Hot!

was it this:

http://i5.photobucket.com/albums/y178/furie1335/rfsigs/bsgalactica.jpg

[Midkiff]

This program is different than the one in 2001. The money is yours, free and clear.

I hope you're right. Last time, you had to directly add that check to the "taxes owed" field.

[Stankfoot]

[AP]

"Economists at Global Insight, a private forecasting firm in Lexington, Mass., are projecting that this year's deficit, with the stimulus package included, will hit $400 billion. That would be the second highest imbalance on record in dollar terms, surpassed only by the all-time high of $413 billion in 2004.

Even without the stimulus package, the Congressional Budget Office is forecasting the deficit for 2008 will jump to $219 billion, up from last year's $163 billion. And CBO said its new estimate did not include still unapproved outlays for the wars in Iraq and Afghanistan, which will probably push the deficit to around $250 billion."

:help:

[Tenbatsuzen]

I hope you're right. Last time, you had to directly add that check to the "taxes owed" field.

I really don't understand how your 2001 rebate lead you to owing 2500 bucks, though. A Republican president always means the poor get taxed hard. 2002 was a really shitty economic year.

[Tenbatsuzen]

You know, in the long run, I guess we should be thankful these tax rebate checks are coming from Bush and not someone like a President Obama. Then we'd be a whole different kind of rich.

[IMSlacker]

I sure hope these rebate checks will have 'made in china' stamped on them, since they'll be loaning us the money.

[BeerBandit]

And that 600 bucks in a high yield account over six months will get you a whole 15 bucks in interest. And that you WILL have to pay tax on.

I would think that putting the rebate money into an account we be counterproductive to the whole idea of the rebate plan. The point is recession fears are here, people aren't spending. I'm no economist, but it seems to me that with rebate plans the government is guaranteed ~50% return once sales taxes, income taxes and payroll taxes are taken into account. As long as you spend the money.

I'm not well off, but we're comfortable money-wise. We just bought a house in May and had a kid in July who unexpectedly came with some medical issues and subsequent medical bills. Any work we had wanted to do on the house went on the shelf. This money is going right to carpeting the living room and bedroom. I'm going to be a good little capitalist.

[Freitag]

I would think that putting the rebate money into an account we be counterproductive to the whole idea of the rebate plan. The point is recession fears are here, people aren't spending. I'm no economist, but it seems to me that with rebate plans the government is guaranteed ~50% return once sales taxes, income taxes and payroll taxes are taken into account. As long as you spend the money.

I'm not well off, but we're comfortable money-wise. We just bought a house in May and had a kid in July who unexpectedly came with some medical issues and subsequent medical bills. Any work we had wanted to do on the house went on the shelf. This money is going right to carpeting the living room and bedroom. I'm going to be a good little capitalist.

Oh, of course. Depending how our finances shake out, we were probably going to use our rebate to either pay down some more debt or use it for a vacation.

What I even would suggest is start saving the money you're expecting, put that into an Roth IRA instead of a high-yield savings, then spend the money you get, and the money you saved you get a tax break on.

Of course, I'm a big believer in maxing out your contributions.

[topless_mike]

So our federal government, which is trillions of dollars in debt is sending us a rebate?



that was my first question. you are usually good at stuff like this, so i was hoping you could explain this to me.
where is this money coming from? like hell if its from their own pockets.

[epo]

that was my first question. you are usually good at stuff like this, so i was hoping you could explain this to me.
where is this money coming from? like hell if its from their own pockets.

I hate to admit it, but Mike Huckabee nailed this one: We are going to borrow money from China & are going to be encouraged to buy shit from China. It's fucking crazytalk.

We would have been much better off spending the money on rebuilding infrastructure or developing alternative energies. We could have created some actual jobs....and got something of value in the meantime.

[Midkiff]

I really don't understand how your 2001 rebate lead you to owing 2500 bucks, though. A Republican president always means the poor get taxed hard. 2002 was a really shitty economic year.

The prior year I owed like 2500. That year of the rebate I owed 5000. My income for the year had declined about 10 grand. My deductions were the same, income lower, yet my taxes doubled. I don't think it was necessarily the rebate, although that did add $600 to my tax bill, but the invisible re-structuring of the tax code that came along with it. And believe me, I was poor at the time, so I did indeed get taxed hard.

I would think that putting the rebate money into an account we be counterproductive to the whole idea of the rebate plan. The point is recession fears are here, people aren't spending.

You are correct, but I refuse to allow Bush to fuck me in the ass again. So, the money is either going in an account, or all blown on hookers, who surely don't pay taxes on it.

[Dougie Brootal]

you guys get money BACK from the IRS?!?! what the fuck!!! i hate this country!!!

[A.J.]

you guys get money BACK from the IRS?!?!

That's news I can use!

Spread the IRS.

[badorties]

I have 32 kids how much do I get!!!!!

i used to work for the city's retirement agency, and one of my projects was to review the cases for sanitation workers and flag those with excessive deductions

there was a rash of guys claiming everyone in their family (and household) as a dependent, it seemed that one guy came up with the bright idea to claim 20 relatives, and the whole gang followed

[Dougie Brootal]

That's news I can use!

Spread the IRS.

http://ecwfrenchtribute.free.fr/HTLM/Photos/I/IRS/IRS_-_Lawrence_Michael_Rotunda_03.jpg