This sounds too good to be true...

timsdat

Here is what I think really sucks!!

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=ApoZkcYqiNOAkbXWOmCI6FmyFz4D

The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children.

So basically the rebate isn't for everyone who pays taxes only some people and some people who don't pay taxes will get a tax rebate!!

 

I totally agree and if this really is about putting it in people's hands so they'll put it back into the economy, then why discriminate against those who make more than the cut-off? They might even be more likely to go out and spend the money. The way it appears to me is more of a welfare type of a program to assist the most needy, but that isn't the way it was presented in the beginning or if it was, I missed it.

chelsea_b

timsdat

Low-income wage earners who made at least $3,000 last year and paid no income taxes would be eligible for a check from the government of up to $300 for individuals and up to $600 for married couples, according to the aide.

Why would they give money to people who don't pay taxes? I thought it was a "tax cut" of sorts?

I'm not really complaining..It seems I might qualify for that..but how do they know to send you a check if you don't pay income tax?

Nope, my understanding is that this is totally independent of taxes.  It's a different check.  They want people to buy more, to stimulate the economy.  Even people who don't make much can use $300 to buy a Wii or whatever. 

cakana

I totally agree and if this really is about putting it in people's hands so they'll put it back into the economy, then why discriminate against those who make more than the cut-off? They might even be more likely to go out and spend the money. The way it appears to me is more of a welfare type of a program to assist the most needy, but that isn't the way it was presented in the beginning or if it was, I missed it.

If I made $95k/yr, $300-$600 would really have a marginal effect on my spending habits and would probably go in the bank.  They want people to spend as much as possible and the studies (plus results of the previous rebate) show that the people in the low to mid class are most likely to actually spend the money rather than bank it or invest it.

timsdat

So basically the rebate isn't for everyone who pays taxes only some people and some people who don't pay taxes will get a tax rebate!!

Isn't that just wonderful........of course, I won't see any of that money.....just handing out tax money again and folks like DH and I are part of the folks who pay for it.......suuuuuucks......

Well, Gina if this happens you get $1800.  $1200 for family + 300 per kid.  Not bad!  I was so happy to hear this!  Hopefully everything will go thru accordingly!  I'll be very happy!

I just heard this got turned down an "thank god" coming from the mouth of my father...

Does anyone here make over $100,000 net??? If so it will make more sense due to the alternative tax, etc (which only apply so the "so-called" wealthy; even though you can barely get by on 100grand here in massachusetts... its freaking disgusting these days)

snownose

Isn't that just wonderful........of course, I won't see any of that money

I know exactly what you mean.  I feel your pain (literally!!!!).  I'm not rich in any sense of the word but always get screwed by taxes.  I guess that is what you get for working hard to get a good education and job, work hard to be the best you can and living well below your means so you can save for the future.

Can I declare my pups as dependants so at least I could get 300 for each???

Pomeranian <3

I just heard this got turned down an "thank god" coming from the mouth of my father...

The bill is not going to the House until next week... 

Maybe it was a different bill then... hrrrmmm b/c the one I read & looked at was very similar but it's not going to house for review... oppss

Pomeranian <3

Maybe it was a different bill then... hrrrmmm b/c the one I read & looked at was very similar but it's not going to house for review... oppss

I checked CNN after you posted and didn't see anything about it being turned down, just the same news about everyone trying to push it through right away.  On the 6oclock news it sounded like everyone was pretty much in favor, especially since it's time sensitive (it won't work if it doesn't happen ASAP). They had some economists on that basically said at this point, it's the best option.  It's not flawless, but if it happens fast it could work, and doing nothing is certainly not helping...

if you find out more keep me posted! i'm interested :o) 

cakana

timsdat

Here is what I think really sucks!!

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=ApoZkcYqiNOAkbXWOmCI6FmyFz4D

The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children.

So basically the rebate isn't for everyone who pays taxes only some people and some people who don't pay taxes will get a tax rebate!!

 

I totally agree and if this really is about putting it in people's hands so they'll put it back into the economy, then why discriminate against those who make more than the cut-off? They might even be more likely to go out and spend the money. The way it appears to me is more of a welfare type of a program to assist the most needy, but that isn't the way it was presented in the beginning or if it was, I missed it.

timsdat

snownose

Isn't that just wonderful........of course, I won't see any of that money

I know exactly what you mean.  I feel your pain (literally!!!!).  I'm not rich in any sense of the word but always get screwed by taxes.  I guess that is what you get for working hard to get a good education and job, work hard to be the best you can and living well below your means so you can save for the future.

Can I declare my pups as dependants so at least I could get 300 for each???

 

Janet808

This is the "democratic" way!

You mean in the socialist republic of america.

Whatever happened to "equal treatment under the law".