Tax Rebate

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Fred just told me that President Bush is going to announce today that he wants to send out a tax rebate to stimulate the sagging economy.

From what I have read it could be $800 for singles and $1600 for married couples. But those numbers are being negotiated.

That is alot more then they gave us back in 2001. Hurry and send it already!!! I want a IMac! LOL

Now they say we are falling into a recession..Hello? tap tap tap...anyone out there?

I think the majority of us can tell you that it is already in full swing.

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Makes you wonder what they do all day huh? This is clearly one of the reasons I don't involve myself in politics. Like $1600 is going to help in the long run? They need a better plan.

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Oh Dawn I know what you mean about it not really helping. And then my friend reminded me...Remember the $350 tax rebate they gave us before? What happened the following year at tax time? They added it so we essentially had to pay it back!

If we get $1600 we would ultimately have to pay taxes next year. So it wont help out really will it?

As for political talk..I leave that to Fred and Chelsea..I am in the know but I dont want to argue about it.

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:p:DMINI SHOPPING :sad?::pokerface:

Great minds and all.....I already have it spent in my mind!

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But remember that last time? It was right there in the fine print, the money turned out to be an "advance" on future refunds and was deducted for your next years taxes or if like us, basically you borrowed it and it had to be PAID BACK.

Sure, I will take the money, money is always nice... but I will not let my intelligence be insulted.

Do keep in mind that no one is GIVING us anything. This money will come from taxes we already paid-possibly instead of going some place else it is also needed.

Even if this money will not need to be paid back as federal taxes for 2008 it will end up added to the national debt! What does Bush care? He will be gone by the time it comes back to bite anyone in the butt. Apparently he plans to leave us laughing when he goes...

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Yeah, like I'm going to SPEND this on stuff. More likely that I'll put it in my investment account and hope it makes enough interest to be able to draw it back out but leave a couple of dollars, when the feds will want it back NEXT year.

Was listening to some talking heads yesterday talking about "recession". I'd heard this line before, but it's still amusing: "Recession is when your neighbor is at risk of losing his house. Depression is when YOU'RE at risk of losing your house.."

Makes me very glad that we are debt free. Don't owe anybody anything, and already have $$ stashed away for next year's property taxes. Whew.

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Yeap, that is just what they did in 2001. It was only an advance and if you don't get money back at the end of the year anyway you ended up paying MORE!!

It's no such thing as free money in this world it seems :ohyeah:

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From what I heard, they are hoping people will go out and spend it. It is not meant to help the average person but to help the economy from everyone spending it. Yet, then they are talking about a federal gas tax to pay for fixing the roads and bridges. Seems to me they should just use the money they are thinking of "giving" us to fix the roads and bridges and not tax us more.

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In a cynical way I'm glad we don't get all the government we pay for, I just wish they'd stop "fixing" my "fixed" income before it's all gone before I get it!

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We have made a group decision on this *found* money...not really found..LOL

We are going to save our tax refund and since I have a budget in place any monthly extras together. When the rebate comes in the spring (if it comes in the spring)..we are going to buy a computer, fix the walkway out front, fill the freezer, have all our *junk* removed,and new mattresses for the girls. We are not going to get an IMac. We would love too but we cant see spending the majority of the check on one thing.

Also by that time we will be getting the home equity loan (waiting to see what the interest rate will be first!!!) and having the roof done and painting of the house.

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Well they announced how much we are all going to get in the tax rebate..

$600 for singles

$1200 for couples

$300 for each dependant child

$300 for people that do not pay taxes but made at least $3000 last year.

What are your plans for the money?

I did our taxes yesterday and we are getting back $500 (state). Saving that and adding it to the $1500 we will get in May..(or later depending on where you are in the list).

Computer

Fill freezer

Fix the front walkway and repairs on our stone walls.

Save any that is left.

want to laugh? We are getting a refund from Federal...wait for it...wait for it...$8! LOL

(i am going to change my withholding on s.s. so we do not end up paying next year)

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I read that the income requirements are 75,000 per yr for singles, 125,000 for married couples. Heck, if I made 125,000 a year, I wouldn't care if I got an extra check or not. So, no special money for me. I will just sit in the corner with my crushed hopes again this year. B)

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I'm thinking of using it for a new Digital Camera, cause I know my purchase will save the country. B)

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I read that the income requirements are 75,000 per yr for singles, 125,000 for married couples. Heck, if I made 125,000 a year, I wouldn't care if I got an extra check or not. So, no special money for me. I will just sit in the corner with my crushed hopes again this year. B)

No -- you've got that backwards. If you make LESS than $75,000 per year for singles, or LESS than $125,00 for married couples., THEN you'll get a check. (And if you make MORE than those amounts, you won't. At least right now. It's not final yet.) I suspect many folks here fit that.

Unfortunately for us..we're retired, sole "income" is social security and some investment income, so WE aren't eligible.

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I'm thinking of using it for a new Digital Camera, cause I know my purchase will save the country. B)

ROFLMBOPIMP!!!!!!!

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The government never gives FREE money! there is a catch somewhere....I wonder if this applies to retirees?

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The government never gives FREE money! there is a catch somewhere....I wonder if this applies to retirees?
Like the old bumpersticker: Gas, Grass or A**; nobody rides for free!

Wolmeister, you need to share the email you sent me (DH opened it last night as I was falling asleep and I nearly fell out of bed!).

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OMG Holly! ;) :D I havent heard that saying in ages.

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Thanks for setting me straight uppitycat. Now I can dream again!! :D

You're quite welcome! But of course the thing hasn't been passed yet...the Senate has to "play" with it for awhile, so who knows WHAT it'll actually look like when it gets done...if it gets done...

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My son and I were talking about this last night after we heard it on the news....I am sorry I do no believe a thing out of Bush 's mouth. And the way they cut and dice in the goverment, I will believe it when it si in our hands. Then we will figure out how to use it our dually needs new tires so there goes one and I figure the rest will go for things we need to fix or clothes..... Cayrol

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