Your $600 Tax Rebate

[dr_mabeuse]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

 

[Guest]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

{canadajack]Mornin', Doc. *kiss*[/jack]


*ahem*

Ummm - doesn't make sense. Nope.

 

[JagFarlane]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

Mmmm true for the most part...however you still have to view the fact that the money will fall within the hands of US employees first. Though, there are still manufacturing companies where products are made in the USA [two companies I think of immediatly are Leatherman and SkilCraft]. Yes we aren't a manufacturing country anymore...however the idea is really to give those whom have been saving money a chance to have a few extra hundred dollars to go blow on whatever they want. Even if its just the local store...its extra money out in the country. At least thats how its supposed to work [I know mines going right into a savings account heh]

 

[OhMissScarlett]

Wait and don't we have to borrow a zillion dollars from Asia just to be able to do this?

I'm gonna spend the money on strippers, just to make sure it stays in the country. That's economic stimulation.

 

[JagFarlane]

Wait and don't we have to borrow a zillion dollars from Asia just to be able to do this?

I'm gonna spend the money on strippers, just to make sure it stays in the country. That's economic stimulation.

LMAO there ya go!

 

[Roxanne Appleby]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

I assume you're being facetious, and that of course you know this has absolutely nothing to do with the enonomy; that 30 seconds of actual thought will provide anyone with a brain several reasons why the notion is completely laughable; and that the real purpose is to stimulate the carreer chances of politicians who bet that not one person in a hundred thinks for 30 seconds about anything other than whether to watch Idol or Fat Farm on a given night.

IOW, the policy makes perfect sense and will probably be a little bit effective - you just have to understand what it's purpose really is.

FYI, note how once the bipartisan political establishment in DC unleashed this long-discredited excuse for pols to do what they naturally want to do anyway - take other people's money and spend it - every state and local official and unit of government jumped into the slime with their own "stimulus packages" - ie, letting the next generation pay for today's spending by slimy pols who will be retired on the beach in Miami when those bills come due.

 

[JagFarlane]

I assume you're being facetious, and that of course you know this has absolutely nothing to do with the enonomy; that 30 seconds of actual thought will provide anyone with a brain several reasons why the notion is completely laughable; and that the real purpose is to stimulate the carreer chances of politicians who bet that not one person in a hundred thinks for 30 seconds about anything other than whether to watch Idol or Fat Farm on a given night.

Hmmmm point given

 

[logophile]

I won't be receiving a stimulus package.
I'm too poor.

Most of my money comes in the form of child support (pays most of the mortgage) and fed work study through school. Since neither of those is taxable, I don't make enough money on paper to qualify.

It's fine, really, though. Because as a single mother of three kids, going to school full-time and working two shitty part-time jobs, I don't need the money. We're swimming in it!

 

[sophia jane]

I won't be receiving a stimulus package.
I'm too poor.

Most of money comes in the form of child support (pays most of the mortgage) and fed work study through school. Since neither of those is taxable, I don't make enough money on paper to qualify.

It's fine, really, though. Because as a single mother of three kids, going to school full-time and working two shitty part-time jobs, I don't need the money. We're swimming in it!

We totally are!

My rebate money is paying for my divorce.

 

[TxRad]

I won't be receiving a stimulus package.
I'm too poor.

Most of money comes in the form of child support (pays most of the mortgage) and fed work study through school. Since neither of those is taxable, I don't make enough money on paper to qualify.

It's fine, really, though. Because as a single mother of three kids, going to school full-time and working two shitty part-time jobs, I don't need the money. We're swimming in it!

There was a piece on Good morning America this morning about low income, social security income and others in regard to this payment. Check with your local irs or post office they have a packet you fill out and file.

 

[mellowgyrl]

There was a piece on Good morning America this morning about low income, social security income and others in regard to this payment. Check with your local irs or post office they have a packet you fill out and file.

I agree. Both my parents and my grandmother both receive SSI which normally they wouldn't file taxes for but in order to receive the rebate you have to file income taxes for 2007. I thought they said the minimum income for the year was $3000 but I could very well be wrong. I'd definitely check with the IRS! You don't wan to pass up that $1500 check do ya??!!

 

[logophile]

I agree. Both my parents and my grandmother both receive SSI which normally they wouldn't file taxes for but in order to receive the rebate you have to file income taxes for 2007. I thought they said the minimum income for the year was $3000 but I could very well be wrong. I'd definitely check with the IRS! You don't wan to pass up that $1500 check do ya??!!

That's the minimum taxable liability. Not the same.
My wages from the campus book store don't count, since there are no fed taxes deducted. My child support doesn't count, since it's income for me, but support for the kids. And my wages from second job didn't total 3000 last year. I did file my taxes (on Feb 2 - I needed my refund!), but I still don't qualify.

I would love my $1500! But it doesn't seem like it's happening.

Besides, I would just pay bills with it, anyway. No economic stimulating happening over here at our house!

 

[TxRad]

That's the minimum taxable liability. Not the same.
My wages from the campus book store don't count, since there are no fed taxes deducted. My child support doesn't count, since it's income for me, but support for the kids. And my wages from second job didn't total 3000 last year. I did file my taxes (on Feb 2 - I needed my refund!), but I still don't qualify.

I would love my $1500! But it doesn't seem like it's happening.

Besides, I would just pay bills with it, anyway. No economic stimulating happening over here at our house!

For this, I don't think there is a minimum, just that you filed and have a valid social security number. Please check on it Logo.

 

[The_Fool]

Since Logo has filed, she has done all she can. If she is eligible for anything, she will get a check. The key was, she had to file.

 

[sophia jane]

For this, I don't think there is a minimum, just that you filed and have a valid social security number. Please check on it Logo.

Just checked- she doesn't qualify.

 

[Carnevil9]

I'm going to spend half of mine on cheap whiskey and hookers. The rest I'll probably just waste.

 

[TheeGoatPig]

I know the whole thing is a sham, but I will be cashing it. At first it will go straight into checking. Sooner or later it will help cover my poker habit

 

[dr_mabeuse]

Wait! Don't tell me it's a cheap publicity scam! It's a republican administration! They're all about fiscal responsibility. So what if those notifications we got cost $60,000,000.00 to send out. I'm sure they were worth it.

I see where JP Morgan has upped the price on Bear Stearns to $10 a share too. Seems the stock holders were screaming about being ripped off at $2.00. But Morgan just bought B-S's assets. The Government is picking up the bad debt. Not a bad deal.

EDITED TO ADD: A CNN crawl informs us that a full 3% of recipients intend to donate their rebates to charity. The heart melts...

 

[Stella_Omega]

I'm going to spend half of mine on cheap whiskey and hookers. The rest I'll probably just waste.

Just be patriotic and make it American whiskey, okay? No Glenfiddich...

 

[Carnevil9]

Just be patriotic and make it American whiskey, okay? No Glenfiddich...

But of course. American hookers, too.

 

[neonlyte]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

Pay your accountants tax filing bill I assume he/she is American.

 

[mellowgyrl]

Just checked- she doesn't qualify.

Oh crud! I was really hoping she could get a rebate!

 

[R. Richard]

Just be patriotic and make it American whiskey, okay? No Glenfiddich...

Glenfiddich is NOT cheap whiskey!

 

[elsol]

I don't understand economics, I admit it.

We're supposed to spend our $600 tax rebate to stimulate the economy to the tune of $120 billion dollars. But the US economy is no longer a manufacturing economy. It's a service economy. If we go out and buy stuff, won't we just be sending that money overseas to China and South America and other manufacturing centers?

I think I'm going to go with rgraham here...

Since money is a figment of our imagination... then obviously Bush & Co. are trying to get us over this momentary bonk with reality and back into la-la land.

*burp*

I'm going to stimulate the economy by adding to my girlfriend's engagement ring fund.

 

[OLDERNWISER]

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