Well, what are you going to do with your rebate?

[gini]

There is so much talk about the government rebate and a good deal of criticism.

What are you going to do with your rebate? Do you think it will kick-start the economy?

[CathyBogart]

Well, if I were getting one (which I am not), I would use it to get Jasper a Road Hound pet carrier for the back of my motorcycle.

http://moto-pets.com/

[slick]

You know it was all over the news up here yesterday. I wonder if our government is listening. ha!

Has it actually been passed by the White House yet?? Sorry, have not listened to the news yet today. Last I heard only Congress passed it.

[Freedom]

I don't normally get a rebate, not sure if this change (once it passes) will give me one. I don't believe in paying in MORE than I owe and having the govt earn the interest on MY money. If I am going to be lending, I want interest on the LOAN!

So I always work it out so that I have a small balance due (under $150).

However, should I get one, it is already spent; on pet stuff. :rolleyes:

http://i133.photobucket.com/albums/q57/sfsamm/Siggy/Rescue/savebichons.jpghttp://i133.photobucket.com/albums/q57/sfsamm/Siggy/Cats/theireyes.gif

[cassiesmom]

Well ... I should put it in savings, but -- I'm thinking of buying one of those pet stroller contraptions for Cassie. I'm going to need a high-definition compatible TV, too. I plan to give away part of it.

[Jessika]

I always overpay because I don't want to get to February and be like, "SURPRISE! You owe a ton of money!", because I'd rather get money back than have to pay hundreds, or thousands. :(

[lizbud]

Well, I have no shortage of places to send the money, but I'll wait to
see if this happens at all. As to the economy, no, it will not help at all.

The economy needs major surgery. :p The last 8 yrs with "conserative"
repubicans calling the shots, our economy & status as a nation has suffered
severe hits.

[Laura's Babies]

Mine, IF I get one will go in savings... Unless the Lord has other plans...

[Cataholic]

I heard on the news this am that May is the month where the checks should be mailed out. It is hard for me to imagine how approximately $1800 (two adults, two kids) could turn someone's life around, let alone spark a change in the economy.

"Free" money is "free" money, and I wouldn't turn it down. But, I am holding my breath about the upswing of the economy.

[momoffuzzyfaces]

Since I'm on disability and don't work any more, or make enough to even file income tax, I'll probably not get one.

Now if they want to make sure the money goes back into the economy, they should give it to the poorer people. They would spend it for sure: to survive.

[Karen]

I think it is silly to think that handing out money will help the conomy enough to turn it around, with so many Americans in so much debt - and whose money is it? It's our tax dollars in the first place. They would just be taking from us to give it to us. All political hoooey, in my humble opinion. It's not like they are giving us money from some huge government surplus, instead the government itself is in record deficit territory. Do they think we're all dumb enough to forget that?

[Trinityagain]

I already told hubby that I want to use it to get our furrballs up to date on their white coat visits....not telling them that quite yet though....

[emily_the_spoiled]

momoffuzzyfaces: Supposedly the rebate will be available even for people who do not earn enough to file an income tax form. If that is true, you should be able to get one.

[IRescue452]

Since I just got in a car accident, I'm going to have a big whole in my saving account that needs to be patched. In other words, no frivilous spending for me. I think it's going to take a long time for them to get the checks out, not good. I won't get much either since I'm a worthless single college grad with no children. I expect with all this goings on I'll probably lose out as compared to my normal rebate.

[moosmom]

"Free" money is "free" money, and I wouldn't turn it down. But, I am holding my breath about the upswing of the economy.

I'm with you, Johanna.

[RedHedd]

Pay my accountant for preparing my income taxes and if there's any left over, pay down some CC debt.

[columbine]

Yep, CC bills here, 100%! Maybe a new pair of dance shoes, though - I only go once a week, so they'll last me a lifetime.

Love, Columbine

[momoffuzzyfaces]

Question: would this have to be declared as income on next year's taxes? If so, it's possible it will throw some families with lots of kids, into higher tax brackets because there is $300 to be added for each child.

Somehow, I don't think we will be getting a head much. :(

[Edwina's Secretary]

It is difficult to understand how a president who is not eligible for reelection would propose an idea (half baked like all of his) that would ensure the reelection of a congress dominated by the opposition...but oif you say so okay....

I won't get a rebate. There are eligiibility requirements....Oh well....

[ramanth]

Is this something different than the IRS refund? :confused:

[Sirrahsim]

Is this something different than the IRS refund? :confused:
Yes it would technically be a tax credit for our 2008 taxes but they would be giving it to us in advance.
It shouldn't count as income on next year's taxes because it is along the same lines as the earned income tax credit (bless it!) and is calculated AFTER you calculate the tax that you owe.

I don't know how effective it would be as far as jump starting the economy but I know that the end of May is going to be VERY tight financially for us so I will take what I can get :D

[momoffuzzyfaces]

CNN reported this morning that the ones of us on Social Security won't get one unless the House can get it added to the bill before it passes next week. Good think I really didn't think I'd get one. :D

[emily_the_spoiled]

Sorry about that. Who knows what this tax rebate will actually end up being :rolleyes: (besides a bigger deficit that we will have to pay down)

[ramanth]

So there's nothing extra I have to do, right? No applications or forms. Just do my IRS forms and if I qualify, I'll get an extra check.

[Sirrahsim]

If it passes then they will mail a check to everyone on record with the IRS that qualifies. You just have to watch your mailbox :)
The only thing that you would have to do is file a change of address with the IRS asap if you moved recently.

[Jessika]

So there's nothing extra I have to do, right? No applications or forms. Just do my IRS forms and if I qualify, I'll get an extra check.
Yes, I'm wondering this as well. I don't want to miss out on "free" money.

Heck I don't even think I've received my W2s yet. =/

[lizbud]

CNN reported this morning that the ones of us on Social Security won't get one unless the House can get it added to the bill before it passes next week. Good think I really didn't think I'd get one. :D


I am on SS, since I'm retired now too. I still file taxes every year. :confused: Taxes are deducted from the SS check and
a pension (retirement acct.) check from the state. I usually get a
small refund every year.


I wish we had more details on this bill. :confused: GWB is pushing this
bill through so quickly, I hope we all know what it does cover before it
passes.

[ramanth]

Thanks Missy. Our W2's arrived this week so we're going to file now. :)

[momoffuzzyfaces]

I am on SS, since I'm retired now too. I still file taxes every year. :confused: Taxes are deducted from the SS check and
a pension (retirement acct.) check from the state. I usually get a
small refund every year.


I wish we had more details on this bill. :confused: GWB is pushing this
bill through so quickly, I hope we all know what it does cover before it
passes.
You should get one because you file taxes. I think they mean the ones like me who are on Social Security but don't make enough to even file taxes.

The way I understand it: everyone who works will get a refund even if they don't file income tax and everyone who files income tax will get one too.

Of course, the House is going to look the bill over and try and make changes, so who knows?

[Pam]

I heard Donald Trump say that he would probably buy a bar of soap with it. I know he was joking because he won't qualify for it, but he probably does spend ridiculous amount of money on everyday things like that. It is hard for me to comprehend people with that kind of wealth.

[Rachel]

Who knows what this tax rebate will actually end up being :rolleyes: (besides a bigger deficit that we will have to pay down)

That was my thinking. I can't see how this will make but a blip of a difference in the economy.

What would have made a difference was keeping a tighter rein on the regulations with which money was lent out by banks. Then there wouldn't be all these foreclosures and drop in the value of houses which has in turn caused the crisis. It was so obvious that lending money with no down payment to people who previously didn't qualify at rates that would soon go up to kazoo was a recipe for disaster.

As for what I do with the money, it won't be any different from what I do with any money I earn, put it in the bank until I need to pay some bill with it. My house is worse than a kid going to college.

[momoffuzzyfaces]

I heard Donald Trump say that he would probably buy a bar of soap with it. I know he was joking because he won't qualify for it, but he probably does spend ridiculous amount of money on everyday things like that. It is hard for me to comprehend people with that kind of wealth.
It's hard for me to comprehend people spending that kind of money on little things, like soap, even if they do have it. :eek: For that kind of money the soap should wash and iron your clothes as well as give you a bath!!! :eek: :D

[Jessika]

It's hard for me to comprehend people spending that kind of money on little things, like soap, even if they do have it. :eek: For that kind of money the soap should wash and iron your clothes as well as give you a bath!!! :eek: :D
Heck, with THAT kind of money not only should it wash and iron your clothes as well as give you a bath, it should also balance your checkbook, walk the dog, and take the kids to school!

[crazyboutanimals]

i heard about this one while talking to my dad, and so if it does pass, i am going to BUY AMERICAN :rolleyes: :rolleyes: :rolleyes: ... NOT, i am going to update and upgrade all my pets, which the all need very badly... we as a couple would get 1200 and 300 for our child. wait, do the twins count too? if they do i would get 900 for my children and 1200 for us. mmm.

but, back to reality, i for one do not think that by giving away money, it will help the economy one bit. i mean, most of us buy stuff that is NOT made in america, we drive cars that are NOT made in America, the only thing we do that is american is GO INTO DEBT!!! so, i dont think it will help one dang ol bit.

but, hey free money is free money.

[IRescue452]

Might I remind everybody that this is not free money. Its being taken from you in tax form as we speak and will continue to be taken to make up for this spending.

[Jessika]

Might I remind everybody that this is not free money. Its being taken from you in tax form as we speak and will continue to be taken to make up for this spending.
They are not talking about your tax returns but in addition to your return you will be getting extra money from the government this year. That is my understanding, anyway.

[kallisto4529]

Well I won't lie the money would be great, it has passed now. But I do not like the fact that all of this money is going to be added on to our national deficit!!!!!!!!! Jump starting the economy???? Please that must be a joke that they think is funny....it certainly will not happen.
But mine will go towards cc bill.

[Sparklecoon]

Would it be wrong to take a trip to Toronto and spend it all there? JK!

I think the money will probably go to the kitchen or bathroom renos. Nothing too fun though there is an overly expenssive Coach purse I've been eyeing...

[Catlady711]

I think it is silly to think that handing out money will help the conomy enough to turn it around, with so many Americans in so much debt - and whose money is it? It's our tax dollars in the first place. They would just be taking from us to give it to us. All political hoooey, in my humble opinion. It's not like they are giving us money from some huge government surplus, instead the government itself is in record deficit territory. Do they think we're all dumb enough to forget that?



That was my thinking. I can't see how this will make but a blip of a difference in the economy.

What would have made a difference was keeping a tighter rein on the regulations with which money was lent out by banks. Then there wouldn't be all these foreclosures and drop in the value of houses which has in turn caused the crisis. It was so obvious that lending money with no down payment to people who previously didn't qualify at rates that would soon go up to kazoo was a recipe for disaster.

As for what I do with the money, it won't be any different from what I do with any money I earn, put it in the bank until I need to pay some bill with it. My house is worse than a kid going to college.


I agree with both of you!

[momoffuzzyfaces]

The Senate just passed a revised bill:
http://biz.yahoo.com/ap/080207/economy_stimulus.html

[joycenalex]

i really don't think this rebate will work in stimulating the us economy. i have a question for economic majors or economists....IF the federal government were to sell bonds specifically for highway restoration and renovation, not in the major urban areas, and specified in the contracts that the work was to be done by small business and to hire economically disadvantaged young women and men to learn skilled trades would that stimulate local and regional economic growth?. this type of highway bonds would be a stable investment return for investors. i know this is a lot of hypotheticals, but if people do work that improves and repairs a crumbling infrastructure in their community/region and and they get wages, the people gain job skills and spend money and the region/community gains better roads and bridges. something along lines of the WPA of the great depression.( this is an idea we've been discussing here at home...)

[emily_the_spoiled]

The theory behind that strategy would work quite well. But there are few small businesses that can do road work on any major scale. Unfortunately it would also likely cost more than the stimulus package now being passed and the young people might now want to work in that kind of a job. It is hard, hot, dirty work that not everyone is willing to do. But the idea of some kind of WPA is very good if investors are willing to settle for the interest rate on the bonds, versus the potential for making vast sums of money on the stock market.