http://www.foxnews.com/story/0,2933,325192,00.html Stimulus Package at a Glance http://www.foxnews.com/story/0,2933,325327,00.html
My rebate of my tax money will go towards our vacation. This will allow us to add a few more days to our beach trip. Of course, spending that money on additional hotel time, meals, etc...that doesn't mean it's going towards stimulating the economy. Right libs? LOL! You guys just HATE the idea that this is being done while Bush in the White House, don't you. It's eating you alive. As people spend this money on goods and vacations and such, and the reports of that come out...you guys will be sulking and telling everyone that will listen what a horrible idea it was.
Oh yeah...we all know that Bush is doing this because he wants everyone to vote for him for President. Geesh...you guys just slay me sometimes. :lol:
Where the hell do you get that? It's exactly the sort of stimulus package Democrats support, and it's a bi-partisan solution. There's plenty of disagreement out there, no need to find it where it doesn't exist.
I'm with you Ready! I'll believe it when I have a check in my hand though. :mrgreen: Like Jen, if it does come to pass, that long-awaited trip to Disney might be in the works.
It says married couples should receive $1200...so, if part of that couple is a stay at home Mom, does that couple still get $1200? In other words, do you have to be employed to receive the benefit?
I was wondering the same exact thing. My hubby works, I stay home, but we file jointly, so do we get just the $600 or the $1200?
This is a way of putting it. Most people, if they have even a shred of sense, are going to put this toward their mortgage/credit cards/other debt. Much of this $100-odd billion in "rebates" are going to function as government money handed over to banks, mortgage brokers (some of whom have quite a hand in this fiasco of ours) and others who are reaping what they sowed with the era of easy credit. We are the middlemen for this bailout.
My understanding and everyone else I've questioned, have the same understanding that it's $600 per individual filing single, that makes the joint filing to be a total of $1200.
From what I've read it said everyone earning a paycheck who made $3000 or more. To me that sounds like SAH moms would not get the money...but that's just a guess. I wonder how that would work for married filing jointly.
My guess would be that married couples filing jointly will qualify as a couple, whether one or both of them earned the income. To answer your earlier question about why people who did not pay income tax get a rebate - a couple of reasons. One has already been mentioned, they want people to spend money to spur the economy. The other is that everybody pays a variety of taxes, even if they don't pay income tax. The earned income credit - which, by the way, was the brainchild of President Nixon - was and is intended to reimburse low-wage working people for part or all of the Social Security tax they pay.
So with that frame of thought...then that means that many of those dollars are then going to go to Sears, hotels, resturants, gyms, etc....right? Then again, if you look at it truthfully, each person who receives a check will be getting money that is theirs to do with as they wish, and thus it is not "going" to banks and mortgage brokers any more than you may consider that your regular paycheck goes to the bank, mortgage brokers, etc....
Persons filing a joint return would qualify for the $1200 whether there is one or two wage earners. FYI - The IRS are basing the rebates off your 2007 tax return. The sooner you get your taxes filed the sooner you'll get the rebate. Keep in mind, the money we receive from the Feds will then be factored into our 2008 tax returns. It will work like the advance rebates we got for the child tax credit in 2003. One thing they are considering is dropping the 10% tax bracket to 0% for the first $6000 for individuals and $12,000 for joint filers. Final details are still being worked out. This link is helpful. http://abcnews.go.com/WN/story?id=4193525&page=1
