What are you going to do with your 600/1200?
DRay9911
24-01-2008 08:55:53
http//www.cnn.com/2008/POLITICS/01/24/economic.stimulus/index.html
![]("a392a2a10f)
http//i.l.cnn.net/cnn/2008/POLITICS/01/24/economic.stimulus/t1home.refund.thurs.06.gi.jpg[" alt=""/imga392a2a10f]
[quotea392a2a10f]
Story Highlights
- NEW Deal would give individuals $600, couples $1,200, sources say
- NEW Parents may get $300 more per child, sources say
- GOP will allow rebates for people who don't pay income taxes, sources say
- Democrats won't push food stamp aid hike, unemployment benefit extension
American taxpayers would get checks of several hundred dollars from the government under a plan to stimulate the economy, sources said Thursday.
Sources on Capitol Hill and at the Treasury Department said congressional and White House negotiators agreed upon checks of $600 per individual and $1,200 per couple.
A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300.
Checks could be in taxpayers' mailboxes by June, according to an Associated Press report.
The nonpartisan Congressional Budget Office estimated Wednesday the deficit would jump to $250 billion, mainly because of a weakening economy. That estimate does not include any additional spending that would be part of a stimulus package.
The proposal is intended to address economic worries stemming from a worldwide credit crunch created by the mortgage crisis and plunging stock markets. The president proposed the package last week.
[/quotea392a2a10f]
guess this is dubya's going away present, but i have a feeling when the numbers are crunched this won't be the economy stimulant some were hoping for.
-dan
puppeteer
24-01-2008 09:13:29
woah that is very nice!!!!!!!
Big War Bird
24-01-2008 09:39:01
How disgusting, giving tax "rebates" to those that don't pay taxes.
"Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal."
I guess that leaves me out.
CollidgeGraduit
24-01-2008 10:16:01
[quote108d0d049e="Big War Bird"]How disgusting, giving tax "rebates" to those that don't pay taxes.
"Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal."
I guess that leaves me out.[/quote108d0d049e]
Huh? I make less than $75,000, so I'd fall into the category of making up to $75,000... and I pay taxes. I'd assume most people in that category do shrug
Edit If the wife and I get $1200, we'll be going on a cruise.
TryinToGetPaid
24-01-2008 10:27:33
Yeah if I get 1200, I will be uhhhh saving it?
Big War Bird
24-01-2008 10:39:17
[quote256f30402c="CollidgeGraduit"][quote256f30402c="Big War Bird"]How disgusting, giving tax "rebates" to those that don't pay taxes.
"Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal."
I guess that leaves me out.[/quote256f30402c]
Huh? I make less than $75,000, so I'd fall into the category of making up to $75,000... and I pay taxes. I'd assume most people in that category do shrug
Edit If the wife and I get $1200, we'll be going on a cruise.[/quote256f30402c]
I mean people that earn so little as to not have any income tax liability.
dmorris68
24-01-2008 11:06:37
[quote6273250167="Big War Bird"][quote6273250167="CollidgeGraduit"][quote6273250167="Big War Bird"]How disgusting, giving tax "rebates" to those that don't pay taxes.
"Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal."
I guess that leaves me out.[/quote6273250167]
Huh? I make less than $75,000, so I'd fall into the category of making up to $75,000... and I pay taxes. I'd assume most people in that category do shrug
Edit If the wife and I get $1200, we'll be going on a cruise.[/quote6273250167]
I mean people that earn so little as to not have any income tax liability.[/quote6273250167]
What confused me was that you seemed to be vaguely making different points at the beginning and end of your post.
[quote6273250167="BigWarBird"]How disgusting, giving tax "rebates" to those that don't pay taxes[/quote6273250167]
seems to explain your disdain with low-income, non-tax paying folks getting a rebate, but then you say
[quote6273250167="BigWarBird"]I guess that leaves me out.[/quote6273250167]
without any explanation. Are you saying you're above that income range to qualify for the rebate? If so, then you should consider yourself blessed. If the administration suggested such tax rebates to the highest income earners, you'd be certain the liberals would be falling over themselves to complain about how the wealthy are getting yet more tax breaks.
Anybody know if those income ranges are based upon 2006 earnings filed last year, or 2007 earnings to be file this year? Since the payout is scheduled for June (assuming the rebate package is approved), I'm guessing 2007 income, but it wasn't clear.
DRay9911
24-01-2008 11:14:58
and that's why this plan is going to not work. i'm probably going to stick the money in the bank also, mostly because there's nothing i want/need to buy.
the government is going to want everyone to go out and buy something, they want consumer spending to go up.
everyone who puts the money in the bank or puts it to their credit card/car/loan/mortgage is doing the opposite of what the plan is designed for.
-dan
[b3c9955e23b][quote3c9955e23b="TryinToGetPaid"]Yeah if I get 1200, I will be uhhhh saving it?[/quote3c9955e23b][/b3c9955e23b]
EatChex89
24-01-2008 11:21:37
so can you get this if you are a dependent?
Big War Bird
24-01-2008 11:27:21
Yes I am frustrated to see that the part of the plan is to give give an income tax rebate to those that don't pay income taxes.
The democrats have successfully removed the tax burden from their voter base and are now working making them free from social security and medicare.
CollidgeGraduit
24-01-2008 11:32:45
The reason I'm linotli saving/investing this is because I'm already doing that with quite a large portion of my paycheck. If I wasn't saving for retirement, we would be able to go off and take a cruise a couple of times a year if we wanted. So, this will be a nice little unexpected reward.
ilanbg
24-01-2008 11:54:24
[quote8315823b8e="DRay9911"]and that's why this plan is going to not work. i'm probably going to stick the money in the bank also, mostly because there's nothing i want/need to buy.
the government is going to want everyone to go out and buy something, they want consumer spending to go up.
everyone who puts the money in the bank or puts it to their credit card/car/loan/mortgage is doing the opposite of what the plan is designed for.
-dan[/quote8315823b8e]
Technically paying off loans would fall under "consumer spending." The less loans you have, the more loans you can take out...
It's nice as a last-ditch effort to do something, [i8315823b8e]anything[/i8315823b8e] for the economy, but it takes more than cutting a quick check to make up for years of fucked up fiscal policy. (Not to mention this plan was put into effect too late; we're already on our way towards the recession and there isn't much we can do to prevent it, now.)
ajasax
24-01-2008 12:09:19
Steve Jobs announces next generation iPhone. Release date scheduled for June 2008.
You heard it here first.
doylnea
24-01-2008 14:18:02
[quote11db96ce14="ilanbg"][quote11db96ce14="DRay9911"]and that's why this plan is going to not work. i'm probably going to stick the money in the bank also, mostly because there's nothing i want/need to buy.
the government is going to want everyone to go out and buy something, they want consumer spending to go up.
everyone who puts the money in the bank or puts it to their credit card/car/loan/mortgage is doing the opposite of what the plan is designed for.
-dan[/quote11db96ce14]
Technically paying off loans would fall under "consumer spending." The less loans you have, the more loans you can take out...[/quote11db96ce14]
This isn't correct - consumer spending is on goods and services, not on loans. In particular, since the consumer is paying down a loan, they're not spending the money on goods or services in the economy, and therefore the money is not being funneled back into the economy, as designed.
doylnea
24-01-2008 14:20:41
a) Wow what a surprise that the checks would be available in June - gee what will be in full swing in June 2008 in the U.S.?
b) I believe this money will arrive too late for most Americans, and is too little. If the economy does get to be as bad as many are forecasting, then i) $600 does nothing for the average consumer (as it's too small), ii) there will be far greater debts on the horizon that need paying, and the $600 is going to be spent on those debts/obligations, rather than on a cruise, imo.
c) Where's the money for this 'stimulus' coming from? There's already a $250B deficit - what's another $100B right, and oh by the way, let's secure those tax cuts permanently too, because that will help with the deficit. It's dumbfounding to me how a Republican has spent money like a liberal. And we'll just ignore the fact that should a democrat be elected as the next President, it will be their responsibility to fix the arrears of the deficit.
I need a beer.
theysayjump
24-01-2008 20:55:41
[quotece7e2a6299="DRay9911"]and that's why this plan is going to not work. i'm probably going to stick the money in the bank also, mostly because there's nothing i want/need to buy.
the government is going to want everyone to go out and buy something, they want consumer spending to go up.
everyone who puts the money in the bank or puts it to their credit card/car/loan/mortgage is doing the opposite of what the plan is designed for.
-dan[/quotece7e2a6299]
Dude, you might want to keep your voice down. Georgy boy frequents this forum and if he found out that people are going to be saving rather than spending, then he'll just not give us anything.
So.....ssshhhh.
EatChex89
24-01-2008 22:07:42
I'm thinking of "investing" it into the freebie market, make some more cold hard cash and put that into my savings.
J4320
24-01-2008 22:09:40
[quote874169cb90="EatChex89"]I'm thinking of "investing" it into the freebie market, make some more cold hard cash and put that into my savings.[/quote874169cb90]
So... you pay income tax?
EatChex89
24-01-2008 22:12:29
[quote90d713fc13="J4320"][quote90d713fc13="EatChex89"]I'm thinking of "investing" it into the freebie market, make some more cold hard cash and put that into my savings.[/quote90d713fc13]
So... you pay income tax?[/quote90d713fc13]
Yea, I think everyone with a job does. I made almost 13k this year before taxes (the gov took 2500 from me). Supposedly, I am supposed to get at least $300.. thats what my dad told me.
J4320
24-01-2008 22:18:10
Niiiiiiice. I'm still jobless and I want to stay that way for as long as possible. lol
EatChex89
25-01-2008 10:34:48
[quote7e98239b1f="J4320"]Niiiiiiice. I'm still jobless and I want to stay that way for as long as possible. lol[/quote7e98239b1f]
I figured I'd get as much work experience as possible. So far I've already had 3 jobs, one of which was at school and I can possibly get back... My current job I've been at for almost 2 years.
bballp6699
25-01-2008 14:18:40
[quote9d6c7c64ed="CollidgeGraduit"]
Edit If the wife and I get $1200, we'll be going on a cruise.[/quote9d6c7c64ed]
That's what I'm doing with mine. Going towards the honeymoon cruise.
EatChex89
25-01-2008 14:58:57
[quoted75b4bea38="bballp6699"][quoted75b4bea38="CollidgeGraduit"]
Edit If the wife and I get $1200, we'll be going on a cruise.[/quoted75b4bea38]
That's what I'm doing with mine. Going towards the honeymoon cruise.[/quoted75b4bea38]
How about you hire a videographer too... I'll be willing to do it for $50 + food
Powerbook
25-01-2008 15:45:44
[quote94071f03ed="EatChex89"][quote94071f03ed="bballp6699"][quote94071f03ed="CollidgeGraduit"]
Edit If the wife and I get $1200, we'll be going on a cruise.[/quote94071f03ed]
That's what I'm doing with mine. Going towards the honeymoon cruise.[/quote94071f03ed]
How about you hire a videographer too... I'll be willing to do it for $50 + food[/quote94071f03ed]
Why does he need a videographer for his honeymoon unless he is making a porno?
JOSHBOX
25-01-2008 17:29:05
Im going to use mine to pay for a wedding ring.
Godrockdj
25-01-2008 18:37:26
[quoteb1fc4f91fb="doylnea"]a) Wow what a surprise that the checks would be available in June - gee what will be in full swing in June 2008 in the U.S.?
b) I believe this money will arrive too late for most Americans, and is too little. If the economy does get to be as bad as many are forecasting, then i) $600 does nothing for the average consumer (as it's too small), ii) there will be far greater debts on the horizon that need paying, and the $600 is going to be spent on those debts/obligations, rather than on a cruise, imo.
c) Where's the money for this 'stimulus' coming from? There's already a $250B deficit - what's another $100B right, and oh by the way, let's secure those tax cuts permanently too, because that will help with the deficit. It's dumbfounding to me how a Republican has spent money like a liberal. And we'll just ignore the fact that should a democrat be elected as the next President, it will be their responsibility to fix the arrears of the deficit.
I need a beer.[/quoteb1fc4f91fb]
Sadly, I agree. If we got this check in the mail next week I [ib1fc4f91fb]might[/ib1fc4f91fb] have considered spending some of it for fun. That would still only be some of it, though - the rest would head towards savings and bills. But by June? This economy has no real prospects of making any major turnarounds and it will surely worsen by then. My husband and I, with me paying for school and hoping to save for a home, will have no choice but to look at the reality of the harsh market and put it all into savings then.
We get the check and are encouraged to spend it. But, where does said goods come from? China.
The only economy that is going to be stimulated from this stimulus package is China. Not the United States.
We will only be digging ourselves deeper in the hole as a result.
EatChex89
25-01-2008 23:43:11
[quoteecf2434a60="h3x"]We get the check and are encouraged to spend it. But, where does said goods come from? China.
The only economy that is going to be stimulated from this stimulus package is China. Not the United States.
We will only be digging ourselves deeper in the hole as a result.[/quoteecf2434a60]
unless you buy books... books are printed in the USA I imagine.
dmorris68
26-01-2008 07:36:00
[quote83095ad70f="h3x"]We get the check and are encouraged to spend it. But, where does said goods come from? China.
The only economy that is going to be stimulated from this stimulus package is China. Not the United States.
We will only be digging ourselves deeper in the hole as a result.[/quote83095ad70f]
I'm not sure I understand all this anti-import attitude. Sure, lots of things are made overseas. That doesn't mean American businesses and thus the American economy can't benefit.
[list83095ad70f][li83095ad70f]Many imported products are products of American companies that have outsourced their production to cut costs. Whether or not you agree with outsourcing, the fact remains that these are American businesses who are profiting from you purchasing their goods.
[li83095ad70f]The products are imported into American ports, where American dock, airline, and customs workers are employed.
[li83095ad70f]The products are sent to American warehouses and distributors.
[li83095ad70f]The products are sold on American retail shelves, whether brick & mortar or virtual.[/listu83095ad70f]
There's probably a few points in between that I failed to mention.
So there are many points of economic gain along the lifetime of a product, from manufacturing in China (or wherever) to the American consumer's hands.
I think a lot of you lose sight of the fact that, without the importation of products that we do have, we'd have a lot fewer products and American companies available to us, and those that were available would be much more expensive.
And Chex, many books are printed in other countries, such as Mexico. ;)
[quotef8a941fbf3="dmorris68"]Whether or not you agree with outsourcing, the fact remains that these are American businesses who are profiting from you purchasing their goods.[/quotef8a941fbf3]
Sure, American businesses are profiting... But where does the average American worker (not the business owners or the entrepreneurs) fit in with all of this outsourcing? Short answer, they don't. Its being sold off to China for its cheap labor and that hurts the economy overall because it obviously takes away jobs from the American worker (unless, you fancy working at a brick and mortar store, an American port or a distribution warehouse as you put it).
I don't mind importation. I support international trading. But clearly we are not relying on ourselves anymore. We are relying on China (for jobs, labor, and [bf8a941fbf3]massive[/bf8a941fbf3] loans) and the only ones that are benefiting from this are the corporations. (With exception to the loans... No American benefits from this. Only the Chinese government).
CollidgeGraduit
26-01-2008 09:10:09
[quoted092b1e105="dmorris68"][quoted092b1e105="h3x"]We get the check and are encouraged to spend it. But, where does said goods come from? China.
The only economy that is going to be stimulated from this stimulus package is China. Not the United States.
We will only be digging ourselves deeper in the hole as a result.[/quoted092b1e105]
I'm not sure I understand all this anti-import attitude. Sure, lots of things are made overseas. That doesn't mean American businesses and thus the American economy can't benefit.[/quoted092b1e105]
Exactly. Buy a VW, Audi, Nissan, or Toyota, and they make money. The OEMs then, in turn, spend money with my company -- which is a privately held company, based in Detroit, with offices around the world. If the economy in the UK does well, people buy more cars there, our UK office does well, and that contributes to the overall profitability of my company. We keep our jobs, get our yearly bonus, and spend that money locally.
You can't say buying imported goods doesn't help your economy. It's a truly global economy, with a lot of global companies.
michelle-kcmo
26-01-2008 11:02:19
Collidge Graduit wrote
[quotec767754742]The reason I'm linotli saving/investing this is because I'm already doing that with quite a large portion of my paycheck. If I wasn't saving for retirement, we would be able to go off and take a cruise a couple of times a year if we wanted. So, this will be a nice little unexpected reward.
[/quotec767754742]
What is wrong with you people? LOL!
I'm a stay at home mom, we have 3 kids~boy 4, girl 8, girl 20. Wanna guess what our money will be spent on? I'd love to take a cruise, but I'm afraid that 5 people aboard Disney's Big Red Boat would not come close to being covered by $1800. cry
ILoveToys
26-01-2008 11:49:35
Really you can blame the fact that most ppl are broke not on the current administration, but the previous......At least in MI I have watched several larger manufactoring plants head to Mexico and what allows them to do that??? NAFTA, and who signed that into law?????
People too often only look at the present, and not what lead to the current conditions.
ilanbg
26-01-2008 13:30:47
I'm gonna invest my check in Chinese bonds.
Yeahhhh!!!
nytrate
26-01-2008 15:41:05
although h3x, to be fair...unless those Chinese imports are bought directly from China to the consumer, it will still stimulate retail markets. The goods may come from China but the stores making the killing on them are in the US.
Sounds like the black market will be stimulated more than anything!
[quote7acd940585="nytrate"]although h3x, to be fair...unless those Chinese imports are bought directly from China to the consumer, it will still stimulate retail markets.[/quote7acd940585]
Consumer spending has been spiraling downwards (and will most likely remain in that direction, especially due to the fear of a recession [which is inevitable, if we're not in one already]).
Unemployment and consumer debts play a big part of the reason why consumers are not spending as much.
This stimulus package is nothing more than a small bandage for a gaping wound.
referralman
27-01-2008 13:49:48
lmao, i worked at dentist office last tax time, and made around 5000 dollars for the couple of months.... then taxes came around and i got 300 back of the 1000 i was kinda pissed lmao.
bsrkr1230
27-01-2008 16:11:20
My wife and I plan to invest the money in a high-yield savings account, and open an IRA.
We cannot really afford to splurge with it. Personally, I don't think this rebate plan will work, but I'm not going to turn it down either.
EatChex89
27-01-2008 20:30:41
[quote732543d5bb="bsrkr1230"]My wife and I plan to invest the money in a high-yield savings account, and open an IRA.
We cannot really afford to splurge with it. Personally, I don't think this rebate plan will work, but I'm not going to turn it down either.[/quote732543d5bb]
TIMMY!! TIMMY!!!
DRay9911
07-03-2008 12:24:46
i thought
lithis articleli[=http//hosted.ap.org/dynamic/stories/D/DEAR_TAXPAYER?SITE=AZTUS&SECTION=HOME&TEMPLATE=DEFAULT]lithis articleli was interesting
[bc8cf803db7][uc8cf803db7]Rebate letters to cost $42 million[/uc8cf803db7][/bc8cf803db7]
By DEVLIN BARRETT
Associated Press Writer
WASHINGTON (AP) -- [bc8cf803db7]At a cost of nearly $42 million, the IRS wants you to know Your check is almost in the mail.[/bc8cf803db7]
The Internal Revenue Service is spending the money on letters to alert taxpayers to expect rebate checks as part of the economic stimulus plan.
[bc8cf803db7]The notices are going out this month to an estimated 130 million households who filed returns for the 2006 tax year[/bc8cf803db7], at a cost $41.8 million, IRS spokesman John Lipold confirmed.
That works out to about 32 cents to print, process and mail each letter. It doesn't include the tab for another round of mailings planned for those who didn't file tax returns last year but may still qualify for a rebate.
Democrats accused the Bush administration of wasting time and postage.
"There are countless better uses for $42 million than a self-congratulatory mailer that gives the president a pat on the back for an idea that wasn't even his," Sen. Charles Schumer said Friday, arguing the IRS could more effectively spend the money to catch tax cheats.
Keith Hennessey, director of the president's National Economic Council, said the letters are being sent to explain how the tax rebates will work.
"Any time you do something as a government tens of millions of times, there is ample room for people to get confused. And so if you're going to have tens of millions of taxpayers getting checks, you want to get the information out so that you have as few people as possible confused about what's happening, they understand what's coming, and it reduces the number of incoming requests that IRS and Treasury have to figure out how to deal with it," said Hennessey.
"Dear Taxpayer," the letters will begin, going on to say the IRS is pleased to inform the recipient that Congress passed and President Bush signed into law a plan that will provide payments of up to $600 for individuals who qualify or $1,200 for married couples filing jointly. The rebates are the centerpiece of a $168 billion economic stimulus package.
[bc8cf803db7]The actual rebate checks are scheduled to go out starting in May, after the IRS has finished separately mailing out routine refunds for the 2007 tax year.
[/bc8cf803db7]
[bc8cf803db7]The letters will be a reminder that people need to file a 2007 tax return so they will receive the rebate if they are eligible for it.[/bc8cf803db7]
Similar notices will go out later to some Social Security recipients and those who receive veterans benefits - groups that often do not file tax returns.
For those people to get a rebate check, they will need to file a tax return if they received at least $3,000 from a combination of certain Social Security benefits, veterans benefits and earned income. The minimum payment for this group will be $300 for an individual and $600 for a couple filing jointly.
Not everyone will be eligible. Singles with income of more than $75,000 and couples with more than $150,000 get only partial rebates, if any.
People who earn less than $3,000, illegal immigrants and anyone who does not file a tax return will miss out. Singles with incomes exceeding $87,000 and couples with incomes exceeding $174,000 also won't qualify, although those caps rise by $6,000 per child
-----
-dan
manOFice
07-03-2008 12:41:10
i'll be paying the irs, lol
kwesi1
11-03-2008 14:11:46
I will most likely spend it. I've been eyeing an onkyo 605 receiver for a while now and I think I might use the rebate to purchase it.
bruman
11-03-2008 16:41:03
[quoted3d09de0cf="manOFice"]i'll be paying the irs, lol[/quoted3d09de0cf]
haha, same here.
TravMan162
11-03-2008 18:10:30
I'll be using mine to help move halfway down the country D
tucker1003
11-03-2008 19:31:44
I just found out!..........................I don't qualify.I get a whopping $15 from state and nothing from Feds.
manOFice
18-03-2008 07:01:02
Here is the schedules
http//www.myfoxmemphis.com/myfox/pages/News/Detail?contentId=6062581&version=1&locale=EN-US&layoutCode=TSTY&pageId=3.3.1
doylnea
18-03-2008 07:25:03
I love that Bush just spent $42M to alert taxpayers that they'll be getting the money - and that "all you need to do to get the money is file your taxes."
Gee, thanks. Maybe the Fed could have propped up another failing business with that $42M. Oops, that's the cynic in me again.
DRay9911
18-03-2008 08:23:10
i cannot remember the last time i received a rebate from the irs, so i have never selected a direct deposit return.
i will probably have to pay again this year, so it looks like i won't get my stimulus check until the end of june.
-dan
[quoteb0ef903f0e="manOFice"]Here is the schedules
http//www.myfoxmemphis.com/myfox/pages/News/Detail?contentId=6062581&version=1&locale=EN-US&layoutCode=TSTY&pageId=3.3.1[/quoteb0ef903f0e]
C_Gaskell
18-03-2008 08:46:12
What they need to do to stimulate the economy is keep there damn checks and lock gasoline into a price between $1.75 and $2.50 and open oil reserved in Alabama or start pushing oil from Alaska. That would stimulate me because I wouldnt be paying 200 in gas every week. YAY GOVERNMENT SUCKS, unless you work from home like myself i make money from the freebie world but also do Internet Marketing if ne one is interested I can show you the way... just PM me or on AIM thedragonofohio
Stroid
18-03-2008 08:48:10
I think I am gonna spend mine and go to California...ive never been there. Talked to friend about it last night in a semidrunk conversation but im sober now and it still sounds like a good idea!
zr2152
18-03-2008 10:28:49
I think I might get a wii
TravMan162
18-03-2008 13:35:03
[quote976f829949="C_Gaskell"]What they need to do to stimulate the economy is keep there damn checks and lock gasoline into a price between $1.75 and $2.50 and open oil reserved in Alabama or start pushing oil from Alaska. That would stimulate me because I wouldnt be paying 200 in gas every week. YAY GOVERNMENT SUCKS, unless you work from home like myself i make money from the freebie world but also do Internet Marketing if ne one is interested I can show you the way... just PM me or on AIM thedragonofohio[/quote976f829949]
oh okay hang on let me PM you. The shameless plug for a trade in the middle of an off-topic chat is very enticing. And if you work from home, how the hell are you spending $200 a week in gas?
And why does the government suck? At least they're trying to do something. Do you really think cutting gas prices in half is really going to rescue the economy?
LLee93
18-03-2008 14:12:58
One thing that will help the economy is if all these idiots stop buying houses they can't afford. I recently heard the story of a guy that's working two jobs to pay his house payment. Sounds sad until you find out he started working two jobs so he could buy a huge house. Moron!
manOFice
18-03-2008 14:15:23
[quoteb974ddd000="LLee93"]One thing that will help the economy is if all these idiots stop buying houses they can't afford. I recently heard the story of a guy that's working two jobs to pay his house payment. Sounds sad until you find out he started working two jobs so he could buy a huge house. Moron![/quoteb974ddd000]
People are burning down their own homes because they can't pay for them to collect on it... it's pretty sad.
TravMan162
18-03-2008 14:16:07
[quote5700acd3d9="LLee93"]One thing that will help the economy is if all these idiots stop buying houses they can't afford. I recently heard the story of a guy that's working two jobs to pay his house payment. Sounds sad until you find out he started working two jobs so he could buy a huge house. Moron![/quote5700acd3d9]
yeah seriously. let's look at a brief synopsis of what's going on in the economy.
In the words of the average jackassey consumer, "oh feds cut rates again, now's the time to buy! 3% ARM? Where do I sign???"
Not so jackassey consumer "feds cut rates again. they're obviously trying to right the ship before we collapse, bad things could be coming, let's save our money"
Sound about right?
Jeremiah1218
18-03-2008 15:03:11
[quotee54dc31d4c="TravMan162"][quotee54dc31d4c="LLee93"]One thing that will help the economy is if all these idiots stop buying houses they can't afford. I recently heard the story of a guy that's working two jobs to pay his house payment. Sounds sad until you find out he started working two jobs so he could buy a huge house. Moron![/quotee54dc31d4c]
yeah seriously. let's look at a brief synopsis of what's going on in the economy.
In the words of the average jackassey consumer, "oh feds cut rates again, now's the time to buy! 3% ARM? Where do I sign???"
Not so jackassey consumer "feds cut rates again. they're obviously trying to right the ship before we collapse, bad things could be coming, let's save our money"
Sound about right?[/quotee54dc31d4c]
Actually right now is a great time to buy if you plan on holding for a few years and reselling for a profit...the market is always gonna go back up no matter how low it is, just don't get in over your head.
tylerc
18-03-2008 15:33:24
Putting it back in the bank, I paid $365 out of pocket for federal income taxes, getting $300 back so I'm putting it back in the bank.
TravMan162
18-03-2008 15:53:06
i totally agree with you jeremiah, I was more so poking fun at the idiots who couldn't afford a home before, but see the lower rates and think that the heavens have opened up and given them an opportunity.
ARM's should be illegal in my opinion. I got lucky and got my mortgage at a fixed 5.75%
Now it's down towards 3% I believe, but if you get a mortgage now, it's probably not going to be that low of a percentage rate unless it's an ARM. In which case, 3% seems good now, but next year when they start adding percentages again, and your interest rate goes up to, you know, 35% (exaggeration obviously D) it's not going to seem so cool.
But shit, if you can afford to throw a grand away a month, then hell yeah now's the time to buy. You'll make a killing in a few years.
DRay9911
24-04-2008 14:09:17
hope some of you guys get your money next week
http//abcnews.go.com/Business/Economy/story?id=4718901&page=1
[quote6938b0953e]WASHINGTON (Reuters) - The U.S. Treasury will start sending tax rebate checks to Americans next week, ahead of its previous schedule, and aims to pump $50 billion into the U.S. economy by the end of May, Treasury Secretary Henry Paulson said Thursday.
"We will start a bit earlier. We're a little bit ahead of schedule, so we will start right on Monday with direct deposits," Paulson told Reuters in an interview.
More than 800,000 electronic payments will be sent to tax filers per day on Monday, Tuesday and Wednesday of next week, with an additional 5 million sent on Friday, May 2.
"Close to 8 million people will get their stimulus payments next week," he said. [/quote6938b0953e]
-dan
manOFice
24-04-2008 14:38:55
w00t, when i filed my taxes i gave my bank info and said I wanted this refund in a direct deposit... hopefully that is good enough to get direct deposit
Theres not something else I had to do to get direct deposit for this is there?
ricopet
24-04-2008 14:56:25
putting money towards debt will open up consumers credit cards again and they most likely go out and buy stuff again. It's the american way to spend whether we agree or not. No form of government will help our lives get better. It needs to come from ourselves and what we want to do with situation. If you depend on the government to hand you everything you will be complaining till the day you die. If you depend on yourself, then you have no one to blame but yourself.
CollidgeGraduit
24-04-2008 18:12:04
My money was spent on a Springfield XD45 Compact D
zr2152
24-04-2008 18:41:43
Yeah I'm definitely spending mine. That's what were supposed to be doing. Think i might an ipod touch.
topbillin1
25-04-2008 06:30:19
Paying off a credit card, I owe about $4400 in total so I gotta get all that out the way before I buy a car.
I would spend it but the way the economy is going, I better not shock
manOFice
25-04-2008 06:31:22
[quoteac84755920="topbillin1"]Paying off a credit card, I owe about $4400 in total so I gotta get all that out the way before I buy a car.
I would spend it but the way the economy is going, I better not shock[/quoteac84755920]
yeah mine is going to bills as well I believe
bballp6699
25-04-2008 06:37:18
Does it count if I pay off my honeymoon to Jamaica with it? Or does that kinda defeat the purpose...?
CollidgeGraduit
25-04-2008 06:40:42
[quote549633c0d7="bballp6699"]Does it count if I pay off my honeymoon to Jamaica with it? Or does that kinda defeat the purpose...?[/quote549633c0d7]
I thought you were spending it on the mail order bride... or was that last year's refund?
dmorris68
25-04-2008 06:55:43
[quoted8ce2870b5="topbillin1"]I would spend it but the way the economy is going, I better not shock[/quoted8ce2870b5]
Ironically enough, that's the whole point of the rebate for people to spend it in order to help the economy. ;)
Mine will go towards buying my daughter a car, so yay, I'm doing my American duty...
(that's assuming I wind up getting anything)
TryinToGetPaid
25-04-2008 07:03:43
Last two SSN digits Payments will be mailed by
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11
slambam
26-04-2008 23:22:22
[quote745f2ada81="TryinToGetPaid"]Last two SSN digits Payments will be mailed by
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11[/quote745f2ada81]
Actually thats partially wrong. It goes by last 2 of SSN and when you did your taxes, if you got your refund direct deposited, or received a paper check. So, like this
Direct Deposit Payments
If the last two digits of your Social Security number are Your economic stimulus payment deposit should be sent to your bank account by
00 – 20 May 2
21 – 75 May 9
76 – 99 May 16
Paper Check
If the last two digits of your Social Security number are Your check should be in the mail by
00 – 09 May 16
10 – 18 May 23
19 – 25 May 30
26 – 38 June 6
39 – 51 June 13
52 – 63 June 20
64 – 75 June 27
76 – 87 July 4
88 – 99 July 11
madmanx33
27-04-2008 03:14:15
[quote778f2399cb="CollidgeGraduit"]My money was spent on a Springfield XD45 Compact D[/quote778f2399cb]
I was going to do t he exact same thing. I was getting the same gun I was thinking .40 which caliber did you get
TOOOO BAD I dont qualify because my parents write down that im a dependent
theysayjump
28-04-2008 20:41:52
So did anyone get theirs today?
I didn't.
TravMan162
29-04-2008 13:44:51
[quote4dd8462b19="theysayjump"]So did anyone get theirs today?
I didn't.[/quote4dd8462b19]
no, but when we do let's have a party.
You bring the rock, i'll bring the party
manOFice
29-04-2008 13:48:45
the IRS treasury cashed my check today, so hopefully they'll send the refund direct deposit some time this week
TravMan162
29-04-2008 13:54:27
[quote52ebee6e5c="manOFice"]the IRS treasury cashed my check today, so hopefully they'll send the refund direct deposit some time this week[/quote52ebee6e5c]
sweet. you're invited to TSJ and I's party.
Dammit. I know "I's" is not even close to a word but I had a mental block on what to say there.
I am shamed.
doylnea
29-04-2008 14:10:11
my
(grammar tip - remove the other party from the sentence, and from there, you should be able to choose the right word. this also works for 'me' versus 'I')
theysayjump
29-04-2008 14:17:56
[quotea085529026="manOFice"]the IRS treasury cashed my check today, so hopefully they'll send the refund direct deposit some time this week[/quotea085529026]
How do you know they cashed it?
manOFice
29-04-2008 14:20:44
[quote67e0929e1a="theysayjump"][quote67e0929e1a="manOFice"]the IRS treasury cashed my check today, so hopefully they'll send the refund direct deposit some time this week[/quote67e0929e1a]
How do you know they cashed it?[/quote67e0929e1a]
I looked at my online banking
manOFice
30-04-2008 08:31:10
I"ve read around and some people with 01 as the last two digits got their direct deposit of the refund already.
Everyone keeps talking about if you received your tax return by direct deposit then they'll direct deposit your refund. But I owed taxes, and on turbo tax i put that I wanted to receive my refund via direct deposit and provided my bank account info. but I paid my amount due with a check (which they cashed already), so i'm hoping i get direct deposit and not a check ...
Edit My coworker 06 just got his refund
slambam
30-04-2008 19:53:56
I work at a CU and some people expecting them this week have gotten them, and some haven't. They seem to be spreading them out throughout the week.
theysayjump
30-04-2008 19:58:32
[quotecbe133f5a3="manOFice"]I"ve read around and some people with 01 as the last two digits got their direct deposit of the refund already.
Everyone keeps talking about if you received your tax return by direct deposit then they'll direct deposit your refund. But I owed taxes, and on turbo tax i put that I wanted to receive my refund via direct deposit and provided my bank account info. but I paid my amount due with a check (which they cashed already), so i'm hoping i get direct deposit and not a check ...
Edit My coworker 06 just got his refund[/quotecbe133f5a3]
Hmmm......I'm a 07 and still nothing. What are you?
manOFice
01-05-2008 19:30:50
[quoteeff6ad79dc="theysayjump"][quoteeff6ad79dc="manOFice"]I"ve read around and some people with 01 as the last two digits got their direct deposit of the refund already.
Everyone keeps talking about if you received your tax return by direct deposit then they'll direct deposit your refund. But I owed taxes, and on turbo tax i put that I wanted to receive my refund via direct deposit and provided my bank account info. but I paid my amount due with a check (which they cashed already), so i'm hoping i get direct deposit and not a check ...
Edit My coworker 06 just got his refund[/quoteeff6ad79dc]
Hmmm......I'm a 07 and still nothing. What are you?[/quoteeff6ad79dc]
I 64, but my co-worker who is a 06 got it the other day
madmanx33
01-05-2008 20:41:19
don't forget guys you get taxed on this money
slambam
01-05-2008 21:33:42
[quote76a1bda0c1="madmanx33"]don't forget guys you get taxed on this money[/quote76a1bda0c1]
Not for everyone. I don't know about federal taxes, but many states (including mine, Iowa) have signed a bill that taxes do not need to be paid on these tax refunds, for state taxes obviously.
dmorris68
02-05-2008 05:22:23
[quote4d6e0bcff0="madmanx33"]don't forget guys you get taxed on this money[/quote4d6e0bcff0]
We've discussed this before. You do NOT get taxed on a tax rebate.
It IS an advance on next year's tax refund, and will be deducted from any refund you have coming in 2009. However, if you don't have any refund coming next year, then you won't owe any for this rebate -- you lucked out with free money.
manOFice
02-05-2008 05:53:43
[quotee64f0de144="dmorris68"][quotee64f0de144="madmanx33"]don't forget guys you get taxed on this money[/quotee64f0de144]
We've discussed this before. You do NOT get taxed on a tax rebate.
It IS an advance on next year's tax refund, and will be deducted from any refund you have coming in 2009. However, if you don't have any refund coming next year, then you won't owe any for this rebate -- you lucked out with free money.[/quotee64f0de144]
That will suck if you have a refund coming, hopefully i break even this year
bballp6699
02-05-2008 06:38:08
[quoted5806824ec="dmorris68"]
It IS an advance on next year's tax refund, and will be deducted from any refund you have coming in 2009. However, if you don't have any refund coming next year, then you won't owe any for this rebate -- you lucked out with free money.[/quoted5806824ec]
I never knew that. What a bunch of shit. So, if we actually make enough to get a decent return next year, we get the shaft?
CollidgeGraduit
02-05-2008 06:58:57
[quote615040d45f="dmorris68"][quote615040d45f="madmanx33"]don't forget guys you get taxed on this money[/quote615040d45f]
We've discussed this before. You do NOT get taxed on a tax rebate.
It IS an advance on next year's tax refund, and will be deducted from any refund you have coming in 2009. However, if you don't have any refund coming next year, then you won't owe any for this rebate -- you lucked out with free money.[/quote615040d45f]
Got mine direct deposited this morning.
So in theory I could change my withholdings so that less is withheld, and try to get as close to a 0 refund as possible? That way a lot less than 1200 is deducted.
manOFice
02-05-2008 07:03:25
[quote717fa4985f="CollidgeGraduit"][quote717fa4985f="dmorris68"][quote717fa4985f="madmanx33"]don't forget guys you get taxed on this money[/quote717fa4985f]
We've discussed this before. You do NOT get taxed on a tax rebate.
It IS an advance on next year's tax refund, and will be deducted from any refund you have coming in 2009. However, if you don't have any refund coming next year, then you won't owe any for this rebate -- you lucked out with free money.[/quote717fa4985f]
Got mine direct deposited this morning.
So in theory I could change my withholdings so that less is withheld, and try to get as close to a 0 refund as possible? That way a lot less than 1200 is deducted.[/quote717fa4985f]
If dmorris is correct then yes, then thats what i'll be doing
dmorris68
02-05-2008 07:18:05
That's what I've read, and I believe I posted an article about it earlier (not sure in which thread). I'll see what other confirmation of that I can dig up.
So if it holds true, then yeah, if you can get your federal withholdings tuned to where you break even, then you won't have to pay anything back.
[b31b071967f]EDIT GOOD NEWS![/b31b071967f]
Not only is it not taxable, but apparently the articles I read and posted earlier about it being deducted from next year's refund are also false. Straight from the horse's mouth at the IRS
http//www.irs.gov/newsroom/article/0,,id=182003,00.html
[quote31b071967f="IRS"]Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.
Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?
A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.[/quote31b071967f]
zr2152
02-05-2008 08:48:27
thank God.
DRay9911
02-05-2008 08:50:41
congrats
first person to get theirs on all of the boards that i check out.
-dan
[quote100b9f1eab="CollidgeGraduit"]Got mine direct deposited this morning.[/quote100b9f1eab]
theysayjump
02-05-2008 09:12:36
Got mine this morning too. D
DRay9911
02-05-2008 12:07:48
one of my co-workers told me at lunch she received $2100 today direct deposit....very cool for her and her family.
-dan
mistertomlinson
02-05-2008 19:48:01
If you have direct deposit.
Those with the last two SSN digits Payments will be transmitted no later than
00 through 20 - May 2
21 through 75 - May 9
76 through 99 - May 16
If mailed.
Last two SSN digits Payments will be mailed no later than
00 through 09 - May 16
10 through 18 - May 23
19 through 25 - May 30
26 through 38 - June 6
39 through 51 - June 13
52 through 63 - June 20
64 through 75 - June 27
76 through 87 - July 4
88 through 99 - July 11
csurge
05-05-2008 10:39:44
[quote302c135257="doylnea"]a) Wow what a surprise that the checks would be available in June - gee what will be in full swing in June 2008 in the U.S.?
b) I believe this money will arrive too late for most Americans, and is too little. If the economy does get to be as bad as many are forecasting, then i) $600 does nothing for the average consumer (as it's too small), ii) there will be far greater debts on the horizon that need paying, and the $600 is going to be spent on those debts/obligations, rather than on a cruise, imo.
c) Where's the money for this 'stimulus' coming from? There's already a $250B deficit - what's another $100B right, and oh by the way, let's secure those tax cuts permanently too, because that will help with the deficit. It's dumbfounding to me how a Republican has spent money like a liberal. And we'll just ignore the fact that should a democrat be elected as the next President, it will be their responsibility to fix the arrears of the deficit.
I need a beer.[/quote302c135257]
And here I was thinking I was alone as a Republican. doylnea is now my favorite admin/mod.
Liberal is short for liberal spender, and we're probably going to get a democrat for our next president. Oh wells. I heard the American dollar is still strong in most of South America lols.
TravMan162
05-05-2008 18:25:49
Which is ironic cuz it seems republicans love war, yet Doylnea is top bicker squasher around these parts. D
doylnea
05-05-2008 19:22:44
I am by no means a Republican.
TravMan162
05-05-2008 19:25:06
nor are you surge's favorite mod anymore D
Quadracer89
05-05-2008 19:33:31
Im working under the table this year? Does that mean I am SOL?
TravMan162
05-05-2008 19:34:52
[quote3473544f39="Quadracer89"]Im working under the table this year? Does that mean I am SOL?[/quote3473544f39]
no it means you should stop selling your body for money
Quadracer89
05-05-2008 19:38:56
[quote0ef3f5156d="TravMan162"][quote0ef3f5156d="Quadracer89"]Im working under the table this year? Does that mean I am SOL?[/quote0ef3f5156d]
no it means you should stop selling your body for money[/quote0ef3f5156d]
But I make upto $25 a night!!! shock
TravMan162
05-05-2008 19:41:47
[quote898c018ea5="Quadracer89"][quote898c018ea5="TravMan162"][quote898c018ea5="Quadracer89"]Im working under the table this year? Does that mean I am SOL?[/quote898c018ea5]
no it means you should stop selling your body for money[/quote898c018ea5]
But I make upto $25 a night!!! shock[/quote898c018ea5]
then you don't need that $600 lol
csurge
05-05-2008 19:55:42
[quote3489a37fad="TravMan162"]Which is ironic cuz it seems republicans love war, yet Doylnea is top bicker squasher around these parts. D[/quote3489a37fad]
You are confusing Republican in the classical conservative sense versus neo-cons who have wildly different interests as proven by dubya.
Also, doylnea - not my favorite mod anymore. He sounded republican (less wreckless spending and what not), but at least he isn't a liberal.
dmorris68
05-05-2008 19:57:47
I'm a Republican. A moderate, mind you, but slightly more right than left. So can I be your favorite mod now? P
ajasax
07-05-2008 09:19:42
Hmm....I just got a deposit in my account today for $458. I thought I already got my returns deposited. Oh well, now for another $600 in 2 days D
For those of you who had their stimulus deposited, what does it show up as on your banking statement?
Uh-oh. I just checked my statement and I already got a refund for my federal taxes ($200) in February. Could this just be an adjustment made by the IRS or lilooks over shoulderli
DRay9911
07-05-2008 09:49:51
i was speaking with a co-worker yesterday and talking about refunds and the stimulus and for her and her child, she received $850-something (i can't remember the exact amount) instead of 900 (600 for her and 300 for her child). she even received a letter telling her it was her stimulus payment.
i thought she was kinda nuts up until now.
-dan
manOFice
07-05-2008 10:12:06
still nothing for me, I hope i get it by direct deposit and not check
KeithA
07-05-2008 10:28:47
[quote8d6ba77b8b="manOFice"]still nothing for me, I hope i get it by direct deposit and not check[/quote8d6ba77b8b]
Did you request direct deposit (and provide your account and routing #s)? They don't just arbitrarily issue your rebate one way or another...
ILoveToys
07-05-2008 10:46:45
I got my 1200 last week friday by DD )
TryinToGetPaid
07-05-2008 11:26:37
Havent got mine either, I did DD and I am 58
ILoveToys
07-05-2008 11:28:02
i was 15.
dmorris68
07-05-2008 12:08:37
None here either and I'm 21, so they apparently don't do it in numerical order (unless they haven't done it for anybody in this week's batch).
TryinToGetPaid
07-05-2008 12:24:23
Check or DD Dmo?
dmorris68
07-05-2008 12:26:14
DD
manOFice
07-05-2008 12:40:42
[quote07b64a0382="KeithA"][quote07b64a0382="manOFice"]still nothing for me, I hope i get it by direct deposit and not check[/quote07b64a0382]
Did you request direct deposit (and provide your account and routing #s)? They don't just arbitrarily issue your rebate one way or another...[/quote07b64a0382]
on my tax return I provided my bank account and routing information for DD, I did not get a refund though, I owed and paid them through a check
ILoveToys
07-05-2008 12:52:39
I was talking to someone at work last week, and they said last week that they were going to be doing everyone from 00 to 20. I fell in that range and got paid on Friday, so maybe the next batch will go out this Friday.
DRay9911
07-05-2008 13:18:13
from
lithisli[=http//taxes.about.com/od/2008taxes/p/stimulus_rebate.htm]lithisli article, it sounds like you'll get it deposited
[quote3287d1bfac]How Rebates will be Processed The IRS will mail out two notices to taxpayers. The first notice will inform people about the rebate. The second notice will confirm the taxpayer's eligibility, amount of the rebate that the IRS has calculated, and when the taxpayer should receive the rebate payment. [b3287d1bfac]Rebates will be sent by direct deposit, if bank account information was provided on the 2007 tax return[/b3287d1bfac], or by paper check.[/quote3287d1bfac]
i paid too, that's why i didn't put my info (probably should have)
-dan
[quote3287d1bfac="manOFice"][quote3287d1bfac="KeithA"][quote3287d1bfac="manOFice"]still nothing for me, I hope i get it by direct deposit and not check[/quote3287d1bfac]
Did you request direct deposit (and provide your account and routing #s)? They don't just arbitrarily issue your rebate one way or another...[/quote3287d1bfac]
on my tax return I provided my bank account and routing information for DD, I did not get a refund though, I owed and paid them through a check[/quote3287d1bfac]
manOFice
07-05-2008 13:24:19
[quote921588dc86="DRay9911"]from
lithisli[=http//taxes.about.com/od/2008taxes/p/stimulus_rebate.htm]lithisli article, it sounds like you'll get it deposited
[quote921588dc86]How Rebates will be Processed The IRS will mail out two notices to taxpayers. The first notice will inform people about the rebate. The second notice will confirm the taxpayer's eligibility, amount of the rebate that the IRS has calculated, and when the taxpayer should receive the rebate payment. [b921588dc86]Rebates will be sent by direct deposit, if bank account information was provided on the 2007 tax return[/b921588dc86], or by paper check.[/quote921588dc86]
i paid too, that's why i didn't put my info (probably should have)
-dan
[quote921588dc86="manOFice"][quote921588dc86="KeithA"][quote921588dc86="manOFice"]still nothing for me, I hope i get it by direct deposit and not check[/quote921588dc86]
Did you request direct deposit (and provide your account and routing #s)? They don't just arbitrarily issue your rebate one way or another...[/quote921588dc86]
on my tax return I provided my bank account and routing information for DD, I did not get a refund though, I owed and paid them through a check[/quote921588dc86][/quote921588dc86]
Good article. When I did my taxes with turbo tax, it had an update with all the info/questions about the rebate check, it asked if I wanted to do DD with the rebate, I said yes and filled out the info. I then looked at my print out that that Printed and did find the section where it had my bank account info so hopefully we do get DD )
slambam
07-05-2008 16:22:37
If you had to pay in I believe you get a paper check either way, whether you put your direct deposit info on it or not. My parents had to pay in and used an automatic withdrawl from there account rather than writing a check. Even that way, they will get a paper check rather than the direct deposit, which is pretty lame.
manOFice
07-05-2008 16:24:51
[quoted8b6c9fbdb="slambam"]If you had to pay in I believe you get a paper check either way, whether you put your direct deposit info on it or not. My parents had to pay in and used an automatic withdrawl from there account rather than writing a check. Even that way, they will get a paper check rather than the direct deposit, which is pretty lame.[/quoted8b6c9fbdb]
well that plain sucks.....
puppeteer
07-05-2008 17:37:37
I filed my tax by paper... (instead electronically) 2 months later I've received my state check.. and still waiting on my federal check
bballp6699
09-05-2008 06:03:09
Nothing for me today... (
dmorris68
09-05-2008 06:05:48
[quotea8a8f84a8c="bballp6699"]Nothing for me today... ([/quotea8a8f84a8c]
Really? Ours showed up today as a pending DD. I've already transferred the funds to savings.
bballp6699
09-05-2008 06:40:09
Nothing. A coworker also did not receive his. Oh well, I can wait.
manOFice
09-05-2008 06:56:31
If I have to wait for a paper check, I have a longggg wait (
DRay9911
09-05-2008 07:56:36
the dates that have been posted everywhere are a general guideline (not a guarantee). one of the factors is if your return was processed by april 15th, not mailed in at the deadline.
-dan
TryinToGetPaid
09-05-2008 10:28:49
I got mine today.
manOFice
09-05-2008 10:36:37
[quotef3753ce589="TryinToGetPaid"]I got mine today.[/quotef3753ce589]
whats your last two digits?
TryinToGetPaid
09-05-2008 10:47:49
58
manOFice
09-05-2008 11:08:10
[quote866503cc2e="TryinToGetPaid"]58[/quote866503cc2e]
Well i'm 64... hrmmm
Does anyone know if you owed money for taxes and paid with a paper check but while doing taxes with turbo tax stated you wanted direct deposit for this refund and provided the account/routing information will be getting DD??
winkie
09-05-2008 11:35:36
mine is 26, and I still have not received my payment. I e-filed and received my refund via direct deposit back in March. grrrr
dmorris68
09-05-2008 11:49:05
FYI some banks process EFT (including direct deposit) transactions differently than others. For example, my bank shows me any transactions that are pending for today and adds the funds to my available balance -- however the transaction has not yet posted to my account, and my actual balance will not reflect those funds until the transaction posts to the account (during nightly batch processing). Some of your banks might already have the DD, but just don't show it to you until it posts. So if you're supposed to be in this batch and don't see it yet, maybe it'll show up tomorrow.
winkie
09-05-2008 13:49:12
dmorris,
very true. mine just showed up. P
TravMan162
09-05-2008 13:59:41
Got mine today. I can afford import beer instead of bud light tonight D
TryinToGetPaid
09-05-2008 14:49:17
Ha. I can afford Bud Light instead of Natty -)
Quadracer89
09-05-2008 19:36:11
[quote816fa8c561="TryinToGetPaid"]Ha. I can afford Bud Light instead of Natty -)[/quote816fa8c561]
liBarfsli
The thought of natty ice (especially warm natty ice) makes my stomach turn.
TravMan162
09-05-2008 19:45:02
that's why god made funnels
FreeOffersNow
09-05-2008 20:45:43
Got mine...$300 instead of the $600 I thought I'd be getting. I guess I wasn't as well-informed about the plan as I probably should have been.
theysayjump
09-05-2008 21:48:37
[quote5fd22dfe8a="FreeOffersNow"]Got mine...$300 instead of the $600 I thought I'd be getting. I guess I wasn't as well-informed about the plan as I probably should have been.[/quote5fd22dfe8a]
If I understand correctly (and I usually don't), being "informed" about the stimulus package doesn't affect the amount you receive. I was under the impression that as long as you filed a 2007 tax return and earned $3,000 or more you would receive $600.
Maybe I'm just assuming you made more than $3k last year. shrug
FreeOffersNow
09-05-2008 21:59:42
[quotedbc28f0b05="theysayjump"][quotedbc28f0b05="FreeOffersNow"]Got mine...$300 instead of the $600 I thought I'd be getting. I guess I wasn't as well-informed about the plan as I probably should have been.[/quotedbc28f0b05]
If I understand correctly (and I usually don't), being "informed" about the stimulus package doesn't affect the amount you receive. I was under the impression that as long as you filed a 2007 tax return and earned $3,000 or more you would receive $600.
Maybe I'm just assuming you made more than $3k last year. shrug[/quotedbc28f0b05]
I meant to say that, based on my understanding of the stimulus package, I was under the impression that I would be receiving $600....but in fact received $300. I suppose I'll have to look into it.
EDIT "...if you owe no 2007 taxes, but earned at least $3,000 in wages in 2007 or had Social Security, Railroad Retirement or certain veterans' benefits of at least $3,000 for the year, you will get a minimum rebate of $300 per person." <--- I "massaged" my numbers well enough to relieve myself of any tax liability (and actually get a refund)...so that explains it...I guess?
dmorris68
10-05-2008 07:48:22
[quoteae114d2573="FreeOffersNow"]EDIT "...if you owe no 2007 taxes, but earned at least $3,000 in wages in 2007 or had Social Security, Railroad Retirement or certain veterans' benefits of at least $3,000 for the year, you will get a minimum rebate of $300 per person." <--- I "massaged" my numbers well enough to relieve myself of any tax liability (and actually get a refund)...so that explains it...I guess?[/quoteae114d2573]
Getting a refund doesn't mean you didn't pay any taxes, you just paid too much. Now if you're saying you actually paid ZERO taxes at all on your return, and got back everything that was withheld through the year, then yes that would explain it why you got $300.
And way to go on subtle admission of tax fraud!
FreeOffersNow
11-05-2008 18:56:48
[quoteb7bd8881f0="dmorris68"]Getting a refund doesn't mean you didn't pay any taxes, you just paid too much. Now if you're saying you actually paid ZERO taxes at all on your return, and got back everything that was withheld through the year, then yes that would explain it why you got $300.
And way to go on subtle admission of tax fraud![/quoteb7bd8881f0]
I'm really not finding a 100% clear explanation on why I only got $300...but I'm not going to bitch about it either. Also, aggressive accounting doesn't always mean tax fraud...the information on my returns is accurate.
C Barry Smith
13-05-2008 15:09:02
This is my current plan. With my $300.00
Make any sense?
Barry
TravMan162
13-05-2008 16:24:04
[quotec886e51b27="C Barry Smith"]This is my current plan. With my $300.00
Make any sense?
Barry[/quotec886e51b27]
hahaha, oh my god. I actually laughed out loud on that one D
C Barry Smith
13-05-2008 16:32:03
Well I was serious TRAVMAN. At least it's a start. As slow as things are around here I could play for quite a while!
Barry
KeithA
14-05-2008 04:38:49
[quotee12f89dfad="C Barry Smith"]Well I was serious TRAVMAN. At least it's a start. As slow as things are around here I could play for quite a while!
Barry[/quotee12f89dfad]
What exactly is your plan? You mean trading?
Not picking on you, just making sure I understand what you meant by "this is my plan."
C Barry Smith
14-05-2008 05:01:29
Take my incentive and start paying on green rather than approval!
CMA198161
14-05-2008 11:10:44
If I get that much, that will help me out with my tuition for school this summer becaue I have to pay out of pocket.
TravMan162
14-05-2008 14:11:10
[quote0213727b79="CMA198161"]If I get that much, that will help me out with my tuition for school this summer becaue I have to pay out of pocket.[/quote0213727b79]
you can't get any financial aid? Or scholarships? Or grants? There's help out there, you just have to dig a little D
either way, that's an awesome thing to spend your money on, what are you going for???
And Barry, I totally misunderstood you and now I feel like a bit of a jack ass D
DRay9911
15-05-2008 16:55:10
did anybody get their $ so far this week?
it looks like tomorrow is the last day for direct deposit returns.
-dan
manOFice
15-05-2008 17:29:43
[quoted6e154ceb0="DRay9911"]did anybody get their $ so far this week?
it looks like tomorrow is the last day for direct deposit returns.
-dan[/quoted6e154ceb0]
ZZZZZZZzzzzzzzzzzzzzz roll
mistertomlinson
15-05-2008 19:13:35
My number is 84 and I STILL haven't gotten my direct deposit. I guess I'll get it tomorrow... just my luck!
bballp6699
16-05-2008 06:26:10
Still nothing. They must be sending me a paper check. Those bastards. I don't remember asking for a paper check.
KeithA
16-05-2008 06:31:03
OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.
manOFice
16-05-2008 07:02:05
[quote4734872c07="bballp6699"]Still nothing. They must be sending me a paper check. Those bastards. I don't remember asking for a paper check.[/quote4734872c07]
Same, except I asked for direct deposit and provided my banking info on my taxes.
bballp6699
16-05-2008 07:18:41
[quoteb8b48d15a2="KeithA"]OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.[/quoteb8b48d15a2]
Since you brought it up, you have to go with C.
EDIT I wasted my 6000th post telling you to buy a ring... (
KeithA
16-05-2008 08:02:08
[quotea1df26bf64="bballp6699"][quotea1df26bf64="KeithA"]OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.[/quotea1df26bf64]
Since you brought it up, you have to go with C.
EDIT I wasted my 6000th post telling you to buy a ring... ([/quotea1df26bf64]
hhahaha. Well, I've already got enough saved to get her a nice enough ring. I'm just not sure what the limit is with these things. (And no, I don't really believe in the "2 months salary" rule.)
manOFice
16-05-2008 08:06:50
[quoteee07232c72="KeithA"][quoteee07232c72="bballp6699"][quoteee07232c72="KeithA"]OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.[/quoteee07232c72]
Since you brought it up, you have to go with C.
EDIT I wasted my 6000th post telling you to buy a ring... ([/quoteee07232c72]
hhahaha. Well, I've already got enough saved to get her a nice enough ring. I'm just not sure what the limit is with these things. (And no, I don't really believe in the "2 months salary" rule.)[/quoteee07232c72]
Save it and just get a ring that has thought and meaning, no need to even spend 1200 bucks on a ring if you ask me...
CollidgeGraduit
16-05-2008 08:06:54
[quotea12fd556d9="KeithA"][quotea12fd556d9="bballp6699"][quotea12fd556d9="KeithA"]OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.[/quotea12fd556d9]
Since you brought it up, you have to go with C.
EDIT I wasted my 6000th post telling you to buy a ring... ([/quotea12fd556d9]
hhahaha. Well, I've already got enough saved to get her a nice enough ring. I'm just not sure what the limit is with these things. (And no, I don't really believe in the "2 months salary" rule.)[/quotea12fd556d9]
I spent about $1000 on my wife's engagement ring. It wasn't anything extravagant, just a really nice looking solitaire.
KeithA
16-05-2008 08:09:11
[quote5f2c0e31c5="CollidgeGraduit"][quote5f2c0e31c5="KeithA"][quote5f2c0e31c5="bballp6699"][quote5f2c0e31c5="KeithA"]OK, here are my options for this thing
a) Put it directly towards the principal on my car loan
b) Put it into my emergency savings account
c) Put it towards an engagement ring
Probably going with A. But I still haven't received mine either, and I expected to this week.[/quote5f2c0e31c5]
Since you brought it up, you have to go with C.
EDIT I wasted my 6000th post telling you to buy a ring... ([/quote5f2c0e31c5]
hhahaha. Well, I've already got enough saved to get her a nice enough ring. I'm just not sure what the limit is with these things. (And no, I don't really believe in the "2 months salary" rule.)[/quote5f2c0e31c5]
I spent about $1000 on my wife's engagement ring. It wasn't anything extravagant, just a really nice looking solitaire.[/quote5f2c0e31c5]
Yeah, I am pretty sure I'm all set saving. That's why I put it at the bottom of the list. I have a feeling she'd be a bit frustrated if I spent too much when we could have put it towards a trip or something.
hehehhehe
16-05-2008 08:59:41
bballp6699
16-05-2008 09:08:01
Yeah, I've used that link before, but it never finds me.
tylerc
16-05-2008 09:44:33
Same. It's probably only good after you've received it or something lol
KeithA
16-05-2008 09:50:15
It couldn't find me either. But it does say that I should allow 2 weeks after the posted date (May 9).
doylnea
16-05-2008 11:09:39
[quote326be74a5f="irs website in big bold letters"]Specific Information about your Stimulus Payment will not be available until about one week before the payment is scheduled to be issued.[/quote326be74a5f]
bballp6699
16-05-2008 11:12:57
You know how the internet works, doylnea. I see blank boxes and a submit button, I'm not reading...
manOFice
16-05-2008 11:15:48
[quoteeca6821995="bballp6699"]Yeah, I've used that link before, but it never finds me.[/quoteeca6821995]
Ditto
doylnea
16-05-2008 11:55:19
[quote3708d12825="bballp6699"]You know how the internet works, doylnea. I see blank boxes and a submit button, I'm not reading...[/quote3708d12825]
i lol'd in rl.
KeithA
16-05-2008 13:30:55
Girlfriend just received this from TurboTax. I don't think I chose that payment option though.
[quote466c80ba28="TurboTax"]Dear Valued Customer,
We want to provide you with the most up–to–date information about the tax rebate to which you may be entitled.
Recently, you may have received a letter from the IRS advising you when to expect your Economic Stimulus Payment (rebate). That IRS letter may have inadvertently left off some important information. Taxpayers who chose to have their tax preparation fees deducted from their federal tax refund will receive their tax rebate in the mail, not via direct deposit.
Our records show that you chose this payment option in TurboTax. As a result, the IRS has determined that you will receive your tax rebate in the mail. This may result in you receiving your rebate on a date later than expected.
This situation, while not unique to TurboTax, is understandably causing some concern and confusion. To help further clarify the situation, below is the most current IRS rebate payment processing schedule, as well as additional resources about the tax rebates.
I hope you find this information helpful. If you still have questions, the best source for the most up-to-date information is www.irs.gov (see the "Rebate Payment Questions" link). [/quote466c80ba28]
bballp6699
16-05-2008 13:37:24
What do you know. I just got that in my email as well.
That explains it.
mercuryeyes001
17-05-2008 13:43:37
[quote63cd0abdfc="doylnea"]a) Wow what a surprise that the checks would be available in June - gee what will be in full swing in June 2008 in the U.S.?
b) I believe this money will arrive too late for most Americans, and is too little. If the economy does get to be as bad as many are forecasting, then i) $600 does nothing for the average consumer (as it's too small), ii) there will be far greater debts on the horizon that need paying, and the $600 is going to be spent on those debts/obligations, rather than on a cruise, imo.
c) Where's the money for this 'stimulus' coming from? There's already a $250B deficit - what's another $100B right, and oh by the way, let's secure those tax cuts permanently too, because that will help with the deficit. It's dumbfounding to me how a Republican has spent money like a liberal. And we'll just ignore the fact that should a democrat be elected as the next President, it will be their responsibility to fix the arrears of the deficit.
I need a beer.[/quote63cd0abdfc]
i agree with this alot.
Exactly what i was thinking.
TravMan162
17-05-2008 14:14:43
[quoteb4c415b6c1="mercuryeyes001"]
i agree with this alot.
Exactly what i was thinking.[/quoteb4c415b6c1]
Dan, what's this one smell like?
ajasax
17-05-2008 23:02:35
[quotede61bf04e4="mercuryeyes001"]i agree with this alot.
Exactly what i was thinking.[/quotede61bf04e4]
[bde61bf04e4]Wow Amazing!!![/sizede61bf04e4][/colorde61bf04e4][/bde61bf04e4]
Sig whore.
manOFice
25-05-2008 17:16:37
well i got my state tax refund yesterday, still waiting on tax rebate though
tylerc
25-05-2008 18:10:45
Mine is scheduled to be mailed June 6 D
yingyang
29-05-2008 11:38:54
Got mine already. It helped pay bills. )
tylerc
29-05-2008 14:45:17
Mine's going into my IRA D
bruman
07-06-2008 18:50:12
I just figured out I'm not getting a check because my parents have me filed as a dependent and I'm over 18 (. Even though I paid the govt $2,000 in 2006 and $1,000 in 2007 for income taxes.
tylerc
07-06-2008 20:31:51
Apparently my parents didn't file as a dependent for me, it should be here any day now, scheduled to be delivered June 6th.
DRay9911
09-06-2008 14:05:51
i just heard an obama sound bite on abc radio about another round of stimulus checks. i did a quick google search and found this
lilinkli[=http//money.cnn.com/2008/06/09/news/economy/obama_economy_changetour/?postversion=2008060915]lilinkli
[quoteff1197ac90]"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.
He said that he supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks. [/quoteff1197ac90]
-dan
Got mine in the mail today. Time to pay off those hospital bills. ?
islelady
11-06-2008 08:15:56
[quotebbc3713af8="DRay9911"]i just heard an obama sound bite on abc radio about another round of stimulus checks. i did a quick google search and found this
lilinkli[=http//money.cnn.com/2008/06/09/news/economy/obama_economy_changetour/?postversion=2008060915]lilinkli
[quotebbc3713af8]"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.
He said that he supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks. [/quotebbc3713af8]
-dan[/quotebbc3713af8]
Thanks for the link, hmmmm, not sure if it's such a good idea but I won't turn down the money.
I got 1200 and put it right in savings, my husband is a carpenter, he's still busy at the moment but with the economy and the price of utilities/gas, I won't go on a spending spree just yet.
tylerc
11-06-2008 08:19:57
I got mine yesterday for $300 )
manOFice
11-06-2008 08:25:27
[quotecce715ddf5="tylerc"]I got mine yesterday for $300 )[/quotecce715ddf5]
whats your last two digits?
tylerc
11-06-2008 08:32:30
23, I got a letter about a week before the check saying to expect a check, lol. The "official" date it was mailed was June 6th, received June 10th.
manOFice
11-06-2008 08:33:02
damn i got aways still
DRay9911
11-06-2008 09:28:08
?
-dan
[quotea942732272="manOFice"]damn i got aways still[/quotea942732272]
manOFice
11-06-2008 09:52:30
[quote3a175b77f4="DRay9911"]?
-dan
[quote3a175b77f4="manOFice"]damn i got aways still[/quote3a175b77f4][/quote3a175b77f4]
I still have a while of waiting till I get mine
DRay9911
11-06-2008 13:24:07
it's only a couple of weeks
64-75 June 27
i'm 72 so i'm in the same group
-dan
manOFice
24-06-2008 07:45:28
The IRS site finally updated for me, it says 1200 dollars will be deposited into my bank account on june 27th.... I thought they were done with direct deposits...
bballp6699
24-06-2008 08:48:10
Got mine yesterday.
doylnea
24-06-2008 09:26:30
[quotee4b1d966cb="bballp6699"]Got mine yesterday.[/quotee4b1d966cb]
by check or direct deposit?
bballp6699
24-06-2008 11:31:36
Checks. My fiance also got hers yesterday.
manOFice
27-06-2008 05:22:32
FINALLLY
ACH CREDIT US TREASURY
TAX REFUND ON 06/27 Credit Pending
$1,200.00
zr2152
01-07-2008 12:26:36
I should be getting mine by next week if the schedule is still on track for paper checks.
ESMcCready
01-07-2008 12:40:16
Yea, I'm suppose to get mines July 11th but I don't know. So far, I don't think anyone has gotten theirs shipped off when they were suppose to...
I'm only getting $300 supposely...which sucks...but better then nothing.
DRay9911
01-07-2008 13:55:56
i received the 'you'll be getting your payment shortly' letter yesterday. the actual check should be here any day now.
-dan
DRay9911
08-07-2008 06:37:40
pulled my check out of the mailbox this morning, woo hoo.
can't wait until soon-to-be-president obama gives the 'ok' for another round of checks!
-dan
zr2152
08-07-2008 06:57:55
How do I know if I am getting $600 OR $300? I filed as an independent from my parents and got money back from the government.
tylerc
08-07-2008 07:04:35
Well the government spent $42 million on letters to tell everyone they're getting checks for ____ a week from when they receive the letter, so whenever you get the letter you'll know.
zr2152
08-07-2008 07:05:36
ahhh okay. Thanks.
doylnea
08-07-2008 08:07:28
[quoteeaeb391461="DRay9911"]pulled my check out of the mailbox this morning, woo hoo.
can't wait until soon-to-be-president obama gives the 'ok' for another round of checks!
-dan[/quoteeaeb391461]
Yep, got mine yesterday, the $600 was a nice bonus.
Now W, what was it that I was supposed to do with this money, fill my car's gas tank, or prop up the US dollar abroad? Just let me know, mmkay?
doylnea
08-07-2008 08:08:21
DRay9911
20-10-2008 12:02:54
sweet!
http//www.msnbc.msn.com/id/27277381/
[quotee5b777a327]
Bush, Bernanke Time is right for new stimulus
Fed chief warns nation’s economic weakness could last for some time
WASHINGTON - Momentum increased Monday for a new economic stimulus package as Federal Reserve Chairman Ben Bernanke endorsed extra help for the ailing economy, and the White House said it was open to the idea.
White House press secretary Dana Perino told reporters on Air Force One that the White House will have to see what kind of package Congress produces. Perino said the administration is uncertain that what has been put forward so far by Democratic leaders in Congress would not stimulate the economy.
Earlier Monday, Bernanke told the House Budget Committee the country’s economic weakness could last for a while and it was the right time for Congress to consider a new package.[/quotee5b777a327]
-dan
TravMan162
20-10-2008 14:15:06
I don't understand how all these "bailouts" and "stimuli" are really helping us out in the long run. It seems like bad economics to me.
tylerc
20-10-2008 14:57:41
The general idea is that people will take this money and use it to buy something extra; a new TV, put it towards a vacation, etc. The fact is, though, that most people work paycheck to paycheck, and are going to put it towards bills and other necessities, not extra. This is why tax cuts and economic stimuli should be given to people with the most disposable income. The wealth will trickle down (ideally), and the wealthy that buy a new TV, etc. will cause an increase in demand for those products, meaning the manufacturing companies have to hire more workers, giving more jobs to the working class.
TravMan162
20-10-2008 15:45:43
Exactly. My $600 went to car repairs. That's not really helping out middle america. It just seems to me that 300 billion or whatever the hell this costed could have been better spent with a little bit of careful planning and economic logic. Giving everyone a piece of the pie is great -- as long as there is indeed a pie.
Giving everyone money when there's no money to give doesn't make a goddamn bit of sense to me. It's also not helping that America is farming out all it's work to China. My company felt a direct impact of that.
Perhaps the trillions of dollars in deficit is a result of America's main source of income is farming out raw materials and then we just import the finished product. It saves some money but cripples others. Maybe they could start there with their new economic policies.
I don't know a lot, but some of this shit just doesn't make any sense from the outside looking in.
doylnea
20-10-2008 17:03:04
[quoted1b90ad321="tylerc"]This is why tax cuts and economic stimuli should be given to people with the most disposable income. [bd1b90ad321]The wealth will trickle down (ideally),[/bd1b90ad321] and the wealthy that buy a new TV, etc. will cause an increase in demand for those products, meaning the manufacturing companies have to hire more workers, giving more jobs to the working class.[/quoted1b90ad321]
Where can I buy some of your conservative kool-aid? Also, you'll want to try square your Reagonomics with
[your Free Market beliefs[=http//forum.freeipodguide.com/viewtopic.php?p=821782#821782][your Free Market beliefs as well...
theysayjump
20-10-2008 20:34:15
[quotecb6cb7c147="tylerc"]The general idea is that people will take this money and use it to buy something extra; a new TV, put it towards a vacation, etc. The fact is, though, that most people work paycheck to paycheck, and are going to put it towards bills and other necessities, not extra. This is why tax cuts and economic stimuli should be given to people with the most disposable income. The wealth will trickle down (ideally), and the wealthy that buy a new TV, etc. will cause an increase in demand for those products, meaning the manufacturing companies have to hire more workers, giving more jobs to the working class.[/quotecb6cb7c147]
I know next to nothing about economics, so I could be way off base here, but common sense would lead me to believe that the people with the most disposable income would be spending their money in the economy anyway. If they have money to waste, they'll waste it, so why give them more to waste? I also doubt manufacturing companies will hire more people just because the rich have more money for a couple of months and if they do, it would likely be on a temporary basis meaning after the stimulus package fever had dissipated we'd just go back to the same as it was before they got the money.
Isn't part of the problem that we're in this mess at the moment because people were living above their means and buying things they didn't need, getting into credit card debt etc? Surely this would just spur more of that or at least not help to rectify the situation since they'd be spending money on "stuff" instead of bills or debts.
Wouldn't less people in debt be better for the economy because there would be more people with more disposable income, therefor meaning that it shouldn't be the people with the most disposable income who get the cash, it should be us small fries who are in debt who get it (not that I'm debt, but I compare myself with others making roughly the same (16k a year) who go into debt because they can't afford to get by)?
zr2152
20-10-2008 20:55:58
They should just send out best buy giftcards or something...
tylerc
20-10-2008 21:22:36
[quotec6e89a2785="doylnea"][quotec6e89a2785="tylerc"]This is why tax cuts and economic stimuli should be given to people with the most disposable income. [bc6e89a2785]The wealth will trickle down (ideally),[/bc6e89a2785] and the wealthy that buy a new TV, etc. will cause an increase in demand for those products, meaning the manufacturing companies have to hire more workers, giving more jobs to the working class.[/quotec6e89a2785]
Where can I buy some of your conservative kool-aid? Also, you'll want to try square your Reagonomics with
[your Free Market beliefs[=http//forum.freeipodguide.com/viewtopic.php?p=821782#821782][your Free Market beliefs as well...[/quotec6e89a2785]
You can live in Indiana for 20 years.
dmorris68
21-10-2008 06:46:46
[quotedf42c9497c="theysayjump"]Isn't part of the problem that we're in this mess at the moment because people were living above their means and buying things they didn't need, getting into credit card debt etc? Surely this would just spur more of that or at least not help to rectify the situation since they'd be spending money on "stuff" instead of bills or debts.
Wouldn't less people in debt be better for the economy because there would be more people with more disposable income, therefor meaning that it shouldn't be the people with the most disposable income who get the cash, it should be us small fries who are in debt who get it (not that I'm debt, but I compare myself with others making roughly the same (16k a year) who go into debt because they can't afford to get by)?[/quotedf42c9497c]
To a point yes, but keep in mind a [idf42c9497c]healthy[/idf42c9497c] amount of debt is lubricant to a well-functioning economy. Leveraging credit is not a bad thing, in fact it's a good thing, as long as it isn't abused. The problem is your average American doesn't know when to stop (and I'm as guilty as anyone). But without credit, most businesses -- whether borrower or lender -- would cease to function. In fact, one of the major contributors to a financial market crisis like this is loss of confidence by not just consumers, but businesses and financial institutions themselves. Banks thrive on lending between themselves, but when they get nervous they hoard cash and stop lending, and the ripple effect can be devastating.
The current problems with the economy are not due to any one thing, least of all consumer revolving debt (i.e. credit cards), but rather a perfect storm of many conspiring factors. While Americans as a whole have traditionally relied more on revolving debt than they should, such debt really has very little to do, if anything, with causing the current economic crisis. A far greater impact was due to bad mortgages, with people buying way more house than they can afford due to enticing ARM terms (that they were either too ignorant or too "star-struck" to see through) and low or nonexistent credit qualification standards. Banks not only allowed, but even promoted this sort of reckless debt. The inevitable collapse of that sub-prime mortgage market started a ripple effect of bank failures leading all the way up to the mighty Fannie Mae and Freddie Mac, dragging investors and Wall Street into the crisis as well due to suddenly worthless stocks and the loss of confidence by investors.
I'm certainly NOT a fan of socialism/nationalism or the government over-regulating private industry, but when the well-being of our entire country (and even the world) hinges on a particular industry, then there needs to be some degree of oversight to keep greed and corruption in check. I wasn't crazy about the bailout but I do see it as a necessary evil to help stave off a total collapse, which would be far more costly and disastrous. It's one of those "damned if you do, damned if you don't" scenarios if I've ever seen one. I don't think the greedy and unscrupulous companies should be "helped" but should rather be left to wither and die (and their leadership punished), but at the same time I don't want to see our whole economy dragged into collapse because of them.
Here's a NYT article with a decent explanation of what's going on with the economy, for those who are understandably having a hard wrapping their head around it
Everything You Need to Know About the Financial Crisis[=http//freakonomics.blogs.nytimes.com/2008/10/15/everything-you-need-to-know-about-the-financial-crisis-a-guest-post-by-diamond-and-kashyap]Everything You Need to Know About the Financial Crisis
doylnea
21-10-2008 07:40:37
[quote2b3c1b0936="dmorris68"][quote2b3c1b0936="theysayjump"]Isn't part of the problem that we're in this mess at the moment because people were living above their means and buying things they didn't need, getting into credit card debt etc? Surely this would just spur more of that or at least not help to rectify the situation since they'd be spending money on "stuff" instead of bills or debts.
Wouldn't less people in debt be better for the economy because there would be more people with more disposable income, therefor meaning that it shouldn't be the people with the most disposable income who get the cash, it should be us small fries who are in debt who get it (not that I'm debt, but I compare myself with others making roughly the same (16k a year) who go into debt because they can't afford to get by)?[/quote2b3c1b0936]
A far greater impact was due to bad mortgages, with people buying way more house than they can afford due to enticing ARM terms (that they were either too ignorant or too "star-struck" to see through) and low or nonexistent credit qualification standards. Banks not only allowed, but even promoted this sort of reckless debt. The inevitable collapse of that sub-prime mortgage market started a ripple effect of bank failures leading all the way up to the mighty Fannie Mae and Freddie Mac, dragging investors and Wall Street into the crisis as well due to suddenly worthless stocks and the loss of confidence by investors.[/quote2b3c1b0936]
To be even more clear, it wasn't and isn't the ARM mortgages, and over-leveraged positions of the housing market that caused the failure of Bear Stearns, and then Lehman, (which helped trigger the current crisis). It was instead those companies who sold the sub-prime mortgages as securitized assets; that is assets with absolute value, not the fluctuating value that they actually have. Because mortgage brokers et. al. convinced people that housing prices would continue to rise, people were willing to over-mortgage themselves 'knowing' that their house would always rise in value.
However, when those mortgages were sold as assets, the companies buying them thought (foolishly/naively/stupidly/arrogantly/insert other word here) those mortgages would continue to return money to them, as the mortgagee (the person paying the mortgage) would continue to pay on time. Once the mortgagees stopped paying on time, those assets became way less valuable.
The reason all this matters is that those mortgages that were sold were used as capital and to backstop other investments by the I-banks. Once there wasn't the same capital in place to backtop the other investments, all hell broke loose.
zr2152
03-11-2008 21:45:13
So I JUST got my $600 today in the mail. My parents friend did our taxes and they accidentally filed me as a dependent when I should not have been claimed at all.
Our accountant filed an amended return but I had not heard anything or seen a check. I wrote a formal letter to the IRS about 4 weeks back or so and finally received a letter of response a few days ago and then got my check.
)
It was like waiting for a Brandarama Site.
DRay9911
06-02-2009 11:34:53
just in case anyone has any questions over the next 2 months
[bc73245fec9]Stimulus checks scrambling many tax returns[/bc73245fec9]
Last year’s payments not taxable, but IRS says 15 percent getting it wrong...
http//www.msnbc.msn.com/id/29041264/
-dan
DRay9911
10-04-2009 13:53:43
http//finance.yahoo.com/banking-budgeting/article/106889/7-Misconceptions-About-the-Stimulus
i don't like this new "stimulus" tax plan. i'm only getting $23.75 more per check. i looked at the net amount of my check today vs the net amount of my last (03/25) check.
sure, it's $570 over the course of a year, but i want it all at once.
-dan
slambam
11-04-2009 08:07:39
I agree. I'd rather keep my paychecks the same and get the extra $ at tax time.
manOFice
14-04-2009 20:05:15
so we're getting more money in our pay checks? When does this start?
slambam
14-04-2009 21:40:50
Right now, I got paid last week and they didn't take out as much federal.
manOFice
15-04-2009 06:15:23
[quoteec31396ea6="slambam"]Right now, I got paid last week and they didn't take out as much federal.[/quoteec31396ea6]
interesting, i'll have to look at my pay stubs
RolltheStampede
16-04-2009 16:27:57
cant really tell since i had OT in this check
SkatingCrippled
16-04-2009 17:46:46
[quote60778ec291="RolltheStampede"]cant really tell since i had OT in this check[/quote60778ec291]
I've got OT in all of my checks, and I only work 21 hours a week right now lol.
But I've definitely noticed a decrease in my federal taxes.
KeithA
17-04-2009 08:43:39
I wish i were getting it all at once...I owed a big chunk this year due to one of my employers withholding way too little -/