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My free tax rebate ...

Discussion in 'Uncategorized Threads' started by lumper, Jan 24, 2008.

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  1. lumper

    lumper TS Member

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    Since they are now fully approved and are going to be sent out what are you going to be doing with yours?

    Me? I'm going to get me the Dale Carnegie book "How to Win Friends and Influence People" and read it from cover to cover.

    I might also buy me ... um ... heck ... I might buy me a bag of cheap $50 shot with whats left over.
     
  2. Jeff P

    Jeff P Well-Known Member

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    Don't count your money yet lumper...it phases out above certain income levels.

    I don't know what they are, exactly...but I'm certain not to see a dime.
     
  3. lumper

    lumper TS Member

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    Phases out at $75000 for single and $150000 for married and even if you earned so little that you did not have to pay taxes you get money from them ... now that part is a serious joke.

    I cant wait to get my refund ... but ya know ... I wish I was in the income level that would make it so I would not see the money either.
     
  4. Bocephas

    Bocephas Well-Known Member

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    As my Grandad use to say,don't count your chickens before the eggs hatch.

    Bo
     
  5. comp 1

    comp 1 Well-Known Member

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    Wonder how much of that free money going to those who didn't pay taxes will go for dope? I may or may not get anything but it 's a crying shame to give my money to somebody who don't work and call it a rebate--Does anyone see any resemblance to SOCIALISM?
     
  6. Chichay

    Chichay TS Supporters TS Supporters

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    This is NOT a tax rebate; it's income redistribution. Note that even if you did not pay any taxes you get $300, but if you paid a lot of taxes (for a couple earning greater than $150,000) you get nothing. Cesar
     
  7. comp 1

    comp 1 Well-Known Member

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    Likes to shoot,that's a shame ,I'll bet the price of dope will go up by then and those bums who never worked but got our money anyway,and make no mistake it is our money,won't be able to afford as many fixes.
     
  8. AAA 27 AAA

    AAA 27 AAA TS Member

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    The money will be in the hands of qualified U.S. citizens within the next two to three weeks at best and no later than four to six weeks, as finance Congressman have stated. And yes, many Americans will spend it on things that won't help the economy a bit. On the other hand, if you happen to qualify, do your part and spend it to boost the economy. But, like most Americans, they won't be spending it for the motivational purposes of stimulating the economy. I for one, if qualified, will take mine straight to Dick's, Sportsman's Warehouse, Wal Mart, Bass Pro Shops and spend the hell out of it. I refuse to pay on any debt, or buy fuel made from Arab oil. I don't even have a problem with sending the money to low income families who haven't paid taxes. Simply because our Government is attempting stimulate a sluggish economy. These low income people will more than likely spend it on things that will boost the economy.
     
  9. X2 fan

    X2 fan Active Member

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    I think most people will simply spend it to pay off debts to keep the wolves at bay a bit longer.

    Tim
     
  10. trappermike

    trappermike Well-Known Member

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    ChiChay, watch out, I tried to say the same thing on another thread and AJ000 got all sorts of excited.

    Duck, Trappermike
     
  11. perazzitms

    perazzitms TS Member

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    It's phased above $150,000, and eliminated above $174,000.

    _An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.

    _A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.

    _A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.

    _A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.

    _A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by 50 percent for this family. A $900 rebate.

    _A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.

    _An individual with adjusted gross income of $23,000 and no dependents would get a rebate of $600.

    _A couple with adjusted gross income of $160,000 and two children would get a rebate of $1,300.

    _A couple with adjusted gross income of $184,000 and two children would get a $100 rebate.


    Now for the real deal. It's not a REFUND - it's a REBATE, and Congress ain't done screwing with it yet. Your standard tax refund for one year is listed as income for the next. Everybody's tax rebate will be listed as income on their 2008 taxes. What's your tax bracket? 25-30%. 25% of your $600 is $150 - that's what you'll pay Uncle Sam next year for the $600 he 'gave' you this year. So if you spend your whole $600, it's actually going to COST you about $150.


    (Yea, I know - it's actually a little less, but you get the idea.)
     
  12. grnberetcj

    grnberetcj Active Member

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    Mine's already spent, actually will be in March/April as I'll be adding onto the decks around the swimming pool and having a landscaper re-do some planting areas. So far, my material cost estimates are over $3500.00. I was going to do it anyway, but the rebate is a nice way to off-set the total costs.

    Then again, I may just buy $1200 of shot and/or new shells.

    No matter, the rebate will be spent and returned to the mainstream retailers almost immediately!

    Curt - Delaware
     
  13. oletymer

    oletymer Member

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    The checks will help the Chinese the most. Lower income folks will spend it on a bunch of chinese products.
     
  14. nipper

    nipper TS Member

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    This free is going to cost us in the long run

    Bill
     
  15. lumper

    lumper TS Member

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    Its just a bandaid type fix to make the common man/woman feel good while masking the real problems of our economy from them ... its like a spoon full of sugar to help the medicine go down ... dang that was a good song and Mary Poppins was HOT in that movie.

    Maybe I will get me a copy of that movie on DVD when I get my free tax rebate check in a few weeks.
     
  16. rwm12

    rwm12 Member

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    The way I read the proposal yesterday the $1,200.00 is for working couples. Does this mean a retired couple with no earned income will not qualify?
     
  17. Tripod

    Tripod Well-Known Member

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    Iowa man!!
    I am gonna take mine to the casino and turn it into lots of $$$$$$$$$$$$!!
     
  18. esoxhunter

    esoxhunter Well-Known Member

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    If I remember correctly I pay taxes on my Social Security and my pension. Now if it is a "tax rebate"; I want to be rebated!!
     
  19. willing

    willing Member

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    Rwm- I'm wondering the same thing.

    Bill
     
  20. jbmi

    jbmi Well-Known Member

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    I think it will come just in time for the Grand, might as well spend it on something.
     
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