[momofsophia]

Originally Posted by erp0620

I think it's great! But is it just me that thinks a person who makes $75K a year isn't middle class? LOL

That is a single person, for a married couple it is $150,000. I think 75,000 as a single person is middle class, especially with the cost of living increasing as much as it has over the last few years. And it also depends where you live. In the small town I grew up in $75k would be a a lot of money, where I live now, not so much.

[Georg-iou]

Yeah I heard about this from what I gather a couple will get 1200.00 and for each child they have they will get an additional 300.00 per child. So if all goes the way they say hubby and I should get around 2100.00 (with us and the 3 kids). I sure hope it goes right we could seriously uses that extra money. Of course we won't be using it it "stimulate the eccomomy" we need to move in a bad way and that would really help. LOL

[targetaddict]

Sounds good to me. I remember getting the check a few years back. Do you think we could have another kid by then? Ha, ha! Just kidding! I don't need $300 more that bad.

The timing will be great for all those families planning summer vacations.

[A20SomethingMother]

Luckily, my FIL is a CPA......he broke it down for us, and even though i am a stay at home mom, I had a weekend job for awhile, so in tax terms, we were both working. So, we'll get 1200 probably for us working, and then 300 per kid.....I have no idea what I would actually do with upwards 1800, but probably pay off debt.

[Kmchamplin]

I think I might have to adopt a few more kids. Can you return them when I get my rebate?

[southerngirl]

Okay --- I am going to take a bad rap here but how in the sam hill is it okay for someone who did NOT pay taxes to get a rebate. I have a huge problem with the fact that 30% of the people getting this rebate did NOT pay taxes to start with.
(referencing -- Those who made $3000 and did NOT pay taxes will get $300)

BTW -- I am definately middle class -- DH and I work our tails off to make our combined income of >75K but <150K. We are in the group that pays out a ton of taxes but gets a bad rap. There is nothing "wealthy" about my life -- I have to budget to meet my monthly bills and pay 30% of my >75k but <150k to the government as taxes. Yes it does irritate me to hear that I don't "deserve" a tax rebate but that someone who paid NO taxes does.

If one really wants to stimulate the economy -- Give businesses the tax breaks and incentives. The employers of Americans are the ones who keep this country going. The better your employer does -- the better you have the opportunity to do. Just think if your company had the incentive to expand/upsize/ etc... More Jobs= Better Economy

But then -- that would really hack off those that just see "the rich getting richer" and can't see the bigger picture.

[CarolynC]

Originally Posted by erp0620

I think it's great! But is it just me that thinks a person who makes $75K a year isn't middle class? LOL

I am thinking their middle is my upper class!! This will be interesting to see how it plays out in our situation. I had my own business for part of the year and had to sell it due to illness, but if I make too much money, I'll lose my medical benefits!! It's gonna take awhile for me to do my taxes this year!!

[lilac48604]

You're not the only person feeling that the people that didn't pay taxes shouldn't get a tax rebate. How can you give a rebate to people who haven't paid anything? I heard that originally the plan was to give the tax payers $800 and the non taxpayers $0 but congress wouldn't go for it.

I hate to be a fellow party pooper, but last time they did this in 2001 they took the cash out of the next year's tax return. So you were just getting your own money back. And for the people who don't have to pay taxes, this is cash that's free and clear. I don't see how this benefits me. I'm a single parent and work my tail off for every penny...this money is just decreasing next year's tax return. If I wanted to do that, I'd just adjust my w4 to not pay taxes for a couple weeks and then readjust it to take a smidge extra out.

Ok...so I'm a bit of a party pooper...but it's just frustrating that I'm working my tail off trying to get through and people who don't pay taxes are getting tax-payer dollars free and clear.

I think I'd better be quiet now! Before I offend more people.

[A20SomethingMother]

Well, I personally think it's great because I don't know a single person who can't use a little more money. And with all the ways we try to save money, why not get a little something back? Considering all the money in the surplus we did have 7 years ago has now turned into a trillion dollar deficeit for the country....

[scorpio99]

Wow sounds good to me. But, I will not count my chickens before they hatch I guess. I sure would like a vacation though.

[kvilledrummer]

Originally Posted by lilac48604

You're not the only person feeling that the people that didn't pay taxes shouldn't get a tax rebate. How can you give a rebate to people who haven't paid anything? I heard that originally the plan was to give the tax payers $800 and the non taxpayers $0 but congress wouldn't go for it.

I hate to be a fellow party pooper, but last time they did this in 2001 they took the cash out of the next year's tax return. So you were just getting your own money back. And for the people who don't have to pay taxes, this is cash that's free and clear. I don't see how this benefits me. I'm a single parent and work my tail off for every penny...this money is just decreasing next year's tax return. If I wanted to do that, I'd just adjust my w4 to not pay taxes for a couple weeks and then readjust it to take a smidge extra out.

Ok...so I'm a bit of a party pooper...but it's just frustrating that I'm working my tail off trying to get through and people who don't pay taxes are getting tax-payer dollars free and clear.

I think I'd better be quiet now! Before I offend more people.

Not quite the case.........

You get your rebate from the government and you will have to report it as income next year. However, say you got $1200 for married couple, both working. Your tax bracket would only be 25-28% to qualify for the rebate. So if you got $1200, you would pay $300-336 in tax on the rebate next year due to the increased income. Still a huge net benefit for you........

Although I agree that people that don't pay taxes shouldn't get a rebate, I understand their reasoning for doing it. Their goal is to get the money in the hands of people who will spend it......people who have the least will definitely spend it out of necessity. Without getting most of the people to spend it, all that we will get is a larger deficit without the short term economic benefit.

The Democrats' ideas (read: Hillary....Obama indicates he was for the rebate) were not to give a direct rebate but to put in place temporary entitlement programs to distribute money to the poorer portion of Americans only. For instance, one portion of her plan was to earmark around 10 billion for heating assistance for the poor. Instead of all of the money going to the poorest who paid the least, the rebate is a compromise. Giving rebates to those that didn't pay is still an entitlement in a sense, but they get much less than those that paid & probably less than they would have as a direct entitlement.

PS - I'm not against helping the poor that really need assistance & are trying to make it legitimately. My problem with entitlements is knowing that scammers & people working the system get way more than their fair share of free tax dollars & the government is not very efficient at weeding them out.......

[needablessing]

I was reading some responses on this whole thing on AOL news & one person had a real good point...
He said "All they will be doing is going out & spending it on everything 'Made In China' & they will be doing nothing but boosting China's economy!"
Think about it....how sad, but true.

[wendy1214]

Question?? I remember last time they did something like this, it was actually like an "advance" on our tax return for the following year. So when you go to file next years taxes, your refund amount would be less the amount you get now. Anyone hear anything like that?

[Nerthy]

To me this sounds like they are giving us some candy.(You attract more flies with sugar then vinegar right?) Isn't there an election soon? I'm not saying that they are trying to "buy" us but it is a weird coincidence. (Last time it was near 9/11 weird again...) I'm not trying to start a political debate, but it smells fishy.

Hey, I need a new mattress and that is probably what I will do with that money and put the rest in savings. That money will work beautifully for that!

[A20SomethingMother]

Originally Posted by Nerthy

To me this sounds like they are giving us some candy.(You attract more flies with sugar then vinegar right?) Isn't there an election soon? I'm not saying that they are trying to "buy" us but it is a weird coincidence. (Last time it was near 9/11 weird again...) I'm not trying to start a political debate, but it smells fishy.

Hey, I need a new mattress and that is probably what I will do with that money and put the rest in savings. That money will work beautifully for that!

I dont think that is the case at all. Pres. Bush basically ordered the Senate to bi partisanly create a economic stimulus package that would boost the economy without raising taxes to pay for it. So, no side really got their way. But the economy needs it--because our stock market has done so bad the past two months, London, Asia and other abroad markets have done terribly as well.

[mississippi queen]

On CNN this am they were talking about it. Unfortunately the US is going to have to borrow some of the money from China and then the consumers from the US will hopefully use it to buy things and stimulate the economy. However most of the "things" the consumers buy will come from where else? China!
With the craptastic cold winter here much of the money will be going to just heat peoples homes.

[bodacious]

Originally Posted by erp0620

I think it's great! But is it just me that thinks a person who makes $75K a year isn't middle class? LOL

It depends on where the person lives. Is this in LA? or in BFE, Utah?? Location makes a HUGE difference.

[Kcash69]

I'm still not clear on how this would work for married couples when only one person is employed.
Do both parents get the $600 or just the one that is employed?
I agree with most that I would rather not recieve the money until we file our 2008 taxes. I guess we can stick it in the bank and make interest off of it.

[momofsophia]

I think if you file married filing joint you get 1200 no matter if one or both is working. I am not 100% positive though.

[Wednesday]

A radio station yesterday said, "When the government says there is money on the floor, you still have to BEND OVER to pick it up."

Sounds great, don't get me wrong, but where are they getting this "money"?

Yup goes on our taxes next year.

The timing seems strange because most people will be getting their tax refunds about the same time.

Location and income definitely come into play on this one. Whether you live in San Francisco or Charlotte. The pay is a huge difference

[mab171]

I will spend it gladly since they really want us to. LOL heck if they want to give me $2 back im all for it. We just ordered new carpet this will give us a good chunk of the money back. Maybe we can buy the 40" samsung lcd hdtv my dh has had his eye on because if i have to go into another store and have to stand and look at it for 10-15 minutes everytime i go into a store that has it im going to crack. he make me do this EVERYTIME!!
i keep telling him to just get the darn thing so we can stop visiting but he refuses.

[momofsophia]

The moeny will go to the national debt.

I don't think it will go against next years taxes. Last time they did this the reduced the lowest tax bracket from 15% to 10% of the first 6000 of income for individuals. Then you got the money early instead of waiting for your tax return the next year. So if you would have got 500 back as a refund without the rebate, you were now getting 1100 back. Most people got the rebate the prior year. Meaning 600 in the summer, the orginal 500 when taxes were filed. If someone did not get the rebate in the summer they could get the full 1100 when taxes were filed. Everyone seems to think this is not an actual gain in money, but it is. With out the tax cut you would have only gotten the 500.

This year they have not announced a tax cut just the rebate checks. It appears they are refunding the 10% tax bracket for those who qualify but only for this year.

Hope this makes sense.

[2vette2camaro]

I think the whole point is to give the money to "poorer" people becuase they are the ones that will go out and spend it just liek when people get back income tax. We won't be getting anything, I don't guess cause we didn't work "real" jobs.

For the people talking about what constitutes middle class. I tell you her ein Arkansas if you make 20,000 a year you are high society. We make about $3000.00 a year and yes, we are classified as lower than poverty, but you wouldn't know it by looking at us. So I guess it does depend on where you live. I know people here in Arkansas who claim they make 75,000 a year and have NOTHING but maybe two car payments and a house they can't afford.

will get of the soap box now....

[CM_ANGEL]

What do u mean "real" job? Alot of us on here work "real" jobs. I worked a real job and yes I will be saving the money not spending it.

[slpjlc]

we are supost to get something in the mail about this I think some time soon. SO watch your mail to find out more and you can even get it direct deposited...