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2008 Economic Stimulus Package - How Much Will You Get?

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2008 Economic Stimulus Package - How Much Will You Get?

Old 01-25-08, 07:49 PM
  #126  
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Originally Posted by atlantamoi
Culled from a financial expert on ABCNews.com:

"Think of the tax rebate actually as an advance on next year's tax refund."

(lots of questions answered there... http://abcnews.go.com/WN/Story?id=4193525&page=1)

Urgh. I don't want or need an advance. Not into this idea at all.
but again it's an advance on a TAX CUT.
Remember - all things being equal 2008 = 2007 for your income and taxes, without this "advance" and WITH this tax cut (temporary) your total tax bill for 2008 would be LESS (bigger refund or less owed).

So WHY wouldn't you want this advance? You get the tax cut 8+ months early.

Again, it's not like you got a refund this year of $1,000 and you'd WERE going to get a refund next year of $1,000 (without this cut) and they are giving you $600 now and $400 later.
It is getting $600 NOW and still getting $1,000 later (due to the TAX CUT).
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Old 01-25-08, 07:52 PM
  #127  
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do you get $300 for a child if you are single and claim them or do you have to be married to get the kid money?
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Old 01-25-08, 07:52 PM
  #128  
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Originally Posted by General Zod
Well if this is all there is then everyone partying it up are really just getting some money in advance that they will either owe or won't get back next year. The only people actually really receiving "free" money are those who don't pay taxes.
all indication has been it's an ADVANCE of a tax cut for 2008 (just like 2001).
So all things being equal, you would not "owe" it later or get back less on next year's return.

It is an advance. But wording it an advance of next year's rebate really should be an "advance of next year's TAX CUT". So why wouldn't anyone want it now vs. later?
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Old 01-25-08, 07:55 PM
  #129  
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Originally Posted by Jacoby Ellsbury
do you get $300 for a child if you are single and claim them or do you have to be married to get the kid money?
single parents would get the $300 (assuming they were a dependent on yoru tax return)
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Old 01-25-08, 08:01 PM
  #130  
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Looks like $600 for me.
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Old 01-25-08, 08:02 PM
  #131  
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Originally Posted by briank
But wording it an advance of next year's rebate really should be an "advance of next year's TAX CUT".
Well, then that is certainly different. I think a lot of people are going to be confused without a proper explanation.
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Old 01-25-08, 08:06 PM
  #132  
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Since I'm single and didn't pay any taxes last year, that means I get $300, which will go towards a Nintendo Wii, if I can find one this summer.
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Old 01-25-08, 08:24 PM
  #133  
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Originally Posted by zekeburger1979
Since I'm single and didn't pay any taxes last year, that means I get $300, which will go towards a Nintendo Wii, if I can find one this summer.
You paid ZERO taxes last year and you're still getting $300 "back"?
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Old 01-25-08, 09:42 PM
  #134  
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Originally Posted by MartinBlank
You paid ZERO taxes last year and you're still getting $300 "back"?
From the CNN article:

"People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple."
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Old 01-25-08, 09:54 PM
  #135  
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$1500 here.
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Old 01-25-08, 10:14 PM
  #136  
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At least $170,000.
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Old 01-25-08, 10:18 PM
  #137  
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Originally Posted by X
At least $211,800.
Wilt? Is that you?

Shawn Kemp, maybe?

-p
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Old 01-25-08, 10:20 PM
  #138  
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Originally Posted by pedagogue
Wilt? Is that you?

Shawn Kemp, maybe?

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I just re-did the calculations. It's somewhat less.

And only 2 kids are figured in there. And no, I'm not Mormon.
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Old 01-25-08, 10:22 PM
  #139  
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Originally Posted by ukywyldcat
$0.

There is something wrong when someone who doesn't even pay taxes gets money and there are plenty of families who don't get anything simply because they earn too much.

On the other hand, there is something wrong with this entire package anyway. One of the dumbest things to ever come out of Washington.
Eh. He gets a one-time $600. You get to deduct your mortgage interest. I think you win.
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Old 01-25-08, 10:25 PM
  #140  
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Originally Posted by X
I just re-did the calculations. It's somewhat less.

And only 2 kids are figured in there. And no, I'm not Mormon.
Mitt is sad.

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Old 01-25-08, 11:00 PM
  #141  
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Originally Posted by MartinBlank
You just now heard that?

I guess it sort of depends...is my fish as nice/expensive as your fish? I don't wanna be stuck with catfish if you're enjoying salmon! How fair is that?!?
What freaking rock has my little buddy the zuffter been living under?
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Old 01-25-08, 11:02 PM
  #142  
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Originally Posted by 4KRG
It's far more complicated than that. Some people are afraid of sucess and having responsibility (the pressure and stress). Some people want to be happy in their work and money isn't their first focus.

Lazy certainly covers a few but not as many as you state IMO
Also, as has been stated, where you live makes a huge difference.
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Old 01-25-08, 11:11 PM
  #143  
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Looks like I might be getting back $1500 - and that will go straight to a credit card company.
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Old 01-25-08, 11:32 PM
  #144  
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Originally Posted by MartinBlank
You paid ZERO taxes last year and you're still getting $300 "back"?
IIRC, my "best year" was my wife paying in about $2,000 from her job and us getting over $5,000 back. Gotta' love that EIC and child credit. It's like welfare without the special debit card.
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Old 01-26-08, 12:16 AM
  #145  
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Originally Posted by 4KRG
Somehow the tax rebate thread has turned into the I make more than you thread
don't forget "i bet work harder than you for less money"
If i get paid big $$$ to do nothing-well, that just makes me smarter than you, so nothing to brag about
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Old 01-26-08, 02:04 AM
  #146  
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$1200 here...all goes toward purchasing our first home.

Last edited by argh923; 01-26-08 at 02:12 AM.
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Old 01-26-08, 02:12 AM
  #147  
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$900 which I'll probably put towards a vacation in Montana this summer.
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Old 01-26-08, 08:01 AM
  #148  
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Any ideas on what the Gov'mint are going to cut back on to afford this tax cut? In other words, if they hadn't given it away to you guys what would they have spent it on? Who loses out there?
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Old 01-26-08, 08:23 AM
  #149  
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Originally Posted by imperator505
Any ideas on what the Gov'mint are going to cut back on to afford this tax cut?
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Old 01-26-08, 09:00 AM
  #150  
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Originally Posted by imperator505
Any ideas on what the Gov'mint are going to cut back on to afford this tax cut? In other words, if they hadn't given it away to you guys what would they have spent it on? Who loses out there?
F-117's
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