Refund$$$$$$

[Spicoli]

:thumbup:

thanks!


Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.

House Speaker Nancy Pelosi said Congress would act on the agreement - hammered out in a week of intense negotiations and uncustomary bipartisanship - "at the earliest date, so that those rebate checks can be in the mail."

President Bush praised the agreement at the White House, saying it "has the right set of policies and is the right size."

The rebates, which would go to about 116 million families, had appeal for both Democrats and Republicans. Pelosi's staff noted that they would include $28 billion in checks to 35 million working families who wouldn't have been helped by Bush's original proposal. Republicans, for their part, were pleased that the bulk of the rebates - more than 70 percent, according to an analysis by Congress' Joint Tax Committee - would go to individuals who pay taxes.

Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.



I don;t know if this will actually help anything, but its going to be nice to gget that $1800 check. :D

[Sean Malone]

Now I can finally get my kegerator!!!!!!!!!!!!!!!!

[Spicoli]

Now I can finally get my kegerator!!!!!!!!!!!!!!!!

or some exercise equipment lardass.

[Sean Malone]

The missus just told me we've been getting that for years now. :confused:

She told me to stop listening to spicoli. :cry:

[Ankf00]

cool, I need a new kayak anyway, why not let the govt pay for it? I mean, it's not like I have a job or anything...

[Methanolandbrats]

That cash will be handy for all the folks who have to drive to the unemployment office over the next couple years.

[Spicoli]

:ski trip:

[Gnam]

:Champ Car telethon:

[JLMannin]

My take will be $2100. That will pay my property taxes or pay off a credit card, or something economically stimulating like that.

[opinionated ow]

$1800 check. :D

cheque dammit :p :p

[TrueBrit]

This is free money?

We don't have to pay it back?

Cool!!!

[cameraman]

I don;t know if this will actually help anything, but its going to be nice to gget that $1800 check. :D I thought you had more than two kids:confused:

[Stu]

alright lets try to find the logic here.

Problem #1: US Economy is tanking because of its massive debt, mainly debt from the government. We haven't had a budget surplus, or even a balanced budget in nearly a decade.

So the answer? Have government go into even further debt, by giving people tax rebates !!!!!!!!!

Problem #2: The US economy is starting to see higher amounts of inflation. The answer? Give everyone a thousand dollars, so businesses can raise prices, thus increasing inflation even more !!!!!!!!!!!!

Problem #3: We are in this problem because our politicians have sold us out. So that means, its time for a change. A change like McCain or Clinton. Putting McCain or Clinton in Washington will certainly fix things. They are exactly the fresh thinking politician that this country needs !!!!!!!!!!!!!!



Anyone who thinks this stimulus package will do any good needs to open their eyes. Just like the massive interest rate drop from the fed, these are just temporary bandages that are going to make things worse.

Rather than having one time tax rebates, we need to have a massive overhaul of the tax system. Make things simpler, lower taxes, and get out of the way of businesses so they can properly serve consumers.

We also need to have Washington stop spending so much freaking money. The optimistic viewpoint of our national debt is that its ONLY 9 TRILLION dollars. The realistic viewpoint is that its 56 trillion (the government doesnt include Social Security, Medicare, and Medicaid in that tiny little 9 trillion dollar number).

I hate to sound like a pessimist, but all signs point to an incredibly stupid leadership in Washington, on each side of the floor.

[TKGAngel]

This is free money?

We don't have to pay it back?

Cool!!!

Eventually we will.

This is going to work out to the government paying me back for my laptop. Sweet. :)

[Stu]

Workers who make at least $3,000 but don't pay taxes would get $300 rebates.

This is my favorite line.

How is that a rebate? If you dont pay anything, you cant receive a "rebate" for it. Thats a donation from the Feds.

[SteveH]

hookers and whiskey :thumbup:

[TrueBrit]

hookers and whiskey :thumbup:

Most sensible answer all afternoon...

[KLang]

Election year bribe, IMO.

[cameraman]

Election year bribe, IMO.

Bribing me to do what?

[KLang]

Bribing me to do what?

Vote. Just wait til you see how both sides attempt to spin it to their favor.

[eiregosod]

This is free money?

We don't have to pay it back?

Cool!!!

oh no, Prince Bandar will offer cheap trips on his party-lined Airbus.

[RichK]

My take will be $2100. That will pay my property taxes or pay off a credit card, or something economically stimulating like that.

If you are like me, you'll just more put more stuff on that credit card, thereby stimulating the economy....:laugh:

[cameraman]

That will pay my property taxes or pay off a credit card, or something economically stimulating like that.

It will pay off the roof:thumbup:

It is a stupid plan but I'll take $1500 tax free any time somebody wants to hand it to me.:shakehead

Although I am sure that the Utah State Legislature is hard at work figuring out a way to tax that $1500-

[dando]

Sober up, yo.

http://www.ft.com/cms/s/0/24f73610-c91e-11dc-9807-000077b07658.html

The US$ tanking is very troubling. The Looney passing the US$ was a very ominous sign. :(

-Kevin

[eiregosod]

Sober up, yo.

http://www.ft.com/cms/s/0/24f73610-c91e-11dc-9807-000077b07658.html

The US$ tanking is very troubling. The Looney passing the US$ was a very ominous sign. :(

-Kevin

That was george Soros, he has nooooo credibility whatsoever. :D

[cameraman]

The Looney passing the US$ was a very ominous sign.

The Canuckistanis are the largest supplier of $90/barrel oil to the USA.
They are not in debt up to their eyeballs.
Their government isn't run by twits.
The Loonie couldn't not go up.

[Dirk Diggler]

Now I can get the $50 porn, and not have rumage through the bargain racks!:thumbup:

[OW]

I wonder if the people above the income line that will NOT get this are enough to pay for it.

Robin Hood? I ask you a question...

[coolhand]

Sober up, yo.

http://www.ft.com/cms/s/0/24f73610-c91e-11dc-9807-000077b07658.html

The US$ tanking is very troubling. The Looney passing the US$ was a very ominous sign. :(

-Kevin

LoL ok

[nrc]

IBTL

[cameraman]

I wonder if the people above the income line that will NOT get this are enough to pay for it.

Ummm what income line?

[Sean Malone]

IBTL

:rofl:

[cameraman]

Stupid ****ing chicken **** rat bastards:flame:


The rebate calculation is a bit complex so one category of winners might be accountants. While the program referred to income caps of $75,000 for individuals and $150,000 for joint filers, Paulson added an asterisk. Those earning above the limits for the full rebate -- $600 for individuals and $1,200 for couples – could still receive a government check, reduced by 5% ($30 for individuals, $60 for couples) for each $1,000 of earnings above the stated limits. That means an individual earning as much as $94,000 or a couple earning as much as $169,000 could still get a check.

Although I suppose it depends on how they define "earns"

[dando]

Stupid ****ing chicken **** rat bastards:flame:



Although I suppose it depends on how they define "earns"

Yup. That's my question since I cashed in a chunk of expiring options last year. :(

-Kevin

[Ankf00]

Yup. That's my question since I cashed in a chunk of expiring options last year. :(

-Kevin

NO FREE 2G'S FOR YOU!

[dando]

The Canuckistanis are the largest supplier of $90/barrel oil to the USA.
They are not in debt up to their eyeballs.
Their government isn't run by twits.
The Loonie couldn't not go up.

I'm not getting into a political discussion (taboo) about this, but the reversal of fortunes of the US$ worldwide as well as Canada is troubling. Period. More $$$ from where there is none except debt is just a band aid. And like it or not, this 'fix' was bipartisan. :\

Yes, economics are cyclical, but the trends here are bad. :(

-Kevin

[cameraman]

NO FREE 2G'S FOR YOU!

He'll probably get a visit from the AMT fairy instead:rolleyes:

[rosawendel]

oh joy! i get my own money back and i get screwed out of my refund next year! woohoo!

[OW]

World
Rank - Name - Citizenship - Age - Net Worth ($bil) - Residence

1 - William Gates III - United States - 50 - 50.0 - United States
2 - Warren Buffett - United States - 75 - 42.0 - United States
6 - Paul Allen - United States - 53 - 22.0 - United States
12 - Michael Dell - United States - 41 - 17.1 - United States
15 - Lawrence Ellison - United States - 61 - 16.0 - United States
17 - Christy Walton - United States - 51 - 15.9 - United States
17 - Jim Walton - United States - 58 - 15.9 - United States
19 - S Robson Walton - United States - 62 - 15.8 - United States
21 - Helen Walton - United States - 86 - 15.6 - United States
24 - Steven Ballmer - United States - 50 - 13.6 - United States

I think that covers it...... ;)

BTW...who are the Walton family?

OW

[oddlycalm]

I'm not getting into a political discussion (taboo) about this, but the reversal of fortunes of the US$ worldwide as well as Canada is troubling. Period. More $$$ from where there is none except debt is just a band aid. And like it or not, this 'fix' was bipartisan. :\

Yes, economics are cyclical, but the trends here are bad. :(

-Kevin Yo, you're supposed to buy yourself an expensive new toy, drink a few beers and not pay any attention to all that troubling reality...:gomer:

oc

[eiregosod]

Waltons = Walmart family or maybe Its The Chinese

[Insomniac]

Stupid ****ing chicken **** rat bastards:flame:



Although I suppose it depends on how they define "earns"

It's supposed to be an "economic stimulus package", not a "here's some money to put in your bank account package". ;) Besides, it hasn't cleared the House yet, let alone the Senate. Let's see what happens after the lobbyists have their way as well.

[eiregosod]

World
Rank - Name - Citizenship - Age - Net Worth ($bil) - Residence

1 - William Gates III - United States - 50 - 50.0 - United States
2 - Warren Buffett - United States - 75 - 42.0 - United States
6 - Paul Allen - United States - 53 - 22.0 - United States
12 - Michael Dell - United States - 41 - 17.1 - United States
15 - Lawrence Ellison - United States - 61 - 16.0 - United States
17 - Christy Walton - United States - 51 - 15.9 - United States
17 - Jim Walton - United States - 58 - 15.9 - United States
19 - S Robson Walton - United States - 62 - 15.8 - United States
21 - Helen Walton - United States - 86 - 15.6 - United States
24 - Steven Ballmer - United States - 50 - 13.6 - United States

I think that covers it...... ;)

BTW...who are the Walton family?

OW


there's a few missing on that list. I thought that Mexican guy shot straight up there and the German version of Wally's world is up there.

[Ankf00]

Yo, you're supposed to buy yourself an expensive new toy, drink a few beers and not pay any attention to all that troubling reality...:gomer:

oc

i can do that. i can do the hell out of that.

[Insomniac]

World
Rank - Name - Citizenship - Age - Net Worth ($bil) - Residence

1 - William Gates III - United States - 50 - 50.0 - United States
2 - Warren Buffett - United States - 75 - 42.0 - United States
6 - Paul Allen - United States - 53 - 22.0 - United States
12 - Michael Dell - United States - 41 - 17.1 - United States
15 - Lawrence Ellison - United States - 61 - 16.0 - United States
17 - Christy Walton - United States - 51 - 15.9 - United States
17 - Jim Walton - United States - 58 - 15.9 - United States
19 - S Robson Walton - United States - 62 - 15.8 - United States
21 - Helen Walton - United States - 86 - 15.6 - United States
24 - Steven Ballmer - United States - 50 - 13.6 - United States

I think that covers it...... ;)

BTW...who are the Walton family?

OW

I bet Buffet is worth a lot more now. Berkshire was up 30% last year.

[RichK]

Looks like Helen Walton is the partier of the bunch; she's down 0.2 billion from her other family members. :cool:

[Insomniac]

I'm not getting into a political discussion (taboo) about this, but the reversal of fortunes of the US$ worldwide as well as Canada is troubling. Period. More $$$ from where there is none except debt is just a band aid. And like it or not, this 'fix' was bipartisan. :\

Yes, economics are cyclical, but the trends here are bad. :(

-Kevin

We're going to have to settle up at some point. All this stuff just delays it. Someone is going to have to eat all the real estate losses and we're all going to have to deal with a recession. It's a giant mess that will take time to fix and recover from. But, as Soros said, we're taking the world with us (if we can).

[extramundane]

alright lets try to find the logic here.

Problem #1: US Economy is tanking because of its massive debt, mainly debt from the government. We haven't had a budget surplus, or even a balanced budget in nearly a decade.

So the answer? Have government go into even further debt, by giving people tax rebates !!!!!!!!!

Problem #2: The US economy is starting to see higher amounts of inflation. The answer? Give everyone a thousand dollars, so businesses can raise prices, thus increasing inflation even more !!!!!!!!!!!!

Problem #3: We are in this problem because our politicians have sold us out. So that means, its time for a change. A change like McCain or Clinton. Putting McCain or Clinton in Washington will certainly fix things. They are exactly the fresh thinking politician that this country needs !!!!!!!!!!!!!!



Anyone who thinks this stimulus package will do any good needs to open their eyes. Just like the massive interest rate drop from the fed, these are just temporary bandages that are going to make things worse.

Rather than having one time tax rebates, we need to have a massive overhaul of the tax system. Make things simpler, lower taxes, and get out of the way of businesses so they can properly serve consumers.

We also need to have Washington stop spending so much freaking money. The optimistic viewpoint of our national debt is that its ONLY 9 TRILLION dollars. The realistic viewpoint is that its 56 trillion (the government doesnt include Social Security, Medicare, and Medicaid in that tiny little 9 trillion dollar number).

I hate to sound like a pessimist, but all signs point to an incredibly stupid leadership in Washington, on each side of the floor.

zskRVL47vq4

[OW]

there's a few missing on that list. I thought that Mexican guy shot straight up there and the German version of Wally's world is up there.


If you notice the ranks...I cut OUT all Non-US-Citizens (cause it is about a US thing)

No Problem

OW


(original - by todays count)
http://www.forbes.com/lists/2006/10/Rank_1.html

Carlos is #3

[OW]

Looks like Helen Walton is the partier of the bunch; she's down 0.2 billion from her other family members. :cool:

Bad investments? or maybe if shes the partier (patriarc) she has medical bill.

Getting old sucks.....

[TravelGal]

alright lets try to find the logic here.



stop right there. There isn't any. As you probably proved.......except that I stopped reading.

Spickly, you sure you're getting some? I mean rebate money? I automatically assume that nothing good in the tax department can apply to me.

[OW]

Careful Travel Gal its not a rebate - per-se'- cause some people who have paid NOTHING get something,,, and the guys at the TOP get nothing....
( I just wonder if all the SUPER rich can cover it)

True Robin Hood at work.....

Why do you think both parties agreed..
ummm... I guesss I am political here (sorry)....but I like it!
EVERYONE DOES...

And the rich dont feel it..

WHAT'S THE TOTAL PACKAGE COST ANYWAY? One DAY in IRAQ?

Come on.... my wife and I have to make more than 100 and 60..um 9 or something to NOT qualify?

Its a genious move.

And ONE more thing.......THIS IS CAPITALISM...not Communism...Communism..would be DIRECT cut back on FOOD

Over-

[Indy]

This is the worst thing they could do, so of course there is almost unanimous support for it in Congress.

I highly recommend investing in useful items, not dollar denominated pieces of paper.

[Stu]

its 1130, and way past my bedtime, so I may be mistaken but im just going to say that I hope OW is joking.

for what its worth, this rebate is about 1/3 the total cost of the Iraq War.

but hey whats the big deal, its only another 150 billion dollars in debt. not a big deal when your already so far in the whole. :rolleyes:

[Insomniac]

Careful Travel Gal its not a rebate - per-se'- cause some people who have paid NOTHING get something,,, and the guys at the TOP get nothing....
( I just wonder if all the SUPER rich can cover it)

True Robin Hood at work.....

Why do you think both parties agreed..
ummm... I guesss I am political here (sorry)....but I like it!
EVERYONE DOES...

And the rich dont feel it..

WHAT'S THE TOTAL PACKAGE COST ANYWAY? One DAY in IRAQ?

Come on.... my wife and I have to make more than 100 and 60..um 9 or something to NOT qualify?

Its a genious move.

And ONE more thing.......THIS IS CAPITALISM...not Communism...Communism..would be DIRECT cut back on FOOD

Over-

If you made $3000 and were employed, you personally paid $229.50 in taxes and your employer contributed $229.50. If you are self-employed, you contributed $459. You are talking about people who paid no INCOME taxes.

How would the people who don't get a rebate "cover it"? Taxes aren't being increased for anyone.

This isn't Robin Hood. It will simply contribute to the federal deficit in an attempt to curb/delay a recession.

Why did both parties agree? I hate to break it to you, but Republicans don't solely represent the top 1% of earners. There are a lot of Americans who can use this money, and that is the intent.

The entire $150B package equals 545 days of the Iraq War. Or the $100B part going directly to the people is 364 days.

[nrc]

Economics is fine, politics is not. Leave the Replublicrats and Demoplicans out of the discussion.

[emjaya]

World
Rank - Name - Citizenship - Age - Net Worth ($bil) - Residence

1 - William Gates III - United States - 50 - 50.0 - United States
2 - Warren Buffett - United States - 75 - 42.0 - United States
6 - Paul Allen - United States - 53 - 22.0 - United States
12 - Michael Dell - United States - 41 - 17.1 - United States
15 - Lawrence Ellison - United States - 61 - 16.0 - United States
17 - Christy Walton - United States - 51 - 15.9 - United States
17 - Jim Walton - United States - 58 - 15.9 - United States
19 - S Robson Walton - United States - 62 - 15.8 - United States
20 - Alice Walton - United States- 56 - 15.7 - United States
21 - Helen Walton - United States - 86 - 15.6 - United States
24 - Steven Ballmer - United States - 50 - 13.6 - United States

I think that covers it...... ;)

BTW...who are the Walton family?

OW

You missed one. ;)

Btw, all those Walton girls are available. :gomer:

[Methanolandbrats]

You should all relax, the government can just print more money if they run short :thumbup:

[Ziggy]

Stu

Your post on page one was excellent

:thumbup:

[Stu]

Economics is fine, politics is not. Leave the Replublicrats and Demoplicans out of the discussion.

well the benefit in this situation is that ALL of Washington is wrong. :D

[Spicoli]

Fridays are for spending.

on beer.

[tllips]

Ummm what income line?

If you have a household income over $175,000, you are not eligible for the rebate.

[Gnam]

Good news for Champ Car drivers? ;)

[Sean O'Gorman]

Wouldn't you have to make at least $3,000 to qualify in the first place?

[Stu]

If you have a household income over $175,000, you are not eligible for the rebate.

unless you have kids.

[Wheel-Nut]

alright lets try to find the logic here.

Problem #1: US Economy is tanking because of its massive debt, mainly debt from the government. We haven't had a budget surplus, or even a balanced budget in nearly a decade.

So the answer? Have government go into even further debt, by giving people tax rebates !!!!!!!!!

Problem #2: The US economy is starting to see higher amounts of inflation. The answer? Give everyone a thousand dollars, so businesses can raise prices, thus increasing inflation even more !!!!!!!!!!!!

Problem #3: We are in this problem because our politicians have sold us out. So that means, its time for a change. A change like McCain or Clinton. Putting McCain or Clinton in Washington will certainly fix things. They are exactly the fresh thinking politician that this country needs !!!!!!!!!!!!!!



Anyone who thinks this stimulus package will do any good needs to open their eyes. Just like the massive interest rate drop from the fed, these are just temporary bandages that are going to make things worse.

Rather than having one time tax rebates, we need to have a massive overhaul of the tax system. Make things simpler, lower taxes, and get out of the way of businesses so they can properly serve consumers.

We also need to have Washington stop spending so much freaking money. The optimistic viewpoint of our national debt is that its ONLY 9 TRILLION dollars. The realistic viewpoint is that its 56 trillion (the government doesnt include Social Security, Medicare, and Medicaid in that tiny little 9 trillion dollar number).

I hate to sound like a pessimist, but all signs point to an incredibly stupid leadership in Washington, on each side of the floor.


You're a ray of sunshine. The thread is not about the gov't doing right or wrong its about an extra $1800 in my pocket!!

[Ankf00]

How fast do chinese adoptions go through? I need me an extra three to nine hundred...

[rosawendel]

You're a ray of sunshine. The thread is not about the gov't doing right or wrong its about an extra $1800 in my pocket!!

the problem here is your use of the word "extra". you see, there isn't an "extra" involved. it's basically going to be an advance on your refund for tax year 2008.

The cost to the system is in processing and shipping the checks, and the interest that won't be gained by keeping it until you get your refund. The government's hopes to stimulate the economy rests largely on you not realizing that.

[Spicoli]

How fast do chinese adoptions go through? I need me an extra three to nine hundred...

:rofl:

[Insomniac]

the problem here is your use of the word "extra". you see, there isn't an "extra" involved. it's basically going to be an advance on your refund for tax year 2008.

The cost to the system is in processing and shipping the checks, and the interest that won't be gained by keeping it until you get your refund. The government's hopes to stimulate the economy rests largely on you not realizing that.

I'm not 100% sure, but I don't think that is the case. When they did this last time, some people got their checks pretty fast because they had met the threshold the year before. Others got it on their upcoming tax return. I don't recall ever having to make an adjustment though. The people who got it before didn't have to do anything and the people who didn't, got a $300 tax credit (it either reduced how much you owed for underpayment or increased your refund).

Bottom line is I believe you won't be paying this back later.

[oddlycalm]

Economics is fine, politics is not. Leave the Replublicrats and Demoplicans out of the discussion. Easy to do when both seem to be employing Tony George and a former Airbus CEO as economic policy consultants. :tony:

oc

[Gangrel]

Stupid ****ing chicken **** rat bastards:flame:



Although I suppose it depends on how they define "earns"

They're also saying (but not elaborating) that the limits will be higher for couples with children. Has anyone found any elaboration on that point?

[Wheel-Nut]

the problem here is your use of the word "extra". you see, there isn't an "extra" involved. it's basically going to be an advance on your refund for tax year 2008.

The cost to the system is in processing and shipping the checks, and the interest that won't be gained by keeping it until you get your refund. The government's hopes to stimulate the economy rests largely on you not realizing that.

We, my wife and I do not get tax refunds and all you people that do should amend your W4 so the gov't. doesn't spend your hard earned money during the year.

[cameraman]

My first round of calculations show us getting a $14 refund this year. I think I might try to get one of those refund advance loans so I can get my hands on that cash quicker:gomer:

[TravelGal]

Wouldn't you have to make at least $3,000 to qualify in the first place?

Nancy Pelosi agreed to drop required hikes in some social programs (food stamps, etc.) when the tax program was changed to give a minimum of $300 to anyone who gets a paycheck.

That's what I remember from reading after midnight so feel free to correct if I'm wrong.

[OW]

its 1130, and way past my bedtime, so I may be mistaken but im just going to say that I hope OW is joking.

for what its worth, this rebate is about 1/3 the total cost of the Iraq War.

but hey whats the big deal, its only another 150 billion dollars in debt. not a big deal when your already so far in the whole. :rolleyes:


Yes I was Joking....
But hmmm...I missed it by 2/3rds
Go (the dollar)....!!

Bye guys

[Walter Zoomie]

Waltons = Walmart family or maybe Its The Chinese

What's the difference?

[Insomniac]

The bill was signed yesterday.

Tax rebates: At least $300 to almost everyone earning a paycheck, including low-income earners. Social Security recipients and disabled veterans making too little to pay income taxes would receive $300 checks as well, as long as they have at least $3,000 in income from various sources in 2007. People paying income taxes could receive rebates of up to $600 per individual and $1,200 for couples.

Families with children would receive an additional $300 per child. The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children. Illegal immigrants are disqualified.

The total package is worth about $168 billion over two years, roughly 1 percent of U.S. economic output, and will add directly to the U.S. federal deficit.

[Spicoli]

Yes. How much money will be spent on Chiese imports, Japanese imports, Korean imports?

how much will be spent on paying off Credit Card debts, saving for houses, funding IRAs?

Yeah.:shakehead


I'll take the money, but this is a stupid stupid idea.

:election year:

[Stu]

someone on TV said it very clearly. the only jobs this economic stimulus will actually save are those in washington.

19% of people surveyed said they would actually spend the money. the rest said they would either save it or pay off debt. 2 things that are important, but not at the expense of further debt to the government.

CUT SPENDING TOO!!!

[Sean O'Gorman]

I'm going to use mine to plant a giant inflatable pink flamingo in your front yard to remind you to go back to Parma. Good for the economy?

[Wheel-Nut]

What's the difference?


Round eyes.

[KLang]

There are supposed to be some small business incentives in the 'rebate' package. I haven't found any details yet. Anyone seen anything?

[racermike]

I hope you all realized that we have to pay all this back to the Feds next year on our returns.

Nothing more than the corner paycheck-advance store near you, and the amount of interest total american citizens will have to pay back (based on interest) will be almost twice that what the corner paycheck advance store charges.

[cameraman]

There are supposed to be some small business incentives in the 'rebate' package. I haven't found any details yet. Anyone seen anything?


The key addition affecting small businesses is an expansion of "bonus depreciation," which allows investments in tangible property, computer software, or improvements to leased property to be more speedily depreciated, adding to a business' tax savings. Businesses of all sizes will be allowed to depreciate in this tax year 50% of the cost of an asset put into use in 2008.

Another provision that now becomes law will increase the level of so-called "Section 179" deductions that small businesses can expense instead of depreciate. Initially included in the House of Representatives' stimulus bill, this language allows businesses with up to $800,000 in annual revenue to deduct investments in any tangible business purchases (not including buildings, but including computer software) of up to $250,000, instead of depreciating them. These caps are increases from the $500,000 annual revenue maximum and $125,000 deduction limit under current law.

[RichK]

I hope you all realized that we have to pay all this back to the Feds next year on our returns.



Is that in writing somewhere?

[KLang]

Thanks cameraman. We might be able to use some of that. We don't qualify for the 'rebate'. :irked:

[cameraman]

I hope you all realized that we have to pay all this back to the Feds next year on our returns.

Nothing more than the corner paycheck-advance store near you, and the amount of interest total american citizens will have to pay back (based on interest) will be almost twice that what the corner paycheck advance store charges.No it won't.
It is not taxable income.
It has no effect on any refund you have coming, this year or next.

[G.]

No it won't.
It is not taxable income.
It has no effect on any refund you have coming, this year or next.
Our kids have to pay it back. And **** them brats, the ungrateful little ****s!

$2400 in Bling coming my way! w00t!


:)

[cameraman]

Well mine will end up spent on my kid so it is only right that he pay it back

[Ankf00]

on the brightside, i'll be spending it on locally/regionally designed and manufactured gear, so they'll have that going for them...

[dando]

Well mine will end up spent on my kid so it is only right that he pay it back

Sadly, our kids will be paying for this for a long, long time. :(

-Kevin

[Stu]

Sadly, our kids will be paying for this for a long, long time. :(

-Kevin

nah...this is nothing in comparison to the tens of TRILLIONS in Medicare/Medicaid/Social Security debt.

[Insomniac]

nah...this is nothing in comparison to the tens of TRILLIONS in Medicare/Medicaid/Social Security debt.

What are you talking about?

[Stu]

What are you talking about?

Per USAToday: http://www.usatoday.com/news/washington/2006-05-24-retiree-taxpayers_x.htm


Federal, state and local governments have added nearly $10 trillion to taxpayer liabilities in the past two years, bringing the total of government's unfunded obligations to an unprecedented $57.8 trillion.

That is the equivalent of a $510,678 credit card debt for every American household. Payments on this delinquent tax bill must start soon if financial promises to the elderly are to be kept.

This is money owed to the American People through government programs. These 3 programs are suffering for 2 reasons. 1 is underfunding for the anticipated size of the elderly population. 2 is that the feds will often borrow money from Medicare or SS and issue an "IOU" to pay it back. Of course since the Feds have no money, that "IOU" is pretty much worthless.

We simply spend too much money on these programs: http://www.msnbc.msn.com/id/10609044/


WASHINGTON - Three growing entitlement programs consumed nearly half of all federal spending in 2004, and budget analysts expect them to make up an even bigger share in the future.

Social Security, Medicare and Medicaid accounted for more than $1 trillion in the 2004 budget year, according to the Consolidated Federal Funds Report released Tuesday by the Census Bureau.

Overall federal spending was $2.2 trillion, an increase of 5 percent from 2003.

[Insomniac]

Per USAToday: http://www.usatoday.com/news/washington/2006-05-24-retiree-taxpayers_x.htm



This is money owed to the American People through government programs. These 3 programs are suffering for 2 reasons. 1 is underfunding for the anticipated size of the elderly population. 2 is that the feds will often borrow money from Medicare or SS and issue an "IOU" to pay it back. Of course since the Feds have no money, that "IOU" is pretty much worthless.

We simply spend too much money on these programs: http://www.msnbc.msn.com/id/10609044/

That isn't really true though. That $57T is the debt for time = infinity. It is not the current debt. That is why they say we need fo "fix" programs like social security and medicare before they become insolvent.

About $4T of the $9T national debt is owed to government accounts. The social security trust fund currently hold $2.2T of it. The medicare trust fund has about $300B of it. The bonds are far from worthless. They are backed by the "full faith and credit of the U.S. government". They won't be defaulted on anytime soon. However, the more they let the national debt grow, the weaker the dollar gets.

I agree we are spending too much, but it's hard to say that we're spending too much on those programs. It's tough to just yank them out from under people or reduce benefits that many expect to get. The programs were set up to give many a "free lunch" and we will be forever chasing that until someone gets the short end of the stick, or they somehow drastically increase the assets in the trust funds to cover the "free lunches".

[eiregosod]

Spitzer!

[RHR_Fan]

Have fun with your refund$$$$$$$$. I didn't make enough (I started my first paid job in late August and was about $600 short) so I won't be getting anything.

[cart7]

It's been a tough off season. First trying to figure out how to afford my

8 - 88 swag transition and now .....

CART/CCWS to Earl T-shirts and diecasts.

$$$ couldn't have come at a better time. :thumbup: :tony:

[dando]

No it won't.
It is not taxable income.
It has no effect on any refund you have coming, this year or next.

The local news did a piece on the rebates, and stated that they will need to be reported as income on '08 taxes. *shrug* Doesn't matter to me since I don't qualify for one. :\

-Kevin