Am i eligible to recieve the $800 ?

[kranky]

Originally posted by: Linflas

Originally posted by: moshquerade

Originally posted by: Slick5150
I love how people are duped by this idea of "FREE $800!!" You have to pay it back next year.. Its a PR stunt more than it is an "economic stimulus"

how can you not call it an economic stimulus when you know everyone will go out and buy something with it? sorry, you're wrong. it may be a temporary boost, but it will bring on more sales.

But it is not free, it is money the government has already confiscated from you. I suspect the people that look at it as "free" money are the same ones that like to be over withheld so they get a "tax refund" at the end of the year.

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

 

[Engineer]

Originally posted by: kranky

Originally posted by: Linflas

Originally posted by: moshquerade

Originally posted by: Slick5150
I love how people are duped by this idea of "FREE $800!!" You have to pay it back next year.. Its a PR stunt more than it is an "economic stimulus"

how can you not call it an economic stimulus when you know everyone will go out and buy something with it? sorry, you're wrong. it may be a temporary boost, but it will bring on more sales.

But it is not free, it is money the government has already confiscated from you. I suspect the people that look at it as "free" money are the same ones that like to be over withheld so they get a "tax refund" at the end of the year.

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

 

[moshquerade]

Originally posted by: Linflas

Originally posted by: moshquerade

Originally posted by: Slick5150
I love how people are duped by this idea of "FREE $800!!" You have to pay it back next year.. Its a PR stunt more than it is an "economic stimulus"

how can you not call it an economic stimulus when you know everyone will go out and buy something with it? sorry, you're wrong. it may be a temporary boost, but it will bring on more sales.

But it is not free, it is money the government has already confiscated from you. I suspect the people that look at it as "free" money are the same ones that like to be over withheld so they get a "tax refund" at the end of the year.

where did i say it was free?
i am only saying that people will spend it and thereby it will stimulate the ecomony.

 

[altonb1]

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

 

[kranky]

Originally posted by: altonb1
I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

I don't have a problem with that because you are making an informed decision to over-withhold, based on what is right for you. That's different from people who think a bigger refund indicates being "smarter" about taxes, or that a bigger refund means you paid less taxes than someone else.

 

[alkemyst]

Originally posted by: compguy786

Hey Guys,
I saw in the news about what we shall get back from the government, so i pay taxes, im 18, work, and pay taxes through work, i.e income tax, medicare etc etc. I do live with my parents BUT does that mean i wont get tax rebate ? since my dad cant get tax credit off me anymore, so does that mean i am eligible for the $800 ?

Just being 18 doesn't make you not a dependent.

 

[new2AMD]

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

 

[Special K]

Originally posted by: new2AMD

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

Some people are disciplined enough to not spend money as soon as they make it

 

[alkemyst]

Originally posted by: Special K

Originally posted by: new2AMD

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

Some people are disciplined enough to not spend money as soon as they make it

QFT! bonus points for mentioning Britney as something that brings credibility in this.

 

[new2AMD]

Originally posted by: Special K

Originally posted by: new2AMD

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

Some people are disciplined enough to not spend money as soon as they make it

what does that mean? I balnce my budget based on my paycheck and my bills. So I need to figure out my tax withholding to make an extra $40 /month? $10/week?

 

[compguy786]

Originally posted by: Engineer
Hey OP, I've heard that if you run out and get married quickly, you can get $1,600 too!

hahaahaha....thats funny.

Yeah the money is not free, obviously its money you gave to them, they are just giving it back to you temporarily, and then it goes straight back to them. What would really boost the economy would be a whole week of tax-free shopping, that would be outrageous.

 

[hanoverphist]

Originally posted by: edro

Originally posted by: ConstipatedVigilante
I'm in a similar boat. I'm 18, I worked over the summer (But not enough to get federal income tax taken). So does the money from my paycheck that went to Medicare/SS count? I am also listed as a dependent on my dad's income.

If you work one hour a year, you get income tax taken out.
Your tax bracket might be lower, resulting in a larger return, but you always have to pay taxes on income.

As long as you are not deducted as a dependent on your parents' return, you would be eligible for the $800.

far as i remember from back in my early concert working years, if you make less than 100 in a pay period you dont have any fed or state taken out. i had many checks where i only worked a few hours a week and got all of my cash minus the SS tax. you always pay the SS tax. a couple years (when i was trying to excel at being a bum) i made less than 3500 a year and had to prove i didnt support myself lol. but i didnt have any fed tax taken out at all. i also didnt have a tax burden that year.

 

[hanoverphist]

Originally posted by: Special K

Originally posted by: new2AMD

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

Some people are disciplined enough to not spend money as soon as they make it

its not that i cant save it, its that ill usually put it to use elsewhere, like paying off bills/ cc card quicker. i have a maintained savings account, and i get a refund every year. that, coupled with my yearly bonus, makes a nice little chunk that i use to get something that i otherwise wouldnt allow myself to budget by saving throughout the year. for some reason i feel guilty spending money on myself when i could use it for kids stuff. hence, when i save i save for them. not for my own use. the refund ill use for fun for the whole family, so its win-win.

 

[Jeff7]

Originally posted by: FoBoT

Originally posted by: jupiter57
Link to details of said $800 "rebate"
First I've heard of it!

that is the point, there are no details because the legislation hasn't even been drafted yet
there are just media sound bites of Pres. Bush and others of what they are suggesting

the legislation won't be written/voted on for a few more weeks or longer

But it's at least been mentioned somewhere, otherwise no one would be talking about it. Where has this been mentioned?


Something sounds familiar about this, something like in Futurama. Very familiar.
Sure people will spend the money, but where's it coming from? Either it's MORE national debt, or else, ultimately, it's from taxpayer money - the taxpayers are paying themselves money.

 

[Engineer]

To those that thought that I was slamming you on your taxes, think again. You can do as you please. I prefer adding an automatic payment to my bank account instead of paying Uncle George. By setting up the automatic payment, it's like a bill. Nothing to think about, just like your tax witholdings.

 

[child of wonder]

OP - You mean do you qualify for the $800 check from the government that will be borrowed from China? Then the American public will use that money to go to Wal-Mart, Costco, Target, etc. and purchase goods made in China and then we'll all pay back the loan plus interest and fees when social security is cut and our children are taxed higher.

What a stimulus package!!!!

Short term bandaids FTL.

 

[waggy]

Originally posted by: alkemyst

Originally posted by: compguy786

Hey Guys,
I saw in the news about what we shall get back from the government, so i pay taxes, im 18, work, and pay taxes through work, i.e income tax, medicare etc etc. I do live with my parents BUT does that mean i wont get tax rebate ? since my dad cant get tax credit off me anymore, so does that mean i am eligible for the $800 ?

Just being 18 doesn't make you not a dependent.

nope. if he is going to school its 25 i beleive.

 

[FoBoT]

Originally posted by: Jeff7
the taxpayers are paying themselves money.

yes, it is more like welfare, like EIC , except for everyone (er, more peoples, up to whatever limit they decide on)

bread and circuses

http://en.wikipedia.org/wiki/Bread_and_circuses

 

[thepd7]

Originally posted by: new2AMD

Originally posted by: Special K

Originally posted by: new2AMD

Originally posted by: altonb1

Originally posted by: Engineer

Originally posted by: kranky

Heck, I work with people who think that a bigger refund = win.

Co-worker A: "I got $1300 back on my taxes!"
Co-worker B: "Oh man, you're lucky. I only got $800."
Co-worker A: "How did you do, kranky?"
I only got $37.
Co-worker B: "Dude, for someone who knows a lot about money, you don't seem to know much about taxes! Better get some professional advice!"

:laugh:

So true!!!

I'm one of those people who get a large tax refund, but I don't mind letting the government hold the money. Many people advise that I should not give the gov't a tax-free loan when I could invest the money instead. But you know what? I wouldn't invest it - I would spend it. By getting a large refund every year, I can use it as a vacation fund, pay off a credit card or two, etc. The extra $50/week doesn't go THAT far, but a lump sum check allows me to afford our annual vacation.

couldnt agree more. Those that say you are dumb to give the govt a tax free loan are the ones who say they wouldnt hit Britney 5 years ago.

Some people are disciplined enough to not spend money as soon as they make it

what does that mean? I balnce my budget based on my paycheck and my bills. So I need to figure out my tax withholding to make an extra $40 /month? $10/week?

Yes, because you could invest the $480 and make money on it.

That being said, I will probably intentionally overestimate my withholdings a slight amount, I completely recognize i should save more but don't have the discipline so a forced savings plan like an interest free loan to Uncle sam is just fine for me.

 

[Wreckem]

Under Bush's plan you have to have paid atleast $800 in taxes for the year 2007.

Under Obamas plan every working adult would get $250-500. Every one one social security would get up to $500.

 

[alkemyst]

Originally posted by: waggy

Originally posted by: alkemyst

Originally posted by: compguy786

Hey Guys,
I saw in the news about what we shall get back from the government, so i pay taxes, im 18, work, and pay taxes through work, i.e income tax, medicare etc etc. I do live with my parents BUT does that mean i wont get tax rebate ? since my dad cant get tax credit off me anymore, so does that mean i am eligible for the $800 ?

Just being 18 doesn't make you not a dependent.

nope. if he is going to school its 25 i beleive.

That's if you are not living at home...you are a dependent if you are a child until they stop supporting you. Covers mostly those who medically cannot do this otherwise.

 

[alkemyst]

Originally posted by: new2AMD
Some people are disciplined enough to not spend money as soon as they make it

what does that mean? I balnce my budget based on my paycheck and my bills. So I need to figure out my tax withholding to make an extra $40 /month? $10/week?
[/quote]

Someone that understands finances would not have made that statement. I don't think you really know where your money is going.

 

[FoBoT]

Originally posted by: Wreckem
Under Bush's plan you have to have paid atleast $800 in taxes for the year 2007.

that would exclude all the poor people/people on welfare
the Democrats in Congress will never go for that, their voters will be pissed they didn't get a voting check

 

[bctbct]

Half this money will pay down debt which will help <drum roll> big business.

If they want a true stimulus to the economy, gift cards that can only be used on items made in the USA.

 

[PurdueRy]

Originally posted by: FoBoT

Originally posted by: Wreckem
Under Bush's plan you have to have paid atleast $800 in taxes for the year 2007.

that would exclude all the poor people/people on welfare
the Democrats in Congress will never go for that, their voters will be pissed they didn't get a voting check

Don't contribute to the system, don't get anything back?