Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
stimulus package
Old 01-24-2008, 09:05 AM   #1
Recycles dryer sheets
stargazer08's Avatar
 
Join Date: Mar 2006
Posts: 164
stimulus package

Is all the talk about the stimulus package for people with earned income in 2007 or 2008? I haven't seen any information that would answer this question. Maybe it's right in front of my face but I just can't see it.
__________________

__________________
stargazer08 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-24-2008, 09:24 AM   #2
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
2007
__________________

__________________
Retire Soon is offline   Reply With Quote
Old 01-24-2008, 11:58 AM   #3
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Tentative deal reached on tax rebates - Yahoo! News

Looks similar to the last checks when Bush came into office...but this time low wage earners that dont pay taxes get a rebate....
__________________
- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
Old 01-24-2008, 12:48 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
As expected, I ain't getting jack. Guess I won't be buying that walk-in humidor...
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 01-24-2008, 01:25 PM   #5
Recycles dryer sheets
 
Join Date: Nov 2007
Posts: 133
So... is this an effective means of stimulating the economy? I think we'll be getting a check, so as cheap as I am, I'm just going to put it in my account and save it. Obviously, eventually it'll be used, like to pay the mortgage, but there's nothing that I was planning to buy. In fact, DH has about $200 in gift certificates that expire this month, and he doesn't have anything to buy! We'll probably buy Target gift cards with them just so we don't lose them.
__________________
retiringby50 is offline   Reply With Quote
Old 01-24-2008, 01:43 PM   #6
Thinks s/he gets paid by the post
JPatrick's Avatar
 
Join Date: Jun 2005
Posts: 2,494
Still unclear whether ER's who pay taxes get a rebate.
At one point they note "earned income" and then anyone who pays taxes.:confused:
I think it is called "playing fast and loose with definitions."
__________________
JPatrick is offline   Reply With Quote
Old 01-24-2008, 02:10 PM   #7
Recycles dryer sheets
 
Join Date: Nov 2007
Posts: 133
Quote:
Originally Posted by JPatrick View Post
At one point they note "earned income" and then anyone who pays taxes.:confused:
Apparently it's wage earners, whether or not they have paid taxes (due to low wages).
__________________
retiringby50 is offline   Reply With Quote
Old 01-24-2008, 02:24 PM   #8
Dryer sheet aficionado
 
Join Date: Dec 2005
Posts: 28
Is that limit of 75K single or 150K jointly gross or after tax? I have a feeling I am not getting jack either while paying TAX this year again!!!
__________________
DallasFH is offline   Reply With Quote
Old 01-24-2008, 02:49 PM   #9
Full time employment: Posting here.
mountaintosea's Avatar
 
Join Date: Aug 2006
Posts: 553
I won't be collecting either. 2007 turned out to be much bigger than normal due to cash outs associated with retiring.
__________________
mountaintosea is offline   Reply With Quote
Old 01-24-2008, 03:03 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,201
Hey, non wage earners can spend money, too.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 01-24-2008, 03:34 PM   #11
Full time employment: Posting here.
UncleHoney's Avatar
 
Join Date: Aug 2006
Location: Columbus
Posts: 769
I think the gummint would be better off forgetting the checks and just deliver each of us a big screen TEE VEE. They'd get a better price with volume buying and save us all the shopping time and gas money.
__________________
UncleHoney is offline   Reply With Quote
Old 01-24-2008, 04:18 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,951
Quote:
Originally Posted by UncleHoney View Post
I think the gummint would be better off forgetting the checks and just deliver each of us a big screen TEE VEE. They'd get a better price with volume buying and save us all the shopping time and gas money.
Yep...plus all those commercials can be filled with subliminal messages (buy, buy, spend,spend,spend)

I am excited about the conforming mortgage limit increase.
__________________
jazz4cash is online now   Reply With Quote
Old 01-24-2008, 04:28 PM   #13
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Compare the wording of the 2001 "Tax Rebates", maybe there can be some hint found there about "earned" income. Or maybe wait a couple of days longer and some "smart" journalist will actually ask the specific question. Of course the Senate has yet to mark up their plan and meld the two plans, then the conference must be accomplished and agreed to and sent to the President. No wonder it will take until June or so before the money comes in the mail - and if like 2001, staggered by the last two digits of your social security number.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 01-24-2008, 04:34 PM   #14
Recycles dryer sheets
barbarus's Avatar
 
Join Date: Aug 2007
Posts: 433
How many citizens have already spent the ephemeral stimulus money already?

The idea was crafted by amoral gvmnt psychologists to take advantage of the hyperconsumerists that populate our society.

No real need to actually deliver many of the checks. The jawboning will be sufficient to "cry havoc and release the dogs of buy".

Plasma TV - SUV - exotic vacations....here I come. YEE HA!!
__________________
barbarus is offline   Reply With Quote
Old 01-24-2008, 06:13 PM   #15
Full time employment: Posting here.
Delawaredave5's Avatar
 
Join Date: Dec 2004
Posts: 606
Only in America, the land of excess consumption and negative savings, can the answer to our economy be "print more money and give it to the people to buy more stuff".

Maybe the long term real answer to getting this country back to creating wealth with a healthy trade balance and currency might be:
- Less consumption
- Manufacturing
- Saving something

But maybe I'm "old fashioned".............
__________________
Delawaredave5 is offline   Reply With Quote
Old 01-24-2008, 06:46 PM   #16
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by JPatrick View Post
Still unclear whether ER's who pay taxes get a rebate.
At one point they note "earned income" and then anyone who pays taxes.:confused:
I think it is called "playing fast and loose with definitions."

Where did you see "earned income" mentioned? I've seen "Individuals who pay taxes", and workers who make at least $3,000 and pay no taxes" mentioned but have yet to see earned income mentioned.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 01-24-2008, 06:47 PM   #17
Recycles dryer sheets
 
Join Date: Mar 2006
Posts: 206
To make this work the government must make us buy American.

How about a coupon for a free McDonalds?
Wait, won't work. Beef is from Argentena

How about a free big screen TV?
Wait, won't work. From China

How about a new car?
Wait, won't work. Assembled in Mexico (or made in Japan)

I've got it. Give everyone in America a 787 Dreamliner. Made in America and it will only take a couple of years to get one.

Horay! I've solved another one.
__________________
I'm trying to find myself.* Have you seen me anywhere today?
Mysto is offline   Reply With Quote
Old 01-24-2008, 07:00 PM   #18
Thinks s/he gets paid by the post
JPatrick's Avatar
 
Join Date: Jun 2005
Posts: 2,494
Quote:
Originally Posted by Bikerdude View Post
Where did you see "earned income" mentioned? I've seen "Individuals who pay taxes", and workers who make at least $3,000 and pay no taxes" mentioned but have yet to see earned income mentioned.
I haven't found the article mentioning "earned income" yet, but here is the first mention of using adjusted gross income to determine limits. (from FOX)
<<The rebates would phase out gradually for individuals whose adjusted gross income exceeds $75,000 and for couples with incomes above $150,000. Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit.>>
__________________
JPatrick is offline   Reply With Quote
Old 01-24-2008, 07:53 PM   #19
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
I think the 75K for singles and 150K for couples limits are AGI according to what I read on MSN or Money.

Quote:
Originally Posted by Delawaredave5 View Post
Maybe the long term real answer to getting this country back to creating wealth with a healthy trade balance and currency might be:
- Less consumption
- Manufacturing
- Saving something
What's the fun in that? Let's keep the party going and let the kids pay the tab! woohoo! Yeah!!!!!
We haven't spent the rebate yet, but we'll probably use the check to buy a new mattress (made in America). We were thinking about saving the money at first, and then we thought, what the heck, might as well splurge a little with that "free" money...
__________________
FIREd is online now   Reply With Quote
Old 01-24-2008, 08:32 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Apr 2007
Posts: 1,304
Geez, talk about bad timing... I won't get anything either and being 'unemployed' now, I coulda used it.
On top of 1/2 year salary and bonuses, I liquidated my megacorpy shares so that I could start moving 401K to IRA to Roth
__________________

__________________
Life is GREAT!
megacorp-firee is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Will An Economic Stimulus Package Work? Retire Soon FIRE and Money 116 01-27-2008 07:07 AM
Special Package arrived today brewer12345 Young Dreamers 60 07-03-2006 08:04 PM
Best place to find cheap vacation package? thefed Other topics 8 05-10-2006 10:31 PM
Our FIRE Pastime Has Arrived .... in A Package Under FIRE Life after FIRE 6 10-12-2005 04:13 PM

 

 
All times are GMT -6. The time now is 07:37 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.