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01-24-2008, 08:05 AM
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#1
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Recycles dryer sheets
Join Date: Mar 2006
Posts: 194
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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.
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01-24-2008, 08:24 AM
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#2
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Full time employment: Posting here.
Join Date: Nov 2005
Posts: 655
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2007
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01-24-2008, 10:58 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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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!
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01-24-2008, 11:48 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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As expected, I ain't getting jack. Guess I won't be buying that walk-in humidor...
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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01-24-2008, 12:25 PM
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#5
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 170
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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.
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01-24-2008, 12:43 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,610
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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."
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01-24-2008, 01:10 PM
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#7
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 170
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Quote:
Originally Posted by JPatrick
At one point they note "earned income" and then anyone who pays taxes.:confused:
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Apparently it's wage earners, whether or not they have paid taxes (due to low wages).
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01-24-2008, 01:24 PM
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#8
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Dryer sheet aficionado
Join Date: Dec 2005
Posts: 28
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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!!!
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01-24-2008, 01:49 PM
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#9
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Full time employment: Posting here.
Join Date: Aug 2006
Posts: 564
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I won't be collecting either. 2007 turned out to be much bigger than normal due to cash outs associated with retiring.
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01-24-2008, 02:03 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Posts: 12,880
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Hey, non wage earners can spend money, too.
__________________
Al
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01-24-2008, 02:34 PM
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#11
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Full time employment: Posting here.
Join Date: Aug 2006
Location: Columbus
Posts: 769
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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.
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01-24-2008, 03:18 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,309
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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.
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01-24-2008, 03:28 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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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
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01-24-2008, 03:34 PM
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#14
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Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
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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!!
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01-24-2008, 05:13 PM
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#15
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Full time employment: Posting here.
Join Date: Dec 2004
Posts: 699
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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".............
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01-24-2008, 05:46 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
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Quote:
Originally Posted by JPatrick
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."
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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
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01-24-2008, 05:47 PM
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#17
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Recycles dryer sheets
Join Date: Mar 2006
Posts: 206
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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.
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I'm trying to find myself.* Have you seen me anywhere today?
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01-24-2008, 06:00 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,610
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Quote:
Originally Posted by Bikerdude
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.
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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.>>
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01-24-2008, 06:53 PM
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#19
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Moderator Emeritus
Join Date: May 2007
Posts: 12,894
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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
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
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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...
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01-24-2008, 07:32 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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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
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