So I heard of the new tax rebate something like 600 per tax payer. Where is this money comming from? I also hear of how it may affect us for 2009 and how we will be taxed for this rebate. I understand how it will generate through our economy making it more active however, we are so in debt now that I just don't see how this is what should be on the front burner. I do not think at this point that I will be secure in my elder years because I think the SSI pot will be so drained by that time. What do you all feel about this topic? Take Care.
I am not very sure how sensitively things are being handled. The recent crash of the stock market, the credit crunch, losses etc, I dont see a reason for the rebate right now. I expect more information on this.
Thank You for your feedback miss laura
Yeah, while it sounds great on the immediate gratification frontlines, there could potentially be some factors that we're not completely considering, i talk as a country not us. i heard people at work say how they would spend the money, i'm still thinking in the back of my mind, i'll believe all this when there's a check in the mail! i know there are many skeptics out there, will this really help our economy? maybe it would immediately but what about the long run? especially if coffee is right and we're taxed later on. i know the media will have a field day with this as soon as the AP has more information :) :) :) happy saturday everyone!
The media is having a field day with it already, local news people are out on the streets asking people how they will spend it. A lot of people are saying that they will pay bills and buy gas, that is about all they can afford to do with the price of gas the way it is. We need a break there, that would help immensly. I am happy that I have a car that is excellent on gas, but it still don't drive on nothing. Hopefully they get it passed soon.
Since I haven't taken a course in Econ yet (not even a survey course), I cannot make an educated guess to the real reasoning. I can point out two things, and draw my own conclusion--however accurate or inaccurate it may be:
A) The constant stream of mortgage defaults has left a number of banks strapped for cash.
B) This is an election year.
My conclusion is that the rebate (prebate, anyone?) is a measure designed to help prop up banks; indirectly and without the connotations of corporate wealthfare. If I recall correctly, Countrywide experienced a run on its deposits several months ago.
Our media is going wacky with it too, running around stopping people and asking them what they will do with it, like most people can afford to do anything with it besides pay a bill right? The price of gas and other items that you need to survive is going through the roof.
Like your terminology morningstar, Prebate, not like it is free huh? We will be taxed on it later. LOL
Several people have told me that the last time this was tried (2001, before the attacks), the money received came out of the refund amount we were paid in Spring of 2002.
I think we will have to file it on our taxes next year as income, seems nothing is for free, so it is just an early refund and if you are in the right situation you may have to pay on it, if you think about it, if it puts you over the bracket and you don't usually get anything back, this is actually taxable income, so you may end up paying on it.
I also hope they get it passed soon so that they keep what is there, there! Seems like the more they ponder on it the more we lose. So, chop, chop, let's get it done. :)
rebate
Hey folks the first thing you all got to remember is they give you nothing free. this will be a political focus to send g bush out with pat on the back.a little late i think, but as to the rebate they keep changeing the rules as to who gets it. they also gave more for fuel but ive heard older people say they were told they cant get it until the other grants are all used up. I also we had to borrow money from china already.{that was told me by an old lady,i dont know where she got her imfo, she also says we better put hillary in to straighten up the country. lol] I think when she told me hillary has to win she lost my confidence, thats the last person we need in there at this time. by the way they lowered the amount now so they can give it to more people. why dont they just give everyone back what they paid in this year and if you didnt pay in to bad. my money would help my pockets more than thiers anyway. now they say they have to raise the gas again to change something for the summer can you believe how dumb they must think the american people are.
I don't really care, just give me the money!!!!!!!!!!!!!!!!!!!!!!!! they are going to do what they are going to do. At least we are getting something back on it.