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MELY | What is this tax rebate or what ever it is that I've been hearing about? |
I've heard something about $600 for single and $1200 for married couples. What is this all about, and is this in addition to what we might be getting back? Also when did it pass and when will come in place? Thanks before hand for the answers |
 |
 
kelsey
|
yep, it's pretty much what you wrote. also, you get $300 per kid. it is suposed to come out in june. |
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Judy1
|
It didn't pass - it's still being discussed. No matter what the rules now that they are talking about, it's very likely to change. So watch the news eg yahoo news to try to keep up with it. |
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capixaba
 |
It will be available as soon as the IRS can update its computer files and forms (May or June(?)). If you are a US citizen or permanent resident, you will receive $600 for one individual, $1200 for a husband and wife on a joint return, and $300 for each dependent child. The kicker is that you must have made least $3,000 earned income or you must be paying income taxes based on other sources (earnings, interest, investments or private pension plans).
Also it will be phased out for individuals making over $75,000 or married couples filing joint returns and making over $150,000.
The purpose is to put more cash into the hands of consumers. The reasoning goes that people, upon receiving it, will spend it and thereby place more demand for consumer goods. Jobs will be created to meet that demand.
If is a foolish political ploy. If we had not allowed our over-sized corporations to send our manufacturing base abroad, then the demand would cause manufacturers in this country to produce more. More production would create more jobs in the form not only of factory workers, but also of people who work for factory suppliers. Unfortunately, in this country, most of the benefit will go to retailers. Most of it will go to the manufacturers, which are in places like Communist China.
Think of it as having the impact of a Christmas rush.
The $150 billion or so could be much better used to launch a NASA-style project to develop alternative-energy research and technologies. Such spending would be an investment in our future by reducing our dependence on foreign oil; it would create not just a few retail jobs but long-lasting, well-paying jobs in research and development, engineering, automation, and manufacturing (for starters).
Want to guess why we are not opting for the alternative-energy route? Think clout, not good sense.
Also count the thumbs down. Every one of them (I'd bet), is an angry pseudo-conservative, also neocon (actually corporativist), each reacting emotionally, all in lock step, bypassing reason. |
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Gligger
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everyones getting free money to boost the economy and bring us out of recession, also you get 300 per kid :) |
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bostonianinmo
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No way to say until it's passed into law. It's still mired down in debate in the Senate and could be there for days or weeks. Until it's passed into law any answer you get will be PURE guesswork. |
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jimstock60
|
Voted on last week, you should receive it in June and it is in addition to what you should already be getting back. YOu also get $300 for each kid
I love that the person above me says its Republican Smoke and Mirrors when the Democrats helped rewrite it and vote it into being....Pelosi had a lot of influence in getting EVERYONE money back, the original Bush plan was only for certain levels of wage earners, the Democrats made sure that everyone received something back..oh and it tapers off at people who make $75,000 and those who make $150,000, they get less. So Everyone had a hand in it and hopefully it will spur the economy. Oh, and I'm a Democrat....vote for Obama. |
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KERI M
 |
Ok let me explain this. Most people are in the dark and assume they will get the full amount of 1200 if married and 600 if single. Wrong!!!! If you make over $3000 and had taxes taken out of your pay throughout the year this this does not mean you will get the full amount. When filing your 2007 tax return if you get back all or more than you paid throughout the year then technically you don't pay taxes and qualifies you to the lower amount of 300 per single and 600 per couple. Plus 300 per child. If you get back less than you paid in then you are a taxpayer and entitles you to the full amount. |
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ce
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Republican smoke and mirrors.
I don't know how we could possibly have a tax rebate with a 6.5 TRILLION dollar deficit and a war going on.
$6,500,000,000,000
That's over $30,000 per PERSON. |
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GG
 |
its supposedly something that the president is doing to improve the economy because a lot of people arent spending like they were due to gas/energy/etc and our economy is lacking. so this money is supposedly for us not to pay billsbut to go shopping |
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