isleseeya Posted January 24, 2008 Share Posted January 24, 2008 looks like No soup for me Quote Link to comment Share on other sites More sharing options...
Seattle LawDawg Posted January 25, 2008 Share Posted January 25, 2008 looks like No soup for me Me neither: "The rebate plan would phase out for higher income people -- individuals making more than $75,000 in adjusted gross income and married couples making more than $150,000. Paulson said that for every $1,000 over those income levels, the rebates would be reduced by 5 percent." Link Quote Link to comment Share on other sites More sharing options...
Skippy Posted January 25, 2008 Share Posted January 25, 2008 For once the fact that my wife does not earn any real money will have paid off. Well, sort of I guess. Quote Link to comment Share on other sites More sharing options...
Puddy Posted January 25, 2008 Share Posted January 25, 2008 So $1,200 for a 'working' couple. Since my wife is a full-time student I'm guessing we won't get the extra $600. Oh and Twiley, Isleseeya and SLD are well paid. Wonder if I still qualify under the 150k since I'm married or do I fall under the 75k for an individual rule? Quote Link to comment Share on other sites More sharing options...
Skippy Posted January 25, 2008 Share Posted January 25, 2008 Wonder if I still qualify under the 150k since I'm married or do I fall under the 75k for an individual rule? The way I read it, if married filling jointly you would qualify under the 150K. I hope that is the way it is. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted January 25, 2008 Share Posted January 25, 2008 The way I read it, if married filling jointly you would qualify under the 150K. I hope that is the way it is. This is correct...if you make $149K, and your wife makes zero, you would qualify for the $1200. + $300 per kid. Boy, am I glad I have FOUR kids...who'd laughing now???? Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted January 25, 2008 Share Posted January 25, 2008 I doubt the "rebate" checks will ever be included in taxable income. This is correct. It essentially will be be booked as a rebate of overpaid taxes. As in 2002 (the last time the gub issued checks using a simialr program), these rebates will not be subject to local, state or federal taxation. On another matter, after years of blasting the public for not planning for retirement and saving enough, I have not seen one quote from anyone in our fine government advising to stash the funds in your IRA. Rather, they are hoping you'll blow the money on conusmer goods to stimulate the economy. Go figure. Quote Link to comment Share on other sites More sharing options...
yo mama Posted January 25, 2008 Share Posted January 25, 2008 As in 2002 (the last time the gub issued checks using a simialr program), these rebates will not be subject to local, state or federal taxation. I hope you're right. I'd just like to hear that from the rebate's architects. Quote Link to comment Share on other sites More sharing options...
muck Posted January 25, 2008 Share Posted January 25, 2008 Do "the highly compensated" get any $$s if they have kids? Meaning, Mr. & Mrs. Smith combine to make $149,000 and have three kids ... they would get $600 + $600 + $300 + $300 + $300 = $2,100 But, Mr. & Mrs. Jones combined to make $171,000 and have three kids and they get bupkiss. Or, have I misread? Quote Link to comment Share on other sites More sharing options...
Sugar Magnolia Posted January 25, 2008 Share Posted January 25, 2008 Husband and I only made $29,000 in "working" income this year, but our AGI is over $150,000. I wonder if we qualify?-probably not. Quote Link to comment Share on other sites More sharing options...
yo mama Posted January 25, 2008 Share Posted January 25, 2008 Do "the highly compensated" get any $$s if they have kids? Meaning, Mr. & Mrs. Smith combine to make $149,000 and have three kids ... they would get $600 + $600 + $300 + $300 + $300 = $2,100 But, Mr. & Mrs. Jones combined to make $171,000 and have three kids and they get bupkiss. Or, have I misread? Dunno yet. The last time I read on that point (a Yahoo article) it said they were considering high caps for those with children, but gave no indication of what that meant. Quote Link to comment Share on other sites More sharing options...
twiley Posted January 25, 2008 Share Posted January 25, 2008 (edited) Me neither: "The rebate plan would phase out for higher income people -- individuals making more than $75,000 in adjusted gross income and married couples making more than $150,000. Paulson said that for every $1,000 over those income levels, the rebates would be reduced by 5 percent." Link Crappers. Maybe I'll still get $300 for my little minion? If that's the case I'll just stuff it into his 529. Edited January 25, 2008 by twiley Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted January 25, 2008 Share Posted January 25, 2008 Do "the highly compensated" get any $$s if they have kids? Meaning, Mr. & Mrs. Smith combine to make $149,000 and have three kids ... they would get $600 + $600 + $300 + $300 + $300 = $2,100 But, Mr. & Mrs. Jones combined to make $171,000 and have three kids and they get bupkiss. Or, have I misread? well, i don't know for sure, but i would hope it goes off of taxable income, as opposed to gross. a couple making 170K with 6 kids is going to have considerably less taxable income than a couple making 170K with no kids. so if nothing else it gets factored in that way. Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted January 25, 2008 Share Posted January 25, 2008 all this means is more pizza and popcorn sales for the schools Quote Link to comment Share on other sites More sharing options...
The Irish Doggy Posted January 25, 2008 Share Posted January 25, 2008 I think I'll get a puppy. Seriously. Quote Link to comment Share on other sites More sharing options...
TimC Posted January 25, 2008 Share Posted January 25, 2008 I may buy a kid for $299.00 and make a quick buck. Muck has nothing on my money-making ways. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted January 25, 2008 Share Posted January 25, 2008 $300 for each tax payer I wonder how this will affect the markets when they originally hinted at $800. What would you do with $300? What would you have done with $800? For me $300 into the bank. $800 new flat panel TV combining the wife and I to total $1600 ETA: When I posted this CNN was reporting $300 now they are saying $600. Sorry for the confusion. My eyes read 600 per tax payer or 1200 for married couples. Quote Link to comment Share on other sites More sharing options...
Furd Posted January 25, 2008 Share Posted January 25, 2008 Some of us ain't getting a dime. Quote Link to comment Share on other sites More sharing options...
twiley Posted January 25, 2008 Share Posted January 25, 2008 Some of us ain't getting a dime. Not married and no kids... yer really screwed. Then again, I'd be driving around a SLK 55 AMG if I was single and in your shoes. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted January 25, 2008 Share Posted January 25, 2008 Then again, I'd be driving around a SLK 55 AMG if I was single and in your shoes. i don't think hankk wants you anywhere near his shoes Quote Link to comment Share on other sites More sharing options...
twiley Posted January 25, 2008 Share Posted January 25, 2008 i don't think hankk wants you anywhere near his shoes touché Quote Link to comment Share on other sites More sharing options...
Furd Posted January 25, 2008 Share Posted January 25, 2008 Then again, I'd be driving around a SLK 55 AMG if I was single and in your shoes. Maybe. But $300 would put gas in the thing for about a month and a half. Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted January 25, 2008 Share Posted January 25, 2008 My guess is that the biggest beneficiary of the "rebate" will be liquor stores. Quote Link to comment Share on other sites More sharing options...
Hankk Posted January 25, 2008 Share Posted January 25, 2008 i don't think hankk wants you anywhere near his shoes $300 will get you a decent pair of shoes. And you're right, stay the f*ck away from my shoes. Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted January 25, 2008 Share Posted January 25, 2008 It is funny how they call it a 'rebate' but formulate the rebate so that those that paid more get less. They should cal it what it is...another wealth redistribution. Quote Link to comment Share on other sites More sharing options...
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