So what are you going to do with your $300

[TimC]

Does America really need poor people anymore? Haven't the illegal Mexicans taken all their jobs by now? Can't we deport the poor and keep them instead? Call it a wash.

[Azazello1313]

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.

 

yeah. ya know, any lump sum "rebate" is going to be massively progressive in the first place. then they put an income cap on it which makes it even more progressive. and yet i read the ny times this morning and that vile little demagogue paul krugman, like clockwork, is lamenting the fact that bush is sending "the bulk of the money ... to people who are doing O.K. financially".

 

i don't mind the way they're doing it though because it's a very targeted, one-time stimulus and they are crafting it for maximum effect rather than "fairness" , which in this case i think is probably wise.

[yo mama]

Some of us ain't getting a dime.

Perhaps, but for some folks who were on the cusp of the income limits, this just in: "Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit."

 

That's good news for many six figure families who've been maxing out their retirement and HSA contributions. I'm glad to see the gubment had the good sense not to punish those who save.

Edited January 25, 2008 by yo mama

[Ursa Majoris]

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.

 

The idea of this rebate is to get it to people that will spend it, not to worry about whether it's entirely "fair". Whether that's right or wrong strategically, it makes sense to target it to the "non-rich" if it's going to work as advertised.

 

i don't mind the way they're doing it though because it's a very targeted, one-time stimulus and they are crafting it for maximum effect rather than "fairness" , which in this case i think is probably wise.

 

That's the point.

[CaP'N GRuNGe]

yeah. ya know, any lump sum "rebate" is going to be massively progressive in the first place. then they put an income cap on it which makes it even more progressive. and yet i read the ny times this morning and that vile little demagogue paul krugman, like clockwork, is lamenting the fact that bush is sending "the bulk of the money ... to people who are doing O.K. financially".

 

i don't mind the way they're doing it though because it's a very targeted, one-time stimulus and they are crafting it for maximum effect rather than "fairness" , which in this case i think is probably wise.

 

I'm sure the $50 billion dollar piece that will benefit business (which nobody is talking about...it's all about the rebate checks) is not very progressive in nature. You could argue that the direct effect would probably be to boost things like stock prices and dividends which those in the economy already doing well would benefit far more greatly than those near the poverty level (ie Perch's welfare moms).

[yo mama]

I'm sure the $50 billion dollar piece that will benefit business (which nobody is talking about...it's all about the rebate checks) is not very progressive in nature. You could argue that the direct effect would probably be to boost things like stock prices and dividends which those in the economy already doing well would benefit far more greatly than those near the poverty level.

That's a valid point.

[muck]

But I still want my $2,100...I just bought some furniture (being the high quality American that I am) and wouldn't mind getting reimbursed for a portion of it...

[Caveman_Nick]

yeah. ya know, any lump sum "rebate" is going to be massively progressive in the first place. then they put an income cap on it which makes it even more progressive. and yet i read the ny times this morning and that vile little demagogue paul krugman, like clockwork, is lamenting the fact that bush is sending "the bulk of the money ... to people who are doing O.K. financially".

 

i don't mind the way they're doing it though because it's a very targeted, one-time stimulus and they are crafting it for maximum effect rather than "fairness" , which in this case i think is probably wise.

 

 

It's not like I am all ready to jump on a soapbox angry about it. It's just the way these things shape up makes my chuckle a bit. Very political.

[Caveman_Nick]

The idea of this rebate is to get it to people that will spend it, not to worry about whether it's entirely "fair". Whether that's right or wrong strategically, it makes sense to target it to the "non-rich" if it's going to work as advertised.

That's the point.

 

I'd spend it...but I won't get any.

 

EDIT: If they want to make sure I spend it, send me a freaking Visa Gift Card

Edited January 25, 2008 by Caveman_Nick

[Ursa Majoris]

I'd spend it...but I won't get any.

If I was on that level of income, I wouldn't care. I really don't need the rebate anyway but I'll get it because I'm inside the cap, assuming joint filers limit is $150k even if one filer doesn't work. I doubt I'll spend it, it'll either go in the newly created (and very tiny) rainy day fund or it'll pay down my HELOC.

[MikesVikes]

Is hookers and blow considered wasteful?

 

Dan Quayle said it best...

 

What a waste it is to lose one's mind. Or not to have a mind is being very wasteful. How true that is.

 

Typical politician to have it both ways.

[TDFFFreak]

Is anyone going to invest it?

[Skippy]

Is anyone going to invest it?

I would feel guilty if I invested it knowing that the reason that I am getting it is to help the economy. I mean are not patriots?

 

It will likely end up extra vacation money for me depending on when it comes. Me and the boy will play at a few better golf courses and the girls will get ice cream while they are at the beach.

[theprofessor]

$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.

 

$300.00? I'll give mine to my Mom. She needs it more than I do.

[The Holy Roller]

Is anyone going to invest it?

 

Why do you hate America?

 

 

 

 

 

 

 

 

 

 

All on Red,sir............One time, baby!

Edited January 26, 2008 by The Holy Roller

[Czarina]

I will more than happily trade my rebate with anyone whose salary is above the limit if I can have the salary.

 

I wasn't paying attention to this whole thing until I heard it was $600 per taxpayer and $300 per child. That's $1800 for us and will offset the money we just spent buying a new fridge and stove.

[AtomicCEO]

I'm going to spend it all on cheap Chinese goods.

[cre8tiff]

THis seems more like corporate pork for Wal-Mart than a stimulus package.

[CaP'N GRuNGe]

THis seems more like corporate pork for Wal-Mart than a stimulus package.

 

Just wait until the final bill is passed and signed and instead of checks they send out walmart gift cards to everybody.

[Furd]

I wasn't paying attention to this whole thing until I heard it was $600 per taxpayer and $300 per child. That's $1800 for us and will offset the money we just spent buying a new fridge and stove.

 

 

At least let me pick out the colors next time.

[caddyman]

I will more than happily trade my rebate with anyone whose salary is above the limit if I can have the salary.

 

I wasn't paying attention to this whole thing until I heard it was $600 per taxpayer and $300 per child. That's $1800 for us and will offset the money we just spent buying a new fridge and stove.

That's the spirit. Ask for a handout. Surely you don't want to earn that salary. You act like the person with that level of income was just given it. Comical.

[Sugar Magnolia]

Is anyone going to invest it?

 

I will

[Czarina]

That's the spirit. Ask for a handout. Surely you don't want to earn that salary. You act like the person with that level of income was just given it. Comical.

Wow, I don't know who you are yet, but I sure do like you already! I just really don't need to hear the "oh poor me, I don't get a rebate because I make too much money" shtick, s'all I'm saying.

 

FYI, my family is a 'victim' of the current economy, having suffered a greater than 50% loss in income since January 2007. Don't talk to me about what I don't want to work for.

[Ursa Majoris]

I just really don't need to hear the "oh poor me, I don't get a rebate because I make too much money" shtick, s'all I'm saying.

+1

[caddyman]

Wow, I don't know who you are yet, but I sure do like you already! I just really don't need to hear the "oh poor me, I don't get a rebate because I make too much money" shtick, s'all I'm saying.

 

FYI, my family is a 'victim' of the current economy, having suffered a greater than 50% loss in income since January 2007. Don't talk to me about what I don't want to work for.

Please explain how your family is a victim of the current economy. As far as the poor me, that is not the issue. The issue is that I pay more taxes than you do, but you get a rebate and I don't. Just like the 35 million that pay no taxes getting a check. That is called welfare, which seems to ok for you.