Details of Bush Tax Rebates Announced

In a nutshell:

Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.

The package would allow businesses to immediately write off 50 percent of purchases of plants and other capital equipment and permit small businesses to write off additional purchases of equipment.

Full story.

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I guess we will borrow the money from China. If they will still play Monopoly with us.

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I only have a social security income and that is not taxable, so people like me will not get one of these checks.  That is fine.  I truly believe tax refunds should go to people who actually pay taxes.

 

I am fearful of what this will mean down the road.  I was talking with a lady friend of mine who also only has a social security income earlier this week.  She asked me what I thought of this scheme and I replied "Here, kitty kitty kitty".

 

We are being led down a garden path, people.

 

 

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So, it doesn't say it is.....but it doesn't say it isn't.....a REAL rebate, or just an advance on our next tax return.

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Rebate come March 600, 1200.  Not tax related, but it will be taxed I think.

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I think it will be an advance on the 2008 tax return that will be filed in early 2009.

 

 

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It's never worked that way before besides people who make 3000 but don't pay taxes get a rebate and could never make up the difference as they don't pay taxes.

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There is no free lunch.

Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and StickYou with the Bill)

by David Cay Johnston 

 

Seems like this is an excellent sutimulant for the Chinese economy. Wallmart, Target and other retailers selling third world produced goods.

  I wonder whose money it is in the first place?

   If it is tax money, it was ours and, we are paying quite a handling charge on our money.

    If is newly printed, it will further lessen the value of the already poor dollar.

     Is this an attempt to keep a chain letter going indefinitely? 

Great just heard on glenn beck if you didnt pay taxes and you made up to 75.000 than your the one who gets the money the rest of us(who paid alot) get nothing, Thank you very much again screwed by my goverment, I am so angry right now, who the heck do they think paid that money in? This time I was screwed by Pelosi, Reid and Bush-Does it ever stop. We had to take money out of a retirment account last year because we needed money, we were trying to help a friend who has since died with cancer and 2 other family members, one was my brother who passed also, so I got hit hard, had to pay extra because it was considered income, had to even charge what I ended up owing them(we are almost done paying that off) and now they are going to forget about us. This really stinks.All fairness is gone in our country.

Man, what a bunch of complainers people can be.  People complain when nothing is done and then complain when something is done.  There is never a solution that will make everyone happy. 

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I'm not usually a complainer but is it fair to not give it to everyone?Do you really think I deserve less because we worked harder, if thats the mentality for america, work less get more we are really in trouble. Why do anything at all? Dont I pay the same for my milk and gas?Complainhg because I pointed out an injustice?Stop complaining about the border, stop complaining about benifits illegals get, after all thats fair right?

ConcernedMom said: Man, what a bunch of complainers people can be.  People complain when nothing is done and then complain when something is done.  There is never a solution that will make everyone happy. 

I'm really sorry but I am offened by your statement, how do you justify giving to only a select group? are we not all Americans, Complain for expecting it to be fair- I dont get that, maybe you could explain to me why I dont deserve it while others do?

marcy, that wasn't aimed just at you and I certainly didn't mean it in a malicious way.  I just think we've become too accustomed to looking for the bad and to reacting negatively, especially by virtue of this forum where all any of us do is complain.

Nothing will ever make everybody satisfied.  I am sorry for all the troubles you have been through lately.  I think most of us are struggling with one thing or another right now. 

Also, the rebate will be incrementally phased out if you make more than $75,000.  After $150,000 you get nothing.

I think it is about as fair as you're going to get considering Republicans and Dems had to agree to work together for a change.  Thank goodness it's an election year.  At least Pelosi didn't get her way with increasing food stamps.

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marcy said: I'm not usually a complainer but is it fair to not give it to everyone?Do you really think I deserve less because we worked harder, if thats the mentality for america, work less get more we are really in trouble. Why do anything at all? Dont I pay the same for my milk and gas?Complainhg because I pointed out an injustice?Stop complaining about the border, stop complaining about benifits illegals get, after all thats fair right?

 

I think that you have a legitimate complaint if you worked and paid taxes and are now being told that you made too much money, therefore won't receive a rebate but that some under achiever who made $3000 and didn't pay any taxes will get one.

Maybe I'm missing something here but how does one get a rebate for something that was never paid?

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We are already in the hole for what...9 trillion? Whats 250 billion more? A bandaid...

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Concern Mom, I'm sorry, We shouldnt be going after each other, You are right about complaining, doesnt do any good anyway does it. I will find comfort in the fact that maybe someone who really needs some extra money, or really needs it for meds or food will have it, heck I try to give whenever I can, whats alittle more-Thanks for always being a voice of reason, again sorry, I'm alittle cranky, saw Hillary and Bill on T.V. today!

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Thank You,
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