intresting…

i like this….i wonder how much i would get back?

That’s sucks for those making a lot and paying the most in taxes..getting nothing back

@ # 3 yeah that does suck for them but they’re already making alot of money so they wont really miss it…if they do oh well lol

that’s interesting i guess we’ll see how this all pans out…

cant wait IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII WANT ONE

I believe they did this during the Clinton administration a few years ago. I think its a great way to stimulate the economy fasho. Man, I’ll be happy with anything I get back lol.

Yes, I believe this will help stimulate the economy because the first thing that people are going to do is to spend the money. It’s definitely important to make sure that your bills are paid, but make sure you use the money wisely. The first thing we tend to do when we receive unexpected funds is to spend it, but for those of you that want to start saving money, you should consider placing it in a savings account and then adding as much as you can on a regular basis. This is a rough time for the economy, but it’s important now so than ever to have some sort of savings whether it’s for an unexpected event or even for retirement. Think smart ! God Bless and Best Wishes!

@ #7, yeah they did do this back in ‘00 or ‘01, i don’t quite recall which year. It was nice to get that extra lil bit of change in the mail.

Interesting I need one they can send that right to me got books to pay 4

This is an attempt to keep the economy from falling into recession. That means spend the money! Do not save it! Pay your bills and save with you income from your job. The economy is struggling right now. When Americans don’t spend enough money, we our at risk of falling into recession. That means the value of our dollar will decrease. You don’t want that to happen. So spend baby, spend! This is the one time you should be more than happy to do it.

@ #3, yeah it sucks for them to not get much back since they pay so much in taxes, but if they’re making so much money already that they don’t get much out of this, I doubt it will really bother them much.

As for me, I have plenty of bills to pay, so they need to expedite this bill. I’m just sayin…

1. There is no money for rebates!!!!

2. Most people will probably go out and by new flat screen TV’s or something stupid, which will ultimately benefit China, Korea……..and the “smart” people will save their money or reduce their debts……….. which doesn’t help anything either.

3. They should have done this a while ago, and they aren’t actually mailing the checks until summer…………..

“It’s just too little to late, a little too wrong…….”

SAVE, SAVE, SAVE, IF NOT PAY FOR SCHOOL.

this is quite interesting. Yes the checks will not arrive until, June and Beyond. Or whenever, (expect the worst). What is interesting though, it that as many american’s read and become aware of this news, they will of course go out and spend the money before they have it, expecting it to come at any given moment. This could potentially put quite a few people in a desperate situation. As African American’s, we should use this responsibly. I’m no economist, and I don’t purport to be one, however, intead of making a check list of what to buy modeling the end of Beyonce’s “Upgrade You” we should enlist financial responsibility and attempt to save every penny, clear any debts, et cetera. Clearing debt will also stimulate the economy just as that pair of Christian Louboutin’s you’ve been feinding for. This is simply because you will have helped to decrease the amount that companys’ have in their allowance for doubtful accounts, which most company’s did not expect to see balances so high this season. Furthermore, I would also assume that if 13% of the population (black people) saved that money , and given that not all of the13% will get any of that money because they are over the minimum income cap for the check or have fallen out of society (the homeless) and cannot be located to recieve a check, I don’t think there will be too many complications with that. If anything, I would think that they would assume that more people than that

this is quite interesting. Yes the checks will not arrive until, June and Beyond. Or whenever, (expect the worst). What is interesting though, it that as many american’s read and become aware of this news, they will of course go out and spend the money before they have it, expecting it to come at any given moment. This could potentially put quite a few people in a desperate situation. As African American’s, we should use this responsibly. I’m no economist, and I don’t purport to be one, however, intead of making a check list of what to buy modeling the end of Beyonce’s “Upgrade You” we should enlist financial responsibility and attempt to save every penny, clear any debts, et cetera. Clearing debt will also stimulate the economy just as that pair of Christian Louboutin’s you’ve been feinding for. This is simply because you will have helped to decrease the amount that companys’ have in their allowance for doubtful accounts, which most company’s did not expect to see balances so high this season. Furthermore, I would also assume that if 13% of the population (black people) saved that money , and given that not all of the13% will get any of that money because they are over the minimum income cap for the check or have fallen out of society (the homeless) and cannot be located to recieve a check, I don’t think there will be too many complications with that. If anything, I would think that they would assume that more people than that will save the money, however I also think that their miscalculation may have come from assuming that the majority of African Americans will spend it and fewer whites following that will spend it. It will be interesting to see how this plays out in the coming months.

To the person who said it sucks that those that pay the “most” in taxes get none back.. they may pay a higher dollar amount but the percentage is much less then the percentage from us Po’ folk… example… say my check is $1000 and they take 33% that’s $330.. now get them rich folk with their $100,000 check yet only 17% is taken so that’s $17,000.. yeah the dollar amount is more but the percentage is less… does that make sense? So who is really getting the bad end of the deal?

Super duper rich Warren Buffett only pays 17.7% of his income into taxes. Do the math from your check- what % do they take?

@ 3 you are misinformed
people that are paying taxes are getting MORE…from inbetween $600 to $1800 extra depending on if you’re single or married or the number of children you have

those who are NOT paying taxes are only getting 300 and 600 if they’re married

the only people that are NOT getting paid are those who are making 100,000 yearly or more

this is SPECIFICALLY for those living in low-incomed to middle class that are living paycheck by paycheck

it’s shit like this i wish our government should of be like at all times. especially when they took immediate action with the federal reserve to prevent a disasterous reccession…

but we’re not out the clouds yet, but this is a good start

Tax cuts for the rich AND spending out of control is great for the economy….hmmmph!

Cheeeea, should be gettin’ my check right before my birthday!

The individuals that make $75,000 plus are not affected as much as those making $45,000 or less so for them to get a reduced refund is good. Fact: The rich always get richer. Someone has to break through that barrier or at least make pursuing happiness a little more viable for the everyday worker. Thanks for this tidbit. It gives me hope for this struggling GLOBAL economy.

Ok so this is gonna be a stupid question, dont everyone jump on me at once lol. You pay taxes when you file your taxes correct? Im trying to see how much I would be getting back and im for sure filing this year and I made well over 3,000…..and im single…sooo I would be getting 600….or 300?

Thats a good look. Hope I can get a little somethin’!!

It’s a great idea, considering that our economy is heading for a quote-on-quote “recession” by early spring, late summer. These checks will encourage recipients to spend in steadily slumping market, or dare I say: “pay off some debt” for those persons who are ‘in’ debt. BUT these checks are just a way for President Bush to save face before he leaves office in 08′. After all, when people look back at his presidency, I’m sure Bush would like to be remembered for the good that he did, and not the war that he started (which by the way- is damn near imposible).

that’s cool and all that some of us like me, will acutally be getting some money back from uncle sam. but my worry is why must time be a factor in something that is a necessity to us the taxpayers? There are so many plans that I have for my tax return, but now I must wait until June or maybe later. You gotta luv our government.

I’m gonna use it to pay off my car..Yaaay.

this is a stimulus package who’s purpose is to boost the economy….so the object is for you to go out and spend it…..
I know when you get money most of the time you should save it….but this is one time that you shouldn’t.

Pretty interesting…We’ll see how that works out.

I dont know about this. One time Bush gave everyone with children a “rebate” and when we filed our taxes the following year the money had to be paid back…not a good feeling when you already owed. Just a word of CAUTION when everybody is running to the bank or the liquer store.

imma need dat.

Thank you #30. You took the words right out of my mouth. This cash from the government is nothing more than a temporary loan. When you file your 2008 taxes you’ll have to declare the money as income, so that’s money being taken out of your pocket in the end. I hope I don’t get one because I won’t miss what I never had anyway.

!!!!!!!!!!!PLEASE READ!!!!!!!
I am a CPA and if I seen this once Ive seen it a million times!

Everyone know that there is nothing free in this world, right?! The government had this same talk a few years back and MOST households recieved between $500-800 for that previous tax year- BUT- please believe the following year Uncle Sam wanted his money back!

Think of it as a loan and not free money! The same holds true for the credit that they give for single parents; you will have to pay a portion of the money the next year!

My suggestion is to:
(a) take ATLEAST HALF of the money and put it on an interest bearing CD (6-12 months; you decide) so IF you do have to repay any portions of that money the funds are available AND you will have a few extra for yourself!

(b) pay off some of the debt; school loans, credit cards, pay your friend back from that one time you borrowed some money!

(c) just use common sense on how and where you spend the money!

SHOW ME THE MONEY!!!!!!!!!

Please believe people you will have to pay this money back. I have a friend who works for H&R Block and they recently had a meeting regarding these checks. You will have to claim the amount you received in your 2008 tax return. Remember what you learned in Economics people…”There are NO free meals”

My thought was…the taxpayer would not be taxed. The notion is to encourage spending! I think it’s a interesting idea…
*on a non-serious note I thought OF THE CHAPPELLE SHOW “REPARATION” EPISODE. when I saw this…lol

thanks CL!

Aint none of ya getting anything bacause you all owe. LOL J/K

Another thought … since most American’s will qualify for the rebate check this tax season (perhaps an extra $600.00). We’ll probably have to report it on next year’s taxes as “additional income received from this year”. So … in saying this - are we really receiving anything for FREE? I work for the IRS, and I haven’t gotten a concrete answer as of yet!

Too late, Bush. First you drive the country into debt with your little hobby– this grotesque war, now you wanna go out on a positive note by attempting to pull us out of the grave you dug. Too late.
I will not be immediately spending a thing. If I do get a check, half would be put away for a future vacation and the other half into my daughter’s CD.
I’ve done my share of spending, but thanks in advance for the extra cash, George.

Interesting….not too excited because at the end you’ll be paying it right back.

TIMBALAND_SUEDE..ITS ME MEE..ALLISON

Thank you for setting the record straight..nothing is free in this country and you WILL have to repay this money back next year..this is only a LOAN!

Let’s just say it “We going to a recession,” but if you ask me we been like this since Bush was in the White House.I had my little money received from the school and put it in a savings.Don’t get to happy lol.

$600? what the hell is that going to do for people who are thousands behind on mortgage payments or have been without jobs for months? This is a bunch of crap, just a way for George Bush to try to save face before he leaves office. $600 per average person is not going to stimulate the economy. STOP RAPING PEOPLE AT THE GAS PUMPS! That’s one thing that will start to turn things around. $600 ain’t gonna do it.

Clinton did not do this before. BUSH has done it before. Lame. He thinks a tax return is going to keep him from being called a bad leader. Not true.

there is no such things as free lunch

wowow aint that truth

but i wouldnt mind some money back

=D

I don’t think it’s right for ppl who make $75K to get a reduced check, or none at all. Because like someone said, the more money you make, the more they take out in taxes. For example, I saw a MUCH bigger income tax return, when I was in school working part time. I received all of the taxes that were taken out of my checks….and then some. So I was seeing like $3-4K for income tax returns.

When I graduated and got a good job, I started to get taxed from every which way AND I’m not seeing it all back in tax returns. These Mofo’s take out at least $400 PER PAY in taxes, and the most that I’ve gotten back in tax returns since working full time is $1500. I’m not over $75K yet, but I d*** sure hope to be there in the next couple of years. And yes, it will suck for me not to be able to receive this extra “stimulus”.

All I’m saying is, don’t assume that ppl who make a good amount of money are walking around with pots of gold. After you add up student loan payments, mortgage/rent, utilities, health insurance etc etc….Someone making $75K can have it just as bad as someone making $25K. So this government needs to figure out a way to help PEOPLE all around the board…not just low and middle class.

And I agree with #43

I make over $75K, but I still had a small business fold last year due to this screwed up economy. My pockets are hurting like everybody elses. I don’t care about this fake tax return. What makes a difference to me is not having to put $60 dollars a pop in my damn tank! BUSH IS MAKING MONEY OFF GAS! It’s these kinds of things that people MUST HAVE like gas, food and medicine that are hurting the economy. Not to mention having driven up the price of housing so now people can barely afford to live. BUSH IS GOING TO LEAVE OFFICE A BILLIONAIRE MANY TIMES OVER. That fony tax return will be gone in the blink of an eye.

They are giving us the money so we can put it back into the economy.

“They are giving us the money so we can put it back into the economy”

This is true. But any “lift” the economy sees will not be sustained by these measly refunds. There has to be a long term strategy in order for things to recover and we are not going to see this until Bush leaves office. If he was really trying to stimulate the economy, he would be doing this as well as something to cut the price of gas, etc. Why the HELL should gas be nearly $4 a gallon?

# 16,

DuBois v Booker T–You’re right on the money! I Yes, it’s important to pay off bills and etc…but, since the funds will come at a later date you should think responsibly and save. Trust and believe, I work for a bank and I know a lot of people are going through hard times right now. Just think smart, it is free money and we should all be excited but try and save a little bit to help you when you need it the most or like what most people are saying, save for when Uncle Sam wants to collect it back :).

*Once you put a little or all of it away for savings, maybe we should think about the less fortunate and treat them to a meal, blanket, article of clothing or something. * As African Americans, we have to start thinking “smarter” about how we allocate our funds.

Peace Love and Blessings!

interesting

So to get a better understanding, you don’t even have to file your taxes to get this rebate? Their just going to mail out these checks? Or is it once you file you’re going to get a rebate check?

This bonus is only for heads of households.

the more you make, the less tax rate they charge, but you still pay more because you make more. 33% of someone who only makes 40K a year alot, while only taking 17% from a millionaire, if everyone had an even tax rate, i.e. lower the tax for lower income individuals and raise it for millionaires they wouldn’t have to tax those who aren’t super rich out of the ass.

And anyone who paid “3 - 4 thousand in taxes while working part time in college” got straight up fucked in the process, I made 20,000 working part time and I paid out a total tax of 1600 dollars and I don’t claim any exemptions, so I don’t know why you paid so much.

WHERE MY CHECK!

Whenever these rebate checks are delivered,I for one will be putting mine to good use. I have school to pay for and a teenager with new braces and debt out the ying-yang!

I would love to go on a vacation,if in fact the happen to be delivered in the summer-I haven’t been on a trip since 2003-I’m due for one.

And my last thought would just be to save it-but with the above mention-that’s going to be hard to do.

Whatever happens-I say just hurry up and cut my check-LOL!

They sent my brother a letter stating how he could get a certain amount back from the government because of the low amount of money he makes each year. But the government is gonna want it right back next year!!!!
keep your extra 600$….I dont want it!!!!!

As far as I’m concerned its a bribe from Bush!!!!!!

I start school today and I’m taking a Class on Institutional Racism and I took this quote from an article we will be discussing today….

“Last this rage is fueled by a political atmosphere in which images, not ideas, dominate, where politicians spend more time spending money then debating issues. The functions of parties have been displaced by public polls, and politicians behave less as thermostats that determine the climate of opinion than as thermometers registering public mood….”

Cornel West, Article:Race Matters

Basically it says that the government would rather spend dough then address the real issue. I bet they sending everybody 600 dollar checks…..to blind them from the fact to why Bush or the Republican Congress wont explain why there were 900+ lies about going into Iraq

GET EM J.D.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Concrete loop is sooo right “there is no such thing as a free lunch!” so all those lazy black people that dont work and depend on welfare…and inevitably do not pay taxes or try to work to pay their taxes like good citizens will get… NOTHING! SORRY!…i knw ima be waitin for my check tho! YEEEAHHHH!!

People, try not to let this $600 or more burn a hole in your pockets, try to put this money into a CD like people are suggesting or put it into a high interest bearing savings account. ING direct is your friend, put that $ into ING (i have accounts with them) and let it collect interest, because when 2008 rolls around they are going to take it right back IMO. By the way ING offers like .03% - .04% interest, not .015 like most banks and their CDs are around 5% for a 12 month CD (ING needs to pay me for all this free advertisement) ,but for real if you don’t have one with them look into..you should be dropping at least $20 or more off your pay check if you can into a savings anyways…black folks need to save and invest so we are not struggling when we are old.

Oh, I get it! America can just print more dollar bills and hope the rest of the world will accept it!

some of y’all aren’t looking at the full picture…
of course its a temporary fix for a larger problem, but they had to do SOMETHING or we would of been in another great depression. the past week the entire WORLD went into panic mode had it not been for the federal reserve as well as congress pulled some drastic measures..i never realize how much of an impact this country have with the rest of the world

they did the rebate in order to boost the economy….because we’re tanking! i understand most of y’all are living in paranoia and thinking there’s a catch to this, but if you watch the news lately, this is something that HAD to be done

now for it coming out of next year’s taxes (its not going to count for this years), i honestly don’t know. i know i didn’t file my surplus money back in 2001…obviously if they giving us money, then its obvious that we have to pay it back…

I’m sorry, but this is a short term plan for a long term problem. Trickle down effect hasn’t worked in about 70 years, and if I know I’m sure the gov’t has to be sure of it. Granted, it’s already passed, but the gov’t shouldn’t be so content with this plan, and should now focus on long term strategies and goals to repair the economy.

Wall St lost about 30 billion dollars last week with just 4 major companies losing quaterly earnings and the lost of thousands of jobs. What about the “working poor” who contribute to the economy. With this stimulus, you only get a rebate if you made at least $3k last year…a lot of people didn’t make that much last year, believe it or not.

Anyway, I’m not a fan…

thats wassup,its alot of low income families in need of not only their tax returns but the rebate check too…so it will be cool that they will have some other funds comin in to add to what their already getting………….

i have alot of fam that will appreciate this.

extra money for bills

I doubt that this tax money is going to avoid a great depression. It’s already a recession, even if they don’t want to call it one. There won’t be any relief until we get a new president. WHICH IS WHY, my vote goes to Hillary. I have nothing against Obama, but I don’t have time to see if he can show and prove once he gets into office. He’s talking a good game but I know for a fact that Hillary can get the job done, if for no other reason than she has the benefit of Bill on her side.

Oh boy. Here we go.

They can find money to help bail out a failing healthcare system out of bankruptcy or create poverty programs which keep babies and 10 year old off the streets but they can find money to “stimulate the economy”. This will eventually hurt us more than help us in the long run. For the most part, people who have a mindset to spend, spend, spend will continue to do so and this sort of thing does not encourage people to save for their retirement. That’s why millions of Americans (specifically the Xers and Yers) won’t have a pot to pee in when they reach their majority.

It’s almost like the gov’t takes people for fools (which a lot are). But what’s worse is that a lot of people will fall into this trap and develop the mindset that the gov’t will bail us out everytime there’s an economic crisis at hand. Not so because the gov’t is a co-conspirator in part to this mess. The economic downturn that we’re facing was created intentionally by mortgage companies and other financial institutions that systematically attempted to keep the poor poor. That’s no secret. Look at who is most affected. Do people really believe that the gov’t, banks and lenders didn’t see the subprime mortgage mess coming?

I hope people have the good sense to take this money and do something useful with it. Buying a 35-inch flat screen may stimulate the economy but what good is it when you’re 65 and can’t afford to heat your home? Oh yeah, and like someone else said, this is a rouse. You will be taxed on the following year for this same “free money.”

i’m gettin some money? always good news!

@17. Great Advice! One of the things the government repeatedly emphasized was “getting the money in the hands of the people who would spend it quickly” . I guess that means poor people. They are probably banking on the people with no money management skills to go out and by that new HD TV.

@18,

I think you have misunderstood exactly why the rich pay so little in taxes. I’m a corporate finance/corporate tax attorney.

Warren Buffet does not earn a paycheck. He is an investor. His income is primarily from his investment holdings. When you are an investor, you are taxed on a “capital gains” rate. This rate is not very high. As an investor, rather than an employee, you also have much more flexibility in terms of arranging your investments so that you have low tax liability.

However, people who earn a lot as EMPLOYEES, do pay taxes and do take quite a tax hit. To be honest with you, as a person stated earlier, I am a 6 figure earner, and I get hit VERY HARD with taxes, and I never expect to get a tax return.

Contrast that to a person who can be on public assistance for 9 months, work a low paying job for 3 months, and pull in a $5000 earned income tax return and you will see (I hope) why people who earn a good income feel that they are shouldering more than their fair share of the burden.

I can tell you this, my yearly income tax hit WITHOUT aggressive planning (what they take from my check and or what I owe) is more than what many people earn in a year. That is a significant chunk of change.

But when I was in private practice, I could be a little more creative with my income.

So when the press tells you that “the wealthy pay less taxes”, they are talking about the REAL wealthy, the EXTREMELY wealthy, the upper echelon of wealthy..like Buffet and Gates. Not the person in your neighborhood who works everyday and earns a nice check. Those people are getting hit hard and it is not necessarily fair.

@46..see my post above and AMEN!

66. ms_mac

Preach Sister!!!

I hope everyone uses the funds to inject some “wealth” into their lives. Invest, Be productive. Let’s not JUST be blind consumers anymore y’all. Good Luck with that.

My mom was telling me she remember getting some money back and then having to pay it back, so as much as I want to pay my credit card off I’ll just keep paying them chunks at a time and put that rebate in a cd untill they ask for it back.

The IRS is the last person I want to owe money to.

Hmmm, nice thought but no thanks BUSH. Our government dosen’t care about us. From going into debt for getting an education to taking care of our families. Washingtion, congress, etc don’t give a damn about how AMERICA lives. They collect their billion dollar checks and keep on moving.

I just wonder who would get the money first? Also, I was wondering if the govt would try to put restirctions on what the money could be used for. If this money is supposed to be used to stimulate the economy, what happens if people take the money, use it for down payments on cars, houses, boats, rims, ect… and then when the money is gone, wont things go back to what they are now… meaning the govt will be trying to come up with another plan later? There just sounds like a catch ((( reminds me of the old saying, “nothing in life is certain but death and taxes))).