I'm not sure if there was a topic already started on this in the 20+. If this topic has already been made then mods please close.

I'm sure most of you have heard of the Bush's tax rebate to set off this summer. I think it's $300-$600 (depending if you paid taxes or not) dollars if you made over $3,000 in 2007 (I'm totally confused about this part. Some are saying it's based on 2006 some are saying it's on 2007). To qualify for more I think you would have to pay over $300 dollars in 2007 for federal income tax. Rebates will start getting mailed around May.


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Some people told me the whole point of this is to basically spend it (bills and all that good stuff). It'll help the economy or something. I'm a noob so I'm usually clueless when it's about the economy.

So what are your thoughts on this rebate and what will you be planning on spending it on? My friends said throw a party but eh.. haha. I'll probably be boring and pay off a few bills. A few I know totally have negative comments on this saying that it's basically an advance from our taxes for next year or that this is all a scheme for them to get more money... but hey what do they know hehe.

probably get me a digital camera...

1200 bucks? HELLO 120Hz 46" Sony Bravia LCD TV!!!! w0000000000000000000000000000t

"For taxpayers with an adjusted gross income greater than $75,000 ($150,000 for married couples filing jointly), the basic or minimum rebate amount is reduced by 5% of the adjusted gross income over those amounts, but the rebate amount will not be less than zero."

President Bush (Republican)???

I'll be patriotic and also spend my $1200, on a sony XBR5 tv.

Also this is not an advance, we will take a deficit hit.

Its a 600.00 Rebate

Requirements:
1. Valid Social Security Number
2. Min of $3000.00 income
3. File a 2007 Fed Tax Return

From the IRS Website..
http://www.irs.gov/irs/article/0,,id=177937,00.html

Oh dear. I guess going across the border to Tijuana for a weekend of debauchery doesn't exactly help the US economy, does it....

wow... spend that much on a TJ trip? i bet you'll get treated like a king!

King?
Nah, just a John.
Or actually, a Juan.

j/k

i can either be boring & smart: open an IRA
or splurge it all!

oh what to do ....

Lol.


Umm, I plan on using the money to celebrate my 21st birthday: Sky diving + Party in Manhattan. The remaining will go into savings.

No!! Washer and drier !!

More stupidity from the Congress and the White House.

I think it's pretty suspicious that they're "throwing" money away.
...Not that I'm not complaining

I'm going to spend my original refund on tinting my windows but that's still a small-medium portion of my return.
I'm pretty sure I'll think of something =P

1200 if you are married filing jointly.

Excellent points on the requirements, especially #3, i'm sure many who are eligible will not file.

i think i might hook my car up with the money been wanting to do that for the longest its just sitting back home in cali looking lonely lol
BUT
the govt knows were going to put this money back into the economy lol

In my American govt class my professor talked about this not long ago and said it will probably go to taxes and paying bills and I think that's true too since so many families and people in general are having trouble with finances....

Oh I love it. It couldn't have come at a better time in my life. I'll actually pump the cash back into the economy like it was intended for.

ah ~ it sounds exciting, but i heard that they're going to take the money back later next year?

Now that I think of it, and the way things are going, I think the entirety of my $600 rebate check will just be enough to buy me about 3 full tanks of gas.

Bah, Bush gives me $600 - only to have me turn around and pump it right back into the pockets of his oil tycoon cronies.

Seriously...

I'll be spending it on a nice upgrade for my DSLR

you drive around in one of those hummer limos?? and yes that was my thought too, give people money which ends up in the wallets of the oil companies anyway.......i still cant get around why prices need to be so high if they're making record profits every year.

DARN!!!! I get nothing. Didn't make over 3,000!! (should've started working earlier!!)

You can make 3000 in 2008 and be eligible for the rebate in 2009...at least that's what i've heard.

Hm....free money. Can't complain. My money will go towards a deposit for my new apartment.

i would probably get a new monitor with it.

I dont think this is gonna be an annual thing..

Wish it was an annal thing. Anyways, I even heard Bush announcing it himself. He said "One-time rebate."

he also said he wouldnt bail anyone out.......but oh wait then there's bear stearns

Can't wait, money is always nice. Probably go buy some clothes or something.

i didn't even get that much back! T_T

Don't confuse the federal reserve with the President.

It is a "one-time" rebate but there is a chance that if you don't qualify this year, you may in 2009 as a "second chance" thing. I haven't heard confirmations but it's been talked about.

http://biz.yahoo.com/usnews/080208/08_a_se...1&.pf=taxes

ohh my co-worker was telling me about this... i'm not really sure if i paid taxes or not... i think i do... but either way... money is money...

this is going into my savings for my study abroad...

My parents did my taxes for me, so I don't know if I paid for any taxes. I don't know how much I'll be getting back. To be completely honest, I intend to save this money. Will it be a big issue? I really want to use this money to save up for my plans of a trip to South Africa in 2010. I already have a bit saved but every bit helps!

it's going straight into my savings account.

Yeah me too >.<

So i've been hearing different things. $300 dollars or $600 dollars?

I was watching CNN and they said the IRS website has a calculator for you to use
http://www.irs.gov/app/espc/

The money will be sent out as early as the beginning of May if you do direct deposit, and it'll go in order of the last two digits of your SS number

It's 300 to 600 dollars for single.

1) If you fit all the criteria and paid less than $300 in taxes, you get $300
2) If you paid taxes between 300 - 600, that's your rebate. So if you paid 500 in taxes, your rebate will be 500
3) If you paid over 600 in taxes, you get 600.

I think many on this board are still claimed as a dependent with their parents so they're going to get the money and not you if even if you file.

according to this it tells you when you will be getting your stimulus check if you are getting one..

http://www.dnj.com/apps/pbcs.dll/article?A...NEWS01/80317046

i wld used the $$ to pay off some debts.

yea i read about it. which is why im bothering to file at all~

unfortunately, im not eligible for this one...
i dnt work..lol!



for those people who are getting this check, use it wisely and it'll can help boost up our economy!

I love the fact that the government bailed out all these companies but give no relief for those who have student loans.

It's going towards bills.

I sooo wanna go out shopping for something nice but...
I think I'll opt to pay off my student loans.

Those big companies have an impact on the Economy, you don't.

Apparently we do since the government is giving out all these rebates to pump money back into the economy.

^Those rebates are to increase consumer spending, to pump money back to our economy. I don't understand how paying off your student loans are going to help the economy.

^maybe not STUDENT loans but loans and credit card debt getting paid off will definitely help the economy since that's one of the factors for why it's so bad now. Than again since the average American has around $10K in credit card debt just how much will $600 do? I'm not entirely convinced that this bill will get the Economy out of it's funk...even if people do go out and blow the $600, if enough people do it, it might bring the Economy up for a little bit because of increased consumer spending - but as it won't actually help anyone that has debt it will just go back down again.