president bush is expected tomorrow to sign an economic stimulus plan that would distribute approximately $150 billion to millions of americans who file 2007 income tax returns. the one-time rebate checks will be sent out to 117 million low-to-moderate income residents. people who file their income taxes individual could receive up to $600 while those filing jointly could receive up to $1,200. an additional $300 will be given for each dependant child. but, if you received a refund on your 2007 federal tax return, your rebate will drop to $300 for single-filers and $600 for joint-filers.
this plan is the first thing bush has done in eight years that i agree with, even though it means our economy is not thriving. i’m excited to receive my check, even if i may get less since we didn’t have to pay after filing our federal tax return. but, as always, i’ll believe it when i have the check in my hand.
I’m not so sure this is going to help the economy. Like the gift card binge at Christmastime, where stores were hoping for overspending on big buys, this “extra cash” may very well go toward paying off piles of already incurred debt.
At least, that’s MY plan. 🙂
that’s our plan too…it will go to that and our savings account. 🙂 i really don’t think it’s going to stimulate the economy, but i’m not going to complain about getting an extra check in the mail!
I don’t agree with the plan, because it’s just a few hundred dollars for every family, and $150 billion in cost to the government. It’s the opposite principle of taxes, which is that nobody has to pay THAT much but because there are so many of us, it adds up to a lot. And also, I believe that “moderate” income extends to the low $100,000 salaries, which I can’t imagine will be THAT affected by a few hundred dollars. Just a guess.
But still, hypocritically, I am totally looking forward to getting our check. Assuming it really happens.
Though it will be nice to receive a little extra money, I don’t think this is a smart idea for our economy…hmmm..spending over a hundred billion dollars when have a deficit that is over 9 trillion dollars…something tells me this plan to jump start the economy isn’t exactly going to put a dent in the deficit. Our dollar is losing value all the time, and printing more and more money with nothing to back it up (which is what they do now, they don’t back it up with gold) is just ridiculous. Like I said though, it’ll be nice to receive a little extra money, but I definitely don’t think it’s one of Bush’s smartest moves.
I’m confused about the part where if you got a tax refund in 07 your extra refund goes down? I hadn’t read that anywhere else, but it doesn’t seem “fair”
Weddings=bleeding money.
I’ll take whatever I can get.
P.S. It wasn’t till I was reading through your “hundred things” (you’re married now! :)) that I saw you have an older sister. We don’t hear much about her. Actually, I think I recall you mentioning her once. What’s she all about? Four kids, two of each. Wow. 🙂