If the Economy is Doing sooo Great, why do we even need this "stimulus"?? It should Really kick off now..


Whatever, I'll take the cash. My kids can deal with it later.... :santa:

 

Not eligible for me.

To find out when, how, and how much check here. http://www.irs.gov/irs/article/0,,id=180250,00.html

 

I have to wait for mine in the mail. Didn't do direct deposit when I filed taxes cause I always owe Hopefully I'll get enough back that it offsets what I had to pay on this years taxes.....but I'm not sure how this works the wife and I fall well under the cap on filing jointly.

Does anyone know for sure where this money is coming from anyway? I've heard one person say it is coming out of next years refunds and another said it has nothing to do with next years refunds? It probably doesn't matter matter anyway I doubt it is free money....it never is.

 

I think I got boned, I only got $300.

 

It comes out of the general budget. There wasn’t any extra money in the budget, so they’re going to have to borrow money. They do that by selling Treasury bills, notes, and bonds.

The latest 30-year bonds were sold at 4.375% interest. They come due in 2038. Essentially, the whole country is taking out a loan and passing it out to us individuals to get us through what they hope is a short rough patch. Your children will be paying for it.

Because it’s filtered through the general budget you can’t tie particular bonds to particular programs (like this one), but in general about half of the bonds are held by Social Security and Medicare programs, and about 10% by foreigners. The rest are held by American banks, bond funds, and pension plans.

 

This money is non-taxable and will NOT show up on your next year's taxes. It's supposed to be "free" money from Bush. His way of making himself feel better for oil prices and everything else costing US more.

 

Well at least the bonds are not all held foreign countries that we pay to buy their products then borrow money and pay back with intrest.

Well I plan on trying to stimulate the economy by putting new suspesnion on the TA. or paying my gas bill

 

http://www.msnbc.msn.com/id/23957476/

Here's some more info on it..

Japan is still the biggest foreign holder of U.S. Treasury debt ($587 billion as of January, 2008 ). China ($492 billion) comes in second, but is rapidly moving into first place: something like $90 billion of U.S. Treasury debt was sold to China in just the past 12 months. Other big holders include the U.K. ($160 billion), Brazil ($141.7 billion), and two categories the Treasury lists simply as “oil exporters” ($141 billion) and “Caribbean banking centers” ($108 billion). The list includes 22 other countries that are holding $10 billion or more.

Since Congress and the White House didn’t raise any new taxes to pay for the roughly $150 billion being spent on tax rebates and other “economic stimulus,” the government has to borrow that money; some of it likely came from China. But tax revenues and proceeds from borrowing all go into the same federal spending pot, so it’s tough to unscramble the egg. Your rebate may have been funded by Treasury debt sold to China, or someone else — or from someone else’s tax payments.

Unfortunately, we now owe interest on those dollars until the U.S. government pays back the money the Chinese government has lent us.

I understand the "theory" behind this plan. I just have serious reservations if it's actually going to work. Especially with a barrel of gas hitting a Whole new High today and the Dollar getting Weaker..

 

whats the deal with that?? i got that letter saying ill get a check but it didnt say how much. i here 300$ -600$ im single and no kids so.. im assuming 300$ the dollar will bounce back. one good thing if u want a loan for anything nows the time. now all this talk of suspending the gas tax. thats good for a few months but... we need a permaanent soultion.its what .20 a gallon federal tax then in my case .30 state tax. how many people realize there is a fed and state tax on each gallon sold.

 

Yup

 

mine ends in 56 got it today...only 300 bucks but Ill take it

 

If you did yours through a third party, and did a RAL, or paid for your processing fees out of your refund, then you will get yours by check.

The only way you will get yours by DD is if the IRS did the DD for your refund straight to your account.

 

How do you know if you are going to recieve one of these checks? I still live at home but work fulltime and go to school.

 

How much do you make a year?

I'm betting you'll be getting $300. I got mine yesterday direct deposit from the government.

 

less than 12K a year. I didnt do direct deposit with my income tax though.