So, does anyone think that we will get rebate checks? If so, what would you do wtih yours? I would use mine for debt, which I don't think will really help the economy, but it would help me!

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Mommy to Jake, Alexis, Abigail and Joshua, Wife to Matt

According to the news I watched this evening, they are talking $1600 per family, $800 for a single person. If we do get it mine won't help the economy either, it will go to pay my taxes this year on April 15th (if we get it by then) they are saying we should get it by late spring.

I still do not think this will help the economy very much..they keep trying to patch it up..it will get alot worse before it gets better.
But, if I get a rebate tax check it will go into my ING Direct to make more money (interest). I will not be spending it.

Edit: On second thought...if I got it in time I would donate half to the Ron Paul campaign and the other half would go into my ING Direct account.

*If* it happens, that puppy will go directly into either DH's 401K or a Roth IRA.
*Unless* I find any fabulous deals on *stuff* we need. ;-P
MZ

*if* it happens we probably won't get anything since we get back everything we pay in since we have kids (that child tax credit really adds up :-) At least this might help out all those that get slammed by the Alternative Minimum Tax.

I hope we get it but I will save it also. Done spending on stupid stuff for a while except the Driveway Sealcoat Mulching etc. Guess I will be spending it AGH!!

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Without Health you have no Wealth!

What is this about?

"IF" we get it, then ours will go directly into our IRA's for the year.

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"Why must you speak, when you have nothing to say." Horatio Hornblower

We don't get that much back, we figure ours out in advance so that we don't have a lot extra taken out.
What we do get back will go into our IRAs, savings or mutual funds.

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Donna

from the posts already here, it's clear that the "refund" wont' help the economy because most people will hoard it (ie: save it) or use it to pay past debt. The purpose tis to increase the economy and stimulate growth. I would use it to pay for materials to finish our basement

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Proud to say I haven't shopped at a Wal-Mart since Sept 2003

I think that would be awesome I dont know if it will help the economy but it would help my finances alot LOL

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mom of 3 greats girls

If we qualify for the rebate, the money will go for bills. I nearly choked buying heating oil yesterday. Thank goodness I didn't have to buy a full tank. If any money goes out to the economy, it will be for groceries.

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We're off to never never land

We would love to use ours for a vacation or to help remodle the kitchen, but we will more than likely use it to pay off 2 bills.

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Well, dh and I are still actively helping the economy. (We just spent 4k on a tv, reciever and blu-ray player) DH will be buying a new Pathfinder in March or April. If we get a rebate it will go into our vacation savings fund.

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The government is proposing to give every family/single person a rebate (just send everyone a check) in hopes that the consumers will go out and spend it in hopes that it will jumpstart the economy and avoid us going into a recession. I think it's too little too late, I think we are already in a recession. But I'll be happy to take their money to apply to this years taxes that we will have to pay, if they want to give it out!

I'd use it on diapers and food, probably. That does help the economy, even if it is deadly dull!

i would pay bills with it still have one big medical bill we are paying off ugh!

OK - I have a question. The way I heard it, it was $1600 for married couple or $800 for singles. Our 2 "adult" children still live with us, both of them have W2s. Would they get $800, too?

Last time (in 2001) the checks went to people that filed taxes. So, yes if they have filed taxes they might get it. Based on tax returns and income level.

The government done this on a smaller scale last time ($38 billion this time $150 billion).

Rebate checks is a horrible idea. The money either has to come from somewhere which means budget cuts and job cuts or from a deficit which means borrowing the money at a high interest rate. If the government gave you a Master Card with 50% interest and said "You can spend it but your kids or grandkids will have to pay it back with the interest" would you take it or say "NO thank you".

The money has to come from somewhere it's not just sitting in a coffee can somewhere. We already have the biggest deficit in history thanks to the war now we want to saddle our kids and grandkids with this fancy scheme?

It would be different if the money fell out of the sky, everyone won the lottery or it was just sitting in the garage at Fort Knox. That's not the case.

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The political system is broke and it's a joke.

I am sure that somehow we would not get 1600. If we did, add me to the savers. We are so poor right now, it is sad!

We'd definitely use some of it to reseal our driveway and probably do some more outside improvements around the house (i.e., more pebbles in the flower bed, mulch, trees, etc.). I would love to get the $1600. We want to do improvements but just don't have the 'extra' to spend.

I am with annadrose on this one. I would love to get the money and since it is an election year I wouldn't be surprised if it got through but our deficit is so high from all the war expenses It seems like it would actually be disasterous for the economy. I would spend it on fixing up/remodling the house probably but I don't think this is a good idea. It feels too much like desperation/ buying votes.

It is vote buying. When the American people figure out how to vote themselves benefits from the government at the expense of others, this country is doomed. They have and we are.

I like to call it the Sally Syndrome. In the 'Charlie Brown's Christmas' show, Sally was writing out her list and said something to the effect of, "I only want what's coming to me. I just want my fair share." Well, everybody now thinks they deserve their fair share and it is destroying this great nation. Makes me mad!

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I want to keep ALL of my paycheck and eliminate the pyramid scheme known as Social Security (there is no lockbox ). Do you want the same thing? www.fairtax.org

So who do you think is doing the vote buying and for what party??

IT'S ABOUT POWER!! Whoever wants power does the vote buying. Party lines simply don't matter anymore. You cannot control the masses without power. If you give, give, give, the masses line up for their fair share. Once they become accustomed to the goodies, you can tell them what to do and how they're going to do it or threaten to take away their freebies.

It's no different with the rebate idea that is being proposed. The other poster had it exactly right. This is borrowed money that future generations will have to repay just because some politician wanted more political power and people see it as free money. I don't doubt some people really do need it. Heck, I could use it too, but not at the expense of future generations.

Ever watched 'Deal or No Deal'? Listen carefully and you'll often hear family/friends tell the contestant, "You deserve it!" Why? Why does that person deserve it more than the guy living next to you? A good work ethic and morals in this country are fast becoming nonexistent.

JMHO

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I want to keep ALL of my paycheck and eliminate the pyramid scheme known as Social Security (there is no lockbox ). Do you want the same thing? www.fairtax.org

I don't want it either. I think that this is a bad idea and I know that down the line we will end up paying for it. I just want my income tax refund and to keep working the way you should to get the money that you have earned. Not some sneaky, back door way of trying to buy my vote.

I'm wondering too. Hubby did a Google search and didn't find anything. Probably not using the right search terms.

Anyone have a link to where we can read about this?

Thanks!

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just wondering if this is like the time before when people with kids under 18 got a rebate ? the reason I remember that so well is the folks that live down the road from us had 4 kids and they got like 1200. the wife was at the store trying to cash her ck. ( this is a small mom and pop store) and the little lady that ran it told her they didnt have that much money in the drawer and she pitched a fit. someone else standing there told her to take it to her bank and she said they didnt have a bank. well, a few days later, ( she must have got it cashed somewhere) she was back at the store showing off some stuff she had bought. fast foward to the following weekend and her hubby was over trying to borrow 2,000 from us cause the needed to repair their roof.
these are the same people who won 10,000 on the lottery when it first started here and they were 2 yrs behind on their property tax and didnt get but 800.00 of it after the taxes were paid.

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"Never loan your car to someone you have given birth too"

I do not think either party is trying to buy votes. The economy is so BAD that they are trying to stabilize it by giving people money to hopefully spend. Once again the Feds are printing money out of thin air. It will cause the value of the dollar to go down.
What is the best thing for the economy is what people do not want to hear or do. Which is to let the crash happen, sooner or later it will happen but the longer it takes the worst it will be.
The Republicans and Democates are BOTH to blame for the economic mess that is occuring.

Thank you.

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If we were to get it and depending on when we got it I would either stick it in my ING Account or if there are any bills left after tax season is finished I would pay them off then anything left goes into ING to save for us to move this summer to FLorida to be near my mom. I am working this tax season first time since 2004 and am snowballing my debts to pay them down so we can be in a better financial situation come summer, my Doctors are having a fit but its hard to live on one salary and a small disability check thank god I work for a great company and still have a trial work period through SSA where I dont lose my measly benefits. We truly are in a recession everything seems to be going up but the salaries are not and its hard to live, I cant believe how much we have cut back on things, we hadnt been out to eat in 2 months and went out Friday night as a treat !

It would benefit us more if the Government would put a cap on gas prices, milk, utility costs etc instead of letting them soar out of control and of course then there is the escalating cost of the war our great grandkids will paying this debt off.

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Agreed 100%. This is plain and simple Republican vote-buying and stupid vote-buying to boot. Giving people a one-time "gift" of $800 is going to invigorate the economy? Ummm...yeah.....right.....swamp land....sure, I'd like some.....NOT

cj/

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I was walking home one night and a guy hammering on a roof called me a paranoid little weirdo. In morse code. -Emo Phillips

I hope we get it. I will pay off a credit card with mine.

We don't have much credit card debt and we are pretty good about saving. So I personally would buy a new dining room table I have been eying for the past 6 months.

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kind of, but NO LOL
that was an advance of the child tax credit (credit for children 16 and younger)
But there was a rebate before too

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I have OCCD
Obsessive-Compulsive Coupon Disorder!!!

And why do you think it's a "Republican" thing? I've seen on the news and read in the newspaper that the Democrats are backing it, too.

The previous time was for the tax year 2000. We got the rebate in 2001. I remember because my son was in college for a 1/2 year that year so we could claim him for the 6 months. Even though he paid taxes on earnings for the other half of the year, we got the rebate

Let's be fair here. Hillary's plan is much bolder and more expensive. See?

Clinton: $5,000 for Every U.S. Baby

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I want to keep ALL of my paycheck and eliminate the pyramid scheme known as Social Security (there is no lockbox ). Do you want the same thing? www.fairtax.org

I would say that we would probably use the money to pay off our vacation, or to pay a chunk in the amount we still owe on DH's truck.

That being said, I also agree that it is a bad idea. This government owes so much money in the national debt. Why can't we use the money to pay for that??

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"Yesterday my life was duller, now everything's technicolor!"

I have read all three pages of comments and I agree with most of your sentiments where you question where the money is going to come from. That being said, add me to the paying off debt list. I did my part last year to stimulate the economy - sold and bought a house, bought two new cars, bought two big screen tvs, re-carpeted and a new HE washer and dryer. Most of it we paid cash for (moved from CA to CO) but we had to finance a small amount.

I think Hillary's idea really stinks. Not only would my family not benefit from it, but my tax dollars would go to pay for it, just like all the other programs we don't qualify for, but we have to pay for like: food stamps, medicaid, welfare payments, WIC, free lunch program, the list goes on and on. Plus a program like that will cut down on grants available to low income kids for college, they see oh you have $5000 when you turn 18, they will not qualify for a grant at alot of state schools, because any money a kid has is expected to pay for college before the grant does. Somehow I think it might be an incentive to low income people to have more kids thinking oh, my kids will get this when they turn 18. The welfare/food stamps system was abused like that years ago before there was a limit set, the more kids you had the higher the welfare payment and the more food stamps you got, the government finally set a cap on it. I worked in the system I saw it first hand. At least the current proposed rebates are going to citizens who file taxes. Flame away!

Penny, I'm not going to flame you. I was being facetious w/ my comments to illustrate the fact it isn't limited to just one political party. The system is clearly broken as you indicated in your post. Hillary's plan won't work and President Bush's plan won't work either. Add the fact we don't have the money to pay for either of them.

We'll just have to sit back and wait to see what happens, won't we?

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I want to keep ALL of my paycheck and eliminate the pyramid scheme known as Social Security (there is no lockbox ). Do you want the same thing? www.fairtax.org

The way I understand it, the money will come directly from the taxes we pay. Basically, the federal government will simply be taking $800 less of our money than they would normally take.

If it comes through, ours will go to pay off debt.

I will agree with you I don't think either plan would work either. Bush's plan is too little too late (I think) and Hillary's well, I already posted about that. What would be other ways to stop a recession/depression? Seems as though we should have learned this the first time around?

Something to watch.. Americans deserve to know the truth

YouTube - US_Government_Immorality_Will_Lead_to_Bankruptcy

David M. Walker is the current Comptroller General of the United States, and as such heads the U.S. Government Accountability Office (GAO) and is in effect the USA's chief accountability officer.

Thank You annadrose!! I agree.

I will pay off some bills. If they are going to give me money, then let them do it!.lol

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Don't argue with a fool. The spectators can't tell the difference

If this is true it's even worse than creating a deficit to give us the money. This way means that they will have to make cuts in the areas that would have received thses tax dollars. Hmmm what does that mean? Cuts in jobs and cuts in services.

Either way deficit or from existing tax funds earmarked for other things this is a bad idea.

It amounts to either

Deficit way--it's like using a Visa card with a high interest rate to pay your bills knowing your children & grandchildren will have to pay

Taxes earmarked for other things--it's like buying new clothes with your bill money and then having to cut off your cable, your electricity, and your water because you bought the new clothes with the bill money so now oh well you have to go without thses things.

This is what the govt is doing.

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The political system is broke and it's a joke.