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Government giving away free money????


Hardwareman

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Joined
Aug 7, 2007
Messages
991
City
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Vehicle Year
1995
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My friend was telling me last night that families are getting $1200 and an additional $300 per child and it has nothing to do with taxes?

I though it was a tax relief deal.

Doea anyone know more about this? Thanks.




Allen
 
I thought it was my money in the first place.
 
OK, thanks. That's what I thought it was. So basically it's like a tax credit for making a certain amount of money and/or having a family.





Allen
 
so how does this work? I normally get back like a grand each year. As soon as my w2 comes in I efile it and get the money within days. What is this thing there trying to pass gonna do? Is that gonna be taken off next years income season?
 
Under the agreement announced by the White House, Boehner and Pelosi, individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child. In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates.

The rebates would phase out gradually for individuals whose adjusted gross income exceeds $75,000 and for couples with incomes above $150,000. Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit.

Here is a good summary:

http://news.yahoo.com/s/ap/20080125/ap_on_go_co/economy_stimulus_glance_9
 
OK, thanks. That's what I thought it was. So basically it's like a tax credit for making a certain amount of money and/or having a family.





Allen

It's a rebate for not making too much. Make over $75,000 a year ($150,000 for a couple) and you don't get squat.
 
I should qualifiy. Just got my W2 today, I only made $17,238.78 and taxes withheld are $3,539.77 (Fed, State, & Social).

Money from the government. Its a change of direction. And if I do get one, I got a $700 debt to pay towards my mother.
 
money

Where's this free money coming from?

Isn't it ours to begin with, money from the general fund?

It's part of our illustrious presidents stimulus package.:flipoff:
 
it's the government,why ask why.just get it back in the economy as quick as you can!if you don't pay taxes,no problem you get $300 anyway.how com we didn't rebates like this when the economy was real bad,like the 70's.bet this money is being borrowed from overseas.:rolleyes:
 
You probably will not see anything until May, or June. It does not effect your 2008 tax return. It based on your taxable income from 2007
 
the fed is going to finance a duraspark conversion.hell yeah!:clapping::headbang:
 
I'm looking forward to it no matter how I get it for where it came from.
 
We are going to borrow the money from China, so you can go out and buy someting Chinese made. So, it will help the Chinese economy.
 
I'm looking forward to it no matter how I get it for where it came from.

X2, I would love to stick some 285/75-16's on the F-150 and loose the hippo on a roller skate look that 255/70-16's give it, but to do that I need to loose the 3.31 highway flyer gears. I could use new tires by next fall, so this should be a nice little boost in that dept, otherwise it is a pretty big expense without it.
 

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