Don't get so excited about those rebate checks!

Originally posted by mrwupy

It's not a handout, they are giving back to you some of the money they took out of your paycheck ....

exactly right,
it's not a bonus check created out of nothing

the money, either $300 or $600 per taxpayer or childern...is only an
Advance rebate of the expected taxes you will be paying on 15 April ...


for All the others who have not read the text of H.R. 5140,

Search: [ text, 'stimulus package' H.R. 5140 ]
as the link i read it from:
guywrong.blogspot.com...
is not coming up



the monies are in the Treasury...or are forward forecast to be there
and the HR 5140 specifies that certain sums in the Treasury must remain,
(see the legaleese wording & ammounts, in the document itself)




But, here's the catch !!

the President said he will sign the bill into Law,
but let's all be keenly aware of any 'Signing Statements' he also sneaks in there...
which is about like a King, Queen or Dictator making a Decree, as his signing statements are something like the 'execuitive orders' and neither
are voted on or deliberted by congress or the people. But do become administration & American policy

Originally posted by St Udio

Originally posted by mrwupy

It's not a handout, they are giving back to you some of the money they took out of your paycheck ....

But, here's the catch !!

the President said he will sign the bill into Law,
but let's all be keenly aware of any 'Signing Statements' he also sneaks in there...
which is about like a King, Queen or Dictator making a Decree, as his signing statements are something like the 'execuitive orders' and neither
are voted on or deliberted by congress or the people. But do become administration & American policy

Thanks for bring that up, as we are just a sleep, waiting for the next sleeping pill.

Not only is it only an advance payment on taxes paid next year, but this "Stimulus" package will actually make the economy WEAKER, and cause more problems for those people that do what the government says and spends the "Rebate" (translation advance). Here's why- Let's say you usually fill out your W-4 pretty carefully, so at the end of the year, you don't get any money back, but you don't owe any either. Now let's say, you're a family of 4, file jointly, have 2 children and make $60,000 a year. You'll get $1,800 back this year as an advance on next years' taxes. But unless you change your W-4 THIS year and withhold an extra $1,800 out of your 2008 wages, next year when you file your taxes, you'll OWE the govenment $1,800. Now if you're feeding 4 people on $60,000, I'm sure $1,800 is a lot of money, money you probably don't have. So now you need to take out a loan, assuming you can get one (since banks have drastically tightened their loan criteria), paying around 10% interest.
Still want to spend that rebate. I'd suggest finding a safe, FDIC insured haven for that money, so that you can pay it back next year. Oh, and by the way, if you DON'T modify your W-4 right now, you'll probably also have to pay a PENALTY on that money next year, for UNDERWITHHOLDING.

Remember the thread "I'm from the Government and I'm here to help you"?
Well.......
Have a Nice Day!