Tax rebate. How will you spend it? (Merged threads)

[v35]

What about those who anticipated getting $600 and spent it already?

Those people are already in debt and another couple of hundred dollars won't make must of a difference to them

Precisely my point.

They learned an important lesson about spending money they don't have hopefully.

Congress hasn't learned in oh, forty or fifty years now. I'm not holding my breath.

 

[armoredman]

If Congress gives me some of my money back, I will get my son a new bed, new glasses, more powder, primers, bullets, and some Eagle Secret Service grips for my Smith Model 10-8. If they don't give me back some of my moey, I'll still get most of this, minus the grips.

 

[gym]

Already spent it

 

[XDKingslayer]

I am seriously thinking about getting a Taurus 1911 and another Springfield XD, this time in .45 ACP.

It's either that or an AR. I simply can't decide.

 

[Richard.Howe]

I guess I don't qualify to be part of the market stimulus revolution...but I'm still likely going to jump on a DSA FAL just to be part of the celebration.

 

[smullen]

The wife and I are planning on using ours for an extra C.C. Payment...

We are trying our hardest to get all our C.C.s paid off...

Thats why I'm holding off buying a scope for my new 700 SPSV... I can't afford to pay cash for it, so I'll wait....

Only using them for emergencys, like the 350.00 drain clean out last night...

 

[Foosinho]

I'm single and my adjusted gross income is just enough I probably won't get anything, but being single, my tax rate is so high that I don't get to keep as much of my income as a lot folks who will get something.

You don't know how good you've got it, brother. I pay 100% of my income to my wife.

If this goes thru, my check is paying down debt.

 

[MaterDei]

Like El Tejon, I won't be getting anything either. This is a wealth redistribution scheme, nothing more.

 

[Hot brass]

Mine will go to pay taxes.

 

[ReadyontheRight]

Beer, cigarettes, Chinese toys.

To create a rock-solid US economy, of course.

 

[jackstinson]

I'm getting the whole $1,200.

It's already gone down to $1,000 .
IF (a big IF) this goes through, I'll just put it into savings to pay for the tax increase next year to cover this "Prebate". Yes, the national news channels were calling it a "Prebate" last night....as in "you get it now and pay it back next year". Remember the "no free lunch" concept?
I actually don't want it! The gov's just going to borrow it or pull it from somewhere else that we'll end up paying for somehow. We'll see how this fiasco pans out. By the time any PreBate checks actually get into your hands, the recession will be in full swing anyway most likely.
Jack

 

[WayneConrad]

It's coming out of our own pockets. We'll pay for it, and then some, in interest. I'm socking it away in savings.

The words I have for this ruinious national financial behavior, I cannot say here.

 

[Eightball]

It'll be about $20 by the time the Dem's get done with it.

I think I'll buy myself lunch.

 

[sacp81170a]

It'll be about $20 by the time the Dem's get done with it. I think I'll buy myself lunch.

If it's $20, it sure won't buy a tank of gas!

ETA:

Just wondering if they're gonna have to get another loan from China to pay for this? :banghead::banghead:

 

[MRIman]

Any $$ will be spent on ammo,5.45x39.
One of the last "cheap" surp rounds around.
What else can you get for @ 11 cents a round??

MRI

 

[RNB65]

Spend what? The rebate we were supposed to get before the politicians got hold of it and buggered up the entire idea which resulted in it going down the drain altogether?

I'll believe it when I see it.
.

 

[Autolycus]

Glad the .gov has their eyes on the ball. I dont know what I will use it for but I assure you it will be something useful for a SHTF situation since I am expecting a huge economic collapse sooner than later.

 

[The Deer Hunter]

Is this part of the stimulus package?

 

[jrou111]

So the government is trying to convince us that their money is actually worth anything.

 

[ServiceSoon]

I was planning on buying a new car in 2008, but after seeing the world GDP guestimations and now realizing even the gov is freaking (I mean how often does the gov return money to its citizens) out about a recession I will be banking this money.

Great plan gov. Now the economy will be stimulated for 1 week; then what are you going to do when the $500 is gone? If giving money back to people stimulates the economy why not just lower taxes?

Like El Tejon, I won't be getting anything either. This is a wealth redistribution scheme, nothing more.

I somewhat agree with you two. YOu can't make a decision on this because you have an interest in the outcome. (nemo judex in sua causa) The trick is to get the people who don't have a vested interest in the outcome to agree with you. El T should know that

I somewhat agree with you two because I think it is crap that somebody should receive more money if they have children or receive any money if they didn't pay into the system to begin with. But I don't qualify for either benefit... People with children pay less in taxes to begin with and now they receive a larger rebate.

So the government is trying to convince us that their money is actually worth anything.

+1 All this will do is continue to devalue the/our US currency.

With the .gov only getting out about $.55 on the dollar they take in, that $600 "rebate" really cost somebody who paid taxes about $1100.

A better way to do this would be not to collect the withholding from a few pay days and let the people keep their money.

Very good point. I hadn't thought of that yet.

 

[Gordon Fink]

Whether it’s $400 or $500 or even $600, it’s still just a blip, less than the withholding from my regular paycheck. Assuming I get anything, I will scarcely notice it … until I have to report it on the next year’s tax return.

~G. Fink

 

[Cliff47]

While it would be "un-American" to refuse any form of dollars from our favorite Uncle (Sam, that is), I figure that I would find something on my acquisition list that would fit into the amount provided (as of this writing, the Senate and House have not come to a confusion as to the amount, sliding scale, timetable or method of transfer of funds). The rest I figure will be spent frivilously on spiritous distilli, loose women and off-key harmonizing.

 

[TexasRifleman]

He's not giving me a dime, you guys enjoy.....

 

[Soybomb]

This is a wealth redistribution scheme, nothing more.

Was that ever in doubt? Isn't "economic stimulus package of tax rebates" just the polite way to say "we want to give money to people we're pretty sure will blow it?"

 

[CJ]

Don't forget that this will show up on your taxes next year. Can't remember how it worked last time...was the total just deducted from your refund (or added on what you owe), or did you just have to report it as income?