Economic Stimulus Rebate Check

[LPTaxpayer]

President Bush signed the Economic Stimulus Plan. Taxpayers are supposed to begin receiving the rebate checks in May 2008.

What are your going to do with your rebate? Any plans?


I know, I know...don't spend it before you get it. But, when you get it, what would you like to do with it?

* * * *

I'll probably use it to pay a bill or two, and then buy something I want (but was going to wait to get).


What about you?

[greenrenovator]

Use it for “Made in Michigan Products or Services” or least keep the money in U.S. or Canada!

[Aimee Lee]

That's an easy one, we'll be paying bills of course. Does anyone know how much we are going to get?

[EMUJeff]

It's a formula according to how much you make, how many people are on your return up to four people. Checks will be between $300 and $1,500.
Short term good for the economy is to spend it. Long term good is to save it so theirs something for the banks to lend the government when the national debt goes up.
I'm not saying we shouldn't do the rebate. It's good to see the little and middle income people get something back for once. But it may go to increase the debt if the economy isn't adaquately stimulated by the rebates.
EMUJeff

[Harrison]

Definitely paying bills here---it's not like it's really a LOT of money.

[LPTaxpayer]

Since this package was passed (and Bush signed it), I have heard several reporters (and economic analysts) mention that the payment should be in a form of a debit card...forcing people to spend it in certain manners.

If this is contemplated, I think it is wrong. It will cost most to issues these cards insterad of checks. (Monitoring the balances, and so forth.) Plus...I don't want the government to tell me how/when to spend my money.

[Harrison]

Since this package was passed (and Bush signed it), I have heard several reporters (and economic analysts) mention that the payment should be in a form of a debit card...forcing people to spend it in certain manners.

If this is contemplated, I think it is wrong. It will cost most to issues these cards insterad of checks. (Monitoring the balances, and so forth.) Plus...I don't want the government to tell me how/when to spend my money.


You're not kidding it is wrong! What a waste of money it would be issuing debit cards (as you said, creation of the cards, monitoring balances---and who does that---, etc.) And how dare they try to force anyone into buying stuff rather than paying down bills, which will, in the long run, enable us to purchase merchandise. I, for one, do not appreciate nor will I tolerate someone telling me how to spend my money.

[Cherub]

Pay my bills down and maybe a nice dinner out for the fam

[squishie]

If I ever actually see it (I know always the doubting thomas when it comes to money lol) but If I actually see it I am sure it will be spent on my kids or taking them to do something, like maybe the state fair.

[Harrison]

Squishie,

I totally understand the "doubting Thomas" part. If it comes, it comes, but don't forget that you will have to claim it as income next year. Some are saying that you will not have to do so, but I do not believe that for a second.

[Cherub]

Personally I believe it would be better for the government to keep the money and pay down the national debt.

[Harrison]

I think the government would rather blame US for not stimulating the economy.

[LPTaxpayer]

I think the government would rather blame US for not stimulating the economy.

How true, how true! The government can't look at the practices that even they do as to causing the problems. (Hey, even those guys/gals are making "big money" at the expense of the MIddle Class Taxpayers. How can they know there is a problem...they don't feel it.)

[squishie]

Squishie,

I totally understand the "doubting Thomas" part. If it comes, it comes, but don't forget that you will have to claim it as income next year. Some are saying that you will not have to do so, but I do not believe that for a second.
I agree, you do not get anything for "free", they will get it back from you in one way or another. My opinion for what its worth ;)

[EMUJeff]

I honestly have believe for the last since I was 14 that if the House and Senate members had to live on the per capita income (with a small allowance for a room in DC) they might be a little more attentive to the average Joe and Jane and we might have people who want to serve there instead of those who want to get reelected. The downside is it would just encourage money from lobbyists and under the table cash.
EMUJeff