Tax rebates update

[jeremy885]

I guess these will become a reality, but instead of 800-1600 for people who actually pay taxes, it's going to be 300-600 for everyone + 300 a child up to 1200.

IMHO this is a terrible idea, because my personal rebate goes down 1000. I was seriously considering buying a new washer and dryer set with the 1600, but now I'll probably just apply it to debt.

Anybody else po'd about this?

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=Ao4uNy5vOphfQtN8S177P0iGOrgF

[TopDaugIn2000]

I'm just PO'd that I can't claim Lucy and Lit'l Man. :mad:

[soonerhubs]

I'm extremely ****ed because we now have to share our TAX rebate with folks who don't pay taxes. What a load of crap! Pelosi is a tool. So instead of folks like me who pay our taxes getting great deals, other people I know who already mooch off of the Gov't get a killer deal because they decided to become blood sucking baby factories.
Great!



Oh and:mad:

[Curly Bill]

You guys just shut up and keep working, those moochers are depending on us. :P :D

[soonerhubs]

You guys just shut up and keep working, those moochers are depending on us. :P :D
LOL. True that.

[TopDaugIn2000]

word

[LilSooner]

Screw the rebates just lower my taxes dammit. I don't care about a one time rebate. I don't like giving 40% of my paycheck to the gubermint. :(

[VeeJay]

I'm all for raising the federal tax rate on the middle class to 42%.

I do hope Mrs. Clinton gets elected president.

[TopDaugIn2000]

again, I'd have money if I didn't have to pay taxes

[Mjcpr]

Quit whining, you had $1,600 to **** away on an overpriced mattress so you must be doing a'ight.

:D

[TopDaugIn2000]

:P

[Hamhock]

ron paul for president

[1stTimeCaller]

This is in addition to the free money they give me each year?

[KABOOKIE]

This is in addition to the free money they give me each year?


Yes. You'll be able to buy rims for your ride this year and maybe find a job.

[frankensooner]

Dang, having 3 kids finally paid off! ;)

[1stTimeCaller]

Yes. You'll be able to buy rims for your ride this year and maybe find a job.

Why would I get ta job? The taxpayers just bought me some rims, what else do I need?

[jeremy885]

updated

600 individual 1200 married with 300 per kid.

Checks in June?

[Chuck Bao]

I'm going to get my newfound $300 dollars out of the US as fast as possible with the sinking ship and inflation and all.

[KABOOKIE]

Why would I get ta job? The taxpayers just bought me some rims, what else do I need?

Some gold teef?

[1stTimeCaller]

next year

[OUDoc]

Yes. You'll be able to buy rims for your ride this year and maybe find a job.
He's hoping for a rim job. Best of both worlds to him.

[TopDaugIn2000]

He's hoping for a rim job.
:eek: :eek: :eek:

[r5TPsooner]

$1200. I wonder when they cut the checks?

[Hamhock]

He's hoping for a rim job. Best of both worlds to him.


i assume this isn't safe to google?

[jeremy885]

last article I read was June. Seems a little slow for a "quick" stimulus

[NormanPride]

That's light speed for the government.

[sooner_born_1960]

1200 married + 2 kids. Maybe I'll get rims too.

[1stTimeCaller]

If you're married, I doubt that you get a rim job...

;)

[r5TPsooner]

I paid bills today and doing some filing as well. Just for kicks I looked at last month's pay stub just to see what the tax man takes out per month.... $3400 a month is a **** load of money to NOT be taking home every payday!

[TopDaugIn2000]

holy ****, I thought mine was bad

[1stTimeCaller]

you could always takea pay cut if you don't want to pay the gubmint their $3400 each month. :D

[picasso]

yeah, I doubt the rebate will boost spending. Most folks will use the extra cash towards debt but then again if your debt is paid then you might start spending again.

hmmm...

[Hamhock]

yeah, I doubt the rebate will boost spending. Most folks will use the extra cash towards debt but then again if your debt is paid then you might start spending again.

hmmm...


i totally disagree with this statement.

if the Joe Taxpayer spent disposable income on paying down debt, this country wouldn't be in the personal debt/savings situation it is in.

I think the more likely scenario is that people are going to use the $1,200 as a down payment on a new shiny thing with accompanying monthly payments.

while I applaud you for using it to pay down debt, I think you are the exception, not the norm.

[Mjcpr]

while I applaud you for using it to pay down debt, I think you are the exception, not the norm.

I don't think he even posts here anymore.

[picasso]

very good point. I guess I missed the memo on spending money I don't have.:D

[sooner_born_1960]

These checks aught to be arriving about the time Dean is looking for tailgate sponsors, just saying.

[Hamhock]

very good point. I guess I missed the memo on spending money I don't have.:D


and your kids will thank you for that.

[sooner_born_1960]

The rebates would be limited to individuals whose income is $75,000 or less and working couples with incomes $150,000 or less.
Don't all of you count your money too soon.

[Hamhock]

now, is someone gonna splain rimjob? PG version, please.

[frankensooner]

now, is someone gonna splain rimjob? PG version, please.
This is a family board, well a dysfunctional family, but a family nonetheless. Check your reputation and you will find what you seek. yw.

[Hamhock]

This is a family board, well a disfunctional family, but a family nonetheless. Check your reputation and you will find what you seek. yw.

wow. can you retract reputation? 'cause you can have it back.

[walkoffsooner]

Put the 300 per. kid in a college fund. Pay down future debt.

[jeremy885]

now, is someone gonna splain rimjob? PG's version, please.


You'll have to ask her yourself.

[1stTimeCaller]

The rebates would be limited to individuals whose income is $75,000 or less and working couples with incomes $150,000 or less.

well f**k me running. Looks like the folks that pay the most will get nothing back.

[jeremy885]

well f**k me running. Looks like the folks that pay the most will get nothing back.

heh. This is the only good part about being married to someone who doesn't work.

[r5TPsooner]

well f**k me running. Looks like the folks that pay the most will get nothing back.


Welcome to the club. We pay the most taxes and get jacksh*t in return.

Fukk the gubernment!

[yermom]

now, is someone gonna splain rimjob? PG version, please.

i'd really like to hear the PG version

[jeremy885]

Welcome to the club. We pay the most taxes and get jacksh*t in return.

Fukk the gubernment!

Have mdklatt explain this to you.

[Curly Bill]

well f**k me running. Looks like the folks that pay the most will get nothing back.

You did already know this is the way things work right? ;)

[1stTimeCaller]

I'm new to this tax bracket. :(

[Hamhock]

the government has developed a vocabulary problem.

they seem to use the word rebate or refund when they really mean handout.

[Curly Bill]

the government has developed a vocabulary problem.

they seem to use the word rebate or refund when they really mean handout.

Would you rather hurt the poor people's feelings by calling it a handout? ;)

[Mjcpr]

Clearly, nobody here needs the handout/refund/rebate. :D

[yermom]

Welcome to the club. We pay the most taxes and get jacksh*t in return.

Fukk the gubernment!

it's not like you'd really notice an extra $600, Bruce

[royalfan5]

the government has developed a vocabulary problem.

they seem to use the word rebate or refund when they really mean paycheck advance loan from the Chinese and Arabs.
fixed.

[1stTimeCaller]

and I wouldn't say that 75,000/person/year is poor. by any stretch.

[OUAndy1807]

so, if one person makes more than $75,000, but the combined income is less that $150,000, can a couple still get $1200?

[1stTimeCaller]

if you file as a married couple. As I understand it.

[OUAndy1807]

I talked to your boy again today and he said you come from a good family. I corrected him.

[1stTimeCaller]

thanks, don't let anybody run their mouth about me and my clan!!

[TopDaugIn2000]

It'll go straight into my kitchen remodel fund, which is my next big house project.

[1stTimeCaller]

I really don't mind that much. I'd rather everyone or noone get the refund thingy but I don't mind how much I pay in taxes. It costs a lot of money to mismanage our government.

[TopDaugIn2000]

but shouldn't the refund really be based on how much you pay in???? Kinda seems a little out of whack that someone making $12,000 a year would get the same "refund" as someone making $74,999 a year.

[Ike]

but shouldn't the refund really be based on how much you pay in???? Kinda seems a little out of whack that someone making $12,000 a year would get the same "refund" as someone making $74,999 a year.

That would require our congresscritters and folks in the White House to do some complicated math before getting a stimulus package passed. Maybe even some long division. There's no way they'd get all that done in time to pass a meaningful stimulus package (assuming that there is such a thing as a meaningful stimulus package).

As for me, It's all going into the rainy day fund.

Or maybe if they send it to me in singles, I can make life a little easier for a few strippers.

Oh, and the reason someone making $12,000 gets the same refund as someone making $74,999, is that the purpose of this thing isn't to be fair at all. Its to give people money to pump into the economy. The guy making 12 grand is going to blow the entire refund in a week, thus doing his part towards accomplishing Warshingtons goal. The guy making 74,999...he might save the money rather than blowing it all at once, which obviously means that he doesn't deserve as much of a refund/handout because he is going to be less helpful. So they make it the same for them figuring that the guy making 75 grand will figure it's some petty cash to maybe buy his kid a Wii and some games, while the guy making 12 grand will probably have to blow it all making repairs to his car that should have been made 17 years ago. Either that, or on more booze.

[Hamhock]

but shouldn't the refund really be based on how much you pay in???? Kinda seems a little out of whack that someone making $12,000 a year would get the same "refund" as someone making $74,999 a year.


don't fool yourself. the guy making $12,000/year has as many votes as the guy making $75,000/year.

they're buying votes.


ron paul for president

[sooner_born_1960]

The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children.
It gets a little more complicated.

[frankensooner]

Seriously, if this wasn't an election year, would we be getting this "stimulus" package. We would just ride out the recession.

[jeremy885]

We got one after 9/11 and 2001 wasn't an election year. The economy is also in worse shape now then it was back then too.

[Harry Beanbag]

I paid bills today and doing some filing as well. Just for kicks I looked at last month's pay stub just to see what the tax man takes out per month.... $3400 a month is a **** load of money to NOT be taking home every payday!


Bruce?

[Sooner_Bob]

1200 married + 2 kids. Maybe I'll get rims too.

Hmmmm . . . same here.

[soonerinabilene]

Welcome to the club. We pay the most taxes and get jacksh*t in return.

Fukk the gubernment!

I really, really wish I had to deal with this problem.

[KABOOKIE]

I really, really wish I had to deal with this problem.


Get a job.

[Chuck Bao]

I find it a bit strange that higher income tax bracket folks were all over the idea of permanent tax cuts and their trickle down economics. Now, the idea of giving a flat tax rebate back to the people who will spend it - the lower tax brackets - is all wrong. Economics is a two-edged sword, so to speak, in a non-partisan way, theoretically speaking, I have no clue what I'm talking about.

[Scott D]

well f**k me running. Looks like the folks that pay the most will get nothing back.

look at the bright side, those people who get nothing back won't get essentially a bill from the government in a year taking it back ;)

[jeremy885]

I find it a bit strange that higher income tax bracket folks were all over the idea of permanent tax cuts and their trickle down economics. Now, the idea of giving a flat tax rebate back to the people who will spend it - the lower tax brackets - is all wrong. Economics is a two-edged sword, so to speak, in a non-partisan way, theoretically speaking, I have no clue what I'm talking about.


I think it's more you didn't pay into it, so why should you get money back?

[IB4OU2]

I'm buying scratchers with mine.

[soonerhubs]

Season tickets for us poor W.T. college kids... YAY!!!!!!!!!!!

That's reinvesting locally right?

[Hamhock]

I find it a bit strange that higher income tax bracket folks were all over the idea of permanent tax cuts and their trickle down economics. Now, the idea of giving a flat tax rebate back to the people who will spend it - the lower tax brackets - is all wrong. Economics is a two-edged sword, so to speak, in a non-partisan way, theoretically speaking, I have no clue what I'm talking about.


see, here's the deal. if you didn't pay taxes in the first place, it ain't a rebate.

I've got no problem with an across the board REbate or REfund to the people who paid the taxes.

[Mjcpr]

Why do you hate NOLA?

[Hamhock]

Why do you hate NOLA?


REtard

[1stTimeCaller]

my dog's name is NALA and I lub her. Who's this NOLA?

[r5TPsooner]

Too bad they don't give the rebate/handout in a % of taxes that one pays yearly.

It does look like my kids might finally be of some use.

[jeremy885]

Why do you hate NOLA?


Because fixing the Super Dome is more important than fixing fire stations.

http://www.cnn.com/2008/US/01/24/nola.firehouses/index.html

[IB4OU2]

my dog's name is NALA and I lub her. Who's this NOLA?

What kind of dog lub do ya use?

[Chuck Bao]

Hey, don't argue with me. Argue with the economists.

Besides, you're just jealous that I'm taking my "rebate" from the taxes I never paid and putting it in my dinar bank account in the Bahamas. ;)

[1stTimeCaller]

Peter Pan, smooth.

[Stoop Dawg]

Oh, and the reason someone making $12,000 gets the same refund as someone making $74,999, is that the purpose of this thing isn't to be fair at all. Its to give people money to pump into the economy. The guy making 12 grand is going to blow the entire refund in a week, thus doing his part towards accomplishing Warshingtons goal.


<LiberalRant>

This is an outrage!! The govt is going to give these poor people some money and when they go spend it (we know they will) it will go right back into the pockets of the RICH people!! When John Q Public spends his $300 on crappy, low-quality goods at "the Wal-Marts" his $300 goes right back to a multi-billion dollar corporation (except the taxes, which of course go right back to the government)! It's like the government is just GIVING MONEY TO BIG BUSINESS!

</LiberalRant>

[NormanPride]

Congressperson's thinking process:

1. Economy is ****ting itself. Do something!
2. People say consumers drive our economy. Some of them are smart. All of them are smarter than me.
3. Let's give the American consumer some money! That would have to be out of the taxes they paid, though... Oh well.
4. It would be fair to use a percentage. So Joe Bob Grindle of Arkansas gets $.55 and Bill gates gets $85M.
5. Wait. That totals to... That's a lot of money.
6. Rich people won't spend it anyway. I know I'd just throw it in Princess's trust fund.
7. Plus, Joe Bob would spend it all on Ding Dongs and strippers, right?
8. Flat amount it is. For poor people. That way Joe Bob gets his strippers.
9. But I want strippers too...
10. Okay, a little for the rich folks as well.

Sounds logical to me.

[Chuck Bao]

Any politician that says "strippers for all" gets my vote.

I'd even go along with the stripper vote, or poll dancers' caucas.

Freeing prositution would be the quickest way out of this problem. Let them do their business and tax'em.

And, it would be just too bad that the rebate wouldn't apply to them.

[toast]

And, it would be just too bad that the rebate wouldn't apply to them.

oh I'm pretty sure that a lot of the rebate will be applied to them

[picasso]

I heard on the radio today that Nixon tried this(rebate) back in the day and it was worthless.
Also heard this is the longest run without a recession since WWII.

[Chuck Bao]

USA! USA! USA!

Prostitution made in the good ole USA!

[SoonerBBall]

I find it a bit strange that higher income tax bracket folks were all over the idea of permanent tax cuts and their trickle down economics. Now, the idea of giving a flat tax rebate back to the people who will spend it - the lower tax brackets - is all wrong. Economics is a two-edged sword, so to speak, in a non-partisan way, theoretically speaking, I have no clue what I'm talking about.

You do realize everything is a double-edged sword, right? For any choice or action there is something that you have to forgo.

In fact....even a single-edged sword is a double-edged sword, because one side is sharp, but the other side is dull...

[1stTimeCaller]

are you saying that I'm the dull edge of the sword?

that's not nice.

;)

[Harry Beanbag]

i'd really like to hear the PG version


Don't mean pg version?


<ducks>

[Chuck Bao]

are you saying that I'm the dull edge of the sword?

that's not nice.

;)

You can take the pointy end. No, I insist that you take the pointy end of this debate.

[Harry Beanbag]

You can take the pointy end. No, I insist that you take the pointy end of this debate.


That's his preferred position.

[tulsaoilerfan]

I will gladly take my 1500 and not bitch about it(if i understand how this works that is)

[Sooner_Havok]

Well, guess OU gets $600 more from me in June.

[Ike]

<LiberalRant>

This is an outrage!! The govt is going to give these poor people some money and when they go spend it (we know they will) it will go right back into the pockets of the RICH people!! When John Q Public spends his $300 on crappy, low-quality goods at "the Wal-Marts" his $300 goes right back to a multi-billion dollar corporation (except the taxes, which of course go right back to the government)! It's like the government is just GIVING MONEY TO BIG BUSINESS!

</LiberalRant>


Heh. I'm sure they'd give the money straight to big business if they thought they could do so and not look like a bunch of insensitive pricks during an election year.

[soonerinabilene]

So when am I supposed to expect you rich people's money in my mailbox?

[Hamhock]

Heh. I'm sure they'd give the money straight to big business if they thought they could do so and not look like a bunch of insensitive pricks during an election year.


so, what does "big business" do with the money?

serious question.

[TopDaugIn2000]

build more plants in china

[Hamhock]

build more plants in china


those bastages. we should just shut them all down.

[OUDoc]

Every year you make hardworking Joes like my reporter friend pay income taxes. And for what? Aid to ungrateful foreigners, do-nothing nuclear missiles, tomb polish for some unknown soldier.

[Stoop Dawg]

build more plants in china

Why would a business build a plant in China?

serious question.

[1stTimeCaller]

isn't it cheaper to build stuff in China and pay tariffs to sell it here than it is to make the stuff here?

[r5TPsooner]

If my calculations are correct I should receive enough for three happy meals for the kids.

All is well in the world.

[Scott D]

Why would a business build a plant in China?

serious question.

More workers, lower wages, less governmental intrusion upon working conditions, less cost in regards to safety.

Which of course in turn allows them to maintain current prices on their product, or make a marginal increase in price which would potentially double profit margin.

[Hamhock]

More workers, lower wages, less governmental intrusion upon working conditions, less cost in regards to safety.

Which of course in turn allows them to maintain current prices on their product, or make a marginal increase in price which would potentially double profit margin.


and what happens to that profit?

[Scott D]

and what happens to that profit?

If I had to guess, roughly 30% goes back into the company, and at least 40% goes into the pockets of shareholders. Giving 30% to be potentially invested in our country.

[1stTimeCaller]

it's used to build another plant in China or the owner buys ski chalet in the Swiss Alps. ;)

[Vaevictis]

Why would a business build a plant in China?

serious question.

There are all kinds of reasons you might want to build a plant in China; not all of them are export. There's a whole hell of a lot of construction going on in China, and the standard of living is getting raised very rapidly in a lot of places.

There's a lot of money to be made servicing the construction, providing trinkets to the new middle class, and above all, providing energy for all of the above.


If I had to guess, roughly 30% goes back into the company, and at least 40% goes into the pockets of shareholders. Giving 30% to be potentially invested in our country.

Actually, depending on how they intend to reinvest that money, there's a goodly chance that the earnings will never make it back stateside. It's possible to set it up so that almost all of the savings stay off-shore (to avoid taxes).

[85Sooner]

Anyone know where I can get a sub prime loan. I now gots the down payment.;)

[85Sooner]

More workers, lower wages, less governmental intrusion upon working conditions, less cost in regards to safety.

Which of course in turn allows them to maintain current prices on their product, or make a marginal increase in price which would potentially double profit margin.

And ultimately Less Taxes