NOVADCA, Bernanke wasn’t arguing for this “stimulus” package–he was arguing for A stimulus package. Nancy Pelosi and her gang of thieves demanded–and won in a compromise–that non-tax payers get a TAX refund. That’s absurd the the nth degree. The wealthy are the ones who create jobs–not those who don’t earn enough to pay taxes. That’s already been proven by overwhelming evidence.
Well, the poor people are those most likely to spend the money right away as opposed to saving it for a rainy day. Not that I like it. kkent, I don’t even think about the tax system/entitlements anymore because the more I think about it, the more peeved I get. I choose to drown my sorrows about the inequities in booze and denial. You should try it.
cfa2grunt Wrote: ------------------------------------------------------- > Well, the poor people are those most likely to > spend the money right away as opposed to saving it > for a rainy day. > > Not that I like it. > And then they wonder why they are poor
cfa2grunt, the “wealthy” also includes small and large business and corporations who spend the money many times more effectively than a non-tax paying wage earners. The problem with recession isn’t necessarily a lack of demand–it’s also an excess of inventory. Giving money to people who didn’t earn it so they can buy more Cheez-its at Safeway is not the optimum way of stimulating the economy, although it’s better than nothing. All this is a politically correct Democrat idiot-fest.
But it’s not really a “tax rebate”… isn’t that why they are making it a point to call it a stimulus package? Regardless of what it is, I hope they do include the seniors because the Senate proposal will rid of the income cap which excludes probably a lot of us on this forum.
Again, kkent, I suggest booze.
First of all, I may not qualify for the tax rebate. If I read the WSJ correctly, household with $174,000 adjusted (taxable) gross income and childless are not eligible for any rebates. That sucks! I paid so much taxes… It feels even more unfair to learn that people didn’t pay taxes get rebates too. Rebate for what? Something they didn’t contribute at the first place? That said, I had to put on my economics hat and agree that a quick and targeted stimulus plan (largely in form of tax rebate) is needed now and is good for the overall economy. At the end of the day, I’d rather be the guy that has to pay a lot of taxes than the guy doesn’t earn enough to pay any tax. Alpha
How is eligibility determined - is it based on whether you filed taxes in 2007 (for 2006 income), or whether you earned income in 2007? I was in school and didn’t work in 2006 so didn’t file in 2007, but I started working in 2007…so will I get the rebate?
Well, as I said in a post that got deleted (too politically sensitive maybe?). When talking about “other” countries, we call the government handing out money to get support “clientelism” or “patronage.” Here we call it a “tax refund.”
drs Wrote: ------------------------------------------------------- > We all have our weaknesses bchadwick… I guess > mine is lack of compassion/sympathy for the old > folk. I predict that will gradually change as I > get older, finally peaking when I reach senior > citizen age and demand a Canadian like health care > system. why wait, you can get hit by a bus tommorrow and never be able to work again, then you’ll be the indigent getting the tax rebate you didn’t earn. It only takes a split second for you to be fucked for life and have to rely on others for help.
kkent Wrote: ------------------------------------------------------- > chad, if I’m not mistaken, a large number of > non-tax payers will be getting a tax rebate. IF > this is true, then it’s an outrage. It would be > nothing more than re-distribution of wealth. It > iss-pes (pig latin) me off even more that I work > so hard and so long for such a small amount of > money (think 10% of $400k, maybe 12.5% if I’m > lucky), and yet the gov’t STILL takes 30 percent > of everything I make. THIRTY PERCENT! For what? So > that people who don’t earn it can cost my nation > $50 to $100 trillion in unfunded entitlement > liabilities. and you dont get worked up over the 4 billion a month wasted on a needless war? or the fact your government spends double per capita on those healthcare entitlements then ever other rich nation and still can’t cover all the citizens, its more a problem of miss management then people asking too much of their government.
luke, if you earned over $3k in 2007, you will get between $300 and $600, provided you didn’t have adjusted gross income over $75K. You’ll get the full $600 if you earned over $6K. This has nothing to do with 2006. Only what you earned in 2007.
kkent Wrote: Giving money to people who > didn’t earn it so they can buy more Cheez-its at > Safeway is not the optimum way of stimulating the > economy, Oooohhhmmmmm…Cheeeez - itssss arghhhhhhh(think Homer drooling). Sorry I haven’t had lunch yet and I am starving.
cfa2grunt Wrote: ------------------------------------------------------- > luke, if you earned over $3k in 2007, you will get > between $300 and $600, provided you didn’t have > adjusted gross income over $75K. You’ll get the > full $600 if you earned over $6K. This has > nothing to do with 2006. Only what you earned in > 2007. cool - and when will we receive our rebates?
Starting in May I hear.
ok, gotcha…that’s what i’d seen too yes luke77 i got your msg on WSO, sorry i have not written back yet, been really busy. i’ll try to write back tonight.
cfa2grunt Wrote: ------------------------------------------------------- > luke, if you earned over $3k in 2007, you will get > between $300 and $600, provided you didn’t have > adjusted gross income over $75K. You’ll get the > full $600 if you earned over $6K. This has > nothing to do with 2006. Only what you earned in > 2007. thanks cfa2grunt
Mr.Good.Guy Wrote: ------------------------------------------------------- > cfa2grunt Wrote: > -------------------------------------------------- > ----- > > Well, the poor people are those most likely to > > spend the money right away as opposed to saving > it > > for a rainy day. > > > > Not that I like it. > > > > > > And then they wonder why they are poor Too True!