Posted on 02/13/2008 2:53:59 PM PST by BradtotheBone
I would much rather just get a break on my income taxes. If I receive the $600 election-year bribe, I figure that it will pay less than 25% of my property taxes for 2008. Take it out of one pocket, put it into the other, then take it out again to pay a different set of bureaucrats. Looks like lose/lose to me. And, has anybody asked if we have to pay taxes on it next year?
Sorry for multiple posts. my posting page is giving me a “Proxy Server Error” message. sigh...
According to the WSJ, no. The article was in the Personal Finance section today. The IRS plans to post info soon.
Depends on what city you are in. 150k in NYC is definitately middle class. 150k here in NC is pushing the upper class. That said, it’s silly that people paying the most in taxes do not get their fair share of rebate money as well especially since some 30 million people are getting a rebate that paid nothing.
For the majority of those effected (around 90 million), it is a tax cut for 1 year. For a large minority (around 30 million), it is simply re-distribution of wealth. We have 1 socialist party in America—1 branch is just more socialist than the other.
That includes couples which would limit you to 75k each.
The original bill Bush wanted was just a “prebate” 1 year tax cut on the first $8k of income made per person for people who paid taxes. Unfortunately, it was deluted into a rebate for anyone except the upper middle class and the upper class.
If you actually made money, it IS a tax cut. THe “rebate” is really a prebate on a 1 year tax cut on the first $6k ($12k for couples) of income a person/couple makes. If you are elder and retired or made too little to pay federal income taxes, it is just a pure rebate. No you don’t have to pay taxes on it next year as it is a tax cut for people who make money and a ‘free’ rebate to those who don’t.
I was just using your example but yes.
What a bunch of incompetent boobs!
“Stimulate” the economy by handouts. And once again, soak the “rich” by reducing rebates for those making over $75-$150K. Idiots!!
Cut taxes, that’s the only thing that will really stimulate the economy.
Great idea! Who couldn’t use another 1911A1?
Well, my wife wants a divorce, so my half of this Chinese financed rebate WILL come in handy. And I might want to buy a couple cases of nice red wine. Might need that, ya know. ;-)
Unfreaking real.
I will buy another gun with my “rebate”.
Uh...would have saved a ton of money if you’d just let us keep what was OURS in the first place.
Has anyone been able to determine if this is pulling ahead the “refund” for 2007 tax year or is this just a “temporary tax reduction” that will not be tax due in early 2008? For the longest time I was reading that this is a prebate on next years filing, however that terminology seems to have vanished without a word of clarification.
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