Tax Rebates???

[MochaMel]

I read an article in the newspaper yesterday that Bush and ? are in talks about a possible rebate for us -- to keep us spending b/c of a possible recession..

Anyone know how this works and if it will/or has passed.. I admit i don't really know much other then what i read and am not super knowledgable in this type of thing.. BUT i do like the idea of a bit of extra cash free and clear sometime this year.. :)

Thanks in advance!
Mel

[LoudRam]

That thread is here.
http://rr-bb.com/showthread.php?t=31235

[SnoDog]

I also like the idea. Put a little cash into the hands of the poeple who really need it. Maybe it will keep us out of recession, since consumer spending is 70% of our economy. I realize not everyone is going to spend it but a good many will.

[NO1UNO]

Yea nice to have the money but are we going to pay tax on the FREE cash also? If so then then will get some of it back.... Plus the taxes that we have to pay for what we buy and if we save it then we will have to pay tax and if they say so then we will have to declare it as income and pay tax on it again...

I guess it never stops......:idunno

[MochaMel]

Back in 2000?? We got these but it was like $600 i thought per person or something.. I don't remember paying taxes on it.. :idunno

I know we could use it and would definitely spend it.. Probably not at the mall though -- on bills! :lol2

[Foamball]

Everyone can get it, or only per household? :idunno

If I get it, I will use it to pay college for classes.

[MochaMel]

It said in newspaper article that those individuals making $85,000 or less could get it.. OR as a couple who made $110,000 or less per year.

[Foamball]

It said in newspaper article that those individuals making $85,000 or less could get it.. OR as a couple who made $110,000 or less per year.
Thank you for quick answer! :thumb

[heybales219]

I wonder if we already owe the IRS if we're still eligible? :heh

[Brother's Keeper]

I also heard that individuals making $85,000 or less and couples making $110,000 or less would get it and it struck me as wrong that you could have two unmarried people living together each making $85,000 or less, potentially $170,000 combined, and both would get the tax rebate, while the married couple making $110,001 gets nothing. Talk about your marriage penalty!