ONLINE EXCLUSIVE - How will you spend that extra money the goverment is giving you?

The government is giving you some extra money to spend. What will you do with it? Cash rebates for taxpayers are part of an economic aid plan designed to give a $168 billion boost to the lagging economy.
Norwalk Reflector Staff
Jul 25, 2010

The government is giving you some extra money to spend. What will you do with it?

Cash rebates for taxpayers are part of an economic aid plan designed to give a $168 billion boost to the lagging economy.

The legislation, which President Bush plans to sign this week following its quick passage in Congress, would deliver rebates — $600 for individuals, $1,200 for couples — to most taxpayers, plus an additional $300 per child. Individuals making up to $75,000 a year and couples earning up to $150,000 would get the full rebate, with those making more than that or too little to owe taxes getting smaller checks.

People who paid no income taxes but earned at least $3,000 — including through Social Security or veterans' disability benefits — would get a $300 rebate.

Rebate checks should start showing up in mailboxes in May. They would be based on 2007 tax returns, which are due April 15.

Do you think the plan will work? What do you intend to do with that extra money?

Please share your observations by posting comments at the end of this story.

Comments

City guy (Anonymous)

I'm going to Disney World! LOL - I wish!

The extra cash will help us paint a bedroom and make car repairs.

I just hope this doesn't come out of next year's refund...

JEF (Anonymous)

This proposal is horrible and a travesty to good government. The founding forefathers should be rolling over in their graves.

That being said, I'll take it and head to The Office Bar. Come see me and I'll buy you a drink!

Dave Rimmer, Li...

I wish I could come over there, old chap.

My salary is £22,500 per year but by the time tax and national insurance is deducted I pick up £17,00 net or in your money about $34,000.

Maybe the crown will give back some to us, too.

hunior89 (Anonymous)

Yes, people this comes out of you 2009 refund. Bush gave you nothing before and this time it is the same. More hocus-pocus from the worst Pres.in U.S. history.

Expressions (An...

goin to Fitchville... strip club not campground

Re: Expressions...

Do you have a problem with the Camp Ground? Indian Trails is a great place to stay!

I DO (Anonymous)

I don't want a gay campground in Huron County.

I know Indians Trails isn't the one, it's Freedom something or another. Our township trustees need to ban that place before it gets going!!!

Hey INTOLERANT ...

Gettin off topic, eh?

I'm gonna buy Cleveland Indians tickets with my rebate.

Not enough (Ano...

We'll put it in the bank.

GWB (Anonymous)

This is being called "The Splurge."

THIS YEARS??? (...

Is it really based on THIS year's tax returns?

gas guzzler (An...

i might just as well go give all of this money to the Norwalk gas station owners, because they are going to cheat me out of it sooner or later, by overcharging all of us.... when they are charging us 22 cents more per gallon , for each gallon, and figure in all of the customers that they have in a day... they should be giving us rebates as well, if they had any conscience, that is!!!!

me (Anonymous)

This does not come out of next years refunds. You have to claim it on your taxes next year so you can pay taxes on it though.

little white ha...

I wish I could say I would buy a new HD TV or something of that sort but who would benefit from that other than Japan or China? Course then I would have to buy HD from Time Warner to see it right and end up further in the hole with my monthly bills. Oh what a tangled web this could turn into. I guess I just ought to catch up all my utility bills.

homemaker (Anon...

ill be paying bills that racked up cuz i had to put gas in my car to get to work,,,,,thanks Norwalk

CHECK THE FACTS...

money.cnn.com look under personal finance.

rebates:what you need to know

money guzzler (...

i am going to go to all the gas stations in norwalk, and buy milk, newspapers, bread and lottery tickets. then, with what is leftover, i'm holding a raffle, for the norwalk station owners, for all the rest of the money-and i'm going to buy dorothy a new house so she can drop it on swiss family's sister-oh, wait...wrong story. Nevermind.

dreamer (Anonymous)

I'm going to use it to pay my property taxes - $600.00 is about how much they went up last year.

Just to let you...

I am related to Dorothy. I asked her how much she makes on gas. No matter what the price is, she makes only 2 1/2 to 4 cents a gallon. So you can't blame it on her. The prices she charges are what she has to pay. She makes her money on candy and cigarettes....and other misc. items..it's not the gas.

RE; Indian Trai...

is that the gay one or is it freedom fairy (pickle park) LOL>

What's a matta...

I'm going to buy some beer this fall at the fair. Now that our comissioners support beer sales at the fair !!

Let me tell you...

I'm goiog to buy all the

playboys mags, and some hot oil.... and beat my meat.

Randy (Anonymous)

Goin to Willard and buy a sh!tload of HEROIN!!!!!!!

grateful (Anonymous)

I'm going to use the extra money and get caught up on my property taxes. and yes I am grateful for this unplanned money from the government.

babyboomer (Ano...

Pay on credit cards and utilities.

I do like some of the comments late night tv has been making though.

Bill Maher (on Larry King live) said these checks are like the homeless guy asking for spare change and Bush throws him a $5 dollar bill hoping he'll go away!

Another comment was made that instead of sending us checks,why don't Bush just write a check to Wal Mart,cause that's who's gonna get it anyway.

re: Just to let...

the comment was made in reference to the wizard of oz...it was meant for swiss family, she calls me dorothy all the time. but now that I think about it, she only calls me dorothy in a gas related story. do you think...naw, she couldn't be talking of the station owner, could she be??? I didn't think swiss family had any class-maybe that proves it.

RE Money (Anonymous)

I will use the money to keep children safe from predators like this http://www.esorn.ag.state.oh.us/...

Q.E.D. (Anonymous)

The value of the dollar is low, the Fed recently cut the rate 125 bps, the politicos are handing out ‘free’ money and the U.S. and overseas economies appear to be is slowing down.

This is a scenario for future inflation (Too much money chasing few too goods).

If you didn’t live through the 1970s with stagflation (inflation coupled with slow economic growth), you very likely will get an opportunity to experience it. It ain’t pretty.

To QED (Anonymous)

Yep! I lived the 1970's.Natural gas prices shot through the roof!It was so expensive to heat your home,Ohio lost a lot of population due to people going south where living was cheaper and jobs!Remember "tent city" in Texas?Also gasoline prices went sky high,thus the economy car that was easy on gas that is still with us today.The price of groceries went up also.I haven't seen better times until Bill Clinton got into office,took 20 years to get out of that slump.

Baby Boomer (An...

The word "rebate" if you all that lived the 1970's remember became a part of our mainstream from President Gerald Ford. He did the same thing to stimulate the economy. He gave us all "rebate" checks. Needless to say,it didn't work. He didn't get re-elected either.

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