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

about time (Ano...

about time the goverment gave us something. Now how about more jobs

re:re: Just to ...

You might be right about that.

owner

Look I used to manage a gas station, When the tanker delivered I paid with a check, ie the gas in the tank has been paid for , 2 hours latter every one hears on the news that oil is up $$ a barrel and they raise their prices, lets say I"am sitting on 75% of my three tanks say 22000 gal of fuel, yesterday it was 277.9 now I raise it to 299.9 my profit for that fuel is base on .22 X 22000 gal of fuel, just shy of 5K, about 3 days of fuel. not bad, now fig. over head ie labor, electric, heating/cooling, property taxes, my profit for three days is still above 3K.

bigjoe

Let's start riding bicycles! It would solve the obesity problem and the gas gouging.

Dave Rimmer, Li...

Why did you chose to use my name in the post at 1.59 yesterday, please use your own name if you have a point to make or dont you have the guts. In fact what is your point in quoting my text from a previous post.

I certainly wouldnt mind a tax rebate from the British Government but to me it would just be giving with one hand and taking back with the other, as a large proportion of it would go back to them in other forms of taxation.

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TTFN

better to bike ...

Yeah!

Clemons

In my opinion the rebates would not make a GREAT big difference to people who make $75000 or more. Why doesn't the great Pres make the limit lower and give more of a rebate to the people who really need it.

JD's picture
JD

As I go thought all the blogs I keep seeing Pres Bush. I just got to say!

This rebate is both sides not the Dems or GOPs but both do not blame one or the other. Blame both!

And say what you want it did help the econ. the last time I just hope it does again.

cls77

I don't care where it comes from I am getting myself a new washer and dryer mine is over 30 years old and does not have much life left. THANK YOU very much.

Matt Sherman fa...

I'm going to get a lawyer and sue the crybaby who keeps posting the link to the predators site at http://www.esorn.ag.state.oh.us/...

And then I'll fly out to visit Dave Rimmer in the UK!

mandamarie2182

I can't wait until I get my rebate check, but it's going to go towards paying off credit cards, car payments, insurance, etc, not on something new which would help the economy. I guess in turn by paying off some debt now would spur more purchasing later on, but not right now. Maybe for some, maybe not, I guess we'll have to see once the check is "in hand" and people get excited and blow it on something random or put it on some purchase they've been holding off on. Also, I agree that the returns should be nearly the same for individuals not making as much throughout the year. Myself earning shy of $20,000 a year as a college student would really love the full amount, but I can't seem to find out what exactly I'll be receiving. Whatever I do receive though has pretty much already been spent, just like my income tax return. Another thing to question is, will the rebate be taxable for next year if it is considered income. If so, that'd be like the government taking back part of the rebate. All in all, it's a good idea, and I am hopeful that some people will spend it on new purchases to help the economy... we need SOMETHING!

Deer Dave,

DaveR.! Good to see (?) you! I'm back now- glad to see the Reflector followed through on their word. I've decided to spend my 'rebate' check...well, let me rephrase that... we've decided, on a new bedspread and some kind of Egyptian sheets that cost waaaaay more then they should, but who am I to argue? I just do what I'm told- things tend to run smoothly that way...lol. Cold over there in the U.K. DaveR.? Bone chilling over here!

TTFN~

swiss family

to "Deer Dave" There is a name for guys like you , well actually there are quite a few names for guys like you that let there wivws or signifacant partners make all of the decisions in the household.. but i don't think i have to spell them out on here, being a public source, i'm sure that someone would be offended, and that is not my intention...but for goodness sakes man.. get a backbone, and stand up for yourself.. or can you only do that when you can come on here and spout off without identifying yourself.. but boy are you obedient when your "other" tells you what to do...

you are a disgrace to men everywhere.. and it is because of guys like you that most women think that they can change a guy, and not only remove his brain, but his spine as well, once they trap him into marrying them...grow up... try being a man for once.. but first ask your wife if you can....

Dave Rimmer, Li...

Hi Dave....great to have you back....know what you mean about "her indoors" I cant be doing with the ear ache I get from the whinging woman in my life so like most women (for the same reason) tend to get their own way. I have tried being a man as one contributor puts it, but that only leads to even more ear ache, so I like you, have had my brain and spine removed and am a disgrace to men everywhere. I think put up with it coz I dearly love the bloody woman. Anyhow, enough of womem problems, Weather her has been beautiful the past few days. For this time of the year it is very unusual to not have a cloud in the sky for so many day on the trot. Today has been 15c but it has gone to about 0c tonight as ther are no clouds about to keep the warm air in. Normally only get the motorcycle out in the summer but Saturday was such a lovely day out she came for the first time simce September. See you have had snow,parts of the UK have had a little but none at all in Liverpool. Having said that, if we do get any snow at all the country comes to a standstill, most drivers over here have not a bloody clue how to drive in those conditions and we end up in total chaos.

Nice to have you back...catch U L8ER

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TTFN

ps...My good pal in Norwalk got married a couple of weeks ago so next time I speak to him I will ask him if he takes the same attitude to his partner as we seem to have with ours

Deer Dave,

Top of the morning to you my spineless friend! I had a good laugh on the swiss, thank you! It's funny, because I thought I was addressing you, DaveR. I looked back on my statement, and by golly, I didn't mention the swiss name at all, yet, the swiss feels they must tell me how my life works. But I'm not here to argue- just here for the entertainment, and to speak with the 'kind' folks on here. Well, I'm off to the daily grind. I have to make sure when I tuck in my shirt my spine isn't sticking out, and Dear God, please don't let my tie become a noose for my boney neck...lol. Talk to you later, DaveR!

Dave Rimmer, Li...

Dave....and for that matter all my friends over the pond, as we say over here, dont work too hard.....there are no pockets in a shroud. As for the missing spine, I must go and tighten my girdle now as my torso is drooping.

Catch U L8ER when the surgeon has reversed my labotomy and her indoors has given me permissio

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Ta Ta

pay attention (...

pay attention people...you don't have to pay taxes on it or claim it...it is simply "a gift from the governemnt" thats what they are saying anways. http://finance.yahoo.com/taxes/a...

kevin lewis

i realy dont want this money ---- first because a direct unaportioned tax is unlawful ---- 2nd all this money that people think they are getting is created out of thin air diluting the money that allready exists --- if anything people should take this fiat money and use it to shut down the federal reserve and irs

Where is it com...

Did they just print some more? Certainly, they didn't. It must becoming from somewhere?

rusty (Anonymous)

well i know its just a joke, when you file taxes for the 2008 year you will have to claim it.but this now and that will be then,so its off to vegas but the smart thing to do is bank it,since my localemployer will be in a contract year 2009 and it dosent look great .they are already shipping work to south and bringing in chinajunk. and they way they are dropping employees they dont care! so saving it to help out in a long strike,if it comes to that would be intelligent thing to do

heatherg

you know if you all have such a problem with receiving this "gift" from the gov't and think it is such a bad idea then why not donate it to a good cause? (charity)Let people/animals use it that would appreciate the small things.

swiss family

to"rusty"

you may have hit on something here, if your local employer is who it looks like it is, because everyone know which factory is shipping in china junk, and shipping out work to the sothern location, and even have local employees in place down south, in case of a strike by the local employees.. maybe it would be good for you and others out there to take a good look around at what has happened to other prominent factories in the area..i.e. Ford, and G.M. and their associate plants.. they have all taken drastic pay cuts, or buy outs.. to even try to hold on to their jobs

it seems that any strike at this time in the history of the economy, would be suicide on you and your fellow workers behalf.. but go ahead and strike if thats what you all believe is the right move.. and your union backs that as well, just don't be "bellyachin" on here or anywhere if you think that you are such a priceless commodity, and demand "more" when there is no more to give you locally, and you force the company to use their other option, which is to close down this plant, and sacrifice all of the local employees, and open up and utilize the southern location that is already in place to take over.

you have been on struke in the past, and where did that get you?? i think that striking at this point, will be sacrificing your jobs to the southerners.. is that what you all want??

re: swiss famil...

good day to you

well i must say i agree with a good portion of what you said. and i dont need to take good look around,i know whats going on.and yes the previous strikes i have never supported,but alas being in the union majority rules. i would go to work no matter what if it were not for fact of the harrasment and possible vandals,and then lose some of the money made by crossing line because the union "fines" you .its sad i live in america where we are supposed to have the freedom of choice but get s..t on if i choose to work.i just hope more of my fellow employees think like me, and in the end yes the previous strikes really didnt accomplish anything

oh yes there are fair odds you may know me or be aquainted with me its a small town aand i used my real name. hell you may even work there too, haha so take your own word in condieration next may

have a good one

rusty (Anonymous)

oh yes i need to clarify when i said the company dosent care i mean its is to that point i think they would move south,business is business.

joe braxtin (An...

im gunnu buy 500 dollars worth of ammo and stash it

Annie (Anonymous)

I'll put my bribe into my savings--soon I'll be able to afford moving overseas.

Very Leery, but...

A few years ago, Bush did the same thing. Of course, I didn't benefit from it like it was said I would. And, you DID have to claim in on your next year's taxes. So, be prepared everyone for that. The government is getting money from China to finance all of this. Which, I guess is no surprise. We are not printing any more. I'm very leery about the whole thing and won't expect a penny until I have the check in my hands. It's just going directly to savings...not to the stores. And I have a feeling that a lot of people will be doing the same thing...that or paying off bills.

marshall law

I like the way you think Joe

Shaving with Oc...

The majority of surveyed economists are calling for an economic slowdown, not a full-blown recession.

If we ever do hit a recession do ya figure that the gov’t will print up even more money and give everyone $40,000?

How about $100,000 to each citizen for an economic depression?

If consumer spending is the answer, then a few thousand ought to make a real difference in an ugly economy don’t you think?

off to the phar...

First, as posted earlier this is a repeat of what Bush did in his 1st term of office. And yes we did have to claim the money on our taxes. Now I do not remember if that was stated up front or not. The last time Bush pulled check out of his hat we used it to have fun. This time I wish I could say the extra money would go in the bank for a rainy day, or maybe we would invest it wisely. But in our home the money will go to the local pharmacy. Pretty sad state of affairs when folks have to pay more a month for medicine than they do for their house payment, car payment and credit card bills combined.

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