Comment on the alleged rebate coming from the US government

[Hawk]

This morning the Administration said each one of us would get $300.
It was supposed to be $800 but they dropped it to a $300 rebate.
As has been suggested if we spend that money at Wal-Mart, all the
money will go to China. If we spend it on gasoline it will all go to the
Arabs or Venezuela, and neither will help the American economy.

The way I see it, we need to keep that money here in America, so the
only way I can see to keep that money here at home is to buy beer or
spend it on prostitution, that is the only businesses still thriving in the U.S.

[Gwizz]

Better save that money. Obama's first bill was passed and if not vetoed, we will be giving foreign aid to help the poor of the world at a cost of 200 billion dollars. We already give more aid than any country in the world. I'm glad we can do this but if it makes us all poor who will pay that bill?

[Hawk]

Actually I think it's 245 billion that will have to be paid to the UN for taxes due between 1990 and 2015. It's .7% of the US GNP and it's called the 'S. 2433: Global Poverty Act of 2007'.
It's already passed the House (H.R. 1302) and is currently in front of the Senate.

[KevinL]

I would rather we help the poor in the United States first. Let the rest of the world help themselves instead of depending on US for handouts.

[proudcanadian]

Unfortunately, a lot of these countries can't help themselves, they're either under the control of dictators who don't care, or everyone's too poor to do anything. While I agree, us westerners should focus on the poor of our own countries, we should at least contribute to helping others.

[Braindead6]

Ed
You had better be careful which beer you buy. Miller is owned by Germans, Coors has become part of Molson. I think the only "big" beer company left is Budweiser, and I'm not to sure about that anymore . Better go with the prostitutes, that way you'll enjoy yourself and not be hungover in the morning .

Jim

[Hawk]

Actually, back when I did drink, Budweiser was my beer.
I would rather spend money on Uncle Bud than Miss Kitty.
A hangover doesn't last near as long as some of the stuff Miss Kitty offers.

[wsherrick]

Yep Hawk, you're right. It's the itch you never quite get rid of.

[Gwizz]

Here in Washington liberals are in control. They just finished their short session.
Their spending has increased by about a third. This means more taxes, maybe the highest in the US. Together with the increase in prices of just about every thing, except the value of you home, the average value of an American's usable income is diminishing.

If the liberals win the presidency of the US it is estimated our average taxes will increase by over $200.00 per month per person by just the elimination of Bush's tax cuts. Of course what our radical liberals have promised to do will lower our purchasing power even more. No one knows just how much yet.

Now, with the value of our dollar sinking and the government printing presses running at high speed, they sank billions of these new dollars into the stock market to give it a boost. It worked for a few of days. Now the stock market seems to be sinking again.

Gwizz, I hope everyone has a wheel barrow
.... to carry whats left of our money or credit.
.... to buy some basics or at least a loaf of bread
.... to soak up our sorrow at this sad turn of events
.... as we go sink sank sunk like a chunk of lead.

The government owns the water.
But the sky has not fallen, Yet.
Not until they own the air.
Gee, they almost do.

What is the name of this Tycoon game? Is it fun to play.

[Hawk]

Turns out I was a little off kilter in my first post.
Actually those who are receiving SS benefits will get $300.00, if they file a 1040A return (in a special, simpler way) and if the benefits exceed $3,000.00 dollars for 2007. I just had to dig up this info for my 82 year old Father-in-Law.
Everyone else, that are eligible, will get between $300.00 and $600.00 per individual, $600.00 and $1,200.00 for a married couple and a possible $300.00 per dependent child, depending on your AGI (adjusted gross income).
The ceiling for this rebate is a individual income of $75,000.00 and I believe $150,000.00 per couple.
Where is the government getting this 245 billion dollars. By selling bonds to the wealthy.

[CeeBee]

I guess the government can just keep borrowing money to keep taxes where they are or even lower them but... whats the debt at now... a trillion or more? It's been tried before but eventually you have to pay the piper, don't you?

[Hawk]

Yep! You're so right CeeBee.
If you want to dance you have to pay the fiddler.

[Gwizz]

I figured out the name of this tycoon game. Printing press tycoon.

I wonder of the printing presses in Colorado are being used to fuel our inflation, where they are printing the Ameros?

[Braindead6]

Another thing about the "rebate" is that I am not eligible because, being a farmer, I don't pay taxes during the year. I pay once a year.
The government decided that I didn't qualify because of the fact that they didn't get the free use of my tax money during the year .

Jim

[KevinL]

Even better, the government is spending $45 million to print up and send us all a letter to tell us we're getting a rebate. And then they're sending the rebate later. Why didnt they just send a letter with the check???

Or even better, give us a $300 rebate with our taxes. If you pay your taxes on time, you get an extra $300 rebate. That might reduce the fraud.

[Braindead6]

I have not checked into this lately, but from what I understand the "rebate" is really an advance on out 2008 earnings anyway. Meaning 2008 refunds will be $300-$600 less than it would have been .

Jim

[Hawk]

According to this link http://usgovinfo.about.com/b/2008/02/27 ... rebate.htm this rebate will have no bearing on your 2008 tax filing.

In addition, your tax rebate will not reduce your refund or increase the amount you owe when you file your 2008 tax return.

[Braindead6]

They must have changed it from when it started. Like I said, I haven't really kept up with it.
The way things are going now, we can use the rebate to get a tank full of gas.

Jim

[Gwizz]

Braindead6,

Filling your tanks would empty my wallet in short order.

[Braindead6]

Try Filling up a 300 gallon truck diesel fuel tank .

Jim