The Economic Stimulus Rebate

[Crankin]

We are not getting any... we make too much money. Last time, however, we spent the $ on a snow blower.
Personally, I think this is a band aid and a poor excuse for not really attempting to fix the problems we have. I don't need the extra cash, but it is frustrating to see how the pres. thinks this will help. I mean, he has no grasp on what things really cost, anyway.

Last week I asked my sons what they would do with the money. One is going to save it and the other is either going to use it help pay off a credit card bill for car repairs or use it for a vacation.

[SheFly]

Like Robyn, we won't get any, which is fine with me. I read an article yesterday that said the last time they did this, only some small percentage of people actually spent the $, which is the point... Seems more like a popularity issue than really trying to stimulate the economy.

SheFly

[indysteel]

The good news is that I make enough income that I'm not eligible. I'll take my salary over a $300 rebate. The bad news is that I, too, think the package is ill-advised. But, oddly enough, neither Congress nor the President asked me what I thought.

[Tuckervill]

I'm in the same boat as Indy and Robyn....not getting any. I am curious, for my sons sake's, whether it is an advance like last time or not. I haven't heard anything about that, either.

If we were getting one, I'd use it to offset the cost of putting new plaster in the upstairs bath ($2400!!!! ). It would probably mean I would buy the $150 pedestal sink and not the $109 one. lol.

eta: I just checked at IRS.gov.

Stimulus payments will be subject to offset against outstanding tax and non-tax liabilities in the same fashion as regular tax refunds.

What that means, I have no idea.

Karen

[Blueberry]

We'll be getting some small portion (I think) or none because of our income. Haven't done the calculation yet. We're down to the point where we have no "bad" debt, so I would either use it to pay off come of my remaining student loans or save it.

However, as I understand it, it's for 2008. So, if you make more money in 2008 and got the refund anyway, it's forgiven. If you should have gotten more, you get the rest when you file your 2008 taxes.

CA

[GLC1968]

We'll be getting some small portion (I think) or none because of our income. Haven't done the calculation yet. We're down to the point where we have no "bad" debt, so I would either use it to pay off come of my remaining student loans or save it.

Ditto - word for word. But, now that I see it's based on 2008 salary, we probably won't get anything or...we'll have to pay it back?!

How does that work? If you get $ based on your 2007 salary level, but you make more than the 'cut off' in 2008, will you have to give it back? And if so, I want to know this now so that we don't spend it!

[Blueberry]

The article I read said that you would not have to give it back if you made too much in 2008.

By the way - how are the move preparations going?? Are you guys going to have any free time before you move?? Farewell dinner??

CA