How To Spend Your Tax Rebate
- Thread starter jlnguyen74
- Start date
I'm curious to see what happens next year when people don't the tax returns they are expecting. I'm guessing this rebate will take a pretty big chunk of most returns in '09.
I'm putting my return into my "sick of paying rent" fund...gotta get that house soon!!!
I'm putting my return into my "sick of paying rent" fund...gotta get that house soon!!!
The whole thing about not spending that money on goods with foreign origin is somewhat misguided....
Spending money locally still helps the local and domestic economy. It still took trucks, driven by good ol american rednecks, to get those products to the stores, and it still takes a store to employ local citizens, and it still supports the store that pays taxes to the state and local governments. Spending $600 on a flat panel TV does NOT mean all of that $600 goes straight to Korea or Hong Kong.
Too much fear-mongering in the media...the economy sucks right now but its still better than 95% of the other places in the world, that's for damn sure....
Spending money locally still helps the local and domestic economy. It still took trucks, driven by good ol american rednecks, to get those products to the stores, and it still takes a store to employ local citizens, and it still supports the store that pays taxes to the state and local governments. Spending $600 on a flat panel TV does NOT mean all of that $600 goes straight to Korea or Hong Kong.
Too much fear-mongering in the media...the economy sucks right now but its still better than 95% of the other places in the world, that's for damn sure....
bigspizz;1623745; said:
It's a pre-payment of your 2008 tax return...not "free money". You have to declare it next year.
That money comes out of next years taxes, big effect on next year, plus that letter we all got to tell us were getting money cost in the 10's of millions
Mystus Redtail;1623767; said:
Yup...a lot of people are thinking "free money", but being single and in the tax bracket I'm in, I don't get much back from the government so next year is probably going to be a big goose egg for me...or I'll owe.
bigspizz;1623784; said:
I've heard both too...I just checked the IRS website and this is what I found:
What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.
I was also reading about how it DOES affect your return in '09...who knows.
Governments...
