Bush signs tax rebates, modest economic boost

Does anyone out there know if the IRS will be determining income from 2006 or 2007 tax returns?

“I think this whole package would have worked better if it were part of a long-term package,’’ said Hughes, suggesting that a new national commitment to rebuilding the nation’s infrastructure or an Apollo moon program-styled campaign for energy independence could offer the longer-term promise that many are seeking."

What a Loony Left proposition!!! Rebuilding our infrastructure! This guy must really be a left wing wacko, right Johnny D??

When you receive your check,thank the Democratic Congress who got this deal done.

And you can thank the Democratic Congress for giving the funds to President Reagan to end the Cold War.

I know why the Left is so against this rebate. First of all, the Left does not believe worker's income is theirs, but that belongs to the government. Second, it also proves that more money in the hands of the consumer is good for the economy. Leftists believe money in the hands of the government is better. Leftists hate business, they hate Corporate America, and this package will only help both. And by helping both, jobs will be needed. Leftists hate it when jobs are needed, they would rather have folks dependent on the government to make ends meet (which really doesn't happen for those dependent on the government).

Bobin, there is nothing wrong with improving the nation's infrastructure and there is nothing wrong with seeking other energy needs. But there also is nothing wrong with workers keeping MORE of the money they EARN. And, in regard to energy development, most energy development throughout history was developed and gotten through the efforts of businessmen and innovators, not the government.

“This puts money in the hands of people who will spend it,’’ said Chad Stone, chief economist for the Center. “The more people are up against their credit card limits, the more likely they are to spend the rebates.’’

Gee, thanks Democrats! How in the world can this be a good assumption of the average US consumer? Give it to the people who are terrible money managers, let them blow the refund and rack up more interest debt to the credit card companies.

Thanks President Bush and members of both parties in Congress for the rebate of MY OWN tax money. The mere thought of a governmental unit actually giving back part of my own money sends chills up my wallet. Can't wait for the city of Chicago and Cook County to do the same. I'm waaaiiitttttiiinnnngggg!

FREE MONEY!!!

I know why John D loves this rebate. He loves that it will increase the deficit. He is selfish and greedy, so he's willing to have his children and grandchildren pay for his rebate many times over.He thinks his children and grandchildrens future earnings belong to him and he wants it all now. He hates america so he wants to drive it into brankruptcy.

Your an idiot

I am going to put my rebate
to good use by donating it
to the Obama campaign.

I am in hoping this will happened. We have been out of a home for 10yr now. We are about to get a house again. We know we need to get a fixer upper. The money coming in May will Help us out . We will be about to fix the house up and move in . But if we don't. Well, then I guess we are up the creek......

I'd love to keep more of my pay, John D, but it keeps going to the grocer and the utilities. And why is that? Oh yeah, rich people aren't paying their fair share of taxes anymore. Plus we have to pay for that disastrous oil grab in the Middle East.

Hughes is correct. This will not help the economy because you can't force people to spend the money, they can save or pay down debt. The best way to stimulate the economy is by government spending! That's right Republicans, the evil government spending. That money goes directly to the economy. Spending on Iraq, for example, does not. We should be spending money to secure our ports, nuclear sites, water facilities, major dams and bridges, etc. Put people to work, and put money into the economy. Oh and actually do something for our national security, 7 years after 9/11.

Let's do some basic math.

Americans consume approx 400 million gallons of gasoline every day.

At $3 a gallon that is $1.2 billion a day.

Gas prices are up at least 30% compared to last year. Which means that this $1.2 billion a day we're spending now was only about $900 million per day one year ago. I dont have the exact figures and we dont really need them to see that there's a serious problem here!

We are spending somewhere around a quarter billion more per day, conservatively, on gasoline than we were a year ago.

That's about $100 billion a year!! If/when the price of gasoline hits $3.50 a gallon, it will mean that the rising cost of gasoline will consume ALL of this economic stimulus money in one year. IF gas hits $4 a gallon, it will consume all of the stimulus money within 6 months.

And that says nothing about the increased cost of natural gas, electricity, food, medical care, tuition, and just about everything else that's not made in china.

This is simple math, and it says this stimulus is an insulting joke. It's an election year ploy. If gas goes to $4 it is going to blow up in their faces come november. IF gas stays where it is, or drops, it will mean there is severe demand destruction indicating severe recession. Either way, this stimulus is a joke. They know its not going to work, and once again they think people are too damn stupid to figure it out.

We need energy independence, NOT silly handouts. Especially handouts that are tacked onto the country's national credit card.

RETIRED/DISABLED PEOPLE!!

Is anyone considering sharing some of this pelf with retired/disabled people who cannot work? Or are we all just social detritus waiting to be swept aside with the economic undercurrent about to blast the whole damn thing away.

I have yet to hear much about this aspect of this grandiose plan.

This is a mistake. We are saving ours for something beyond a rainy day.

Congress should just send the money directly to China and avoid the middle man. Most people will blow this money on STUFF they don't need that's made in China. This is proof that the democrats in congress need to go take an economics class at the local junior college. It's what we get for electing lawyers to congress.

I'll take the money. But when do I get my free waterboard? That sounds like fun.

Here's a way to limit the economic impact: only give the rebate to the people who didn't vote for this sorry ship of fools.

Mine is going to try help ease the shameful way our nation has turned it's back on the Gulf Coast after Katrina.

Might I suggest donations to:

Hands On Gulf Coast

http://www.handsongulfcoast.org/AboutUs/index.php/index.html?PHPSESSID=08ba024339c0ba338a72c64556dcc9a2

Operation Helping Hands

http://www.ccano.org/operation_helping_hands.htm

Frater Gregorius,

I'm not sure, but the plan seems to exclude these good Americans because they don't earn income or pay taxes, therefore 'undeserving'.

I could be wrong. Anyone?

I read that it will be calculated based on our 2007 returns.

"QWEST SPEAKS"

WE DIDN'T EAVESDROP OR WIRETAP YOU, INVEST IN US.

WE DIDN'T DATAMINE YOU LIKE BROWNIE WANTED TO DO.

WE DIDN'T GIVE IN TO KARL ROVE, OR DICK CHENEY PRIOR TO THE 2001 ELECTIONS AND LET THEM LISTEN TO THEIR COLLEAGUES TO GET THEM LOCK STEP IN ON KEY VOTES.

WE DIDN'T BAG OUT LARRY CRAIG OR SENATOR FOLEY. WE DIDN'T BAG OUT DAVID VITTER AND HIS PARK ESCAPADES WITH HIS "SECRET LOVERS"

SO AMERICA TAKE THAT STIMULUS AND STICK IT RIGHT BACK INTO THE TELECOMMUNICATION COMPANIES POCKET, BUT AT LEAST THE ONE "MA BELL" THAT DIDN'T SELL YOUR CALLS TO THE HIGHEST HALLIBURTON TELEMARKETING COMPANY OUT OF DUBAI OR INDIA!

I STILL FEEL I GOT SUCKERED, I COULD OF HELD OUT FOR ANOTHER TWO WEEKS. SOMEONE HEAD IS GOING TO ROLL, I WAS ASSURED THAT MY "COILPRO" METHOD OF KEEPING YA'LL IN CHECK IS ON THE FENCE AND I JUST FEEL A LITTLE SUCKERED MR. BOEHNER!

LONG LIVE NANCY PELOSI!

Cheryl, in reality since the Bush tax cuts, the rich are paying more of the government's revenues. The richest 10 percent cover approximately 70 percent of all government revenues. The richest 20 percent cover approximately 90 percent of the government's revenues. You really should do a little research and think before espousing your ignorance. Ooops, sorry, ignorance and left go hand in hand like steak and potatoes.

For those of you who think this is a terrible idea dont worry, when a democrat gets elected to office he or she will raise taxes, so we will be giving it right back.

Bush...take your stupid rebate and stick it where the sun don't shine. Your only doing this to try and save the Republican Party from total defeat in the Presidential Election caused by your total failure as President.

Well lets see..The richest in this land get loopholes and tax breaks. The neediest well, how many homeless do we have? How many more need foodstamps and help paying the gas bill, light bill, water bill, phone bill etc. since this REPUBLICAN President has been in office. He doesn't see the average person cause he has no idea what it means to not have a penny to your name. It is just a phrase to him and the rest of them.

Do they really think that $300, $400, or even $600 will help the bottom of this scale? Spend it? I really doubt it! For those that don't over spend (since there is never anything left to begin with) this money will pay a very small part of a bill. Maybe on gas that goes to the most wellthy again and again. Thanks for nothing! AS ALWAYS!!

I am going to spend mine on the black market! Thanks prez!

John D,

You aren't counting the payroll tax, Social Security, which the poor and middle class pays 100% on the first 90k. Also, property tax and local sales taxes hit the poor and working class harder than anyone.

Get out of the invisible glass box, French Mime!

I will be investing mine in non-government monitored markets (aka the black market) so as to prevent giving in to the government's whole premise. No way will you see me paying any of my bills with this! A bird on the hand is worth two for the Bush!

I plan on spending some on pot, and some on lap dances.

Hope that pulls us out..

Nate,

They don't want you to save it or pay down your debt with it.

They want you to charge it up in advance, then spend it again when it arrives.

Pay down your debt, or save it. Don't spend it.

BTW, they may ask for it back next tax year.

C. Morris,
As usual, you have broken the code. Paying down debt is un-American -- this is money to spend, not bank, not grow -- which is the problem, isn't it?

☐

I find it funny that some of the same people in here asking where's mine are the same people that complain about the deficit.

Bobin - infrastructure is a job that the should do, unlike many others that they do and do miserably.

Cheryl - the rcih are paying a dispropotionate share of the income taxes in this country.

http://www.ntu.org/main/page.php?PageID=6

Tim - that place where the sun doesn't shine would be the cavity where your brain should be located. However, if you feel guilty about the check - endorse it and send it back to the gov't.

Faye - how much do you think we should give those on the bottom? Instead of whining about the problem - how about a solution? Why don't you sign your check over to a food pantry?

Reamer - you are correct on the ponzi scheme (SOC Sec Tax) and sales tax, but property tax is pretty proportional to income.

From most of the comments here, it appears people need to look further into the rebate details. It is a rebate for the year 2008's taxes. It is an advance of a refund you may receive next year. It is not free money.

My hat goes off to Bush and his adminstration as well as the Congress. It's not about republican or democratic. this is about "love" for your country. we all should give thanks to our Heavenly Father for giving the wisdom to our current president and the Congress for giving us this special gift for this year 2008. We are so fortunate to have this blessing from uncle sam and here we are complaining? we should be thankful for ev'rything and not being greedy. Just be thankful of what you have and except. Hey, at least we're getting something. It's better than nothing. Thank you also President Bush for including the U.S. Territories on your list. You will be remembered in our prayers as well as our lawmakers. Your wisdom and knowledge is from God and no one else. Thank you and thank you. God Bless America.

There is Nancy Pants smiling next to her boy George. Nancy Pants--IMO the disgrace of my party--the Dems. San Francisco produces some interesting Dems. Blergh!!! The cost of this Bush bail out will go on to the next prez's tab. Bush--such a responsible adult. Not. Am thinking he will leave as much mayhem and chaos as he can upon leaving office--knowing that most Americans want a Dem as prez in '09.

Tracy,

I think you are right. Last time this happened there was a 'work sheet' in the following years 1040 to compensate for the 'rebate'.

Save it, folks, then give it back.

Here is the link from the IRA website - see the "Notice" section - looks like an interest free cash advance (rebate). What qualifying taxpayers get in 2008, qualifying taxpayers will payback in 2009.

Therefore, as much as this increases the deficit in 2008, this should come back in 2009 (in static economic equation)

http://www.irs.gov/newsroom/article/0,,id=179095,00.html

WHAT ABOUT INDIVIDUALS THAT ARE ON WORKMANS COMPENSATION WHICH CANT BE CLAIMED ON YOUR TAXES WE STILL HAVE FAMILIES ARE WE GONNA BE ELGIBLE OR NOT

I know I don't need this rebate. I challenge Chicagoans to do some good and donate at least half of their rebate to a charity of their choice!

Reamer, in case you don't know, and since you are a Loony Lefty there isn't too much you do know, but property taxes are state and local based, not federal. Sales taxes too. There isn't a national sales tax -- yet. The 10 to 11 percent you pay here in Illinois is all Illinois. And, Reamer, who has been increasing or proposing to increase the sales tax here in Illinois? Rod, Todd, Daley. Democrats!

RETIRED/DISABLED

I am retired and pay federal tax on all of my income (which is not all that much income--under $30K/year). NONE of my income is excluded from US tax. ALL of my income makes me ineligible for any rebate, as far as I can tell, under this proposal.

Does this make any sense?

I DON'T KNOW, I KEEP READING ALL THESE COMMENTS THAT THIS IS A BAD THING, I MAKE LESS THEN $10 AN HOUR AND I SMOKE SO MORE OF MY MONEY GOES TO GAS AND SMOKES, I LIKE MORE POLICES FROM THE DEMOCRATS THEN I DO THE REPUBICANS,
BUT I'M A GUN OWNER,
BUT I DO LIKE KNOWING THAT AT LEAST FOR ONE YEAR I'LL GET BACK MORE THEN MY YEARLY TAX RETURN OF $400
SO THE REST OF YOU THAT MAKE SO MUCH MONEY EVERY YEAR THINK ABOUT THIS WAY.
IF YOU HAVE MORE MONEY THEN YOU KNOW WHAT DO WITH THEN GO OUT AND GIVE SOME AWAY SO THE GOVERNMENT DOESN'T HAVE TO!

"NANCY PELOSI SPEAKS"

BOY I CAN'T WAIT UNTILL THIS KID GOES BACK HOME. IT'S BEEN LIKE ICE CREAM ON A ROUGH STICK DEALING WITH HIM.

STRAIGHT UP OR STRAIGHT DOWN, THUMBS UP OR THUMBS DOWN, IT'S ALWAYS THE SAME ENDING, AND IT ISN'T A HAPPY ENDING.

DUH, DUH-DUH DUH... DUH.

GIVE ME THIS, GIVE ME THAT, WE DON'T BELIEVE THIS, OR THE CONSTITUTION THIS, OR THAT 1ST AMENDMENT THIS.

BUT MAKE SURE "MAMA" PELOSI YOU HAVE MY "EMERGENCY DOMESTIC MONETARY SPENDING DEFICIT CREDIT CARD" YOU FEEL ME .

WHO'S CHILD IS THIS ANYWAY, THEN CRYING ABOUT WHO HE CAN AND WILL LISTEN TO IN "HIS AMERICA" "HIS CANADA" AND "HIS MEXICO"

GIVE HIM LIBERTY, IMMUNITY AND CONSTITUTIONAL IMPUNITY OR GIVE HIM SOME JAIL TIME IS WHAT I THINK.

JOHN JOHN, NO, NOT JOHN MCCAIN, JOHN CONYERS, CAN YOU HELP A "SISTER" OUT.

Correct me if I'm wrong but is this the only president who has had a backdrop or in this case a sign in front of him for every little thing he does? Is this so he remembers what he is supposed to talk about? I think we could save a boatload on cutting out all of the unneeded graphics.

Why is that children 17 can't get the child's tax credit? They are still in school and a dependent to the parent and more expensive. Why are they saying to get the 300 for the child you have to be able to get the childs tax credit?

However, if you feel guilty about the check - endorse it and send it back to the gov't

Posted by: Terry | February 13, 2008 8:30 PM

Many you're dumb. You know that money you get at the end of the year after you file your taxes to the IRS, that refund? That's what the federal government does when you pay them more money than you owe. You can't take a refund OR a rebate check from the IRS and turn around and give it back to them. It like talking to a 6 year old with you and your ilk.

Hey listen all you negative A@#H*&%S

You take for granted how well we live, no matter what class of people you fit in. Tell me there is a better country to live in. Tell me you can wake up in China, Russia, Middle East...... ect. and walk freely, have total freedom to do what ever you want anytime without worrying that your life is in danger. If you don't think our government is "For The People". Then get the H@#&!!! out of Dodge.
Stop your complaining.....do you think you could do a better job of being in control of the greatest country in the free world....well, if you answer yes to that, then get off your ass and do something about it.

Elaine (@8:39am) - I agree with you on that. I have twin 17 year olds and I feel like I totally got screwed this tax season, not being eligible for the Child Tax Credit. With the costs of college application fees, prom, class dues, etc......I could have used that extra $2,000 this year.

"You really should do a little research and think before espousing your ignorance. Ooops, sorry, ignorance and left go hand in hand like steak and potatoes."
Posted by: John D | February 13, 2008 6:37 PM

Then what's your excuse for being such a relentless ignoramus, Mr. Drizzlin'?

"...in reality since the Bush tax cuts, the rich are paying more of the government's revenues. The richest 10 percent cover approximately 70 percent of all government revenues. The richest 20 percent cover approximately 90 percent of the government's revenues.

Ummm, FALSE! NOT CORRECT!! NOT EVEN CLOSE!!

Table 2 from the non-partisan Congressional Budget Office:
http://www.cbo.gov/ftpdoc.cfm?index=5746&type=0&sequence=1
Share of Federal Tax Liabilities

Highest Quintile 2001
65.4%

Highest Quintile 2008
63.8%

So, for starters, in addressing your first mindless assertion, the share of federal taxes paid by the Top 20% (quintile) has FALLEN over the Bush years. That's Strike 1.

The richest 10% cover 48.3% of the federal tax burden (down from 50% in 2001), not "approximately 70%" as you brainlessly assert. That's Strike 2.

Finally, (its simply amazing that Dyslin is capable of writing one short paragraph and getting absolutely everything in it demonstrably wrong and in fact not even close to accurate, and in the same sputtering post rip "lefties" for failing to check the facts. Hilarious!) the richest 20% cover 63.8% of federal tax liabilities, which, by my admittedly simple calculations, is NOWHERE CLOSE to 90%, as you sputteringly proclaimed. That's Strike 3, Dyslin.

You're out!!

I am a divorce mother of two kids and took care of them. My filing status always been as a "Head of Household". With this stimulate package, it is not clear if I would recieve a check as a single ($300.00) or as married ($1200.00) in May. It was not mentioned anything anywhere about "Head of Household" which is not right. This is one of the status for filing the income tax and approved by IRS and gongress. Head of Houshold spend as much on the family as married one, and the whole responsiblity is on one person's shoulder to take care of family.

Jamal and a few others, you have it correct. Please be aware that even though it’s being called a ‘rebate’ it is actually an ‘ADVANCE’ ON NEXT YEAR'S TAX REFUND! So be prepared to ‘pay it back’ next April. Thanks President Weasel for advancing my own money to myself@!@#$%^&!!!!!!!!!!

as a father of three with kids in college, this is a relife for myself and family, though i do believe that we would do better in our economy if we would end this war and bring our troops home. and focus more on our borders.and we need to be more watchful of saudi arabia,and oh by the way where are we in the hunt for bin laden.

"However, if you feel guilty about the check - endorse it and send it back to the gov't

Posted by: Terry | February 13, 2008 8:30 PM"

Terry,
How did you step in this one?

We are going to send it back. That's why we have to keep and save it, so we can send it back with our 08 taxes.

"Reamer, in case you don't know, and since you are a Loony Lefty there isn't too much you do know, but property taxes are state and local based, not federal. Sales taxes too. There isn't a national sales tax -- yet. The 10 to 11 percent you pay here in Illinois is all Illinois. And, Reamer, who has been increasing or proposing to increase the sales tax here in Illinois? Rod, Todd, Daley. Democrats!
Posted by: John D | February 13, 2008 11:13 PM"

Jeez Crazy!
Of course they are local taxes. That's why the progressive income tax was the fairest, to balance out the tax burden between the poor and the rich you stupid gas bag.

All,

OK, let's settle down.

Now, this is a bad idea. Why was it approved by Dems and Republics?

Because both parties knew they had to do this for political cover, never mind the bad thinking behind it.

My own opine is; It's better to do nothing than do the wrong thing.

Don"t give Bush to much credit for giving us a little money back,Hell we deserve that and a lot more.All he wants is to go out of office with us saying that he did a good thing,Well money can"t replace all the lives that have been lost in a war that should have never started.You don"t even hear much about the lives being lost anymore,we should get our own country under control before we start trying to run another one.BUSH KEEP THE MONEY,END THE WAR AND BRING THE TROOPS HOME!!!!!!!

Yesterday I stated as some others have that the rebate is an "advance" against next years tax liability/refund. In yesterday's WSJ, a aide to Senator Baucus was quoted as saying "Please be aware that there have been erroneous reports that stimulus rebate checks are an advance on next year's tax refund, so that any refund a taxpayer might normally receive would be reduced by the the amount of the 2007 stimulus check. THIS IS NOT CORRECT."

Now to John at 10:33 this morning. When you insult someone and their "ilk's" intellgence, you better have facts to back that up and in this case moron - you don't. You can donate money to the gov't and even donate to specifically bring down the national debt.

Here's instructions:

http://www.fred.net/tds/taxrelief.html

Here are contributions for the past 12+ years

http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

So the next time you call someone one "dumb", look in the mirror first.

Next time you get a thought John, saying nothing and let people only think you are stupid instead of oopening your mouth (or typing on a keyboard) and remove all doubt.

i know what bush is buying me this year muahahaha muahaha

i had major back surgery, my insurance defaulted. i am now homeless. i am not sure where they should send my check at this point.

does anyone know if this tax relief is for all taxpayers or only taxpaying American citizens?thank you.

Terry,

Just in case, I ain't spending it until I see the 08 1040. Then maybe I'll get that new muffler I've had my eye on.

it does not affect me but i was wondering, what happen to the refund for the seniors, they weres suppose to get a refund too. at least that was what they said a few wks ago,an now the way i read it their not no,, how does it go then, are they or not

I would MUCH rather see a decrease in gas/utility prices than the quick fix band aid this rebate represents. Why is middle America suffering? Because it's costing $40+ to fill up a modest tank of gas; The cost of gas has driven up EVERYTHING else in the stores. $4 for a gallon of milk that a couple years ago cost $1.89! Utility companies have done their best to suck consumers dry, not only with exorbitant rate increases but with stiff penalties in the form of mandatory "deposits" when you can't keep up with $300+ monthly heating bills. And just when you think you're better off as a 2 income family, here comes the astronomical child care costs. Somehow it is justifiable for centers to charge $12K a year for one child, lord help you if you have two. Many couples I know spend over $20K a year for 2 children. Take a $50K year job, subtract taxes, a modest retirement contribution, the cost to travel to work and back, and childcare, and all of a sudden that $50K job turns into $15K actually being added to the family budget.

Anyone who thinks any government "aid" in the form of a rebate coming from the same people who have plunged our country into this chaos is a great thing is a complete fool. Let's try NOT spending trillions of dollars on a war (a war that we are funding from BOTH sides as one astute politician pointed out), putting a cap on gas prices and utility rate increases. Yes, it may take a bit longer to see a turnaround than this quick spurt of money being pumped into the economy, but the overall effects will be so much greater in the long run.

That being said, I'll hop in line and wait eagerly to get that $1800 rebate, so i can pay off the credit cards I had to max out when I took 8 weeks off last year for my unpaid maternity leave.

Andrea,

Do you want the gov't to pay your utility costs? Child care costs? here's the reason for milk prices:

http://www.msnbc.msn.com/id/18946296/

Does the phrase "the road to hell is paved with good intentions mean anything to you?"

As far as putting a "cap" on prices, do you remember the gas line shortages of the 70's? Cap prices and those that bring the commodity will quit doing so and thus create shortages - econ 101

Lots of weird info in here. But why aren't you more interested in where this money is coming from. Possibly they printed more money to give away?? Dont you know about inflation?!Maybe they want you to pay off your debt to the banks?? Banks that are already in need of help. Think outside the box and look further. There is more here than just a check.

If I wanted to cash advance I'd go to one of those scumbag check cashing places. I don't frequent those companies and I have a hard time accepting that our federal government has stooped to this level. This is a sorry, sorry state of affairs. This money that will show up happily in your mailbox this summer is your own money that you haven't earned yet but will be paying back next tax season.

I would rather stop paying in on social security that I will never see again in my lifetime...It sickens me to see the nations SS debt paid on by young people who will never benefit from it.

Rebates to the territories has become somewhat controversial. I'm not sure how the details of the tax rebate program will apply in other territories, but can comment on the situation in Guam. It's unlikely that Guam taxpayers, who pay income taxes to the territorial government under a "mirror image" plan (exactly as if they were remitting to the federal treasury, though all the money stays in Guam) will see any of the rebate cash in the foreseeable future. Why? Two reasons. As things now stand, the law requires that rebates be disbursed by the local government, which is then reimbursed by the feds. That can't happen because the government of Guam doesn't have the money and has no real means of getting it anytime soon. Second reason: even if the feds agree to the current plea for direct funding for the rebates, it will be years before 2007 tax returns, to which the rebates are keyed, are processed. Guam taxpayers routinely wait years for tax refunds. Guam's Revenue and Taxation Department is currently working to process returns as far back as 2004. So, even if the money were to appear in the GovGuam coffers overnight, it couldn't be distributed for years. Those concerned about the propriety of rebates to those who pay no federal taxes can rest easy where Guam is concerned: it's doubtful whether any will ever reach the intended recipients, and even if it should it'll be years down the road. One more juicy item: Guam also recovers from the federal government annually all taxes paid by federal employees, military personnel, and anyone else who works in Guam, regardless of where they file.

Terry...I hadn't even hit kindergarten yet in the 70's.
:) So I haven't had to live through that. I just know that things are not adding up these days. I'm angry. I want someone to blame. Might as well start with the government (chosen by people like myself, I know, I know)
I DO know that my dad supported 4 kids on just under $30K, 2 of us going to a private school for 8 years, and with prices being what they are now, I'd have to say that to live the lifestyle equivalent to what we did then, with that size of a family, a person would have to make roughly $75K. I have no clue as to what inflation would equate $30K from say, 1985 to in "today's" money, but I don't think it would be $75K. I'm frustrated. Somethings gotta give. A one-time tax rebate isn't gonna do it.

My debt is so heavy right now because of our inadequate health care "infrastructure" that I'll be in the portion of pie chart who will be using their rebate to pay down credit card debt. If I qualify for the $600.00 amount, it will pay down less than 10% of what I am carrying right now at an average of 15% APR interest rate and I consider myself lucky.

It would be terribly irresponsible for me and others not to do so.

everyone knows this is a tax advance right. the money we get will be deducted from our 2009 tax returns

Kristie - welcome to the generational ponzi scheme known as Social Security. Sorry your's and Andrea's generation is going to have to pick-up the tab.

Andrea - since it sounds like I have been around the block a couple more times than you, gov't capping prices is not one of them. The 70's were not of our prouder economic periods.

As far as your energy/utility costs, if the gov't would get out of the way of the energy companies and let them drill in ANWAR and off-shore. Allow easier ability for refineries to operate, energy prices will decrease. Get out of the way of electric utilities and let them build nukes, electric costs will go down also.

As far as your parents doing more with less - think about the things your parents did withour that you may have: monthly cable bill, monthly internet bill, monthly cell phone bill, cost of personal computers, dvds, etc... Get rid of those "necessities".

Finally, the tax burden on American families are higher now than they were when you dad was raising you. In 1970 there was a 30% tax burden on the American family, today its over 32.5%. Only a 2.5% increase, but that is $1250 on an income of $50,000. Could you use a additional $1250 EVERY year and not the occasional rebate?

Ok So someone whip out the Calculator so we can figure out how much we get with our kids plus income bracket!!
Show me the money!!!

Many people do not realize that even the disabled/retired people are tax-payers. There are sales taxes, personal property tax (in some states), and many other things disabled/retired people pay. Just because they don't pay all at one time does not mean they don't pay taxes. For example, a person with maximum SSI earned $7,486 in 2007 as thier ONLY source of income. Just counting sales tax (Here .06%) $448.56 goes to sales tax alone. However as far as I understand, a person who claims a disabled person collecting SSI as a dependent will not recieve any rebate under Bush's Act. For everyone that is complaining about non-taxpayers getting a rebate need to think more about people that are having kids, not working, getting food stamps and welfare, getting $300 for each child! That is what does not seem fair to me considering I'm sure taxpayers already pay for the child's schooling, food, medical care, and clothing.

Is the President stupid or what, lets give Americans money that we dont even have and will end up barrowing from China. Do we need our national debt to be any higher? Some day China will end up owning us because we can't pay them back. Oh, And When youn get your check, be sure to save it because you will end up payimg it back next year when you file your taxes... Bush, you are the worst President this country has ever had. We were better off before you came into the picture..

No where on the IRS website could I find information regarding this "refund" as an advance that will be paid back in 08. Under the NOTICE section it said to save the paper work that comes with it for your 08 taxes. There could be many reasons for this. Maybe we will be taxed on it as part of our income. Who knows? If someone could post a link to something that actually says this is a loan on your 08 taxes I'd like to see it

Even if it is more of a loan than a "gift", who cares? It's interest free, in the very least. The smart American will use it toward student loans, cc debt, or invest it for the next year. Any way you see it, there's a possibility to gain on the transaction.

While I don't pretend to know anything about economics, price capping definitely sounds like a bad idea. And taxes are high, but haven't we been complaining about this for YEARS now? So what's new... food prices are going up. To begin with, the calcium in milk isn't even digestible. Guess what? It's not as nutritious as the "Got Milk" campaign would have you believe. So stop buying it. Then there's always the solution of growing a garden. Seems incomprehensible to some people, but hey, you're paying good money on that mortgage. May as well use your backyard for something productive.

Goodness, folks! While "The Man" or whatever you want to call it REALLY IS evil, there's only so much that you and I can do about it. So stop your fussing and roll with it.