Tax Rebate Incentive Checks

[Kevy Baby]

I posted this in another thread, but I thought I would show it here as well.

In case you were wondering when you would get your rebate check:

The IRS has announced that it will start sending the economic stimulus tax rebate checks starting on May 2, with the first round of weekly payments to be completed by early July. In addition, the IRS has launched an Online Tax Rebate Calculator to help people determine the amount of their rebate check.

Rebate check direct deposit or mailings will be made according to the last two digits of your Social Security numbers as follows:

Direct Deposit: Depending on the last two numbers of your Social Security Number, your rebate should be deposited by:

00-20: May 2
21-75: May 9
76-99: May 16

By Mail: Depending on the last two numbers of your Social Security Number, your rebate check should be mailed by:

00-09: May 16
10-18: May 23
19-25: May 30
26-38: June 6
39-51: June 13
52-63: June 20
64-75: June 27
76-87: July 4
88-99: July 11

I found a lot of information about this (including the above) here (http://usgovinfo.about.com/od/incometaxandtheirs/a/rebates2008.htm).

[Ghoulish Delight]

Hmm, I must have opted for a paper check since I'm in the first group of SSNs and have not received the direct deposit.

[Snowflake]

I'm in the last group. I'm not expecting much of an incentive. That said at least I won't be spending it on gas! That's my happy thought for the day!

It may go in my mad money fund for either a long overdue LA trip or new electronic gadget (laptop)

[BarTopDancer]

Copied my reply from the other thread:

The IRS has also said they are 4 days ahead of schedule. Per that, I should have had my money by now - but at the latest (according to the schedule) I'll have it Friday. Married couples filing jointly are based upon the first filers SSN.

There is some weird thing if you e-filed using Turbo Tax and paid certain fees through Turbo Tax you will get a paper check, but I'm not sure how that works.

If you otherwise had your return direct deposited, you will receive your money via direct deposit. There is a "where is my rebate" link on the IRS website.

[Moonliner]

So what are you planning to do with your rebate check?

A) Follow George's plan and blow that sucker on consumer goods

B) Put it in the tank.

C) Put it in the bank

Other?

[BarTopDancer]

So what are you planning to do with your rebate check?

A) Follow George's plan and blow that sucker on consumer goods

B) Put it in the tank.

C) Put it in the bank

Other?

Other - PAY OFF SHINYCAR! Paid off in a over under 2 years. I wonder how much $$ I saved.

[JWBear]

So what are you planning to do with your rebate check?

A) Follow George's plan and blow that sucker on consumer goods

B) Put it in the tank.

C) Put it in the bank

Other?

Bill wants us to donate ours to the DNC. :evil:

[CoasterMatt]

So what are you planning to do with your rebate check?

A) Follow George's plan and blow that sucker on consumer goods

B) Put it in the tank.

C) Put it in the bank

Other?

I'm getting a Wii.

[Capt Jack]

camping trip and car parts.

<shrug>

[Gemini Cricket]

Were we supposed to have signed up for this? Or does it just come?

[BarTopDancer]

It is based upon income, and it is automatic.

If you are single and made under $75,000 last year you'll get $600 back.

[Ponine]

Were we supposed to have signed up for this? Or does it just come?
Its automatic IF you filed taxes for 2007.

[Gemini Cricket]

I filed!
Gimme Gimme Gimme!
:)

[Ghoulish Delight]

I owed, so I didn't give any direct deposit info. Thus we'll be getting a mailed check. It'll go into our bank account and we'll continue our normal spending habits.

[Kevy Baby]

It is based upon income, and it is automatic.

If you are single and made under $75,000 last year you'll get $600 back.If you want to figure out how much you will get, the IRS has a calculator here (http://www.irs.gov/app/espc/).

[scaeagles]

I owed, so I didn't give any direct deposit info. Thus we'll be getting a mailed check. It'll go into our bank account and we'll continue our normal spending habits.

I spent mine already on my trip to Orlando. Will go back into short term savings. And I also owed, so I'm not looking at getting in until it gets mailed.

[JWBear]

I don't get mine until July. Not fair!

[tracilicious]

It is based upon income, and it is automatic.

If you are single and made under $75,000 last year you'll get $600 back.

No, $300.

Married couples get $600, plus $300 for each kid. We got ours Monday.
:cheers:

[Capt Jack]

oh....

then just camping

[Ghoulish Delight]

No, BTD is right. Maximum is $600 for single, $1200 for married filing jointly. Plus $300 for each dependent.

If your adjusted gross is over $75K ($150K for joint), you get $600 ($1200)-5% of the amount over that limit. So if your adjusted gross is $80K, 5% of $5K is $250, so the rebate would be $350.

[Kevy Baby]

I don't get mine until July. Not fair!That's because you are a Democrat.

:D

[tracilicious]

What?! I think I got screwed!

[scaeagles]

I'm a republican. I won't get mine until July. So much for that theory.

[Gemini Cricket]

Gimme Gimme Gimme!
No one bit.
No one posted "...a man after midnight."
:D

[Prudence]

ooooh... a wii.....hmmmm....Let's see - I have to recover from the DC expenses and make sure I'm okay to cover up-coming student loan payments, but assuming that's all okay I might go for a wii finally.

(The spousal unit wants an xbox, but that's the one console I have no use for. a PS3 (or whatever number they're on now) has the blu-ray bonus and a wii has the "fun for me to play" bonus. xbox? That's all about his style of gaming and they sound like more trouble than they're worth.)

[tracilicious]

Ok, I have figured it out. Education credits for Michael and myself got us a pretty decent refund this year, but made our tax liability so low that we got $600 as a couple instead of $1200. Eh, oh well.

A girl Michael works with got $300 instead of $600 because her tax liability was low because her income is low.

[BarTopDancer]

ooooh... a wii.....hmmmm....Let's see - I have to recover from the DC expenses and make sure I'm okay to cover up-coming student loan payments, but assuming that's all okay I might go for a wii finally.

(The spousal unit wants an xbox, but that's the one console I have no use for. a PS3 (or whatever number they're on now) has the blu-ray bonus and a wii has the "fun for me to play" bonus. xbox? That's all about his style of gaming and they sound like more trouble than they're worth.)

Meh, get both. Keeps you both happy. You can play with us while he plays whatever he plays on the xbox.

[Prudence]

Meh, get both. Keeps you both happy. You can play with us while he plays whatever he plays on the xbox.

Well, there is the "one functional teevee" issue....

[Fab]

Used tv just for gaming from Craigslist: 20.00
Getting to pick turnips on Harvest Moon while Alice is on Brawl: Priceless.

[BarTopDancer]

Well, there is the "one functional teevee" issue....

Well get a 2nd one. :p

[JWBear]

That's because you are a Democrat.

:D

Another thing you can thank GWB for. ;)

No one bit.
No one posted "...a man after midnight."
:D

My first thought was Grampa Simpson.

[Ponine]

Used tv just for gaming from Craigslist: 20.00
Getting to pick turnips on Harvest Moon while Alice is on Brawl: Priceless.

I second that!

[Nephythys]

(The spousal unit wants an xbox, but that's the one console I have no use for. a PS3 (or whatever number they're on now) has the blu-ray bonus and a wii has the "fun for me to play" bonus. xbox? That's all about his style of gaming and they sound like more trouble than they're worth.)


I thought this- I bought them an XBox Christmas before last- I did not play anything on it til last September/October- and now it is the main console I play. :) I love getting achievements!

Second to that is the Wii- but it does not get as much play. I really should play it more though-

Our XBox did recently suffer the ring of red lights and had to be shipped back- had a new one back in just over a week. :)

[blueerica]

They were reporting a couple of weeks ago that the first of the checks were arriving that day, so I figured they were about two weeks ahead rather than just four days.

At any rate, it'll be a while before I see mine. I'm snail mail and in the middle of the pack. Damned SSN!

[BarTopDancer]

And now there are reports that banks are flooded with them and while the IRS is ahead of schedule, the deposits are being held up at the banks.

Maybe they'll arrive right on time.

[Gemini Cricket]

Sadly, I have to pay a friend back with my rebate money.
He spotted me some rent money way back when.



Bleh.


:)

[Kevy Baby]

We're due to get ours by tomorrow (we e-filed using Turbo-Tax with a rebate), but so far nothing.


ETA: I just used the IRS site (https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC) to see where it is at:
Where's My Stimulus Payment https://sa1.www4.irs.gov/irfof/images/en/1x1-grey.gif


This table describes the status of your refund
Social Security Number: ***-**-**30

Your total Stimulus payment was calculated as $XXX and consists of the following:

Basic Amount: $XXX.
Qualifying Child Amount: $0.00 (Based on 0 qualifying children).Your payment of $XXX is scheduled to be deposited to your bank on May 9, 2008. If you do not receive the credit by May 14, 2008, please contact us again. We are unable to take any action until then.

[MouseWife]

Argh. I guess that clog at the bank is what is holding up our rebate.

Bummer. It will probably go to switching insurances {usually when you switch, they require a larger down payment, no?} or helping the kids do some things they need to have done.

I'd like to do a bit of yard work with it, simple things to make the place a bit more inviting.

Nephy, ah, you had the death rings, or ring of death. My older sons' Xbox has had it a couple of times but the younger sons seems to be safe, so far. I think it doesn't have entirely the same capabilities, smaller gigs? {okay whatever you call the memory...}

Anywho, we fall within the first numbers and nada yet. Phooey.

Thanks for the info and the links to check things out with. :snap:

[Gemini Cricket]

A couple of people in my office just got their checks deposited to their bank accounts...

[Snowflake]

Social Security Number:
***-**-**98 Filing Status:
Single Number of Exemptions:
1

We are sorry. Specific information about your Stimulus payment is not available.

:-(

I e-filed in February......poo-heds

[MouseWife]

I had the same response, Snowflake. I was just worrying I had gone to a bogus site because, like you, I filed a long time ago!!!

But our numbers are 10. It says that there won't be notice of it unless it is about one week out?

Phooey.

[Gemini Cricket]

Ching ching!

Mine was deposited this morning. Thanks, Uncle Sam!

And now it's gone.

:)

[BarTopDancer]

Mine too. And monies went to Shiny Car. She'll be mine.. mine.. ALL MINE next month.

[Capt Jack]

:(

nada...wonder what I did wrong

[Alex]

I'm starting to see a backlash. I've run into a surprising number of people who apparently didn't pay much attention beyond the initial "1200 per couple" and no idea that it dwindled to nothing for incomes above a certain limit.

So they went and spent $1200 in anticipation and are now very upset with their $214 (or whatever) check they actually got.


On the plus side, though, this is great economic stimulus. The government "tricked" them into spending $1200 and it only cost taxpayers 10% of that.

[Kevy Baby]

Ching ching!

Mine was deposited this morning. Thanks, Uncle Sam!

Mine too.Got mine too.

[Cadaverous Pallor]

I'm starting to see a backlash. I've run into a surprising number of people who apparently didn't pay much attention beyond the initial "1200 per couple" and no idea that it dwindled to nothing for incomes above a certain limit.

So they went and spent $1200 in anticipation and are now very upset with their $214 (or whatever) check they actually got.


On the plus side, though, this is great economic stimulus. The government "tricked" them into spending $1200 and it only cost taxpayers 10% of that.Hah. I could rant for days on how there are so many stupid people that have no idea how to handle money. The standard "spend it before you even have it" logic is beyond me. :rolleyes:

Have you ever heard interviews with the people that got "scammed" into those bad mortgages that destroyed our economy? "I didn't read the fine print." "I assumed it would be ok." "I'm so surprised this happened to me!" These morons, and the morons that provided them with loans, have screwed this entire country. Grrrr

[Moonliner]

These morons, and the morons that provided them with loans, have screwed this entire country. Grrrr

Well not quite the entire country. There are a few people who are benefiting greatly from the real estate downturn....

First time home buyers (with good credit), people looking to invest in a second/vacation home, Landlords with rental properties, etc....

[BarTopDancer]

First time home buyers (with good credit)

And 20% down if you live in Orange County and several other areas.

I was looking into buying a condo a few years ago. I talked to my friends mortgage broker. He kept trying to push me into an interest only ARM. I'd be one of those screwed right now had I done it.

[Gemini Cricket]

Hah. I could rant for days on how there are so many stupid people that have no idea how to handle money.
I have to admit, I'm one of those people.
:blush:

[MouseWife]

On the plus side, though, this is great economic stimulus. The government "tricked" them into spending $1200 and it only cost taxpayers 10% of that.

Ha, I had a thought like Alex. I work retail and I have heard people talking about how they were going to spend theirs, too, or that they are spending it. Yep, it sure did get people back into buying but it is bs.

I figured it would just help out, with everyday expenses rising, it isn't practical to blow it.

I've been calling to see if I can get a room {as opposed to housekeeping camp} for this weekend. The only thing available? The Awahnee. It would be almost $1,000 for two nights. Wow, just about the amount of what ever check we are supposed to get. But, I figure nah because we aren't intending to be in the room except to sleep {wait, what am I saying?} and so why waste that money?

I am horrible with money. I'll go hang out with Gemini Cricket, Brad, and whomever else falls into our clique. :blush:

Still nada for us.

[BarTopDancer]

I'll be in the bad with money clique too. Dumping this, and my tax refund (because giving the government an interest free loan is easier than paying in April) towards the principal of my car were a few of the smartest financial moves I've done lately.

[MouseWife]

BTD~ those are some fantastic financial moves! Big ones, so, they definitely redeem you.

The best thing I've done? Well, one, not stock up at the REI sale but second, I had financed my bed. One of those interest free loans up until a certain date? I didn't pay their minimum {which of course would have never paid it off in time} and paid it off a couple of months early. That felt good.

And, my son, he had wanted a nice television. Well, we financed a t.v. for him and told him even though they asked for $10 minimum, he was paying at least $100 a month. That got him just under the wire for having to pay the interest. He did it so we have allowed him to finance a laptop. He knows how important it is to not have to pay that interest so he is making big payments towards this, too.

This, though, is another way that they get people. The interest on the bed if I hadn't paid it? I think it was about $300. Maybe only $200 but still. And, my son would have had a balance of over $400. on his t.v. if he hadn't paid it. And then they'd have added interest to that balance, as well.

A lot of people don't see that minimum due on these type of loans and see if it will have the loan paid off...never does. Even this bed, it was higher than the t.v. but still not enough to pay it off.

Oh, I digress....

Congrats on getting closer to paying off your car!!!

[Moonliner]

I think I'd have to put myself in the somewhat anal (but in a good way) money management school.

My personal philosophy has always been to avoid credit card debt like the plague and refrain from purchasing any consumer goods like electronics or furniture on any type of payment plan. I had a futon for years until I had the cash for a nice bedroom set.

When I first started pulling in a professional salary, People suggested I get a new car. I kept my junker instead and for almost three years made regular monthly payments to myself. Then I used that to purchase a new car.

It's tough sometimes, I was well into my 40's before I purchased my first really cool TV (46" LCD 1080p goodness) but overall it has left me with no real money worries along with the ability to have the occasional VIP splurge and that is well worth the cost....

[Gemini Cricket]

Monthly payments to myself. I like the sound of that.
:)

[Moonliner]

Monthly payments to myself. I like the sound of that.
:)

At the time I had a seperate savings account with an automatic monthly draw from checking. It made it easier.

[Kevy Baby]

I think I'd have to put myself in the somewhat anal...Does this mean you are only a partial pain-in-the-ass?

Monthly payments to myself. I like the sound of that.Yeah, but wait until you see what happens when you skip a payment :eek:

[Strangler Lewis]

Apparently there was an NPR piece about how the government was targeting people who would "waste" their stimulus payment on paying down credit cards rather than buying something with it. So the IRS would spend their rebate for them. One couple got a snowblower. Another couple got an air conditioner. As to the latter, the husband was thrilled but the wife was annoyed because not only did they not get cash, their electric bill would go up.

Alas, the report aired on April 1.

[Cadaverous Pallor]

Well not quite the entire country. There are a few people who are benefiting greatly from the real estate downturn....

First time home buyers (with good credit), people looking to invest in a second/vacation home, Landlords with rental properties, etc....If the first time buyer works any job except landlord, and the landlord is a consumer, then they are affected by this downturn.

I was hearing about how there are other stupid culprits here...businesses that opened way too many franchises during the upturn, with big names like Ann Taylor and Footlocker closing stores. My city's gov't lost $2 mil last year, so that will affect a lot of gov't services (and jobs) across the board.

Everyone is affected by the stupidity of others. I'm going to try to be smart, if only for the good of the nation.

[JWBear]

I still like Bill's idea of donating it to the DNC.

[BarTopDancer]

A lot of factors contributed to where we are now.

The lending (predatory or not) industry was offering loans to people who never should have been offered them. Credit card companies were extending huge lines of credit to people who they [should have known] would have to struggle to pay it back if they could.

In some aspects the government is hellbent on protecting us from ourselves - seatbelt and helmet laws, warnings on ciggs and alcohol, drugs are illegal. And in other aspects (such as finances) being irresponsible is basically encouraged.

People can't be trusted to do the right thing by themselves when it comes to seat belts, helmets, smoking and drinking but they can be trusted to handle finances?

The consumer is at fault for making poor choices, not reading the fine print and being generally stupid. The government is at fault for not putting a stop to $500,000 mortgages being offered to people who make $40k to begin with. It doesn't take a moron to see that even if the buyer can make the interest only payments at the current rate, there is no way they'd be able to make the payments when it adjusted into principal and interest payments, or if the rate went up.

I'm conflicted if there should be a government bailout or if the people who didn't read the fine print, who didn't understand what they are getting into should have to deal with the consequences. I do think that this type of lending will not happen again. I do think that we're in for worse times before it gets better. I do not think that this stimulus package will do anything but boost spending for 2 months.

We're going to see more mall stores, more Starbucks (why did we need one on every corner?), more hole in the wall places going out of business. I know I am making more of an effort to support the places that aren't corporate owned when I do spend money. But the times I spend money on luxury items are becoming fewer and further between.

[Kevy Baby]

I'm conflicted if there should be a government bailout or if the people who didn't read the fine print, who didn't understand what they are getting into should have to deal with the consequences.I'm not conflicted at all. Caveat Emptor.

[Moonliner]

Does this mean you are only a partial pain-in-the-ass?



Oh trust me. I'm a full time pain-in-the-ass. Really. I have references if you need them.

[Kevy Baby]

Oh trust me. I'm a full time pain-in-the-ass. Really. I have references if you need them.I have a gut feeling I can trust you on this one.

[Prudence]

I am soooooo glad that we bought far less "home" than we could have. Even with the current market downturn ours has appreciated enough to cover all of our debts, were we to sell right this moment. Including my giant ass student loans.

Yes, I'm boasting.

It was pure luck, though, that we bought when we did, right before the market really took off but when the interest rates were still low, and a place that was really undervalued, thanks to the decorating habits of the prior owner, in an area that is now becoming increasingly more desirable. Couldn't have done it on purpose, but I sure am glad I did it on accident.

And our rebate arrived today! Probably should get the car serviced first, so that we don't pull a katiesue on the freeway, but then I see a wii in my future.

[Cadaverous Pallor]

I'm not conflicted at all. Caveat Emptor.Yeah, buyer beware, but also Everyone Else Beware, because we're at the mercy of the stupidity of these buyers.

BTD may be right that this exact type of lending may not occur again (in living memory), but this isn't the first time that stupid financial practices by companies and stupid financial decisions by consumers have screwed everyone over. It will happen again and again, in some form.

[Nephythys]

R's hit the bank today. Mine should be next week-

[Kevy Baby]

Yeah, buyer beware, but also Everyone Else Beware, because we're at the mercy of the stupidity of these buyers.

BTD may be right that this exact type of lending may not occur again (in living memory), but this isn't the first time that stupid financial practices by companies and stupid financial decisions by consumers have screwed everyone over. It will happen again and again, in some form.Speaking simply for myself (and myself only), I have suffered no ill effects of the mortgage fallout. In fact, I saw it coming and intentionally worked my way around it (intentionally did not buy a house, made sure that we were not extending ANY form of credit to our mortgage banking clients, etc.). Too many people took a huge risk with expectations of coming out on top and they are suffering the consequences of their (bad) decisions.

But I know that it has had an effect on the national economy and many MANY people. But the recession (or whatever you want to call it) that we are currently in is not just the fault of the mortgage business collapse. Our economy has its ebbs and flows and there will naturally be upturns and downturns. This too shall pass.

[Cadaverous Pallor]

This too shall pass.True, after thousands of stores are shuttered, tens of thousands of jobs disappear, hundreds of thousands lose their retirement through stock market instability (I have a coworker who is retiring that now realizes their stockpile isn't quite what it was 5 years ago), etc etc etc.

I'm seeing it at my job. I'm seeing us put a hiring freeze in effect, which means that empty positions will remain empty for now, meaning worse service, meaning more stress for those that stay on, meaning less jobs to be had in general. The hiring we absolutely need is going through still but that could change next year. Who's applying for the jobs? The flood of mortgage industry refugees, meaning it's harder for anyone to get a job. I see this and I think beyond my one specific instance to the countless instances across the country.

Yes, this all will pass, like floodwaters - with disaster in the wake.

If you think you aren't affected, you are wrong. You buy goods and services, you have a job of any kind, and you are affected. Perhaps not as badly as someone who worked for Countrywide and purchased an ARM, but still, you are affected.

I hate the fact that we have to regulate against stupidity. But we do. Stupidity is real and has obvious effects.

[Kevy Baby]

And it is all part of evolution.

A brush fire is a disaster. Yet, it is part of the evolution of the land. Brush starts getting too thick and it starts choking itself to death. A fire comes through and returns the soil to a more nutritious state so that the plants can come back healthier than they were before the fire.

The flood had to go through. The waters could not run that swift that long. Yes, it is unfortunate, and yes, there may be some casualties. If you planned for the possibility: good for you. You probably survived with minimal impact. If you thought you could just blindly jump into the middle of it without considering the consequences, I have little sympathy for you. You've been washed out to sea and can swim back and start over. But most can just mop up and move on.

We cannot protect a society against itself: it WILL be destructive to itself. Yes, there will be sob stories (I have been one of them). But society (and the economy) will come back stronger and smarter than it was before. And yes, there will be more disasters again in the future - you can plan on it!

There are no get-rich-quick schemes. One gets ahead - be it personally, fiscally, professionally - through hard/intelligent work.

A little saying that I try to live by is:
You get better or worse each day: it's your choice.
What choice have you* made today?
What choice will you make tomorrow?





*And by you, I am not directing this to CP specifically - it applies to the reader, whoever they happen to be.

[GusGus]

[/INDENT]What choice have you* made today?
What choice will you make tomorrow?


I chose to read LOT today.
Perhaps I will again tomorrow.

[Kevy Baby]

I chose to read LOT today.Has that made your life better or worse?

[GusGus]

Hmmm... how do I respond without kickin' your ass?

[Kevy Baby]

Hmmm... how do I respond without kickin' your ass?I'm just sitting here...

[GusGus]

shouldn't you be working?

[Kevy Baby]

shouldn't you be working?Probably

[Cadaverous Pallor]

And it is all part of evolution.

A brush fire is a disaster. Yet, it is part of the evolution of the land. Brush starts getting too thick and it starts choking itself to death. A fire comes through and returns the soil to a more nutritious state so that the plants can come back healthier than they were before the fire.

The flood had to go through. The waters could not run that swift that long. Yes, it is unfortunate, and yes, there may be some casualties. If you planned for the possibility: good for you. You probably survived with minimal impact. If you thought you could just blindly jump into the middle of it without considering the consequences, I have little sympathy for you. You've been washed out to sea and can swim back and start over. But most can just mop up and move on.

We cannot protect a society against itself: it WILL be destructive to itself. Yes, there will be sob stories (I have been one of them). But society (and the economy) will come back stronger and smarter than it was before. And yes, there will be more disasters again in the future - you can plan on it!

There are no get-rich-quick schemes. One gets ahead - be it personally, fiscally, professionally - through hard/intelligent work.

A little saying that I try to live by is:
You get better or worse each day: it's your choice.
What choice have you* made today?
What choice will you make tomorrow?





*And by you, I am not directing this to CP specifically - it applies to the reader, whoever they happen to be.Dig. I must still maintain though that I'm pissed that someone else's manufactured flood has to get my shoes wet, even if I don't drown in it.

[€uroMeinke]

I suppose it's a bit of a prisoner's dilemma - if everyone's virtuous every one gains a bit. if no one is virtuous, everyone looses - but if there's a mix, it's at the virtuous one's expense.

[Ghoulish Delight]

And it is all part of evolution.Sorry, but I can't agree with that analogy. The economy is NOT the same as a natural occurance. The economy is 100% artificial, existing entirely within our heads. It is an immensely useful and powerful artificial construct that certainly allows for vast, beautiful human interaction, but it is not a force of nature, it is purely a result of human action. Ebbs and flows are caused by humans, not some outside force of nature. We created it, we control it, we ARE it. So I do think we have a responsibility to attempt to administer to those ebbs and flows so as to minimize the negative impact to living, breathing human beings as much as possible while still retaining its usefulness as a tool for human interaction.

In my partially educated, and not very humble opinion, there are 2 major contributors to the state the economy is in.

One is an unhealthy obsession with the stock market. It's to the point where the only thing that matters is for a company to increase its stock in the short term. Every decision is made to appease the short-term interests of the stock holders. Decisions that would be better for the long term health of a company are routinely passed by for fear of hurting their immediate stock price. That leads to MASSIVE volatility.

The other is the impunity with which a select few people who have the most direct influence on the economy have. Heads of major investment firms, through whom the vast majority of money eventually flows, are free to gamble with that money as they please, knowing that their absolute worst case scenario is a couple weeks in the headlines and multi-million dollar retirement package. Their cavalier miscalculations, mistakes, and wild ass guesses unquestionable have the power to move markets and ruin lives, and they can do it consequence free. Until that changes, we will always be on the brink of disaster.

[wendybeth]

Great post, GD, and I agree. Not only do I agree, but I've seen that scenario played out at a local level and it wasn't pretty. (The place where Eric used to work). It's all about greed, instant gratification for the privileged few, and damn the costs to anyone else. Economies are constantly being manipulated by special interests- look at OPEC. There is no shortage, no excuse for the marked increase in crude oil excepting profit motive. They'll do it as long as they can get away with it, and never mind that it is leading to massive food shortages and privation for many of the world's people. I'm all for getting a good return in business, but this is something different. It's a bit sinister, the timing is very suspicious, and one can't help but wonder wtf the cartel is trying to pull off. Yet Bush would have you believe that these people (excepting Venezuela) are our friends. No, they are not- they are business people manipulating the world economy into a very precarious state and I think we need to do what we can to counteract that. If we just sit back and let the fire burn, we will burn as well.

Lots of people who have been very careful with their money are in trouble now, not just the high rolling speculators. We had credit controls in place to prevent usurious and unscrupulous lending practices from occurring, but that all went to hell with this administration. Same goes for the energy deregulation- look how well that turned out. Anyone remember the savings and loan fiasco? The list goes on and on. Things that are regulated are often that way because of past abuses with catastrophic consequences- many of our banking rules stem from the Great Depression era, and with good reason.

Oh, and to get back on topic.....We got our 'rebate' today. It went to bills.

[JWBear]

I've heard a free market economy likened to fire. If contained and regulated, it can be of great benefit. But uncontrolled and unconstrained, it can destroy everything in its path.

[RStar]

On word


TV

Of course I will need to put up the other $1,000 to get the 52" flat screen LCD, but it's a start. I'm such a simplton. ;)

(I feel like I'm derailing this thread a bit......)

[BarTopDancer]

KB and CPs posts are both way to long to quote, so scroll up for a refresher.

This too shall pass.

True, after thousands of stores are shuttered, tens of thousands of jobs disappear...

In the mean time, the rental market has gone sky high, demand is rising as supply is waning because it's being flooded with people who are losing their homes. People in the real estate and lending industry are being laid off, as are people in the service industry. How many of those will be able to pay their rent or mortgage for longer than a month or two? Savings is at an all time low while debt is at an all time high in this country. Where are these people going to go when they can't make rent or their mortgage payment?

We also have a hiring freeze. People are being overworked, stressed out and the it trickles down in to effecting home life. Our clients are putting more pressure on their employees and ours to cut down on costs while expecting the same level of service they received before we laid off 25 people (small company, that's a lot). Two of our competitors are about to go under. I work in a specialized industry (my company, not my position). What will happen to those people?

It's easy to say you're (general, not just Kevy) affected by this. But we all are. We're all in this together. The choices that other people make about their finances will effect us all. If enough people choose to stop going to eat at the favorite hole in the wall around the corner it's going to go out of business. What will happen to those people? The trickle down effect from this mess scares me.

[Gemini Cricket]

I keep reminding myself that I did the right thing. I'm paying off a debt. I'm paying off a debt.
:)

[katiesue]

I just talked myself out of using mine for an HDTV.

[JWBear]

I keep reminding myself that I did the right thing. I'm paying off a debt. I'm paying off a debt.
:)

No, no, no! It's patriotic to spend, spend, spend! Our president told us so.

[Moonliner]

No, no, no! It's patriotic to spend, spend, spend! Our president told us so.

Perhaps you could spend in on a donation to the Obama campaign.

[Kevy Baby]

I just talked myself out of using mine for an HDTV.Call me: I'll talk you back into it.

[RStar]

Call me: I'll talk you back into it.

Me too. :D

I just talked my self out of the 52" HDTV.

I think I'll go with the 42". I just measured my old Tube TV, and found that it is only 27". And the 42" will be covered by my insentive check, and in fact Howards TV will take an additional 10% off if I use my check there.

[lindyhop]

After reading all the posts and explanations I have no idea how much I'm getting or when. My plan is to put whatever money I get in my puny little "saving for a new car" savings account.

I find it disturbing that we have an economy that seems to require that we buy stuff to keep it healthy. And by buying more stuff we use up more resources and pollute more and put our future in jeopardy. But if we're prudent and stop buying so much junk the economy will crash. At least that seems to be how it works.

The latest This American Life is devoted to trying to explain how we got into the current credit crisis. It's the most coherent explanation of an insane situation I've heard, a great program. Check it out.

[Kevy Baby]

After reading all the posts and explanations I have no idea how much I'm getting or when.
Single and made less than $75K per year: you get a $600 rebate
Married and made less than $150K per year: you get a $1200 rebate
(Above those amounts, the rebate starts to decrease on a sliding scale.)
In addition, you get $300 per dependent child.See the first post in the thread (http://www.loungeoftomorrow.com/LoT/showthread.php?p=209054#post209054) to see when you will get your rebate. Basically, those who had their regular tax rebates deposited into their bank accounts electronically will get their incentive checks first.

[Snowflake]

Okay, mine will be in the bank on the 15th (or no later than the 20th) according to the IRS site.

I will bank it for the time being. I might apply to CC debt, I would think this is a good sue for it. Pay down debt (repeat until debt is paid down) I know I will be happier in the end.

[lindyhop]

I don't need no stinking website.:) Today I got a notice in the mail from my friends at the IRS. They say I'm getting $600 and I should receive it by the 16th. You'd think they could have enclosed the check and saved some postage.

[GusGus]

We got a similar notice today as well. Personally, I think that already having the money in the bank was notice enough.

[Ghoulish Delight]

Yes, we too have been similarly informed that we are to be prepared to start expecting the date after which, some time within 6 months, a check may or may not come or money may or may not be deposited into our account.

I'm feeling very stimulated.

[CoasterMatt]

I was asked by a reporter today what I planned to do with my check; I don't think they'll use my response.

[Mousey Girl]

Still no money here...

[Moonliner]

I was asked by a reporter today what I planned to do with my check; I don't think they'll use my response.

Which was?

I would have answered: Donate it to Obama.

[Mousey Girl]

I finally found the answer as to why I didn't have my check. Because I had the preparation fees witheld from the return I will be getting a paper check in June.

[Moonliner]

Apparently mine is being held until I actually get around to filing.

Bastards.

[Not Afraid]

I bet we got one and Chris spent it all on good liquor.

[Kevy Baby]

I bet we got one and Chris spent it all on good liquor.If you could claim your pets as dependents (and why can't we?) you would be filthy stinking rich!

[blueerica]

I just wish they'd tell me WHEN!!! They're not even telling me that. /sniffles

[Not Afraid]

It seems my pets cost me a much as having a child. I think they should be dependents.

[BarTopDancer]

I just wish they'd tell me WHEN!!! They're not even telling me that. /sniffles

What are your last 2 and did you e-file with fees withheld?

[Moonliner]

It seems my pets cost me a much as having a child. I think they should be dependents.

How much does sending a cat to college cost these days?

[Not Afraid]

How much does sending a cat to college cost these days?


Quite a bit! The bribes to the Dean alone are thousands and thousands!

[€uroMeinke]

I bet we got one and Chris spent it all on good liquor.

I wish it were true, but filling late and writing a check for about 3 times the rebate means we remain dis-incented till some time in June. Then maybe I'll buy a round of drinks...

[Motorboat Cruiser]

Got this emailed to me today, thought it was amusing.



The federal government is sending each and every one of us a $600 rebate.

If we spend it at Wal-Mart, the money will go to China .

If we spend it on gasoline, the money will go to the Arabs.

If we purchase a computer it will go to India .

If we purchase fruit and vegetables it will go to Mexico , Honduras and Guatemala .

If we purchase a good car, it will go to Japan .

If we purchase useless crap it will go to Taiwan and none of it will help the American economy.

The only way to keep the money here at home is to spend it on prostitutes, weed, beer and tattoos since these are the only products still produced in the USA .Thank you for your help and please support the US .

[blueerica]

I got that same email and thought Hell, some of the best weed doesn't even come from the US. Some of the best beer comes from Europe. And I've heard a thing or two about prostitutes from overseas in both directions...

Tattoos on the other hand.. I have no idea where that ink still comes from.

That and we're moving away from production and into service as a nation (due to about a bajillionty reasons). So, simply because something isn't made here doesn't mean that we're not seeing a profit from it. That's what irks me about these emails - they don't take into account changes in our society and economy. Rather than taking the information and improving upon the situation with what we're 'best/better' at, people like my family members who send me emails about 50 times a day would rather gripe that we're not 'producing' anything any more. I want to tell them to leave their desk jockey jobs and get on the factory line if it's so important to them.

OK, so I've been made sensitive. To note, 50 emails is an exaggeration, but I do average about 20-25 emails a day, 50% of which are likely to be some form of propaganda.

Is it okay to put your family members' email addresses on a blacklist?

;)

[BarTopDancer]

Is it okay to put your family members' email addresses on a blacklist?

;)

Yes. It is also ok to delete without reading.

[blueerica]

I do that a lot, but the deletion has become tiresome.

That, and they've gotta be sick of getting CC'd on everything. ;)

Now, back to your regularly scheduled Tax Rebate Incentive Money Spending thread...

[Kevy Baby]

Is it okay to put your family members' email addresses on a blacklist?

;)I have pissed off many a family member by hitting reply to all with a link to Snopes (or other such source) pointing out the BS that they are spreading.

For some reason, I don't get many emails from my family any more.

[blueerica]

Oh, I did that once...

[Gemini Cricket]

I have pissed off many a family member by hitting reply to all with a link to Snopes (or other such source) pointing out the BS that they are spreading.

For some reason, I don't get many emails from my family any more.
I do that allllll the time. I consider it to be educating my family. Sometimes, I reply to every single person listed. That, in itself, can be up to 50 people or more.
:)

ETA: Also, some of these articles start with "Already confirmed by snopes.com". I ignore that too and double check it. It turns out to be a BS story.

[Cadaverous Pallor]

Here's another vote for Reply All Snopes action. Eventually they stop sending them to you.

[JWBear]

Hehe... I Snope my family too.

[blueerica]

I am mainly talking about the emails about "God", about how awful Muslims/terrorists/anyone-who-isn't-like-them are, about how if so-and-so is in office America will suffer some horrible fate-type emails that just aren't the kind of thing one gets to reply with a snopes link.

I just shake my head and hope that <insert relative here> isn't as hateful as they have made themselves out to be by forwarding such rubbish.

Anyhow, it's so far off topic... Sorry...

[Gemini Cricket]

My parents are funny (well, we all know that) they send stories to me all the time and tell me to look it up on snopes. Despite the fact that I send them to the site on a weekly basis, they can't seem to remember where it is or what to do when they get there. I guess I inherited my computer/internet retardation from my parents.
:D

[Gemini Cricket]

I am mainly talking about the emails about "God"...

I get those, too.

"If you stare at this picture and then look away from your computer, you will see Jesus floating in the air right before your eyes."

"Send this prayer to 10 people in order to get to heaven."

"The Statue of Liberty is really holding a bible in her hand."

"The Ten Commandments appear in the architecture of the Supreme Court."

"Muslims are evil.... blah blah blah."



When I get those, I continue the education process...
I also let the sender know where I come from and my own beliefs. They usually respond by saying that they'll pray for me... Oy.

[Alex]

While sometimes being misinterpreted as aloof and humorless is annoying I will say it is a boon in this regard.

Apparently people just don't even bother with me. I've never really had a problem with family, friends, or coworkers sending me stuff that needs to be snoped or otherwise debunked.

I did live for a while in an apartment building where the manager was always taping up the latest scare-du-jour by the mailboxes and frequently taped up my own response next to it.

[Moonliner]

My parents are funny (well, we all know that) they send stories to me all the time and tell me to look it up on snopes. Despite the fact that I send them to the site on a weekly basis, they can't seem to remember where it is or what to do when they get there. I guess I inherited my computer/internet retardation from my parents.
:D

How often do you talk with them?

Are they just using snopes as a way to get you to call more often? Parents can be sneaky bastards sometimes (at least this one is)

[Gemini Cricket]

How often do you talk with them?

Are they just using snopes as a way to get you to call more often? Parents can be sneaky bastards sometimes (at least this one is)
Once a week.
They usually ask me through email...
:D

[Ghoulish Delight]

The latest This American Life is devoted to trying to explain how we got into the current credit crisis. It's the most coherent explanation of an insane situation I've heard, a great program. Check it out.Finally listened. It really was well put together. I'm sure some details were glossed over, but they presented it in a way that made the whole cycle, from bubble to burst, make perfect sense (at least the mechanics of it. The actual decisions made still make no sense).

[Alex]

I listened to it as well, not many quibbles beyond the fact that I don't think it'll actually be understood in detail for years to come. Just as the "closing bell" reports that tell you why the Dow was up 8 points are just made up because there are too many factors to really sort them out, nobody ever does a really good job of explaining the economic conditions they are inside.

One gloss over they did that bothered me a bit is when they talked about the fraudulent income representation where the loan documents said that the former military guy was making $16,000/month when it was more like $5,000. And he said he had no idea that was what was claimed.

I'd have liked to seen that commented on because it either means the guy was lying or he didn't even read his loan documents (even after he got in trouble and began looking for a way to negotiate a better mortgage). It didn't need to be harped on, but in that short bit all of the fraud motive was put on the mortgage broker and I strongly suspect it was shared.

[Kevy Baby]

Anyhow, it's so far off topic... Sorry...Not if you believe that Allah is responsible for sending us our incentive checks

[BarTopDancer]

I do that a lot, but the deletion has become tiresome.

That, and they've gotta be sick of getting CC'd on everything. ;)

I'm sorry. I'll be sure to remove your mom from the distribution list.


Now, back to your regularly scheduled Tax Rebate Incentive Money Spending thread...

Now back.

/shakes fist. stay on topic!!




promptly rolls over laughing at the thought of LoT staying on topic.

[Snowflake]

I'm sorry. I'll be sure to remove your mom from the distribution list.



Now back.

/shakes fist. stay on topic!!




promptly rolls over laughing at the thought of LoT staying on topic.


I get mine this week. Yay!

[Kevy Baby]

I get mine this week. Yay!Your family email that needs to be Snopes'ed?

[katiesue]

My mom sends a ton of them. I just delte. My cousin keeps sending me prayer requests for people I don't know, and she knows I don't pray.

My sister is the worst - she sends out these "updates" that are generally 3-4 pages long on her kid. And she sends it something like 100 people. And if I look on the list I know half of them are like me and don't give a flying fig. Plus it makes her kid sound creepier than I already think she is.

[swanie]

Plus it makes her kid sound creepier than I already think she is.

As a recipient of a few of her emails, I think it just reinforces how creepy they all are. ;)

For how many years did SL see dead people?

swanie

[lindyhop]

No one in my family knows how to use e-mail. Look at all I'm missing...

[innerSpaceman]

Bah, there's no sign of my tax refund incentive yet. Ironically (or not), I need it to pay my income taxes.

[Snowflake]

Mine is in the bank. And, contrary to my "pay down debt" comment earlier, it will sit until June 16th, if I lose the auction, then I will pay down debt, otherwise it will be applied to pay for the much desired postcard....

[BarTopDancer]

WOOHOO! I got a letter dated May 12th that my deposit will be made on May 9th. Since it was already made I look forward to going back in time for a second one. Or something.

[Stan4dSteph]

Still waiting...

[Alex]

I got money from the IRS yesterday but it wasn't this. It included a piece of paper saying an explanation for why I was getting money would be along in a couple of days.

[MouseWife]

Those letters of information of things that have already passed just reinforce to me that the government doesn't really know what they are doing. Which on one hand makes me feel a little better about how much I screw up. I mean, even the government does, right?

Anywho. I checked on that site {thank you!} and finally it says that the check is scheduled to be sent out something like May 22 {even though our numbers are from the first batch} and if it doesn't get here by June 20, be sure and contact them. ????

As far as the emails, I tell my family I don't open those type of things because you never know about viruses. I have some people who send me things all of the time but they are attachments and I just delete them. My father in law always sends things.

My mother doesn't even use a microwave.

[Snowflake]

My mother doesn't even use a microwave.

Me either. Don't have one, don't want one, either.

[MouseWife]

What is your reason? She says it makes the food hurt her teeth.

[Kevy Baby]

WOOHOO! I got a letter dated May 12th that my deposit will be made on May 9th. Since it was already made I look forward to going back in time for a second one. Or something.Yep - we had the same thing. Got the letter after the deposit was made.

[Cadaverous Pallor]

What is your reason? She says it makes the food hurt her teeth.:confused: :eek: :confused:

[MouseWife]

:confused: :eek: :confused:

I dunno. That's my mamma.

[blueerica]

So, since mine was supposed to be mailed out May 30th, I figured I'd "check the status" of it. Still no info available, says the site...

Okay, so I filed - with my new address - and they've taken my monies and deposited MY check... so.. /sniffles... where's my monies?!?

[innerSpaceman]

The IRS read my mind. I was intending to apply my "stimulus" check to my income tax, and that's exactly what they decided to do. Nice of them to tell me, at least.

[MouseWife]

Ours finally came in the mail, even though we did our taxes on line and had direct deposit.

And, on top of that odd thing, our number was in the first weeks batch to be sent out.

[Chernabog]

My cruise bill was $600; my rebate direct deposit was $600. Sweet! :)

[wendybeth]

My cruise bill was $600; my rebate direct deposit was $600. Sweet! :)

Sort of the financial version of being carbon neutral- yeah!:cheers:

[wolfy999]

The Wolfpack isn't going to see the check until after July 4th...damn my hubby's last four numbers....mine would have been spent already (that is if I'd been the main SS number)!

Men!

[Moonliner]

If you are still intent on spending that rebate check on cool gadgets, it looks like Wal-mart wants to help.

June 8th - 14th Wal-Mart (http://www.engadget.com/2008/06/03/wal-mart-throws-in-100-gift-card-with-blu-ray-player-purchase/)is giving out $100 gift cards with the purchase of any Blu ray player. Including the PS3.

[cirquelover]

If Gary reads this we'll end up with a PS3 for sure. You know it just kills them not to own every game system in the world anyway but with the addition of the blu ray it made them want it even more. Men, I tell ya!!

[blueerica]

Bleh - I just wanna know what's happening with my money?

Could it be because I owed so much? They tooks my monies... isn't it all processed-like already. *sniff* I want to pay off more of my credit card!

[wolfy999]

Mine won't be sent out until early July.....it depends on the last 4 numbers in you SS#.

[alphabassettgrrl]

Both our SSNs have 9 at the end so I suspect we'll have a new president before we get our check. I'm hoping we get our check.

[BarTopDancer]

Did you guys check the "where's my rebate" thing on the IRS website?

[alphabassettgrrl]

Nope. Haven't looked.

[Nephythys]

Mine went to-

Flooring for the house
birthday presents for family members
a wasted Dr's appt
a vet visit

[blueerica]

Nope. Haven't looked.

Yes, and it's coming up unavailable. Which sucks. I hate not knowing stuff.

I'm wondering if mine is still being processed because of the high amount I owed... bleh!

[BarTopDancer]

They kept Steves, so maybe they are keeping yours.

[blueerica]

No, but I paid them and they cashed my check... /sigh

[BarTopDancer]

They sent it to everyone and "your mom". ;)

[blueerica]

Oddly enough, I don't think my mom got one since she didn't have any income in 2007.

Ooooh, I just realized she did, but probably doesn't think she did. Must call mom.

[BarTopDancer]

Income over $3k I think.

[Snowflake]

I could use another, must pay down more debt.

At least I did the good thing, and did apply to a credit card. Sigh, I know one day I will see light at the end of this tunnel!

[blueerica]

Hehe, I paid off another $500 on my credit card yesterday!

[blueerica]

OK, I'm confused...

A month later and the IRS page linked earlier in this thread finally says I'm getting something. Except... it's $300 less than it should be. I paid out the ass in taxes, and even if I cut my adjusted gross income in half, I should still be getting a $600 stimulus check. So, how come I'm only getting $300?

I think I will actually call - you know, it's more than what I would 'get back' any other year, but it's the principle of the matter... WTF is up?

Anyone have any ideas?

[scaeagles]

I have no idea.

But I got my check yesterday finally. All that I expected.

Too bad it was already spent on that Orlando trip we took on spring break.

[blueerica]

Well, I did some thinking on it. Still may call to satisfy my curiosity (though if it takes over 10 minutes on hold, I just don't care enough...), but I think I may have gotten less because it was two jobs, one of which my taxes were taken out 'the regular way,' the other for which my taxes were paid as an independent contractor. The way that the stimulus is set up (and getting paid for... heh) is that it's based on what went in, and I was bad, bad, bad about what went in for 2007. (Miscalculated what needed to be paid via quarterly taxes).

So, I think that's my answer.

And, I haven't been penalized yet, so here's to hoping that doesn't happen!

[scaeagles]

It takes quite a bit to incur a penalty. 20% of my income in 2007 was independent stuff and I paid nothing on it until I filed my taxes. $7 penalty.

[RStar]

The way that the stimulus is set up (and getting paid for... heh) is that it's based on what went in

Everything I've read says it depends on two things to qualify 1) You had to file in 2007 and 2) you have to make more than $3,000.

I don't think it has anything to do with how much you payed in taxes, or how you payed them, or what kind of penalties you paid.

However, if you owe back taxes, they will pay that off first, then if you owe other things like back child support, they might pay that second.

Also, if you made more than (I think) 150K, you will get less. I think income from two jobs will still combine to be one income.

When I checked on their website to how much I'd get they said $900. But I got my check yesterday and it was the full $1,200 so I must have entered my info incorrectly (I was guessing at some of the numbers). I'm not complaining! :D

[Morrigoon]

Mine will mostly go to pay my accountant. Worth every penny.

[blueerica]

I don't owe any back taxes, so I'm sort of trying to make sense of it. However, the care factor is lessening as my workload just got weird.