Bush's Economic Stimulus Payment (Austin, China: student loans, new house, purchase)

[S6Sputnik]

Originally Posted by woodinvilleguy

not possibly, it is a no for me and my family. I wish everyone would use the check to buy stock in my company....:-) Oh well, the more you pay in... The less you get.... Makes perfect sense... not...!!!!

Anyone else still upset about it?

Bummed..yes, upset no, the fact is I don't need it as much as some...

BBBBut the governments thinking is a totally flawed in that they assume that the big earners will spend regardless of getting money back or not, and I think that is a mistake...giving a high earner $600 may end up being the catalyst causing him/her to spend 10x that amount, where as some folks that get the $600 will pay off debt contributing $0 to the economy, but getting their debt lowered by $600 on the crap they bought 9 months ago ..

[Torontonian]

Originally Posted by S6Sputnik

BBBBut the governments thinking is a totally flawed

Agree. Also, higher income individual is already paying higher taxes so IMHO he has a right for the same social benefits others are entitled to.

I also think that the flat tax rate vs tiers is more fair

[justanothercalifornian]

yup, got it a few days ago direct deposit paid off the debt we incurred moving here! wish it were on a something fun. oh well...

[joplinlb]

Amen!! The fairtax would be "fair". Currently, the harder you work, the more you make...you get penalized - you get thrown into a higher tax bracket paying out the waaahzooo..........

[jread]

Originally Posted by Jenbar

https://sa2.www4.irs.gov/irfof/IRServlet?app=IRACTC

Thanks!

I do not remember my number of exemptions but I'll check it out when I get home.

[koalabebe]

Do not forget the Alternative Minimum Tax will be effective again in 2010, which means it is going to hit on people with income over 100,000. The AMT is NOT indexed/adjusted to inflation. Our pay check will increase because of inflation while the AMT is not. It's additional tax!!!

[Puddy4LyF]

Originally Posted by S6Sputnik

Bummed..yes, upset no, the fact is I don't need it as much as some...

BBBBut the governments thinking is a totally flawed in that they assume that the big earners will spend regardless of getting money back or not, and I think that is a mistake...giving a high earner $600 may end up being the catalyst causing him/her to spend 10x that amount, where as some folks that get the $600 will pay off debt contributing $0 to the economy, but getting their debt lowered by $600 on the crap they bought 9 months ago ..

You're forgetting one thing: One major contributing reason to poverty is that people don't know how to make responsible decisions with their money. I WISH they'd use that money to pay off their debt, but I'm sure they're going to use it to purchase a go-kart!

Now being more fair to others, there are many big ticket items that hard-workers need, say a new mattress, and what better time to buy it?

I don't agree with such a stimulus either, but I think you're underestimating that for most people, it will get pumped back into the economy.

Someone else mentioned that big money makers should also get it because it's not fair in our social network not to... uhhh, next. Dumbest comment I've ever heard in a country where the gap between rich and poor is the most ANYWHERE in the world to cry about not getting 600$ when you're making 6.5 figures per year.

If anything, you should be happy there isn't the rationale to close the gap even more, not just by 600 measley damn dollars. If this is in question, take a trip to Europe and then feel happy you're allowed to even keep your money. =)

[woodinvilleguy]

umm $600 is if you don't have kids. Add $300 per kid. I have three so it isn't just $600. But oh well taxes suck, the goverment sucks....

[mimimomx3]

You mean the advance on your refund for next year? Uh, no. We're not getting a dime.

[joplinlb]

By the way, it is not only $600. For us it would have been $1200 (married filing jointly) and $300 per child (we have three). That is not small change even if you make over six figures and pay most of America's taxes. How many $600 checks are we going to have to pay for? We work hard to make the money we do.