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$10 to $15 per paycheck? Thats ridiculous! Why would they not just send out rebate checks for the $400 for individual and $800 for couples? This is very bad idea in my opinion.
The thinking is that people will spend the extra money- say go out to dinner, or a movie on a regular basis; whereas if it came as one payment, many people would choose to pay bills.
Most economists that I have heard over the last several days, actually agree that the extra money in your paycheck will be more of a true stimulus.
$10 to $15 per paycheck? Thats ridiculous! Why would they not just send out rebate checks for the $400 for individual and $800 for couples? This is very bad idea in my opinion.
It is not $800 for every couple. I only applies to working people. I am a SAHM so I may qualify for the non-worker credit of $250. Also the way I read if only one spouse works the full credit only applies to people who earn under $75K. The COBRA thing is great and also the extension of unemployment. I don't see how increasing the programs targeted to the low income families is going to stimulate the economy.
The car thing may get me to buy a new car.
I knew they would nix it in the end. They've cut just about everything that would have had a direct affect on the tax payer to the point that it's mostly just a big spending bill and a big thick pork chop for special interests.
Except the 800.00 stimulus check will not be a rebate check. It will show up in your weekly or bi weekly paycheck as an extra 10-15.00.
I fart $10-15 when I roll out of bed in the morning. Anyone that would think that $10-15 would have any affect on anything is so sadly confused about what would really make a difference. They can keep it....ah....well I guess they'll get theirs when I have to file next year.
I purchased/closed on my home on February 6, 2009. I have already filed my taxes, claiming the purchase, and will be receiving the $7,500 credit in my refund next week. This is the one that is supposed to be paid back over 15 years.
NOW, if this $8,000 credit is passed, it's good for purchases made between January 1 - December 31, 2009 (which would include my purchase).
Do I just stick with the $7,500 credit that I have to pay back? Either way, it's not really a big deal. The pay back is only $500/year. I was just wondering if mine would somehow be amended to include the extra $500 credit AND make it so that I would not have to pay it back.
Anyone?
I also claimed the $7500 credit on my 08 taxes. My tax guy said we could make an amendment this year or wait till next year for the additional $500 credit. Best thing is that it no longer has to be paid back.
Update - Current Version does include a tax break for first time home buyers- currently only about half of the proposed original amount.
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