How is it tax relief, if you were already getting a refund on your taxes?

[SammyWinstonJack]

The Treasure Sec. is claiming these rebates too be tax relief. How does that work if you were due a refund but instead of getting it in '09, you get it now?

And if you don't make enough, you won't be getting anything...

And if you owe taxes, you will pay that amount back with interest and penalties, right?

So how this tax relief?

Tax relief would be what the top tax brackets have received the past six years. A % cut on their tax bracket, right?

Or maybe I am just stupid? :shrug:

[earthboundmisfit]

1. Are they going to count this "rebate" as taxable income for 2008?

Just wondering - I would not put it past them...

[flamin lib]

2. The stimulus requested by Bernacke isn't like the "pre-bate" we got

in 2001. He is asking for a genuine one-time refund of taxes already paid. Assuming it makes it through compromise this won't have any effect on your next tax return.

[SammyWinstonJack]

4. Thank for the explanation.

:-)

[mth44sc]

3. its the same shell game

w played early in his term. They give ya your refund (assuming you are getting one) a bit early and make ya think ya really got something...

[SammyWinstonJack]

5. They should make their intention clear. It seems there is some confusion. But maybe they want

confusion. It seems too work well for them. :shrug:

[predfan]

6. let's see now..........

we're operating in a deficit economy. Bush gives Billions in arms to the Saudi's, arms bought with borrowed (probably Chinese) money. Our grandchildren must repay those dollars. Then we give out checks, again off borrowed money. Again, our grandchildren get the shaft. What a country!

[SammyWinstonJack]

8. Either it's a refund on taxes already paid or they are borrowing the money from future generations

:shrug: And how many will really benefit from it?

[sutz12]

7. When your only tool is a hammer......

Pubbies don't know no other terms. If it ain't labeled some kind of a 'tax reduction' in some form, they won't vote for it.

Of course what it really is 'deficit enhancement' but who's quibbling? Only one more year left to boost that national debt over $10 trillion. C'mon, Georgie-boy, you can do it!

[catmandu57]

9. If it's like the first time around

If you get a refund already or you don't make enough money then you're not getting a check. A lot of people fell for this shit the first time around, I don't know how many people I knew who were making plans for their 300 or 600, then had to back out because it never came. Fool me once.

[ClintonTyree]

10. Righto....

the people that need it the most won't get it. They're the ones who would spend it, they'd have to. Bush's pals will buy a few more shares of Halliburton with theirs.

[SoCalDem]

11. The sad thing is that even if they DID get it, they would likely spend it at Walmart

or anything they would buy ANYWHERE would be for a product made in a foreign counrty and brought to them via an oil-chugging vessel of one sort or another..lose-lose