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  1. #1
    J E R S E Y S B E S T Jerseysbest's Avatar
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    Can someone explain the stimulus checks?

    I haven't payed close enough attention to these things except that I should be getting one, cause I made over 3k but not over 75k. But whether I get one or not isn't the issue I'm concerned about.

    From what I gather from online, the check we'll be receiving is a 'tax cut'. So if there weren't any checks, and we did our 2008 taxes in 2009, the 'tax cut' would reduce what I owe if I owed, or give me more back if I was getting a refund (if I owed $1000, I'd owe $400, or if I was getting $400 back, I'd get $1000). But, instead, the gov't is giving us an advance on that tax cut in the form of a check, this May? Am I correct?

    So, if it is an advance, that means the gov't is probably borrowing money to finance this, there by reducing the 'tax cut'?

    I've heard a lot of different scenarios and I'm too lazy to search around for this.
    Quote Originally Posted by SingingSabre View Post
    Cheating: a symptom of the problem.

  2. #2
    Spelling Snob Hobartlemagne's Avatar
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    Its a bribe for you to like W.

    Remember, he did that shortly after he was elected.

    The first rule of flats is You don't talk about flats!

  3. #3
    Senior Member 1fluffhead's Avatar
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    http://www.irs.gov/newsroom/article/...179211,00.html

    It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.
    Last edited by 1fluffhead; 04-25-08 at 09:55 AM.

  4. #4
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    The money somewhere in the amount of 150 billion dollars will have to be borrowed. Quite a bit of it will probably be borrowed from China. It's just more money that my kids and grandchildren will have to pay back in the form of higher taxes. It's totally foolish but it's an election year so why should I be surprised.

  5. #5
    Up on the Down Side CyLowe97's Avatar
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    Free money!!! W00t!!!!1111111!11!!!!!!!!


    I'm not going to rip up the check when it shows up in my direct deposit or anything, but this ploy by the federal government is only going to help the dollar sink farther into its current depths of crapulance.

    I expect to buy 6 gallons of 87 octane fuel with my free money.

    Did I mention it's FREE MONEY!!!!!!! Take that, CHINA!!!





  6. #6
    phony collective progress x136's Avatar
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    Quote Originally Posted by CyLowe97 View Post
    Free money!!! W00t!!!!1111111!11!!!!!!!!
    Hell yeah! Think of how much blow you can buy with $600! It won't help the so-called "economy", but it'll help prop up the international drug trade. And really, which one do you have more faith in?

  7. #7
    Senior Member Daveyboy's Avatar
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    Quote Originally Posted by Hobartlemagne View Post
    Its a bribe for you to like W.

    Remember, he did that shortly after he was elected.
    A Bribe from W??? Hmmm, that's funny becuase this economic stimulus measure was passed by the democratically controlled Congress.

    Not that I'm for W (or any other politician for that matter) but you need to get your facts straight about how things actually happen in our government before making statements like that.

  8. #8
    Senior Member barba's Avatar
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    Finally, I can prop up the Chinese economy by buying cheap consumer goods.

  9. #9
    more ape than man timmhaan's Avatar
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    so, the message is that when we get into trouble with too much borrowing.... the government will be there to give us a few hundred bucks to keep buying.

    this is no different then giving a crack addict more crack when they run out.

    we need real fiscal responsibility. i don't see either party providing that in the near term.

  10. #10
    GATC
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    Quote Originally Posted by barba View Post
    Finally, I can prop up the Chinese economy by buying cheap consumer goods.

    I wonder if I should do that by buying my 6 yr old the huge bionicle set he's been nagging me for, and then remind him of it when he complains about the national debt when he starts paying his own damn taxes.

  11. #11
    Senior Member yellowjeep's Avatar
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    My age group (19 college freshmen) fell though the loop on this one which sucks. Because I am still claimed as a depended on my parents taxes I am not eligible for the check, but because I am over 18 neither can my parents (and I wouldn't even mind if my parents got it and kept it, they do help me out a lot). Lame.

  12. #12
    J E R S E Y S B E S T Jerseysbest's Avatar
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    Thanks for all the answers but please respect foo and it[EDIT: s ] political neutrality.
    Last edited by Jerseysbest; 04-25-08 at 01:01 PM.
    Quote Originally Posted by SingingSabre View Post
    Cheating: a symptom of the problem.

  13. #13
    . bbattle's Avatar
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    Quote Originally Posted by lns55 View Post
    The money somewhere in the amount of 150 billion dollars will have to be borrowed. Quite a bit of it will probably be borrowed from China. It's just more money that my kids and grandchildren will have to pay back in the form of higher taxes. It's totally foolish but it's an election year so why should I be surprised.

    yep. Money taken from me and given to you. Spend it wisely.

  14. #14
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    Think of Robin Hood. Steal from the rich and give to the poor.

    It's a tax credit for the 2008 tax year that you get early. If you didn't qualify for it early, like me, you may still qualify when you do your taxes at the end of this tax year. I am politically against it, but like democrats not giving extra money to the IRS when they think they aren't taxed enough, I take advantage of every loophole I can slip into.

  15. #15
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    it political neutrality
    Should this be its or its' or it's ??????? This is one I always get wrong.

  16. #16
    Senior Member eric von zipper's Avatar
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    When I was younger and played organized sports, I had to go to the doc and he made me turn my head and cough. If I'm not mistaken, that is a stimulus check.
    Surly Cross Check, Thorn Sherpa

  17. #17
    GATC
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    Quote Originally Posted by dipy911 View Post
    Should this be its or its' or it's ??????? This is one I always get wrong.

    No apostrophe on the possessive.

  18. #18
    GATC
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    Quote Originally Posted by bbattle View Post
    yep. Money taken from me and given to you. Spend it wisely.
    So what do you think about the bionicles?

  19. #19
    J E R S E Y S B E S T Jerseysbest's Avatar
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    Quote Originally Posted by eric von zipper View Post
    When I was younger and played organized sports, I had to go to the doc and he made me turn my head and cough. If I'm not mistaken, that is a stimulus check.
    Best answer so far!
    Quote Originally Posted by SingingSabre View Post
    Cheating: a symptom of the problem.

  20. #20
    Golden Member JR97's Avatar
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    The stimulus check is a nice weapon of mass distraction. The Fed bails out Bear Stearns with billions in tax dollars over irresponsible practices and you get $600.. that they're paying you with your own money.

  21. #21
    You Know!? For Kids! jsharr's Avatar
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    Quote Originally Posted by eric von zipper View Post
    When I was younger and played organized sports, I had to go to the doc and he made me turn my head and cough. If I'm not mistaken, that is a stimulus check.
    No, that was the grope, the stimulus check was when he hit you in the knee with the triangular rubber mallet.
    Are you a registered member? Why not? Click here to register. It's free and only takes 27 seconds! Help out the forums, abide by our community guidelines.
    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  22. #22
    Squirrelly Member trsidn's Avatar
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    We found out we do not need to be stimulated.
    Quote Originally Posted by Nicodemus View Post
    Yet more proof that I'm.. well, pretty much right about everything.

  23. #23
    Senior Member deraltekluge's Avatar
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    Quote Originally Posted by dipy911 View Post
    Should this be its or its' or it's ??????? This is one I always get wrong.
    For the possessive, use "its". For the contraction of "it is", use "it's".

  24. #24
    Senior Member deraltekluge's Avatar
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    Quote Originally Posted by dipy911 View Post
    Think of Robin Hood. Steal from the rich and give to the poor.

    It's a tax credit for the 2008 tax year that you get early. If you didn't qualify for it early, like me, you may still qualify when you do your taxes at the end of this tax year. I am politically against it, but like democrats not giving extra money to the IRS when they think they aren't taxed enough, I take advantage of every loophole I can slip into.
    That's not the way I understand it. The way I read it, it's just a gift...not-taxable, and with no impact on your taxes to be paid or any refund you might be getting. The problem is that the government has to borrow the money in order to give it to us, and that'll increase the national debt. And, of course, the national debt is really owed by all of us...

    By the way, the Democrats think the Republicans aren't taxed enough, either, and see no reason why they should pay more than they have to, and give the Republicans a free ride.

  25. #25
    more ape than man timmhaan's Avatar
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    we're not taxed based on our party affiliation.

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