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.