Lawmakers clinch a deal on tax rebates

[nannygirl82 0]

While I look forward to the check I am a little po'ed that people who don't even file income taxes are going to get income tax rebates...ummm huh? Why should you get a rebate if you never paid in the first place?

They changed the amount from $1600 a couple to $600 I am not happy about that...but I guess any money is better than no money so mi nah go cuss too much

so true....

[JA Tam 7]

thoughts are we should see that money beginning in June...Mi jus' waan see weh dem ah go do, fi get back di money...because dem ah go have one deficit an' yuh knoa seh GWB haffi pay fi deh war; especially since dem ah build one $700 million dollar embassy inna Baghdad!

[Dimples876 0]

thoughts are we should see that money beginning in June...Mi jus' waan see weh dem ah go do, fi get back di money...because dem ah go have one deficit an' yuh knoa seh GWB haffi pay fi deh war; especially since dem ah build one $700 million dollar embassy inna Baghdad!

WHA! $700MM while people in America kno hav food pon dem table ah night time. something seriously wrong w/this picture.

[TRELAWNY PARISH 10]

*****kiss mi neck***** mi a read dat right. What a stress and people ovah yah a dead fi hungri much less. I work up the street from the World Bank in DC and it wasn't until a few years ago I really understood what all the protest was about. Cho, now mi head a hat mi...700 wah (mek mi go look fi mi yie glasses, maybe mi naw see right)

*****kiss mi neck***** mi a read dat right. What a stress and people ovah yah a dead fi hungri much less. I work up the street from the World Bank in DC and it wasn't until a few years ago I really understood what all the protest was about. Cho, now mi head a hat mi...700 wah (mek mi go look fi mi yie glasses, maybe mi naw see right)

[Dimples876 0]

*****kiss mi neck***** mi a read dat right. What a stress and people ovah yah a dead fi hungri much less. I work up the street from the World Bank in DC and it wasn't until a few years ago I really understood what all the protest was about. Cho, now mi head a hat mi...700 wah (mek mi go look fi mi yie glasses, maybe mi naw see right)

Girl I feel you....give America that money we are the one's that need it.

[athena_ny 1]

While I look forward to the check I am a little po'ed that people who don't even file income taxes are going to get income tax rebates...ummm huh? Why should you get a rebate if you never paid in the first place?

They changed the amount from $1600 a couple to $600 I am not happy about that...but I guess any money is better than no money so mi nah go cuss too much

It's for people who don't make enough to file to still get the rebates. If you make 70K and don't file, you aren't goin to get anything.

The money for a couple who filed taxes and made under 150K is 1200 dollars. If you made over 3K but enough to not have to file taxes, it's half that.

Congress still has to approve though...article I read said it should be through Congress by end of Feb.

Edited January 25, 2008 by athena_ny

[SupportOAFJF 0]

Dimples......mi would love some a da tin bum but mi want it wid dumplin dough...wah u seh

[Dimples876 0]

While I look forward to the check I am a little po'ed that people who don't even file income taxes are going to get income tax rebates...ummm huh? Why should you get a rebate if you never paid in the first place?

They changed the amount from $1600 a couple to $600 I am not happy about that...but I guess any money is better than no money so mi nah go cuss too much

It's for people who don't make enough to file to still get the rebates. If you make 70K and don't file, you aren't goin to get anything.

The money for a couple who filed taxes and made under 150K is 1200 dollars. If you made over 3K but enough to not have to file taxes, it's half that.

Congress still has to approve though...article I read said it should be through Congress by end of Feb.

I thought I read that it was already approved by congress?

Edited January 25, 2008 by Dimples876

[Dimples876 0]

Dimples......mi would love some a da tin bum but mi want it wid dumplin dough...wah u seh

girl and would love that tin bum right now w/some fry dumplin or some curry chicken back w/dumplin instead of this salad.

[Yaads 0]

How Americans in different financial situations would fare under the rebate plan proposed by House leaders and the White House.

— An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.

— A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.

— A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.

— A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.

— A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by 50 percent for this family. A $900 rebate.

— A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.

...

Individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates.

http://www.msnbc.msn.com/id/22839790/page/1/

Tax rebates

Checks of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007.

Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates.

The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children.

http://www.msnbc.msn.com/id/22824817/

WASHINGTON - With unprecedented speed and cooperation, Congress and the White House forged a deal Thursday to begin rushing tax rebates of $600 to $1,200 to most tax filers by spring, hoping they will spend the money just as quickly and jolt the ailing economy to life.

...

The bill will go straight to the House floor next week and on to the Senate, where some Democrats hope to add elements such as extending unemployment benefits for workers whose benefits have run out.

...

About two-thirds of the tax relief would go out in rebate checks to 117 million families beginning in May

http://www.msnbc.msn.com/id/22782454/

Edited January 25, 2008 by Yardiewife

[athena_ny 1]

How Americans in different financial situations would fare under the rebate plan proposed by House leaders and the White House.

— An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.

— A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.

— A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.

— A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.

— A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by 50 percent for this family. A $900 rebate.

— A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.

...

Individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. In a key concession to Democrats, 35 million families who make at least $3,000 but don't pay taxes would get $300 rebates.

http://www.msnbc.msn.com/id/22839790/page/1/

Tax rebates

Checks of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007.

Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates.

The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children.

http://www.msnbc.msn.com/id/22824817/

WASHINGTON - With unprecedented speed and cooperation, Congress and the White House forged a deal Thursday to begin rushing tax rebates of $600 to $1,200 to most tax filers by spring, hoping they will spend the money just as quickly and jolt the ailing economy to life.

...

The bill will go straight to the House floor next week and on to the Senate, where some Democrats hope to add elements such as extending unemployment benefits for workers whose benefits have run out.

...

About two-thirds of the tax relief would go out in rebate checks to 117 million families beginning in May

http://www.msnbc.msn.com/id/22782454/

Next week it goes to floor...meaning it's not passed yet? Not sure why you bolded it like I was missing something - George Bush and Congressional leaders agreed on it, but it still has to go through Congress.

"Democratic leaders said that to speed the economic rescue package they would mostly bypass the usual committee process. Lawmakers said that they hoped the plan could be approved by mid-February and that it would be sufficient to soften an economic downturn and forestall a recession. " (from http://www.nytimes.com/2008/01/24/washingt...amp;oref=slogin )

And the people who 'don't pay taxes' are the people who fall below the filing requirement. Like I said, people who make 70K and decide not to file probably won't be getting anything. I have no issue with people who make barely anything to begin with getting some money. ("Late in the negotiations that preceded Thursday’s breakthrough, Ms. Pelosi agreed not to include two proposals that have broad support among Congressional Democrats: an extension of unemployment benefits and a temporary increase in food stamps. In exchange for those concessions, the Bush administration and House Republicans agreed that the stipend of at least $300 would be paid to all workers who earned at least $3,000 last year, even those who did not earn enough to pay taxes. " - from the link referenced above)

Not that it really matters, since the "plan" will probably not work anyway. We need a new New Deal, but that isn't going to happen.

Edited January 25, 2008 by athena_ny

[Yaads 0]

Next week it goes to floor...meaning it's not passed yet? Not sure why you bolded it like I was missing something - George Bush and Congressional leaders agreed on it, but it still has to go through Congress.

And the people who 'don't pay taxes' are the people who fall below the filing requirement. Like I said, people who make 70K and decide not to file probably won't be getting anything. I have no issue with people who make barely anything to begin with getting some money.

Not that it really matters, since the "plan" will probably not work anyway. We need a new New Deal, but that isn't going to happen.

I didn't post anything towards you bolded or not bolded. I was posting information for those that are interested to read it. Not aimed at anybody in particular.

I have a problem with people getting tax rebate checks if you don't pay taxes, for whatever reason. I don't see why someone should get a rebate when they haven't paid anything in the first place. Just my opinion.

[athena_ny 1]

Next week it goes to floor...meaning it's not passed yet? Not sure why you bolded it like I was missing something - George Bush and Congressional leaders agreed on it, but it still has to go through Congress.

And the people who 'don't pay taxes' are the people who fall below the filing requirement. Like I said, people who make 70K and decide not to file probably won't be getting anything. I have no issue with people who make barely anything to begin with getting some money.

Not that it really matters, since the "plan" will probably not work anyway. We need a new New Deal, but that isn't going to happen.

I didn't post anything towards you bolded or not bolded. I was posting information for those that are interested to read it. Not aimed at anybody in particular.

I have a problem with people getting tax rebate checks if you don't pay taxes, for whatever reason. I don't see why someone should get a rebate when they haven't paid anything in the first place. Just my opinion.

Ah, sorry. Reading at work.

I can see why that might upset some people, but IMO the impoverished need the money more than I do, so I don't have an issue with it. I'm more about taking care of all people, not just the ones that make enough to pay taxes. But as I already said, I think it's a stupid plan that won't work anyway so

[SupportOAFJF 0]

Dimples......mi would love some a da tin bum but mi want it wid dumplin dough...wah u seh

girl and would love that tin bum right now w/some fry dumplin or some curry chicken back w/dumplin instead of this salad.

ahhaa bwoy u mek mi mout a wata

[Yaads 0]

Ah, sorry. Reading at work.

I can see why that might upset some people, but IMO the impoverished need the money more than I do, so I don't have an issue with it. I'm more about taking care of all people, not just the ones that make enough to pay taxes. But as I already said, I think it's a stupid plan that won't work anyway so

No worries

I don't think the plan is going to work either. So I totally agree it is a stupid plan.