Stimulus Checks

[Cali]

I never understood how the govt thought the amount of money they gave people would actually stimulate the economy.

[momof5]

I received my ex husbands stimulus.. a whole whopping $300 towards a $14,000 child support past due amount. I am thankful for the the $300 but its not from him. The government gave him a handout that he should NOT have been entitled to in the first place. He did not work to pay this and as far as I am concerned this money should not go towards paying these deadbeats past due support.

Sorry for throwing this in.. I read Bandits post about the 55% going towards child support. I just really wish I could give it back to the government and they in turn FORCE him to find some employment that would help to support the children he made 13+ years ago that he has provided NOTHING for.

[AngelinaCat]

Sorry for throwing this in.. I read Bandits post about the 55% going towards child support. I just really wish I could give it back to the government and they in turn FORCE him to find some employment that would help to support the children he made 13+ years ago that he has provided NOTHING for.

Mom, I understand entirely. The system 'ain't fair'. But in this case, I would just 'grab and run' with what I could get. Go for it.

Think of it this way: the 'putz' didn't get it, YOU did!!

[WhatMoney]

everyone should know by now that if gwbush is behind something, he aint doing it to help anyone as a favor and will always have something (diversion) up his dirty sleeve for his own gain & the gain of those he sees fit.

the whole stimulus package is the biggest lie & is going to hurt people even more in the following year as they will still owe it back & then some, as the dems take office.

• 55% for child support.

• 39% for federal debts such as student loans or farm loans.

• 6% for unpaid state taxes.

What Smush calls stimulus I call a cash advance for the government.
I have not been impressed since day one, with this silly $600 cash advance for the government to do with as they wish.

Well it's not really an advance - but since it raises the overall deficit by 0.02%, I suppose you think your taxes will be raised because of the deficit. (It does not count as income next year of course.) Me, I'm not giving them anything back, not one dollar of the $300. I've already spent it on gasoline and electric bills anyway. (Well OK, so I already have given it back to them, hmmm.) I want another "freebie" before the election - those winter heating bills are coming up and I'll need to run the A/C soon as a heat wave is coming this Friday. I've already turned off my water heater except when I need it - it costs me $50/month extra to keep on all the time.

Those percentages you list are the portions in the held funds turned over to pay priority debts. What per cent of the stimulus payments were not paid to the taxpayer because of their government debts, 5-10% or less?

[Bandit]

Well it's not really an advance - but since it raises the overall deficit by 0.02%, I suppose you think your taxes will be raised because of the deficit. (It does not count as income next year of course.) Me, I'm not giving them anything back, not one dollar of the $300. I've already spent it on gasoline and electric bills anyway. (Well OK, so I already have given it back to them, hmmm.) I want another "freebie" before the election - those winter heating bills are coming up and I'll need to run the A/C soon as a heat wave is coming this Friday. I've already turned off my water heater except when I need it - it costs me $50/month extra to keep on all the time.

Those percentages you list are the portions in the held funds turned over to pay priority debts. What per cent of the stimulus payments were not paid to the taxpayer because of their government debts, 5-10% or less?

this aint no freebie. it is your money all along. you will see that next year you will be paying it back if you owe or getting a lesser refund. it is an advance of your tax return next year. they wont say it like that, instead they call it a stimulus to make you think they are giving you something.

Taxes will be raised simply because that is what democrats do.

[WhatMoney]

you will see that next year you will be paying it back if you owe or getting a lesser refund. it is an advance of your tax return next year. they wont say it like that, instead they call it a stimulus to make you think they are giving you something.

I thought this rumor was proven false months ago - It adds to the deficit but will NOT affect your taxes next year. It is definitely NOT an advance of next year's tax return. Quoting from the IRS (who you may choose to disbelieve of course):

Basic Information on the Stimulus Payments

Updated April 17, 2008

You've heard about it. Now find out how to get yours.

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. 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.

[FLBK7]

this aint no freebie. it is your money all along. you will see that next year you will be paying it back if you owe or getting a lesser refund. it is an advance of your tax return next year. they wont say it like that, instead they call it a stimulus to make you think they are giving you something.

Taxes will be raised simply because that is what democrats do.

I was going to reply as soon as I saw your post, but had the good sense to scroll down. WhatMoney saved me the trouble. His post is right on the money!

[Bandit]

I thought this rumor was proven false months ago - It adds to the deficit but will NOT affect your taxes next year. It is definitely NOT an advance of next year's tax return. Quoting from the IRS (who you may choose to disbelieve of course):

Months ago? does not effect your taxes next year?


LOL! if that were true, then they would not be taking it to pay other taxes that people owe from 2007. Hello?

so the IRS is giving away free money & taking the free money to pay your past years taxes. You think the IRS is giving free money & paying peoples TAXES? LOL!

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. 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.

um, the IRS does not answer the question the way you think it does.

Why do you think people with an income of less than 3000.00 for one year 2007 are not getting a rebate? I will tell you why...because they wont be paying enough in tax to get a rebate/stimulus/advance/credit.


i did not say it was taxable. i did not say it would increase or decrease your tax. what I said is, you are being given an advance/rebate based on your tax return for 2007 & getting it in advance for your 2008 tax return. This is a rebate of tax you pay or would normally get back!- NOT FREE MONEY.

You are going to see a different picture in April 2009. In fact for those who should have gotten more or less due to a new child in 08, or whatever else, will get another 300.00 & your taxes will be recalculated including the stimulus at that time.

somehow you equate stimulus/tax rebate/ credit/ as FREE MONEY. if you wish to believe that the IRS is giving away FREE money, & that the IRS is paying peoples taxes, & that the money is not yours to begin with, then you certainly may. I wont be duped that easy.

[Bandit]

I was going to reply as soon as I saw your post, but had the good sense to scroll down. WhatMoney saved me the trouble. His post is right on the money!

so you think the IRS is giving away free money & paying peoples taxes for them?


you think the check is FREE MONEY?

[Bandit]

I received my ex husbands stimulus.. a whole whopping $300 towards a $14,000 child support past due amount. I am thankful for the the $300 but its not from him. The government gave him a handout that he should NOT have been entitled to in the first place. He did not work to pay this and as far as I am concerned this money should not go towards paying these deadbeats past due support.

Sorry for throwing this in.. I read Bandits post about the 55% going towards child support. I just really wish I could give it back to the government and they in turn FORCE him to find some employment that would help to support the children he made 13+ years ago that he has provided NOTHING for.

he had to have made some money & paid some taxes or he would not be getting that 300 bucks back. I know some people think they are getting free money & handouts but that is not what is happening. He had to work some during the year or he would not have qualified for the rebate. It was not a handout like in free money. iT was tax that (will be collected over 2008) but based on a previous years tax return. 2009 will be stamped stimulus.

if he owes child support then the government decided for him how his tax rebate money would be spent. I would not argue with that too much since they are his kids too & go buy them some new shoes or whatever you think is best.

[Bandit]

You can look at professional tax accountants & see that the questions are answered much better & clearer than the IRS. Like H&RBlock or Jackson Hewit.

While some people may actually be overpaid for this rebate they will not get a penalty for it & in that respect it is because they messed up at the top, not because they actually meant to give you back the greater amount or planned on giving you free money.

You may also receive more in 2009 if they did not send the right amount in 2008 & you can still collect on the tax rebate when you file at that time.

& jimmy cracked corn & I dont care.

[WhatMoney]

Bandit, you are hopeless

The IRS is ADMINISTRATING the stimulus package passed by Congress. It is NOT an advance on your future taxes. The money is not free, it is added to the general deficit. If you already owe the IRS money or child support, of course they are not going to give you a rebate - why should they? That has nothing to do with a normal taxpayer that owes no unpaid taxes and is given this rebate simply to stimulate the economy - with no obligation to ever pay it back. IF you have paid your taxes, you can keep the rebate. They are not going to deduct it next year if you have already received it this year. Even if you refuse to pay your taxes next year (for 2008) they will not deduct it. It is not income.

You must be the last person on earth that doesn't understand the present stimulus program. Everything you are saying is just BS, WHAT are your sources? ANd BTW, there were some totally wrong so called commercial sites that gave out wrong information about this stimulus program early in the year, before they actually had read the IRS and Congress rules. They mislead some people into thinking this was only a tax advance. They were wrong. Don't believe everything your read on the web. You may have been mislead then, and now refuse to accept the actual rules. Anyway I am done - you can keep arguing forever if that makes you happy.

I have not paid any taxes for 5 years, and don't intend to pay any taxes for another 30 years, or as long as I live. So for me it sure is FREE money in that I am not paying it back through future taxes.

Of course the IRS owes me $60,000 in capital gains tax I paid on an unrealized stock option profit, that I never received - so any money I get from the government up to $60,000 is actually mine that I paid them in the 1980's, on non-existent capital gains. But I'm not bitter - it's only my money. Because of the generous $300 check I just received, the IRS now only owes me $59,700.

[Bandit]

Bandit, you are hopeless



You must be the last person on earth that doesn't understand the present stimulus program. Everything you are saying is just BS, WHAT are your sources? ANd BTW, there were some totally wrong so called commercial sites that gave out wrong information about this stimulus program early in the year, before they actually had read the IRS and Congress rules. They mislead some people into thinking this was only a tax advance. They were wrong. Don't believe everything your read on the web. You may have been mislead then, and now refuse to accept the actual rules. Anyway I am done - if keep arguing forever if that makes you happy.

I have not paid any taxes for 5 years, and don't intend to pay any taxes for another 30 years, or as long as I live. So for me it sure is FREE money in that I am not paying it back through future taxes.

you must have some source of income/tax & filing or you would not be getting your free money. that is a rule.

then you just keep believing that everyone is getting free money but i will stick with what the tax professionals have to say about it.
i dont see Hewlit or H&R being wrong.

[WhatMoney]

Well your sources are wrong if they say what you are saying. I've read some of those so-called sources and noted they did not bother to remove them after the facts of the program were published. Wouldn't look good for so-called tax experts to admit being wrong.

My social security retirement benefit is over $3000/year, so I got $300, just like everyone else over 65. I don't pay taxes on social security.

[Bandit]

you still filed a tax return & you had an income...so you are wrong.

http://www.jacksonhewitt.com/?FrequentlyAskedQuestionsaboutthe2008EconomicStimulusPlan#1

you need to read it again, there is nothing that I have said that is BS, but if it makes you feel better to call it free money, & say I am BS, then good for you.

since talking about this silly 300/600 bucks is pretty much worthless to me & is why I have refrained from all other threads like it, I wont be coming back to this one.

nighty night.