What will you do with your economic stimulus package check?

[HungLikeJesus]

Flint, the 150,000 included you, of course.

[Clodfobble]

I checked "durable goods," since it will get lumped in with the money needed to trade in the two-seater truck for a vehicle that can hold more than myself and a toddler at once.

But I haven't been following the news on this in the slightest. Those of you who say you won't get one, what disqualifies you? For all I know I won't be getting one either...

[bbro]

How do you know if you are getting a check or not?

[barefoot serpent]

It calls for tax rebates of up to $600 for individuals and $1,200 for couples, with the payments phased out for individuals earning more than $75,000 and couples earning more than $150,000.

It would provide a minimum payment of $300 for individuals paying less than that in income taxes who show earned income of at least $3,000. And it would provide an additional payment of $300 a child for all families receiving a payment.

[glatt]

At this point, it's all talk, but there seems to be bipartisan agreement, and Bush promises to sign a stimulus package into law. But it hasn't passed yet, so there is no guarantee that it will happen. It looks very likely though.

They are talking about individual taxpayers making less than $75k getting $600 and taxpaying couples making under $150K getting $1200. Non-taxpayers would get smaller checks. $300 and $600. Also there would be $300 per kid under 18.

Edit: What barefoot said.

[Shawnee123]

Of freaking course...EIC ain't enough incentive.

[bbro]

Gotcha.....hmmm. Looks like I am eligible. And I know just where that moola is going if I get any......CREDIT CARDS!!

Whats EIC?

(can you tell I don't pay attention to taxes? This is the first year I will be doing them myself)

[Happy Monkey]

Here's a bit more detail, indicating the end of the phaseout block.

Those making at least $3,000 a year would be eligible to receive a check for $300. Those who pay income tax (earning approximately $50,000 a year and up for a two-income couple), would receive $1,200 rebates per family, or $600 for an individual, plus an additional $300 per child. These rebates would be phased out gradually for families with incomes between $150,000 and $178,000 a year (or for individuals with incomes between $75,000 and $87,000). Wealthier individuals and families would receive no rebate.

[Shawnee123]

bbro...EIC is earned income credit...not a bad thing really, just you wouldn't believe the profits I see people make. But, I'm just bitter today.

lol...if I made 75-80/year I would consider myself pretty freaking wealthy!

[lookout123]

Originally Posted by Shawnee123

lol...if I made 75-80/year I would consider myself pretty freaking wealthy!

no you wouldn't. you would simply have a lifestyle more than capable of consuming that income.

[Shawnee123]

Yep, money doesn't buy happiness, but it's much better to cry in a Porsche.

Besides, yes, I would spend more, but I doubt I would change my rather bohemian lifestyle too much...I just wouldn't have to worry about bills getting paid. I'm not a "I need and want everything" kind of girl.

So, yeah, I'm pretty sure I would consider myself to be pretty freaking wealthy.

[Griff]

I've been thinking of nurturing a heroin addiction. This seems like a good way to get started.

[lookout123]

you should try meth first Griff. It is a lot cheaper and just as easy to get off if you decide to be a quitter.

[TheMercenary]

Originally Posted by lookout123

no you wouldn't. you would simply have a lifestyle more than capable of consuming that income.

What he said.

Wealth? What is it?

I know we have all had this discussion before in one thread or another.

Wealth is relative, sort of like Velocity, ask Zen.

[Griff]

Why choose? The Feds are buying.