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Economic Stimulus Package and Rebate Checks

Would You Prefer If Rebate Checks Never Existed?

You all have had mixed feelings about the tax rebate check that's part of the $168 billion economic stimulus package. Many of you will be receiving the check this summer, but you've also shared your disbelief that the rebate checks will actually stimulate the economy enough to make a difference. In fact, some of you think it's going to do more harm than good. On top of that, many of you have said that all of this rebate talk makes your head spin. I'm left wondering if you'd rather not get the check at all, or if your feelings of uncertainty and confusion take a back seat to the fact that you'll be getting some extra cash.


terryt18 terryt18 9 years
I'm not going to cash mine. I plan to frame it as a reminder of how irresponsible our government is.
mandy_frost mandy_frost 9 years
I think it's terrible economics, but that doesn't mean I'm not going to take it.
CestLaVie CestLaVie 9 years
At first I was like "rebate check? COOL!" but now it just confuses me. I don't even know who gets them and if I will or not but if I do it just seems like more pain than it is worth- especially if it is like $20.00 or something. I haven't had to PAY when doing taxes yet but now it just seems like something else I am going to have to remember to write off next year.
supercoolnat supercoolnat 9 years
why don't they just let you pay less taxes? oh yeah, because they're trying to trick you into spending more money.
reeveske reeveske 9 years
My financial advisor was explaining to me that while this technically isn't an advance on your 2008 tax return, when something similar to this happened in the early '90's (where the govt issued rebate checks), people were pretty upset that they recieved a much smaller refund the next year than what they had anticpated. He advised me to put it to good use, placing it in my savings or paying off cc debt (esp since our available balance on our cc's is about to be impt, in case that happens next year.
Casasailer Casasailer 9 years
It is an advance on your 2008 tax return. I think it is a waste of time. Why don't we take the same amount of money and fix the bridges/highways/schools in this country which creates jobs and actually does something?
Leilanic1 Leilanic1 9 years
well unfortunately my 'tax rebate' will be going to pay down the $2500 bucks i owe in taxes. :(
DreaAST DreaAST 9 years
I can't wait to get it!
freegracefrom freegracefrom 9 years
Well, my tax guy confused the heck out of me. He told me it WAS an advance on next year's tax rebates. Not going to H&R Block again - that's for sure. When the economy not doing so hot right now, I think most people would rush to pay off debts or save. That doesn't mean the money gets put back into the economy.
ElissaM ElissaM 9 years
I may use mine for vacation spending money...not sure yet
cvandoorn cvandoorn 9 years
I don't care, its money!
Liss1 Liss1 9 years
Thanks for the info Skinnymarie and wingedkiare. That makes me feel better i had heard some where that it would mess up our nexts years return, now i can spend and not think about it :)
wingedkiare wingedkiare 9 years
lemonfizz - it makes you wonder whether or not we learned anything from the Stock Market crash in the 20's. There wouldn't have been a depression if so much of the population hadn't been buying things on credit. Also, for my own two cents, I don't think that this will necessarily work. It'll find its way back into the economy, but not on the larger ticket items that people think it will be. It'll be part of someone's rent, their credit card bills. And a large percentage of people I know are putting it in their savings! Which completely defeats the purpose.
megnmac megnmac 9 years
I still don't get what it is, but worry I'll have to pay for it somehow...
wingedkiare wingedkiare 9 years
Liss - it isn't an advance of next year's return at all. It's actually a check from the government that's supposed to be used to promote additional spending. Completely separate from your tax return.
SkinnyMarie SkinnyMarie 9 years
If you file your taxes for 2007 and qualify for a rebate check, the rebate amount will appear on your 2008 tax return as tax credit. You won't get any less of a refund than you normally would for your 2008 tax return (which you'll file in 2009). If you didn't qualify for the rebate based on your 2007 return but your situation in 2008 changes so that you do qualify, the government will send you a rebate check next year. -Savvy Sugar 2.15.2008
Liss1 Liss1 9 years
I think it is an advance of next years return and in that case i would prefer not to get it i would rather get a bigger check back next year. I like getting my refund.
lemonfizz lemonfizz 9 years
1) I'm still confused about whether I get to keep the money, or whether it's an "advance" on my 2008 tax return, in which case I'm sure I'll end up having to give most of it back. 2) I worry that our economy seems to depend so much on people *spending*, i.e. buying things on credit. That can't last forever.
aimeeb aimeeb 9 years
Uh oh... Ya he told me about it on the phone the other day. I didn't think you'd be receiving anything in the mail so I was a bit confused. Whatever he rcv'd he sent it back... I'll have to try and get in touch with him. Uh oh...
Smart-Living Smart-Living 9 years
aimeeb- He shouldn't have to fill anything out. The only requirement for those eligible to receive the check is to file your 2007 taxes. I'm concerned that what your brother received is a scam — hopefully he didn't send it back?! Savvy
aimeeb aimeeb 9 years
My brother got a form to fill out for this a few weeks back, I haven't seen a thing. Anyone else rcv'd anything in the mail about this?
RosaDilia RosaDilia 9 years
I guess it depends what every indivual plans to do with it. I'm going to use it to pay off my son's private school tuition. I have friends who plan to purchase new TV's and furniture.
Lovely_1 Lovely_1 9 years
I'm Canadaian so I don't think this applies to me...
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