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Post by Jim on Feb 10, 2008 8:14:28 GMT -5
So it looks like we're getting a check in May from the US govt to kick start the economy. Just curious if anyone has any creative plans.
I'm using my check to remodel our 1950's terrible pink nightmare bathroom. Down to the studs baby......
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Post by plantsnobin on Feb 10, 2008 10:29:52 GMT -5
Better save it to pay your taxes. Do folks not remember that Bush did this before? Everyone thought it was great-until they found out that it was an 'advance' on what they would have rec'd for refund. Sorry clarkbar, I don't mean to rain on your parade. I know what you mean about those 50's colors. My daughter bought our neighbors place-60's, the kitchen countertop is bright orange, with those very loud, very ugly yellow and orange flowered walls. We painted over the walls, but decided to keep the countertop as it was in good shape. Weird how it has kind of grown on us...Maybe you could put the pink fixtures on ebay, some people are really into 50's kitch.
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Post by PapaVic on Feb 10, 2008 10:29:56 GMT -5
The Bush/Senate/House stimulus plan will be the biggest waste of gov't money since the Iraq War, and will NOT do one lousy bit of good even if the economy stays afloat long enough for the checks to arrive, IMO.
Folks, the situation is dire, and a pocket full of loose change (300, 600, whatever dollars) is not gonna do anyone but Best Buys, Walmart, etc. any good ... and that itty bit of good will be temporary at best.
The banks are broke now. Due to the sub-prime mortgage fiasco, the banks have no money to loan and the Fed will have to infuse them with at least 25 billion to bring the balance back even to a minimal equalibriam. If the banks fail on the current mortgage loans, then the mortgage insurance companies will fail.
Yet instead of taking 150 - 250 billion and securing the dire situation in the bank/mortgage/insurance industry (which is where the EXACT cause of the current economic crisis) the gov't is tossing the voters crumbs in the temporary hope of getting through this election cycle.
Well, to answer your question, C-Bar, no, I have no immediate plans for the measly 300 or so bucks the gov't plans on send me. Hmmmm. Maybe one of those 200.00 collapsable greenhouse dealies and some shelving. Rural King will have a momentary blip on their cash register Z-tape ... my contribution to the "stimulus" bunko plan.
Bill
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Post by Jim on Feb 10, 2008 10:55:46 GMT -5
My understanding of this package is that it will constitute taxable income but it is not an advance of future refunds....Am I wrong?
I'm lucky in that my wife and I get the $1200 check. Most of it will go to a local owned hardware store and some to ikea. I guess the way I'm looking at it is a bit less global. I'm getting cash that I otherwise would not have. I get to do a project a year earlier than budgeted for. And I guess I am a bit happy that I get some small part back from the govt. I've never collected on any program ( welfare, ss, ect. ).
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Post by bunkie on Feb 10, 2008 15:42:33 GMT -5
if it's taxable income, then won't we be paying taxes on it in the end?
i pretty much agree with papavic's post. this check rebate is not the answer.
if we get one, will prolly buy new sheathing for the greenhouse...one side collapsed today with the snow we haven't been able to keep up with...sigh...i think we're gonna move it to a better spot where we can dig it out with a tractor every day, if need be, to keep up with the snow!
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Post by sandbar on Feb 10, 2008 22:44:39 GMT -5
I will probably save ours to pay for the completion of the greenhouse this summer. I still need to purchase concrete for the posts and lumber/polycarbonate for the end walls. That'll take all that and maybe a little more.
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Post by pyrorob on Feb 13, 2008 15:14:12 GMT -5
The banks are broke now. Due to the sub-prime mortgage fiasco, the banks have no money to loan and the Fed will have to infuse them with at least 25 billion to bring the balance back even to a minimal equalibriam. If the banks fail on the current mortgage loans, then the mortgage insurance companies will fail. It's interesting that most people *know* this, but yet there is no one clamoring for the prosecution of the mortgage brokers and real estate brokers who created this mess. Back in the 80's, during the S&L crisis, they started tossing people in jail for fraud, theft, money laundering, tax evasion, perjury, etc. Why aren't they doing this now? They KNOW who wrote the loans. They know who approved them. Because of the foreclosures, they also know who was qualified and who wasn't... Yes PV, I agree with you. As far as the refund/rebate, we will be using it in the opposite way the politicians want us to use it; we will use it to pay down debt, even if it is to make a partial house payment. No sense pissing it away since we will still have to pay taxes on it. Better yet, we'll probably only spend 1/2 on paying down debt, and save the other half to pay the taxes on it. There ain't no free ride. I wonder if they will withhold SS and Medicare taxes from it  --->Rob |
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Post by pyrorob on Feb 13, 2008 15:16:57 GMT -5
one side collapsed today with the snow we haven't been able to keep up with Hmmm, might be able to apply to the state or feds to get a grant to study the effects of the increased snow load due to global warming... --->Rob |
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Post by jtcm05 on Feb 13, 2008 15:48:22 GMT -5
This is not free money people.....its an advance on your 2009 income tax refund. Its funny how they make it so vague that most don't understand that its THEIR OWN MONEY that they're getting back from the IRS. When you file your 2008 tax return, with all other things being equal, your refund will be reduced by the amount of this check.....perfect timing for the end of the worst presidential administration in the history of the US, eh?
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Post by PapaVic on Feb 14, 2008 7:12:32 GMT -5
Papa Vic pulls out a soapbox and wobbles upright ...
I'm down here in the leeward islands for the last full day, watchin' NBC morning news on Virgin Islands broadcast, 8:00 am Eastern Caribbean time (6:00 am CST), and here's Georgie Porgie Puddin' Pie grinnin' like a mule eatin' briars. His stimulation package signed. Woopdie friggin' doo.
So, now we all get a few hunnert dollars, TAXABLE, to piddle away on what? A nice meal and a trip to Best Buys or Home Depot? Oh, and not even until May or June even, since it'll take the gov't 'least that long to run the paperwork through the pugmill ... and how much is that gonna cost on top of the quarter trillion they're wasting on this 'lection year boondoggle. Meanwhile, the recession deepens, consumer confidence continues to plummet, over-extended homeowners continue to default on their subprime mortgages, banks continue to foreclose on homes, eventually the banks will call on the mortgage insurers to make good on the failures ... then all hell's gonna break loose.
So, what's all these politicians grinnin' and shakin' hands about. These gutless Democrats who can't stand up to Georgie Porgie on the war, on the economy, on national health care, and now on this assinine photo-op/politico-grandstanding/boondoggle populace placcating bunch of crap. A total waste of a quarter trillion that actually could do some good if applied directly toward the subprime mortgage/mortgage insurance crisis.
Is this gonna make you vote for McCain? Is that what Georgie Porgie wants? Someone committed to continuing his horrid war and his abismal economic policy? God help us. And how is it we deserve such a spineless bunch of gutless senators and congressmen?
Papa Vic now stomps his soapbox repeatedly and smashes it into smitherines ... kicks the pieces off into the rubbish pile and prepares to enjoy another 80+ degree, sunny, breezy, East Caribbean day. Be safe and be well, gang.
Oh, and Brenda read JayTee's post just above mine, and informed me of what we'll be doing with the "rebate" ... putting it into the envelope assigned for paying 2008 income taxes in April 2009.
Bill
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Post by Jim on Feb 14, 2008 14:53:24 GMT -5
Clarkbar is saddened by the knowledge that 2009 will not be happy at tax time........
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Post by moonlilyhead on Feb 14, 2008 17:17:59 GMT -5
Maybe I should buy a load of "fertilizer," then next year, when they want it back, I'll ship it to them! ;D
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Post by blanesgarden on Feb 15, 2008 6:02:14 GMT -5
Maybe I should by a load of "fertilizer," then next year, when they want it back, I'll ship it to them! ;D LOL, thats funny! You really think, they will want it back?  |
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Post by bunkie on Feb 15, 2008 9:48:20 GMT -5
one side collapsed today with the snow we haven't been able to keep up with Hmmm, might be able to apply to the state or feds to get a grant to study the effects of the increased snow load due to global warming... --->Rob anyone acquiring grants or loans from said state or feds would be insane, imo. moonlily, great idea! ;D peace, bunkie. |
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Post by MawkHawk on Feb 16, 2008 8:16:33 GMT -5
I tore out our rotting deck last fall and am trying to convince my wife to put in a concrete patio with this money. But she wants a flat screen....
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