Almost official

[SgtMaj]

Well it's almost official... Congress passed and sent the economic stimulus package to the president who already indicated he would sign it.

"The legislation would deliver rebates -- $600 for individuals, $1,200 for couples -- to most taxpayers, plus an additional $300 per child. Individuals making up to $75,000 a year and couples earning up to $150,000 would get the full rebate, with those making more than that or too little to owe taxes getting smaller checks.

People who paid no income taxes but earned at least $3,000 -- including through Social Security or veterans' disability benefits -- would get a $300 rebate."

According to the article located here, almost everyone would get something... except those who earned less than $3000... though it was unclear about how much someone or couples would received if they made more than the max (I'm assuming $300 from the way the article was written).

So... WITHOUT debating politics in any way in here... will anybody else rush out and spend some of it on their boats? I know I will. This is just the break I need to finish up some major projects. Who knows, with enough elbow grease, I might just make it out on the water this year after all.

SgtMaj

 

[wildmaninal]

Re: Almost official

So... WITHOUT debating politics in any way in here... will anybody else rush out and spend some of it on their boats? I know I will. This is just the break I need to finish up some major projects. Who knows, with enough elbow grease, I might just make it out on the water this year after all.

SgtMaj

I'll be paying bills and other debts . If I see any kind of money. Be nice to be able to spend $130 (at tops) to finish my bass boat up.

 

[JB]

Re: Almost official

I ought to get enough to cover gasoline and propane for about a month.

Um. . .well maybe just the propane.

I would like to make a political comment here, but then I would have to edit myself.

 

[wildmaninal]

Re: Almost official

I would like to make a political comment here, but then I would have to edit myself.

LMAO JB, or ban yourself for a month lol.

 

[SpinnerBait_Nut]

Re: Almost official

Please folks, tread lightly on this one.

 

[Haut Medoc]

Re: Almost official

I like GUBMINT cheese.....

 

[Plainsman]

Re: Almost official

I want Gubmint oil

 

[DJ]

Re: Almost official

Don't qualify and damned proud of it.

I always knew those years of having nothing would pay off.

 

[oops!]

Re: Almost official

Don't qualify and damned proud of it.

I always knew those years of having nothing would pay off.

thats funny.......

reminds me of dr, johnny fever

"i started in this buisness with just the clothes on my back...after that it took me 10 years of hard work to keep them"

 

[SgtMaj]

Re: Almost official

Let's not make this political ppl... it was a simple question of if you'd spend any of it helping the marine industy stay afloat (pun intended).

SgtMaj

 

[ziggy]

Re: Almost official

hopefully, i'll be able to put any bread the govt puts me onto into saveings. but if i run outta money for boat stuff, like boat fuel, or boat parts, i'll probably spend it, if i get it, which i'll believe when i see it. last time the govt. gave folks money, i didn't qualify cause i didn't make engouh, go figure. i think i'd rather live w/o the rebate if the govt. is borrowin the bread from china to pay us though..... that just seems like a real bad idea if were already in debt. which we are...... if folks ran their household finances like the govt., they'd throw the folks in jail for being criminals.... more tax dollars at work......

 

[BoatBuoy]

Re: Almost official

... will anybody else rush out and spend some of it on their boats?
SgtMaj

Probably not. Other household priorities will probably prevail.

 

[Bob_VT]

Re: Almost official

Fuel Oil or Insurance...... Not wallyworld

 

[Caveman Charlie]

Re: Almost official

600 dollars is half of what I paid for my boat. I'll put it in savings and then whittle it down using it for fuel to tow the boat . Or, tow the camper.

 

[v1_0]

Re: Almost official

So... WITHOUT debating politics in any way in here... will anybody else rush out and spend some of it on their boats? I know I will.
SgtMaj

I'd be careful about rushing out - you should make sure that you won't owe the money back later...

If this is like it was the last time what you are getting is "an early tax overpayment refund" for 2008. That's fine and good if you overpay your taxes (or will for 2008). If not, you should put the money in the bank for when you do your 2008 taxes.

Kinda reminds me of that joke: two friends are on their way to a bar and take a shortcut. Half way there they are stopped by a man with a gun who demands their money. The first friend turns to the second, gives him 50$, and says - here's that 50$ that I owe you. The robber blinks, smiles, then takes out 300$, gives it to the second man and makes the first man borrow it...

-V

 

[gonefishie]

Re: Almost official

Good point there v1_0, I wonder if you would have to report that on your 2008 return as taxable income or non-taxable(gift). I hopes it the latter.

 

[External Combustion]

Re: Almost official

Probably so, but I will do it the government way. We have already bugeted for hull maintenance, fuel, oil and transportation this year and we will not increase our "standing commitments" during this fiscal year as that would be irresponsible. Since our boating budget comes out of our "general fund" and this is "windfall profits", then we will tax our "windfall profits" and give it to the programs of our buget that are less fortunate. Since our boating buget is always tight and helps out the old, the handicapped and those on a fixed income, it will benefet the most from the new tax. We will have to enact a special program to use up the new tax and lobby Cogress to replace it next year or else our boating program will have to be reported as being cut, thereby singling out the old, the handicapped and those on a fixed income as bearing the burden of reduced taxes!

Do you think I can get Congress to give me more of someone elses money next year?

 

[aspeck]

Re: Almost official

From what I am hearing, we should get the $ sometime in May, just in time for boating season! Why May? Because the IRS is too busy right now to cut any checks!

 

[cbavier]

Re: Almost official

CNN ask this question this afternoon as a point of debate. "Is it going to be a Gift or a Loan. The economic stimulus package? Taxable or not?"

It probably depends who wins in November. It will take our present congress at least that long to reach a decision as to which it is. Then there's no guaranty of an answer. They may leave it to our next President.

But we still live in one of the best and richest country in the entire world. Thank God!
I figure it will fill my Boat and Truck at least one time so I'm good for a Fishing Trip or two and maybe three trips around The lake.

 

[Caveman Charlie]

Re: Almost official

I found out today that beer went up. It's 21.50 for a case of bud now. I guess my stimulus package will go to the liquor stores. lol