Thanks Bush. =/ I will buy an MGS4 Bundle with my $600 tax return.

Yes, that's the plan. Anyone who made more than $3000 in income last year will see a $600 tax return, mailed to your home. Besides, I dont want to keep his dirty and bloody money. I'll use it to get the MGS4 bundle or if I cant wait, I'll just buy a PS3 now and pre-order MGS4. What are you going to do with your $600 tax return?

only if you are not claimed by a parent, i made over 3000 but my parents claim me, so no money for me...bluntmastaslaya

Ask your parents to give you the money haha.

[QUOTE="bluntmastaslaya"]only if you are not claimed by a parent, i made over 3000 but my parents claim me, so no money for me...LuckyLy

Ask your parents to give you the money haha.

hahaha yeah.... i wish.

Mail it back to the future government. Trust me they'll need it to pay off you know who's costly mistakes. ;)Hoobinator

:lol: For the children.

Go Obama!LuckyLy

I'll second that lol :D

Put it towards bills...

I am getting the MGS4 80GB Bundle, though. :)

It's not a free $600.emitsu97

It's not a free $600.emitsu97

pretty much

You know you have to claim it on next year's taxes, right? I think he should have put that $150 billion toward our national debt, but that's just me.Voidance2

huh?

Go AWAYObama!LuckyLy

Fixed. ;)

I just went to go get the official word from irs.gov and was surprised to see the following:

"Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment."

And...

"Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return."

Both answers were different from what I had previously come across. Weird, but cool. I still can't help but feel this is going to have some sort of sting attached to it.

Go Obama!LuckyLy

Mail it back to the future government. Trust me they'll need it to pay off you know who's costly mistakes. ;)Hoobinator

Lord Voldemort is dead!

Haha, just kidding.

Edit:

IMO, I think everyone should just put the money into a bank or savings account. Everyone who goes out and spends the money on retail goods and what not are just playing into what the government wants them to do. I say it's time to stick it to the man(men).

Mail it back to the future government. Trust me they'll need it to pay off you know who's costly mistakes. ;)Hoobinator

Lord Voldemort is dead!

Haha, just kidding.

i get my $300 on may 9th.

found it out here.

I just went to go get the official word from irs.gov and was surprised to see the following:

"Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment."

And...

"Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return."

Both answers were different from what I had previously come across. Weird, but cool. I still can't help but feel this is going to have some sort of sting attached to it.

emitsu97

lol Yeah, a brain dead idiot screws up your country and "Here's $600!"

..all is forgiven :P

The reason why they are issuing the stimulus rebates is to spur the economy. Paying down national debt does not get the effect that we need to get out of the recession.

Typically, the options to get out of recessions are to issue tax cuts (the stimulus rebate) or to increase government expenditures such as building parks and programs and such (Creates jobs and such).

The government expenditure approach is more effective but it takes a longer time to affect the economy. That's why we settle on a less effective but also viable option of issuing the rebates.

The gov't wants you to go out and use these rebates to purchase things and that's also why the fed discount rate has been cut so much lately...to increase spending.

The reason why they are issuing the stimulus rebates is to spur the economy. Paying down national debt does not get the effect that we need to get out of the recession.

Typically, the options to get out of recessions are to issue tax cuts (the stimulus rebate) or to increase government expenditures such as building parks and programs and such (Creates jobs and such).

The government expenditure approach is more effective but it takes a longer time to affect the economy. That's why we settle on a less effective but also viable option of issuing the rebates.

The gov't wants you to go out and use these rebates to purchase things and that's also why the fed discount rate has been cut so much lately...to increase spending.

EDIT: I'll be using my rebate along with my tax return to buy a really nice suit and to help fund my videogame collection this year.

We're in a recession? When did this happen? The NBER hasn't said anything, and the definition that most economists use includes two consecutive quarters where GDP does not grow. The GDP for last quarter grew by 0.6%. The GDP hasn't been released for the quarter that just ended, and won't be until May.

I think the stimulus plan will work for the most part, but the end result will be higher inflation than what we are experiencing now. The economy, like always, will balance itself out sometime.

only if you are not claimed by a parent, i made over 3000 but my parents claim me, so no money for me...bluntmastaslaya

Savings are at an all-time low. It was -1.6% in 2005 and I dont want to even imagine it now. If you dont have over $9,000 in debt, then your neighbor does. It's pretty sad.Elann2008

this is so true its sad and i dont know how we are gonna get out of this mess but taking out the middle class is all in the master plan of the government just wait as we like to say

[QUOTE="Elann2008"]Savings are at an all-time low. It was -1.6% in 2005 and I dont want to even imagine it now. If you dont have over $9,000 in debt, then your neighbor does. It's pretty sad.njean777

this is so true its sad and i dont know how we are gonna get out of this mess but taking out the middle class is all in the master plan of the government just wait as we like to say

It's funny you talk about the shrinking middle class. I'm writing a research paper about it as we speak. The rich get richer...Obama gets my vote for sure but one of his biggest reasons are his economic intentions. He wants a very progressive tax structure which will definitely help to redistribute the income and make sure we stay competitive.

Depending on how big my economic stiumlus package is, I see a PS 3 in my near future. Just have one teeny little question though, are the 40 gig and 80 gig models backwards compatible with PS 2 and PS 1 games? I heard that one of them weren't, but I forget which one!RatchetJunkie20

The 80 gig is backwards compatible with both PS2 and PS1 games. The 40 gig is only compatible with PS1 games, NOT PS2 games. If you forget by the time you get to the store, check the back of the box.

[QUOTE="LuckyLy"]Go Obama!sniper_99

I'll second that lol :D

i don't even live in the states and i support this comment!

i get my $300 on may 9th.

found it out here.

Heydanbud92

Cool. According to the Kiplinger wksheet linked in the first answer, I'll get $600 direct deposit on the 9th. I'll be on vacation back in the states at that point so it'll be perfect.

EDIT: Oh, and, uh, Go Obama!!

Mail it back to the future government. Trust me they'll need it to pay off you know who's costly mistakes. ;)Hoobinator

So true.

If you are claimed as a dependent on your parents taxes they can recieve an extra amount. That DOES NOT take away from the 600 you will receive on your own if you earned at least 3,000 last year. _instinct_

Wrong, dependants are not able to get the refund. It tells this in the filing documentation.