Is the government really giving out "fun money?
By dloveli
@dloveli (4366)
United States
February 18, 2008 8:50am CST
I was watching the news about 2 weeks ago and I heard the gentleman mention that the government was thinking of sending everyone between $300 to $800 dollars. A week ago they showed the president signing this legislation. Now the rumors are at full force. I have tried to look online, I have talked to someone who works at the IRS and a few other people. Everyones story is different. The only thing agreed upon is that we are getting some type of reimbursement in or around May. Supposedly the reasoning behind this is that the government wants the country to spend it. By doing this, it will help the economy. I dont know what I believe. A friend of mine, who think she knows everything, says that its something to do with 2008 or 2009 taxes. I did talk to HR Block representative who said "No" my friend doesnt know everything. I could've told him that. lol Seriously, I would like to know if there's any one who can give an honest answer to what this is all about. First, it was only for taxpayers. Then it was for everyone. Even the people on social security, and welfare. Tell me what did you hear?
4 people like this
9 responses
@Modestah (11179)
• United States
19 Feb 08
I read that it is only for those who owed taxes and it would be a percentage of that back - so some will only receive a few dollars while others many dollars. I don't know. I just have to remind myself to not count my chickens before they are hatched, ya know what I mean?
1 person likes this
@creationsbyrobin (3071)
• United States
18 Feb 08
Here's the deal... if you are a taxpayer, then you qualify for $300-$600 (as long as you make less than $74,000 p/yr) If you have children, you will receive $300 per child.
Part of the reason you will not receive money until May the earliest, is because the IRS will wait and see who pays taxes for 2007 and base the amount paid on your tax return.
I would suspect tha many of the rebate checks will arrive in JUne though, so don't count on a May 1st check.
As far as these checks helping to turn the economy around, I also don't see that happening... many families (myself included) will buy food, fuel and pay down bills with the money. Yeah, I'd love to buy that big screen TV I've been wishing for... but I don't see that happening and most of the people I spoke with will pay down their credit cards with the rebate checks.
Oh yeah... 1/3 of the 150+ billion dollars rebate package will be going to businesses
@luvstochat (6907)
• United States
18 Feb 08
I am planning on using mine to help us buy a house this summer I have a savings account that I am going to add the money to for the closing costs.
I will use some to go stock the house up on groceries too. It will take about 10 weeks to get out all the checks so I bet it will be July befor alot of people see their checks.
1 person likes this
@anniepa (27955)
• United States
19 Feb 08
I really had to laugh as I read this post. Leave it to our wonderful government to make something that could be so simple seem sooooo complicated! From what I understand individuals with an annual income under $75,000 will get up to $600 and couples under $150,000 will get up to $1200 and an additional $300 will be given per child in some cases. It will not be deducted from you refund this year or next but you do have to file and pay your taxes if you owe before you'll get the rebate. I think it will come in handy for many people obviously but I sure don't see if doing the economy any good. It's an election year ploy for votes, pure and simple. Like the Bush Administration cares about people like us not being able to pay our bills!
Annie
@dloveli (4366)
• United States
19 Feb 08
I did find out after researching further that it can all be explained in full by checking out CNN money.com article dated 2-8-08. Im also sorry if I offended you by starting this post. I just dont like to listen to rumors and I was curious as to what others may have heard. I have read where you thought I violated myLot guidelines. It wasnt meant to create controversy. It was simply to help individuals like myself who werent sure. Im sorry you took such a personal stand point on it. My apologies as I dont intend to offend anyone.d
1 person likes this
@anniepa (27955)
• United States
20 Feb 08
I never thought you were violating myLot guidelines! I'm sorry, you misunderstood something somewhere. There's nothing at all wrong with what you posted, I told the one poster who wrote nothing at all about the tax rebate but instead was promoting a work from home opportunity, that's who I said was violating the rules. You didn't start any controversy or offend anyone, certainly not me. I said about it being funny how the government makes things so confusing that people can't understand who gets it or how much, that wasn't meant to offend anyone here. I just meant they could make it so much simpler but not our government...lol!
Annie
@sid556 (30960)
• United States
19 Feb 08
They are supposedly going to give us a rebate based on income and family status in hopes of boosting the economy. they are hoping we will spend it on luxuries etc. I really don't see it boosting the economy. The poorer you are...the less you'll get. I don't know...I'll take it. I am sure it will go toward bills but maybe i'll splurge a bit ....we'll see. I'm not sure about people on welfare and social security...i didn't hear about that. My understanding was it was only for taxpayers.
@cricket1 (486)
• United States
19 Feb 08
I don't think people on welfare will get it but it says people on social security who file federal taxes and have 3,000 in income will get $300. I didn't make enough to owe taxes but I made over 3,000 so I figure to get $300. Last time we got a rebate we had to owe taxes. It don't come out of next years taxes but the amount is based on what we make this year 2008. I will catch up on things I need with it.
@dloveli (4366)
• United States
19 Feb 08
I did some further research on the matter. I found out that everyone who submits a tax return for 2007 and makes under $75,000 as a single will receive $600 and $300 for each child. If you file taxes on or before 4-15-08 you will receive it between may and the end of JULY. For more information check out CNN Money.com article date 02-08-08.
@asgtswife04 (2475)
• United States
19 Feb 08
yes, the president did pass this and it should be coming in the mail between may and june. God bless
@asgtswife04 (2475)
• United States
19 Feb 08
LOL! Enjoy yours as well. I can definitely use that to. God bless
@SassyKittyKat (2135)
• Australia
19 Feb 08
Yes, it's definitly gonna happen. It will be after we recieve our regular tax money however. I think around June or something like that. Only people who are working will recieve it though. It's to boost the economy and they want you to spend it as soon as you can. You're not allowed to save it. Although, I don't know how the goverment will know whether you save it or spend it but whatever...
@SassyKittyKat (2135)
• Australia
19 Feb 08
I hear ya on that one! I'm sure they probably will, those meanies pfff...
@p3halliwel2005 (3156)
• Philippines
19 Feb 08
I haven't heard anything about that but if your government is giving out money to their people. Wouldn't that be good? I do hope our government grants us this so called fun money. :)
@DuoMaxwell (953)
• United States
19 Feb 08
Wait a minute...now that you mention something like that, I believe that I've heard something like this last week on "The Clark Howard Show", a show about saving more, spending less, and avoiding getting ripped off. I'm not so sure if it connects to Supplemental Security Income or something similar to low-income earners (BTW, as of January, last month, i'm one of those earners.), he said something about this kind of thing to help people feel that euphoria, the joy of getting and spending money. That's what I heard last Monday. Although i'm not so sure if it ties into this situation.
@dloveli (4366)
• United States
19 Feb 08
Upon further investigation. I found all the answers at CNN Money.com article date 02-08-08. I guess its for all persons that file a tax return for 2007. If you make under $75,000 you will receive $600 and $300 for each child. If you are married and together make under $150,000 you will receive $1200 ($600 each) and $300 for each child. From what the article states we will receive them between may and the end of July. For those that file for an extension, will receive them by christmas. Check out CNN to make sure.
@lavaflow14 (54)
• United States
19 Feb 08
Not meaning to be offensive, but it is obvious that you don't watch the news or follow the economy at all. We are very likely in the middle of a recession and the nation is losing jobs and houses are being foreclosed on. The purpose of the stimulus package is to get people to start spending money instead of cut back on spending to jump start the economy agains.
@dloveli (4366)
• United States
19 Feb 08
I have a sick child so no I dont watch the news as much as I should. Did it really bother you that much to help me out with a little information. If so please except my apologies. SOmetimes there are things more important than the news and that's where friends come into play. WHich is why I asked. I am fully aware of the recession and the problem with Healthcare. I live it on a daily basis. Trying to figure out whether to pay for my childs medicine or a bill. Sometimes its not that easy. ok
