Stimulus Check
 

Who knows how much (More than Bush's $600) and when? :ss

Re: Stimulus Check
 

Hopefully none! The Govt needs to stop spending my kids taxes.

Re: Stimulus Check
 

Re: Stimulus Check
 

Wow they have a website on this.

Re: Stimulus Check
 

It seems to be unofficial... :ss

Some more news to report on the 2009 stimulus check…

The recent stimulus package passed by congress (American Recovery and Reinvestment Act of 2009) has now had the finer details examined and it can now be confirmed that the only mention in the act that relates to a 2009 stimulus check is by way of a section describing a tax credit which will be the lower of $500 or 6.2% of the yearly income of a taxpayer.

So any taxpayer who earns $3100 or more per year will receive a credit of $500. If the taxpayer earns less than $3100 per year then the 2009 stimulus check will be 6.2% of the yearly income. For joint filers the maximum figure is $1000.

If you qualify for a check then in order to receive it you need to file your taxes. For this I recommend TaxAct who provide a free service along with their paid services and can get your refund in as little as 9 days. For more information click here.

For those interested in studying the actual wording of the Act, they will find this in section 1001 of the American Recovery and Investment Act of 2009. This section is titled “Making Work Pay Credit”. There is no actual mention of a 2009 stimulus check.

One other hoped for stimulus was conspicuous by its absence from the stimulus package. This was the possibility for penalty free access to retirement funds, be that a 401(k) or an IRA fund. It was hoped by many that in the case of hardship a withdrawal would have been possible without incurring a penalty. This approach was favored over the 2009 stimulus check proposal by many experts as this would have resulted in a stimulus to the economy without it being at the expense of the taxpayer.

Re: Stimulus Check
 

The majority are going to take that money and throw it in to pay off debt. Where does that lead to? Not much stimulating of the economy I think.

Re: Stimulus Check
 

From what i understood is that it will be double what Bush did and you only get it if you have kids living with you..So single and married couples with no kids living at home anymore get nothing..

Re: Stimulus Check
 

I would rather have a tax CUT.

Re: Stimulus Check
 

This.

Re: Stimulus Check
 

Mine will go to paying estimated taxes:r

Re: Stimulus Check
 

Yeppers. But it gives those receiving the checks the warm and tinglies, and that's what this "recovery act" is all about...always a nice feeling to get a small portion of the money you made back after someone else takes it.


Large-scale across the board tax cuts (because a recession is not the time for class envy squabbles) and capital gain cuts will provide both the stimulus for short term and the long term foundation for economic growth. BUT, its tough to get reelected on that platform.

My big fear, besides my current unemployed status, is the inflation that is likely to hit before the next presidential election, when much of the spending is slated to take place....especially now that China is no longer buying our paper.

Re: Stimulus Check
 

Stimulus didn't work last time, what makes him think it will work this time. People need jobs not $600 checks.

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:tpd: BINGO!!

Re: Stimulus Check
 

I to would rather have a tax CUT! I just received a 1K bonus check for passing a security test and almost $400 bucks went to the gov.:fl

Re: Stimulus Check
 

Same here.
Last year it went to an airline company for a trip to Philly.

Re: Stimulus Check
 

Financial institutions have outstanding debts equaling almost twice the amount of money in the world right now. What we need is wealth creation. Not much positive that any government can do except get out of the way. Tax cuts would allow you to create more wealth. Government spending takes wealth away or just moves it around. The problem was allowed to get too big. "Too big to fail." Or too big to safely fail. A lot of that debt is going to have to become null and written down because the hard assets never existed in the first place. It looks like it will take a long time to unwind the mess.
Do what you can but don't look to the government for help. They are busy ignoring the law of holes.

Re: Stimulus Check
 

Mine would def go to paying off a credit card

Re: Stimulus Check
 

I just checked my stimulus and it's still there! Waka Waka!

MCS

Re: Stimulus Check
 

Stimulate the economy - shut down the government for 12 months.

AND, check the back taxes on all the senators serving in congress, what will be made there can probably pay off a small portion of the national debt.

Re: Stimulus Check
 

I like it! :D

Re: Stimulus Check
 

Same as last time for me. :usa

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I love our governor here in WI, he is so wise and wonderful (NOT).

He talks about what we need to do in WI to entice new firms to settle in our fair state. And then, in the next sentence, he talks about the fact that we need to raise taxes on corporations because of shortfalls.

Duh!!! Do you hear yourself talking? What is so funny, is my 14 year old pointed out the inconsistency to me when he heard it. Why didn't I think of it? Well, when our illustrious governor is speaking, I usally change the channel because he usually causes this reaction in me... :pu

Re: Stimulus Check
 

I'd settle for a statement signed by Congress that acknowledges that tax revenues are OUR MONEY and not some personal piggy bank for them to raid.:fl

Re: Stimulus Check
 

That's what you're NOT supposed to do.

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But that is exactly what the smart person is going to do when they get the money.

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:tpd: We already pay way too much in taxes and a bigger break would be greatly appreciated.

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Permanent tax cuts would be great. That'd be a great start to the economy. Or course, it'd be nice if credit card companies used their noggin a bit, there are too many people out there with no common sense and getting themselves in too deep w/regards to credit. Then, they cannot figure out why they cannot pay of credit cards and other things.

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Even the acknowledgement would be too much to ask

However, back to topic, any word on new stimulus checks? I have some bills to pay.

Re: Stimulus Check
 

Not really a tax CUT (as it's designed to be revenue neutral) is the
Fair Tax proposal.
It takes power away from Washington DC, so both parties don't like it.
This would end the recession and start a huge economic growth cycle before it even took hold. Too smart of a thing for them to do, but it hasn't gone away.

Re: Stimulus Check
 

What about a flat tax that is not progressive?

Re: Stimulus Check
 

That would work for fairness, but the Fair Tax plan would repatriate and bring in new foreign investment very quickly.
We are talking about stimulus on a countrywide scale that would take place even before the plan was fully executed.

Re: Stimulus Check
 

Instead of giving away money we don't have, how about across the board the first $100,000 you earn is tax free and a flat tax of 30% or 40% for every dollar earned above that, period, no deductions, no nothing.

The bottom 50% of tax payers pay such a small amount of the total taxes collected that it wouldn't make much difference in what is collected, yet would make a very big difference in what the people could put back into the economy.

We wouldn't be throwing good money after bad (over and over again) and won't be funding special interest groups and social programs by putting this country (and our children) into a deeper dept.

Let the people who work and the businesses who put people to work keep more of the money that they have earned instead of putting a greater tax burden on us. If is done, the country will recover at far faster rate than if we let the government spend money we don't have, on new never ending social programs that only increase our dependance on the government. When we come to depend on the government for everything, we won't be any different than the citizens communist Russia.

Take care.
Ken

Re: Stimulus Check
 

None. I don't want a hand out.

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I hope they send me some of my money back. It's not a hand out. It's my money and I want it back. I would prefer they just take less, but thats not gonna happen anytime soon.

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We shouldn't worry about haw best for the government to get the most money it can from the wealth creators but how best to create more wealth to collect from. Everybody should pay something or they don't have a stake in the system. If more than half the people don't pay anything then they only need to use their majority to take more from the people who do have to pay. We are at that point now, it goes downhill from here.

Re: Stimulus Check
 

Couldn't have said it any better.

Re: Stimulus Check
 

That I would like to see. Little over a year ago I had a 5 year audit. Three years were fine - two were not. The way they came after me after the audit to collect that money was like I was public enemy number 1.

I say do the same to those senators - :ss


Ron

Re: Stimulus Check
 

I would say a bigger problem lies in those who won't work, that feel they are entitled to the money earned by those who do and then only encouraged to ask for more because the government feels it is Robin Hood. Well at least they are getting the Hood part right;)

The economy will turn around faster if those who work are allowed to keep more of what they earn instead of the government taking from those who work and give it to those who won't.

Take care.
Ken