What will you do with the money?

**Socalgal** · February 8th, 2008, 02:20 AM

It sounds like the so-called "tax rebate" (i.e., the loan from China that's being tacked onto the budget deficit) is all but a done deal.

So.... what are you going to do with the money - provided you get some of it, that is.

**Atomic Rooster** · February 8th, 2008, 02:23 AM

I wont see any of it.

**RobRich** · February 8th, 2008, 02:57 AM

Likely pay it right back to the Treasury Department via the IRS when quarterlies roll around.

I had previously tossed around the idea of stamping "Return to Sender" on the envelope, but then I would probably get audited.

Anyway, like ~$600 is going to change my lifestyle or dramatically increase my purchasing power? If our quasi-elected federal "leadership" wants to impress me, let's actually work on a massive IRS tax code overhaul for long-term results instead of handing out this latest round of insipid rebate checks and corporate kickbacks.

Taking it to another level, if the leadership wants to seriously impress me, dissolve the federal income tax and install a low percentage flat rate tax on all goods and services at all layers of business and commerce with absolutely no loopholes and exclusions provided. The federal tax code could be condensed to a few simple to understand paragraphs, all the while enforcing an uniform tax code process. Conservatives win by shrinking government, cutting costs, and actually lowering taxes for a rather large percentage of citizens. Liberals win by having everyone pay federal taxes on a level playing field, including those pesky multinational corporations using offshore accounting. A small percentage will hurt, but if so, odds are the bulk of such businesses and people were dodging federal taxes through legally questionable loopholes anyway. For them it would be time to pay up, just like most everybody else already has to do.

**sharder8** · February 8th, 2008, 03:00 AM

Did someone say Octo-core???

Crunching is my game!

Harder

**Socalgal** · February 8th, 2008, 03:11 AM

Rob, I also think a consumption tax is the way to go. Give us an incentive to make more and keep more, and not try to find shelters or hide it to avoid taxes, is the way to go. All that extra pocket money will stimulate the economy more than a lousy 600 or whatever one-time bribe. Start giving corporate incentives to hire American workers, rather than oursourcing our jobs, would help, too.

Harder, how many will that make?

**sharder8** · February 8th, 2008, 03:28 AM

Originally Posted by Socalgal

Harder, how many will that make?

Cows or Cores running in the house???

Wifey says I'll have to shut down a minimum of 3 Cows, preferably 5.

Currently I'm running 21 Cows totaling 27 Cores in the house (#22 is my new little EeePC and I'm not done playing with it yet

). I'm currently running ~55GHz, so I'm not sure what the final tally will be for a while yet.

What's the 9 letter word for crunching?

Harder

Addiction

**Socalgal** · February 8th, 2008, 03:30 AM

WHAT? I CAN'T HEAR YOU!

**sharder8** · February 8th, 2008, 04:05 AM

Originally Posted by Socalgal

WHAT? I CAN'T HEAR YOU!

How about now???

Harder

**Keymaker** · February 8th, 2008, 08:35 AM

I'm going to buy a huge case of Fruit of the Loom underwear!

If the lower interest rate merits...It would be wise to use it on the fees for a readjustment..

You do have a fixed rate?

Both are investments

**Vagabond** · February 8th, 2008, 09:25 AM

Other:
I dont think I will be getting one so everyone please spend yours.

**MTAtech** · February 8th, 2008, 10:00 AM

I think my income is too high to get one but if I did, I would just deposit in the bank.

When I was in MBA school, I remember reading Milton Friedman's view of one-time small cash influxes. His view was that such payments do not change spending behavior. In 1976, Pres. Ford gave a $50 tax rebate to every tax-payer. It didn't do anything for the recession. People just took the money and bought whatever they were going to buy anyway.

I'm rather sure this year's rebate will not spur the economy either. One-shot deals don't increase spending unless it's a high amount.

**Pexster** · February 8th, 2008, 10:14 AM

Agreed. Huckabee was right on this one. If you want to stimulate the economy, go build or improve infrastructure. Sending people a few hundred dollars so they can go buy more Chinese crap is like pissing in the ocean (well, Huckabee didn't say that last part).

Personally, whatever I get (if I get) will just go in the bank and I'll put it somewhere in my budget spreadsheet. Probably go towards our vacation to Finland this summer.

**RobRich** · February 8th, 2008, 10:52 AM

Originally Posted by MTAtech

I think my income is too high to get one

What is the currently proposed cap level on income? I haven't been keeping up much with the latest discussion on the stimulus package, as frankly, I lost considerable interest when rebate amounts became the center of the discussion.

**jokostel** · February 8th, 2008, 10:55 AM

New rifle.
If the goverment is stupid enough to give communist handouts that would do spit for the economy, I'll buy a rifle so I can defend myself against their ignorance.
It only makes sense.

Im thinking this :>> http://www.ruger.com/Firearms/FAProd...iew?model=7112
Click the "Product Overview" to see a pic of the rifle.
Still not sure what Id top it with.

**The Real Bingo** · February 8th, 2008, 10:56 AM

I don't think I'm getting any money.

If I was, it would go straight in the bank.

This has to be one of the stupidest things the government has ever done...it's sure as hell up there.

**Chuckiechan** · February 8th, 2008, 11:12 AM

Assuming I get it, I'll spend it like a good trooper.

On what, I don't know. More crap I don't need?

**MTAtech** · February 8th, 2008, 11:15 AM

Originally Posted by Pexster

Agreed. Huckabee was right on this one. If you want to stimulate the economy, go build or improve infrastructure.

Liberals have been saying that for a while.

Originally Posted by RobRich

What is the currently proposed cap level on income?

The legislation would rush rebates - $600 for individuals, $1,200 for couples - to most taxpayers and cut business taxes in hopes of reviving the economy. 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 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. link

**RobRich** · February 8th, 2008, 11:18 AM

Thanks MTA.

**MTAtech** · February 8th, 2008, 11:19 AM

Originally Posted by The Real Bingo

I don't think I'm getting any money.

If I was, it would go straight in the bank.

This has to be one of the stupidest things the government has ever done...it's sure as hell up there.

I agree. The government borrows money that it doesn't have to give 'rebates' to tax-payers who are now on the hook to repay their rebates in the future, plus interest.