 
Darwinism
Member
Username: Darwinism
Post Number: 730
Registered: 06-2005
| | Posted on Thursday, April 24, 2008 - 9:32 am: |    |
Uncle Sam will start sending out tax rebate checks in about 3-4 weeks, to everyone who had filed their tax returns. The amount will range from about $600-$1500 depending if you are single, married and so on.
What do you plan to do with the money?
It is widely perceived to be unAmerican and unpatriotic if you do not spend that money shopping and buying things.
However, many pundits are predicting that the majority of Americans will be spending that money on necessities such as gas and food with prices rising sharply each and every day.
What will DetroitYes members spend that money on? |
Hockey_guy
Member
Username: Hockey_guy
Post Number: 33
Registered: 11-2007
| | Posted on Thursday, April 24, 2008 - 9:54 am: | |
I'm saving it |
Sirrealone
Member
Username: Sirrealone
Post Number: 140
Registered: 01-2007
| | Posted on Thursday, April 24, 2008 - 10:03 am: | |
Into our Roth IRA. We're spending a majority of our 2007 refund on home improvements, and that is bigger than the rebate, so I don't feel like we're being unpatriotic by investing the rebate check. |
East_detroit
Member
Username: East_detroit
Post Number: 1705
Registered: 11-2003
| | Posted on Thursday, April 24, 2008 - 10:04 am: | |
I figured I'd drive my Toyota over to Walmart and spend it all there.
Sure, Ford quality is now second to none and Walmart gets all their stuff from China, but its all about me. |
Applesauce
Member
Username: Applesauce
Post Number: 156
Registered: 06-2007
| | Posted on Thursday, April 24, 2008 - 10:05 am: | |
I'm getting some much needed cement work done, among other home improvements. |
Craig
Member
Username: Craig
Post Number: 748
Registered: 02-2007
| | Posted on Thursday, April 24, 2008 - 10:17 am: | |
Good question, Darwin. The Republican side of my brain wants to invest the windfall (or deferred tax bill, really), but the Dem side wants to buy Michigan-made products. |
Detroitnerd
Member
Username: Detroitnerd
Post Number: 2214
Registered: 07-2004
| | Posted on Thursday, April 24, 2008 - 10:19 am: | |
Early June cookout? Like having two Fourth of July holidays in one year.  |
Lo_to_d
Member
Username: Lo_to_d
Post Number: 68
Registered: 07-2007
| | Posted on Thursday, April 24, 2008 - 10:22 am: | |
I will spend every single penny of it in the city of detroit at local businesses. I encourage you all to do the same. |
Otter
Member
Username: Otter
Post Number: 111
Registered: 12-2007
| | Posted on Thursday, April 24, 2008 - 11:37 am: | |
Saving, saving, saving. If I'm lucky it will make up fora decent chunk of the tax check I had to write the other week. |
Bobceng
Member
Username: Bobceng
Post Number: 57
Registered: 04-2008
| | Posted on Thursday, April 24, 2008 - 11:43 am: | |
Otter: ditto! |
Sknutson
Member
Username: Sknutson
Post Number: 1124
Registered: 03-2004
| | Posted on Thursday, April 24, 2008 - 11:44 am: | |
I will be saving 100% of it. When we are wasting billions every month in Iraq, my $600 won't revive the economy. |
Miketeevee
Member
Username: Miketeevee
Post Number: 47
Registered: 07-2005
| | Posted on Thursday, April 24, 2008 - 12:02 pm: | |
Major donation to the legal defense funds for Kwame Kilpatrick and Christine Beatty. They need our help.
Just kidding. We're putting our rebate toward our home equity loan. |
El_jimbo
Member
Username: El_jimbo
Post Number: 649
Registered: 12-2006
| | Posted on Thursday, April 24, 2008 - 12:28 pm: | |
Mine is going either to the wedding fund or towards a downpayment on a house. |
Mikem
Member
Username: Mikem
Post Number: 3612
Registered: 10-2003
| | Posted on Thursday, April 24, 2008 - 12:37 pm: | |
Not getting one  |
Johnlodge
Member
Username: Johnlodge
Post Number: 6300
Registered: 10-2003
| | Posted on Thursday, April 24, 2008 - 12:40 pm: | |
I will be spending mine on home improvements. |
Cambrian
Member
Username: Cambrian
Post Number: 1860
Registered: 08-2006
| | Posted on Thursday, April 24, 2008 - 12:59 pm: | |
I may buy a second more fuel efficient vehicle. I will be changing jobs soon, and long commutes and a truck that gets 17 MPG at $4 / Gallon won't cut it. |
Professorscott
Member
Username: Professorscott
Post Number: 1229
Registered: 12-2006
| | Posted on Thursday, April 24, 2008 - 1:05 pm: | |
We're saving it because we don't believe the government will actually let us keep it. I'm fully expecting to have to pay it back or at least pay taxes on it next year. If that doesn't happen, then maybe we'll spend it. |
Mortgageking
Member
Username: Mortgageking
Post Number: 50
Registered: 12-2006
| | Posted on Thursday, April 24, 2008 - 1:54 pm: | |
quote:Not getting one .
Chest thumper. |
Higgs1634
Member
Username: Higgs1634
Post Number: 389
Registered: 10-2005
| | Posted on Thursday, April 24, 2008 - 2:25 pm: | |
quote:We're saving it because we don't believe the government will actually let us keep it. I'm fully expecting to have to pay it back or at least pay taxes on it next year. If that doesn't happen, then maybe we'll spend it.
Notwithstanding the ridiculousness of this little bit of latter day bread and circuses...at least we won't get taxed on it.
From IRS.gov---
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.
Now, of course, after HRC is elected, the astronomical tax increases will wipe out whatever meager benefit this "prosperity dividend" may have on anyone's saving. Might as well just blow it... |
Eriedearie
Member
Username: Eriedearie
Post Number: 1356
Registered: 08-2007
| | Posted on Thursday, April 24, 2008 - 3:02 pm: | |
Mine is going into my savings account.
BTW are those checks supposed to come at the same time as the Federal Tax Refund? |
Johnlodge
Member
Username: Johnlodge
Post Number: 6306
Registered: 10-2003
| | Posted on Thursday, April 24, 2008 - 3:05 pm: | |
No. I got my Federal Tax Refund awhile ago, they are seperate. |
Wash_man
Member
Username: Wash_man
Post Number: 742
Registered: 05-2006
| | Posted on Thursday, April 24, 2008 - 3:16 pm: | |
Direct Deposit Option:
If the last two digits of your Social Security Number are:
Your economic stimulus payment deposit should be sent to your bank account by:
00 – 20 May 2
21 – 75 May 9
76 – 99 May 16
Paper Check Option:
If the last two digits of your Social Security Number are: Your check should be in the mail by:
00 – 09 May 16
10 – 18 May 23
19 – 25 May 30
26 – 38 June 6
39 – 51 June 13
52 – 63 June 20
64 – 75 June 27
76 – 87 July 4
88 – 99 July 11 |
French777
Member
Username: French777
Post Number: 420
Registered: 10-2006
| | Posted on Thursday, April 24, 2008 - 3:18 pm: | |
Our family does not qualify |
Udmphikapbob
Member
Username: Udmphikapbob
Post Number: 564
Registered: 07-2004
| | Posted on Thursday, April 24, 2008 - 3:22 pm: | |
Would like to pay off debt, but house needs new A/C. Any HVAC contractors here want to hook a brutha up? |
Mcp001
Member
Username: Mcp001
Post Number: 3381
Registered: 11-2003
| | Posted on Thursday, April 24, 2008 - 3:33 pm: | |
"unAmerican and unpatriotic " according to whom?
junior?
Half going towards bills. Half going into savings. |
Darwinism
Member
Username: Darwinism
Post Number: 731
Registered: 06-2005
| | Posted on Thursday, April 24, 2008 - 4:00 pm: | |
quote:"unAmerican and unpatriotic " according to whom?
Who else - according to our current Administration under George W. Bush that is? Our President expects us to stimulate the economy by spending our tax rebate checks as soon as we receive them. Basically, we are supposed to go on a shopping spree.
Metro Detroiters should be more concerned about gas and food prices, as well as job stability and household cash flow. So, I agree with you MCP001, the money should indeed go to your bills and into your savings account. |
Cambrian
Member
Username: Cambrian
Post Number: 1863
Registered: 08-2006
| | Posted on Thursday, April 24, 2008 - 4:03 pm: | |
Wash man,
If you used DD for the federal return, then the stimulus check will also be DD? |
Bratt
Member
Username: Bratt
Post Number: 728
Registered: 01-2004
| | Posted on Thursday, April 24, 2008 - 4:09 pm: | |
Yes Cam...
Mine is going into savings. I just did something that was not necessary. I hired a company to come out weekly and pick up dog poop. I feel a little bad about it...so I think I need to save some money to make me feel better. So no shopping for me. |
Carolcb
Member
Username: Carolcb
Post Number: 4231
Registered: 11-2006
| | Posted on Thursday, April 24, 2008 - 4:10 pm: | |
We are buying a gas Maytag stove - (800) with a fifth burner in the middle, and a oven that has the upper rack that splits (you can put a turkey on one side and two casseroles on the other two racks. I'm excited to get rid of this darn electric stove. |
Wash_man
Member
Username: Wash_man
Post Number: 743
Registered: 05-2006
| | Posted on Thursday, April 24, 2008 - 4:13 pm: | |
"Wash man,
If you used DD for the federal return, then the stimulus check will also be DD?"
That's the way I read it. Mine will be deposited 05/09! |