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The "Stimulus"... for Ed...


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Ed, you've admitted you are the banker...

 

Is the stimulus "rebate" an advance against our 2008 Tax Year (payable 15 Apr 2009) tax bill/refunds???

 

I'm guessing yes, but I've not been able to find anyone who says aye, yes, no, or up yours yet...

 

TIA

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I don't know for sure but I would bet you will have to pay taxes on in it! I think the key here is to get the rebate, you must file a return! No return, no rebate! Now I know filing a return doesn't mean more tax money for the coffers but there should be an increase in revenue for the government because people want their rebate! Sorta like getting those coupons in the mail where you can save an extra $20 if you shop at certain stores on certain days! Heck, if ya didn't shop at all, you would save a lot more!

 

Ed Mori

1 Peter 4:10

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I think we all know that this was the wrong way to prime the pump to boot. Had our friends in Washington put some JOBS on the table, either with special factory orders for DOD (they're gonna need one heckuva lot of Humvees and trucks and heeeeleeeeoooo-bopters when we come out of the sandbox, anecdotal reports of equipment wearing out) and the Forest Service/Park Service and...

 

Instead, they do the "Barney" of giving us something that really only helps catch up the mortgage payment or the credit card.

 

A pox on all their houses...

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I agree that the stimulus is a largely meaningless gesture. Fortunately, unlike many government gestures, I don't think this will do much harm.

 

However, I do want to take a contrarian view on the issue of filing tax returns. The law exempts many people from a requirement to file tax returns. There a millions of "non filers" in the US and nobody knows how many of them are legitimately classified as not required to file. From my experience there are a lot of non filers out there getting a free ride.

 

If greed for the rebate induces some non filers to submit a tax return and get into the system, then that would be beneficial side effect.

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