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The "Stimulus Plan" - Page 3

Poll Results: How will you spend your "Stimulus Plan" $$$$

 
  • 48% (94)
    I will pay off some bills. Credit Card, Medical debt, Car Debt
  • 4% (8)
    I will go on vacation! Cruise, Camping, Disneyland passes
  • 7% (15)
    It will go toward monthly expenses, ie food, heat, water
  • 30% (59)
    It will go into savings
  • 0% (1)
    It will go to clothes, date night, personal treats ie massage
  • 9% (18)
    I will spend it on something I want, but could not afford before ie Big Screen TV, Camcorder
195 Total Votes  
post #41 of 87
Well we will need to do some travelling this summer to PA and las vegas (sister in law's graduation, friend's child's birth) so I voted vacation.

We have debt and the personally responsible thing would be pay that, but, well, it's supposed to help the economy so spending it would help the most.
post #42 of 87
I'm putting it in savings.

We've no debt, and stay well within budget each month. I mean, we'll pull money back out of savings if there's an emerg. car repair or something, but, it's going in savings for the time being.
post #43 of 87
I really don't think it has anything to do with "liability" (If it does then show me where please)

This is what I understand. If you are married and fileling taxes jointly and make below $175,000 you will get $1,200 PLUS $300 for each child you have. If you made over $175,000 then the $1,200 portion will go down (but it doesn't state how much) but you will still get the 300 per kid.

So my dp and I have three kids and we made below 175,000. So we will get $2,100.

We are thinking getting the kids an IPod. They have been begging for one and we could never afford one. We also need a new washing machine. I also have been trying to save for a swingset.
post #44 of 87
I have no idea how much we're getting back, so I can't really make any plans. I've heard all sorts of numbers from various tv and newspaper pundits, but have googled and can't find an estimator or calculator or anything
post #45 of 87
Quote:
Originally Posted by candipooh View Post
I really don't think it has anything to do with "liability" (If it does then show me where please)

This is what I understand. If you are married and fileling taxes jointly and make below $175,000 you will get $1,200 PLUS $300 for each child you have. If you made over $175,000 then the $1,200 portion will go down (but it doesn't state how much) but you will still get the 300 per kid.

So my dp and I have three kids and we made below 175,000. So we will get $2,100.

We are thinking getting the kids an IPod. They have been begging for one and we could never afford one. We also need a new washing machine. I also have been trying to save for a swingset.

So dh and I would get $1,500 since it is based on last-year's taxes and ex-h's claim year was last year. Does anyone know how much a single parent with 2 dc would be getting?
post #46 of 87
I think $1200.
$600 for the parent and $300 ea. child.
post #47 of 87
the way I understand it is, if you PAID taxes (hence the liability) you get $600 single, $1200 married filing joint. If you had income of at least $3000 but didn't pay anything in taxes (zero liability) that amount is reduced to $300 single, $600 married filing joint. The amount for qualifying children is still $300 each.

The last time they did this, people who didn't pay anything in taxes didn't get a rebate. I remember that well...it still stings.
post #48 of 87
Quote:
Originally Posted by mesa View Post
when you file your '07 return, will you get back every penny you paid in federal taxes (due to low income, like us) or will you owe extra? Look on line 27 of form 1040...it will tell you your "taxable income" which for us, was 0.
Neither. We'll get a little back, but we do pay federal taxes.
post #49 of 87
Quote:
Originally Posted by mesa View Post
The last time they did this, people who didn't pay anything in taxes didn't get a rebate. I remember that well...it still stings.
Well, the amount we have to pay in federal taxes is pretty painful, in and of itself.
post #50 of 87
Quote:
Originally Posted by candipooh View Post
This is what I understand. If you are married and fileling taxes jointly and make below $175,000 you will get $1,200 PLUS $300 for each child you have. If you made over $175,000 then the $1,200 portion will go down (but it doesn't state how much) but you will still get the 300 per kid.
So, I guess this means my family of 3 will get $1500
post #51 of 87
I really want a new TV. A big, shiny, HD flat screen TV.

And I don't even have cable.

I just want one.

Real bad-like.

What I will actually do is put it towards a car or car seats....but I want that TV.
post #52 of 87
None of the above - ours will be invested... which with the current state of the market *may* or *may not* be the same as saving.
post #53 of 87
I didn't vote as I want to put "other" we are using it to replace a very old and cronky car that Dh uses for work visualize held together with duct tape and bailing wire, and taking too many trips to the junk yard for parts, we estimate $1800 that is enough for him to get another car (he's a mechanic)
post #54 of 87
Quote:
Originally Posted by mesa View Post
the way I understand it is, if you PAID taxes (hence the liability) you get $600 single, $1200 married filing joint. If you had income of at least $3000 but didn't pay anything in taxes (zero liability) that amount is reduced to $300 single, $600 married filing joint. The amount for qualifying children is still $300 each.

The last time they did this, people who didn't pay anything in taxes didn't get a rebate. I remember that well...it still stings.
Thank you mesa. I was just going to say that we heard that from a tax guy today. He was saying to be aware of the wording "tax payer" not "tax refunder". SO now I am trying to research and find out which is true. It stings if it's true because I believe most Americans (under $75,000k) are of the mind that they are receiving this Stimulus package.
post #55 of 87
Baby Hawk
New digital camera
Perhaps a bike
New carseat for DS1


Not sure yet!
post #56 of 87
I used the big ticket item as "other"! I will be blowing our whole wad on a milk cow. We were going to get a heifer anyway- but I will be writing my congessman and senators that I spent our money going futher out of the system. Less trips to the grocery and less $ spent on gas. Seems appropriate.
post #57 of 87
we'll be moving this summer, so if we get it before then, it will help with that, and also some fun too if it comes after the move, it will either go to savings, stuff we need for the house, or paying off the move if we ended up using the credit cards.... and something fun too
post #58 of 87
We'll use it for some clothes, birth stuff, mabye a Beco Butterfly or some cloth diapers/EC stuff.
post #59 of 87
That money is not free money. It is a front on your 2008 return. Just like the "rebates" in 2003 you had to pay it all back the next tax year.
post #60 of 87
Thread Starter 
Quote:
Originally Posted by aniT View Post
That money is not free money. It is a front on your 2008 return. Just like the "rebates" in 2003 you had to pay it all back the next tax year.
Isn't that the truth. We give you money only to tax you on it the next year!! Don't ya love the government of Shrub?!?!?!?

I had wanted to put an other, but ran out of options. Sorry!
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