If the stimulis package is ment to stimulate the economy i think that people should be encouraged to buy american. So don't buy a Sony play station 3, or a Nintendo wii, because those are not American companies, so the way i see it there are only two affordable things to get that are made in America, either an Xbox 360, or better yet, a fire arm!
sorry, just a little thought i had while driving some errends today and thinkin about that bonus money.
We're taking the money and going here for a weekend in May. http://greatwolflodge.com/Locations/...g/explore.aspx
Edit: We were going to take the trip any way, just earmarking this money to pay for it instead of pulling it out of an account.
We realized that all our "vacations" the past few years involved basically us just visiting family and we (our direct family) never did anything by ourselves. So we're getting away, just the 4 of us, for a couple days.
Whatever is left over, will go to pay bills.
Last edited by Todd; 04-16-2008 at 04:31 PM.
Well, along with some other money I've been saving FOREVER, I might try and finally convince my wife that the $14000 necissary to purchase an MP5 ClassIII is worth it. I might also end up needing all that money to pull something rather large and uncomfortable out of my 'you know what' after I bring up the subject again. Wifes have a funny way of meaning "no" the first time.
Either way, I'll probably spend it on a gun.
I'm buying carpet (the wife's idea) and accessories for my Buckmark plus a new wolff spring and rod for my S&W Sigma.
Fourteen thousand? Dollars? Damn, I thought I had expensive taste.
Originally Posted by zhurdan
I nearly keeled over when my wife agreed to "float" me extra $150 out of household funds I needed to buy FHF's XD (if his guy from work passes on it). I'd need to have a place to live arranged before I asked her for $14k to spend on a gun! You're a brave man!
This stimulus package is garbage...if our government would invest the same amount into building bridges, hospitals, schools, and other public works it would provide jobs for tens of thousands of people. Im a union electrician and were struggling to keep ourselves busy because our government has stopped spending on public work projects, I dont know about you but Id rather have a job and steady paycheck then a one time only government hand out...Now a days its too hard to buy american, buy a chevy truck and your money is paying workers in Mexico, buy a Toyota truck and your money may go to Japaneese pockets, but at least they are employing union autoworkers here in America...Its a lose/lose situation if you ask me, and unfortunatly most people dont see it like this and just want their hand out...and that is why this country is going straight to hell
Please remember all, that this money will be taxed next year. You are receiving this as income for 2008 with no withholdings. Remember to put 20% - 25% away (into a CD) to pay for this next year if you usually "Pay" at tax time. If you receive a refund back annually, be prepared to reduce next year's tax return by at least 25% of the amount of your Stimulus Payout !!!
"Giving" us the stimulus payment is a sort of fraud.
We paid it into government coffers as our income tax. Then, they doled it back out to us. But doing all that taking-in and doling-out costs money: paper, printing, clerical time, computer time, etc.
It would've been far, far better if the government had just given us a temporary tax deduction this year, and merely left the money in our hands in the first place. Certainly, it would've cost us taxpayers a whole lot less, so the temporary deduction could've been somewhat larger than the dole payout is going to be.
SigShooter, no offense is intended here, only a point of discussion as I would like to better understand your point.
I do not live in an area where there are unions, but I have family that does. Their repeated complaints are that everything costs more because of the demands for increases in pay made by Unions. (Again, looking for insight here, this is just what I've been told) They believe that jobs are rolling out of that area based on the fact that the end user can no longer afford to pay the rates that Unions dictate. That being said, Union rates for plumbers, carpenters, iron workers are almost double that where I live. Granted, so is the cost of living, but isn't that driven just as much by how much people make as it is the other way around?
I guess my question is, is it possible that the outflux of jobs in certain areas is related to higher wage demands moreso than outsourcing or is the outsourcing of jobs a result of the higher wage demands?
I live in an area where the want of steady work is non existant. I have a steady well paying job, but that wage will probably not increase over the next 5-10 years. The stability is more important that financial gain or increase. The stimulus package will help me and others in this area because we are, for the most part going to be spending it in this area. There is merit to ensuring that it is spent on US made goods, I heartily agree. I just worry that prices go up, because people demand to make more, and people demand more because prices are going up, a cycle of demonic preportions indeed. Thanks in advance.
Originally Posted by Steve M1911A1
not only that, once we get the money we have to pay tax on it again...what is that a tax tax???
Originally Posted by Dsig1
No, you wont be taxed on it as 2008 income. You've already been taxed on it in 2007. It's your/my/our money they are giving back to us. Just like you dont get taxed on your tax refund, you wont get taxed on this stimulus check either.
Oh and hello, this is my first post on this site even though I joined a couple of months ago. I really enjoy this site.
Welcome to the forum!
Originally Posted by Slick
And you're right. My wife's uncle, our accountant, has assured me that we will not be taxed on this next year.
FROM THE IRS WEBSITE
Q. 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.
Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?
A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.
I can't figure out how to spend this money in good concience.
We're (as a country) spending TRILLIONS of $$$ more than we take in from the tax payers (us). So in effect, we're borrowing money from the Chinese, the Saudis and whoever else is floating our national debt so our a$$ hole politicians can try and make us forget how much of a financial hole the've put us into.
While you're spending this nice little chunk of change, just remember that all you're doing is helping to put us as a country a little bit further in the red. Its a loan, plain and simple. A loan that we won't ever have to pay back. But our kids and their kids are going to have a heck of a time trying to function when they're trying to get ahead with our feel-good debt hanging around their necks like an anchor.
I have a feeling that my check is going into savings. I don't think the worst of our financial mess has hit yet, and cash in the bank is going to help me sleep a little better at night.
invest it in gold...better late then never
Slick and Todd,
Good catch on the non taxable alteration that was signed into law as the bill revision went through post 4/11. Prior to that (when I filed in early February) there was no provision to exclude this stimulus from being considered 2008 income and my accountant set aside appropriate funds to cover just in case. If you read the original document and subsequent revisions, you will understand what an awful group of lawmakers currently preside over this country. It is a disgrace. There is so little or no forethought to the consequences of their actions.
Look at the responses on this forum. Most of us understand this as the sham it really is.
Originally Posted by Dsig1
So are you saying that because I'm going to use the money for a trip that I was going to take, economic stimulus money or not, that I don't understand how bad the politicians in the country are or the ramifications of this money being dolled out to everyone???
Originally Posted by Dsig1
Please clarify your comments and their intent.
No way my friend. I am a capitalist and money is money. Spend it as you will. A trip will provide much needed influx to the travel and tourism industries and will perform the use of the stimulus as intended. BTW, I took the family to Great Wolf Lodge in PA last February and it was a blast.
Originally Posted by Todd
I do hope that everyone understands the terrible state of politics in this country. Most of our politicians have little, ethical business backgrounds and they have no idea how to run a business unit let alone manage billions of dollars that they will not stand accountable for in the future. The guiding principles of the Sarbanes-Oxley act regulate financial standards and provide oversight for all US public owned companies except for one; the US Govenment!!!
I fixed it for you...
Originally Posted by SigShooter127
"bing bang boom! hair out...hamburger time" - William Murderface
Well, I will be using mine to pay for a tank of gas come June when I go to Iowa for my sons wedding.
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