While they're printing up more paper money...
As you probably know, the IRS is going to be sending out "stimulus payments," starting in May, to most taxpayers. I love that term, "stimulus payments." So Spitzer-esque.
For most folks the check will be a few hundred bucks, which Exxon will gobble up before the Fourth of July. By then, $300 American will probably buy a loaf of bread and a Safeway rotisserie chicken.
Anyway, if you want to see how much you will be getting, the IRS just posted a handy-dandy calculator. Head on over and knock yourself out. You'll need to have your 2007 tax return done before you go, though.
Upper middle-class and rich readers, don't get your hopes up.
| Posted at 9:26 AM | Permalink |
|
Comments (6)
The federal government is sending each and every one of us a $600 rebate.
If we spend that money at Wal-Mart, the money will go to China.
If we spend it on gasoline it will go to the Arabs.
If we purchase a computer it will go to India,
If we purchase fruit and vegetables it will go to Mexico, Honduras, and Guatemala,
If we purchase a good car it will go to Japan.
If we purchase useless crap it will go to Taiwan and none of it will help the American economy.
The only way to keep that money here at home is to buy prostitutes and beer, since these are the only products still produced in the US.
Thank you for your help.
Posted by meg | March 18, 2008 11:37 AM
Thank you meg, your economic analysis has uncovered the true American situation.
Someday, we'll be able to do better.
If the recession causes us to re-evaluate our priorities after the "stimulus payments" are spent, that day may not be far away.
Posted by David Smoot | March 18, 2008 11:57 AM
I'm pretty excited. I haven't decided whether to buy a sack of groceries at Whole Foods or p*ss it away at the track!
Posted by Dave | March 18, 2008 12:27 PM
Having just paid Uncle Sam, I'm happy to get some of it back. I think I might use it to take a class on building web pages. The beauty of using it for education is you get a credit for such expenditure against this year's federal income taxes. You also can deduct such expenditure against this year's state income taxes. Certain restrictions on this scheme do apply.
Posted by Bob Clark | March 18, 2008 1:02 PM
I'm pretty sure a lot of American jobs rely upon Wal-Mart and purchases of gasoline, computers, fruit and vegetables, cars and other crap regardless of where it comes from.
And there is an upside to changes occuring.
Toyota is building plants here and employing thousands while the UAW is making sure the big three close plants.
One thing is scary.
Imagine how bad of timing another terrorism attack here would be be?
Posted by Howard | March 18, 2008 2:27 PM
Not to mention the two taxpayers in our household received a nifty Love note from the IRS "Notice 1337" presorted first class mail. One of those folded notes where you rip off three sides and it unfolds to give you what is promoted in red on the front as "Enclosed is an important message from the IRS on the Economic Stimulus Act of 2008. DO NOT THROW AWAY!" Addressed inside as Dear Taxpayer. and titled in RED Economic Stimulus Payment notice telling me all about how George and the congress passes the act and are paying 130 million Americans up to $600.
Posted by swimmer | March 18, 2008 9:28 PM