So sometime in the summer I think people are going to be receiving their rebate checks as a part of the "stimulus package", and the average is going to be around $1000.

What will you do with the money?

really? i didn't hear about it

put it into my savings account or use it to pay bills like i always do.

http://biz.yahoo.com/ap/080124/economy_stimulus.html

Chaimsmom already started a thread.

I plan to buy liquor and cigarettes. Also, I will waste, oops I mean use to stimulate the economy, my money on VCRs, TV's, cell phones, and ipods.

Do you have to pay taxes to get this?

didn't they stop selling those?

Read the frigging article.

thanks, Moshi.
the checks will be based on 2007 return and not 2006, right?

what?
they said the first payments could begin going out in May, which made me think about it. unless only those who'll file in january-february (early enough) will start receiving the checks as early as May?

It's not clear from anything I read, but I think it will be based on 2006.

It's a gift ? seriously?

they already did this after 9/11. i think i got 600 then.

right, right, i takeh remember that.

I voted other - I will not be receiving a rebate.

I will use it to pay my taxes.

why would they do it this way as opposed to going according to the most recent return?

I would love to find out that I'm getting this. I could use the money so badly right now. If I get it (too lazy to read the whole article so I don't know. I do pay taxes...any other criteria?) it will cover my root canal.

According to a guy on NPR or CSPAN last night, medical expenses trail only "Clothing" as the item people spent their 2001 rebate check on.

Interesting!

Offtopic: Are medical/dental expenses tax deductible?

as far as i know, it depends if you itemize your deductions or not. (basically, they could be, but only if these expnses are bigger than the standard deductions (around $3,000 for a single person?)

I think my accountant told me $5000.

Medical expenses must exceed 7.5% of your adjusted gross income to figure into your itemized deductions on Schedule A. For example, if you make $50K then your medical expenses would need to be in excess of $3,750, and only the excess would be deductible. Also, it is not a direct credit so the amount you deduct is taken from adjusted gross income, not your tax bill.

This is my personal understanding of the process.

Does dental count?

I believe so.

Yes.

Yes, 2007 is correct. So, I guess the faster you file now the faster you'll get your bonus.

The usual: Hookers and Booze...

The Senate doesn't want to pass the bill as it is now:
http://news.yahoo.com/s/bloomberg/20080125...Expg.4NCQGs0NUE

It's sort of scary when K-Rebbe and I start thinking alike. Do they have hookers with South African accents?

I don't understand how we can afford this tax rebate, when we are running record deficits due to Bush's personal and private war in Iraq.