IRS Stimulus

[Effluo]

Got my stimulus check direct deposited today, but while I'm happy to have gotten some of MY money back, I'm also pissed off my Ex-Wife got some of MY money back...

I was a bit behind on child support (got laid off, and wasn't able to pay for about a month). I made arrangements to get it caught up, paying a little extra each week. I had no problem with Uncle Sam taking half my Tax Return to go towards the arrears, but what I do have a problem with is Uncle Sam taking my $600 to give to the worthless unemployed ex-wife of mine, when I've been paying extra to get it taken care of, on top of half my Tax Return.

Luckily, Texas is a community property state, and my current wife was able to file an Injured Spouse form, and we atleast get half of the Tax stuff... In the end, I know it's for a good cause; taking care of my son. However, it still pisses me off they took my $600... Guess the wife is buying me that Xbox instead of me buying it for myself, lmao...

FXUK you Uncle Sam!

[Feedmenow]

Question: how is throwing around money like this going to rebalance the economy?

[Tyche]

During recessionary periods, a few things can be done. Lower taxes, transfer payments, and increased government spending. Let's say they want to stimulate the economy for a million dollars by sending out $10 to 100,000 people (small scale for simplicity). Well, those 100,000 people will spend that $10, and the people/company that provided a good or service and earned that consumers $10 will spend it. It will snowball exponentially, generating a much much larger stimulus than the initial 1 million invested.

[Churchill]

That's a completely retarded form of economics and the exact reason we are headed for a depression. When you create fake fucking bubbles, you get a fake economy. Where does that 1 million stimulus come from? It comes from printing more money, causing more inflation, continuing the current cycle of inflation taxation.

[Tyche]

Yeah, they simply printed more money, that's it. The fed doesn't have anything resembling a structured monetary policy.

[kuronosan]

It's just a way for the Bush administration to get people to love them... it really doesn't do anything for the economy because the problem is credit and excess spending... people are afraid to spend because they have bills to pay and the cost of living is increasing. No pay increase and increased spending means there is less money to be spent on "economic necessities".

Really, all this will do is make people spend money on their bills and then continue to hoard money. People who live with parents or who have no real credit bills to pay are going to be the ones who use this money to stimulate the economy. Since they're the minority, all this will do is decrease spending even more. Not only that, the stupid people who DO have enormous bills and still choose to go out and spend the money are just delaying the problem, not fixing it.

This is no different than patching up a pair of jeans and going "Look! No more hole!" instead of taking the jeans back to the factory and just fixing the fucking hole. Meanwhile, the hole gets bigger underneath until you wonder why the fuck they fell apart at the seams.

[Headspace]

I'm pretty upset that college students who live at home (labeled as dependents) don't get a stimulus return, and their parents don't get the $300 for them because they're over 17.

Kind of counter productive, with rising gas prices and increased tuition (my state went up 10% or so I believe).

[kuronosan]

If you're over a certain age (25) you're labeled independent and still get a refund. I'm getting one myself, but they haven't sent it to me yet (which is bullshit). Apparently I qualify for EIC so extra paperwork needs to be done.

And I agree, right now, full-time college students are suffering the most.

[Intense]

If you're over a certain age (25) you're labeled independent and still get a refund. I'm getting one myself, but they haven't sent it to me yet (which is bullshit). Apparently I qualify for EIC so extra paperwork needs to be done.

And I agree, right now, full-time college students are suffering the most.

Is this the same countrywide? I could have sworn it was 23.

[Skyylya]

so is this getting based off of age and whether or not you declared as an independant or something?

I thought it was just if you filed for taxes last year and/or this year and made over like 3k or something

[Doombear]

Not too sure how up to date this is, but here is where i got a lot of my info from:

Tax Rebate FAQ

[Headspace]

so is this getting based off of age and whether or not you declared as an independant or something?

I thought it was just if you filed for taxes last year and/or this year and made over like 3k or something

If you are or can be claimed as a dependent, you don't get anything.

If someone claims a child (or dependent) they can't be older than 17.

So if you're a 19 year old college student who lives at home, you and your parent(s) don't get shit.

[Skyylya]

so is this getting based off of age and whether or not you declared as an independant or something?

I thought it was just if you filed for taxes last year and/or this year and made over like 3k or something

If you are or can be claimed as a dependent, you don't get anything.

If someone claims a child (or dependent) they can't be older than 17.

So if you're a 19 year old college student who lives at home, you and your parent(s) don't get shit.

and is that going off of people who filed this year, or last year. this year I am, and was an independant for the year of 2007.

In 2007 I filed as a dependant cause my mom claimed me one last time since in '06 i was still in school even though i supported myself in 2007.

fuck I hope it's going off of this year. I guess i'll find out next week since that's when i'd get it according to their schedule.

[Izzy]

so is this getting based off of age and whether or not you declared as an independant or something?

I thought it was just if you filed for taxes last year and/or this year and made over like 3k or something

If you are or can be claimed as a dependent, you don't get anything.

If someone claims a child (or dependent) they can't be older than 17.

So if you're a 19 year old college student who lives at home, you and your parent(s) don't get shit.

Applies to my mom and my brother. It was pretty retarded they both got nothing.

[Beckwin]

I can't remember if I was claimed as a dependent or not ; ;

[Yangsing]

Gots my moneys. Time to make it rain

[wintersquall]

when does the last group of SS#s get theirs again? nothing in my bank account that wasn't there before it was may 16, but i read that they moved them all up.

[kuronosan]

The last group of SSNs should get it starting monday.

[Khamsin]

The last group of SSNs should get it starting monday.

You mean the middle group?

[Ksandra]

so is this getting based off of age and whether or not you declared as an independant or something?

I thought it was just if you filed for taxes last year and/or this year and made over like 3k or something

If you are or can be claimed as a dependent, you don't get anything.

If someone claims a child (or dependent) they can't be older than 17.

So if you're a 19 year old college student who lives at home, you and your parent(s) don't get shit.

Applies to my mom and my brother. It was pretty retarded they both got nothing.

I dunno how you guys say you don't get anything. This is YOUR money, they're just giving it a year earlier. Come around tax time next year those 19 year old college students won't be getting a 600 cut to their '09 taxes unlike those that are getting the stimulus right now.

Only way you lose out is if you wouldn't make more than 600 in taxes for 08. I guess you can't owe money from the rebate. So basically, next year if you technically make 800 dollars on your tax refund, you will only recieve 200. If you made 400 dollars on your refund, you won't get anything but you won't owe anything either. which might have worked for those college students but then they probably don't make enough anyways to receive the rebate in the first place.



On a side note I got my refund deposited today I'm in the 00-20 group for SS. Wewt.