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Question by miams: What is this “giving money back” thing with president Bush?
He is going to give us income in our tax returns this year to better the economic climate???
Best answer:
Answer by A blank!
Yeah if you function you will get a tax rebate if not you acquire nothing at all it really is a excellent idea.
Add your own answer in the comments!
Comments are closed.
VK Jul 3 2012 - 10:57 pm
Its an election year so the Republicans want to show that they did “something” for the economy.
caldude1010101 Jul 3 2012 - 11:29 pm
Yes, hoping you will waste it on unncessary items like HD TVs or new cars.
Just keep in mind that it is a rebate toward your 2008 taxes. So if you owe Uncle Sam taxes at the end of 2008, add the amount of the rebate ($ 600-1,200) to what you already owe.
My money is going in a savings account to draw simple interest until my 2008 tax situation is resolved.
Sahara Jul 3 2012 - 11:42 pm
Doesn’t this sound a bit like communism? Redistributing wealth? This is a band aid at best. People need to be spending less and saving more. That’s what we need. Bush knows this but he’s not going to advocate it because then his investments won’t pay the returns he’s really looking for, him and his buddies.
Sjean Jul 3 2012 - 11:56 pm
Yes. He’s assuming you’ll spend it and that will stimulate the economy.
Ken Jul 4 2012 - 12:20 am
To Sahara: It’s not like Communism. That would be taxing people MORE. This is giving money back to people that was previously scheduled to be taken from them by the government. This is the OPPOSITE of Communism. Your ignorance isn’t completely your fault, though. If schools made economics more of a priority and things like foreign language less of one, we’d largely avoid common thought patterns like this one.
To the main question: Tax cuts (or rebates) leading to more money in the private sector (up to a point) helps the economy. It encourages people to work harder and increases the flow of commerce.
Cristal Jul 4 2012 - 12:31 am
yes.. that’s the plan.
they give the people money, with the idea that people will spend the money and give the economy a kick in the kiester…
what they never take into account is that many people will spend that money in places like Wal-Mart… so it goes to China… to give the Chinese economy a kick in the kiester… while ours watches the whole thing degectedly..
wonderful idea huh?
especially since the gov’t doesn’t have the money to give back to begin with… and last time they did this is significantly lowered everyones tax refund the next year…
Mrs. understood Jul 4 2012 - 12:40 am
yeah pretty much but I hear we have to pay it back
Michelle P Jul 4 2012 - 1:13 am
I heard he’s giving money back to help our economy by having us spend it and put it back out there.
It’s supposed to be like $ 1500 per married couple and $ 300 for each kid (up to 2-3 kids or something like that) I heard the checks would go out starting april-may.