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Vette Lover
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Joined: 05 Nov 2007
Posts: 125
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 Posted: Monday Jan 21, 2008 |
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Heard the Gov. is giving out a $1600 Rebate Check to boost the economy. Anyone else know anything about this?
Ron if this was in a thread go ahead and delete..... Vettes Suck!
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lonewolf
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Joined: 25 Sep 2003
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Location: Anywhere, Earth
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| Posted: Monday Jan 21, 2008 |
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You are probably referring to PA House Bill 1600 which is a bill that will raise the state sales tax to 6.5% and state income tax from 3.07% to 3.29% to pay for $1.5 billion in real estate tax reductions. This is a proposal by Rep. David Levdansky (D-Allegheny) that was approved by the House finance committee.
Please pass the vaseline.
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Vette Lover
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Team Transylvania
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Vette Lover
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Joined: 05 Nov 2007
Posts: 125
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| Posted: Monday Jan 21, 2008 |
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It's the government.... it's supposed to be confusing!
I don't know if this will stimulate the economy like it's supposed to but I am excited about receiving a check out of the blue.
It is supposed to be like the checks sent out after 9/11.
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Team Transylvania
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Feelgood
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Joined: 08 Mar 2005
Posts: 356
Location: Johnstown
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| Posted: Monday Jan 21, 2008 |
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How W and his administration are looking at this is that people will be given this extra money and put it back into the economy by spending it on more goods and services.
In reality though, I can't see this helping our economy much by any means. I would think the majority of the payments will either be put towards outstanding debts or bills or tossed away into a savings account somewhere.
It's a generous gesture, but I don't think they fully understand the magnitude of what they are trying to help and fix.
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DrumAndDestroy
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Joined: 05 Feb 2007
Posts: 2373
Location: Altoona
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| Posted: Monday Jan 21, 2008 |
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| Feelgood wrote: | | In reality though, I can't see this helping our economy much by any means. I would think the majority of the payments will either be put towards outstanding debts or bills or tossed away into a savings account somewhere. |
yes. most of the middle class is in debt up to their eyeballs anyway.
mine would go in the bank |
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lonewolf
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| Posted: Monday Jan 21, 2008 |
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| Feelgood wrote: | | In reality though, I can't see this helping our economy much by any means. I would think the majority of the payments will either be put towards outstanding debts or bills or tossed away into a savings account somewhere. |
I don't know what the administration has in mind, but paying off debts and bills and saving money puts money back into the economy where its needed most right now. In this case, banks end up with more cash and I can't think of a bigger problem with our economy than the cash crunch caused by the real estate bubble.
Aside from a few easings, the Federal Reserve has been trying to bridge the cash gap by making more cash available to the moneycenter banks, but its still too tight.
I am anxious to see how the stock market opens tomorrow morning. It doesn't look good.....
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JayBird
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Joined: 09 Dec 2002
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Location: Indiana County
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| Posted: Tuesday Jan 22, 2008 |
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I overheard this on the news today. It only applies to single family making at least $80,000 and married couples making $100,000 or more. Those numbers could be slightly off, but I knew from listening to the single family amount that I'll miss out.
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DrumAndDestroy
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Joined: 05 Feb 2007
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Location: Altoona
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| Posted: Tuesday Jan 22, 2008 |
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| JayBird wrote: | | Those numbers could be slightly off, but I knew from listening to the single family amount that I'll miss out. |
haha i'm in the same boat |
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f.sciarrillo
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| Posted: Tuesday Jan 22, 2008 |
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They give you 1600.00 this year as a break, but, next years income check will be 1600.00 short because of it ..
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UNEARTHA7XMatt
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Joined: 02 Dec 2005
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Location: Central PA
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| Posted: Tuesday Jan 22, 2008 |
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| JayBird wrote: | | I overheard this on the news today. It only applies to single family making at least $80,000 and married couples making $100,000 or more. Those numbers could be slightly off, but I knew from listening to the single family amount that I'll miss out. |
I just read online that its for families who make under 85 grand a year and married couples who make under 110 grand a year.
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JayBird
Senior Member
Joined: 09 Dec 2002
Posts: 761
Location: Indiana County
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| Posted: Tuesday Jan 22, 2008 |
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Haha...under, over...I said my numbers could be slightly off!!! That kinda changes things now. Count me in and to my "money market" it shall go! Oh wait...I'm self-employeed...I know there will be a catch somewhere for all of us people. In my company's ten years of business, I've only received a tax return refund once. However, since I have to pay a quarterly 1040ES and the PA-40es, my refund was transfered to paying on some of those amounts. Yeah...I don't get refunds!
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Barfight
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Joined: 03 Dec 2007
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| Posted: Tuesday Jan 22, 2008 |
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I hear there's rumors... on the internets...
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DrumAndDestroy
Diamond Member
Joined: 05 Feb 2007
Posts: 2373
Location: Altoona
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| Posted: Tuesday Jan 22, 2008 |
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| Barfight wrote: | | I hear there's rumors... on the internets... |
everything on the internet is true |
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WerewolfMovies
Active Member
Joined: 09 Dec 2007
Posts: 88
Location: Saxton
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| Posted: Tuesday Jan 22, 2008 |
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| I heard that they have the internet on computers now. WOOT! |
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Vette Lover
Gold Member
Joined: 05 Nov 2007
Posts: 125
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| Posted: Tuesday Jan 22, 2008 |
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| DrumAndDestroy wrote: | | Barfight wrote: | | I hear there's rumors... on the internets... |
everything on the internet is true |
Shhhhh! Damit! They are recording my thoughts!
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Give a man a fish and he will eat. But! Teach a man to fish and.... He'll sit in a boat and drink beer all day! |
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DrumAndDestroy
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Joined: 05 Feb 2007
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Location: Altoona
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| Posted: Tuesday Jan 22, 2008 |
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| ahh you too? |
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