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Old 01-28-2008, 09:41 AM   #1
vaknitter
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Government Checks !
Have you all been following the proposal that is set to go before the senate that would mean all tax paying adults would get recession checks from the governement? Unless I'm reading the reports wrong the hubby and I will get a check for $1200 in June. Of course, it is the government so who knows how much we'll pay in taxes for that ..... even if we only end up with $10 that's still yarn money : )
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Old 01-28-2008, 10:29 AM   #2
cdjack
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You can get up to 1200 dollars. Now, that is fine if they want to send me a check for a few hundred dollars in July, but I don't know how that is supposed to fix the economy.
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Old 01-28-2008, 10:55 AM   #3
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I'm worried it's going to be handled like the last one a few years ago, where we'll have to pay it back when we do our taxes next year!
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Old 01-28-2008, 11:11 AM   #4
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Yeah, I believe it's $600 for an individual and $1200 for a couple and from what I last read, an additional $300 per child.

It just kills me, they plan on sending out these checks thinking we're all going to go buy new cars or tv's, or some other indulgent thing/s, but, everyone I know plans on trying to pay down bills! That whopping $1200+ ain't even gonna make a dent in my debt! Ugh, don't even get me started...lol
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Old 01-28-2008, 11:44 AM   #5
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Here in Canada we get 100$ per month per child indefinitely. It is taxed as income, but as a stay at home mom of two, we call it my paycheck. We also get approx 74$ per child tax free so life is good here.
Maternity/Paternity benefits here are for 1 year.

I think the gov. wants us all to multiply!
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Old 01-28-2008, 11:58 AM   #6
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The idea is that if they send you the money you will go out and spend it which will infuse some more money into the economy. The problem IS that if you look at the polls most people plan to spend it on their bills or save it.
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Old 01-28-2008, 12:05 PM   #7
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Originally Posted by brendajos View Post
The idea is that if they send you the money you will go out and spend it which will infuse some more money into the economy. The problem IS that if you look at the polls most people plan to spend it on their bills or save it.
Those one-time fix it payments never work.
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Old 01-28-2008, 12:30 PM   #8
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Well, to be fair, there are other things included in the plan beyond just the checks, but in general I don't really think the checks will work. The plan may work, hard to say, but none of it is a magic pill.
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Old 01-28-2008, 12:38 PM   #9
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Too little, too late is the general concensus among economists. I think they are just trying to prop up the economy until november.
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Old 01-28-2008, 12:53 PM   #10
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As a US citizen living in Canada, I wonder if I'll get it as well. I still have to pay US taxes on anything I make here...so....

Guess I should ask my tax person.
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