$800 for individuals and $1600 for individuals

It's not gonna work for long. Gummint gonna hafe to take money out of the economy by borrowing it to pay for that.

I'll choose the $1600 as an individual

Ironically, I will be using the money to pay taxes.

What about those of us who aren't individuals?

Yay! Free money.

I will be one of the people using it to pay off debt/put into savings.

Is this a true "gift" or is this simply an advance on your upcoming tax returns?

@weazel: me, too

@rickshawed: I don't think it is an advance, considering it will be sent to those who tend to owe taxes each year.

This would truly work if the government stopped spending money on pork to give the money back.

Yay! $800 for everyone to spend on crap that will end up being funneled to China!

Shucks, I didn't get a rebate last time. Why would I expect to get one this time?

If, on the off chance, I do get a rebate, I'll be one of those poor devils who stores it away for a rainy day. I do plenty for the economy, but I don't need $800 worth of more junk.

I never feel like stuff like this works (and I could be totally wrong) but today I still want the money.

Mmmm money.

All kidding aside about the Costco coupons, a smart merchant will offer x% off your purchase or some freebies if you cash your check there...

Wait if I use my tax refund to go on a trip to Hong Kong am I being unpatriotic or am I helping to balance the trade deficit?

@davelawrence8: Not everybody got rebates last time. Only people who actually pay income taxes did (that may or may not be why you didn't and it's none of my business anyway).

But that sure pi$$ed the liberal democrats off last time because the poor people weren't getting rebates because they don't actually pay taxes to begin with.

@James D: Just use an American airline to fly to Hong Kong. You can still be patriotic!

Does anybody know what the cutoff is going to be for who gets this money (if/when it happens)? On the news they said people who make too much won't be eligible.

And sadly, on paper we make a lot of money. In reality, this would be the biggest help I can imagine right now.

Thank goodness this is an honest attempt to spur the economy and not a sleazy way of buying goodwill for Republicans for the upcoming election year! We can fill the hole it leaves in funding with money borrowed from our kids, right? Just like usual?

Well, since the idea is to put money into the hands of the people who'll spend it, I'm sure the Bush Administration would agree to exempt the wealthy from this rebate as they already save at a higher rate. I mean, if that's the idea.

Truth be told, if I was given $800 today, I WOULD spend it. I'm already saving and running no credit card debt. Only debt is in student loans, which have a pretty good rate. XBox 360 and Rock Band here I come!

Oh, right, this is just a proposal and there is still that business of a Congress who might not be keen on Bush buying people's love yet again.

Let's just bury that lie that poor folks don't pay taxes. Get a clue folks!

When would this proposed rebate actually be dispursed?

@ad8bc: Well, I believe those liberal Democrats weren't happy because those poor people who "don't pay taxes" actually DO pay taxes even if they don't pay income taxes.

If they get some work, they have payroll taxes. Oh, and sales taxes that disproportionately impact the poor. Not to mention local income and property taxes. (even renters pay property taxes; they just pay them to their landlord who pays them to the city/state) Very few people in this country actually pay NO money on taxes.

@ad8bc: It pi$$ed the liberal democrat$ off because Bush e$$entially bribed the country by telling them if he wa$ elected, everyone get$ 300 buck$! And he $till lo$t the popular vote.

"Federal Reserve Chairman Ben Bernanke entered the stimulus debate Thursday, endorsing the idea of putting money into the hands of those who would spend it quickly and boost the flagging economy."

That's exactly what we need, because idiots with their homes in foreclosure buying new LCD's will stimulate the economy!

I don't know if I should spend this on 800 $1 hookerbots or 1 $800 hookerbot.

@Freedomboy:

I know a lady where I work...she makes about $10 an hour. Each year, her tax refund is in the range of $5k, due to the fact she has kids. I make almost double that, and if I am lucky, I get 1/10 of what she gets back. Not sure, but I think instead of paying taxes, she is actually getting my taxes forwarded to her.

WOO HOOOOOO!!11!!!

I'm going to Amsterdam for some weed.

Thanks W!!11!!1!!

PS you still suck.

I'm going to buy a bunch of stuff from China...that'll help our consumer based economy.

Whooo hooo! Bring on the hookers 'n blow!!!

What am I missing from this article? Are these "random" bonuses, or do we have to apply for them somewhere?

I need a new iphone, since my old one is so old, and some dubs sound good about right now... oh hell, and some prime rib cause u never know when u gonna die...

hooray!... I got married and will use the money to pay some debt and then fix my damn ford... POS

Once I met a woman in a bar who asked if I had a bush stimulus plan for her...

@Saboth: Thats because she is not claiming enough on there taxes and using the government as a 0 interest savings account. She prob. doesnt relize it, but she is giving the government a free loan.

@MEIRAN:
"The rebates would likely be limited to individuals with incomes of $85,000 or less and couples with incomes of $110,000 or less, the aides said, speaking on condition of anonymity because no final decisions had been made."

@Saboth:

This woman needs to file a new W-4 with her employer so they don't withold so much tax. Unless she likes getting a big tax refund while loaning money to the government interest-free.

This is just a feel good measure. How about offering a tax credit for payments on student loans. That would help a whole lot more, IMO.

I would be using it to get more equipment for my business.

I would prefer that the government give me a case of beer and a blowjob. I don't know what it would do for the economy, but it sure as hell would boost my confidence as a consumer.

Oh Goody! Will we get candy and a horse too?

@weakdome:

The last time they did this the checks just showed up at the address the IRS had on file.

@ad8bc:

How much
Right now, President Bush is said to want an income tax rebate that would be generated by eliminating the 10 percent tax bracket, which applies to roughly the first $8,000 of income for single filers and the first $16,000 of income for married couples filing jointly.

That would mean taxpayers could get rebates of up to $800 if single, or $1,600 if married.

But neither President Bush in his statement nor Treasury Secretary Henry Paulson in a briefing afterwards would confirm that amount. "I don't want to play bigger than a bread box," Paulson told reporters. "The president is focused on broad-baseed tax relief for those paying taxes."

Who would get it
Democrats could get on board with an income tax rebate if it's fully refundable, meaning that everyone with earned income would get the full rebate, even if they didn't make enough money to owe income tax, said Furman.

Otherwise, roughly 40 percent of tax filers (which is more than 50 million households) would get only a partial rebate or no rebate at all, according to the liberal Center on Budget and Policy Priorities.

A significant portion of that 40 percent would be families of four making between $25,000 and $40,000, the CBPP said.

There are a few ways that could be prevented, Furman said.

One way is to offer tax credits, a dollar-for-dollar reduction of your tax bill. If it's refundable, it means you get the credit even if your tax bill is $0 or something less than the full credit.

Another way is to have the rebate be a payroll tax rebate. The payroll tax - 6.2 percent of your wages - is what's taken out of everyone's paycheck to fund Social Security, no matter how low your annual income.

A payroll tax rebate would not affect your Social Security benefits or the long-term solvency of the entitlement program, Furman said, because it would really serve as a tax credit. In other words, money from your paycheck would still be taken out and put towards Social Security, but the federal government would send you a check that would serve as an advance on a refundable tax credit on your tax return.

@Shadowman615: Congrats on being the first one to comment on that unfortunate term. I'm glad I'm not the only one with a sufficiently filthy mind to see that :)

Step 1: Print more money
Step 2: Price of consumer goods rises through inflation
Step 3: After spending through their 'gift' people realize they are paying an extra $1 per gallon of milk from that point on, and an extra 50 cent per gallon of gas.
Step 4: Profit?

When will the government realize that they need to cut spending by the amount they cut taxes in order to have a desired effect?

(Ron Paul 2008)

If my wife and I get a $1600 check from the govt it'll go in the bank. We've taken a look at the amount of 'stuff' we buy/have and decided we don't need as much.

Or I'll drop the whole thing on a new TV....

@Daniel-Bham: Step 1: True
Step 2: True
Step 3: True
Step 4: True?

Good question.

(Wrong Answer 2008)

I gave my 2001-2002 tax rebate to my local feed the poor charity (they had lost one of their federal grants post).

One wonders where the Feds take from in order to give out these rebates. Do they take from the defense budget or do they take from head start or feed the poor projects?

REBATE MONEY SHOPPING LIST

porn
cheeseburgers and fries
beer
more porn
hdtv to watch porn
viagra
pizza
more beer
antacids

Yup, this will be the best $800 bucks GWB ever spent.

When does the payout happen? What time of year?

@missjulied: That sucks. Not bragging mind you but I want some free cash just like the rest of you fuckers.

Still not following. Does this rebate apply to only those people who would end up having to OWE tax? I purposefully withold extra (yes, giving the gov't a loan, I don't care.) so that I get a big fat post-Xmas refund check. I'm assuming they aren't going to reward me with an extra $800 on top of that just for being super nice to them?