Correction: "Workers making at least $3000 but not paying federal income taxes: "$300"

Well, this'll help pay down that last credit card. I just wished they would have done a flat $300 dollars back to every citizen regardless of income, then give those in the middle (that pay taxes but don't earn more than the limits) more of a return. Otherwise, this still smacks of income redistribution.

Woo Hoo! $1800 coming my way!

Spending it? Mostly not. Going to go into the bank.

ummm, was my comment deleted? where did it go?

I like how they slipped in the FM max mortgage values almost doubling. Thats where they expect the real stimulus to come from- people buying foreclosed and devalued houses with FM mortgages.

anyways, when do we get the checks? gimme gimme gimme!

The real question is, how did they fold their dollar like that??

@Starfury: Ditto. People don't realize that even putting it in the bank helps the economy. Good for you.

@Tux the Penguin: Whats new? Government loves to play Robin hood.

How and in what way did $87,000 become rich? How else am I to afford a Wii at my income?

@m4ximusprim3: Thats a bit more then I wanted to see, and I actually had hoped that they would boost FHA limits too, but the Fannie/Freddie deal is great long term. Those are the wonderful 20% down loans that are a thing of the past (especially since the 2nd mortgage 20%s are really tightening up their requirements).

Im not particularly thrilled with the way the rest worked out (redistribution of wealth anyone) but all in all I think it will stabalize the market, which has had its 10% correction.

What I dont get is why breeders get more money. They're already getting money off taxes for spawning.

What happened to the 800 and 1600 that Bush was proposing?

@Geekybiker:
And why do the blind get an extra exemption? Better lobbyists than the deaf or paralyzed?

Wait when they say capital do they mean equipment, I own a side business I am sole owner and don't have any employees, so I can write off more next tax time for equipment I purchase. That is going to be great I have a few big items I need to get, this rebate I will be receiving will be spent on my business as well. I am pretty happy here. Not only will I have $ to buy the rest of the equipment I need but I will be helping the economy by doing so as well as making money as a result of the equipment I buy.

Ok everyone, here is the plan. If everyone in America pools our money together we can throw one HELL of a party.. We invite everybody in the world (except Cananda) and we all just get along and have a beer. Who's with me??

Or we buy guns and march on the capitol...

@Geekybiker: Breeders get more money because they have extra humans to feed. Still sucks to be them.

@Geekybiker: They like us because we make more people to tax later on.

At what point do your kids need to have been born? I just had twins two weeks ago. If I miss out on another tax break cause they didn't pop out by last December I'll be greatly annoyed.

I do love my kids though. They're freakin cute!

I'm using mine to buy a Wii! But the rest goes to credit card bills.

Wow this is so bad....Americans just don't get it! =(

I'm thinking of converting my rebate to foreign currency and investing in... oh let's say the Netherlands.

@Zgeg:
Can we do both...get Beers and Guns?

I don't know if it's really good for the economy or not, but I'm just glad to be getting some extra money.

I'll be paying it directly onto a cc bill, though. That should still help the economy in some manner, right?

it didn't pass. the two sides agreed to it. very different.

@pegr: Well, they tell the blind they're getting $600 dollars, but it's really just 6 singles.

@ethanrik - I think most people are being sarcastic. But anyways, I think it's a good thing overall. Will it help everyone? No. But really it's just the government giving us back some of our money that we paid them. So it's not a bad thing at all.

@Blackcloud75: they ended up including millions of additional people, so they had to cut the amount per person

I think it would be funny if everyone went to cash it and stuffed it under their bed, depression era style! a nice big F-U to the gov't.

Is there a difference between "working couple" and "married couple"?

I thought this was a tax rebate??? Why would people who pay nothing in taxes still get a tax rebate? I can't go into a store and expect to cash in on a rebate without making the required purchase!!!

@shadow735: capital expenditures is anything you depreciate (so your fixed assets on your balance sheet)

Working couple would be both members of the couple who work?

Darn, none of it helps me.

@xQuizx: A winning combination!

how does a rebate check sent out in May constitute an emergency jumpstart to the economy. Are people planning on spending 600 bucks on credit because they know they will get 600 bucks in 5 months?

This isn't stimulus, this is welfare. Its Marxist wealth redistribution disguised as a "tax break for working families. I'm so tired of the populist mentality of so called conservatives. My $1800 check will be absolutely worthless with the collapse of the dollar. For real economic solutions try this plan. [www.ronpaul2008.com]

@sleze69: While I can't say with certainty, I'd guess a working couple in this case is any couple that files taxes together.

@HRHKingFriday: I've been thinking about it...is it a good idea to have cash on hand? My wife and I have a nice bit of savings...and I always wonder if I should cash some of it and just have it in a safe or something. The rational/college educated side of me says I'm being stupid for thinking that...but everything else tells me I should.

@wfpearson: Don't worry, they're not actually taking it from taxes we've paid, they'll just print more money!

Oh wait... I guess that doesn't help either.

To quote David Cross:

"Everyone is gonna get a check for 400 dollahs?"

"Alright, I'ma buy me a hammock!!!"

@diesel1: even if people are using it for debt, that's 600 bucks in payments to banks and credit card companies that would otherwise not payments that high. Or at least maybe slow down delinquencies. Which makes gives them more capital to lend back to the same consumer, thereby increasing the debt load.

Not that any of that happened back in 2001....

What are the cut-off dates for these income caps. My wife and I made about 140K in 2006 but made 190K in 2007. Since we haven't filed taxes yet for 2007 then the last figure the government has for us is our 2006 return.

Maybe we should file an extension until they hand out the checks just to play it safe.

Bread and Circuses are getting more expensive.

Anyone know yet if it will be based on tax year 2006 or 2007???

@Geekybiker: Agreed. I'm tired of people getting breaks for having kids. Shouldn't I get extra for not creating the little bastards? I'm helping to control the population and put less stress on our dwindling resources and the environment.

Kids are a burden that my taxes pay for, and we're rewarding people for having more of them? Ridiculous.

@alexander: Yeah, but I tend to listen to my depression-era grandparents financial advice, ie, always clip coupons, always keep a good amount of cash on hand in case the banks freeze. I used to think it was kind of nuts, especially in this age of putting everything through on debit, but lets say there is a meltdown. One of the first things they'll do is freeze banks so everyone can't run their money out of banks.

@wfpearson: Hey, spend you $1200 on Euros or gold and spread your Paultard garbage elsewhere.

Since we are already indebted to China, etc in the trillions, isn't this just like a big huge cash advance? It don't really think it is the govt giving us back our money. I think it is the Bushies just trying to buy our friendship (aka approval ratings).

@GitEmSteveDave: I'm not saying it will all go in the bank; we're doing a kitchen remodel so the less I borrow to do it the better off I am. Since I'm not selling my house I'm doing it right...not a quick "make it pretty" job.