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How Will You Spend Your Tax Rebates?

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131
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Hello 600 scratch and win tickets!

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Bank.... that "6 months salary reserve" is not going to build itself.

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See - the vast majority said pay off debt and put in the bank (granted this is not scientific at all), exactly what the government didn't want.

A misguided attempt.

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And I at already stimulate the cigarette industry...

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@public enemy #1: I knew someone in one of my college courses who won 500 dollars with a scratch off, and ended up buying scratch off tickets, and hit something like 20 or 50,000.

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I paid A LOT yet I am not getting any rebate.

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@catcher - no, as one person put it when I said the same thing, putting money in the bank helps the banking system, so it all works out to help the economy.

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@catcherintheeye: Putting it the bank DOES help the economy. Banks have more to lend, which means they will lend to more people, which will help them start a business, which will give people jobs. Things really do trickle down.

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@catcherintheeye: I think the sample of Consumerist readers (people with an awareness of finance) isn't the best gauge.


Most people will buy iPhones and spinny tires, I'm sure.

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I'm investing in foreign markets.

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Please note: nothing has been voted on or passed into law yet. This is simply the proposal that will now be debated and probably passed.

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Where's the "I don't qualify" option?

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I'm getting spinny tires for my iPhone!

...or paying off a small bite of my debt, whichever comes first.

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@bloatboy: Hope it helps, Fry. I'm swimming with a whale.

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#7: not getting anything.

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@lovenoelg: 100 sets of trucknutz, here I come.

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One of the seven so far that checked "Food." Having a wedding is expensive, but I'm acceptingany "free" money from the government that I can get this year!


GWB & Co: Thanks for buying dinner for about 100 people.

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I'm glad to see that most people are voting to pay off debt, but I guarantee how this is going to go down...

1) Plan how the money will be divided to pay off debts.
2) Realize that you don't have to pay off so much debt, save some over for "entertainment" expenses.
3) Slow put more and more money into "entertainment"
4) Rebate is gone, debt still there.

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@B: I wouldn't do that just yet, this law may get passed Truck Nuts to be banned

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Oh Taco Bell, Taco Bell, product placement with Taco Bell; Enchirito, macho burrito. Time to stimulate the essence of everything American- drive thru fast food.

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I'm getting nothing because the government decided not to give me my own money back and to give it to someone who did not earn it.

If the government is able to give back so much money, then maybe they should not have taken it at all in the first place...

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I'm thinking I may contribute to the campaign of some politicians who aren't idiots. If I can find any.

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@rbb: I dunno man, that sounds like efficiency.

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Not really a tax rebate, is it?

If the cut off is 150k per couple then I'm not getting jack shit.

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Where's the option for "Nothing, I'm getting screwed"

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@GitEmSteveDave: I won $100 a long time ago on a scratch and win. It turned out to be a curse, as they got their $100 and then some when I kept buying them and won at most $2 or a free ticket.

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I'm putting mine into paying off a student loan my fiancee has. Paying off the debt is equally as beneficial for both of us because I have never been in debt and refuse to go any more in debt.

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I'm buying guitar hero 3, and the rest goes to el banco.


I like to think of it as "looking out for the economy and my future" or "diversifying my assets". It sounds so much better than "rationalizing my unnecessary spending by promising to engage in responsible saving as well".

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A lot of people are going to be like "WHooooo! Free money!!! I'm going to go party and buy me an XBox 360!" My mom said it would be better if people had debt, to not give them a check, but just put the amount toward the debt they had... instead of giving these people "free money" they can blow on stuff they can't afford.

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1%: Bitches
1%: Hoes
10%: Baby Mommas
70%: reefer
10%: forties
8%: spinnin rims

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@UpsetPanda: I hate to be cynical but I really cringed reading your comment. I hope that all works out for you, if not date me.

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i'm going to LAS VEGAS!!!!!! do it every year.

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@lovenoelg: As I said, this certainly isn't a scientific analysis.

@GitEmSteveDave: I was under the impression that this was meant to be a short-term solution. I'm not going to argue that things do work as you described, but over what period of time?

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@lovenoelg: I sort of cringed at UpsetPanda's comment too. Hope it all works out.

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@catcherintheeye: I am no economist, just a consumerist, so I can't even guess as to the time scale. But if you look at the results above, there will be a stimulus for some retail outlets, and the banks will be able to post more deposits, both of which will help the markets out. The people who make money off the markets will either save it in a bank, helping, or invest in more things, which infuses businesses with money to open more stores/hire more people, etc....

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What no "hookers and blow" option? I will be spreading the wealth around to some worthwhile subversive groups.

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We hope to be able to buy a house this year, so this will likely go into savings for a down payment.

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@HRHKingFriday: Nothing like a diversified investment portfolio. I would maybe cut back on the reefer and use the capital to short golf course futures- most of us upper class whities aren't gonna get squat.

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I've got to wait till June before I get this... it's going to be useless by then. They need to mail the checks out a lot faster than that.

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I'm putting mine towards the very last of my credit card debt! I am on a plan to pay it off in 1 year 8 months at the latest. It sounds arbitrary, but that's paying $250 a month until it's gone, plus adding unexpeted cash (like this!) to it when it comes. This will, effectively cut several months off my payback plan!

So, instead of it taking 20 months to pay off, it will now be gone in 15 or so, if not sooner! Huzzah for that!

I was *really* tempted to look at the amount of my anticipated rebate - $1200! - and see how very closely that matches what I want to spend on a new iMac! But, no. It's not meant to be! I'll buy it with cash saved the good old fashioned way. Sigh!

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@m4ximusprim3: Cut back on the reefer? Surely you jest.

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Save it for paying for day care for those months with 5 weeks.

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@peteynice: I know right. How can I vote if there isn't a choice for me??

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Straight to the bank account to start picking up interest.

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This is NOT law yet. A deal has been reached in the HOUSE, and HOUSE only...that's why you saw Speaker Pelosi & Rep. Boehner talking with Secretary Paulson. The Senate still has their say, and though leaders Reid and McConnell have expressed their desire to pass the House version, you still have 98 other Senators who would love to tack on earmarks/pork. If Reid & McConnell are able to jam this through the Senate with a minimum of extra junk, the President will sign it (almost assuredly), and depending on the distribution used (Paulson mentioned electronic methods, which would be hella faster than printing checks), you'll have your money a few weeks/months hence. I'd put over/under at June 1st for the first (e)checks to hit the streets.

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I am going to spend the money on a hooker. I will stimulate my personal self was well as assist the underground economy.

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I'm surprised at the number of people that will "pay off debt." I was under the delusion that most people here were money savvy...or at least they talk a good game.