House agrees on tentative refund plan

[db44]

Democrats sell out. Do they not understand the meaning of having a majority?

http://www.washingtonpost.com/wp-dyn/content/article/2008/01/24/AR2008012400532.html?referrer=email

House leaders and the administration reached tentative agreement today on a roughly $145 billion economic stimulus package that would quickly send payments to poor and middle class workers while offering businesses one-time incentives to invest in new equipment and write off tax losses.

The deal, reached after an arduous, late-night negotiation between House Speaker Nancy Pelosi (D-Calif.), House Minority Leader John A. Boehner (R-Ohio) and Treasury Secretary Henry M. Paulson Jr., was a work of difficult compromise. Democrats acceded to Republican demands, jettisoning plans to extend unemployment benefits and food stamps for now but concluding that they could revisit the issue if the economy continues to slide.

Republicans agreed to offer rebates as large as $1,000, even to working families that earn too little to pay income tax, an idea they had roundly rejected in past stimulus plans.

"When all the numbers are tallied, this will be the most progressive economic package we have seen in years," said a senior House Democrat.

Boehner authored provisions that would allow faster tax write-offs for corporate investment and immediate tax deductions for small-business investments in plants and equipment. Businesses also would be able to take tax deductions this year on operating losses from as long as five years ago.

Under the deal, nearly everyone earning a paycheck would receive at least $300 from the Internal Revenue Service. Most workers would receive rebates of $600 each, or $1,200 per couple. Families with children would receive an additional payment of $300 per child. Workers who earned at least $3,000 last year -- but not enough to pay income taxes -- would be eligible for $300.

Rebates would be limited, however, to single taxpayers who earned up to $75,000 or couples with incomes of as much as $150,000.

Pelosi dropped some key demands to keep the tilt of the package toward the middle class and to include the working poor. In addition to the unemployment and food stamp benefit extensions, she set aside proposed funding increases for low-income heating assistance and aid to state and local governments in the form of either Medicaid assistance or infrastructure funding.

[tiger_rascal]

Does that mean I could get at least an extra $300? I file single and I make much less than 25K a year. I dont mean to sound greedy or anything, but a little extra would help me.

[db44]

You should I believe get at least $300. If you filed and paid your taxes last year without claiming anything special, it looks like you should be able to get a $600 check.

[lions1mew]

When Dubya gave out a tax rebate a few years ago, I received $500. The next year on my income tax return, I had to give the entire $500 back. If that's the case this time, keep it.

[tiger_rascal]

When Dubya gave out a tax rebate a few years ago, I received $500. The next year on my income tax return, I had to give the entire $500 back. If that's the case this time, keep it.

Oh no! Thats not good.

How can we find out if thats the case this time around?

[lions1mew]

No idea. It was a huge shock to me that I had to give it all back like it was a "temporary loan." I guess no one will know until the whole Congress votes to do it.

[WannaBreatheYou]

When Dubya gave out a tax rebate a few years ago, I received $500. The next year on my income tax return, I had to give the entire $500 back. If that's the case this time, keep it.
That's odd, because my refund that next year didn't change for the worse. It was about the same as always.

[lions1mew]

I was filling out the form and it specifically asked if I had received the rebate the year before and it smack deducted it from my refund.

[WannaBreatheYou]

I was filling out the form and it specifically asked if I had received the rebate the year before and it smack deducted it from my refund.
I honestly don't remember that on the form. Huh.

[tiger_rascal]

The IRS are a terrible group of people. They should be deported asap, to Iraq to help with the war.

[Richard Tafoya]

The IRS is just doing what the government's rules say to do. In cases like this, a politician can work the whole goo cop/bad cop thing by taking all the credit for handing out cash but let the IRS take all the criticism for collecting the money back.

Do you really think the Bush administration would operate any differently? It's about election season more that about the economy.

[tiger_rascal]

I know Richard. Im sure the people that work for the IRS are a fine group of people only doing their jobs.

So, if this passes, come June if I get a check, how do I refuse it? I mean, I dont want to take the chance of having to pay all that back 9 months later. Do I return the check to my local court house or mail it to the White House with a nasty letter?

[lions1mew]

Oooh nice idea! Shred the check into tiny, tiny little pieces and write a carefully worded letter explaining what Dubya can do with the powdery mess ... I bet I know what he'll be thinkingggg *smirks*

[Richard Tafoya]

Or you could put in in the bank and add it to your savings.

[tiger_rascal]

Or you could put in in the bank and add it to your savings.

Good idea. I am saving up for a trip to Santa Monica and San Diego. :)

[pinky]

I know our check (if we get one) won't be going back into the economy for anything but debt reduction. Of course, that will allow us to make purchases sooner, but with 2 kids in college, we aren't buying much other than food these days. :greyno:

[Richard Tafoya]

You and a whole lot of Americans. I think the powers that be are in for a surprise if they think a majority of people are going to run straight to the mall and blow it all on toys and tools.

[DoubleEdgeSword]

What? No good little American consumers on this board? Tsk. I'm going to run out and buy a whole bunch of... I don't know, something probably made in China. ;)

[tiger_rascal]

Made in China! :roll:

[Richard Tafoya]

Going to WalMart, huh?

[lions1mew]

Watch out for the lead in the paint, DES!

[SparkleHugs]

Why Santa Monica?

Not that its a bad place, just curious

[ConnieB]

When Dubya gave out a tax rebate a few years ago, I received $500. The next year on my income tax return, I had to give the entire $500 back. If that's the case this time, keep it. I just looked on my return from a few years ago. The extra check was not included as income, nor did I see it added any where else on the form. We also got the usual amount back as well.

If this is to be claimed as part of our income, you don't have the President to blame...it's the Congress that decides the regulations for this bill. This refund will cost the US about 100 billion dollars, and if they don't get it back somehow in the future, then we add that much to our national debt. So we pay it back in full next year or our taxes go up, either way we lose and they get their money back. I know they are trying to help right now, but we need the help for years to come so I think they could have come up with ways to lower the cost of living by helping the businesses more, so they don't have to pass the cost on to us in ways of increasing products and services. Yes, businesses get more breaks and they should as they are the ones who play a big role in our cost of living and keeping jobs here in the states.

[ConnieB]

Do you really think the Bush administration would operate any differently? It's about election season more that about the economy.

And you think the Democrats are approving this refund out of the goodness of their heart????? ROFL....Please... they are doing it because it's an election year as well. If this came up two years ago, the Democrat majority would not have approved it. As a matter of fact, this democratic lead congress has the lowest rating then any other congress, so they are doing it to get some approval back and to help their candidates win this fall.

[pinky]

The more I think about it, no one should have had to pay back a tax refund check. That money was refunded from taxes paid; the income that the money came from was already taxed.

Does that make sense?

[tiger_rascal]

Why Santa Monica?

Not that its a bad place, just curious

Well, one reason really, that appears to be the final destination on a Rt 66 trip. Yes, in a few years my family plans on driving down Rt 66, visit places here and there, but mostly the Grand Canyon. It was my idea to finish the trip and go all the way, which leads us to Santa Monica, but we might as well visit San Diego while in the neighborhood. :D

[SparkleHugs]

Ah. that sounds fun. Beware of the homeless. Check out Venice (its south of Santa Monica), you will see some of the most fun freaks of your life. lol

have you been to CA before?

[tiger_rascal]

have you been to CA before?

I've never been to the west coast. In fact, I've never been to many places at all. Only WV, OH, MI and Canada. And I've never seen the ocean.

We are really excited and we want the trip to go well, so we are planning years ahead. I've always wanted to visit the southwest. :D

[SparkleHugs]

That sounds fun, I have wanted to make a similiar trip, but going eastward seeing as the CA part of route 66 is basically in my back yard. I am pretty sure i take it forgranted because the idea of going to Los Angeles or any of the near cities just sounds like a day in traffic. lol I believe the novelty of it has worn off, because I know when i first went i thought it was the bees knees. lol Enjoy yourself, and be safe, there are some crazies out there! lol

[DoubleEdgeSword]

I've never been to the west coast. In fact, I've never been to many places at all. Only WV, OH, MI and Canada. And I've never seen the ocean.

We are really excited and we want the trip to go well, so we are planning years ahead. I've always wanted to visit the southwest. :D

How exciting, Chad! The Southwest is gorgeous. You'll love the Grand Canyon. As many photos or films that you've seen, none match the experience of actually being there. The southern parts of Arizona and New Mexico are wonderful as well. Check out White Sands and Carlsbad Caverns in New Mexico, and the Saguaro National Park and the Petrified Forest in Arizona. Amazing! :)

[tiger_rascal]

I've already looked those places up DES and I've made a list of places to visit! :D

But, this trip is still being saved for, meaning, it wont be taken for at least 3 years. Plus, we wanted to wait a few years anyway so my nephew will be old enough to remember and enjoy the trip.

[lions1mew]

Go a tad farther south of Flagstaff in Airy Zonie, just about 30 miles south of Sedona (gorgeous red rock country there) and visit Out of Africa Wildlife Park! I'm kinda partial to those big cats ... the park used to be in Fountain Hills, east of Scottsale, and my daughter and I volunteered out there. We got to play with the babies at the end of the day *squeals* They are all grown into huge lions, tigers, leopards and jaguars now but I still think of them as my babies LOL

www.outofafricapark.com

And I agree, DES, New Mexico is the most beautiful state. I'm prejudiced there too, as I grew up in El Paso, Texas and spent my youth in Ruidoso (pine country, mountains) about 100 or so miles north for the summers. Every kind of terrain imaginable in New Mexico from deserts, to plains to pine covered mountains.

Hope you can manage the trip soon, Chad. It's definitely one I'd enjoy as well!

As for Connie LOL what else did we expect her to say? Gotta tow that Neocon line ya know. And yes my return DID have that $500 deducted from my refund the next year. It's not something I'd make up outta the clear blue.

[SparkleHugs]

When I went to the Grand Canyon it was foggy. So i saw a big giant cloud with parts of big giant hole. lol SO disappointing. I hope you don't have that experience Chad. lol

I cannot imagine never having seen the ocean. granted, it isnt as pretty in southern california as it is in other parts of the world, but there is just something completely glorious about it. don't be afraid to go for a swim!

are you going to go see Meteor Crater in NM? that was an interesting big hole in the ground. I liked it.

[Richard Tafoya]

Depending on your route, I'm also a fan of Sedona, AZ and Taos, NM.

[lions1mew]

That meteor crater is in Arizona but yeah HUGE hole in the ground.

http://www.meteorcrater.com/index.php

[pinky]

It's amazing, even from the air! :nod:

[tiger_rascal]

We actually plan on a 2 week trip! I hope thats long enough, we will be driving, either renting a nice RV or we are looking into buying one or something like that, maybe a big van, a used one of course.

We plan on spending at least a few days in the Arizona area, at least 2 days at the Grand Canyon. We also want to visit meteor crater.

Im sure more details of the trip will be planned once the savings fund starts to grow. I really cant wait now, y'all are getting me even more excited for this trip! :D

[Richard Tafoya]

While on the road, here are a couple of sites I find come in handy for plotting meal choices:

http://www.roadfood.com/Restaurants/
http://www.yelp.com/

[tiger_rascal]

Cool, thanks for the info everyone! :D

[DoubleEdgeSword]

Depending on your route, I'm also a fan of Sedona, AZ and Taos, NM.

Yes, absolutey! Around Sedona there are some really interesting ancient ruins and petroglyph sites. You must walk up one of the many trails into the red rocks. I was there one year in early May and took a walk up one of these trails near dusk. As I sat gazing out over the valley, snow began to fall, just a few light snowflakes. Beautiful!

If you head north of Santa Fe, there is a big loop road that goes through Taos and takes you through some of the most magnificent alpine meadows of the extreme lower Rocky Mountain range. Little towns such as Red River are just off the loop road. There is an great restaurant along this route, Rancho de Chimayo, situated in a 100+-year-old house. And of course, you can't miss the all of the art and craft galleries in Taos, and the Georgia O'Keefe museum in Santa Fe.

Ahhh! I want to go back right now. :)

[lions1mew]

You are making me homesick DES ... I miss New Mexico! I always considered El Paso more a part of New Mexico than Texas since we are so removed from the rest of the state out west. And don't get me started on the INCREDIBLE Mexican food *tummy makes grumbly noises* Definitely need to eat anything with green chiles on it because Hatch, New Mexico is THE green chile capital of the universe. Oooh I need to plan a trip myself now LOL

[pinky]

We were supposed to go to El Paso for the Sun Bowl game in January of 2002 with our kids' high school marching band.

Then 9/11 happened, and no one was willing to put these kids on an airplane. There was talk of taking busses (from New Jersey??? :eek: ), but they decided to cancel out of the trip entirely, and went to Myrtle Beach in the spring instead.

The terrorists won that battle, I'd say. :greyno:

[SparkleHugs]

That meteor crater is in Arizona but yeah HUGE hole in the ground.

http://www.meteorcrater.com/index.php


Thats right, I forgot. I haven't been in nearly 10 years. and after a 2 week road trip stuff started to blend together. lol

[SparkleHugs]

That meteor crater is in Arizona but yeah HUGE hole in the ground.

http://www.meteorcrater.com/index.php


Double Post.

but now I am very interested in going to visit that out of africa park. Since it is really just a few hour drive (maybe like 8 hrs at the most) that would be a really doable weekend vacation. Even though the advice was aimed at Chad, i may attempt to go myself. lol

btw, Pinks, you got screwed out of that trip. I think i may have been the only one who was not afraid to get on a plane after 9/11.

[DoubleEdgeSword]

Well, since we're on the subject of roadtrips, I'm going to New Orleans in a couple of weeks. Never been. Anyone have any suggestions for what to see, where to eat, what to do?

[pinky]

Don't know about what's left to see or where to eat, but I'm sure there are a few houses you could help build.....

[DoubleEdgeSword]

Claire. *sigh* Girl, when you're right, you're right.

[db44]

Wait a few months, and you can build houses in NO with Jimmy!