Your tax rebate!

[PhiSigMeg]

Originally posted by lifesaver:
To make ya'lls day brighter...

For those who are getting a rebate in a state that has a state income tax, you will have to pay state taxes on your rebate. Dont ya just love the government? Even when he is putting cash back in your pocket, she still manages to rob ya.

for bucutie and purpleturtle, we dont have to worry about those things,

<lifesaver gloating>

Texas doesnt have a state income tax.

(Of course I am only getting about $36 dollars back anyway. Enough for Dinner and a movie on the prez. Thanx GW. )

[This message has been edited by lifesaver (edited July 26, 2001).]

It does seem unbelievable that states could tax your TAX REBATE!! I guess that's what we get living in a big bureaucratic government, which has to tax hard-working people to death in order to fund its ill-run programs. But that's just my opinion!

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Megan
Gamma Nu Chapter
"Once a Phi Sigma Sigma, always a Phi Sigma Sigma"

[SilverTurtle]

As my lil' says: "It's just blood money".

For all of the evil the W. is about to bring to the counry. We've had all sorts of conversations about the money, and no real reason is good. He's either:

• Circulating money that doesn't actually exist (by printing extra) which will totally depreciate the value of a dollar & cause major inflation.
  
  OR
  
• Spending government money that they owe to other people/places/things, making their debt greater & still hurting the economy.

According to my letter, I'm getting the full $300 (we'll see when the check arrives ). I'm going to spend 1/2 on my firs tattoo & bank the rest. My lil' says she's stuffing it under her mattress because it might be the last $300 she sees (a little dramatic, maybe!).

My boyfriend's letter said he didn't qualify because he either didn't pay taxes or can be claimed as a dependent, neither of which is true. Stupid Republicans.


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SilverTurtle

Phi Beta Fraternity: National Professional Association for the Creative & Performing Arts

[PhiSigMeg]

Being one of those "stupid Republicans" I felt the need to reply. The typical family pays almost 40% of their income in taxes, after accounting for federal, state and local taxes. 40% That seems a bit much to me, considering how much of our tax dollars are being wasted. I feel that I know how to best spend MY money that I work for, and not some politician or bureaucrat in D.C.



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Megan
Gamma Nu Chapter
"Once a Phi Sigma Sigma, always a Phi Sigma Sigma"

[delta1902]

Originally posted by Kevlar281:
I was so ready for my refund (I was going to buy a GameCube) until I got a letter from the IRS the other day that pretty much said since my parents still use me as a deductible (dependent) that I wont be getting one.

I am glad that I am not the only one.... I had big plans for that taxs refund

[bucutie02]

Originally posted by Hootie:
I too was excited for my rebate, but found out I wasn't getting one because my parent's claimed me. URG. Oh well. I'll get mine in another billion years.
Hootie

My thoughts exactly. I got my letter saying i wasnt going to get money back because my parents claimed me!! I was so dissapointed!

[AlphaSigLana]

My parents claimed me as a dependent too. What I don't understand is why the letter said to keep this paper. Why should i do that? SO I can remember that I'm not getting any money. I shouldn't complain because I got $500 back when i filed taxes, but it's all gone now- sorority dues!

[SilverTurtle]

Originally posted by PhiSigMeg:
Being one of those "stupid Republicans" I felt the need to reply. The typical family pays almost 40% of their income in taxes, after accounting for federal, state and local taxes. 40% That seems a bit much to me, considering how much of our tax dollars are being wasted. I feel that I know how to best spend MY money that I work for, and not some politician or bureaucrat in D.C.

Please don't be offended Phi Sig, I totally agree that people pay too much in taxes. And the "stupid republican" comment was mostly just joking The problem with this tax relief plan is that A.)The people who need the money can hardly get anything back and B.)The economy's not ready for it.

Did you know some guy actually sued the U.S. government and won because it is actually illegal to require the people to pay income tax? (I forget the case, unfortunately, but I know immediately some laws were ammended).



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SilverTurtle

Phi Beta Fraternity: National Professional Association for the Creative & Performing Arts

[dc1]

Originally posted by Corbin Dallas:
Ok, I just read the article, but it doesn't make sense to me why they would advance on next years refund. I'm even more confused now...

If I am reading the article correctly;
The $300 is a refund from next years tax refund... the government did this in an attempt to recover from the current economic slump.
Consumer spending accounts for a little over 68% of the Gross Domestic Product (GDP - total output of the economy) With the $300, we can now spend it (consumption), putting it back into the economy, thus reducing inflation and stabilizing the economy.

Keynesian Economics, gotta love it...

Hope that helps


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Faced with the Divine, I was asked; "What one gift do you seek?"
I answered ever so meekly; "I seek Honor, Truth, Integrity, and Wisdom, yet those are four. How am I to choose?"
The answer came as a pounding whisper; "The four you seek are but one. I grant thee Compassion; for without it the four make none."
Author - me

[This message has been edited by dc1 (edited July 29, 2001).]

[PhiSigMeg]

Originally posted by SilverTurtle:
Please don't be offended Phi Sig, I totally agree that people pay too much in taxes. And the "stupid republican" comment was mostly just joking The problem with this tax relief plan is that A.)The people who need the money can hardly get anything back and B.)The economy's not ready for it.

Did you know some guy actually sued the U.S. government and won because it is actually illegal to require the people to pay income tax? (I forget the case, unfortunately, but I know immediately some laws were ammended).

No offense taken SilverTurtle! While I may disagree with you on your points, on political issues I'm always willing to agree to disagree


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Megan
Gamma Nu Chapter
"Once a Phi Sigma Sigma, always a Phi Sigma Sigma"

[aephi alum]

I just got my tax "rebate" in yesterday's mail. You know what it said??? "Tax Relief for America's Workers". Don't make me laugh, W.