Well TK, you are right. It is not free. Everything the government doles out, comes at someone's expense. Maybe it's at the cost of the wealthy, the poor, or future generations. This stimulus package is a big mistake IMO. What we need to do is get out of the way of the economy, and let the free market work. With low (and lowering) interest rates, now a cash dump back into the economy (which technically will be another increase in supply, as this is not coming from surplus), you're going to see inflation. It doesn't matter if 80% repay credit debt with the money, the other 20% will use those dollars to chase after the existing supply of goods, driving up prices. The conspiratorial part of me wonders, "Are they trying to destroy the economy?" and the less conspiratorial side of me thinks, "Is it possible to be any more stupid than the people making these decisions?" Evil or idiotic. Take your pick.
The problem is 'Schumer politics' and funding it with deficits so no one has to pay for it out of their pockets. There's another thread where someone posted that the Government is going to reduce pell grants and a lot of the posters feel that they are entitled to something better than heavily subsidized state universitities. I'd like to see what happens if they were taxed an extra $100 a year to maintain current spending. They would think twice before critising the spending cuts. Government cheese isn't good enough anymore. Now the US needs to send out cash checks so that you can spend it or pay your credit cards. Find out if and when you'll get a check, how much it will be, and what steps you need to take. http://finance.yahoo.com/taxes/article/104417/Tax-Rebate-Winners-and-Losers
I'm curious if anyone can answer this. My father claims me as a dependent on his tax return, so does that destroy my eligibility? To add some info, he makes enough to not be eligible for any rebate anyway, if that has any relevance. Just curious.
I believe that would eliminate you. By claiming you as a dependent, he's already getting a tax break because of you even though he makes too much to be eligible for this particular tax rebate.
You would have to earn $3000 to get the $300 You are more vaulable to your father as a dependent deduction than a $300 rebate anyway.