Good tax rebate advice for our economy

How to spend your rebate


The federal government is sending each and every one of us a $600
rebate. If we spend that money at Wal-Mart, the money will go to
China. If we spend it on gasoline it will go to the Arabs, if we
purchase a computer it will go to India and Japan, if we purchase fruit and
vegetables it will go to Mexico, Honduras, and Guatemala, if we
purchase a good car it will go to Japan, if we purchase useless crap
it will go to Taiwan and none of it will help the American economy.
The only way to keep that money here at home is to buy bourbon
and beer, since these are the only products still produced in the US.


Thank you for your help.

All good points...

The truckers are supposedly gathering together (yeah, I'll believe it when I see it) to try to get the Govt to lower the price of fuel.

I received an email that recommended not purchasing Exxon or Mobil gas for a couple of weeks/months and they'll (Exxon or Mobil) "have" to lower their prices just to survive (I'll believe it when I see it too) which will start a gas war and lower prices.

Very good points.

It's true, we have power as consumers. We just have to realize it and have the 'gumption' to follow through. I suppose if things get harder, this will be easier to do. I for one have been refocusing my spending on local small business as much as is practical at this point. For one, I am sick and tired of huge faceless conglomerates getting my hard eared dough.

Excellent idea, for those of you who will receive my tax money. Please spend it wisely.

I think a lot of this is good advice for better living in general. WIth all my new years resolutions (quitting smoking, saving money by quitting smoking, going to the gym to lose weight now that I quit smoking, etc) one of the things I've started to really get into is a better living style philosophy. One of which is making your own (since I already make beer, I'm partway there). I've been watching the food recipe section and a lot of food TV and now I'm making my own cheese, beef jerky, etc. I'm buying local milk to make my cheese.

After watching the video "Wal-Mart: The high cost of low prices" - I've basically attempted as best possible to avoid them (although I just signed up at sam's club, so I feel bad about that). I do try to buy local when I can and would feel better paying a little more for local than feeding money into a muli billion enterprise who doesn't care about you as a shopper.

If you get the chance to watch the Wal-mart movie, do so. It will give you a whole new perspective of that corporate giant.

EdWort said:

Excellent idea, for those of you who will receive my tax money. Please spend it wisely.

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Anyone who gets a 'rebate' isnt' getting anyone else's tax money. They are getting an advance on next year's tax return.


The government will stick us for the $600 in next year's taxes.

Ours will just get added into the down payment fund. And you can't get a much bigger purchase than a house ..... plus, it was made in America!

DaveyBoy said:

Ours will just get added into the down payment fund. And you can't get a much bigger purchase than a house ..... plus, it was made in America!

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Wanna bet?? Most of the electrical and plumbing material is made in Mexico and China, and I'm not laying any bets on the origins of cabinetry, etc.

Bernie Brewer said:

Wanna bet?? Most of the electrical and plumbing material is made in Mexico and China, and I'm not laying any bets on the origins of cabinetry, etc.

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Well, you got me there.

I'll just have to supplement it by purchasing lots of bourbon and beer ...

DaveyBoy said:

Well, you got me there.

I'll just have to supplement it by purchasing lots of bourbon and beer ...

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That sounds like one crazy house warming party, more like a house inferno!

Mine may get allocated to brewing... much of it finding its way to Minnesota!

Bernie Brewer said:

Wanna bet?? Most of the electrical and plumbing material is made in Mexico and China, and I'm not laying any bets on the origins of cabinetry, etc.

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I'll take that bet on our house. Well over 90% of the value of the house was made in the US. Ofcourse I have an unfair advantage because my house was built in 1924. The cabinets were built in the next county (Kraftmaid). However the new granite countertops are probably not US sourced and the tankless water heater is imported.
Still even in new construction most materials and all the construction is from the US, and that constitutes a large percentage of the house price.

Unfortunately many of my beer supplies including quantities of the grain, hops and yeast I use are imported. I'm guessing that is true for many home brewers and more than a few micros. A Bud probably is more American made than an Avery or Stone.

Craig

kornkob said:

Anyone who gets a 'rebate' isnt' getting anyone else's tax money. They are getting an advance on next year's tax return.


The government will stick us for the $600 in next year's taxes.

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Not really you will only be taxed on the money you recieve just like you do now with refund checks.

"Next year, those paying taxes will be taxed on the "rebate" as regular income. Those who don't make enough income to be taxed will not. Does that still make it a rebate? At least a partial one for taxpayers. But it's simply a handout for non-taxpayers, not a rebate"

By the time a dollar bill changes hands several times, it has already been taxed greater than it's value. That still boggles my mind.

Money is just friggin weird to begin with

Mmm, $600 worth of bourbon and beer, I like the way you think. Plus I get SWMBO's share as well. She doesn't drink.

I will divy it between my 3 kids they are out on their own and need it more than I do.

Short Drive said:

Mmm, $600 worth of bourbon and beer, I like the way you think. Plus I get SWMBO's share as well. She doesn't drink.

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I see a keezer in your future...

springer said:

Not really you will only be taxed on the money you recieve just like you do now with refund checks.

"Next year, those paying taxes will be taxed on the "rebate" as regular income. Those who don't make enough income to be taxed will not. Does that still make it a rebate? At least a partial one for taxpayers. But it's simply a handout for non-taxpayers, not a rebate"

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Here is a excerpt from http://money.cnn.com/2008/02/08/pf/taxes/rebates_what_you_need_to_know/

"Do I have to pay the rebate back?

No. And here's why.

Your rebate is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.

It's based on your 2007 income initially. If it turns out that your 2008 income and number of children would have qualified you for a larger rebate than the one you received, you'll be sent the difference. If it turns out your 2008 income was lower than in 2007 and you should have gotten a lower rebate, you get to keep the difference.

"If you were supposed to receive a larger payment than you did, you will get the extra money," said Treasury spokesman Andrew DeSouza. "If you received more than what you should have gotten, you will not be penalized.""

Thank you NAFTA.