So you’re getting 300 to 600 dollars in a tax rebate check

January 25th, 2008

A few days ago I posted my thoughts about the proposed “economic stimulus” where the government will be giving back about 300 dollars per tax payer in a retroactive tax cut from 2007’s tax year. You can read my thoughts about this tax rebate here. In short though I believe income tax is theft and I am for any and all cutting of income tax for anyone from the poorest to the most wealthy. On the other side though I think this rebate is bad for the country because there will be NO SPENDING CUTS on anything to fund it. All we are doing is going deeper in debt. Again read my full post on this to understand this better.

What I wanted to ask though today is what will you do with your 300-600 dollars in rebates?

Since I posted that orginal post I have been getting many visitors each day finding my blog from Google, they are all searching for things like

  • “when do we get our tax rebates”
  • “government giving out rebate checks”
  • “will we get stimulate the economy checks?”
  • “when will we get our government rebate checks”
  • “800 dollar rebate checks government”
  • and you have to love this one “government giving 300 dollars to everyone

Now I am not here to criticize anyone but my guess is most of the people doing these searches are just itching to get that “free money” and blow it. Indeed that is “the plan”, yes indeed Uncle Scam (not a misspelling) wants you to spend every dime on consumer goods to “stimulate the economy”. The theory is more spending is good because more money is in circulation.

So please comment below after you read this post and tell me what you plan to do with your money. As many may suspect mine will be invested and many in the government want to not give the money to people like me that will save it. No they want “good Americans” to spend the money and “put it to work”.

So what are you doing with your refund?

  • Taking a vacation
  • Just blowing it
  • Saving it
  • Paying on debt
  • Investing it
  • Not sure yet?

Let us know because it is interesting what happens when you really ask yourself what you will do with extra money. Perhaps just perhaps thinking about this may make a few more of us think about saving this refund for a really rainy day. Trust me if you remember 1978 times are really not that bad right now.

Keep in mind this is not some government “entitlement” this is indeed your money, your tax dollars that you paid being returned to you. To do so your government has grow our debt by BILLIONS more. Again I am 100% for any rebate, any tax cut, any tax abolishment. Just realize that our elected officials did not think about how to fund this thing, they are just buying your votes from you with your own money and charging it along with interest to your children.

So knowing that how will you be spending your money, remember it is indeed yours it is not a gift from our exalted officials.


58 Responses to “So you’re getting 300 to 600 dollars in a tax rebate check”

  1. matt on January 27, 2008 3:35 pm

    will this rebate just be this year
    or will it be every year

    and what if you didnt make $3000, you dont get anything
    or what?

  2. Cost Cutter on January 27, 2008 8:55 pm

    Well it is one time as in this year only and it is being paid based on the taxes you already paid in the past tax year.

    If you made less then 3,000 then you won’t get a rebate. To get a rebate you would have had to pay income tax. If you made under 3,000 you ended up paying effectively zero. Hard to rebate someone who paid nothing isn’t it.

  3. nittany on January 29, 2008 11:26 pm

    read that if you made over 75,000 (single) you do not have access to the refund. Is this based on your gross or do they take out interest paid on home/students loans and use that dollar amount?

  4. Adina on January 30, 2008 2:54 am

    IF we get a rebate, the amount we get for them will go into their savings accounts (for future long-term use) and any amount for the adults in the family will be invested (perhaps to be spent later for something fun, but later rather than sooner). We especially won’t be spending on the economy because we are still spending our tax refund we will be getting in February!

    I appreciate extra money (who doesn’t - especially if it is yours to begin with) but this seems frivolous since we are so far in debt. Pay something off!

    My idea is that this rebate be given toward consumer’s debt (not put in pockets) and only given in cash to those who are COMPLETELY debt free!

  5. Adina on January 30, 2008 2:55 am

    “them” in the previous comment referred to the children in the family

  6. Joey on January 31, 2008 1:35 am

    Okay free money, Um its ours to begin with I say save it, invest it, But whatever you do don’t blow it. When was the last time the Government gave away free money during a war crisis?

  7. Li on January 31, 2008 11:17 pm

    My question is: What if you’re a dependent?

    I made well over 3000 this past year and I have to pay taxes. However, since I my permanent address didn’t change until August of last year, I was still seen as “living with” my mother when I really have not been since 2006. Also, since my father pays for my schooling, he can still claim me as a dependent if the total expenditures he had for me were more than what I made as a whole. (considering I made only around 7k, I’m sure he has spent more than that on me for college)

    So… he claims me as a dependent… but I still file taxes like I do every year AND pay on them–in TWO states? I hope I at least get thee 300. It would help greatly on giving me a cushion so I don’t have to penny pinch and can finally start up a savings account.

  8. Cost Cutter on February 1, 2008 2:01 am

    Li

    My understanding is if you paid income taxes on your income and you made in excess of 3K your getting something. How much is yet to be determined looks like the senate is “loading up” the bill the house passed. We will see if Georgy keeps his word and vetos a “loaded up bill”. I doubt it!

    Odds are you will get something and Bush will allow the Senate to load up the bill. My question for you is what will you do with what ever you get.

  9. Rob on February 2, 2008 2:51 pm

    if I get anything from the IRS, it will go right back to the IRS.

  10. Kristen on February 3, 2008 12:58 pm

    After finishing up my taxes, I am really just pissed off. Ever since I graduated from high school, this time of year just pisses me off more and more. I have to pay all of my expenses, however, I live in my parents’ house so they claim me. They claim my school costs and everything. So–I get nothing for it. But, what makes me more mad is that I can pretend I’m independent and do a test 1040 and I wouldn’t get anything back for schooling…but my parents can get up to 4000?? WHAT the ****?

    Anyway, if I don’t get this rebate check type thing, It would just anger me that it was going to them.

    If I do get it, however, It is going to savings for a while and then hopefully I can add it to some of my income and invest–but I only make 4k a year so ****

  11. b on February 5, 2008 2:53 am

    I was looking at the coment LI made. does the parent that claims the child get the rebate or does the working child making over 3000 get the rebate?

  12. RJS on February 5, 2008 2:14 pm

    i have just heard about this this past week from my dad i heard if you have a kid then you get 300 for each child. but if you dont have any children or they are older then you get 600 as long as you dont owe anything. but i made just over 18k last year so i think i will be getting something. it will be going towards debts

  13. Dibble on February 5, 2008 3:05 pm

    I have a question about the rebate, if my dad claims me to be a dependant, does that mean hell get an extra 300 for me, and i will get nothing?? If i claim independent, will i get the 600.00 rebate myself? I made over 3000 dollars last year.

  14. Dibble on February 5, 2008 4:08 pm

    one more question about the rebate and dependants. If i claim independent and my father does the same and we both made over 3000 dollars in 2007 will we both be eligible for the 600 dollar rebate?

  15. josh on February 6, 2008 9:32 pm

    ok say we get this “check” will i have to pay it back at the end of next year. this “check” will count as incomtax thats paid. if your tax return isnt over 300 dollars do you pay the diffrence

  16. Kimmie on February 8, 2008 11:55 pm

    What I will do with my 600.00 if I actually get it because I tend to not believe things until they actually happen. Anyway what I will do is pay off my credit card I only have 700.00 to go!!!

  17. Corey on February 11, 2008 9:39 am

    Just a guess here really but I wouldn’t be surprised to see the price of gasoline go up a few cents a gallon after these “rebate” checks are issued. :o) I think I missed the date of issue, if it was above someplace. Anybody know when Uncle Scam is going to fork over the cash?

  18. MiaSavLei on February 13, 2008 4:14 pm

    IF we get a rebate, and there is no guarantee if we will or that by May, it won’t be reduced somehow, I plan to save most of it but probably invest it mainly. I am a single mother, by choice though it gets interesting in many ways specially financially, but I never do for myself ever, it’s always about her. If I ever did anything for me, I would end taking it back and get her something instead or apply it to a bill. My point is, for once, how about something for me? Whether it’s my money already payed in coming back to me or not, I could use it, but I do agree with a lot of people, it won’t be to stimulate the economy so much, it will be to get caught back up with bills and expenses, not purchase more debt. Either way, I am grateful for anything extra.

  19. CORI NELSON on February 13, 2008 10:31 pm

    Whats Bush up to now?????? This country is so f’d up! You who dont understand what I mean you fall in the f’d up category those who do understand… What are we to do, form a militia and overthrow the government is what comes to mind for me. wtf!

  20. Daniel Veers on February 14, 2008 1:18 am

    Bush’s theory is genious!!! With more than 3/4 of Americans in debt, the likelihood that anyone will save it is slim to null. Let’s face it, on the whole, the American public is so terrible with money its insane. Their is a reason the dollar isn’t worth anything compared to Euro, and the yen. Try traveling in Europe for a while and you’ll understand what I’m talking about if you don’t already. There is a reason that 80 percent of the world’s wealth is held by 20% of the population. 1. People have no self control. 2. The people who have the wealth know HOW TO SAVE THEIR MONEY and make wise investments. His proposal will stimulate the economy and should be blown. That’s exactly what Roosevelt did to help get out of the Great Depression. He spent tons of money on labor to build roads, buildings, canals, etc… This money is meant to be ‘blown’. Don’t criticize him for doing something correct. This is brilliant and he should be applauded for doing so. I’m an avid republican and I think that this is one of the few WONDERFUL decisions that he’s made. The only way it will backfire is if people save it. So spend it, buy that ipod, put a down payment on a new car. Go blow it at a bar. Or better yet, go spend six hundred dollars at a bookstore and learn how to start saving your money! BUDGET, it helps, believe me, I don’t make that much. I just graduated college and I’m in debt up the wazoo.

    Cheers

  21. Marie on February 16, 2008 1:27 am

    You know a good way to stimulate the economy?! The country should pass HR 676 (a national health service plan) that will SAVE the government 300 billion dollars, while giving citizens extra cash in hand (no more paying for medical bills) to spend on whatever they please. This is such a stupid tax rebate plan that won’t even band-aid the current economic situation…

  22. charissa on February 17, 2008 10:53 pm

    What if I made about 2,800.00 in 2007. I still paid taxes on it, but would I still not qualify for the rebate. My fiance and I have a daughter but he claims her so I know he will get some extra for her, which will be nice for medical bills, but I just wanted to understand if I would get anything since it was under 3,000 but I still had to pay taxes. Thank you

  23. Lisa on February 19, 2008 5:36 pm

    I’m paying my rent with it! Every penny is already spent. Everyday living is hard enough in a big city.

  24. jimmy on February 20, 2008 5:56 am

    charissa

    Sorry to say that you have to have an income of at least 3000 to get any amount of the refund being given. Furthermore, technically you may have paid taxes up front for the 2800 you made in 07 but since you were not married you should be eligible to receive all the federal income tax back when you file. I don’t know off hand the exact amount but if you make something like less than 5500 annually you are not viewed by the IRS as being in a paying bracket and may receive all the tax you paid back. this should hold true for your state if they have an income tax program as well. So basically look at the dollar amount paid for state and federal taxes only on your w2/’s and add them, this should be your minimum refund amount; it could possibly be more if you claim yourself and qualify for any additional exemptions.

  25. cory pio on February 21, 2008 12:04 am

    buy am ounce of marijuana…that way i wont be feeding the above ground economy

  26. donald on February 21, 2008 6:58 pm

    you people make me sick!!!! we are getting this to spend and put back into the economy????? not to save or to send your kid to school….SPEND IT and maybe try to get something going here….the facts are sooo very true …smart people have no COMMON SENSE…you people drive me nuts..if most of you guys would have to do something else to survive you would never make it TRUST ME ON THIS ONE

  27. John on February 23, 2008 12:36 am

    I think Bush’s plan is great, but the money is for trying to get everyone out of debt sice 80% of Americans are drowning in debt.Put the money back into the economy thats what I think.Im going to try to pay off some debt that I have and try to get back on my feet finanically.I think it wold be stupid to save it.SPEND IT!!!!

  28. John on February 23, 2008 12:41 am

    What are yall thinking?! Put the money back into the economy and pay off some debt or bills!!SPEND IT!!!

  29. Elizabeth on February 25, 2008 12:02 am

    Well since I am now student teaching, I quit my job as required by my university in January. I will not be able to get a teaching job until August when the new school year begins. This leaves me with no income for a few months. The 600 will help me eat for a few months :o). Also, just as a side bar - why can’t I get medicaid? I am unemployed for a legitimate reason, have been a consistent tax payer all my life (Im 34), why am I not entitled to at least some health coverage? No, they tell me I have to have a child - I’ll run right out and get one of those - or be disabled… hmmm, I can not tell a lie, like lots of other people in this country… or be… (clearing my throat) an illegal alien with an emergency/pregnancy. What the #$%^ ?

  30. Lisa on February 26, 2008 5:20 am

    Yeah. Um. Mr. Veers comment made little to no sense. He chides the majority of the American public for being ignorant in the ways of money, and in the very same ill constructed run on sentence, tells us that we ought to go out and “blow” the money. Sound advice.

    I will be saving it, in order to try to get my feet on the ground.

    To say that this is irresponsible to our country is preposterous. Wouldn’t our country’s economy be much better off if everyone decided to become financially stable? I hardly think the answer lies in giving free money to people in order to purchase more stuff, especially when we have troops fighting an illegal war who are ill equipped and dying because of it.

  31. Lisa on February 26, 2008 5:28 am

    Also, I forgot to mention, this recession is due to the fact that people weren’t financially stable enough to pay their mortgages.

    And Roosevelt wasn’t handing out free money, he was paying people to improve infrastructure.

    And! If everyone went out and just spent their rebates on whatever, that would increase inflation, which would just make everything that much more difficult.

  32. Angela on February 29, 2008 4:31 am

    What about if your on Social Security disability and received more than 3K?

  33. phil on March 1, 2008 9:01 am

    i say we all re-invest that rebate $ that will help both sides of the coin here,
    ——- buy precious metals such as silver or gold in any form–wheteher it be retial, wholesale, from the gov, your local pawn shop–whatever– it dumps $ back into business well at the same time u have something to show for it that may go up in value maintain or even lose a bit but at least that $ was shown spent into the economy. thats what im doing.

  34. andrew on March 3, 2008 2:53 am

    paying a vehicle payment with it.

    i just wish our government would smarten up and look out for our lower/middle class during this slump in our nations economy.

  35. charlene on March 4, 2008 4:19 pm

    the whole point of this rebate is to spend it people. i am an economics major, so i know the ins and outs of this…

    if you pay off bills/debt, it will help you in the short term, and a very very little for the economy, but you will just get back into debt once we slip into full-blown recession.

    this is probably the first and only smart decision bush has made from birth to date. i’m not a fan of his (obviously), but i give credit where its due. while roosevelt did pay to have infrastructure, realize: it wasn’t needed. he put extra cash into people’s pockets by creating useless jobs. most of the railways aren’t even used today (look at larger metro-cities, and you’ll catch my drift).

    every one should SPEND this money, not save it, not invest it… spend it… if you don’t want to “blow” it, then spend on something worthwhile, like the gold/silver stock mentioned above me… or, like i’m doing, I finally going home this summer to visit my family i have seen in 4 years… since i can finally afford a plane ticket… or hell, use it to take a class at a community college over the summer…

    just spend it.

  36. Just a reminder: The Bridge to Nowhere Costs What?!? « How Many Steps to the Moon? on March 14, 2008 3:32 pm

    […] to people because they might use it on “spurious” goods, isn’t that exactly what W & Co. want us to do with that ‘rebate’ that’s showing up sometime in the summer?  […]

  37. Korak on March 17, 2008 3:54 pm

    Since I only made $3700 last year, I’m assuming I will only receive the $300 rebate. To answer your question, oh unnamed, semi-anomynous host, I will be carefully spending that pittance on my house construction. I’m building a small cabin in the woods and any extra money I get this year will be going towards this investment. I’m building the house myself- completely without help, so it’s taking far longer, but unlike most Americans’ homes, when it’s built, it will be completely PAID FOR! (I have worked as a carpenter and a plumber long enough to know how to build a proper house, so no worries about it falling down!)

    You sound like a person I’d admire- fiscally conservative and socially liberal, just like me. I’ll be reading more of your website, certainly. (Hint: use a pseudonym, no name whatsoever is awkward. How `bout NDM for next door millionaire?)

    sincerely,
    Korak (not my legal name!)

  38. nate on March 17, 2008 11:48 pm

    I’m broke and i’m spending it! Of course! I Wouldnt be broke in the first place! Bush is a genius!

    I do have a question. i made over the three thousand. I’m a student who took out loans, over twenty grand, dependent on my parents. But I filed my last taxes as a independent. will i still get the three hundred?

  39. Hilary on March 19, 2008 3:55 pm

    I think dont it’s right that I dont get a check.. I didn’t make 3,000 dollars because I cannt work but Im a single mother with one kid… Will I still get one or no??? Something for my child??

  40. Cost Cutter on March 19, 2008 5:14 pm

    @Hillary - Not that I don’t feel for you or anything but in reality how in the hell can anyone that did not actually pay taxes expect a rebate? If you are in the situation you claim and make any money that requires you to file at all you already GET BACK MORE THEN YOU PAY IN.

    I know plenty of single mothers that work hard to make ends meet and honestly if they can you can too. This was the whole point of this post, our nation is becoming one giant line of people with their hands held out for a hand out and an excuse for everything.

    In short no you don’t get a rebate on taxes you NEVER PAID.

  41. John on March 20, 2008 2:03 pm

    You might get 300 dollars since you have a child but i dont know you said you didnt pay taxes last year cause you cant work.Probably not. You know there is help out there from the goverment if you need it and you qualify for it.

  42. jessica on March 25, 2008 9:58 am

    I will be blowing my money on a vacation to Philadelphia to see the Star Wars exhibit at the Franklin institute.

  43. Tammy on March 25, 2008 5:51 pm

    If I get one, it will be spent on a divorce. I pay my bills and keep things pretty current, but have been unable to afford to pay for a divorce from my husband that I have not seen in three years.

    Just a point-free money? I have given them a lot more than $300-900 over my 45 years of life. It’s like they’re just giving some back. I think the timing is great.

  44. Tom on March 25, 2008 8:04 pm

    I heard that this is just a loan from the government , which the government will charge you during next tax season. Is this correct? Is this money from past tax revenue from it citizens or is this a future bill we will be looking forward to in future tax seasons?

  45. Jonny on April 1, 2008 9:28 pm

    I got here searching “600 dollars for every American” but not because I’m ‘just itching’ to get ‘free money,’ it’s because I heard about it and I didn’t believe it.

    Plus, also, additionally, as many have said, “just blowing” this money is the entire point. They’re not giving us money so we’ll like them, they’re giving it to us so we’ll spend it. I’m not that into the supply side economics thing, but that’s the general idea.

    So yes. I’m going to spend money on things when I have money to spend on things.

  46. Tyrone Biggums on April 19, 2008 2:06 am

    Buy me a nice crack rock

  47. Amber on April 22, 2008 8:18 pm

    I heard that its free money this year but next year it has to be paid back. Like a government loan.

  48. D Snyder on April 25, 2008 5:11 pm

    Pay off your bills people! Stop shooting yourself in the foot.

  49. Melly on April 25, 2008 9:03 pm

    Yeah, so I’ll be paying bills. I’m a student and live pay check to pay check so I might as well pay off some bills. (Though I might take 100 out for myself to spend, that’s the whole point isn’t it?)

    What I DON’T understand is why 300? Is that really going to stimulate the economy? I, myself, really doubt it. They should be more concerned on lowering gas prices and save people well over 300 dollars a year.
    -Melly

  50. Kathleen on April 28, 2008 6:19 pm

    Hi,

    Although I agree that this is not great for the countries economic status, extra money is always appreciated. Especially since I just resumed fulltime professional employment after being layed off a year ago; I intended to pay bills.

    My question is….my tax rebate was direct deposited. I no longer have that account. Will they automatically be depositing these checks as they did our refund or will we recieve it by mail? Thanks in advance

  51. Kristi on April 29, 2008 10:38 pm

    Paying on some debt on a high interest credit card

  52. Coco on May 2, 2008 2:14 pm

    With my 300 dollars, i am going to save it and pay bills with it. which is beneficial to me sure, but then again one of my bills is to my credit card, which i used to buy things, which paying my credit card bill is a payment to the economy. and i will also be paying towards my phone bill. which i bought the phone and the plan, and as we all know anything bought is in some way effecting the economy.

    SO basically all this is doing is giving us some extra money to put right back into the economy, which goes back to the government at some time.
    but this is inevitable cause what else do you do with the money?
    save it?
    but then do you just hoard it away till you die, then allow it to your family who is just gonna spend it?
    invest it?
    which the stock market is a major fuel to the economy and how most people view the economy and the whole nations economic status…

    SO pretty much the government is giving us this money to go right back to them…
    whether i get it or not doesnt matter too much

    but getting 300 whole dollars sounds exciting to most college students as myself that slave away at a minimum wage job!!!

    its not that amazing guys

  53. melissa on May 3, 2008 7:16 pm

    what if i am 17 but made 100 less then 3000 dollars, is it i get nothing because i didnt make 3000 dollars or since im “17 and under” the 300 dollars go to my parents?

  54. courtney on May 8, 2008 2:44 pm

    I was a stay at home mom until Aug 07 so I didn’t make over 3K last year, but I did claim my oldest daughter, will I still get something back just bc I claimed her??

  55. kitty on May 10, 2008 10:50 pm

    why did I only get 300.00 dollars back and not the full 600.00?

  56. tkvc on May 12, 2008 12:42 am

    so i just got 300 bucks put directly into my bank account from the us treasury department. and im curious as to why i got 300 and not the 600 all my friends recieved when i make abou the same amount of money as they do. If you are wondering what I will use the money for, ill probably blow it because i suck at saving money.

  57. PIST on May 13, 2008 2:34 pm

    I already got my lousy 300 dollars. I was expecting 600 and i got screwwed with half. My parents were suposed to get 1200 back but they “made too much” so they got back 152 dollars……..this whole thing is a joke they should have never done it. Kinda sucks that our govnt always tells us one thing and does another.

  58. Ricardo Lopez on May 17, 2008 6:41 am

    Dude, I got 300 dollars in my bank account because I signed up for direct deposit, and I was actually happy, but when my brother told me that everyone he knew was getting 600 plus, it kinda sucked. I know free money is free money but when others get more because there richer or w/e, its kinda bull in my pov.

    But that aside, the real thing I wanted to say is that our economy is going to hell and I consider this hush money, so spend it soon or invest it, but if our economy hits another breaking point, then this money isn’t going worth anything near what it is worth right now.

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