The Congress just anounced that the tax refund/rebate (or whatever they call it) will be about $1,200 for a married couple. Just the right amount for a quality Bass. How much is the New American Standard? Is it enough for a nice used Lull? I can't wait, I want my check now!
Rocky

I saw the new American Standard P-Bass the other night. That was $1099.

...and will probably be f-all for a single white male.

You can pick up a new Stingray for that much. Solid basses, those.

That's the ticket -- get out there and spend that rebate and stimulate the economy!

Just for your information:

Income phase outs are in effect this time around, unlike the $300 check we saw about 6 years ago.

If you file a Single return and you have an adjusted gross income of $75,000 or more, no money for you.

If you file a Married return and you have an adjusted gross income of $150,000 or more, no money for you.

Yea. No money for me.

You're a stimulate the economy.

No bass for me. Don't tease me.

Haha, I like how the wife's spending interests aren't being equated into your tax return at all.

See, Rocky, the key to the statement is married couple. That involves the spouse, which means it would be easier to pull teeth on a chicken than getting permission to spend 'our' money on something like that for 'just me and not everyone'. I used to go off the premise that forgiveness was easier to get than permission, but that isn't true either.

I hope they send the check soon. I also have 4 kids, so that's $300 per kid, which is.... taking off shoes to count.... $1200 more for my family. Woo hoo!

Buy american. I humbly suggest G&L.

D*** you Lug! I said, "Don't tease me."

I think I'll just scrape under the wire based on 2007 income. 2008 income... no extra cash for me.

Really, it sounds like BS; unfairly taxing the middle class.

Well see things on the bright side of life, my other half is self employed and January 31st is the date to pay the taxes Lovely just after christmas and new year.

Self-employed citizens on this side of the pond get completely hosed in general, David.

By the way, the checks are scheduled for May 2008 at this point.

I am curious, are they going to work off of the 2006 or 2007 return?? I hope 2007 because I might get something back if they go off the 2006, I'm screwed, as usual.
Rocky

2007

Damn.

Refund? What refund? I actually have to pay more money

Well, having less than $75K income last year means getting a refund, I'm all set. I brought home less than half of that...

If it makes you feel any better, Picker, I am the government's favorite person to tax. I make less than $100K a year and I'm single. If I didn't own my house I'd be paying thousands at tax time.. Mercifully the house offsets the evil taxes and I wind up getting a decent refund. It still pains me to look at what I get paid vs. what I actually take home. I honestly don't look at it anymore because its all done electronically.

I'll see nothing from this most recent tax break/refund. The heartless bastards.

The present taxing system puts all the power in the politions hands to manipulate the economy and peoples lives. It gives them power which they must have to make their cold blood flow through their veins. A simple Federal sales tax, collected by the states, alongside the state sales tax seems too simple and makes too much sense. Granted it would put millions of people out of business who make their living trying to keep us out of Federal prison for screwing up on our taxes. It would also cause a serious recession because when the average citizen went to buy something and he was faced with paying 25% sales tax on the item, he would say to himself, ya know, I really don't need that thing that bad.
Rocky

Rocky, there are two big problems with a federal sales tax.

First, as you alluded to, it stymies spending and promotes savings. No postwar administration or congress has wanted this to happen. Negative savings has been all the rage, like a national Ponzi scheme.

Second, while it would initially do away with all the other taxes, they would eventually creep back in. The state would also never allow it to happen.

The current tax structure is extremely complicated, but it could work. In my opinion, the problem doesn't lie with the taxation, it is the size and spending of the government. No one wants to deal with a correction for the US economy, and since we are surrounded by career politicians, no one will give us the dose of hard medicine. What congress or president wants to be the one to see the Dow dip to 9,000 or 10,000 with 12% unemployment? I pay a lot in taxes, and it is not the amount of tax that gets me angry, it is the way it is spent. I use to volunteer to prepare tax returns for low-income families until I got fed up with it, but that's a whole different rant that probably doesn't belong here.

Eventually it'll break on its own, and like hot potato, whoever is holding the spud at the time takes the blame.

Add self employed and not paying any quarterlies.
I do the only thing that makes sense. CHEAT!!
I still get killed though.

It is criminal what they do to the self-employed. I am convinced if people knew what they were getting into, no one would own a small business.

Just FYI, be careful. The IRS's new algorithms are nasty and they really do not care about "materiality" anymore. They will go after anyone.

I am 69 years old, I have, over the last 48 years been self employed, a small business owner. Most of my employees have been at, or slightly above, minimum wage earners. I have always claimed that employers pay all of the taxes because the average worker is only interested in his "Net take-home pay" That is what he works for and has little knowledge of the taxes he is actually paying. The employer hires him for his net amount therefore pays all taxes. I think it would be wonderful if all Americans really understood how much goes to taxes. I think the Federal/State sales tax would wake up the public and outrage them, maybe to the point of demanding and reducing the size of government and their drunken spending.
Rocky

Thanks. I honestly have never seen anyone get audited but I don't imagine it's pretty.
I will go a long way to keep from running payments through my bank and keep my jobs small enough to not often warrent a form from the customer. I realize that they write off home improvements but have a hard time believing the IRS would come after poe lil' ole me.
That and I write off everything!! The good thing is where I live mileage is a huge deduction and I track every tool no matter how small.
I recommend self employment. It forces thought and organization and responsability and promotes good fishing! kl

Well, I'm getting $600...if the student loan folks don't get it first...

Think one of those X2 Wireless systems just might be in my future...