Stimulus Payments

[bbrownatl]

Alright, I’m having a brain freeze. I was thinking that the stimulus payments coming starting in May were basically an advance on ones refund for their 2008 taxes. However, now I see the following from the IRS

“What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.”

So basically, Uncle Sam is just opening up the checkbook and sending out cash? What are the politicians going to use for all the pork spending?

[thomtax]

Did you read anywhere that they said your taxes were not going to increase? :-)

Remember the old saying "A politician never met a tax he didn't like."

LT

[les grans]

"It won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return."

It won't reduce it from where????????????????????????? It won't increase it above what????????????? This is the government spin machine at it best, sucking in even intelligent people who don't see that what they're getting is their own money, nothing more nothing less. C'mon people.......!!!!!!!!!!

[JohnH]

True, but it's "their own" money the government is confiscating from them in the first place,so it is "their own" money they are getting back. It's all "our own" money, because the government isn't selling off assets or getting a second job to earn the money - the government is simply carving out a part of what has been immorally seized and returning it to its rightful owner. Much in the same manner than any other common thief should be compelled to do.