BEWARE TAX REBATES HAVE A CATCH

Regarding the tax rebates that President Bush proposed to stimulate the economy - These are not free and clear. Please be advised that they will be deducted out of any future refund, and I am sure if you get a rebate and owe the government in the future the amount that you receive will be tacked on. So you will have a higher tax bill. I am angry and there should be a way to opt out of this.

I cannot see how this will help the economy. It will cause a major shortfall next tax season in rebates thereby stressing the economy even further.

In essence this should not be called a "Rebate" it should be called a "Loan." That is exactly what we all need - another loan!

Quote :

Treasury chief: Tax rebate checks to go out in May

IRS gearing up to send out checks of $300-$1,200, treasury secretary says


WASHINGTON (CNN) -- Tax rebate checks will begin going out in May, Treasury Secretary Henry Paulson said after the House's passage of a Senate-approved $167 billion economic stimulus package Thursday.

The House of Representatives voted 380-34 to send the measure to the president a few hours after Democratic and Republican senators reached accord and ended a days long stalemate over the legislation.

Earlier, two White House officials said President Bush would support the package. The bill will be delivered Friday to the White House, with Bush's signing likely sometime next week, Democratic aides said.

The package, which passed the Senate 81-16, will send rebate checks to 130 million Americans in amounts of $300 to $600 for people who have an income between $3,000 and $75,000, plus $300 per child. Couples earning up to $150,000 would get $1,200.

The checks are an advance on next year's refunds, and most, if not all of the money, will be deducted from taxpayers' refunds in 12 months' time.

"My team will be sitting down with the IRS tomorrow, and the IRS, right in the middle of tax filing season ... will be working to get checks out," said Paulson, who helped broker the deal.

I appreciate your news print and response, Spring. I wish I had something positive to say in this arena (circus, that is). Even intelligent people who read the fine print, assess the intent, research it out, etc., still CANNOT opt out on so many things our govt imposes. We vote the crooks out come next election and the new crooks seem to beat the same drums. I have a tiny bit of hope left in my hope chest, unfortunately, I don't see anyone on the horizon yet I'm willing to marry (into).......

It has a catch?

What did it catch? I hope it was a fish, people like catching fish.

Or a Ghost. They caught a Ghost

I had no idea! This is outrageous!