# Your $800/$1,600? **URL:** \ **Category:** PittSpeed Off Topic\ **Created:** [January 21, 2008, 1:25pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951 "2008-01-21T13:25:19Z")\ **Posts on this page:** 20\ **Page:** 6
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [February 19, 2008, 10:16am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/101 "2008-02-19T10:16:12Z")
either way, everyone sees this as the government giving them free money. It isnt. It’s giving you some of your money back. Of course, if we voted a politician into office, the government wouldnt be stealing so much of your money in the first place, it wouldnt be propping up economic bubbles, it wouldnt be devaluing the dollar, etc. But people that propose things like this are “crazy crackpots”. :ugh2: ---
**Author:** ![Jeff95TA](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jeff95ta/32/5935_2.png) [@Jeff95TA](https://forums.speedlife.net/u/Jeff95TA)\ **Post date:** [February 19, 2008, 10:19am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/102 "2008-02-19T10:19:05Z")
> [@997 GT3 RS in Orchard Park](https://forums.speedlife.net/t/997-gt3-rs-in-orchard-park/34972/40): > > either way, everyone sees this as the government giving them free money. It isnt. It’s giving you some of your money back. Of course, if we voted a politician into office, the government wouldnt be stealing so much of your money in the first place, it wouldnt be propping up economic bubbles, it wouldnt be devaluing the dollar, etc. But people that propose things like this are “crazy crackpots”. :ugh2: Oh, I realize I’m just getting my own money back, at a much lower percentage than I paid, and it will do nothing to stimulate the economy. I just want to know what to expect for '08 taxes. Getting deductions correct is bad enough when you have to itemize for mortgage interest that changes each year, much less if I need to account for something new. ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [February 19, 2008, 10:22am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/103 "2008-02-19T10:22:14Z")
> [@Unofficial 2008 VW Jetta TDI Pricing](https://forums.speedlife.net/t/unofficial-2008-vw-jetta-tdi-pricing/34997/10): > > Oh, I realize I’m just getting my own money back, at a much lower percentage than I paid, and it will do nothing to stimulate the economy. I just want to know what to expect for '08 taxes. Getting deductions correct is bad enough when you have to itemize for mortgage interest that changes each year, much less if I need to account for something new. i wasn’t talking about you, cupcake. Just some of the other more intellectually challenged members on this board. ---
**Author:** ![tjZ28](https://avatars.discourse-cdn.com/v4/letter/t/9de0a6/32.png) [@tjZ28](https://forums.speedlife.net/u/tjZ28)\ **Post date:** [February 19, 2008, 11:24am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/104 "2008-02-19T11:24:00Z")
> [@Lambos are hot...](https://forums.speedlife.net/t/lambos-are-hot/35002/3): > > so of course everyone on here makes over 3,000 a year. so most of us will be getting $600 per person? Not exactly. There’s a cap too. :doh: > [@Motion to Add Real estate and Housing forum](https://forums.speedlife.net/t/motion-to-add-real-estate-and-housing-forum/34975/26): > > Correct me if I’m wrong, but isn’t this an advance on a new 2008 credit, not an advance on the same amount that would have been calculated in 2007? As opposed to an advance that would require you to change your withholdings? So if you don’t qualify for the “advance” you may still receive the credit at the end of the tax year? -TJ ---
**Author:** ![whitey](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/whitey/32/5911_2.png) [@whitey](https://forums.speedlife.net/u/whitey)\ **Post date:** [February 19, 2008, 11:45am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/105 "2008-02-19T11:45:28Z")
The way i read it is that everyone will qualify for the advance. It will be 600 if your AGI is less then 75k. For those that are above 75K it will be less then 600 in some percentage format that I have not seen released. ---
**Author:** ![bics56](https://avatars.discourse-cdn.com/v4/letter/b/47e85d/32.png) [@bics56](https://forums.speedlife.net/u/bics56)\ **Post date:** [February 19, 2008, 11:51am UTC](https://forums.speedlife.net/t/your-800-1-600/194951/106 "2008-02-19T11:51:40Z")
> [@FS: 2003 Dodge SRT-4](https://forums.speedlife.net/t/fs-2003-dodge-srt-4/33605/34): > > The way i read it is that everyone will qualify for the advance. It will be 600 if your AGI is less then 75k. For those that are above 75K it will be less then 600 in some percentage format that I have not seen released. $50 less per $1,000 over the limit ---
**Author:** ![Jeff95TA](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jeff95ta/32/5935_2.png) [@Jeff95TA](https://forums.speedlife.net/u/Jeff95TA)\ **Post date:** [February 19, 2008, 12:08pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/107 "2008-02-19T12:08:50Z")
From a CNN article: [http://www.cnn.com/2008/POLITICS/02/08/economic.stimulus/](http://www.cnn.com/2008/POLITICS/02/08/economic.stimulus/) Article Correction An earlier version of this report incorrectly described the federal tax rebate as an advance on 2008 tax refunds. The rebate is an additional tax credit for 2008, and it will not be taxed. ---
**Author:** ![YellowZ](https://avatars.discourse-cdn.com/v4/letter/y/edb3f5/32.png) [@YellowZ](https://forums.speedlife.net/u/YellowZ)\ **Post date:** [February 19, 2008, 12:12pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/108 "2008-02-19T12:12:34Z")
> [@Cammed LS1 FS](https://forums.speedlife.net/t/cammed-ls1-fs/35008/2): > > $50 less per $1,000 over the limit Still not getting anything. Oh well, I will still continue to stimulate the economy the same way I was before the government decided on this dumb idea. ---
**Author:** ![YellowZ](https://avatars.discourse-cdn.com/v4/letter/y/edb3f5/32.png) [@YellowZ](https://forums.speedlife.net/u/YellowZ)\ **Post date:** [February 19, 2008, 12:22pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/109 "2008-02-19T12:22:35Z")
> [@sundays cruise for dave basil \*NOW WITH VIDEO\*](https://forums.speedlife.net/t/sundays-cruise-for-dave-basil-now-with-video/34130/80): > > mine is going towards vacation Remember, if you spend it on a vacation outside of the US, your not helping the economy. ---
**Author:** ![bics56](https://avatars.discourse-cdn.com/v4/letter/b/47e85d/32.png) [@bics56](https://forums.speedlife.net/u/bics56)\ **Post date:** [February 19, 2008, 12:24pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/110 "2008-02-19T12:24:43Z")
> [@my end of summer Pics \*56K no\*](https://forums.speedlife.net/t/my-end-of-summer-pics-56k-no/34776/34): > > Remember, if you spend it on a vacation outside of the US, your not helping the economy. Haha…well I am not sure of the details…but what if i book it through Apple???..haha…either way I am still going. ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [February 19, 2008, 1:07pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/111 "2008-02-19T13:07:10Z")
lol @ anyone thinking this will do a fucking thing for the economy. ---
**Author:** ![whitey](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/whitey/32/5911_2.png) [@whitey](https://forums.speedlife.net/u/whitey)\ **Post date:** [February 19, 2008, 1:20pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/112 "2008-02-19T13:20:51Z")
> [@Cammed LS1 FS](https://forums.speedlife.net/t/cammed-ls1-fs/35008/2): > > $50 less per $1,000 over the limit oh ok, where did you see that at… So anyone that makes 87k or more does not receive anything. ---
**Author:** ![bics56](https://avatars.discourse-cdn.com/v4/letter/b/47e85d/32.png) [@bics56](https://forums.speedlife.net/u/bics56)\ **Post date:** [February 19, 2008, 1:29pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/113 "2008-02-19T13:29:37Z")
> [@FS:1992 VW Corrado SLC](https://forums.speedlife.net/t/fs-1992-vw-corrado-slc/33183/38): > > oh ok, where did you see that at… So anyone that makes 87k or more does not receive anything. I read it somewhere…here is something I just dug up If you have kids you get an extra $300 per kid under 17 [http://crowley.house.gov/news/record.asp?id=1106](http://crowley.house.gov/news/record.asp?id=1106) > Q: Is there a maximum income limit to be eligible for rebates? > > A: The rebate checks are subject to be phased out for taxpayers with an Adjusted Gross Income (AGI) in excess of $75,000 (or $150,000 married filing jointly). The phase-out is a decrease in benefits equaling approximately $50 per $1,000 in income over the threshold limit. (See charts below) > > Phase-out Limits for Rebate Checks > > The rebate checks are subject to be phased out for taxpayers with an Adjusted Gross Income (AGI) in excess of $75,000 (or $150,000 married filing jointly). The phase-out is a decrease in benefits equaling approximately $50 per $1,000 in income over the threshold limit. > > How would the Phase-Out work in real world terms? > > SINGLE, NO CHILDREN (filing alone – no children) > > Adjusted Gross Income Rebate amount > $75,000 $600 > $76,000 $550 > $77,000 $500 > $78,000 $450 > $79,000 $400 > $80,000 $350 > $81,000 $300 > $82,000 $250 > $83,000 $200 > $84,000 $150 > $85,000 $100 > $86,000 $50 > $87,000 zero rebate ---
**Author:** ![foz](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/foz/32/6028_2.png) [@foz](https://forums.speedlife.net/u/foz)\ **Post date:** [February 19, 2008, 1:56pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/114 "2008-02-19T13:56:02Z")
the 2 kids will get a portion into their savings, another third into the house, and the rest into debt… If I calculate it right, we’re looking at 1800! ---
**Author:** ![JackdUp](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jackdup/32/6015_2.png) [@JackdUp](https://forums.speedlife.net/u/JackdUp)\ **Post date:** [February 19, 2008, 2:00pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/115 "2008-02-19T14:00:39Z")
Booo, I get nothing. Wait, what the hell am I complaining about. ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [February 19, 2008, 2:51pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/116 "2008-02-19T14:51:33Z")
> [@foz"](#): > > the 2 kids will get a portion into their savings, another third into the house, and the rest into debt… > > If I calculate it right, we’re looking at 1800! yea, I get 2100 back, I think. If I had a kid this year that was not on last year’s taxes, will i still get 300 for him? If not, I guess 1800 will be just fine. ---
**Author:** ![Hycomp](https://avatars.discourse-cdn.com/v4/letter/h/d6d6ee/32.png) [@Hycomp](https://forums.speedlife.net/u/Hycomp)\ **Post date:** [February 19, 2008, 3:20pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/117 "2008-02-19T15:20:03Z")
> [@Fake Id's ?](https://forums.speedlife.net/t/fake-ids/34955/47): > > yea, I get 2100 back, I think. > > If I had a kid this year that was not on last year’s taxes, will i still get 300 for him? If not, I guess 1800 will be just fine. From what I have read, if you had 2 kids listed on your 2007 return you would get the extra $300 a piece for them in the check in May/June (as the “refund” is estimated from the 2007 return). If you then have another kid in 2008 which would then cause you to have 3 listed on your 2008 return you will get the extra $300 credit at that point (as technically it is a credit of sorts for 2008 taxes). ---
**Author:** ![beat90tsi](https://avatars.discourse-cdn.com/v4/letter/b/43a26b/32.png) [@beat90tsi](https://forums.speedlife.net/u/beat90tsi)\ **Post date:** [February 19, 2008, 4:29pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/118 "2008-02-19T16:29:40Z")
> [@FS:1992 VW Corrado SLC](https://forums.speedlife.net/t/fs-1992-vw-corrado-slc/33183/38): > > oh ok, where did you see that at… So anyone that makes 87k or more does not receive anything. Yeah…pretty awesome eh? The people that pay the most in won’t get anything. I’m under the reduction range, so I’ll get the full amount for a single person. ---
**Author:** ![Darkstar](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@Darkstar](https://forums.speedlife.net/u/Darkstar)\ **Post date:** [February 19, 2008, 4:54pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/119 "2008-02-19T16:54:10Z")
lol @ Congress playing Robin Hood. lol @ Congress just making things worse. lol @ our country going to shit. lol @ no one caring. ---
**Author:** ![kilmer420](https://avatars.discourse-cdn.com/v4/letter/k/d6d6ee/32.png) [@kilmer420](https://forums.speedlife.net/u/kilmer420)\ **Post date:** [February 19, 2008, 10:25pm UTC](https://forums.speedlife.net/t/your-800-1-600/194951/120 "2008-02-19T22:25:02Z")
> [@Darkstar"](#): > > lol @ Congress playing Robin Hood. lol @ Congress just making things worse. lol @ our country going to shit. lol @ no one caring. Donate yours to Ron Paul then [Previous page](https://forums.speedlife.net/t/your-800-1-600/194951.md?page=5) [Next page](https://forums.speedlife.net/t/your-800-1-600/194951.md?page=7)