rebates of at least $300 for each person

Deal for economic rescue package closer


"WASHINGTON - House Democratic and Republican leaders are looking for
imminent agreement with the White House on an emergency package to jolt
the economy out of its slump after negotiators on all sides made
significant concessions at a late-night bargaining session.

House Speaker Nancy Pelosi
agreed to drop increases in food stamp and unemployment benefits during
the Wednesday meeting in exchange for gaining a rebates of at least
$300 for each person earning a paycheck, including low-income earners who make too little to pay income taxes.

Families with children would receive an additional $300 per child,
subject to an overall cap of perhaps $1,200, according to a senior
House aide who outlined the deal on condition of anonymity in advance
of formal adoption of the whole package.

Pelosi, D-Calif., and House Minority Leader John Boehner,
R-Ohio, had yet to reach agreement on a package of tax breaks for
businesses after estimates showed a tentative business tax agreement
could exceed $70 billion, far more than had been expected, the aide and
a Democratic lobbyist said."

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=A0...

No votes yet

Does the families with children apply to single parent families or just to two parent families?

Will $300 fix things? Nope and neither will $600, but if they're giving it away I'll take some and if you're getting paid for your kid then I'll be wanting some for mine too :Þ

What a worthless deal this is. The rebates just cover the fact they're giving $70 billion MORE in tax cuts to big business. No extension/increase of unemployment and food stamps. The poor take it up the a** once again. If the economy is great, give tax cuts to the rich. If the economy sucks, give tax cuts to the rich. $300 won't buy anybody out of anything.

While all children are dependents not all dependents are children. I claim my Mother as a dependent because I provide for over 50% of her living expenses. Would I qualify for the extra $300.00? Nope because no one has ever heard of a 77 year old child.

If man has no tea in him, he is incapable of understanding truth. ~Japanese Proverb

no one has ever heard of a 77 year old child.

McCaskey?

Mad Jack
Mad Jack's Shack

LOL

I SAW THAT....

I'm still puzzled as to how a "rebate" applies to someone who didn't pay anything in to begin with?

(Its not that I have a problem with giving a boost to low-income people, I suppose...its just that the term "rebate" seems an odd thing to label it.)

sarah,

The $300 is just a bribe to get the $70 billion in tax cuts approved by Congress. You can call it a rebate, a refund, or "Christmas in January". It's just meant to distract everyone from what they're really doing. Based on the media coverage, it has worked very well.

Bribe or not I'm just glad to see both sides of Congress working together to do something. A good plan instituted immediately is always better than a great plan that comes too late.

MikeyA

MikeyA

If it was a good plan, why do they have to throw money at us to cover what they're really up to? It's a waste of money that this country doesn't have to give businesses more tax breaks that we can't afford. I love how people are bickering over who is entitled to a pitiful $300 while the coporatocracy laughs all the way to the bank with $70 billion.

Great point Craig. Another thing to ask is why do some people argue that $300 rebates for some won't stimulate the economy, at the same time arguing that tax breaks for others DO stimulate the economy?

Well I have to admit I've only read a few articles on it in the Det. Free Press and haven't dealt that closely into it but I have not seen much about tax breaks to corporations.

If that is the case then I question the media doing it's responsibility to properly inform us.

MikeyA

MikeyA

How about elimianting the tax a U.S. global company has to pay on products made and sold oversees. So if a U.S. company opens a plant in China to manufacture goods sold to China, how is that fair to pay U.S. tax on oversee profits.

While you are at it eliminate the double tax on dividends, death tax, and AMT.

When you eliminate the crap that makes our businesses uncompetitive with global competition, then you can complain about corporate tax rebates.

I wouldn't worry about our corporations being uncompetitive in the global market because of taxes. Although the "official" corporate tax rate in the US is one of the highest among industrialized countries, after tax breaks and loopholes, corporate tax revenues in the US as a percent of GDP is actually LOWER than Europe or Asia.

I wonder what our Gov. spending is as percent of GDP when compared to Europe or Asia. Is it a much higher percentage?

Business creates wealth, Government transfers it.

Stimulate the economy by consumers spending is the foundation of the plan.
I plan on spending the rebate, when it comes in summer, on bills that are behind.

I asked this question on another thread, but it seems more appropriate to ask it on this one.

I thought economic stimulation comes from buying new products. How will paying off personal debt (like I plan on doing with any "rebate" I get) help stimulate the economy?

Perhaps the credit card / banking companies will use your cash inflows to spur others to go into debt, i.e. 6 months interest free loans, 20,000 airline miles, etc...

Once again, Democrats giving welfare to corporations and pointing fingers about "tax cuts for the rich".

Why are Democrats in bed with Big Business? Why did Democrats force people to sell their houses just so that some big foreign-owned corporation could build a new Jeep factory?

Don't blame me,
I didn't vote for a
socialist.

GREAT Screen Name!!! :^D

_________________
"They keep talking about drafting a constitution for Iraq.Why don't we give them ours? It was written by a lot of really smart guys, and we're not using it any more".

-------------------------------------------------------------------------

'I used to have compassion, but they taxed it and legislated it out of existence.'

"Why did Democrats force people to sell their houses just so that some big foreign-owned corporation could build a new Jeep factory?"
So, Toledo could retain good paying jobs and rely on the auto industry.
But now, we can see what was not seen then or at least not recognized, the down turn in the auto industry.
Another question we might pose, is why does the leadership have such tunnel vision or lack of long term planning.
But Chrysler is now back in the hands of an investor group in the U.S. but the foreign involvement is still there.

The plan revolves around us being given back some of taxes that have been withheld and we are now to help stimulate the economy by spending our rebates on items.
Ironically, I saw a PSA for Feed The Pig, http://www.feedthepig.org/, which encourages us to save at a time when the leadership wants us to spend more to help the economy
Spend or save.....spend and help the economy or save and help ourselves

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