Recently, just like millions of other Americans, I have been looking forward to receiving my economic stimulus check (which is probably the stupidest thing I have ever heard of...as if giving Americans a check is going to stimulate the economy in any meaningful way). Just think of all the great things I could do with $1200!! Then, this morning, as I was checking the IRS website to see when I could count on banking said cash, my excitement came to a screeching halt.
It turns out that I don't qualify for $1200 even though it has been widely publicized that all married couples making more than $4,000 are eligible. WRONG. According to the website, Husband and I are only entitled to $600. Why is that? Well, because we have no federal income tax liability. That's right! All of those of us who have constantly strived to make sure we are in good standing with the US government are going to be penalized for our honesty, prompt payments, and lower income.
The only people who will receive the full $1200 (remember that I am speaking of married couples with no children) are those who owe $1200 or more to the IRS. And, it also appears that those with children, can only claim $300/child for up to TWO children (so what are the other kids? Trash?).
What bugs me even more is that people who only work two weeks every year still get some sort of refund.
While I realize that I get the $600 free and clear (at least I think it's free and clear...I'm still a little hazy as to how Congress plans to fund it...and I also hate that Nancy-Pancy Pelosi, who is quite possibly the most evil woman in the world, gets all of the political credit for the good parts of it), it kind of seems wimpy next to the $1200 I was planning on. I guess that's why they say you should never count your chickens before they hatch.
5 comments:
Hey! When do we get that money, anyways?!? I've been looking for that check... I wonder how much ours will be. With my luck, we'll probably get a bill for $1200 rather than a check.
It depends on the last two numbers of your social security number. And, it also depends on whether or not you get direct deposit. 00-20 is May 2, 21-75 is May 9, and 76-99 is May 16. If you don't get direct deposit, you could wait until the beginning of July!!
And, from my calculations, you should get a $900 check (thanks to Gabi for the extra $300. Perhaps Husband and I could borrow her until the beginning of May??).
So, if we get it, will they care if we spend it on the British economy? I hope not because we are going to go do some sight seeing with it! Maybe Disneyland Paris! That sounds good to me! Hope they don't mind us spending it in France too!
Here's the scoop, they are paying for this from your refunds next year. It's like an advance on what you are already going to get next year so next year's refund will be markedly smaller. They sure make it sound good, though, don't they? And Pelosi scares the crap out of me, too. I wouldn't want to cross that woman.
Sooo...what happens if your tax refund for next year is less than $600? You have to pay the government back the difference?? This is getting more and more ridiculous everytime I hear anything about it!
And Liz, I also had dreams of spending my cash on an economy outside the United States. I was thinking Ireland - or rather DREAMING Ireland since I wouldn't really be able to do it. Sometimes I wish I lived in England, too...
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