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Jeremy's Financial Planning Blog

By Jeremy Vohwinkle, About.com Guide to Financial Planning

What Would You Do With the Proposed Tax Rebate?

Sunday January 27, 2008
There has been a lot of news this week surrounding the President's proposed economic stimulus package which includes tax rebates to consumers. The expected rebate is $600 for individuals and up to $1,200 for married couples. An additional $300 is expected for each child as well. This would be available to individual tax filers that earned under $75,000, and joint filers who earned less than $150,000.

The purpose of this rebate is to help get money into the hands of consumers, who will in turn put this money back into the economy. While this could provide a short-term help to the economy, how many people will be actively spending this money? So, I have put this poll up to see what you plan on doing with the money. Feel free to expand on your choice by leaving a comment or discussing it in this forum topic.

Comments

January 28, 2008 at 9:22 am
(1) Christian says:

I intend on putting any rebate check into a high interest on-line savings account.

January 28, 2008 at 1:06 pm
(2) L.Shadel says:

I plan on taking a vacation. I haven’t had one in years. Thank you Mr. Bush.

January 28, 2008 at 1:41 pm
(3) Eve says:

I plan to pay off my credit cards

January 28, 2008 at 11:35 pm
(4) Mary says:

I plan to pay off some debt. What erks me about this stimulus package, is the fact that the consensus is that those who need the money just to stay afloat are the one’s they think will run right out and spend it!

January 29, 2008 at 3:00 pm
(5) Tony says:

I am going to apply it to my auto loan – damnit. Wanted the 40sumthin inch LCD display….

January 29, 2008 at 4:15 pm
(6) tia says:

more of a question…does the $300 per child only apply to couples or individuals also…i am a single parent & curious about this…other than that…$ going towards bills..

January 30, 2008 at 1:19 pm
(7) Lee says:

The last time the president did this there wasn’t much stimulus to the economy. I say keep my money and use it for a REAL national disaster – one like Hurricane Katrina

February 12, 2008 at 9:42 am
(8) Michelle says:

I say save it, we probably will be paying it back next year.

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