This thread is not intended to politically debate the good/bad about this new 'Windfall'.

But it looks like we are getting an additional $1,200 'windfall' that we can budget towards our home theater

We were thinking of the Mits HC 4900 mainly due to the price point.

with the Onkyo TX-SR605 again price point, with all the features we want.

and a DIY Wilson Art DW 5x10 sheet of Laminate for the screen. (I'm frugal, why pay all of that money when a DIY costs about 10-25% of a 'real screen')

and ?? Speakers ?? (Havent picked these out)

Would you take that $1,200 and invest in better.. Audio?? Video?? Screen??
or Toys (Game system - PS3 for Blu-Ray, or Do it all remote control)

Or just buy 1 single 'For the Owner of the House,' ultimate power recliner with butt kickers, that also will serve your beers and and opens the bathroom door for you? :D :p

What would you or are you going to do (HT Wise) with an unexpected windfall of $1200 added to your budget during the design stage?

A 6'x6'x6' concrete pour that should of been done last year.

Boat payment.

First off, 'invest' is not a word I would associate with buying HT equipment...

I'm still in the planning/building stage of our (low budget) home theater room, if I suddenly had a free $1200 to add to the budget I think I'd add a nice recliner. It's one of those little luxuries that I cannot justify, but would sure like to have!

More realistically I'd probably funnel the money into the vacation fund and go skiing. Even more realistically, I'd sign the check over to SWMBO and never see a cent of it...

Boat payment.


*OUCH* :( My 23 Foot Trophy has been 'High and Dry' now for 3 seasons, cost of Fuel, and Marina Fees TRIPLED! And just think, I only have 8 more YEARS of payments on it! :eek:

*Trading 2359 Trophy for A/V Gear!* :D

Ha ha, the bulb in my old PJ is shot so I ordered an Epson HC720 with the rebate, spare bulb and free mount from Visual Apex. (I'm a single filer so only $600 for me)

Of course that also meant a PS3 for blu rays...an Onkyo 605...new screen...2 new speakers for full 7.1...cabling...electrical...7 new BDs/HD DVDs from Amazon for "evaluation purposes"...basically a total overhaul of my gear sans new speakers. I am a great American...I'm doing all this for my country!!!
:)

Windfall?

Folks are woefully ignorant of what tax dollars really are. Taxes are YOUR MONEY!

I paid a little over $9K in taxes last year. That $1,200.00 I will receive in May is MY MONEY.

If you didn't pay taxes last year, that money you get in May is MY MONEY too!

Enjoy...

:)

Pay a bill off and save the rest....I'm not into spending money just for the sake of spending money.

Windfall?

Folks are woefully ignorant of what tax dollars really are. Taxes are YOUR MONEY!

I paid a little over $9K in taxes last year. That $1,200.00 I will receive in May is MY MONEY.

If you didn't pay taxes last year, that money you get in May is MY MONEY too!

Enjoy...

:)

It's definitely my money, but it's money I never expected to see again. So that's what makes it a windfall. Now my tax refund, that's MY money that's been on interest free loan to the gov't, and I'm happy to get it back as expected.

I am going to pay off HT equipment debt that I already have, which is is lumped into Christmas bills, which is lumped into last years vacation costs, which is lumped in with basement refinishing costs...

J

This thread is not intended to politically debate the good/bad about this new 'Windfall'.

Even w/ this as the 1st line of my thread I feel like I was just Hijacked :p

Windfall = Unexpected, unplanned for, unbudgeted fundage, cashola, greenback, and / or coinage.

I'm going for either a new sub or back surrounds.

*OUCH* :( My 23 Foot Trophy has been 'High and Dry' now for 3 seasons, cost of Fuel, and Marina Fees TRIPLED! And just think, I only have 8 more YEARS of payments on it! :eek:

*Trading 2359 Trophy for A/V Gear!* :D

Not to derail the thread, but I am not going to complain that the fed.gov is going to give me some of my money early.

I just put the lift in, bought a HC4900 and Sony Blu Ray. So, the bills next month are not going to be pretty.

http://photos.ar15.com/ImageGallery/Attachments/DownloadAttach.asp?iImageUnq=56741

buy a big gun and lots of ammo, ur gonna need it when the ****** in the whitehouse declares martial law.

buy a big gun and lots of ammo, ur gonna need it when the ****** in the whitehouse declares martial law.

Nice...:):):)

And just think, I only have 8 more YEARS of payments on it! :eek:


Rett,
You know the sang?...The best 2 days of owning a boat are the day you buy it and the day you sell it..lol

Man, I need to start watching the news more. Were getting $600 checks in the mail?

A Blu player, and lots of HD DVDs and Blu Discs...maybe a A35 if there is money left over. Then I sell my A30, and get even more movies, yee-haa!

Add another for a HC4900 :D

Amsterdam trip. Red light district specifically

I need some extra scratch for my other favorite head ach

this is my 1976 shovel head 93 inch stroker after a full frame up build.
http://img403.imageshack.us/img403/9551/197693ci800x598cr4.jpg (http://imageshack.us)


then I installing a barnnet race clutch.

this is after installation when a defective clutch plate fell apart and clogged my wet primary return.
Eventually filling up outer primary with every drop of oil resulting in a blown motor.
That's my son holding onto the S&S rods.

http://img403.imageshack.us/img403/3092/gunvtwin800x598uc9.jpg (http://imageshack.us)
cheers

Murph:)

The red light district sound like more fun for the short term. But once your finished that's it just memories. And if you get any long term presents from there, it will require a trip to the doctor:eek:

Have fun and play safe.

I may upgrade the weakest link my HT and that is the SW. I will be eyeing SVS or HSU really soon I hope.

Spend the money.....save the economy....or the gov't will spend it for you. I have never seen so much BS in a gov't yet.

Save it to pay for the tax increase when the democrats get into office.

Save it to pay for the tax increase when the democrats get into office.

yaa its to bad we couldnt have Bush in office for another 8 years. Darn it :rolleyes:


Murph

I wasn't going there but surely the pendulum will soon swing the other way.

Save it to pay for the tax increase when the democrats get into office.

I'm sure glad I'm not in Warren Buffet's tax bracket.

Save it to pay for the tax increase when the democrats get into office.

Classic.

I thought I might use what I get to buy a poke in the eye with a sharp stick. You see, the rebate is only available to those who have earned income. If you have income from dividends, interest, and capital gains, that doesn't count. Volunteer work? That doesn't count either. So if you have worked your arse off so you can retire and live off past earnings and investments, and spend full time working for free (in a non-profit community service organization) to help make this earth a better place, you get Zip. Zero. Nada.

But the person who works even part time, has 5 kids and a wife will get $2,700. Not to mention the additional perks that Uncle Sam gives to those who have more kids than sense. Last year I made the mistake of helping out a young couple file their taxes. When I realized that they were going to get back almost $3,000 than they paid in, I stopped helping others with their taxes. Just too discouraging.

<OK, rant over. Sorry to those with huge families I may have offended>:o

Windfall?

Folks are woefully ignorant of what tax dollars really are. Taxes are YOUR MONEY!

I paid a little over $9K in taxes last year. That $1,200.00 I will receive in May is MY MONEY.

If you didn't pay taxes last year, that money you get in May is MY MONEY too!

Enjoy...

:)

I agree- If you didnt pay into the system, I dont think its right that you get and extra $600.00

maybe if I really get the $600 I will find another place for my projector- private joke for reconlabteck

John the bulbman

My first thought was to buy an airplane ticket to China to see where my job went. After thinking that would be too depressing, I just decided I would use it to buy heating oil for next winter. How ironic, huh? The government gives me some of my money and I send it to the Middle East.

One thing I know for certain is that I will not be spending it on AV equipment.

Doug

The government gives me some of my money and I send it to the Middle East.


Doug

your govt borrowed the money from china, to give to you, to send to the saudi's, so they can teach their children how evil u are, and blow u to smithereens.

Please keep in mind that the last time we had a 'tax break' it was actually a short term tax loan. The Government doesn't 'give' money, it 'steals' money. The last time we had a 'tax break' (which was also an election year), the following year we had to pay the money back when we filed our taxes. The same will be for this 'tax break'. For example, if you would be expecting $1,000 in tax returns for your 2008 taxes and you receive $1,200 in 'tax breaks' this year for being married with no kids, then you will end up having to pay the government $200.00 when you file your 2008 taxes. Just keep in mind that this is a short term loan, not 'free' money.

I am still quite tempted to go out and spend my 'loan' money on a pj anyhow :p

Windfall?

Folks are woefully ignorant of what tax dollars really are. Taxes are YOUR MONEY!

I paid a little over $9K in taxes last year. That $1,200.00 I will receive in May is MY MONEY.

If you didn't pay taxes last year, that money you get in May is MY MONEY too!

Enjoy...

:)

I wish I had only paid 9k. Hell 9K is about how much of my money that I will get back.

I wish I had only paid 9k. Hell 9K is about how much of my money that I will get back.

Ditto. I also wish I didn't have to apologize to my future children 30 years from now when the country is bankrupted by the absurd short term fixes, that exacerbate long term problems due to the moronic financial decisions made by our government over the last 25 years.

Please keep in mind that the last time we had a 'tax break' it was actually a short term tax loan. The Government doesn't 'give' money, it 'steals' money. The last time we had a 'tax break' (which was also an election year), the following year we had to pay the money back when we filed our taxes. The same will be for this 'tax break'. For example, if you would be expecting $1,000 in tax returns for your 2008 taxes and you receive $1,200 in 'tax breaks' this year for being married with no kids, then you will end up having to pay the government $200.00 when you file your 2008 taxes. Just keep in mind that this is a short term loan, not 'free' money.

I am still quite tempted to go out and spend my 'loan' money on a pj anyhow :p

You know I was thinking the same thing, but I cannot find any documentation on it. Does anyone know if we will have to pay it back?

I just got this in an e-mail today. Don't know if it true or not.

Subject: IRS tax rebate amount$

FYI,

The check is in the mail

Last 2 digits of your SSN Receive your check by week of:

1 00 - 09 July 23

2 10 - 19 July 30

3 20 - 29 August 6

4 30 - 39 August 13

5 40 - 49 August 20

6 50 - 59 August 27

7 60 - 69 Sept. 3

8 70 - 79 Sept. 10

9 80 - 89 Sept. 17

10 90 - 99 Sept. 24

For married taxpayers who filed a joint return, the first Social Security Number on the return determines the mailing date.

First. I'm going to grab a few more kids and claim them as my own. I figure 7 more would give me 10 in total, at $300 a pop per kid, that's a nice little extra. ;)

I'm either going to buy some tile to redo our bathroom floor, or take some of it and finally upgrade my 4805 projector and go at least 720p.

Let's all be totally honest here, we will spend this money on whatever our wives tell us to spend it on. And mine wants a new flatscreen, she said so,,, honest.

Let's all be totally honest here, we will spend this money on whatever our wives tell us to spend it on. And mine wants a new flatscreen, she said so,,, honest.

Yeah...... you're right.... :o

But....... if I don't explain the tax rebate to her and spend the money first....... :D

Windfall?

Folks are woefully ignorant of what tax dollars really are. Taxes are YOUR MONEY!

I paid a little over $9K in taxes last year. That $1,200.00 I will receive in May is MY MONEY.

If you didn't pay taxes last year, that money you get in May is MY MONEY too!

Enjoy...

:)

If you want to split hairs, the windfall is NOT your money. It is China's money. Your money went to China to pay back loans plus interest on the deficit spending of previous administrations.

If you want to split hairs, the windfall is NOT your money. It is China's money. Your money went to China to pay back loans plus interest on the deficit spending of previous administrations.Actually, my money went to pay for the vote buying program otherwise known as Social Security. The sooner it's dead, the better.

I went to the government website and read the bill: If you earned at least $3,000, you will get $300 if you paid 0 to $300 in tax and $600 if you paid $301 to over $600 in tax. You also get the same for a child 17 or under. (Double that if filing jointly.)

It will be deducted from next year's refund if you get one as I understand (haven't verified this), so make sure your next year deductions force you to pay in tax or zero tax. Disclaimer, this is complete and under opinion--go do your own research...:p

Oh yah and if you make more than $75k or $150k jointly, you get a lot less, maybe 0!:(

Bob

I think I'm using it towards a new projector. Just need to convince the wife.

Either way, I AM spending it.

Dan

I went to the government website and read the bill: If you earned at least $3,000, you will get $300 if you paid 0 to $300 in tax and $600 if you paid $301 to over $600 in tax. You also get the same for a child 17 or under. (Double that if filing jointly.)

It will be deducted from next year's refund if you get one as I understand (haven't verified this), so make sure your next year deductions force you to pay in tax or zero tax. Disclaimer, this is complete and under opinion--go do your own research...:p

Oh yah and if you make more than $75k or $150k jointly, you get a lot less, maybe 0!:(

Bob

It does come out of next years return, but next years taxes will be less in the same amount as rebate check, so it is a wash.

Dan

Save it to pay for the tax increase when the democrats get into office.

Good idea and so right on... Going the boring route, paying bills with "my" money I am getting back... If I was to spend it... would for sure be on a better Projector to go with my Blu ray player and newly aquired Hi Def Receiver.:D

Looks like that money is really going to help China's economy with all the clothes, cars and electrical equipment we purchase. Way to go Bushy!!

Looks like that money is really going to help China's economy with all the clothes, cars and electrical equipment we purchase. Way to go Bushy!!

What are you worried about China for?

The US does twice as much trade with Canada and 1.5 times as much trade with Mexico.

You have some problem with the Chinese?

You would probably sound smarter if you did some homework first and not just read PAC talking points.

Now go buy a new NAFTA car.

"1976 shovel head "

Hmmm, potatoe, potatoe, potatoe.
nuthin sounds like a shovel.

potatoe, potatoe, potatoe..........
Bike week starts friday.
:cool:

What are you worried about China for?

The US does twice as much trade with Canada and 1.5 times as much trade with Mexico.

You have some problem with the Chinese?

You would probably sound smarter if you did some homework first and not just read PAC talking points.

Now go buy a new NAFTA car.

I'm not sure that this is right. I think everyone should have a problem with the Chinese. The irony is that when we buy the 30 dollar DVD player we eventually end up paying more in the long run. If you want to know why fuel cost are so high it is because of our never ending thirst for cheap foriegn goods. This country is in trouble, I don't think that it's just a talking point. We can't all be in the service industry. We have to produce something to have a sound economy.

Year To Date
Deficit in Deficit in
Millions Millions
Country Name of U.S. $ of U.S. $

China -18,791.97 -256,269.48
Japan -6,592.92 -82,798.67
Mexico -6,510.78 -74,257.76
Canada -4,655.91 -64,673.72
Federal Republic of Germany -3,873.63 -44,712.47
Venezuela -3,650.68 -29,697.36
Nigeria -3,430.87 -29,983.56
Saudi Arabia -2,703.89 -25,227.20
Malaysia -1,975.91 -21,110.15
Italy -1,675.47 -20,900.56

I'm not sure that this is right. I think everyone should have a problem with the Chinese. The irony is that when we buy the 30 dollar DVD player we eventually end up paying more in the long run. If you want to know why fuel cost are so high it is because of our never ending thirst for cheap foriegn goods. This country is in trouble, I don't think that it's just a talking point. We can't all be in the service industry. We have to produce something to have a sound economy.



Deficit is not the same thing as total trade. Deficit is a highly abused number because the whole picture is not shown on how pricing, tarrifs, trade imbalance, international investment, and business development all work hand in hand. It's a difference in philosophy between Nationalist Isolationists and global economy.

Canada is #1 then Mexico, then China in total trade dollars.

Fuel costs are not high, just higher than what spend crazy Americans want it to be. Adjust the price of gas from the 70's and 80's in those dollars to today's dollars and the price of gas is about the same give or take a few cents. Consumption is way up though which makes a bigger dent in your budget. Since oil WILL run out eventually, we need to be realistic about its use and cost.

The US is not going back to manufacturing as a core foundation of the economy and that's because of the greed of our youth fueled by the previous generation's desire to have and have more. You will not get today's youth to work in manufacturing when they grow up on 8 hours a day of tv and video games and govt schooling. High quality well designed and constructed merchandise that costs more but lasts well is no longer prized or even understood by today's consumers.

Any change will take at least a generation to correct and will require dedicated, consistent, educated, self-sacrificing parents to raise that generation. Instead, I hear many parents gaffing that responsibility and declare it is the school's job to raise their children.

When you hold federal reserve notes in hand, spend them, they will be taken back and in many ways to inefficiently do all those things people used to do for each other.

Deficit is not the same thing as total trade. Deficit is a highly abused number because the whole picture is not shown on how pricing, tarrifs, trade imbalance, international investment, and business development all work hand in hand. It's a difference in philosophy between Nationalist Isolationists and global economy.

Canada is #1 then Mexico, then China in total trade dollars.

Fuel costs are not high, just higher than what spend crazy Americans want it to be. Adjust the price of gas from the 70's and 80's in those dollars to today's dollars and the price of gas is about the same give or take a few cents. Consumption is way up though which makes a bigger dent in your budget. Since oil WILL run out eventually, we need to be realistic about its use and cost.

The US is not going back to manufacturing as a core foundation of the economy and that's because of the greed of our youth fueled by the previous generation's desire to have and have more. You will not get today's youth to work in manufacturing when they grow up on 8 hours a day of tv and video games and govt schooling. High quality well designed and constructed merchandise that costs more but lasts well is no longer prized or even understood by today's consumers.

Any change will take at least a generation to correct and will require dedicated, consistent, educated, self-sacrificing parents to raise that generation. Instead, I hear many parents gaffing that responsibility and declare it is the school's job to raise their children.

When you hold federal reserve notes in hand, spend them, they will be taken back and in many ways to inefficiently do all those things people used to do for each other.

When I go into Home Depot, Lowes, Walmart, Circuit City, etc and look at the items or the box that the items came in it says "made in China" not "made in Canada" so I am not sure what you mean by total trade. I work in manufacturing. Our biggest competitors are not Canadians. What we have to realize is that when energy costs increase the last thing to "adjust" to these raising costs are our salaries if at all. Therefore our paychecks buy less and less as a result of foriegn demand for energy. Energy costs determine the cost of all other consumable goods (food, shelter, clothing). Therefore these inexpensive foreign goods that American are buying are not the great deal that we think they are. Americans are just to stupid to see the long term outcome.

Let's all be totally honest here, we will spend this money on whatever our wives tell us to spend it on. And mine wants a new flatscreen, she said so,,, honest.

is your wife named bob?

It surprises me how many people don't understand how these rebate checks work, or how they worked last time.

Due to this bill, the government just gave practically everyone a $600 break on this years taxes, per adult and $300 per child. Instead of you getting that money in 2009 when you file your taxes, they are giving it to you now.

This is money that you will NOT have to pay back

Dan

is your wife named bob?

Ummm, NO, but she does want a flatscreen. Just not as much as I do.

And to pipe in on the back and forth about trade and energy cost. You are both right and you are both wrong. Complaining and figerpointing has not fixed a problem in this country in 200 years, democrats and republicans are the same as north and south. We are still a country divided, we just stopped shooting each other. The only way this country will ever be the shining beacon of hope it once was is to get back to the foundations it was built on. I'm by no means trying to start a political debate here, but when we elect an official that will not salute our flag or pledge his allegiance to that flag, then we have missed it all together, regardless of what we think our rights are. If we can not stand on the foundation that made us the greatest country in the world, then we will fail. We are a greedy, spoiled and undisciplined. We have no clue how good we have it and all we do is complain and want more. This whole "what about me" attitude is killing the selfless fibers our great flag is built with. Just a thought from the Bat Man.

Wow,
Don't I wish I made too little amount of money to actually qualify for this "rebate". Here in Massachusetts, having a combined family income over the ~$160,000 where this "wonderful rebate" ends is usually just enough to get by with the high cost of housing, etc.

So, for me, no rebate at all....

Reedl

Please keep in mind that the last time we had a 'tax break' it was actually a short term tax loan. The Government doesn't 'give' money, it 'steals' money. The last time we had a 'tax break' (which was also an election year), the following year we had to pay the money back when we filed our taxes. The same will be for this 'tax break'. For example, if you would be expecting $1,000 in tax returns for your 2008 taxes and you receive $1,200 in 'tax breaks' this year for being married with no kids, then you will end up having to pay the government $200.00 when you file your 2008 taxes. Just keep in mind that this is a short term loan, not 'free' money.

I am still quite tempted to go out and spend my 'loan' money on a pj anyhow :p

I don't think thats correct.

http://www.irs.gov/newsroom/article/0,,id=179181,00.html

Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. In the event you do not qualify for the full amount this year but you do next year, you will need to have the letter as a record of the amount you previously received.
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

time to buy a PS3...

I don't think thats correct.

http://www.irs.gov/newsroom/article/0,,id=179181,00.html

Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. In the event you do not qualify for the full amount this year but you do next year, you will need to have the letter as a record of the amount you previously received.
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

time to buy a PS3...

Correct, but to my understanding the amount will be deducted from the refund we receive in 2009...it's esentially an interest free loan...

Oh sheesh, how do I lock/kill/delete my own thread? I've created a monster here! (sorry to all the folks out there, it wasnt ment to be political/trade/china/whatever thread.)

I just wanted to see where ya all would put a couple of hundred bucks (HT wise) that was Unexpected.

*Crawling back under my rock*

But am considering a PS3 myself ;)

Correct, but to my understanding the amount will be deducted from the refund we receive in 2009...it's esentially an interest free loan...


that is incorrect.

your tax liability for 2008 will not be affected by the stimulus checks.

Your tax liability for 2008 will be based on your income in 08 and your estimated tax payments. The stimulus checks have ZERO effect on your 08 taxes.

exa. Tom is single, he did not file in 2007. He does not get a stimulus check. His refund is $1000.

Tom is single, he did file in 2007. He does get a stimulas check, HIS REFUND WILL STILL BE $1000.

There is one exception, which may be why you think this is just a 'loan'. If for some reason the feds miscalculate the amount of your stimulus check(or you make a mistake on your 2007 return, extra dependent, wrong birthdate,ect), they will ask for the difference back, or pay you back the difference. Basically its just a short reconcilation on your 2008 tax return.

exa. Tom is single, he did file in 2007. His stimulus check is $900. Governement make a mistake by adding a dependent. Tom will have to pay back the extra $300.

If you live in Michigan, the check will go for food...The last one out of GM, Ford or Chrysler, please turn out the lights...

Save it to pay for the tax increase when the democrats get into office.

It's funny you say that when the Dems were the ones fighting to give checks to the ones who arguably need it the most.