What I Learned Today - $600 for you to jumpstart the economy!!!

25th January 2008

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$600 for you to jumpstart the economy!!!

There’s a new plan in town - a stimulus package that will give $100B in tax credits for an estimated 117 million families by Spring. It awaits the House’s approval in early February, but once passed you could be rolling in the dough. Here’s how..

You’re single, earn less than $75,000 and pay at least $300 in taxes, you’ll get a $600 rebate check. (+ $300 per kid)
You’re married, together earn less than $150,000 and pay at least $600 in taxes, you’ll get a $1200 rebate check. (+ $300 per kid)
You’re single, earn between $75,000 and $87,000, you’ll get a rebate check for $600 - $5*[(your income - $75,000)/$100]. That is, for every $100 over the $75k threshold, your credit drops by $5.
You’re married, together earn between $150,000 and $174,000, you’ll get a rebate check for $1,200 - $5*[(your joint income - $150,000)/$100]. That is, for every $100 over the $150k threshold, your credit drops by $5.
Basically, if you make a lot of money and are sans child you get nothing.

And now we wait.

Tagged: economics