What do you plan on doing with your tax rebate?

[orionburn]

Got to thinking about this from CWO's thread about the price of bikes going up as of late. Saw the notice from the IRS the other day in the mail about the tax rebate checks getting mailed out soon. Got me wondering what people are planning on doing with it.

Saving it? Paying off bills? New toys for the bike?? 

I figure by the time the checks go out my only real debt that I'll have will be the loan on the Bandit. Been wanting to get a new exhaust for it so kicking the idea around about doing that. Maybe a few other goodies. Course the girlfriend may have a different opinion on that...lol

[Sven]

This is the dumbest boondoggle from Congress and Bush II in a long time.  First, any one person may or may not get a refund.  (And it is not a tax refund, even though you have to file your taxes to get the "rebate".)  Second, there's been so much publicity about it, but depending on whether you have kids or your income, you may not get much of a rebate.  A lot of people are gonna been steamed when they get much less than the $600 that has been widely publicized.  And finally, what the IRS is spending to publicize, process, and issue these rebates will cost almost as much as the value of the rebates...meaning the nationla debt will just go up that much more.

But that's not what you asked.  I don't think I'll be getting much, based on my income and not having kids.  And I think most people will be putting what they do get towards existing debt, versus going out and "stimulating the economy".  So what will I be doing with my check?  It will probably get lost in the shuffle of the normal rounds of grabbing a meal while out and about, buying the routine staples at Target/Costco, etc.  Hardly the "economic stimulus" our "leaders" envisioned.

I suspect you were hoping to start a cheerier discussion than this, and I won't criticize those who have more exciting plans for their refunds.

[PitterB4]

Yeah Sven - Although I don't necessarily see it as stupid, I agree that it isn't going to have the impact some expect.  The money is going to the lower and middle classes who are by all accounts debt-ridden.  If they're smart, they'll put it all towards that debt (that's my plan).  Why not give some "play money" to those that can afford to actually play with it and do some "stimulating?" 

[mademiriam]

well the Canadian tax refund being completely different, but my tax course having paid for itself, I will use this years refund to pay off the bandit.

[Sven]

Why not give some "play money" to those that can afford to actually play with it and do some "stimulating?" 

So, you're suggesting the government direct funds to those who have little or no debt, such upper-middle class?  If so, where do I sign up?

[Sven]

well the Canadian tax refund being completely different, but my tax course having paid for itself, I will use this years refund to pay off the bandit.

You're right, this is a whole different game, since it's not a refund of overpaid taxes, or even a "tax refund", it's legally labelled a "payment" to taxpayers so they will go out and stimulate the economy, which will create jobs.  Not sure how many jobs will be created by giving everyone a one-time lump sum of about $300, which is why this is just such a goofy scheme.  Of course, the payment comes from the US Treasury, which is funded by taxes, but it's not a "tax refund".

Anyway...let's get this back on track.  Uncle Santa is leaving *some* money in most US taxpayers' mailbox/stocking in May...who's got plans to have some FUN with it?

[orionburn]

Yeah...this didn't quite go the way I thought it would  Oh, I did hear the IRS was spending around $50 million to send out the notices about the rebates.

Anyhoot...if I do get a refund I'm considering getting a Yosh can for the Bandit. Need a new exhaust for the FZR as well.

Then again with the exploding rate of gas prices we may all be using the refund just to fill up our tanks 

[mademiriam]

yes gas prices, aren't they fun  ok not really. My bike is only marginally better on gas than my car and of course I never drive my car just for fun or at over 100mph so this summer will be pricey. Guess that 'signing' bonus my union got for me can go towards some gas.

[mwheat308]

Well, we been talkin about this since they came up with it. The little Lady wants to git some new cloths for the kids, but we both want some new Dale jr shirts. I think we need a new flat screen TV, but she wants new tires on her truck fer muddin.
After all it's free money    NOT.
SVEN has a pretty good idea with paying down the National Debt. Just keep in mind that this is an election year, so nothing will make good sense until this SH*T is done.
You all have a great weekend, it's warm and I'm headed out on the bike for a couple of hours.

[LowRyter]

my guess is that I will just have to use it to help pay for my income tax bill.

[PitterB4]

Why not give some "play money" to those that can afford to actually play with it and do some "stimulating?" 

So, you're suggesting the government direct funds to those who have little or no debt, such upper-middle class?  If so, where do I sign up?

Uh... Yeah!  At least they shouldn't be excluded from getting an opportunity add some extra stimulation.  That was the whole purpose of the thing, right?

Edit:  Good luck trying to get that through this congress!!!!!   

[smooth operator]

  I'll probably have to come up with about 9K for 07. (I hope less, I have to take mine in next week to get tallied up)  So if they decide to throw me a Quater to try and get a vote , It just goes to what I owe them already.

[interfuse]

well the Canadian tax refund being completely different, but my tax course having paid for itself, I will use this years refund to pay off the bandit.

Lucky you. My tax refund goes to pay my MC insurance (which in ontario is stupidly expensive)... somehow they aways end up being the same amount.... and come-in around the same time.

[Rocketjock]

What's a tax rebate?

[Barbarian]

I have to double check on this, but it's my understanding that even though I'm a Canadian citizen and resident, I'm getting some money from Uncle Sam this year. It all has to do with having a daughter who is an American national.

Will let you know if it actually happens