SavvySugar

What Exactly Is a Rebate Check?

SavvySugar — Fri, 15 Feb 2008 15:19:01 -0800

A lot of questions have been trickling in about the rebate check since President Bush finalized the bill for the economic stimulus package on Wednesday. The most common questions have to do with whether or not you qualify to receive one and what exactly a rebate check is. To find out what the rebate check is all about just read more

Your rebate is a one-time tax cut that you don't have to pay back and is considered an advance on the taxes you'll owe in 2008. Contrary to the perplexing explanation that I've been reading everywhere, you don't need to be an accountant to understand the rebate check. One point that can be especially confusing is there are three years are involved (2007-2009), but here's the gist of what you need to know.

If you file your taxes for 2007 and qualify for a rebate check, the rebate amount will appear on your 2008 tax return as tax credit. You won't get any less of a refund than you normally would for your 2008 tax return (which you'll file in 2009). If you didn't qualify for the rebate based on your 2007 return but your situation in 2008 changes so that you do qualify, the government will send you a rebate check next year.

Download the fact sheet that the Treasury created to see how much money you'll be receiving.

Source

News Flash: Bush Signed Economic Stimulus Package

SavvySugar — Thu, 14 Feb 2008 04:03:20 -0800

While the idea of an economic stimulus package was introduced last month, the bill was just given the final sign-off yesterday by President Bush. He's calling the $168 billion package a "booster shot for our economy" and the bill includes rebates for individuals and tax breaks for businesses to promote spending by all. The checks will start going out in May but you have to file your 2007 tax return before you get the check. After you've filed your taxes there's nothing else you need to do to get your check, and if you receive your tax return through direct deposit than you'll get your rebate the same way. Now that we know the rebates are a sure thing, I'd like to know how you'll put yours to use - spend, save, pay off bills or invest?

Source

Will You Be Watching Bush's State of the Union?

SavvySugar — Mon, 28 Jan 2008 07:01:07 -0800

President Bush will deliver his State of the Union address tonight, and it's expected that most of the 45-minute speech will focus on the economy. Will you be tuning in to see if he addresses your concerns?

Source

News Flash: A Rebate Check May Be on Its Way

SavvySugar — Mon, 21 Jan 2008 09:20:01 -0800

President Bush is pushing an economic stimulus package sized from $140 billion to $150 billion, which may mean a rebate check will be headed for your mailbox. The White House is considering rebates of up to $800 for individuals and $1,600 for married couples. A similar package was rolled out in 2001 and checks were issued in sums of $300 or $600. Surprisingly, most people spent their checks instead of saving or using the money to pay off credit and that's what the White House is hoping for this time around, too.

Source

The Most Admired Men and Women of 2008

SavvySugar — Mon, 05 Jan 2009 13:00:38 -0800

We're starting to switch gears to 2009, but last year was a big one and 2008 is hardly a distant memory at this point. A Gallup poll asked Americans who they admired most in 2008 and the results are varied and interesting.

For the seventh year in a row, Hillary Clinton was ranked as the most admired woman, and Sarah Palin ousted second place incumbent Oprah Winfrey in the 2008 list. Barack Obama was voted the most admired man for the first time: In fact, Gallup notes that Obama is the first president-elect since Dwight Eisenhower in 1952 to top the list.

Most Admired Men, 2008

Admired Person	Percent of Vote
Barack Obama	32 percent
George W. Bush	5 percent
John McCain	3 percent
Pope Benedict XVI	2 percent
Rev. Billy Graham	2 percent
Bill Clinton	2 percent
Colin Powell	2 percent
Nelson Mandela	1 percent
Bill Gates	1 percent
The Dalai Lama	1 percent

See the Most Admired Women of 2008 when you read more.

Most Admired Women, 2008

Admired Person	Percent of Vote
Hillary Clinton	20 percent
Sarah Palin	11 percent
Oprah Winfrey	8 percent
Condoleezza Rice	7 percent
Michelle Obama	3 percent
Margaret Thatcher	2 percent
Laura Bush	2 percent
Angelina Jolie	2 percent
Barbara Bush	1 percent
Madeleine Albright	1 percent
Ellen DeGeneres	1 percent

Source

Second Round of Rebate Checks?

SavvySugar — Thu, 17 Jul 2008 11:01:13 -0700

Much to nobody's surprise, the rebate checks issued as part of this year's economic stimulus package haven't done enough to boost our economy thus far. In fact, economists are wondering if another round would prevent our economy from falling apart entirely. Strong words? Yep, but there are too many people losing their homes and suffering from job losses to ignore the big pickle that is our economy.

Democratic leaders have initiated the idea of a second stimulus package that would include spending for roads, bridges, schools, and other public facilities. The possibility is being discussed, and while President Bush admits that growth had been “slower than we would have liked,” he also wants to let the first package "run its course" and reassures that he "is an optimist."

Expect more debates surrounding the issue throughout the Summer and then some. If another plan including additional rebate checks does come into play, let's hope they hold off from releasing inaccurate schedules and from sending expensive letters regarding the issue.

Source

Your Two Cents: Will Rebate Checks Stimulate the Economy?

SavvySugar — Sun, 11 May 2008 11:12:54 -0700

Many of you have seen a boost in your bank account over the last week or so as the IRS has started the process of issuing rebates to about 130 million Americans. It's all part of the economic stimulus package, and yet according to a poll run by CNN 82 percent of Americans don't believe that the checks will do much of anything to give our economy the boost it needs. While the majority on the receiving end aren't confident that the checks will have their intended effect, many economists and politicians are holding their positive ground.

President Bush's Deputy Press Secretary Tony Fratto said, "It will boost the economy - it's impossible that it won't. It's like saying if I pour water into a cup, will it get wet?" At the same time, Secretary of the Treasury Henry Paulson noted that high gas prices will likely reduce the impact rebate checks will have on the economy. Where do you stand?

Source

How Much Do You Pay For Gas Each Month?

SavvySugar — Thu, 01 May 2008 11:29:21 -0700

On Friday, President Bush said that the economic stimulus rebate checks would "help Americans offset the high prices we're seeing at the gas pump and the grocery store," and according to CNBC, government projections suggest that "consumers could use the checks to buy gas for about 75 days at current prices."

You're all highly aware of the number that registers on the gas pump each time you fill up, but do you know how much you're spending on gas each month compared to other drivers? Let's find out how much you're spending compared to everyone else by estimating how much of your monthly paycheck is going to gas.

Source

News Flash: Job Losses Worst in Five Years

SavvySugar — Mon, 10 Mar 2008 06:54:21 -0700

Analysts are interpreting the recent Labor Department reports as an obviously weakening US job market. The 63,000 jobs cut in February made it the worst month for job loss in five years, and the cuts were a noticeable increase from January's cuts that amounted to 22,000. Job losses were spread across multiple industries -factories, construction companies, mortgage brokers, real-estate firms, retailers, temporary-help firms, child day-care providers, hotels, educational services, accounting firms and computer designers were all part of the 63,000. In reaction to the report, President Bush said, "It's clear our economy has slowed," but he's relying on the economic stimulus to generate growth in the coming months.

Source

News Flash: 17,000 Job Losses in January

SavvySugar — Mon, 04 Feb 2008 12:23:35 -0800

The U.S. Department of Labor reported Friday the first decline in employment in four years. Preliminary figures showed January as having the first decline in payrolls since August 2003 but those numbers might be revised. The report also showed the average hours worked in the private sector declined last month so it looks like some companies are still following the trend of cutting hours instead of jobs. President Bush noted Friday's employment figures as a reason for speeding up the passing of the proposed economic stimulus package.

Source