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Stimulus Package Impact on Seniors


Posted on Mon, 01/28/2008 - 02:32 — by snorkler
snorkler
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Joined: Sep 2005
Posts: 34
Perhaps I missed more than one memo, but I can't determine from all the published articles whether or not those whose only "income" is their monthly SSI distribution should expect a "rebate/refund" of any sort. They file tax returns annualy, but no longer "owe" Federal or State taxes. My family members in their '70's and '80's plan their lives around their remaining savings and SSI distributions, and could enjoy spending such a one-time benefit on themselves (Medical insurance, eg.), but I've told them not to expect it -- am I overly pessimistic? Thanks in advance for any help. Snorkler
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Mon, 01/28/2008 - 04:11 —
RealAmerica
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Joined: Sep 2006
Posts: 483
As the 'invisible' Republican presidential candidate put it - How does borrowing money from China to distribute to our population at $300 - $600 each to spend on goods from China to 'stimulate' our economy benefit OUR nation? The interest on the borrowed money will increase the rate of inflation, and deflate the value of the dollar. Taxing the distribution is a way of recovering some of the interest payable. So it's not likely to be tax-free. Our national debt already exceeds the national budget. That is one reason the Canadian dollar is now worth more than an American dollar. Democrats.Republicans.Selling America One Piece At A TimeB Careful How U Vote! RealAmerica
Mon, 01/28/2008 - 20:19 —
snorkler
snorkler's picture

Joined: Sep 2005
Posts: 34
Don't misunderstand me -- I think the package, as I read it, will provide very little real stimulation to our economy; I'd prefer to see significant cutbacks in government spending coupled with across the board reductions in personal and business income tax rates. But I'm not sure what more is to come after this initial package is enacted -- and hope it's not the end. Snorkler

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