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Friday, January 25, 2008

Economic Stimulus??

I feel like I am getting cheated according to the NYTimes article. (partial post follows)
It seems as if $75,000 is some magical number to them. I did not get the 2001 rebate because of my income and, being a single parent at that time my child support was greatly reduced (from over $700 a month to $131 a month for 4 children. Why? 'Because I had excessive income'. So, I worked more to make up the difference and got to spend less time with my children. With 4 children, who has excessive income?!
I am married now but, it looks like it is going to affect us once again. If a couple earns over $150,000 thier rebate would be reduced by 5 percent for each $1,000 in income. Why? Didn't I pay more taxes than somebody earning less than that?!
Yep, I am feeling a little cheated!

Full rebates of up to $600 or $1,200 would be paid to individuals earning up to $75,000 adjusted gross income or couples filing jointly and earning up to $150,000. Above that, rebates would be reduced by 5 percent for each $1,000 in income. Rebates would be reduced by $50 for each $1,000 in income, meaning a couple with no children earning $174,000 would have no rebate. A single mother of two children earning $50,000 and paying at least $600 in taxes would receive $1,200 —a $600 individual rebate and $300 a child. A married couple with three children earning $100,000 and paying at least $1,200 in taxes would receive $2,100 — a $1,200 rebate and $300 a child.

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