Comments on: How Much Money Can the New Stimulus Act Save One Family in 2009

By: Monica Movenow

Monica Movenow — Mon, 19 Apr 2010 08:32:33 +0000

This is an ideal situation, but the tax savings will come from taking on more debt, which is not really the way to financial freedom, is it now? It is clear the incentives are geared towards fuelling an economy with its mantra being SPEND SPEND SPEND, CONSUME CONSUME CONSUME. Fiscal sense doesn’t come into the equation too much in this instance.

What else can one say?

Regards

Monica

By: HOWARD JONES

HOWARD JONES — Mon, 01 Mar 2010 02:13:50 +0000

HOW CAN I FIND OUT IF I RECEIVED A STIMULUS CHECK?

By: larry

larry — Mon, 15 Feb 2010 02:39:25 +0000

what gives the feds rights to help themselves to our social security money that is the peoples money. ?????

By: dannielle

dannielle — Tue, 02 Feb 2010 00:36:12 +0000

I like to know about union dues I hear you can deduct but I am always told no. Does anyone know what we can deduct anymore. I like what Larry L had to say lets not pay taxes and see how quick they realize that they cant take advantage of us hardworking people and even the ones who have earned the right to receive pensions and social security why do they have to get scr—ed.

By: peggy

peggy — Wed, 27 Jan 2010 19:50:32 +0000

For all of you wondering…the energy tax cut is a credit not a rebate…so if you did not owe the gov money…forget about getting any back. THIS only applies IF YOU owe the gov…up to 1500 would be forgiven…so all of us who THOUGHT we would get a credit and recoup monies spent…not happening…..Finally got IRS to explain…seems contractors etc are feeding us all wrong info. We only made the upgrades based on getting 1500 of that back…now wondering how we are to pay our realestate taxes after investing that along with other monies for those energy saving projects…..BEWARE!!!!!!!!!!

By: Deborah Gilkes

Deborah Gilkes — Fri, 04 Dec 2009 12:23:18 +0000

If yourspouse is disabled can you carry this person and what would you need for proof of income if he is receiving retirement and social security?

By: Julie

Julie — Sat, 16 May 2009 18:31:19 +0000

You have got to be kidding me!! Take on $500,000 in debt so that you can save $13,900 on your taxes? I’ll concede, if this is the right time for you to buy a first home – that credit makes sense. But no one – I mean no one – needs to buy a $50,000 car to save $1,000 on their taxes. This kind of thinking is what has put America in this position. Buy what you can afford and only that. Pay cash. Live within your means and save for the future. Stay away from credit and debt and your life will be less stressful and more productive.

By: Bill from MN

Bill from MN — Fri, 08 May 2009 00:09:38 +0000

Why is it that those who benefited the most are willing to do the least? Something had to be done, or we could wind up like Japan, with a recession that lasted ten years. To me the risk was necessary, for the out come would be too horrible to contemplate. Having served in the military, and having had friends die for this country, most of these complaints just ring hollow.

By: Larry L

Larry L — Wed, 22 Apr 2009 20:18:38 +0000

Send government a wake-up stimulus
All of us need to stop paying taxes. What could they do? Put us all in jail? Then who would support their 6 & 7 figure income?Once government learns we are not going to support their wasteful habits things could change.

By: Bert

Bert — Mon, 20 Apr 2009 23:22:33 +0000

The stimulus package only helps some that others are paying for. i am retired withs ss and what iras i had are being taxed first even thou they were after taxed. Also, increase in city, county, federal taxes and in utility companies. trying to find work and not counted because not drawing unemployment. over qualified another term for too old.

By: David S.

David S. — Mon, 20 Apr 2009 05:35:46 +0000

Stimulus, schmimulus. Borrowing money from foreign governments (insert China) and printing more money does not, will not, can not possibly have a long term positive effect on the financial health of the country. If the effect lasts 3.5 years, then the democrat party might get re-elected. Perhaps that’s the objective.

By: Pamela Mills

Pamela Mills — Sun, 19 Apr 2009 10:59:19 +0000

The talk show host that was posing as a CNN reporter was so irate tht the citizen did not realize he was getting $4oo from the government, hello, I just paid $9000 in income taxes plus SS, Medicare, State, City, County, Local and school taxes! Plus, that 400 was mine to start with the the government TOOK from me without my permission! HELLO!! Get a clue government, I want the fair tax or the choice of where I spend my mandated amounts!

By: the moose

the moose — Sat, 18 Apr 2009 22:40:12 +0000

I’m tiring of hearing about ‘Stimulus’ issues. The way to solve our ecomonic problems isn’t to spend our way out of them, or to use credit. We need to educate people on what the use of credit really means, and on what their taxes are for. Enough slamming of the ‘rich’ for not paying enough – many middle and lower class don’t pay a dime. I know because I don’t – retired, disabled, one daughter in college. But no mortgage and no credit card debts makes it work, and I’m not complaining about my lifestyle of anything. Not wealthy, just happy and able to do OK on SSA and what I SAVED before I was disabled.
Let’s stimulate LONG TERM recovery, not short term political posturing.

By: DeerJohn

DeerJohn — Sat, 18 Apr 2009 16:17:23 +0000

How the package works, see, is the government takes 3 walnut shells, see, and puts a pea under 1 shell, see, and stirs them around, then the taxpayer gets to choose which one has the pea, see, but that pea is not really there, see, as congress has already taken it, and your money. Now someone has to be stimulated to pay it all back.

By: Sebastian M

Sebastian M — Sat, 18 Apr 2009 02:12:11 +0000

Hello!!! OB, I’m retired as are millions of Americans. Where is our stimulus package.
Our costs for food and everything else has gone up.
Give me a break-What do I have to do to make something Green?
Your right, Paint it.

By: Will Brondell

Will Brondell — Sat, 18 Apr 2009 01:49:27 +0000

Can you tell me directly what stimulus money will be available for me and my wife, filing jointly. We are 73, and 72 years old, own our “new” townhome and two used cars, 6 & 8 years old.

By: Jim O

Jim O — Fri, 17 Apr 2009 19:04:27 +0000

I think we shouldn’t be borrowing to buying anything that depreciates. Save up the money and buy used cars with cash. Buy furniture as you’ve got the cash saved. Pay the credit card bills off every month. I’ve been doing this for the last 30 years and it works great. I bought my first home two months before the magic April 9th. Oh well!

By: Chip

Chip — Fri, 17 Apr 2009 18:33:54 +0000

“Once the Nation’s finances get squared away, we will all benefit in the future.”
Not trying to pick a fight, but by that time, we’ll all be dead and our grandchildren will still be paying for this stimulus.

By: OldDad

OldDad — Fri, 17 Apr 2009 18:12:37 +0000

No stimulus package can be retroactive enough to satisfy everyone. The idea here is to help as many as possible, today. Once the Nation’s finances get squared away, we will all benefit in the future. We can’t correct ALL of the past: how far back would we have to go? Quit your Republican bitching about not getting your share of the pot and be thankful that at least some people will get help, which in the long run will help all of us.

By: Mike M.

Mike M. — Fri, 17 Apr 2009 18:12:35 +0000

Dear TurboTaxLee-
I appreciate your post and anecdotal information. Although the stimulus package does not help me (I’m divorced, no longer a homeowner, can’t claim any education payments since my college-attending daughter lives with her mom, and have a 3-year-old car)your examples do help clarify, which is the point of your article. I won’t shoot the messenger, or whine about the people it does help (like married parents and first-time homebuyers). I also won’t suggest who should get or deserves money. Sometimes we just need to help ourselves. Thank you!