“Enclosed is an important message from the IRS on the Economic Stimulus Act of 2008. Do Not Throw Away!”
That’s a quote from the back of the envelope from the United States Treasury. A paraphrase of the inside text: we consider you below the poverty line, you have zero adjusted income last year, and still had to pay $180 tax, so we’re throwing you a bone. We deposited $300 in your account 6 days ago. Please spend it all in one place, we think it will stimulate the economy. Not as much as all those rich people who we gave tax breaks will stimulate the economy …
$300 in a $13,794,000,000,000 GDP: I would do the math, but my calculator has an overflow error when I try to figure the percentage.
You need a better calculator:
300 / 1.3794 X 10^13 = 2.1749 X 10^-11 = 0.0000000021749%
With Niall ours is significant, $1,500.
Mind you, we paid more in taxes than many people earn in a year, last year. We’re those “rich people” you mentioned, apparently.
It’s funny but for last several years, we usually get a refund from our federal and state taxes. This year, we spent extra time with Turbo tax and we’re only getting back a state refund. Interestingly, the federal stimulus is about the same as we would get from previous refunds. Another couple of friends noticed the same thing. Coincidence? What’s your experience?
In a “normal year”, which I haven’t had for two years in row since the turn of the millennium, I usually owe a little. This was a rare year – I worked less than half of it.
MoeBush,
We are almost always within $100 of even every year. I adjust our withholding anytime anything changes and check it in October.
I’m sure you’ve heard the adage before, but if you get a ‘return’ you gave the government an interest-free loan for a portion of the year. They are not nearly as kind when the situation is reversed. More than $1000 due and the penalty interest can be pretty steep.
Just thought I’d point that out.
I suppose a shorter answer to your question would have been… “No”.
*grin*
Corey