Poll: Bill-Paying Tops Rebate Check Plans

Most Americans Expect To Receive Rebate, Half Plan To Use Money To Pay Bills

(CBS/AP)  The government started depositing thousands of rebate checks in taxpayers' bank accounts on Monday, earlier than originally scheduled, with the Bush administration hoping the payments will give a jump-start to a weak economy.

According to a CBS News/New York Times poll conducted over the weekend, 75 percent of Americans expect to receive a rebate check. Of those expecting a rebate, half say they plan to pay bills with the extra money, 27 percent say they will save or invest it and 18 percent plan to spend it.

While American taxpayers may be delighted to receive the extra cash, 56 percent do not think the rebate checks will stimulate the economy, and only 41 percent think that it will help.

Read The Complete Poll Results

The Internal Revenue Service started making the deposits at 8:30 a.m. EDT Monday with the goal of completing 800,000 direct deposits each day over the first three days of this week. No deposits will be made Thursday while the IRS prepares a big batch of 5 million direct deposits scheduled on Friday.

The government's paper checks will start going out on May 9, a week earlier than previously announced. The rebates, which are expected to reach 130 million households, range up to $600 for an individual and $1,200 for a couple. Families with children will get $300 per child.

The rebates were the centerpiece of the government's $168 billion economic stimulus package enacted in February and are designed to bolster consumer spending and lift the economy out of the doldrums.

The checks will arrive six months too late to prevent an economic slowdown, which started back in December, reports CBS News correspondent Anthony Mason. But they could help keep what many economists now say is a recession from getting even worse.

President Bush last week disputed that the country has fallen into a recession, saying he believed it was a period of slower growth not an full-blown recession.

"It's obvious our economy is in a slowdown. But fortunately we recognized the signs and took action," Bush said Friday in announcing that the rebates were going out a few days earlier than expected.

The rebate checks are coming as the IRS wraps up sending out the normal refund checks to taxpayers based on their 2007 tax returns which taxpayers had to file by April 15.

The IRS said all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11. The direct deposits and the paper checks are being processed by the last two digits of a taxpayers' Social Security number.

For people receiving direct deposits, those with a Social Security number ending in 00 to 20 will have their economic stimulus payment deposited to their bank account by May 2.

Those with Social Security numbers ending in 21 to 75 will get their direct deposits by May 9 and those with Social Security numbers ending in 76 to 99 getting their deposits by May 16.

[naucoming4u]

"First Batch Of Tax Rebate Checks Arrives"

So that''s why it was so crowded at WalMart today! LOL!

[smiley676]

If only there were no federal tax on gas...

[bgwinnett]

$168 billion = More borrowed money, for the financials to try and shore up their balance sheets with.

[simpsonman19]

Score! Next stop my local convience store and 600 lotto tickets :)

[mbburch06]

This stimulus will do little to help the economy, but at least it''s $168 billion less that the idiots in Congress have to spend on wasteful projects and initiatives. Now if we could just get the Federal Reserve to stop printing $$$ out of thin air and devaluing our currency...

[michellem99-2009]

This is helppful as I do use this site national news..I think this is a fair way by our numbers..We need money to live but money don''t rule us..In other words we don''t let money drive us crazy. I say this to him If we are meant to get the money fine if not fine,,every little bit helps. I know things are tight..

[simpsonman19]

No, not at all, but I think the rebate is intened for those who are really feeling the pinch of a weakening economy. Also those who have more money already have the money to spend, so they figured if they gave the money to people who didn''t make as much they would go out and spend it faster.

[michellem99-2009]

been to Seattle dear and checked out the rents here. They are higher than NYC and they had a news story about that..

[inventagod2]

Wow - I finally get that HumVee I always wanted...

[dowjones20k]

Is that fair?

Posted by ddhinnyc at 04:40 PM : Apr 28, 2008

dd ...

Yes the feds think it''s fair .. since you make 3 times the average income .. and probably spend it.

Maybe you could choose a different city to live in?

NY has always been one of the most expensive cities in the USA to live in ...

Maybe you could get a spouse and some kids too .. that would certainly help your tax credits..

How about a mortgage? That would help?

There are way''s my friend ... you just have to learn to play the IRS game ... although it could get very expensive in the longrun (divorce) ...

Enjoy ...

[slim1h2o]

Well, Mr & Mrs. Smith,,How are you going to spend your stimulus check?

"Well,,Hell" I reckon we''re going to give ours to to Bush and Cheney,,We''re going to fill up the cars with gas.

Then we''ll stock up on groceries, which are sky high, cuz the the fuel prices,, so I reckon Bush and Cheney will get a slice of that too.

Man! It pays to be President!! Not too shabby being the V.P. either!

Signed...Mr and Mrs. Smith

[jjhtire]

you choose were you live so complaining about the city you live in being more expensive than others should fall on deaf ears.

[godseyesore-2009]

ddhinnyc...LOL, are you SERIOUS?
Get real, dude.

[gce65]

Bill paying??? NOT A CHANCE! No gasoline either. I''m not contributing anything more to the greedy banks and big corporations who expect another government-sponsored windfall at taxpayers expense.

May as well by black market cigarettes, some weed, some blow, or a hooker!

[imaok1]

--You choose to live in an area of high rent. You can choose to live anywhere you want or pull up yourself by your bootstraps and make some more money.--

**applause for hynotoad72**

[nobdehom]

Great, we..can all use the cash to catch up, however I think the big issues here start with *1st-someone needs to stop the gas companies from getting richier while the hard working population struggle to buy gas to get to work while having their gas sometimes stolen..by non-working gov.leaches ..*2nd-Doing something about the food prices so we won''t have to make the choice whether to purchase gas or food! Oh and then the matter of the "thiefs" that morgage homes that sugar coat the varible interest rates information to people who have no knowledge of finance and are overwilmed with excitement to buy that home! CROOKS....THIEFS all in the same listing!

[trenticus-2009]

Bill paying??? NOT A CHANCE! No gasoline either. I''''m not contributing anything more to the greedy banks and big corporations who expect another government-sponsored windfall at taxpayers expense.

May as well by black market cigarettes, some weed, some blow, or a hooker!

Posted by gce65 at 06:13 PM : Apr 28, 2008

COOL! I''ll bring the hookers you bring the blow and I''ll find a pothead to throw in some goods!

[speakinup]

I believe it is sad, but most Americans have huge Credit Card debt.

And, from what I hear, it is by choice. It''s not like folks couldn''t pay them off in a year or two, but they are living for the here and now. Instant gratification.


If you want a 20% tax free raise, pay off your Credit Cards.


If you want to get back at the lending institutions, use your cards, and pay them in full each month.


It''s like a free loan. I can''t remember when I had to pay interest on a credit card, and it feels FANTASTIC!

[umbuddy]

hell, I am going to spend it by buying new TV and other stuff. Its free money, might as well spend it.
I take care of my bills, own my house, and doing ok,
so might as well spend it when it comes.

[skeezix06]

We (the nation) are in debt up to our eyeballs and Bush and Congress are giving even more money away.

The rebate is not going to buy appliances and other economy stimulating items.

Those who do not live in the vicinity of a public transit system are going in the gas tank so that they can go to work. Or they''ll buy food. Or they''ll use it to pay their utilities or house payment/rent.

That''s fact.

[jack3213]

BE SAMRT- SAVE IT- OR PAY YOUR BILLS. THE HECK WITH BUSH AND THINKING YOUR MONEY WILL IMPROVE THE ECONOMY- WHAT..FOR ONE WEEK? PLEASE

[salmazz-2009]

Let us all write our local, state and federal politician and tell them to reduce government regulations. Don%u2019t just vote for somebody who claims they are giving you something, since they are the same people who will take it away from you another day. People should stop looking at the government as a hand out. The government is one group of people passing laws against another, supposedly for the good of all. We are all over regulated, over taxed at every level and this is causing people to suffer. We need less regulation, less taxes, more energy being produced here in the USA. Government works best when it is the least oppressive and most people should realize we are regulated in every aspect of our life. This is hindering growth causing people to suffer needlessly.

[speakinup]

"BE SAMRT- SAVE IT- OR PAY YOUR BILLS. THE HECK WITH BUSH AND THINKING YOUR MONEY WILL IMPROVE THE ECONOMY- WHAT..FOR ONE WEEK? PLEASE - Posted by JACK3213





HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA




This moron is really amusing. Like people can change their habits because he asks! HA HA HA HA HA HA HA HA HA HA HA HA



THAT would be your typical far left brain!


SHE-IT, No wonder Hillary made it as far as she did!



Jack - you are proof of the adage, "they are making better idiots every day."

[erehak]

It''s interesting to me that the news media has never mentioned the thousands (perhaps millions?) of people who will NOT be receiving this so-called tax rebate. Anyone who owes back-taxes to the IRS will find that his rebate is forfeited to pay what he owes. So, basically, the government will pay itself what you owe!

"Hey John, loan me $600!" "I don''t have $600 to loan you." "Okay, well then, let ME give YOU $600 so you can loan it to me, okay?"

[erehak]

It''s interesting to me that the news media has never mentioned the thousands (perhaps millions?) of people who will NOT be receiving this so-called tax rebate. Anyone who owes back-taxes to the IRS will find that his rebate is forfeited to pay what he owes. So, basicall

[wtf1999]

I''m going to split up my rebate money among the 3 local gas stations as I fill up my gas tank over the next two months!

[getcentered]

I would like to personally thank China for my "economic-stimulus" check!!!

[getcentered]

"You can roll your own Bush tax cut:
1) Get a $1000 cash advance on your credit card.
2) Spend $500.
3) Give $500 to your boss."

That is mad funny.......

[djberson]

Yeah, good luck getting Americans to make the effort (and commitment) to look for and purchase American made goods. One visit to your local big-box retailer proves that even they... American businesses themselves will not support other American businesses.

[speakinup]

getcentered - while in china for two weeks, about a month ago, I learned their biggext concern was over production. Meaning that they were afraid the US would not be purchasing as much in the future, and that their economy would have a huge unemployment problem with a populace that was now used to being so much more affluent.


Does that sound like a country that would like to see our economy go down the tubes ? (note - we are their largest trade partner by far).

[bobnjersey]

i''m using mine to buy chinese treasury bills ... just my little part to even it all out.

[mrmazerati]

I sorta don''t see how this tax break thing squares with Republican philosophy. They don''t believe in entitlement, but in this deal the richer people don''t get a rebate and the poorer do. Which means the rich are funding the tax break. Isn''t that a bit hypocritical? Not complaining, BTW. I don''t qualify for a tax rebate, but that''s fine with me. Lots of other folks can''t pay their electric bill and I want to see them helped. I''m just pointing out the irony.

[getcentered]

speakinup

I don''t see your point.

[lovegetpeace]

Ooops, we need another Tax Rebate to Spend to keep this economy above water.

Does anyone got the China Reserve Bank phone number to let them know America needs to borrow more?

[shanev137]

How can the check stimulate the economy if people use them to pay down debt on things they''ve already bought?

It''s a no brainer.....but then again nobody has ever accused republicans of having any brains when it comes to financial matters.

[sdcjd1]

Shouldn''t we be trying to save money, insteading of consuming more junk to fill up the landfills and the oceans with? Also, the govt. is cutting back on healthcare and programs for the elderly and disabled to try to balance the budget. So where are they getting all this money to give away?

[bgwinnett]

speakinup:

China has it''s problems alright: Inflation is at over 8%, which causing growing anger amongst the populace-- furthermore employees are starting to demand more rights and are taking strike action, to try and force employers to oblige.

Another problem is that, rapid industrialization is heavily polluting and draining the Yangtze -- the main source of drinking water and irrigation for hundreds of millions of people -- down to record low levels.

Last but not least the Chinese stock market was down 50% on it''s all time high-- until a 9% rally today.
However despite this rally, China''s stocks retain the highest price-earnings ratio for Aisian stocks, at over 25 times reported earnings, compared with 16 times for Japan''s Nikkei 225 Stock exchange.It would be safe to say then that, Chinese shares are still overvalued.
Yes you could say China is definitely experiencing some major growing pains at this moment.

[rosesnpearls]

I guess since I wrecked my car Sunday, I''ll use mine to meet the deductible.

[ontheleft]

So this is the best the government can do to help the economy? Borrow $600 on our behalf? In the end it just makes our problems worse.

Bush said this is all he''s going to do for the ailing economy. Good thing, because if he did anything else he''d just screww things up even more.

[gce65]

sdcjd1: "So where are they getting all this money to give away?"

They borrow it! Basically, it''s borrowed from future generations and goes on the $9 TRILLION national debt. Borrowing it is the same place they get all the money they''ve been giving away in tax cuts to the rich and to corporations.

It''s just that this approach hasn''t worked (hasn''t "trickled down" to the middle and lower classes) and Americans aren''t spending like they once did. If we don''t keep spending, the economy stalls like it''s doing now.

Add the lowering of home values to the devaluation of the US dollar to rising inflation and the US is not sitting very pretty.

Pay no attention to the stock markets. The Dow Jones or the Nasdaq or the S&P 500 are not indicators of how our economy is doing; they only measure what stocks wealthier people are trading. But media regularly hold them up as daily economic indicators. They are not.

[gce65]

There are basically only two places government gets money: taxes and borrowing.

At least when the GOP used to call Democrats "tax and spend liberals" there was actual tax money to spend.

Not so with the "borrow and spend conservatives." This is like someone taking YOUR credit card and racking up money on it for YOU to pay back someday.

[iphyt4u]

Mine is going towards property tax.

[naucoming4u]

I''m using my check to by that Glock 9mm (with ammo and extra clips) in preparation for the coming social and economic meltdown that Bush will create (via war with Iran) later this year.

The police will be too busy trying to protect their own families!

[gce65]

By the way, this tax cut money isn''t only coming from China. It''ll also be funded by Saudi Arabia, Kuwait, the United Arab Emirates, Russia, Japan, maybe even Hugo Chavez in Venezuela!
Of course they''re not so keen on investing in the US dollar as they were a few years ago since it''s lost so much value internationally. The Euro is the rising currency in the world.

[gce65]

NAU:
May as well get an extended threaded barrel and a silencer for that Glock. No point in letting everyone else know when you''re shooting. Shhhh!

[naucoming4u]

NAU:
May as well get an extended threaded barrel and a silencer for that Glock. No point in letting everyone else know when you''''re shooting. Shhhh!

Posted by gce65 at 09:07 PM : Apr 28, 2008
..............

LOL!

Thanks for the advice. I''ll look into that!

:-)

[bgwinnett]

The Euro is the rising currency in the world.

Posted by gce65 at 09:04 PM

Tell that to the Spanish and the Italians who are getting screwed over, by the inability to set their own rates -- Spain especially -- and a high currency exchange rate that is making exports uncompetitive.

[rebelscout]

This is equal to throwing a bone to the dog. I wont give you the steak, just chew on this and be happy because thats all you get. Stimulate the economy? Nothing more than hey, I gave you back your money so now please like me signed W.

[cattlekate]

Posted by rebelscout at 09:38 PM : Apr 28, 2008

Yeah no kidding. It is like rotten apples from the Queen & King. Thrown to the agitated crowd.

It was the best of times, it was the worst of times........................

It is also like a money laundering scheme, to get US taxpayer dollars, to the Oil Companies, courtesy as one last gasp from Bush&Co.

[randynason]

This rebate check will be a mere trickle in the process of my monthly bill paying. In the final analysis, though, it will add another 1.5 trillion dollars to the national deficit. That''s the truth of it. The Republicans have never had any sense with regard to fiscal responsibility and George the rabid pink monkey is no minor exception.