A Friendly Letter

So yesterday we received a lovely letter from the IRS. No, we are not being audited. The letter read as follows (I am paraphrasing): Dear Taxpayer:

We are pleased to inform you that the United States Congress passed and Pres. George W. Bush signed into law the Economic Stimulus Act of 2008, which provides economic stimulus payments to be made to over 130 million American households.(Any other questions...go to irs.gov and search for "economic stimulus payment".) Translation: The Government is giving out Money!!!!

Why?: Well, you could say that our government is just so giving. But the truth is this is their attempt to stop/slow down the recession that we are facing.They expect people to get this money and pour it back into the economy by SPENDING!!!

Qualifiers to get your $$$:

1. Taxpayers must have a valid Social Security number,
2. $3,000 of income
3. File a 2007 federal tax return

How do you know how much to expect?

Okay so it pretty much goes....If you are single and you filed taxes in 2007, then you get $600.

• If you filed jointly for 2007 tax, then you get $1200.

• If you have kids then you get an additional $300 for every kid that is under the age of 17 years!!!

• If you do not pay income tax, BUT have a total of $3000 or more in earned income, Social Security benefits, and/or certain veterans' payments, then you get $300 or $600 if you filed jointly.

• If you have adjusted gross income of more then $75,000 or more then $150,000 when filing jointly, well then you are kinda out of luck on this. You will either get a smaller amount or none at all. Sorry, but you make a lot of money anyway!!
  

The money will come as a one-time payment in MAY! So that gives everyone plenty of time to figure out what to spend the $ on.

Okay so I will say it first, we should all be responsible and save our money or use it to pay off debt. But just for fun...here are my top ten ideas of how to spend spend spend like the government wants us to?

1. Family Trip
   
2. Shopping Spree to get my Spring/Summer Wardrobe
3. Day at the Spa, oh yeah a facial and stone massage. WONDER-FUL!
4. 42 in. Flat Screen T.V.-I've been looking at Costco, you could buy a t.v. and still have money leftover!
5. Furniture for the Apt
6. Buy concert Tickets for that band that is coming this summer
7. Get my hair done, color cut the works!
8. Guitar Hero and or/Wii
9. New Laptop
10. ?????

I can't think of a number 10....what other ideas can you think to spend your gift from the Government??????