Fri 25 Jan 2008
Bloody Hell! Where’s My Tax Rebate!
Posted by RichSlick under John Galt
[17] Comments
Chaps, this is just incredulous! This government needs to sort out its priorities pronto because what I’m reading about this so called “stimulus package” is disconcerting in that I won’t be getting a single dime back! According to the Associated Press,
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children.
Well, if the bloody politicians want to play it like that then I, ala , will REFUSE to buy and goods or services with my vast disposable income from now until January 1st, 2009. I shall not buy a new 52″ LCD TV nor shall I buy a 24″ iMac nor shall I buy Mac-mini’s, iPods, nor any other gizmo for the rest of the year!
As a matter of fact, I will now DEFINITELY take my next vacation outside the US and I will definitely fly on British Airways or Air France or some other non-US based carrier and make sure it is an AirBus plane while I’m at it.
After busting my arse for the last year, my reward for all my hard work is to subsidize the sea of mediocrity in America. What a cruel joke!
Brothers in arms, I ask that you join me in shunting these inept politicians by refusing to buy any consumer goods over the next 12 months! Viva la liberta!
17 Responses to “ Bloody Hell! Where’s My Tax Rebate! ”
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Pingback from I’ve Returned To Bizarro World » Get Rich Slick
February 8th, 2008 at 4:29 pm[...] buy that 52″ LCD TV but still debating whether I should since I won’t be getting my bloody tax rebate after all. Bookmark to: « State of The Global Economy | [...]
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April 13th, 2008 at 9:01 am[...] written at least a half dozen posts relating to Ayn Rand’s books and philosophy here, here, and here and with four airlines going bankrupt and others struggling to maintain their [...]
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Pingback from South American Vacation vs. European Vacation » Get Rich Slick
July 7th, 2008 at 7:02 am[...] dead set against anything in North America as I’m continuing to boycott the outrage known as Bloody Hell! Where’s My Tax Rebate. I must confess that I did end up buying my son an Apple notebook a while ago but it was his bloody [...]
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October 13th, 2008 at 8:01 am[...] I know what you’re thinking, “What happened to your boycott?” [...]
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October 21st, 2008 at 2:00 pm[...] Not only am I waiting, I am boycotting purchasing anything other than basic goods until I get my bloody check or until the year [...]
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Pingback from Creating Your Own Personal Finance Hedges » Get Rich Slick
October 23rd, 2008 at 8:01 am[...] flow. To illustrate an example, I’ll use the popular iPhone scenario. Because of my boycott for the rest of the year, I haven’t actually purchased an iPhone but I have looked into the [...]
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November 12th, 2008 at 8:00 am[...] audiobook?I’m itching to buy a new iPod Nano and maybe an iTouch but I have to stick with my boycott until the end of the year. Oh the agony! Bookmark to: « So Much For South [...]
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November 14th, 2008 at 10:50 am[...] LCD TVs for $1999 or about $1000 each. Not a bad deal and if I weren’t on my tax rebate boycott I’d probably order [...]
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Pingback from My “To Buy” List Is Getting Awfully Long » Get Rich Slick
August 10th, 2009 at 8:02 am[...] Rich Quick = Get Rich Slick. If you're new here, you may want to subscribe to my RSS feed. Back in January of 2008, I began my boycott for the year because of the tax nonsense and put purchasing a variety of items [...]
January 25th, 2008 at 10:44 am
great plan, try to drive the economy even further in the hole…..that will fix the problem
January 25th, 2008 at 11:15 am
I understand that you are pissed that you don’t get a rebate. I get it. So, I’m goign to break it to you gently… It’s not about you.
Not sure if you are married, but lets say you are and have 1 kid. Congratulations, you get $1500. Now, what, pray tell, are you going to do with that $1500? I’d bet a buffalo nickel that it barely, if at all, affects your spending for the year. You’d prolly invest it, right?
Well that’s great for you but that does didly squat for the economy. The jump start the economy needs is in general retail sales. A study done after the 2001 rebate revieled that anyone earning under like $50k a year pretty much spent it all on general goods in 6 months. The same study showed that every dollar generated $1.80 in boost to the economy (as the extra retail dollar generated more spending).
I made about $100k last year and I’d argue that even people making that salary shouldn’t get anything. I am married with 2 kids so I’ll get $1800 if its passed. By then I’ll have my IRA maxed out and my wife’s as well as my 401k. So, I will invest 100% of it until I move in a few years. Again, this does nothing for the ecomomy.
I do agree the plan is crap, but for the opposite reasons.
1) People making over $35k or over $70k as a family should be phased out.
2) They shouldn’t extend unemployment benefits as this just encourages people to not work.
3) They should forget the $50 Billion for businesses. No sense incenting businesses if people aren’t going to spend.
They should give 2 checks of, say $750 (1 in the spring and 1 in the fall) to families making under $70k or so (individuals under $35k).
I’d bet you that if they did that, the boost to the economy would be great. Then the stock market goes up and you, my friend, end up cashing out more than a measily few hundred bucks.
January 25th, 2008 at 11:55 am
While I tend to agree with the author of the post here, I agree that driving the economy further down the spiral is certainly not the solution.
The US government has to stop the penalties that it applies to its most successful citizens. There are too many disincentives to name that affect those who earn more than 30k. Likewise there are way too many programs that encourage the poor to stay poor.
I was unemployed for 2 months this past summer. If I had taken state unemployment, I would have earned $2.35 more per hour than somebody working a minimum wage job. To sit at home and do nothing the state would pay me more than an honest wage earner.
At first I thought it would be against my moral fibers to accept the handout. But once I thought about all the money that the government steals from me, I decided I’d take some back.
I’m not sure if I’ll get a rebate this time around, but if I do its only my money going back into my pocket!
January 25th, 2008 at 12:03 pm
…Viva la liberta! LOL
We do not qualify as well. The purpose of the stimulus is to give it to people that they know will spend the money. High net worth individuals will save or invest it. They know what they are doing ~
January 25th, 2008 at 12:22 pm
In summary, the tax system is and continues to be unfair. Sorry you missed out on the rebate, and I would be impressed if you managed to go a full year without buying any consumer goods for yourself (bonus points if also avoiding doing so for family and friends as gifts). I could honestly care less if the economy goes to the shitter because I work for a power company and suspect that we will not be affected greatly by an economic downturn.
January 25th, 2008 at 3:45 pm
RichSlick -
So, let me some up. They hurt your feelings so you’re taking your toys and going home?
January 25th, 2008 at 5:07 pm
I’m taking my toys where they’ll be appreciated or at the very least where I will be appreciated.
Money is being given to people that:
1. Don’t really deserve it.
2. Will immediately spend it on crap.
Why should anyone bother to work? Let’s just implement communism so everybody will have an “equal” share of the wealth.
Let’s just print $1,000,000 bills and give one to every American. Isn’t this what we’re basically doing on a smaller scale? Won’t a bigger scale = bigger/better economy?
Explain it to me, please!
January 27th, 2008 at 6:58 pm
Here’s a real economic package: