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Admin
May
1
A check in the mail
May 1, 2008 |
This week the US Government started sending out a one time tax refund to most tax payers. The payment will be made electronically or by mail depending on what you chose on your 2007 tax return. Find the schedule here.
In a nutshell, if your Average Gross Income is lower than $75,000 and you are single you get $600 or if your AGI lower than $150,000 and you are married you will get $1,200. With food and gas prices on the rise and contributing to higher inflation, and added to that the poor economic outlook, this is welcome relief. The additional benefit for married couples is to support higher expenses in a family. Sounds fair, right? Yes and No. Yes because if you are married and qualified, you get the full benefit from the scheme. No because there are some who deserve a refund but will not get anything.
Consider this real situation that I heard recently. Mr. X is currently single but supports three kids and also his ex-wife. Mr. X will not get a dime because he earns more than $75,000. I believe a more equitable way would be agnostic to the marital status, but take into consideration the number of dependents on the tax return. I can hear some you say, “Wait a minute, what if someone has 16 17 kids? Should they get more than someone with no kids?” That’s a fair position. Having more rules for such measures only complicates and confuses the matter. Someone will be left out and be angry. So anyone with at least one dependent should have received the same as a married couple (with or without kids).
A deeper issue here is something that is rarely questioned or debated. Why is taxation used to discriminate against a section of the citizenry? Through these laws we support marriage and penalize single persons, but these same lawmakers will not allow a gay couple to get married and avail the same benefits even if they want to get married. Double standards anyone? The promotion of marriage as an “institution” does not stop at taxation. Think immigration, adoption, and a host of other laws, memberships and social norms.
In any case, all this extra money is not going to really increase consumer spending that will necessarily trigger the economy (as Dubya hopes). Most of us will be using it to cover the increased cost of goods and transportation in the coming months.
Talking of transportion, Senators McCain and Clinton are proposing a one time gas tax moratorium (B told me 12 months ago that such a proposal will be brought forth by at least one candidate in the months leading up to the election). Politicians resort to such expedient measures, more so in election years. The economics of this plan are not sound, as the increased demand may very well end up increasing prices further. I digress.
Politicians in their infinite wisdom will do only as they can divine, the rest of us line up like sheep and elect them. If they are indeed reflecting the views of the constituents, then we are all guilty of discrimination through taxation and other means.
-Jai
economic stimulus, gas tax, MUSINGS, Politics, tax
Bee - yes whatever it takes to get elected right who cares about the economics! It will more than likely drive up the demand and make the oil companies richer. What a terrible scheme.
Hey Bee. Thats such a nice information for u Guys. The papers which i always keep in safe custody is returns..
We don’t get anything anyway Bee. No stimulus from us to society, Bummer!
I am reading “Daughters of Kerala” now. BEAUTIFUL, “a must” collectible book for every daughter of Kerala, review later. Pic on the sidebar.
Have a wonderful weekend, sweetest kutti and kuttan.(Hope that is the right expression, don’t kill me!:D)
kutti in hindi means b!tch.
- b.
Election year is the one time all the issues come out of the closet and then once the next one is elected they all go back in! in that respect US is no different from hamara Bharat mahan.
I agree, i’m going to use that tax return check to pay some more off my mortgage! I think politics is a dirty game! They use tax money to send thousands of troops to fight a war that was in the first place not needed, and then to make up for the depleted money they try to pump in money into the economy in the hopes of boosting it! I think if they would only end the war, they could save millions - and they could conecentrate on more pressing matter here withing the US! Dirty politics - hate to vote for all these slimy people!
I found it funny that 3 of 5 respondents so far addressed Bee and not Jai who has signed off this post. Did someone say discrimination?
Pls don’t come at me with the ‘bee is jai, jai is bee’ analogy anyone.
thanks anita! part of it is my fault. I hadn’t signed off and did so only after couple of comments came in. Although there is a reference in the post which makes it clear that I wrote it. -jai
Ah ah good Anita i was wondering why everyone is mentionning Bee or not Jai, may be the better half gets all the credits through B!
that’s right. bee is not jai and jai is not bee.
- bee
kutti in malayalam and kutti in hindi is pronounced totally differently right bee? dont scare asha……heee
it’s impossible to scare asha. - b.
OMFG!!!Ahhhh……..!!!! I didn’t mean that in Hindi, as in Kutta and Kutti!
I meant it in a endearing way in Malayalam. HeHe!! My mind is in Kerala now, immersed in that book!
Okay, you still are THE greatest of all Kuttis to me in Malayalam anyway! Don’t give me a heart attack to this “older” woman next time, Malayalee kutti!
I am loving that Kerala book, lot of women characters in the stories remind me of you!:)
heee, me too agree that bee is a nalla mallu kuttti, ele jay?…
… “daughters of tomorrow” - http://malaysianincanada.blogspot.com/ is a great read too …where i get to virtually visit Kerala sometimes…
I think I am going ‘prandhu’ with too much of malayalam out here - more so than Tax refund now! before I am actually called hindi Kutti lemme sign off!
I go with ur reflection Jai…But I cant help but not be too bothered abt the same since we got some
I am not complaining anyways 
selfish me! yeah!
That 17 kid family is insane. I had heard of them when they dd the rounds of all the TV stations a couple of years ago. They had 16 then. Then they went and had another one. I wonder when they will stop or if they will keep procreating for as long as they can.
Isn’t the ‘tt’ sound different in the Malayalam kutti and Hindi kutti?
Aha!! A lightening just struck me while I was the reading the next story, had to come back here to tell you. One of the author’s name is Madhavi Kutty…with a Y.. not i!!! Now I know why it’s confusing, Bee kutty!! ;D
Okay,okay, I am gone now, got to feed the hungry kids!
You’re right on Jai…I’d be totally for a nationwide enactment of even “civil union” or “domestic partner” (avoiding the word marriage here) for gay/lesbian couples. I myself have no wish to be so bonded, but I know many couples who do, I support their wishes, and I’ve heard a few complaints regarding this refund. (say one guy makes 85 grand/year, his partner makes 14…together they just get the 600…whereas a straight, married couple with the same income profile gets 1200…) On the bright side, some insurance companies are recognizing GL couples. But, as a community we’ve come a long way since ‘69 (Stonewall). Thanks for your support here…