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Josh-D. S. Davis

Xaminmo / Omnimax / Max Omni / Mad Scientist / Midnight Shadow / Radiation Master

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From ny-times article
Josh 201604 KWP
joshdavis
Finally, there's line 47. You haven't heard about that, but you will.

Here's the story. The Bush administration didn't want to give those famous $300 rebate checks; its original plan would have pumped hardly any money into the economy last year. Under prodding from Democrats, the plan was changed to incorporate immediate cash outlays. But those outlays were included only grudgingly, and with a catch: they really weren't rebates. Instead, they were merely advances on future tax cuts.

What that means is that most taxpayers, when they reach line 47 of their 1040's, will discover that they owe $300 more in taxes than they expected. In other words, the one piece of the Bush tax cut that probably did help the economy last year is about to be snatched away.

The entire article is available at http://www.nytimes.com/2002/02/22/opinion/22KRUG.html with login and password being "metafilter".
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Not me. I didn't get jack squatie last year 'cause we showed a business loss - so - no income - no 'rebate' check.

Who'da thunk it'd be a *good* thing??

Re: thinkity thunkity thoo

Well, and aparently, it turns out that the only people who would really be hurt by it would be the people who made money in 2000 and made mostly none in 2001, or something like that.

I just know that I'm happy we're getting a huge tax return. :)

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