Good point. I didn't get it today either.

I closed the bank account I had originally had direct deposit with and got my check today. I'm a **98.

has anyone owed past due student loans and got a stimulus check? i've been on a payment plan for a few months with a student loan collection agency. its not reporting to any of the cra's. and this debt is way over 7 yrs. and i check the irs website to see if there's hope of a stimulus and it says its scheduled to be mailed on june 27, 2008? so do i have a chance? and i got an ref code of 1611 if i was to call the irs. i'm going to call to see if i have any good or bad news.

Dang! We're **98 too, and I can't even get an update on the website. Nor have I gotten the second notice stating exactly how much and when.

Well, darn. It's official. IRS kept my $600. They shouldn't have sent the letter saying they'd send it to me! I was gonna send half of it back, I swear.

that sucks.

I didn't get a tax stimulation either

For those curious....soon to be DW is a 78, mailed return on April 14th....website FINALLY updated to say DD would happen June 27.

ok...got my letter on monday saying id get DD by or on the 27th...we'll see.

They are still doing direct deposits?

Wow!

Apparently so! The DD did in fact hit DW ING account today.

I'm waiting for the special envelope in the mail...needed it like yesterday....has anyone scheduled for 6.27 rec'vd yet?

nope..not me yet..

Nope, still waiting.

OK, I know the IRS is up in EVERYONE's business nowadays, but scheduling the birth of your children?!?!

That's going a LITTLE far, don't you think?

You are so silly!

Got the info today.....98. Getting $2100 scheduled for mail out on July 11, just like the site says. Did Turbo Tax online in February and had the money DD through their bank. Probably why I am getting a paper check.
-ta

Got my check today....

Oh, I don't know....helped to get the extra $300!

well...FINALLY got the check today..

We're eligible for $2400. However, we will only get $1200 due to past due Student Loans. That's OK by me. My question is this. We filed the Injured Spouse form in February, so I assume our stimulus check will be delayed. Was anyone else in a similar situation? Can anyone tell me how long it may be delayed?

We weren't counting on the money, so there's no big rush, I'm just curious. BTW, we're in the last paper check category, so ours was scheduled to go out 7/11



Thanks!

I hear some fools think middle class is when you make 5 million dollars a year...

So teachers are lazy? Social workers....lazy? Nurses...lazy? Office support (receptionists, secretaries etc) ... lazy? Waiters....lazy? Just because you don't make a lot, doesn't mean you don't work hard and pay your share of taxes.

Yes, dollar for dollar, the rich pay more...but dollar for dollar, they make more too. Now, personally, I advocate a flat tax system. Everyone pays the same percent. You make $10 you pay X percent. You make $10million you pay the same X percent. No tax breaks, no exceptions.

And I know a few very successful people who don't do crap. Or wait...they "delegate."

Middle Class = 2 + kids, mortgage, car payment(s), credit cards, food, utilities etc =====BROKE! However, I understand that we are gonna be bailing out the downfall of greed? Guess we need to get ready for another, oh say, $600 - $1000 a month for this privilege, huh? There will be a whole lot more of US losing our homes if this legislation passes without very careful consideration. They need to slow down a WHOLE bunch on this one and think it through all the way.

Oh and BTW, I was one of the 66% that did NOT get a stimulus check.

I didn't get a stimulus check either. Wanted one, but my folks still claim me on their taxes last year (as I was in college) so I was disqualified. Oh well. Life goes on.

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

you don't following fiscal policy changes in the past decade much...

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

If you are in the highest tax bracket, I highly doubt you are considered, by standard means, "poor."

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

the second highest does not pay 100% either...

and I pay ZERO into social security

If your income is between ----- you pay
$0 - $8025 10%
$8025-$32550 15%
$32550-$78850 25%
$78850-$164550 28%
$164550-$357700 33%
357700 and up 35%

Mind you, this is for income, not capital gains. That means that the highest tax bracket is for people earning $357,700 and up. This includes people making $5mill in income (as you stated). Therefore, if you pay the same percent as someone making $5mill, you make more than $357,700 and therefore DO NOT pay Social security on all of your income, only the first $95,000.

$100K - 34%
$5 mil - 34.82%

Made a serious error in my quick and dirty spreadsheet for last time that inflated both %s

The standard income tax for $100,000 would be 28%. The standard income tax for $5million would be 35%. I should specify that this is for "single" designation. Either way, $100,00 and $5million do not pay the same percentage in taxes. Not if both are standard income taxes.

Taxes are marginal!

So at $100K, income taxes are a much lower percentage (much less than 28% even, ~22%). If you show me how to opt out of FICA and Social Security, then I won't count them in my payroll taxes to the fed. Until then, they are just shifty income taxes since they're based on income up to a max of $102K.

34.63% with fed payroll, 21.98% just income

The 5M person is 34.8% with all fed and 34.7% with just fed income.

See the huge difference SS/FICA and its cutoff make in tax output for middle class?

It makes the comparison unfair if you don't include SS and FICA.

Ignoring most of the taxes is how people claim we have lower taxes than other countries. They only include federal income tax, and neglect to mention FICA/SS, state income taxes, state sales taxes, import tariffs, local sales taxes, property taxes, and excise taxes. If you take all of those into consideration, the typical middle class person spends well over 50% of their income towards taxes.

Since you seem incapable of separating the two arguments I will end it with this: SS and Medicare do not go to the general budget and therefore are not included in your tax bracket. Therefore when people talk about how much income taxes they pay, they do not include SS and Medicare.

Either way, making $100,000 a year does not make you poor.


Edited for some serious spelling issues...sorry folks!

Top 50% of Wage Earners Pay 96.03% of Income Taxes

The new line is $5 Million didn't you hear?

I don't get to choose where SS and FICA go, and they're based on income, so they are income taxes. You can say that an income tax isn't an income tax, but a tax that is based on income is an income tax.

And, like I said, the only way you can make the rich look like they pay a higher percentage of taxes is to not count all the taxes everybody else pays.

im still waiting on my stimulus check filed back the first week of april.

Was there a mistake with your mailing?

I think that you think I am arguing something I am not.

I think that the wealthy, and the poor should all pay the same percent. But I don't think that should include SS and Medicare. Why? Because the wealthy are highly unlikely to use those benefits. Therefore the people who will use them, should pay for them. And while you cannot decide where those funds go, they do go to a dedicated fund unlike income taxes that go to the general fund and are used for things like homeland security, parks and schools.

Taxes will never be fair and everyone will always feel like they are getting screwed (because we usually are), but in the end, they are necessary. What would be nice is to see a flat tax. Everyone pays x percent. You make $10, you pay X percent (regardless of if that is income or capital gains). You make $10million, you pay the same X percent (regardless of if that is income or capital gains). No tax breaks, no write offs, no refunds. Nothing. Pay it. It would probably be pretty low. And then the wealthy would complain they were paying a higher $$ amount and the poor would complain it was too much still.

Never ends.