NEW YORK (CNNMoney.com) - Tax rebates are the centerpiece of the government's plan to stimulate the economy, but many Americans are planning to put the money in the bank or use it to pay off debt, according to a survey released Monday.
A CNN/Opinion Research Corp. poll found that 41% of respondents plan to use their rebates to pay off bills, and 32% will put the money in savings. Just 21% of those polled intend to spend the money, while 3% said they will donate the extra money to charity.
The only thing you are getting is an advance on next years tax return. So whatever you get now will be taken out later. We're robbing Peter to pay Paul.
I agree 100% with Michael Me and Brian, I'm spending the whole wad on Obama, $600 contibution to his campaign. You've more than earned it, my friend. I urge all of you to make some kind of contribution to this great man's legacy. Obama is change I can beleive in.
I'm using the money to add a 16 x 16 sunroom to my home. Hopefully this 1200.00 will triple in a couple of years, if I can ever get what my home is worth.
Hey if 600.00 is going to make a difference, make it a 1000.00 or even 10,000.00
Mike, that is under Hillary's plan, not Obama's. She is the one with the mandatory insurance. He is trying to make it cheaper. Get it right before you try to make a joke.
PA voter, I was considering doing the same with mine – buying Euros. But then I realized...my rebate will buy me like, what? Five Euros? *bada-ching*
WE NEED HILLARY!
Some of us wont even get the $600 rebate check – and we pay majority of tax. The rebate check is unfair for those of us that live in high cost of living state
Mine will go into the bank, although, like Chipster stated above, it will "just about cover the tax bill I just paid."
Wait everyone, don´t spend it too fast...remember me when you file your 2008 tax return....whoever mentioned buying euros, by the time your check arrives in your mail box your rebate check will not even be enough to buy a couple of them.
That's our money the government is so generously "giving" us! Why don't they just make the tax cuts permanent – or for that matter reduce our withholding taxes another few percentage points?
p.s. blogger Laurie thinks we "need Hillary". I believe Hillary wants even more out of our paychecks in taxes. How is that an improvement?>
Im planning on paying my 2007 taxes!