http://www.nytimes.com/2008/01/19/washington/19fiscal.html

Stop sending me checks, just give me a tax credit! The only real moneymaker is the post office and the check printer. (I hate the kicker checks for the same reason)

So just like the kicker check it will go right to my savings account and go unspent. Eventually making it's way into some kind of CD or other wise.

I agree a tax credit would do us better.

My kicker check was spent, helped pay for my daughters music lessons I could not afford otherwise.

Bush: "Here's $800...now stop bothering me."

Chris: we do the same with surprise income like this - sock it away as if it didn't exist. It's a great buffer for those times when something comes up an some emergency cash is needed. Of course, this is exactly the opposite of what Bush wants us to do with it. For him it's "Defeat the Terrorists - Go Shopping!"

I would like to see the credit issued in script, that can only be spent on products made in the USA.

That's "scrip."

Nwokie...
What are you going to buy?? Canned food???

Spam, guns, and some ammo. Maybe a night at Shilo Inn.

Actually Nwokie has a pretty good idea. We buy scrip at my son's school on a regular basis. Anywhere from 4-8 percent of the scrip purchase goes right back to the school.

If every family at every school bought just $25 worth of scrip each week, most school funding problems would be eliminated. Add relatives and other family members, and ordering on line, and schools could build up reserves. It's amazing scrip isn't seen as viable as it really is.

Edselehr- my wife and I keep things pretty simple when it comes to money. If we don’t have it to spend we don’t buy it. We hate debt/credit. We are practically debt free at this very moment. Paid off the house a couple of years ago, been investing at a slow but steady pace.

Today while my wife and I were out shopping the check out clerk mentioned how much food we were buying, half with scrip by the way. We’ve heard this before and my wife said “well its probably because we never go out to eat!” Which is true. She wasn’t complaining just stating fact. It usually takes an act of God to get us to out and have a nice dinner or go to a movie.

Working together in the entertainment field just keeps us from wanting to be entertained ourselves, and having so many meals at home is really comfortable for us. Our entertainment budget per month is pretty low and almost non-existent.

$800, really is nothing in the big picture.

Chris - we seem to be working off of the same financial plan. We have one debt left (mortgage) but the upcoming remodel will run that debt up again, though we have been saving (about $11K in the remodel fund right now). My wife became a scrip junkie when she discovered it last year, she buys at least $100 worth a week. My big scrip worry is that we lose track of all those cards and some dollar value on there gets accidentally lost or tossed.

We splurged on a night out with the kids tonight - a local Japanese restaurant. Quite good.

Edselehr-
Wow you must also be grading some papers if you're up this late.

You know my mom and dad were nickel and dimers. When my mom went back to work while my brother and I were still in college she maxed out her 401k. When she died in 2006, I remember going with my dad to their financial planner and getting an eyeful of their investments. Since mom's death dad has consolidated and is actually making more money now than he did working full time.

And dad didn't start really investing until he was in his early 40s. He's doing just fine.

Someone once said to me "I want to be loaded. Having money means freedom." I can't argue with that statement too much. But how you get there is the real trick.

I'm having so much fun with the work I do that the money just works itself out. I also think having a grateful and positive attitude towards finances is essential.

Not to diminish the more savvy financiers in these parts, but I think Mc74 made a very solid investment. Developing long-term interest in a kid brings far greater dividends than long-term interest in a bank.

That's why our motto at home is "Kid's First".

I couldn't agree more Littlesongs.

I think the point I was making is my wife and I are already doing that with our kids. Not only for their educations and interests (in this case gymnastics and piano lessons) but their schooling.

The biggest investment you can make with your kids is YOU. It's not quality time it's simply TIME.

We are fortunate to have established savings accounts and investments for our kids as we prepare them for higher education, if they indeed choose to go. Our daughter will be in college in less than 4 years our son not that far behind.

I can appreciate a father using the money to give his daughter piano lessons, that is valuable no doubt. It was valuable to me when I took piano lessons. I still enjoy playing today.

Speaking of which, I need to load in the keyboard to the van and get ready to play at church this morning

Agreed here too.

Time matters. Once in a while, you get to have a real conversation, in context, with your kids. Those count more than most anything else does. Good time also builds trust too --very important.

Chris_taylor said:

"If every family at every school bought just $25 worth of scrip each week, most school funding problems would be eliminated."

Huh? I don't have kids in school and have not heard of this... Sounds great, but how does it work? Anybody know if the Hillsboro school districts do this ?

Jr_tech-

Example: My wife and I do most of our grocery shopping at New Seasons. So we buy gift cards (scrip) every Tuesday from the school my son goes too.

Typcially we'll purchase $200-300 in gift cards. They are like those gifts cards you buy from other stores. Each card is worth a certain amount of money. New Seasons will then kick back 8 percent of our scrip order back to the school.

It's money we're going to spend anyway. People who don't have kids can order scrip as well. I'll purchase some scrip for my dad too. I think in some cases you can order on line.

Contact one of the middle schools in your area Jr_tech and see if they have a scrip program set up.

Chris_taylor-

Thank you! We mostly shop at New Seasons too, so I will also check with them to see if they sell the school support scrip cards directly...8% back to the schools is very generous!

Jr_tech, if your district participates, you have a New Seasons in your neck of the woods:

Orenco Station
1453 NE 61st Ave.
Hillsboro, OR 97124

A really great tip Chris!

Add -- Jr_tech could beat me in a footrace too, no doubt. :0)

Quick math:

$25 at 8%= $2 back to the school. x 180 families =$360 weekly x 4 weeks = $1440 per month x 9 months = $12,960

As you can see this adds up quickly on purchases you're going to make anyway.

Jr_tech: I get an email every Monday reminding me about scrip orders. It's nice because I immediately go and write a check. Also that email comes with a PDF of the scrip order. So I have no excuses.

If you don't use the scrip, keep ordering per week so you'll have extra during holiday's and summertime.

Very interesting CT! With Baby M not being in school yet, I didn't know about this either! I'm going to check it out as well. I love New Seasons, but I have to resist the candle/toy/girly beauty/geegaw sections. I'm like a magpie drawn to that all that fun stuff, when I really just went in for healthy FOOD!

(Though I found that if I take Baby M with me that it's not a good idea, or even possible, to dawdle too long)

Uh... I already spent the money when I saw the headline of the thread. That's not good.

I wasn't aware of this $800 tax rebate until somebody who was very upset about this gave me an earful about it. Her objection was that these refunds would simply add to the national debt.

Unfortunately, I can't think of a way to practically implement the restriction that the $800 only be spent on American products that someone suggested above. If there were some way to pull this off, that would be really great: the $800 virtually couldn't go towards consumer electronics, clothing, or knick-knacks. However, it could go into some things that would put the money into the local economy, such as meals, entertainment, music lessons, home maintenance contractors, etc.

Here's how to solve the problem:

$800 rebate for single earner, $1600 rebate for married. Income caps to qualify for the rebate would be $100K for single earner, $160K for married. This way, the tax credits are given to the people who will spend this money back into the economy. And since I don't like adding money to the national home equity line of credit called the national debt, I'd make the rebate revenue neutral by adding a 7th tax bracket of 35% for earnings over $600K (currently it's 34% for anything north of $357,700). That's a 1% tax increase for the $600K+ crowd, and a crowd that can withstand a slight increase in taxes and still be just fine.

mrs m sez: "Maybe a night at Shilo Inn."

LOL!


I just spent $62 for my daughter's western africian drumming lessons. $738 left.

Wht about scrapomg all talks currently on the table with maybe an exception of expanding unemployment benefits a bit for those unemployed and upping Food stamps benefits a bit for the poor. Then at this point give American's and companies a break on gasoline taxes for however needed to stimulate the economy that way instead of cutting a check directly. Maybe a moretorium of sorts on all gas taxes on the federal level for a quarter?

Disclaimer: I don't drive but am a food stamp reciepent.

"Wht about scrapomg..." "Disclaimer: I don't drive..."

Probably a good thing you don't drive, Shy! ;)

Skep, just to clarify, that's what Okie was going to spend it on, not me.

Ours is going straight to the freakin' gynormous vet bill my beloved dog incurred in December. (But was worth every penny)

Mrs M., I know . . . its just amazing to me that some people think of Mark Hemstreet as a great American hero.

Hemstreet is a class A jackass.

Mark built a bunch of condos right across the street from us in Rockaway and RUINED what was ounce very nice.

Gross. Are they timeshares? Now that's American!

Rentals
Timeshares
Lease
Buy

They've been open for sale for almost a year and they're 75% empty.

People that speculated on coastal property are getting their asses handed to them big time. Especially condos.