Who benefits from the rebate plan?

By The Associated Press
Saturday, January 26, 2008 | 1 comment(s)

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Here’s how Americans in different financial situations would fare under the rebate plan proposed by House leaders and the White House.

— An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.

— A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.

— A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.

— A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.

— A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by $50 for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by $500 for this family. A $1,300 rebate.

— A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.

— An individual with adjusted gross income of $23,000 and no dependents would get a rebate of $600.

— A couple with adjusted gross income of $184,000 and two children would get a $100 rebate.
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Big J wrote on Jan 28, 2008 6:02 AM:

It appears that if you are not one of the presidents financial biggies,
your kick back is chump change. So what if you default on your mortgage next month instead of today. How much of the last "pay off" do you have left? me either! and i earned a good $0.25 from it too. Write, e-mail,do something to try and stop this incredible waste of money.


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