Corpusfishing.com

[Rebecca of Sunnybrookfarm]

Been trying to keep up with the latest on the proposed tax credit stimulus package. I purchased last year right at the cut off (April 8th) for the $7500 deal where its an interest free loan you pay back over the next 15 years out of your taxes. Hope it works out, I could use the flow now!

they are also working on House/Senate bills that initially included a $15,000 tax credit that would not include repayment (free!) for houses bought probably from Jan 1 this year to Dec 31 this year. which would make the market go crazy again! however, today looks like they will be scaling it back.

sorry for the politico Tyler, however this tax credit thing could really spurn new boat sales, and more pics on your board!

I know, stretching a little.
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[frayed]

Hot damn, time to upgrade the panga!
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Jeff

Get Busy

[allwheel4x]

If you actually believe any of this is going to finally trickle down to the people,have I got adeal for you on some waterfront property that is eventually going to be dry!

[texmike]

Where is all this money coming from? Oh wait, it's not there yet, but April 15 it will be. OUCH!!!!!!!!
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Diplomacy is the art of saying "Nice doggie" until you can find a rock.
Will Rogers

[ccbobber]

i'm first in line, so, after i get my fair share(to be determined by me) any that is left(if any) goes to the next person in line for their fair share and then to the next person in line. sorry you're not in the right line, but that's business as usual.
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ccbobber

[Rebecca of Sunnybrookfarm]

[Tyler]

[Rebecca of Sunnybrookfarm]

[ironmanstan]

I'm building a new house so what do I get, a $7500 tax credit? Wheres the money for the new boat going to come from?
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I LIKE MINE FRIED.

[JayandCoyote]

I found a little more information on this if anyone is interested.

http://www.irs.gov/newsroom/article/0,,id=187935,00.html

I am not sure why the IRS calls this a "credit". I does not mean the same as when they use "credit" the rest of the time. This seems to be a no interest loan that must be paid back for the next 15 years at $500 per year assuming you buy a house over $75,000. To pay it back you will need to withhold or pay $500 more on April 15th.
This is just more government/IRS crap because it is your money to begin with and they act like this is some great deal and they are doing a big favor for you. It is your/mine/our money that the government takes in the first place! Gotta go, I think I just saw a black hellicopter fly by...

[Rebecca of Sunnybrookfarm]

[allwheel4x]

I shouldn't do this but:I rest my case!There is no free lunch and with the Gov you are lucky if there is any lunch at all!This (LOAN?) is interest free?

[Rebecca of Sunnybrookfarm]

yes, interest free loan, they take $500 each tax season for the next 15 years out of your return (if you're getting one) or you cut them a check for the difference or whatever. the interest free part (sure, I know its mine anyway) was the deal. oh, you had to have bought a house last year, and I think even a first time buyer.

I thought it was crazy too, but I will gladly pay the gov't tuesday for a hamburger today. or like J.G. Wentworth sez on those commercials for annuity loans, "its your money, YOU decide when to spend it."

or something like that.
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[BaitBoy]

Well, I read today where they (the legislature) have set the limit for the 'tax credit' for new home purchase at $8,000 and, yes, it must be paid back. Have any of you written your congressmen and senators? I did. Every single one of them. In Oklahoma they are all republican, save for one up in the way NW part of the state. First, I thanked them all for voting against the first bailout bill, then I begged them to vote against any future bailout bills. However, facing reality with the political persuasion that shall not be mentioned majority they are facing in the legislature, I did put in my own special requests. They all (except for the lone political persuasion that shall not be mentioned) responded positively. The first bailout bill allowed for tax credits for 2007 and skipped to 2009 and beyond for various home improvement /energy saving improvements. We are covered on the new 'fridge we bought last year. The under house insulation (we are pier and beam construction here,) the heavily insulated siding, the doublepane insulated windows and doors - all are excluded because all were installed in '08. I wrote my legislators requesting, even though they were admonished NOT to vote for the bailout, to converse with the majority party to make any tax credits for said improvements retroactive for 2008, the only year that has been left out. They did approve the tax write-off for state sales tax on any new vehicle purchased from sometime in November through 31 Dec 09 - that covers the new truck I bought on 3 Jan this year. They removed the interest write-of the latest version of the bill. That being said, this is not the only bill that will/won't have impact on the economy. I fully intend to, and will, re-write another letter to my US legislators to put forth to their political persuasion that shall not be mentioned cohorts prospective tax credits that will provide incentives for regenerating the economy. Those will include, but are not limited to reintroducing legislation to allow write-offs for interest and sales tax on new vehicles bought from some point last year through the next 3 years, purchase of large ticket items, such as boats/motors, energy saving appliances, vehicles, motorcycles, etc. that will provide manufacturing incentive and will also continue to provide jobs in this country. We plan to put a new metal roof on the house very soon, and if that tax credit/write-off provision is not currently available, then I will include that. We have been doing our damnedest to rejuvenate this economy on our own, with or without benefit of tax credit or write-off incentive, but I guarantee you this - we are awful damn tired of watching billions of dollars of our childrens' futures being spent for 'bonuses' for exceptional performance of nothing BUT underperforming CEOs and underperforming financial sector a$$whole$. I have pulled no punches in my letters to my legislators, and nearly all have been reciprocal in their feelings.

Please, please, please write your legislators and convey your most heartfelt sentiments to them - political persuasion that shall not be mentioned, republican, and independent alike.

What you have spent on those things you like, speaking of big ticket items like cars, trucks, boats, home improvements, new/old houses, appliances, etc. - those things that provide US jobs - ask your legislators to provide and continue to provide tax incentives/credits for them. It is only through continued consumer investment in this country's manufacturing that we can rebuild our economy. A tax write-off for a $10,000 expenditure is usually going to mean a tax savings of $2500. You know damn good and well it is going to be up to each one of us to save and revive this economy. Get your senator and get your congressman to listen to you or they will be replaced by somebody that hears and cares about this country and its citizens. I did. And they heard me. And they will hear from me again and again until they act or get replaced by someone that listens. I'm pi$$ed and I'm not going to take it any more! The web is a powerful thing, and I love using it!

[Rudy]

Looks like everyone can expect a $13 increase in their paychecks each week.