Ask the taxgirl: Second Stimulus Check
Taxpayer asks:
Our first check came and went. I have heard that they are considering sending another one. Do you think that they will send a second check?
Taxgirl says:
No. I don’t think a second check is in the cards - for a lot of reasons, not the least of which is the economy.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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15 opinions for Ask the taxgirl: Second Stimulus Check
The Great b5Media Blog Off: Ask The Tax Girl Marathon
Jun 20, 2008 at 2:42 pm
[…] Ask the taxgirl: Second Stimulus Check […]
angel
Jul 21, 2008 at 5:40 pm
Guess you are wrong what you said about us not getting a second stimulus check! we ARE getting a second one. there are talks about it right this second! we ARE getting a 2nd stimulus check, so you are wrong wrong wrong!! Looks like it IS in the cards!! what other things are you wrong on? geez! how would YOU know anyway? YOU DONT!
Kelly
Jul 21, 2008 at 10:38 pm
Thanks for your, um, insightful comments.
There have been talks about a second check ever since the first one went out… And with a recent poll showing that 78% of businesses saying that the first set (which isn’t even completed yet) didn’t affect the economy at all, I stand by my opinion that it’s a bad idea and I don’t think that there will be more checks any time soon.
I did a quick check around my sources and I don’t see any firm indications that a second check is actually a real possibility. In fact, what I did see was just a week or so ago, Fed Chair Bernanke claiming that it was too early to consider a second stimulus check. I hear politicians saying not much more than Americans would like to see more money. If being wrong on this one puts me on the side of folks like Bernanke instead of short-sighted politicians, I’m okay with that.
Gayla McCord
Jul 22, 2008 at 2:46 pm
I’m one of those who thought the first stimulous was just a smoke screen to divert attentions from the real issue at hand.
Someone up on Capital Hill has a bright idea to get money in the hands of American’s who like to spend - so they would all go shopping and lose sight of the massive mistakes that are occurring in our government and will take generations to fix.
I got mine - donated part to a *NOT* Republican and invested the other by putting it in my kids college bound accounts - didn’t spend a damn dime to boost the economy. Capital Hill can send more, that’s fine - I’ll do the same thing all over again.
Tabitha
Jul 27, 2008 at 11:27 pm
I think that Angel over-reacted a bit. According to what I have read, the “Son of Stimulus” talks are just that. Talks. They are only dicussing the idea, and many don’t think that it will do the economy any good.
People are putting it away in savings because they are scared to spend the money. They think that if the economy is failing they will need to have it later.
I personally just paid off my credit card bills for things that I had ALREADY bought. It didn’t really go into the economy at all.
Plus I’m a college student and any extra money from a second check would just go to pay off my student loans.
I found a good article that was written last week at: http://news.yahoo.com/s/csm/20080721/ts_csm/astim. It was talking about all of the things I just mentioned.
I want to believe that they are going to send me more money. My grandmother and mother are convinced that they WILL. I’ll just wait and be suprised (or not).
Shell
Jul 28, 2008 at 3:05 am
A ’smokescreen’, huh? Well, since the ‘democrats’ are in control in Congress, it just might be. Maybe what they should have stated is we’ll give you the check IF you spend it the way we want you to, but wait, this is America. So, who cares how you spent the money? You spend $ every day! Sometimes, it’s just gas prices and sometimes, it’s for food for lunch, etc. And, forgive me for saying this, but THAT’S what’s wrong with this entire economy… too many chiefs and not enough Indians.
Ask the taxgirl: Second Round of Stimulus Checks
Jul 30, 2008 at 9:49 am
[…] Taxgirl says: This is a popular question! […]
Nikki
Jul 31, 2008 at 5:29 pm
Well I spent the money- every penny! I will do so again if another check is given. I don’t do it to boost the economy, I do it because it is extra money. I have to be responsible with money from work so this is nothing but “sp.lurge” money to me
honeyheart
Aug 1, 2008 at 1:32 pm
Yeah…I got a comment…my stimulus check went for my utility bills and food for my kids and I would gladly take another stimulus check. Must be nice to be able to sock it away for a kid’s college account…for alot of us, it is an immediate need to help keep our noses above water. Some of us live paycheck to paycheck and a stimulus check gives momentary relief. I’ll be praying for another check, saw it on the news they are considering it, smokescreen or not, I’ll take it. I had to quit an out-of-town job because all my extra money & even bill money went in my gas tank to get there. So, BRING IT ON!!!!LOL!!!!
Randall
Aug 1, 2008 at 11:54 pm
It is fact that there have been talks about a second check and even Bush has had a wait and see on the effect from the first round. He touted success but admitted it didn’t do as much as they had hoped. I think it’s possible we’ll see a second check but I’m not banking on it myself. We spent all of ours the same day it came as they had hoped for because saving a measly $900 isn’t going to make or break us if hard times come (not to mention saving money even though it’s a good idea actually harms the economy. don’t spend money= less work= no jobs). Everyone under the sun has a different opinion on whether a second check would help or have no effect but it’s an election year and they want votes and MOST of the public wants money regardless of whether they are conservative or liberal. So it would make sense if they rushed out another round to get voter support.
sharyn alston
Aug 3, 2008 at 9:40 pm
yes my family could definitely use another stimulis
just for groceries. We didn’t even have enough
food to feed our children this weekend. It’s like that often. The situation is getting very old and something needs to be done.
Barbara
Aug 14, 2008 at 11:23 am
i dont know whats even going on i got the news from my sister and i think we should get something reasons being do you know how much money is just setting here in the usa a lot and its not being used for nothin so why not help the americans our country is so in to helping the other countries why not give something back to the americans i have 5 kids and am a single mom so yes this would come in handy and like my other money it goes to my bills leaving me with no money to do things with my kids so i say yes to the 2nd check and if you dont agree just goes to say you have enough and you dont really care but i dont so i say heck yeah so if we get it ill be happy to take it and do something nice with my kids thanks Barbara in Texas speaking my mind
The Check Is NOT In the Mail: A Second Stimulus Package Has Not Been Approved
Aug 14, 2008 at 3:18 pm
[…] that a new stimulus package has been approved. In fact, I’ve been getting these questions for a couple of months now. But the requests for information have recently […]
ShahraniH
Aug 18, 2008 at 2:12 pm
Sheryn Alston!
It’s so nice that you have a computer and can go online your post your comments. Too bad you
need food to feed your kids. Or maybe you were just exaggerating about that. I would really hate to think you would spend money on an internet connection before you bought food for your children. Yes a stimulus check always helps and turning it down isn’t even a consideration for me! But…. I will stop paying every bill except rent and utilities to keep food on my table. Reposess our car, turn off the cable, can live without the internet, and I guess the phones will have to go on hold cause we HAVE to eat.
Shahrani in NY
Gene, Ohio
Aug 19, 2008 at 7:20 am
If the 1st check didn’t get the results desired, I would suggest that a 2nd check would be better spent if sent out right after Thanksgiving. Imagine all that money in the being spent at stores on the Holidays. WOW! Now that would be “stimulating” :)
Gene
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