The Motley Fool Discussion Boards

Previous Page

Personal Finances / Living Below Your Means


Subject:  Re: Not everyone gets a tax rebate Date:  6/12/2001  2:40 PM
Author:  numb99 Number:  153053 of 910558

The simple solution would have been to put in the 10% bracket on the first 6K (for single, non-HoH) or 12K (for married) taxable income, have companies adjust wage withholding (starting 7/1 or whenever) to reflect this, and simply have many of us get a refund when we filed our 2001 taxes. Unfortunately, for political reasons the decision was made to issue these "rebate checks".

- - -

What I'm curious about is how much extra the goverment is going to spend to issue the rebate. I imagine that it will be fairly significant to go back through all the forms and re-determine who gets what back.

(Though I also realize that people would get up in arms if the gov't held on to the money until the following tax season without paying interest on it)


Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us