I think most americands will spend all of it and that is what the government is counting on.

Info directly from the IRS.GOV website.

Q. Is my stimulus payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

It seems to me that it didn't stimulate the economy much in 2001 so I can't for the life of me understand why they are doing it again. Some people I know are using it to buy a foreign car or take a trip out of the country. Not exactly stimulating our economy...

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It doesn't take much to perpetuate the myth "I'm from the government and I'm here to help you".