My mother (Grandma Alice) always said things happen in "threes". I was fortunate enough to win $2 from Grandson Mitchell because I bet the New York Giants would win the Super Bowl! That $2 qualifies as a "windfall".
Then I found out that the government is going to give most tax paying citizens a rebate. Huh? Officially they call it an economic stimulus package. Yep, your mom and I will get a minimum of $300 each and maybe more depending on how they calculate each rebate using the "adjustable gross income" as a guide. So for sure, our household of two will get $600. I feel a little jealous because those of you with families and huge incomes will probably get close to $1200 ($600 each mom and dad) plus a kicker of $300 per child. It almost makes me want to go back in time and have 5 kids at home at the same time (the feeling doesn't last very long). The rebate is based on your 2007 income tax. You must file a return to get the rebate. So here I am again with another windfall (my second). My rules would say I get 10% to piddle away and 90% would go in the bank. Thats what you do with windfalls.
Remember, good things happen in threes. I am now giddy in anticipation of my third windfall. I'm almost inclined to buy a lottery ticket for this weekend. If my mother was right, I stand a pretty good chance of picking the winning number.
Or wait, I just filed my 2007 income taxes. Maybe I made a mistake in calculation and I will get a larger refund than planned! Yeah right.
My problem is anticipating where the next "windfall" will come from. Visions of sugar plums dance in my head.
I do question whether the tax rebate qualifies as a windfall. If I have to pay it back in future taxes, did I really gain anything. As Scarlet O'hara said in Gone With the Wind, "I can't think about that right now, I'll worry about it tomorrow".
Stay Warm,
Love,
Dad