Beginning in the second week of May, economic stimulus payments will be mailed to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low_wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.

The objective of the stimulus package is to boost the economy by giving taxpayers incentives to purchase goods or to invest. But many consumers may choose to save the extra funds for a "rainy day" or use it to pay off debts.

 Only time will tell if the economic stimulus payments will really work.

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