Stimuus payments

[oeb11]

Originally posted by Tiny:
Some of it will get to people who need it. But more will go to people who don't. I posted on this elsewhere -- the cutoff is based on the average for a household. So say you have some guy who pulls down $350,000 a year. He has a stay-at-home wife and three kids, so that's 5 people total. Average income including his toddlers is $70,000 per year. That family is below the $75,000 per person required to receive the check. So they get $10,000, being $2,000 per person.

As McConnell says, this is welfare for the wealthy. With national debt in excess of 100% of GDP and a huge budget deficit -- only World War II would rival our current defict -- we've got no business handing out free money to people who don't need it.

And as Summers said, the economy doesn't need it.



While i agree with the criticisms of the proposed payment - Tiny - you are incorrect in your basis for payment posted above - payments are based on AGI - Adjusted Gross Income - not averaged out by the number of people in a family. it is true that , if under the cutoff income levels for payments , children may make one eligible for additional payments.

Who could qualify for a second stimulus check

Qualifying group Covered in final law
Individuals An AGI of less than $87,000 Head of household An AGI of less than $124,500 Couple filing jointly An AGI less than $174,000 Children under 17 years old $600 apiece, no limit on number of children Families with noncitizen spouse Provided they meet other qualifications US citizens living abroad Yes, same as CARES Citizens of US territories Yes, same as CARES, with payments handled by each territory SSDI and other tax nonfilers Yes, but may require an extra step to claim (more below) Incarcerated people Initially excluded under CARES Act but now included People who owe child support Excluded under CARES, but included in bill Disqualified groups Not covered in final law
Non-US citizens Qualifying "alien residents" are currently included under CARES Noncitizens who pay taxes Not included if no US citizen spouse


https://www.cnet.com/personal-financ...600-2000-more/
https://www.cnet.com/personal-financ...nd-more-facts/


Please check the references - Sorry - i don't know why the graph - which is clearer - won't print/reproduce here.

[LexusLover]

... we've got no business handing out free money to people who don't need it.

#1: Who is "we"?
#2: Bitten/Obaminable were handing out "free money" to pay for the exorbinant health care premiums they drove up with their "free" healthcare program aka "Obamacare" ....
#3: If it's paid to TAXPAYERS .... it was "their" money in the first place.

Why do the terrorists in the Middle East get "free money"? And WTF does that have to do with "Covid19" suffering in the United States?

[Ripmany]

It drop in buck 2k or 600 compare to the pork that attached

[Yssup Rider]

So many questions based,on so little information.

No wonder these discussions devolve into feces flinging matches.

Please try harder this year, oeb11.

And watch out for the sharknado.

[LexusLover]

Originally Posted by Yssup Rider

So many questions based, on so little information

Why do you ask questions? Oh, I keep forgetting. You're a "know-it-all" expatriate living off the Canadian tit supported by the U.S.

Now that President Harris will be passing out treats ... I guess you'll come crawling back seeking your "fair share"!

[Ripmany]

Originally Posted by Yssup Rider

So many questions based,on so little information.

No wonder these discussions devolve into feces flinging matches.

Please try harder this year, oeb11.

And watch out for the sharknado.

Reminds me of nappy roots life a b song

https://genius.com/Nappy-roots-lifes-a-bitch-lyrics

[Yssup Rider]

Originally Posted by LexusLover

Why do you ask questions? Oh, I keep forgetting. You're a "know-it-all" expatriate living off the Canadian tit supported by the U.S.

Now that President Harris will be passing out treats ... I guess you'll come crawling back seeking your "fair share"!

So far, you’ve been wrong about most everything since I was in Buster Browns.

However, I did see that they landed the same 10-foot nurse shark twice off of South Texas beaches.

How did it ever get there from I-10?

[1blackman1]

Originally Posted by oeb11

Trump supporters are dumb AF fuck"

Here is the reason he’s wrong so much.

[DesWad]

Our elected leaders hard at work there. smh. Hopefully the Democrats on here take note of what their elected leaders are lobbying for.

Lots of talk on this board, and other areas about Republicans being right, Democrats are right.. bla bla bla the next civil war will be Republican vs. Democrats. bla bla bla.

Our nation's people need to rise up to overturn D.C. How this carries out I dunno. It will take a likeable leader among us with money and power to defeat these One World Power obsessed sick idiots.

[Tiny]

Originally Posted by LexusLover

#1: Who is "we"?

#3: If it's paid to TAXPAYERS .... it was "their" money in the first place.

"We" is the taxpayers, like me. I don't have a problem forking over reasonable unemployment benefits for Strokey when he lost his job because of Covid. I do have a problem paying you $2,000 so you'll have the coin to bang another 5 or 10 providers.

Total Covid relief, mostly "stimulus" to individuals and business, approved by Trump and Congress over the last 9 months is around 3.6 trillion. Individual income taxes raise about 1.75 trillion a year. Some of this 3.6 trillion was needed, some was not. Either way people who actually pay taxes, like me, are going to get fucked. I'm not going to get $2,000, and I'm going to have to shell out a lot more than $2,000 to pay for this. Call me selfish.

You didn't used to think like this. You were at the front of the pack complaining about redistributive socialism under Obama. You're suffering from TBS (Trump Brainwashing Syndrome.) Seek help.

[Tiny]

Originally Posted by Ripmany

It drop in buck 2k or 600 compare to the pork that attached

Originally Posted by LexusLover

Why do the terrorists in the Middle East get "free money"? And WTF does that have to do with "Covid19" suffering in the United States?

Trump had every opportunity to demand that more pork be removed from the Omnibus Spending Bill when Mnuchin, Pelosi, McConnell, etal were negotiating it. He didn't. He was too busy watching Newsmax and playing golf to get involved. So now we have another pork laden monstrosity.

But you know what, all that pork combined doesn't light a candle compared to the 463 billion in additional money that Pelosi and Trump want to distribute regardless of employment status and need.

Despite his protestations about Middle East pork, I bet LexusLover is a big supporter of the 5 billion or so we've been paying the Israelis and the Egyptians for the last 40 years so they wouldn't kill each other. That's the biggest component of foreign aid.

[Tiny]

Originally Posted by oeb11

Originally posted by Tiny:
Some of it will get to people who need it. But more will go to people who don't. I posted on this elsewhere -- the cutoff is based on the average for a household. So say you have some guy who pulls down $350,000 a year. He has a stay-at-home wife and three kids, so that's 5 people total. Average income including his toddlers is $70,000 per year. That family is below the $75,000 per person required to receive the check. So they get $10,000, being $2,000 per person.

As McConnell says, this is welfare for the wealthy. With national debt in excess of 100% of GDP and a huge budget deficit -- only World War II would rival our current defict -- we've got no business handing out free money to people who don't need it.

And as Summers said, the economy doesn't need it.



While i agree with the criticisms of the proposed payment - Tiny - you are incorrect in your basis for payment posted above - payments are based on AGI - Adjusted Gross Income - not averaged out by the number of people in a family. it is true that , if under the cutoff income levels for payments , children may make one eligible for additional payments.

Who could qualify for a second stimulus check

Qualifying group Covered in final law
Individuals An AGI of less than $87,000 Head of household An AGI of less than $124,500 Couple filing jointly An AGI less than $174,000 Children under 17 years old $600 apiece, no limit on number of children Families with noncitizen spouse Provided they meet other qualifications US citizens living abroad Yes, same as CARES Citizens of US territories Yes, same as CARES, with payments handled by each territory SSDI and other tax nonfilers Yes, but may require an extra step to claim (more below) Incarcerated people Initially excluded under CARES Act but now included People who owe child support Excluded under CARES, but included in bill Disqualified groups Not covered in final law
Non-US citizens Qualifying "alien residents" are currently included under CARES Noncitizens who pay taxes Not included if no US citizen spouse


https://www.cnet.com/personal-financ...600-2000-more/
https://www.cnet.com/personal-financ...nd-more-facts/


Please check the references - Sorry - i don't know why the graph - which is clearer - won't print/reproduce here.

You've had different proposals from Nancy Pelosi and Donald Trump. And DPS Bernie Sanders and RST Josh Hawley are co-sponsoring a bill in the Senate too. I haven't read up on their proposals, and don't know how Cnet is calculating their numbers.

What I got came from the Wall Street Journal, and I'll repeat it below. The $350,000 would presumably be what Nancy Pelosi proposed.

DPS = Democrat, Progressive, Socialist
RST = Republican, Socialist, Totalitarian

$2,000 Checks for the Affluent
December 31, 2020

Schumer and Trump want to write checks to the non-needy.

Donald Trump and Chuck Schumer keep demanding another $2,000 in relief checks for their own political reasons, but it looks like Senate Majority Leader Mitch McConnell may hold them off with some crafty political maneuvering. He’s also right on the policy merits.

Mr. McConnell has linked the $2,000 checks to Mr. Trump’s other demands to repeal a liability shield for big tech firms and establish a commission to investigate voter fraud. Democrats don’t like the latter two provisions, so a bill with all three isn’t likely to pass the Senate. This betrays that Democrats are merely using the $2,000 checks to help the Democratic candidates in the Georgia Senate runoffs next week.

Mr. Schumer wants the Senate to pass the bill the House passed earlier this week with the $2,000 checks. The Senate Finance Committee staff has examined the details of both the House bill and Mr. Trump’s proposal, and it turns out they’re even worse than we thought in flowing to affluent Americans.

The House bill would increase the $600 checks to $2,000 ($4,000 for joint tax filers) with another $2,000 for each dependent regardless of age. All told the House bill would provide benefits to a family of five making up to $350,000 a year. The cost would add $463.8 billion to the national debt in addition to the $165.7 billion in checks that passed Congress this month. In other words, Democrats want to burden future taxpayers to write even bigger checks to affluent families today.

Mr. Trump’s proposal is somewhat less spendthrift in leaving payments to children age 18 or younger at $600. But he would still provide benefits to a family of five earning up to $266,000 a year and add $315.5 billion to the debt.

Mr. McConnell called this “another fire hose of borrowed money that encompasses other people who are doing just fine.” The bill that has already passed Congress is better targeted at the unemployed and low-income workers with more cash, more food stamps, more child-care subsidies, and higher jobless benefits.

Even some Keynesian economists who aren’t entirely in the Democratic tank are opposing the $2,000 checks as poorly targeted and unneeded given the pace of economic recovery and vaccine deployment. (Tiny's Note: Lawrence Summers, economic advisor to Obama and Clinton, is firmly in the Democratic tank and he thinks this idea is bull shit too.) The press loves the new Trump-Schumer condominium, but Mr. McConnell and Senate Republicans are better serving the country this year and into the future.


https://www.wsj.com/articles/2-000-c...nt-11609371467