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Robert Scott the Economic Policy Institute thinks $1,000 is too low. He says as much as $1,500 for children and $3,000 for adults would make sense, automatically repeated every two months for the duration of the crisis.
All the articles quote "we wont be sending any millionaires checks". 65k is a LOT less than a million. And people who make a lot more than 65k arent millionaires.
A $1,000 payment won’t fully compensate people, but experts and politicians say it’s a good first step to help people buy groceries and pay rent. It works out to the equivalent of one week of pay for the typical American, according to the latest Labor Department data, which shows median weekly earnings of $936 for full-time workers.
Mnuchin said Tuesday that millionaires would not be getting the checks. A Democratic proposal from Rep. Tim Ryan (D-Ohio) and Ro Khanna (D-Calif.) would give at least $1,000 to everyone making less than $65,000. They say that about 75 percent of Americans would qualify.
A Democratic plan from Sens. Michael F. Bennet of Colorado, Cory Booker of New Jersey and Sherrod Brown of Ohio would go even further. It provides $2,000 for every American adult and child plus a $1,500 check in the summer and a $1,000 check in the fall, if the public health emergency continues.
The Internal Revenue Service has many people’s direct-deposit information, given that close to 90 percent of people filed their tax returns online last year. Money could be delivered even faster to a lot of the hardest-hit people if it were sent via Social Security payments to the elderly or via the Electronic Benefit Transfer debit cards that government aid recipients already have.
This Rep Khanna is a disgrace to his constituents! He represents a wealthy district that includes Cupertino, home of Apple, Inc. Who makes less than $65k in this district (homeless ppl)? What a horrible way to ignore the needs of his constituents in a high COL area.
All of whom would continue to receive their social security, disability and military pension benefits. It's the workers that have been disallowed from working that take the hit.
Seems the concept of a fiscal stimulus might be missing you
What happens to poor people whose annual gross income is so low they don't meet the minimum filing requirement? How does the federal government reach this group?
There is no minimum filing requirement. If you have income, you can still file a tax return. Your tax will be zero.
If they put a limit income limit, then they should exclude people has no wage earning. It make even less sense fir someone who don’t work to get more free money.
BTW, 65k in the NE mean most people who Has a white collar job.
Heck yeah, I want mine...........gonna also check on food-stamps and other "programs".
Helicopter money to the rescue!
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