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Old 04-10-2020, 01:11 PM
 
Location: Allegheny Cty
1,149 posts, read 1,456,981 times
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There has to be as even if the economy "reopens" alot of damage has already been done. Should be just a monthly Basic Income of $1200 for anybody who filed taxes til the end of the year making less than 75K.

Quote:
The unlucky ones that make over $100k receive NOTHING.
Anyone making over 100K should have some money saved. That's the argument.

Last edited by Marv95; 04-10-2020 at 01:20 PM..
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Old 04-10-2020, 01:36 PM
 
553 posts, read 129,487 times
Reputation: 1509
It's funny that people who earn over 100K are upset that they won't get a stimulus check. Aren't most wealthier Americans against the concept of socialism anyway? Why would they even accept a stimulus check??


Not to mention the fact that people who earn over 100K a year generally have more access to 401Ks than say, person who works at Target or Jack in the Box.
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Old 04-10-2020, 01:44 PM
 
Location: 5,400 feet
3,052 posts, read 2,921,629 times
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Quote:
Originally Posted by BugsyPal View Post
Democrats just handed every breathing adult with a SSN a check for $1200 or whatever, this includes those on SS, SSDI, veterans, homeless, recently incarcerated (or released).
About 31% of households earn over $100K and included are about 16% that earn over $200K. So, at least 16% of households will get zero and some part of the other 15% will see less than $600/person.
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Old 04-10-2020, 01:47 PM
 
2,498 posts, read 2,596,468 times
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Quote:
Originally Posted by BugsyPal View Post
Yes, unless they don't have a SSN or a few other quibbles; yes, every adult qualifies for a check.


Eligibility

"In order to receive the benefit, an individual must have a work-eligible Social Security number. He or she cannot be the dependent of another taxpayer.

The relief applies to both people without incomes and those whose sole income is derived from a benefit program, like Social Security. " https://www.foxbusiness.com/money/co...s-what-to-know


https://www.nbcnews.com/politics/con...hecks-n1177266


What if I have no income?

"There is no minimum income threshold. Even if you make $0 you qualify for the $1,200 payment. But in practice, this will not always happen. Low-income people may not pay taxes or have a Social Security number. People who are unhoused may not have a bank account or fixed address to send the payments to. At least 3.4 million people who qualified for assistance in the 2008 stimulus bill did not receive payment, and that aid had a $3,000 minimum income threshold."

https://www.buzzfeednews.com/article...s-1200-qualify

Those who haven't filed a 2018 or 2019 tax return can do the latter (and federal tax deadline has been extended beyond April 15th to sometime in June) now and get a check. That is unless you run afoul of one of the limited number of disqualifications.
The line I bolded above represents a large number of young adults who at the same time they will not be getting a stimulus check (because they are dependents because parents fund >50% of their expenses) also are shut out of many local temporary jobs (restaurants/internships/etc) because businesses are closed/have reduced shifts. Additionally, along with the guidelines around the current child tax credit, parents aren't receiving money for them as dependents because they are 17 and over.
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Old 04-10-2020, 02:41 PM
 
553 posts, read 129,487 times
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Quote:
Originally Posted by cheapdad00 View Post
The line I bolded above represents a large number of young adults who at the same time they will not be getting a stimulus check (because they are dependents because parents fund >50% of their expenses) also are shut out of many local temporary jobs (restaurants/internships/etc) because businesses are closed/have reduced shifts. Additionally, along with the guidelines around the current child tax credit, parents aren't receiving money for them as dependents because they are 17 and over.
It is going to be very difficult for young adults who are trying to start out life and a career. these days. Add to that problem, that many of them have been mollycoddled most of their lives and shielded from anything unpleasant. We know many people 18-22 who have never worked any job at all. Parents gave them money or they would go online and beg (Go FUnd me) whenever they wanted a vacation somewhere.
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Old 04-10-2020, 11:34 PM
 
23,360 posts, read 16,075,092 times
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Quote:
Originally Posted by ABQConvict View Post
You pay one way or another. Either you pay people to keep their heads above water because the employment scheme, jobs/wages, are inadequate, or you pay for law enforcement, incarceration, and personal protection because you have created a de facto criminal class that can't survive without jobs.
True, but again this scheme is giving money to basically anyone with a valid SSN, is an American citizen and several other qualifications. This is regardless if they have not worked (for whatever reasons) in past one, two, three or more years.



https://www.usatoday.com/story/news/...ut/5112027002/

Note no where does IRS ask "non filers" about source of income, AGI or anything else. Nor do those who haven't filed in whatever amount of years need to file a 2019 or even 2020 tax return.

https://www.irs.gov/coronavirus/non-...ment-info-here
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Old 04-11-2020, 12:01 AM
 
Location: Houston
2,455 posts, read 903,401 times
Reputation: 2152
Quote:
Originally Posted by Marv95 View Post
There has to be as even if the economy "reopens" alot of damage has already been done. Should be just a monthly Basic Income of $1200 for anybody who filed taxes til the end of the year making less than 75K.


Anyone making over 100K should have some money saved. That's the argument.
Do you also feel that corporations should have saved some money? Why are we bailing them, but not working Americans who make let’s say between $75k-200k/yr? The majority of those ppl live in large urban cities where costs of living are often higher to begin with. The bigger point is why is it ok to hate on monetarily successful ppl or those at the bottom of the economic ladder?
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Old 04-11-2020, 07:13 AM
 
Location: Allegheny Cty
1,149 posts, read 1,456,981 times
Reputation: 1327
Quote:
Originally Posted by Hopeful for Life View Post
Do you also feel that corporations should have saved some money? Why are we bailing them, but not working Americans who make let’s say between $75k-200k/yr? The majority of those ppl live in large urban cities where costs of living are often higher to begin with. The bigger point is why is it ok to hate on monetarily successful ppl or those at the bottom of the economic ladder?
I'm against big corporate bailouts; they should be nationalized, including the airlines. Small businesses(which is what most of this money should be allocated to) are another story. They are the backbone.

Compared to the blue-collar working class the people in that bracket are making enough money to the point where they should still have some money saved up rather than going crazy on Starbucks and Legal Sea Foods 5+ days a week. Deal with transit instead of expensive car payments/Uber. It doesn't matter where they choose to live.
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Old 04-11-2020, 11:37 AM
 
Location: Olympus Mons, Mars
6,504 posts, read 9,277,138 times
Reputation: 7025
Ultimately taxes will have to be substantially raised in order to pay for all this debt... since the poor pay no taxes, the lower middle pay close to no taxes after deductions and the rich evade all the taxes this liability will ultimately fall on the upper middle class.

The upper middle isn't getting any checks yet will have to pay for the stimulus via future taxation. So how is this group going to be compensated?
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Old 04-11-2020, 12:23 PM
 
Location: Heart of flyover America
643 posts, read 253,951 times
Reputation: 1222
Quote:
Originally Posted by k374 View Post
Ultimately taxes will have to be substantially raised in order to pay for all this debt... since the poor pay no taxes, the lower middle pay close to no taxes after deductions and the rich evade all the taxes this liability will ultimately fall on the upper middle class.

The upper middle isn't getting any checks yet will have to pay for the stimulus via future taxation. So how is this group going to be compensated?
It won't be paid for by taxation, but inflation. Inflation is always a far more expensive way to pay for government than taxation.
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