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10-03-2020, 11:46 AM
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Location: Tennessee
32,761 posts, read 27,285,213 times
Reputation: 43118
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Quote:
Originally Posted by Rachel976
Someone who earned $150k last year should have a decent savings cushion. If he doesn’t, he spent more than he could afford.
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If someone is living in an NYC, SF, etc., making barely over $100k, they're ineligible for the stimulus.
I make about $90k in a small city in TN. I just ran a COL calculator in SF - I'd need about $295k (lol..) for the same standard of living.
The $100k there would be about the equivalent to $100k, supposedly. It's not a lot of money relative to the local cost of living. |
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10-03-2020, 12:57 PM
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10,539 posts, read 4,707,433 times
Reputation: 18720
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I think it is time for everyone to adapt to the new reality. No need for more stimulus - the need is for capital to be reallocated from industries and companies that are no longer economic to new industries and companies that are.
Stimulus and unemployment get in the way of that.
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10-03-2020, 02:04 PM
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2,914 posts, read 1,393,307 times
Reputation: 9590
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Quote:
Originally Posted by BJfromVA
I'm curious, Did the last stimulus checks help the economy?
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Not everyone got $$$ last time.
I didn't.
But who cares? ...because I made about 100 (yes, ONE HUNDRED) times that when the stock market rebounded.  |
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10-03-2020, 02:10 PM
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2,914 posts, read 1,393,307 times
Reputation: 9590
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P.S. Calling $$ giveaways in a deflationary environment a 'stimulus' is like giving a glass of water to a man dying of thirst. He is kept alive but he sure ain't going dancing anytime soon.
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10-03-2020, 02:16 PM
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Location: NJ
31,771 posts, read 38,417,420 times
Reputation: 24549
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Quote:
Originally Posted by jonbenson
advantage:
The government would save a lot of money and there would be less debt
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is that really an advantage? the government clearly doesnt care about saving money. it seems that the understanding now is that it doesnt matter how much the government spends. we are just going to see how that understanding plays out. |
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10-03-2020, 02:17 PM
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6,844 posts, read 3,357,313 times
Reputation: 15810
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$100K per individual or $150K for a joint return is a fair cutoff point.
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10-03-2020, 02:32 PM
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4,479 posts, read 2,957,752 times
Reputation: 12818
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My AGI is nowhere near $100K and I didn't get any checks. There seems to be some misconception that everyone got those checks regardless of income.
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10-03-2020, 02:40 PM
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671 posts, read 593,630 times
Reputation: 842
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Quote:
Originally Posted by Rachel976
Someone who earned $150k last year should have a decent savings cushion. If he doesn’t, he spent more than he could afford.
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I completely agree. $1200 amounts to 1.2% gross income for an $100k earner and 0.8% gross for someone at $150k. If that's their lifeline the haven't been managing their money well even in a hcol area. |
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10-03-2020, 02:40 PM
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2,540 posts, read 1,453,863 times
Reputation: 4045
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Quote:
Originally Posted by KCZ
My AGI is nowhere near $100K and I didn't get any checks. There seems to be some misconception that everyone got those checks regardless of income.
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why didn't you get one? |
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10-03-2020, 03:09 PM
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2,914 posts, read 1,393,307 times
Reputation: 9590
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Quote:
Originally Posted by bobspez
$100K per individual or $150K for a joint return is a fair cutoff point.
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Sez you.
Lemme guess...  you make under $100k or you don't file a joint return? |
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