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Is this suppose to stimulate the economy or to help people who were not allowed to work during the quarantine?
If the latter, then why not target those people specifically, instead of sending checks out to everyone? A lot of people are working from home, or have jobs that are not impacted, or are wealthy. Why send these people $1000?
I was of the impression it was the latter. Which would mean people could pay utilities, buy food, might help cover rent/mortgages (depending on housing costs of the area).
I also "got" this from the proposition.
I'm lucky in that me and the spouse are continuing to work so we'll likely just pay off one of our credit cards (just bought some furniture with it so the $1k will pay off the balance quicker than the month I was going to pay it off). If the money comes after I pay off that card, I'll use it to pay our property taxes so that will free up some money for other spending to "stimulate" the economy.
But I know a LOT of people right now who are not working due to self-isolation policies in the State of Ohio and they need that $1k to pay their rent/utilities, food/groceries, etc. I'm hoping by the end of April everything will begin to normalize.
If the latter, then why not target those people specifically, instead of sending checks out to everyone? A lot of people are working from home, or have jobs that are not impacted, or are wealthy. Why send these people $1000?
I'd read somewhere that they are going to cap it based off of income. The debate I saw was whether it could be capped at $75,000 a year (meaning if you make more than that, as I do, no check for you), or $100,000 a year (meaning I would get a check, since I don't make that much.)
The $1,000 may be "pennies" to some people, but it's "$1,000's" to those really in need! Come on people, quit questioning and bashing EVERYTHING our president does!!
If the latter, then why not target those people specifically, instead of sending checks out to everyone? A lot of people are working from home, or have jobs that are not impacted, or are wealthy. Why send these people $1000?
Because its OUR money too. It would take months to determine who is "not impacted" or is not unemployed. The cash needs to go out now to have any impact and to help people who work "paycheck to paycheck" and don't have any way to feed themselves. I doubt most did not get any notice that their job was about to end so that they could prepare.
The money could be "clawed back" at the end of the year using the tax code. There could be a question such as "Where you unemployed for more than X number of days due to the Chinese Flu?". If you answer, "no", your tax liability would be increased by $1000.
It does seem like a ridiculous proposition to send everyone $1000 but for many it could be a life line they can use to get them through this tough time and on to next months round of bills without falling behind.
I heard a stat recently that something like 60% of people don't have $400 saved that they could use for an emergency and that is rather shocking so this $1000 could be a real windfall for them. One does have to wonder for these people that fall into that 60% if they will spend the money on things they really need like food, rent or if they will buy a carton of smokes, a large screen TV, booze and a pile of scratch tickets?
I think the $1000 is meant to help people not so much the economy.
All the Trump supporters will keep Budweiser going. A thousand dollars will buy 60 cases of Budwiser. That will last about 4 months at 2 six packs a day, just in time for the second check that will carry them through the election. Who says you can't buy votes
It will also buy about 6000 rounds of 9mm ammo. Either one would keep them happy.
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