ADVERTISEMENT

Checks coming per Sec of Treasury

bigmac76

All-American
Dec 23, 2003
6,430
399
83
At the press conference today, Steve Mnuchin divulged $1000 checks will going out to most americans and the finalized announcement will be later today.
Do you plan to spend or save the check?
 
At the press conference today, Steve Mnuchin divulged $1000 checks will going out to most americans and the finalized announcement will be later today.
Do you plan to spend or save the check?
In my opinion, it would be inappropriate not to spend it. Others may be in different situations, but for me I must spend it.
 
In my opinion, it would be inappropriate not to spend it. Others may be in different situations, but for me I must spend it.

Agree. Especially doing it for local businesses. Call the pizza joint and have pies sent over to the fire department. Buy a gift certificate from the sandwich shop. There’s a lot we can all do.
 
  • Like
Reactions: bigmac76
At the press conference today, Steve Mnuchin divulged $1000 checks will going out to most americans and the finalized announcement will be later today.
Do you plan to spend or save the check?

So, who exactly is getting these checks? I'm guessing not me. And not you.
 
Probably give ours away directly to a few local service workers that are hurting.

I don't understand this policy at all
... we can't go anywhere to spend this money..... spouse and I are have no employment issues... we will be spending less/ saving more than normal already since we can't do anything.

Why not just allocate all this money towards beefing up unemployment benefits for those that can't work? Or direct money to small businesses?
 
Probably give ours away directly to a few local service workers that are hurting.

I don't understand this policy at all
... we can't go anywhere to spend this money..... spouse and I are have no employment issues... we will be spending less/ saving more than normal already since we can't do anything.

Why not just allocate all this money towards beefing up unemployment benefits for those that can't work? Or direct money to small businesses?

Wrong headed thinking. I just spent quite a lot at the liquor store. Sheltering in place with the kids home requires day drinking.
 
I suggest you consider a local nonprofit that provides resources to the most vulnerable populations in your community. Think about your local family emergency shelters. The coming recession will be a major hit to these nonprofits and it's likely that our federal government will look to prop up major industry before increasing investment in those critical services.
 
  • Like
Reactions: hoosboot
Why not just allocate all this money towards beefing up unemployment benefits for those that can't work? Or direct money to small businesses?
IIUC, those areas have already been addressed. It's not either/or.
 
Probably give ours away directly to a few local service workers that are hurting.

I don't understand this policy at all
... we can't go anywhere to spend this money..... spouse and I are have no employment issues... we will be spending less/ saving more than normal already since we can't do anything.

Why not just allocate all this money towards beefing up unemployment benefits for those that can't work? Or direct money to small businesses?
I don’t think is to increase money into the economy. I think it’s so people can make ends meet.
 
The coming recession will be a major hit to these nonprofits and it's likely that our federal government will look to prop up major industry before increasing investment in those critical services.
True dat. My wife ran a small United Way nonprofit when 2008/09 hit. It did not survive. The banks and GM did.
 
you really think all citizens will receive $1000 checks? They’ve already said that’s not happening.

It will be a vast majority, but I'm not sure if they will means test and if they do, what the thresholds would be, but I would imagine they would be relatively high.
 
I'll spend it just like all my other money: Cheap liquor and hookers.

Actually I had to buy a Chromebook this week so my seven year-old can access her schoolwork. I also had to cut a deal with my 14 year-old to treat babysitting his sister as a job. That's gonna set me back $75 a week for at least the next month. So I guess he'll be the one buying cheap liquor and hookers.
 
  • Like
Reactions: Bill4411
It will be a vast majority, but I'm not sure if they will means test and if they do, what the thresholds would be, but I would imagine they would be relatively high.

What’s your definition of relatively high? By the time the details are hammered out most of us will find out how wealthy we are.
 
I don’t think is to increase money into the economy. I think it’s so people can make ends meet.

I understand that..... so why not focus it on people that need it to meet ends because they can't work?
 
I understand that..... so why not focus it on people that need it to meet ends because they can't work?
Totes agree. I mean I’ll take a check or two (if it’s one per adult), but that is getting saved in case I too turn out to be someone that can’t work.
 
I understand that..... so why not focus it on people that need it to meet ends because they can't work?

He said millionaires will not get it, but it will be tough to draw a line. For example, wait staff may keep working, but at $2+/hour with tips on carryout where too many cheapskates won't tip is someone that needs help even though not unemployed.
 
  • Like
Reactions: largemouth
He said millionaires will not get it, but it will be tough to draw a line. For example, wait staff may keep working, but at $2+/hour with tips on carryout where too many cheapskates won't tip is someone that needs help even though not unemployed.

I sure didn’t get my 2008 government check for $600 and make nothing close to a million dollars a year. I’ll not see this one either. But whatever. I’m merely pointing out that not “all citizens” will be getting $1000 checks. Far from it.
 
He said millionaires will not get it, but it will be tough to draw a line. For example, wait staff may keep working, but at $2+/hour with tips on carryout where too many cheapskates won't tip is someone that needs help even though not unemployed.
Best way would be to send it to everyone and then sort it out later with your tax return. That's appropriate since the need should be based on your 2020 income not what you might have made last year. I have a friend who makes great money as an experienced waiter at a very high end restaurant. He probably made 6 figures last year, but obviously won't come close to that for 2020.
 
Helicopter-Money.jpg
 
Probably give ours away directly to a few local service workers that are hurting.

I don't understand this policy at all
... we can't go anywhere to spend this money..... spouse and I are have no employment issues... we will be spending less/ saving more than normal already since we can't do anything.

Why not just allocate all this money towards beefing up unemployment benefits for those that can't work? Or direct money to small businesses?
Might be rent and utility money for a lot of folks who've been laid off . . .

. . . I like your idea to give it away to some other folks who are hurting. That or a charitable donation will be on my list . . . the last time the government sent out checks (during the Great Recession) MrsSope and I - collectively - got $600 and we turned it over to a charitable organization that was serving a timely need at that point . . . though I can't recall what it was. The money barely hit our bank account before it was in better hands.
 
Best way would be to send it to everyone and then sort it out later with your tax return. That's appropriate since the need should be based on your 2020 income not what you might have made last year. I have a friend who makes great money as an experienced waiter at a very high end restaurant. He probably made 6 figures last year, but obviously won't come close to that for 2020.

That is the second best way, the best way is to send all the money to me and let me decide what to do with it.
 
ADVERTISEMENT
ADVERTISEMENT