Checks coming per Sec of Treasury
- Thread starter bigmac76
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VanPastorMan
Hall of Famer
VanPastorMan
Hall of Famer
So you like Skyline too? That is the second thing we agree on. Before you know it I will be voting for Biden. lol I hope you and your family are doing ok. These are days when we need to be united. This virus is attacking our elderly and having an impact on our economy. It is getting real out there.
VanPastorMan
Hall of Famer
We got pizza last night at a local joint by picking it up. They don't have anyone eating in the restaurant.
Hah. Not true at all. I'd bet you both would agree it will be a great day when IU hangs that 6th banner. In fact, if it would guarantee a banner within a couple of years I'd also bet you two would meet and streak around Showalter Fountain. If you wouldn't then you're not true fans.
I’m confident I won’t be getting one ... but then again ... I’m not the person they are aiming for with this. Not saying I am not impacted and may be even further that I know of today ... but don’t anticipate seeing one of these checks.
VanPastorMan
Hall of Famer
I think you are right. As baptists we can't drink but there is no prohibition on streaking.
I heard on the radio they asked for $25M in loans and $25M in grants. Screw the grants. They took all their tax break money and used it for stock buybacks. If they need to raise money, let them sell stock. I'd even be okay with the government buying it at a bit of a premium today.
Hourly workers are lectured for not having 3-6 months of expenses saved in an emergency fund. Here we have corporations that received incredibly generous tax cuts. Many very large companies maneuvered their tax liability to zero. Many took the extra cash and bought their own stock only to pump up stock prices.
Are we allowed to lecture them about their financial illiteracy?
Are we allowed to lecture them about their financial illiteracy?
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anon_mlxxvlbug9dpa
Guest
They do have leverage over the government. Unless the US is willing to live with foreign domination of our passenger airlines...
Will be surprised if they don’t win some grants.
Economic stimulus should not be considered now. We have no idea how long we will all be hunkered down. We may not be flying or cruising or gambling for months. However people are out of work now. They need money to pay rent, get groceries, etc. We should expand the current social plans now to help those who need help most. Expand unemployment benefits because we know people are and will be out of a job.
Any industry asking for a hand out needs to prove that the money goes to the employees. No more CEO pay or stock buybacks. Shareholders will survive. The baggage handlers could end up homeless. This is easy right now.
Only $25"M"?
This isn't like 2008 when we had to bail out the institutions that created the crisis.
No real easy answer here, would need to think on this a while. Obviously we've got to maintain a robust, domestically owned airline industry.
VanPastorMan
Hall of Famer
I asked my Deacons about streaking tonight. One said,"Pastor, if you did that you might want to get your resume out there." lol
Let's start the day off, boys & girls, with a little singalong, to the tune of Yellow Submarine.
Can we practise it now?
In the town where I was born
Lived Ol Bernie who leans to left
And he told us of his life
In the land of socialist
So we sailed up to the farm
'Til we found fields of green
And we lived side by side,
In our Bernie Paradise
We all live in a
Worker's Paradise, Bernie's Paradise.
We all live in a
Worker's Paradise, Bernie's Paradise
And our friends are ALL aboard
Many more of them live next door
As the handouts began to flow
We all live in a
Worker's Paradise, Bernie's Paradise.
We all live in a
Worker's Paradise, Bernie's Paradise
If my memory serves me correctly, there were a few of you comrades here, questioning Bernie's plans of giving out handouts like healthcare or education. WTF!
An antithesis of the American Way of Life. Capitalism Forever!
No free handouts in my America.
That's socialism.
No Way Jose!
Hmmm.....
But a free thousand bucks and you are already thinking of where and how to spend it? There are plenty of ways one can describe such behaviour....
Bumper sticker beliefs. The Force is strong with you..... NOT!
Welcome to Bernie's Paradise comrades.
+ My writing format is my homage to the Bernie Believer here.
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It's all about taxes with the Republicans. (This is as of last night.)
They're selling these checks as "tax rebates". Fine. Call them what you will. But what that does is allow them to cut down or out altogether low wage earners (i.e. no taxes paid) or those who didn't file at all.
Republicans Found a Way to Mail Checks and Still Screw People Over
https://slate.com/business/2020/03/...yone-still-found-a-way-to-screw-the-poor.html
They're selling these checks as "tax rebates". Fine. Call them what you will. But what that does is allow them to cut down or out altogether low wage earners (i.e. no taxes paid) or those who didn't file at all.
Republicans Found a Way to Mail Checks and Still Screw People Over
https://slate.com/business/2020/03/...yone-still-found-a-way-to-screw-the-poor.html
Under the plan, the government would provide households an early tax rebate worth up to $1,200 for an individual or $2,400 for a married couple, with an extra $500 for each of their children. (So far, so good). The payments will be based on a household’s 2018 tax return, or if it didn’t submit one, their 2019 filing.
But the checks will shrink for both low- and high-earners. Americans with little-to-no tax liability (aka, poor folks) will only receive a minimum payment of $600, unless they earned less than $2,500, in which case they get zilch. Low-wage workers who don’t have a federal tax return for 2018 or 2019—adults generally aren’t required to file one they earn less than the standard deduction—also won’t qualify for the early rebate. (They could still get it next year if they file taxes for 2020, but by that time it will be a bit late.) Meanwhile, the payments phase down for workers who make more than $75,000, and drop to zero for those making $99,000 and above (double those numbers for joint filers).
But the checks will shrink for both low- and high-earners. Americans with little-to-no tax liability (aka, poor folks) will only receive a minimum payment of $600, unless they earned less than $2,500, in which case they get zilch. Low-wage workers who don’t have a federal tax return for 2018 or 2019—adults generally aren’t required to file one they earn less than the standard deduction—also won’t qualify for the early rebate. (They could still get it next year if they file taxes for 2020, but by that time it will be a bit late.) Meanwhile, the payments phase down for workers who make more than $75,000, and drop to zero for those making $99,000 and above (double those numbers for joint filers).
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anon_mlxxvlbug9dpa
Guest
Yeah I don't see this as a screw over....I see as the govt trying to basically step in a pay wages for a month. If you made $0 in your normal world..... why does the govt need to replace anything?
I'd much rather all the funding go towards much beefier UE benefits.... but the admin is claiming there are issues that would make that take longer. Not sure I buy that.
I am having trouble finding out if this is going to be treated the same as last time. If it is and I just have to send the $1000 back in a year, I am just sticking it into a savings account and make my $10 or whatever. Assuming I keep my job. Otherwise, I might have to spend it. I know a lot of people in their 60s who 2008 forced into retirement. If I lose my job, it could be difficult to get back into IT at an advanced age. We might have another group forced out early when there is great pressure to raise the social security age.
If you are handing out money to help people through a hard economic time, it kind of defeats the purpose if you reduce the amount going to the most needy.
Take out the idea of fairness and just look at it from the policy perspective, are you meeting your goal of helping people get through the downturn by reducing payments to people like restaurant workers while ensuring a (barely) 6 figure earner like me gets $4400 (Married, filed joint, with 4 kids)?
If you are going to hand out money willy-nilly, a waitress probably needs it more than someone in my position.
So if someone only made $5k per year (probably a part time student worker or something) , they should get $1k per month? That doesn't make sense either. And this isn't necessarily a one time thing.... this will likely be a monthly deal until things return to normal.
People will already get unemployment.... so that should replace the first $1k/mo or so for a full time worker.
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anon_mlxxvlbug9dpa
Guest
disagree. It’s meant to be income replacement. Those below threshold don’t have income to replace.
So they are treating it different than the Bush rebates? I have been looking for the definitive answer to that.
Nothing I've seen about the $1200/2400 payment indicates it's anything more than a one time payment. BICBW. Things are still in flux.
Boosting unemployment insurance will also be a huge part of the package. I don't see why the payment and UE funding is being viewed as a either/or. Both seem to have wipe support from all sides.
It right now is a 1 time payment of $1200 right? So for a student who maybe makes $10,000 a year waiting tables and is probably paying next to nothing in taxes, still has to do school virtually, still has to cover rent/bills/etc., yeah they probably need more than I do.
And I am honestly not even arguing whether we should or should not be mailing checks to everyone, I am saying if you accept the premise that these checks should be sent out at all, than why not just give everyone the $1,200?
I think they were at least smart enough to means test it above $100k/$200K for couples (roughly).
I don't necessarily believe that to be true. What is the floor for the $1,200?
And I get it, typical conservative dogma would agree with you on needing to put in before being allowed to take out, but this plan already bucks typical conservative dogma anyway. That's already out the door.
If we are still in lockdown, they fully intend to come back and do this again in a month. Mnuchin and others have said as much.
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The math isn't hard. If you are laid off... you get regular unemployment (which is likely to be increased). Pls you're getting this check.
In your scenario these folks would actually be getting a raise out of this whole situation. That's not the goal.
And this is NOT going to be a one time deal.... if we aren't allowed back to work in a month, they will come back and do another payment.
Yes. Their plan is to come back monthly for new legislation, as needed. The checks are gonna cost about $250b per month.
I expect total stimulus spending to total $2T+
Aren't we all getting a raise out of the deal though?
What you say would make sense if this were some kind of additional unemployment stipend, but its it's not. I am employed (gainfully) and the lockdown is having no impact on my earnings. But based on the numbers we have seen, I am going to get $4,400 (2 adults and 4 children with joint income less than the $150,000)...I do not believe it is going to be recouped at tax time, so am I not getting a "raise" out of the deal too?
If you accept the premise behind the reason for the payouts, everyone below a certain threshold of income should get a check. Once you go down that path, that is where logic leads.
UncleMark said:
It's a miracle! The Chinese virus has accomplished something that nothing has been able to! Congratulations to the Chinese! Congratulations to the virus! And congratulations to both of you!
any consumer bail out will be dwarfed by corp bailouts.
kind of like the tax cut, give the working class $1,000, so they won't complain about giving the investor class, (which is well represented on this board), many times more.
please wait until the working class bailout exceeds the investor class bailout, before disagreeing.
kind of like the tax cut, give the working class $1,000, so they won't complain about giving the investor class, (which is well represented on this board), many times more.
please wait until the working class bailout exceeds the investor class bailout, before disagreeing.
