What Will You Spend Your $1,000 Stimulus On?

[CyArob]

"Recovery checks of up to $1,200 will be put into the hands of most taxpayers, providing cash immediately to individuals and families. Married couples who file a joint return are eligible for up to $2,400. Those amounts increase by $500 for every child. These checks are reduced for higher income taxpayers and begin phasing out after a single taxpayer has $75,000 in adjusted gross income and $150,000 for joint filers. The IRS will base these amounts on the taxpayer’s 2018 tax return. The rebate amount is reduced by $5 for each $100 a taxpayer’s income exceeds the phase-out threshold. The amount is completely phased-out for single taxpayers with incomes exceeding $99,000 and $198,000 for joint filers. The IRS will base these amounts on the taxpayer’s 2018 tax return."

So a family of 4 with joint AGI of $149,999 or less would get $3,400.

Joint filers with AGI between $150,000 and $198,000 would get something but not nearly as much?

Is this the Senate GOP language, still likely to be revised?

They should make it phase out once it reaches a minimum of $50. A person with an AGI of $98,900 it's going to get a $5 check. Just pointless haha.

 

[ISUAgronomist]

Here's the recent draft of the House bill if you want to look:
https://apps.npr.org/documents/document.html?id=6817711-Updated-House-Bill

 

[Raiders70]

To be fair, the companies that are need of bailouts aren't in need because of horrible fiscal management (mostly), but something they couldn't control. This is entirely different than the last crisis in that regard.

True....but huge airline companies can't even last a month without a bailout? That would not be fiscally responsible for an individuL.

 

[alarson]

And individuals could have done the same. Weak argument

Except for the question of means to do that, when half of this country can't even afford a minor emergency.

A lot of these companies were very profitable, and received huge windfalls from the idiotic tax cuts (juicing the economy during good times is a terrible idea), while those the most hurt by this received a pittance if anything. These companies could have built up reserves from their cash on hand, and chose to buy back stocks. Meanwhile most people didnt have a choice at all, because that extra cash wasnt there for there to be a choice to begin with

 

[nfrine]

No one is forcing those companies to take the money. Should have kept a 6 month emergency fund like the expect all of us to do.

Dave Ramsey, is that you?

 

[alarson]

Dave Ramsey, is that you?

Nope, just someone who thinks economic support should go to real people, not corporations. You have to be truly brainwashed to think otherwise.

 

[bos]

Let’s try this since the sign out front obviously isn’t working. If you get political and spew your butthurt here, you will earn a short ban. There are clearly positive ways to discuss the topic, many pages going back proving that. Let’s clean this up and get through this tough time together.

 

[simply1]

The house bill is $1500, is that one time?

 

[DreamyCy]

Nope, just someone who thinks economic support should go to real people, not corporations. You have to be truly brainwashed to think otherwise.

I kind of want the people who lost their job to have a company to go back to... both the people and companies need some sort of stimulus.. but hey that’s just me...

 

[Gonzo]

The house bill is $1500, is that one time?

This is what I found...

Democrats want to further plump the direct payments that would go out to Americans under the bill, proposing $1,500 per person, instead of the $1,200 on the table under the Senate measure laid out Sunday. Unlike the latest plan from Senate Republicans, however, higher earners would have to pay back part or all of the assistance over three years if their taxable income is $75,000 or more for a single filer or $150,000 or more for couples filing jointly. The money would be available to anyone with a tax ID number, and to retirees and people who are unemployed, rather than just to people who file taxes for 2019 or get Social Security.

The House plan also includes monthly payments of up to $2,000 per adult (for individuals who make less than $115,000 and joint filers who earn less than $230,000) and $1,000 per child to buy food, medicine and other necessities “for as long as the crisis and potential recession may last,” according to a summary.

 

[simply1]

This is what I found...

Democrats want to further plump the direct payments that would go out to Americans under the bill, proposing $1,500 per person, instead of the $1,200 on the table under the Senate measure laid out Sunday. Unlike the latest plan from Senate Republicans, however, higher earners would have to pay back part or all of the assistance over three years if their taxable income is $75,000 or more for a single filer or $150,000 or more for couples filing jointly. The money would be available to anyone with a tax ID number, and to retirees and people who are unemployed, rather than just to people who file taxes for 2019 or get Social Security.

The House plan also includes monthly payments of up to $2,000 per adult (for individuals who make less than $115,000 and joint filers who earn less than $230,000) and $1,000 per child to buy food, medicine and other necessities “for as long as the crisis and potential recession may last,” according to a summary.

@80sClone it looks accurate to me

 

[BCClone]

This is what I found...

Democrats want to further plump the direct payments that would go out to Americans under the bill, proposing $1,500 per person, instead of the $1,200 on the table under the Senate measure laid out Sunday. Unlike the latest plan from Senate Republicans, however, higher earners would have to pay back part or all of the assistance over three years if their taxable income is $75,000 or more for a single filer or $150,000 or more for couples filing jointly. The money would be available to anyone with a tax ID number, and to retirees and people who are unemployed, rather than just to people who file taxes for 2019 or get Social Security.

The House plan also includes monthly payments of up to $2,000 per adult (for individuals who make less than $115,000 and joint filers who earn less than $230,000) and $1,000 per child to buy food, medicine and other necessities “for as long as the crisis and potential recession may last,” according to a summary.

Holy cow!!! So my kids, my corps and everybody gets that?? A family of five gets $7k/month.

 

[3TrueFans]

Holy cow!!! So my kids, my corps and everybody gets that?? A family of five gets $7k/month.

I don't think your corpse would get any.

 

[simply1]

I don't think your corpse would get any.

I mean if you don't tell anyone.

 

[demoncore1031]

That guy is stoned out of his mind. I could definitely be friends with him.

 

[BBHMagic]

This is what I found...

Democrats want to further plump the direct payments that would go out to Americans under the bill, proposing $1,500 per person, instead of the $1,200 on the table under the Senate measure laid out Sunday. Unlike the latest plan from Senate Republicans, however, higher earners would have to pay back part or all of the assistance over three years if their taxable income is $75,000 or more for a single filer or $150,000 or more for couples filing jointly. The money would be available to anyone with a tax ID number, and to retirees and people who are unemployed, rather than just to people who file taxes for 2019 or get Social Security.

The House plan also includes monthly payments of up to $2,000 per adult (for individuals who make less than $115,000 and joint filers who earn less than $230,000) and $1,000 per child to buy food, medicine and other necessities “for as long as the crisis and potential recession may last,” according to a summary.

I'm a little confused, is it 1.5k per person or 2k?

 

[Clonehomer]

I kind of want the people who lost their job to have a company to go back to... both the people and companies need some sort of stimulus.. but hey that’s just me...

Since these corporations have shown that they can be profitable in normal times, why not interested free loans instead of bailouts then? That would keep them afloat through this while not letting them benefit again from stock buybacks.

 

[beentherebefore]

Pay down tax debt and/or pay 2019 taxes owed. If anything is left over (depending on how large the payments and how many payments), I will give it to my daughters to help pay for college.

 

[Cydkar]

I won't spend any of it. I'm basically just buying food and paying my monthly nut and that won't change. WTF would I buy? I did order a few pairs of sunglasses on eBay because mine disappeared over the winter but that was pre-stimulus funds.

 

[Gonzo]

I'm a little confused, is it 1.5k per person or 2k?

You and me both.