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

[Clonefan32]

Cutoff should be $125k income per household and below. That's twice the median US household income. Anyone who makes more than that should not be getting a check.

I'm in the bracket above that and we are responsible savers with a mortgage and a kiddo on the way. We don't need help and live life responsibly below our means

It's a hard line to draw. Everyone's financial situation is different. AGI is probably the best indicator of wealth for this purpose but at the same time it's not always indicative of disposable income. There are expenses that people incur that can't be deducted for purposes of AGI. I imagine there are plenty of people who show income over $125k, don't live extravagantly and will still need some help to make ends meet.

I'm not sure there's a right answer.

 

[BCClone]

There's got to be, what, 100,000,000 adults in the US? The automation it would take to identify each one's AGI, put it through a formula and get them a check is amazing.

I can't remember how this worked during the 2008 stimulus package. What if you don't have a mailing address?

I'm just amazed by the potential logistics of this.

estimated at 208MM actually.

 

[HandSanitizer]

so I didn't read through all this, but would this be based off of last years tax filing? assuming so. If so then that sucks for someone that had a spouse making a lot of money last year, but quit her job to stay home this year. I do feel it should go to those who really need it, but I can't imagine how hard it would be to figure that out in 2 weeks.

 

[Cyclones_R_GR8]

I'll just find some stripper that is out of work because of this and have her give me a bunch of lap dances. That would be a real stimulus

 

[BCClone]

I'll just find some stripper that is out of work because of this and have her give me a bunch of lap dances. That would be a real stimulus

And she can use that to pay her school bill that she dances to pay for.

 

[Halincandenza]

AGI from last year means nothing if you are forced not to work and aren’t getting paid.

 

[Cyclones_R_GR8]

And she can use that to pay her school bill that she dances to pay for.

Just doing what I can to help the leaders of tomorrow.

 

[simply1]

Is it up to $2k yet

 

[dosry5]

Is it up to $2k yet

I read some lawmakers were proposing $4500 per person. That’s bananas

 

[cyfan92]

I read some lawmakers were proposing $4500 per person. That’s bananas

 

[mustangcy]

Goalsetter basketball hoop here i come!

 

[LindenCy]

I read some lawmakers were proposing $4500 per person. That’s bananas

WOW! That is a lot of cash getting doled out.

 

[JP4CY]

WOW! That is a lot of cash getting doled out.

I can't imagine it'll be that much.

 

[3TrueFans]

I'ma be stimulating that economy.

 

[AgronAlum]

So the income level will be based on tax year 2018 then?

 

[3TrueFans]

So the income level will be based on tax year 2018 then?

Link?

 

[BCClone]

So the income level will be based on tax year 2018 then?

Great, I cashed I a chunk of mutual funds to get things positioned for the kids college that year. Well, that screws me.

 

[AgronAlum]

Link?

No link it was just a question I had. How would the government have everyone’s 2019 income data at this point?

 

[AgronAlum]

Great, I cashed I a chunk of mutual funds to get things positioned for the kids college that year. Well, that screws me.

I’m not saying that I read that anywhere. See post above.

 

[Gonzo]

Great, I cashed I a chunk of mutual funds to get things positioned for the kids college that year. Well, that screws me.

Ouch.