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Stimulus details for those interested-- this is what is going to be voted on:
$1200 per adult for single filing taxpayers, $2400 per adult for joint filing taxpayers, and $500 per child.
Income cap for the full amounts are $75,000 per individual and $150,000 for joint filing couples.
Amounts for incomes above those thresholds will start to taper off at a rate of $5 per every $100 you make over the threshold.
For low income earners who had no tax liability but income of at least $2500, they will receive $600.
All amounts based on AGI for 2018 taxes. If you didn't file taxes in 2018, it will be based on 2019.
I don’t think this is bad. The 150 k for joint filers is a lil high imo. There should be a bonus for disabled etc.... and lower the joint think to 100k
Banks are talking deferred mortgages etc
hopefully this both helps the individual and economy without our children paying too harshly in the future.
I bet this will have an effect on the earned income tax credit and child tax credit in the future.
I know a single mom that works as a waitress for $18k or so, gets like 9k from a tax return and doesn’t even pay hardly any taxes, it’s all gifted tax return money and she needs it and puts it to great use . Pays rent, feeds her 3 kids, clothes them , bikes to work I mean they got nada, if she lost that tax return.... and all those like her...yikes
Crazy how crazy shits got!! A few weeks ago I was obsessively obsessing this and next years skications... watching the fwt, legs were JACKED!!! Was hoping to meet a couple dudes off here. Now bleh , no ski, no snow , no bros , gyms closed, I’m voluntarily not working.
LonelySo I did some research and it looks like if you were considered a dependent in 2018 you will not be receiving this. So most 18-21 year olds will not.
Will the parents or whoever claimed them as a dependent receive the $500 child benefit then?
LonelySo I did some research and it looks like if you were considered a dependent in 2018 you will not be receiving this. So most 18-21 year olds will not.
ok can i ask you about this? i fall into that age bracket (21) and i may be in a rough spot if i dont get that check.
dependent meaning like tax filing terms? bc i have been out of the house and financially independent since 18 and have been paying my taxes each year since. i get my last check today and i have no job because brighton closed. am i gonna qualify?
basically if the government doesn't shell out cash i need to know sooner rather than later so i dont run out of money
Pigeon.ok can i ask you about this? i fall into that age bracket (21) and i may be in a rough spot if i dont get that check.
dependent meaning like tax filing terms? bc i have been out of the house and financially independent since 18 and have been paying my taxes each year since. i get my last check today and i have no job because brighton closed. am i gonna qualify?
basically if the government doesn't shell out cash i need to know sooner rather than later so i dont run out of money
I would operate like I was not going to get it. start giving top for cash or sum shit
Pigeon.ok can i ask you about this? i fall into that age bracket (21) and i may be in a rough spot if i dont get that check.
dependent meaning like tax filing terms? bc i have been out of the house and financially independent since 18 and have been paying my taxes each year since. i get my last check today and i have no job because brighton closed. am i gonna qualify?
basically if the government doesn't shell out cash i need to know sooner rather than later so i dont run out of money
Alright. Here is the relevant section from the actual bill. If someone else (your parents) filed their taxes with you as a dependent you do not qualify as an "eligible individual" and will not get any money.
‘‘(3) ELIGIBLE INDIVIDUAL.—The term ‘eligible individual’ means any individual other than—
‘‘(A) any nonresident alien individual,
‘‘(B) any individual with respect to whom a deduction under section 151 (this is the 500$ for every child thing) is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins.
I totally feel you on this one brother. I could really use it as well.
Pigeon.ok can i ask you about this? i fall into that age bracket (21) and i may be in a rough spot if i dont get that check.
dependent meaning like tax filing terms? bc i have been out of the house and financially independent since 18 and have been paying my taxes each year since. i get my last check today and i have no job because brighton closed. am i gonna qualify?
basically if the government doesn't shell out cash i need to know sooner rather than later so i dont run out of money
If you’ve been paying taxes and no one claims you as a dependent you qualify.
The average American might not be able to sustain their family for long, and prob can’t handle 1000 dollar hit, but that doesn’t mean they don’t deserve $1000, help and a better fighting chance. Whether they are poor from circumstance or dumbass decisions, everyone deserves help and a fighting chance
SavageBiffpopular opinion-
go back to conspiracy theories
The average American might not be able to sustain their family for long, and prob can’t handle 1000 dollar hit, but that doesn’t mean they don’t deserve $1000, help and a better fighting chance. Whether they are poor from circumstance or dumbass decisions, everyone deserves help and a fighting chance
Lmao someone didn't read the article. Also, what conspiracy theories have I peddled?
I combed through it. It was filled with a bunch of what I call , “ no shit “ info.
I still think people need the help, yes a massive, astronomical amount of helps always been around, when I go to the grocer people are going nuts too, lot of ignorance in the population.
JAHpowLmao someone didn't read the article. Also, what conspiracy theories have I peddled?
This one , the one about the birds etc ... I’m all for em , good reads.
I myself am more of an ancient advanced civilization was on earth, from earth 300 million years ago and became extinct and were finding their trinkets inside pieces of coal 👍🏻
SavageBiffI combed through it. It was filled with a bunch of what I call , “ no shit “ info.
I still think people need the help, yes a massive, astronomical amount of helps always been around, when I go to the grocer people are going nuts too, lot of ignorance in the population.
This one , the one about the birds etc ... I’m all for em , good reads.
I myself am more of an ancient advanced civilization was on earth, from earth 300 million years ago and became extinct and were finding their trinkets inside pieces of coal 👍🏻
Wait, are you serious? Are you so stupid you can't tell if something is satire?
SavageBiffSo you do believe Americans deserve 1k$?
I want you to answer those two questions first.
You are proving that you can't tell the difference between something that is so clearly satirical that it shouldn't even require a second thought and me being serious.
Which “thing” are you referring to when you say I can’t tell the difference between satirical and not?
I assumed, everything you type, you were exaggerating and making fun of common thought, and belief , I do it too...
The only thing I thought you were serious about was the Americans don’t deserve $1k , that came off as you believe it
JAHpowI want you to answer those two questions first.
You are proving that you can't tell the difference between something that is so clearly satirical that it shouldn't even require a second thought and me being serious.
SavageBiffWhich “thing” are you referring to when you say I can’t tell the difference between satirical and not?
I assumed, everything you type, you were exaggerating and making fun of common thought, and belief , I do it too...
The only thing I thought you were serious about was the Americans don’t deserve $1k , that came off as you believe it
Obviously the Alex Jones stuff.
Obviously I'm a regular human who can post both satire and non-satire. I don't only post satire, and I don't only post non-satire. Clearly, I need to include a satire trigger warning anytime I post something I'm satirizing.
I am being serious about that post. If I wasn't I probably would've posted it in all caps and included shirtless Jones in a river.
SavageBiffpopular opinion-
go back to conspiracy theories
The average American might not be able to sustain their family for long, and prob can’t handle 1000 dollar hit, but that doesn’t mean they don’t deserve $1000, help and a better fighting chance. Whether they are poor from circumstance or dumbass decisions, everyone deserves help and a fighting chance
Needing and deserving are very different things. Sure a lot of Americans will need that $1000 if/when they lose their jobs since many live paycheck to paycheck and have zero savings, but deciding if they deserve it is a complicated question.
I'm struggling a bit with determining if people losing their jobs this year due to the coronavirus are more deserving of government help than those who lost their jobs a year or two years ago and were left on their own to figure it out? You either help all americans when they need it equally, or you help none, but it doesn't seem very fair to do it that way imo.
Don't take me wrong, I'm all for government support as I believe it should always act as a safety net for its people. I'm convinced that the American taxpayer sees very little return on its tax investment (meaning the US government taxes a lot considering how little it gives back to its people in the form of social security - may that be healthcare, education, unemployment, and any/other type of grants), but I'd much rather see something systematic put in place as opposed to the government deciding to send money when/if it pleases them.
Then the other important question is the one of bailouts, which companies to bailout, when, etc.
"Start with the airlines. Rather than using their profits from the past five years to pay off debts and save for a rainy day, the big four — American, United, Delta and Southwest — instead grew their combined liabilities to $166 billion, all while spending $39 billion on share repurchases. That number, which is only from the big four, is almost 80% of what they’re asking for now from U.S. taxpayers."
Is it the ant's responsibility to bail out the grasshoper? So I love how when things are going well, everyone is against government intervention, "let the free market play", i.e. "don't use my money to help others", but as soon as shit hits the fan, everyone turns into a socialist overnight, and wants uncle Sam's help. It just all seem very hypocritical to me.
Monsieur_PatateNeeding and deserving are very different things. Sure a lot of Americans will need that $1000 if/when they lose their jobs since many live paycheck to paycheck and have zero savings, but deciding if they deserve it is a complicated question.
I'm struggling a bit with determining if people losing their jobs this year due to the coronavirus are more deserving of government help than those who lost their jobs a year or two years ago and were left on their own to figure it out? You either help all americans when they need it equally, or you help none, but it doesn't seem very fair to do it that way imo.
Don't take me wrong, I'm all for government support as I believe it should always act as a safety net for its people. I'm convinced that the American taxpayer sees very little return on its tax investment (meaning the US government taxes a lot considering how little it gives back to its people in the form of social security - may that be healthcare, education, unemployment, and any/other type of grants), but I'd much rather see something systematic put in place as opposed to the government deciding to send money when/if it pleases them.
Then the other important question is the one of bailouts, which companies to bailout, when, etc.
"Start with the airlines. Rather than using their profits from the past five years to pay off debts and save for a rainy day, the big four — American, United, Delta and Southwest — instead grew their combined liabilities to $166 billion, all while spending $39 billion on share repurchases. That number, which is only from the big four, is almost 80% of what they’re asking for now from U.S. taxpayers."
Is it the ant's responsibility to bail out the grasshoper? So I love how when things are going well, everyone is against government intervention, "let the free market play", i.e. "don't use my money to help others", but as soon as shit hits the fan, everyone turns into a socialist overnight, and wants uncle Sam's help. It just all seem very hypocritical to me.
It is. They aren’t idiots. I am sure the virtual guarantee of a bailout factors into every business decision they make. At least during the Bush years there were Republicans saying that we shouldn’t be doing this stuff out of principle because of the terrible precedent that it sets. What happened to them?
Ok so it got approved and now they’re back to the $1200 per person but it will apply to 2018 AGI only if you haven’t filed yet this year. If you filed already it will be your 2019 AGI. That small change completely hosed my family. They changed it also so that if you file separately a head of households income cap is $112,500. A boost for the households who have a stay at home spouse, or for those who file separately it effectively changes their income cap from $150k to $187,500. Wish I hadn’t filed my 2019 taxes yet— oh well. That’s what we get for working a bunch of OT last year.
Sno.Ok so it got approved and now they’re back to the $1200 per person but it will apply to 2018 AGI only if you haven’t filed yet this year. If you filed already it will be your 2019 AGI. That small change completely hosed my family. They changed it also so that if you file separately a head of households income cap is $112,500. A boost for the households who have a stay at home spouse, or for those who file separately it effectively changes their income cap from $150k to $187,500. Wish I hadn’t filed my 2019 taxes yet— oh well. That’s what we get for working a bunch of OT last year.
I think it would have been best to use 2018 for everyone instead of punishing those who filed early (because realistically most people's income slightly increases year over year, so most taxpayers will report higher income for 2019 than 2018).
You realize 1200 to someone making $112k or whatever is like a piss in the ocean imo....
Sno.Ok so it got approved and now they’re back to the $1200 per person but it will apply to 2018 AGI only if you haven’t filed yet this year. If you filed already it will be your 2019 AGI. That small change completely hosed my family. They changed it also so that if you file separately a head of households income cap is $112,500. A boost for the households who have a stay at home spouse, or for those who file separately it effectively changes their income cap from $150k to $187,500. Wish I hadn’t filed my 2019 taxes yet— oh well. That’s what we get for working a bunch of OT last year.
Sno.Ok so it got approved and now they’re back to the $1200 per person but it will apply to 2018 AGI only if you haven’t filed yet this year. If you filed already it will be your 2019 AGI. That small change completely hosed my family. They changed it also so that if you file separately a head of households income cap is $112,500. A boost for the households who have a stay at home spouse, or for those who file separately it effectively changes their income cap from $150k to $187,500. Wish I hadn’t filed my 2019 taxes yet— oh well. That’s what we get for working a bunch of OT last year.
I mean I don't understand why you'd be upset that Uncle Sam turning on the printing press and redistributing the wealth you already hold is going to miss you because your income was too high. The practice overall is fiscally liberal and distastful in that sense, but socially liberal and super helpful to people who need it badly.
I'm still of the opinion that, if we are going to do this and set this precedent...which I'm not super excited about, the income cap should be way lower so they could have sent that money to small businesses and the bottom earners instead.
