Plans for your second socialist check?

[hutch]

My donating or not has little impact -close to zero- on the hundreds of billions the US government is misdirecting to people that don’t need it...

But am sure I will donate extra to my favorite organization actually helping people

https://risedc.org/programs

[hutch]

well played space!

Another person that doesn’t need his stimulus check but hey free money


Except it’s not really free...your government is borrowing the $ in your name  to give you that check you don’t need

When the $ tanks you will be paying more for imports and if you ever hope to take your family to Europe you will end up paying more...maybe your taxes will have to go up...not to mention inflation... you may believe official statistics that inflation is about inexistent but you will find out at the grocery store you are getting less for your buck..you may wonder why - or maybe it won’t occur to you- but you will spend more for the same groceries

Maybe you think government’s role is to give free money to people that live in million dollar homes in Arlington.. you would be wrong

[Dejecty-hatch lııllı|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl]

Maybe you think government’s role is to give free money to people that live in million dollar homes in Arlington.. you would be wrong

I don't think that's the role, but the percentage of people who get this and live in Million dollar homes....I'd say is small
maybe 5%
Show me some stats

I would gather that close to 90% of those checks go straight back into the economy, support small and big business, stoping foreclosures and the like

Yes not perfect, but I think more equitable than all of the benefits that some companies owned my multimillionaires got and spent on planes and yahchts

[hutch]

How about you get yourself your stats?

I am comfortable saying these checks are  largely a misuse of printing presses...

It’s full of people that have no business getting them

My sister in Philly
My sister in Houston
You
Me

Etc etc

They should target the money to those that need it

Why is this even controversial?

[Julian, Bespoke SEXPERT]

Who are these people living in “million dollar homes” with a total family income of under $150k?

[grateful]

Who are these people living in “million dollar homes” with a total family income of under $150k?

Correct.

[Space Freely]

Who are these people living in “million dollar homes” with a total family income of under $150k?

I had the same thought.

People who have/had financial help from Mommy and Daddy, or people who bought their million dollar house well before it was a million dollar house.

[Dejecty-hatch lııllı|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl]

Who are these people living in “million dollar homes” with a total family income of under $150k?

Correct.

Well they are not buying Million dollar homes, but they could have conceivably bought in the 90s and now their home is worth a million

[hutch]

Regardless helping people who have kept their jobs just fine and have a household income of $150K seems stupid


The help should be targeted to those who have lost their jobs and have much lower household incomes

It’s just a really inefficient way of throwing money around

[Julian, Bespoke SEXPERT]

It’s just a really inefficient way of throwing money around

This is correct although I think the upper band threshold isn’t super far off. Maybe like 60/120k.

[Space Freely]

Regardless helping people who have kept their jobs just fine and have a household income of $150K seems stupid


The help should be targeted to those who have lost their jobs and have much lower household incomes

It’s just a really inefficient way of throwing money around

It's actually adjusted gross income, so probably closer to 200K unadjusted gross.

If not 150K, then what would your cutoff be? 100K? And if so, what percentage of recipients makes less than 100K vs. percentage making 100-150K.

150K isn't that much in the DC area, but it's a fortune in other areas.

[Dejecty-hatch lııllı|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl]

I'm a fan of UBI, so I don't see a problem here
they lowered taxes on billionaires and created an almost 2 trillion hole in the budget
those tax cuts were cited to be able to create tons of jobs and most companies did stock buybacks instead of creating jobs

What happened to the ATM?
I mean that Trump can find ways to pay no or only $750 in taxes...something is wrong with the tax system
when the largest companies pay no taxes either...the tax code needs to be looked at as they are gaming it
https://www.cbsnews.com/news/2018-taxes-some-of-americas-biggest-companies-paid-little-to-no-federal-income-tax-last-year/
60 profitable Fortune 500 companies paid no taxes on a total of $79 billion of profits earned in 2018
Jez, there should be an ATM on these companies on profits, 5% would have put almost 40 billion in tax revenue
and these are profits, not revenue...

[hutch]

One error in policy doesn’t justify another


I am sure government could figure out the people laid off or making minimum wage and up their benefits..

They shouldn’t even be using last year’s income amounts!

What matters is what people are making now during the pandemic not what they made last year before the pandemic

You give people doing ok extra cash and they are going to pay down debt, buy stocks etc

You give it to people struggling they pay rent and buy food

[Dejecty-hatch lııllı|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl]

Senior Democrats drafting plan to give parents at least $3,000 per child in Biden stimulus

[Dejecty-hatch lııllı|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl]

New York hedge fund billionaire Leon Cooperman on CNBC right now lamenting people "sitting at home getting their checks from the government, trading their stocks."