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Thread: White House Giving Americans $1,000 Stimulus Checks

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    Featured Member BambiCutie's Avatar
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    Default White House Giving Americans $1,000 Stimulus Checks

    Thoughts?

    https://www.youtube.com/watch?v=MU8dRGg0I60



    "Treasury Secretary Steven Mnuchin said the administration is pushing to send direct payments to Americans within two weeks. (Free)

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    “Americans need cash now, and the president wants to give cash now. And I mean now, in the next two weeks,” Mnuchin said Tuesday at a White House briefing alongside President Donald Trump.

    Mnuchin said the administration will aim not to send checks to millionaires but stressed the need for urgency. He was due to meet Republican lawmakers after the briefing.

    “I think we’re going to do something that gets money to them as quickly as possible,” Trump said.


    Mnuchin also said the government intends to keep stock markets open.

    The administration has not decided on how much to send Americans, but wants the checks to be larger than $1,000, according to two people familiar with the matter.

    It may not be practical to get money to Americans as fast as Trump desires. When Congress sent stimulus checks in 2009 to combat the financial crisis it took more than two months from the signing of the bill to checks hitting the mail.

    It’s quickest and simplest for Congress to send the same amount to every individual person, but still will take months to happen, Marc Gerson, a former tax counsel for the House Ways and Means Committee, said. If lawmakers decide to give more money to lower-income workers, it becomes even more complicated.

    “There are practical limitations with cutting checks,” he said.

    In a further move to relieve financial stress on average Americans, Mnuchin said that individual taxpayers can get a deadline extension on paying taxes of up to $1 million and corporations can defer tax payments of up to $10 million. The deferments can total as much as $300 billion, Mnuchin said, up from $200 billion he proposed last week.

    The 90-day delay gives taxpayers additional time to pay their outstanding tax liabilities without interest or penalties. The White House is encouraging taxpayers to still file by April 15 if they don’t owe the IRS any money."
    Last edited by BambiCutie; 03-17-2020 at 09:19 PM.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    I hope this time they send them to people below a certain income and net worth only, that others are allowed to request loans, and that they'll give them to everyone under those levels, not just tax payers. 30+% of the poorest people in this country pay no tax and work mostly in cash they are the most vulnerable.
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    We'll see if they actually do it.

    Tipped employees could sure as hell use the bump. At least to pay the rent for one month and get some food.

    Then when this blows over they can get another job waiting tables, OR (possibly) return to the one they had to leave.
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    There may also be assistance available locally. For example check out this link if you're in Texas

    https://twc.texas.gov/jobseekers/dis...ofOfEmployment

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    I'll believe it when I see the money. That's not enough though. Some can pay rent and maybe have a bit extra with that but then how can they eat or pay their power bill?

    I'm thankful to already be set up and making money from home. I feel for those who are losing their only income sources.


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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    They need to do more than that. Other countries have suspended/paused utilities, mortgages, rent and travel. The U.S. is great in many ways but I've always felt that its shitty to its citizens in many ways especially given the fact that we are the one's who gives the govt, the economy and many business the ability to run via our money. This pandemic has made me realize how shitty the U.S. really is. Given the amount citizens give in taxes and to the economy we deserves more and better resources. Poorer countries get more benefits than we do. There's no excuse why we shouldn't have affordable; housing, college and healthcare as well as adequate resources in times of national emergencies.
    Last edited by Blovely; 03-18-2020 at 03:52 AM. Reason: corrections


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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Quote Originally Posted by Blovely View Post
    They need to do more than that. Other countries have suspended/paused utilities, mortgages, rent and travel. The U.S. is great in many ways but I've always felt that its shitty to its citizens in many ways especially given the fact that we are the one's who make the govt, the economy and many business run via our money. This pandemic has made me realize how shitty the U.S. really is. Given the amount citizens pay in taxes we deserves more and better resources. Poorer countries get more benefits than we do. There's no excuse why we shouldn't have affordable; housing, college and healthcare as well as adequate resources in times of national emergencies.
    Macron did all the above a few days ago. No one should be worried about rent or utilities during this time.
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    No.

    I’d rather them pay the money direct to my landlord and my utilities company so THEY will pay income tax on any stimulus money.

    $1k is not enough either.

    Should be whatever amount they paid executives for Wall Street bailouts

    And government is slow as hell. Ain’t nothing “free” coming in 2 weeks. If it does happen this money won’t be seen for months.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    It's a drop in the bucket, but probably about the best they can do.

    There are a lot of calls for other action, like suspending mortgage/rent payments, utility bills, etc. But IMHO at the end of the day it simply won't happen because our economy and country are just too vast for the government to be able to finance the fallout.

    If they suspend rent/mortgage payments, the banking sector will collapse and commercial property values will crater. If they suspend utility payments, utility companies will be unable to pay their employees and vendors, leading to potential widespread outages of power and water. We are not some small third-world country with 15 million people in an area the size of a single U.S. state. We have vast lands containing over 330 million people. We have 3,300 utility companies, many of them quite large, covering our vast lands. Our banks are sitting on trillions in our liquid assets.

    Sadly, there are no great answers.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    My personal proposal would be to extend student loan capacity to .... EVERYONE with a SS# who is 18 and over. That is, GIVE $1000 to every house under a certain net worth / income ratio, but extend $50,000 in LOANS to EVERYONE. Yes, that would be a cap of $10,000,000,000,000. Yes, that is a lot. Charge 4% interest. Give the loans preferred status per student loans in bankruptcy proceedings. Make the loans forgivable for extended community service or military service. Collect slowly and easily with deferrals and managed friendly collection.

    You'll say I'm crazy (cause you don't think I know what you've done) but that would work.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    They lowered interest to zero
    companies can borrow at zero cost to get by

    National Grid is not disconnecting service

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    I don't think I am going to get mine, unfortunately. It will go to my parent's address and we are estranged.
    "There are different kinds of darkness. There is darkness that frightens, the darkness that soothes, the darkness that is restful. There is the darkness of lovers, and the darkness of assassins. It becomes what the bearer wishes it to be, needs it to be. It is not wholly bad or good."
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Quote Originally Posted by lynn2009 View Post
    I don't think I am going to get mine, unfortunately. It will go to my parent's address and we are estranged.
    Can't you forward all your mail to where you live now? You can do it online if you're in the U.S.


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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Quote Originally Posted by laurielegs View Post
    Can't you forward all your mail to where you live now? You can do it online if you're in the U.S.
    You're right, I can't believe I forgot about that. I have even used that service before. I owe you like a 30 percent cut. Thank you so much!!! That is going to be such a relief for them not to get my mail anyway.
    "There are different kinds of darkness. There is darkness that frightens, the darkness that soothes, the darkness that is restful. There is the darkness of lovers, and the darkness of assassins. It becomes what the bearer wishes it to be, needs it to be. It is not wholly bad or good."
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    I'll believe it when I have $1,000 in my hands.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    In my business, new orders are down, but we are completing existing orders on time. So, for us this will hit in a few months if orders don't pick up soon.

    Personally, I have my emergency fund fully paid up. I have six months of expenses in the bank and BF has his fully paid up too. We each keep about a month's worth of income in our checking accounts so we don't live pay check to pay check at all. Kiddo's part time job is giving her full time hours right now. She's on "spring break" from school, so she's been working full time. And we had to cancel our spring break trip which was scheduled for April because the school moved break back to last week. But, the airlines and hotels gave us a full credit without any change fees. So, we can defer that expense and use it whenever during the next year. We are debt free, except for our house which is financed at 2.75% APR and due to pay off in 2027. BF and I have deferred new car purchases for the time being. We had planned on getting kiddo a new car for her 16th birthday. She's going to have to settle for a used car. If we get a stimulus check (we probably will be means tested out of it) we will definitely invest in the stock market. Bargains abound.

    HTH
    Z

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Is that for everyone or just those that have jobs that involve w-2's?
    Self employed peeps too or no?
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    From what I've been hearing from others and outside sources, so long as you file taxes you will be qualified to receive the (possible) $1000.
    I am not 100% sure on this, as it is always subject to change, but this is what I could dig up so far..

    (Last updated 2008/2009)
    https://www.irs.gov/newsroom/economi...rmation-center

    1) You or your family has at least $3,000 in qualifying income from, or in combination with, Social Security benefits, Veterans Affairs benefits, Railroad Retirement benefits and earned income. Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.

    2) You and any family members listed on your tax return have valid Social Security numbers.

    3) You are not a dependent or eligible to be a dependent on someone else’s federal tax return. (The same must be true of any family members claimed on your return.)

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    They said middles class Americans will get MORE than low income employees get. They don’t give a shit about the working class.
    Last edited by moneybags; 03-22-2020 at 01:53 AM.

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Quote Originally Posted by moneybags View Post
    They said middles class Americans will get MORE than low income employees get. They don’t give a shit about the working class.
    It's not by income, it's whether or not you filed a tax return for 2018. Anyone who filed 3k or more income for the year will get 1000 in a stimulus check. If you didn't file, it's 600. Stimulus checks taper down starting at 75,000. You get five dollars less for each 100 dollars you earn over 75k.
    "There are different kinds of darkness. There is darkness that frightens, the darkness that soothes, the darkness that is restful. There is the darkness of lovers, and the darkness of assassins. It becomes what the bearer wishes it to be, needs it to be. It is not wholly bad or good."
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    ^^Source?
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    $3000 + check now.
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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    Quote Originally Posted by lynn2009 View Post
    It's not by income, it's whether or not you filed a tax return for 2018. Anyone who filed 3k or more income for the year will get 1000 in a stimulus check. If you didn't file, it's 600. Stimulus checks taper down starting at 75,000. You get five dollars less for each 100 dollars you earn over 75k.
    Okay. Sorry I’ll check my sources better. Im usually really good about that. thank you!

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    Default Re: White House Giving Americans $1,000 Stimulus Checks

    That would be nice but I'll believe it when I see it. It's smoke and mirrors at this point.

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