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Before you spend all of that $1000-$3000 check from Gov't keep in mind it is most likely taxable!

Posted on 03/22/2020 12:26:53 PM PDT by entropy12

If I know our gov't that stimulus money will be fully taxable in your 2020 tax return.


TOPICS: Business/Economy
KEYWORDS: 1000; stimulus
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How progressive of our gov't to make sure the rich pay more by giving their tax bracket money back to the gov't.
1 posted on 03/22/2020 12:26:53 PM PDT by entropy12
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To: entropy12

We don’t need taxes to fund the government any longer. We’re just going to print money and have the Federal Reserve buy up the debt.


2 posted on 03/22/2020 12:29:28 PM PDT by PGR88
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To: entropy12

I’ll wait until I actually receive such a check before I assume that it will exist.


3 posted on 03/22/2020 12:29:58 PM PDT by MrEdd (Caveat Emptor)
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To: entropy12

Soaking everyone to pay everyone, seems like the basic government scam to me.


4 posted on 03/22/2020 12:30:49 PM PDT by OttawaFreeper ("The Gardens was founded by men-sportsmen-who fought for their country" Conn Smythe, 1966)
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To: PGR88

That FED is the richest entity in the world by now. Consider how much the country owes them!!


5 posted on 03/22/2020 12:33:08 PM PDT by entropy12 (You are either for free enterprise or want gov't to guarantee your wages.)
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To: entropy12

It would be taxable whether you spend it or not.


6 posted on 03/22/2020 12:35:03 PM PDT by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: OttawaFreeper
-- Soaking everyone to pay everyone, seems like the basic government scam to me. --

Exactly what it is. You'll have to pay back $2 for every $1 (of yours in the first place) that's diverted. It's all debt money.

7 posted on 03/22/2020 12:35:50 PM PDT by Cboldt
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To: entropy12

They should be doing it like the 2001 tax cuts. Then it was a $600 advance on their tax return. In this case, add a $2000 additional standard deduction for everyone who receives a check.


8 posted on 03/22/2020 12:36:06 PM PDT by ilgipper (The mob only destroys. Never creates.)
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To: entropy12

Are the Checks coming from The Central Bank of China?


9 posted on 03/22/2020 12:36:16 PM PDT by Kickass Conservative (Kill a Commie for your Mommy.)
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To: OttawaFreeper
be prepared for govt to pay trillions to corporations and the elite....why shouldn't we rabble get a penny or two?.....

I'm done worrying about the budget....its meaningless....our deficit is meaningless ....

10 posted on 03/22/2020 12:36:58 PM PDT by cherry
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To: ilgipper

where did this $2000 figure come from? I thought it was $1000......


11 posted on 03/22/2020 12:37:56 PM PDT by cherry
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To: entropy12

It is nice, but all but pointless.

People with hourly jobs that are laid off by small business (like 99% of all restaurants and bars) are losing thousands a MONTH.


12 posted on 03/22/2020 12:40:20 PM PDT by freedumb2003 ("DonÂ’t mistake activity for achievement." - John Wooden)
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To: entropy12

This is sad.


13 posted on 03/22/2020 12:40:56 PM PDT by madison10
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To: ilgipper

The $600 was NOT an advance on the tax returns, it was a REFUND generated by decreasing the lowest tax bracket.


14 posted on 03/22/2020 12:43:06 PM PDT by AF_Blue (My decision-making skills closely resemble those of a squirrel when crossing a road)
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To: MrEdd

That sounds like good advise, by the time the well paid crooks in Washington get through chopping it up so there favorite constituents get most of the money nothing will be left for mainstream America.


15 posted on 03/22/2020 12:43:26 PM PDT by cabbieguy ("I suppose it will all make sense when we grow up"can't be counted)
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To: cherry
where did this $2000 figure come from? I thought it was $1000......

It was. Until some genius aide realized more people could be more happy with twice the 'free' money! And if it doesn't get passed soon, I figure it'll go up to $3M, then $4M, and so on... Or, once it does get passed, well, next month everyone's gonna need a repeat cash infusion, so might as well do it again!
16 posted on 03/22/2020 12:43:57 PM PDT by Svartalfiar
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To: entropy12
Why do you post crap?

Have you seen the bill to be voted on tomorrow?

Every Senator interviewed has said "IT WILL NOT BE TAXABLE"!

We don't know how Nancy is going to screw it up before it goes to Trump, but for now, you are WRONG!

17 posted on 03/22/2020 12:46:10 PM PDT by G Larry (There is no great virtue in bargaining with the Devil)
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To: ilgipper

>> In this case, add a $2000 additional standard deduction for everyone who receives a check.<<

I assume you mean people who pay net taxes. If you PAY taxes and owe a little at the end of the year it means you are doing it right.


18 posted on 03/22/2020 12:47:12 PM PDT by freedumb2003 ("DonÂ’t mistake activity for achievement." - John Wooden)
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To: freedumb2003

It all depends on IF Nancy gets enough BABY KILLING Money...


19 posted on 03/22/2020 12:49:21 PM PDT by CMailBag
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To: entropy12

Sending this money to the folks will not solve the problem. Businesses have been destroyed. Millions out of work.

The number of people working productively is way down. That spells disaster.

Taxes will go up. If a dem gets elected, taxes will go up to a level that will make sanders and lizzy smile.

There will be a recession.


20 posted on 03/22/2020 12:54:07 PM PDT by I want the USA back (The US media is the most destructive, mendacious irresponsible institution that there is.)
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