Posted on 12/27/2020 7:23:50 AM PST by Brian Griffin
Perhaps $2000 could be issued for each SSN holder for whom over $1000 in FICA&SE taxes was paid in four quarters within the tax years 2018-2019 who lacked total state unemployment insurance (UI) income in excess of $6000 in the previous UI quarter at least 30 days prior to enactment. If in excess $6000 but less than $14000, the $2000 would be reduced by 25 percent of the excess.
Payment would done by the claimant's state unemployment office at least three federal business days after electronically filing a 1099-DJT for $2000(or lower amount) with the IRS so duplicate payouts under the plan can be prevented.
State unemployment systems typically have more timely information on the income of employed persons than the federal government.
I am fully aware that self-employed persons will lack UI income. Most self-employed persons have suffered economically and those that haven't tend to vote Republican and pay heavy taxes.
In lieu of a check payable to the claimant, a check payable to the claimant's landlord for $2400 (less the income-based adjustment) plus the claimant's amount of a rent waiver received from said landlord, up to $600, for a total of up to $3000 might be issued.
Alternately, a check for $200 more than the (income adjusted) $2000 amount payable to the current mortgagee if the mortgage was recorded before the start of the quarter.
Domestic governments may appropriately require rental/mortgage claimant participation or issue housing, hotel or motel vouchers to prevent claimant homelessness in lieu of issuing a check to a claimant.
This plan is based on the $2000 amount Trump wants, which is greater than the $1200 the Democrats have long clamored for.
To hand out $2000 or even $600 in stimulus money for each child is silly. The PS5s can wait until mommy or daddy earns the money. Ms. Layabout WelfareMom and her offspring have already gotten lots of federal help.
I believe this plan is a good way to reconcile the extravagant promises our politicians have made. This plan has incentives to pay rents and mortgages.
I like that the amount is adjusted to income circumstances. Still, it’s a huge wallop to the deficit. Another less expensive tool might be debt deferral on long-term debt (e.g., mortgages, auto loans, student loans, etc.) I’d include rent here, too. I’m not sure I’d put credit card debt in it. People who rack up $30,000 on a credit card need to realize just how bad of an idea that is. Companies holding the debt could qualify for relief via existing federal programs. An Executive Order could start/end the program.
Congress’ plan shows they’re unconcerned about our deficits. Loading up more pork than the pittance ($600) they were planning to give their own citizens.
I have no problem asking for $2k with the list of undeserving foreign entities who they want to lavish greater riches.
I’d prefer a clean bill with no pork and paying everyone $2000. You’ll never have a bill that’s totally “fair”. Some will be given to those who don’t need it and others will receive less than they need. But, ultimately, it is still each individual’s responsibility to keep their necks above water. $2000 is more of a life preserver, not a life raft.
End all lock downs and open America backup.
End all pork barrel spending period.
One term limit for all of Congress.
That would still be 10,000 times less corrupt than what the Democrats did on Election Day and throughout the night that followed.
Brian -
Who is going to pay for it?
We all are in many ways. First it will accelerate a currency that will purchase even less. Don’t know if you notice where you live, but things “cost more” where I live. Seems the $5.00 bill is the new $1.00 bill. But things don’t really “cost more”, it’s really correct to say your dollar buys less.
Also, isn’t giving away $600 or $2000 or $####.## just perpetuating the state lock downs on the economy? It allows the governments to continue their flawed and failed (unconstitutional) laws and policies that have brought us to this point? It relieves bad government from getting any political pressure to deal with reality. As Trump stated the obvious in the 2nd debate - the cure cannot be worse than the disease. Look, none of the $#### per person spendulus was passed in August for demonkkkrap political reasons. The 3Q20 had a nice economic recovery, and we are still alive, maybe not generally happy, but alive. Now the governors are slapping all sorts of unconsitutional restrictions on individual liberty again, and this spending bill shall bail them out in more ways than one.
Trump’s may have accepted the (wrong financial) political reality that they are going to spend no matter what, so let’s give it to the Americans. We as a nation cannot continue on this fiscal path.
. g bill will
So was 20 years in Afghanistan, with absolutely nothing to show for it. Well perhaps the CIA has something to show for it, with record poppy production levels.
$6-10 trillion (depending on how you define it) to these stupid pointless wars that did not even touch those responsible for 9/11. And every defense authorization was rubber stamped.
But give a single penny to the American People? "ARE YOU CRAZY?? THE DEFICIT!!! WE CAN'T AFFORD IT!!!"
Helping out those with debt is IMO completely the wrong way to go. Rewarding all the wrong behavior and stiffing those who have been more responsible but are in current need from the lockdowns.
Such micromanaging IMO is a terrible idea.
Also, most unemployment offices, along with missing freelancers, the self-employed who lost their companies, etc., take months to process even the smallest of changes or new programs.
Agree. We could all say there is no justification for wild deficit spending and so on. But we know there is no hope the DC types will reform and not give away our money to others if we don't get any of it. Planned Parenthood and pet pork projects of Pelosi and McConnell won't have to collect returnable beverage cans and bottles.
Mitch will end up with a handshake agreement to give no money to us, and give all those $2,000 check amounts to BLM to make up for white supremacy privileges and slavery. And BLM won't thank him or us for it.
I do not think any relief is due (or good for the national fisc) for anyone who has not lost their job since March 2020, nor any social security recipient, nor any other retired person whose retirement income loss, if any, was greater than their social security income.
If relief is needed it is only needed for persons whose incomes were actually GREATLY impacted by the economic shutdowns and ramifications through the economy due to them.
Everyone in the general public who kept their jobs and otherwise most of their income is not deserving of any “stimulus” in my opinion.
I get out a lot in my local economy. I figure it is my obligation as a retired person with zero financial loss during the “pandemic” to get out and help keep my local merchants in business. I don’t think our grand children, great grand children and others should be made giant debtors to help out our economy now. The pieces should be picked up now by everyone whose incomes have not taken a hit.
Face it, nobody is getting any money. Why? Because the criminals in the Rat/RINO uniparty of treason want their kickbacks and Trump isn’t going to allow them to rip off taxpayer money. I wonder if he could bypass this all and just issue and EO giving the unemployed this money. What does Covid relief have to do with giving $15 million to Sri Lanka so they can buy a high speed cutter boat? It’s obviously a scam, who ever put it in there is expecting a cut
I never thought that war was a good idea either, but that’s water over the dam. What I want is a one-page bill that basically says each US citizens gets X dollars by a specific date. It doesn’t take a bill with 5600 pages to do it, if you leave out the pork Congress puts in, most of which is designed to get themselves re-elected.
Conceptually some good ideas...
However, a complicated formula that most states could never (or would never) implement. If they did, it would take years not months.....
If we are going to push out cash, it’s better just to give it to the American people and let them decide how to spend it wisely.....
It depends on the nature of the debt. Credit card debt is really “unsecured” which is why I would not include it. However, people need a place to live and often transportation to get them to work. Homes and cars are secured. Rent is unsecured, but a lot of people still need help for housing. I think it is the unsecured debt that is the wrong way to go.
Up to 3k per citizen adult. Put it back into the hands from where it came. If someone doesn’t need it, they can give it to someone who does.
Give everybody 50 grand.
Why not just give everyone the cash to purchase the median house in their neighborhood?
AND a POS Caddy SUV.
Don’t even have to print the shiites anymore.
Electronic 1 and 0’s.
They say it’s more efficient.
Bwah ha ha ha ha ha!!!!
Yeah....as if the folks in the lower 70% of earning levels in this country could understand ANY of what you wrote.
Open businesses. That’s all we need to do.
Protect the vulnerable. Wash your hands. Don’t be gross. And open the country.
“To hand out $2000 or even $600 in stimulus money for each child is silly.”
I agree with that part. Many of us have financially stability and do not need this money. My emphasis on on “need”.
Your plan is somewhat complicated, but plausible.
But there is a fairness factor that will come out if money is given only to those with genuine COVID 19 related financial woes. This is what is complicating the issue for the legislature folks. How do they make it fair without being overly complicated?
State unemployment offices can’t keep up with the Covid workloads they have now. Your plan would have much more administrative costs than the current costs. It would require hiring thousands of union paying employees, for which the Democrats would thank you.
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