Posted on 04/03/2020 6:22:33 AM PDT by artichokegrower
In order to receive their COVID-19 stimulus checks, social security and supplemental security income beneficiaries no longer have to file tax returns, the Internal Revenue Service decided.
(Excerpt) Read more at thecalifornian.com ...
Well, there’s also that $1,200 one-time payment that everyone gets up to certain income limits. That’s what this is about.
Incidentally if you do qualify, you are still much better off going ahead and filing your return. You’ll get the 1200 much quicker.
It's a plan to stimulate the economy by increasing the money supply for all, which will increase aggregate demand, which will increase aggregate sales revenues.
I paid into the system until I was 74. And since the last 8 COLAs put $3 total in my SS check, I could really use the money. My car is 16 years old and inspection is a high stress time and I need cataract surgery on my other eye which has now been put off until fall.
That was not what was decided. If you receive a social security payment that is not subject to income tax then you don’t have file a return to receive the stimulus.
Social Security benefits are taxable unless they are under a certain amount.
In addition, most government workers will not lose a dime so should not get a stimulus check either.
If you believe the income limit is too high, then that is a debate worth having. But a blanket statement that social security recipients should not get a check is ridiculous.
Social Security payments are taxable unless your total income is under a certain amount.
Yes. I know that from personal experience. Many here assume otherwise.
I am 67 and still working full time at an “essential job” agriculture and am not receiving Social Security payments other than Medicare. I still pay plenty into both programs. I will not receive a stimulus check. My point is that those receiving Social Security benefits have not had their income reduced due to the crisis. They are not like the restaurant worker who lost a job and all income and needs the stimulus payment. This program is robbing Peter to pay Paul in a grand scale. Unfortunately Peter in this case will be the grandchildren of these Social Security recipients who will be stuck with the bill
“”” I will not receive a stimulus check. My point is that those receiving Social Security benefits have not had their income reduced due to the crisis.”””””””””””
Untrue. MANY SS recipients work part time jobs to make ends meet. Many of those jobs are gone now.
Plus, if your spouse doesn’t get SS, you need the return done in order to get that $1200.
My Chevy truck is 44 years old & my Buick station wagon is 41 years old. Still driving both.
It is my understanding, and I could be wrong, that the relief package includes a supplement for the unemployed. So, an unemployed restaurant worker will get an unemployment check and a supplement so their "income" essentially stays the same. This is in addition to the $1200 check.
It is likely that there a lot of people who don't need the check but will get a check. There is nothing you or I can do about that.
People who lost jobs qualify for unemployment insurance that will be enhanced by as much as $600 a week, not to mention food stamps etc. The misnamed stimulus is for people to immediately pump cash into the economy .... even though we are in lock down.
I have exactly the same question.
None of which has anything to do with the issue at hand. Enjoy my money. You're welcome!
This stimulus has two goals 1)helping those that are out of work due to the virus 2) help the economy by giving people money to spend. That’s why they are giving it to everyone under a certain income limit. Those people are most likely to spend it.
"In the 8 years Jug Ears was in power, we got NO SS COL increases-—and gas was $5 a gallon.
Apparently, the ‘formula’ for COL doesn’t include gas costs & other daily items.
My current increase added $19 to my prior amount of $1188 to bring me to current amount of $1207. My basic land line phone bill has literally gone up as much or close to as much as my increase!!! AND I am on a ‘senior plan’ with AT & T.
Everything electronic has built in obsolescence and don’t even think about buying a newer vehicle.
Groceries keep going up & up due to union worker costs, and Obama kicked almost every tire company out of the USA. They went to China, and then Obama added an additional 25% tariff to tires coming from China. A tire I used to buy for $75-80 now costs $130-135. AND- -— They are engineered to NOT last much more than 5 years. IF you have a nail in a tire over 5 years old, the tire shop is forbidden by law to repair it-—it is considered TOO OLD. Thanks Obama.
A new truck is over $65,000 and while they might get better mileage than my current truck, registration & insurance more than makes up for those savings. Plus- my current vehicles DO NOT have computers running everything, so I can actually work on it with help from a neighbor. Neither of my vehicles have the fuel pump INSIDE the gas tank. They both have pumps bolted to the outside of the engines. Getting a fuel pump replaced in a current car can run well over $500. Tank has to be REMOVED from vehicle. 1979 Buick station wagon with 403 Olds engine needed a fuel pump 3 years ago. Cost me $22 at Summit Racing Parts, and took about 1 hour to change with neighbor doing most of the labor.
Obama changed us all over to HD TV-—which meant that the TV in my bedroom- living room- & office didn’t work without a ‘converter’. Left me & others without communications of news. Last ‘converter” I bought lasted only about 13 months. Not much of a value.
Trying to stretch the SS check every month is a giant juggling act some months. AND-—I am a life long bookkeeper!!!!"
It is not just "working folks" that are hurting.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.