Posted on 03/25/2020 7:13:17 AM PDT by fatima
According to Senate Minority Leader Chuck Schumer (D-NY), checks would be cut April 6.
Key provisions via Bloomberg:
Big Businesses: About $500 billion can be used to back loans and assistance to companies, including $50 billion for loans to U.S. airlines, as well as state and local governments. Small Businesses: More than $350 billion to aid small businesses, including $10 billion in SBA grants of up to $10,000 for small business costs, and $17 billion for SBA to cover six months of payments for businesses with current SBA loans. Hospitals: A $150 billion boost for hospitals and other health-care providers for equipment and supplies. Individuals: Direct payments to lower- and middle-income Americans of $1,200 for each adult, as well as $500 for each child. https://newslinks.net/details-of-2-trillion-coronavirus-stimulus-package-emerge/
Our Granddaughter helps run a business.Once the gyms closed she had to lay off everyone in the office.Her husband got laid off because of the shutdown.I could go on and on.
True but the leveraged hedge funds incestuous with the Fed will see billions upon billions and never pay a dime.
See my episs_tle in #78.
does anyone know if this is based on
Gross income
Adjusted gross income
or
taxable income
I predict this is going to be yet another governmental cluster$$$$ as they try to distribute this money from 2018 details
Good points. Yes the 1200 is slated for the managers of cooks and janitors, and those learning to code.
Well, well, well. I heard an interview with Kudlow the day before yesterday, where he said this was not going to be another willy nilly 'stimulus' package; it was distinctly a 'relief' package.
Big difference. And all morning I've been hearing from callers to radio shows ... WHAT ABOUT ME???????????
Don’t know yet.
It’s a small price to pay for stopping a massive depression that could go on for years. The pump is being primed so we don’t lose the ability to keep water flowing. You’re seeing this in terms of ‘helping citizens’... that’s only part of it. Money is being pumped into the system to keep things moving...
Spot-on.
Don’t Social Security beneficiaries pay taxes & file income tax returns?
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Many do; many do not. But the payment is not for filing taxes; it is to replace lost income. SS is not stopping payments because of Coronavirus.
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I know. My point, without knowing the details of the bill, was that if they are making payments partially based on IRS tax returns, the IRS will be looking more down toward the “bottom line” and not toward the source of the income. They will be concerned with the total income and won’t be looking at where the income originates.
The IRS won’t care if the income money amounts came from W-2s, 1099s or 1099Rs from IRAs, 401Ks & social security payments.
It would seem to me that nothing has changed, then. But it has been suggested that any and every one with any kid of income up to a point might just be included. Sky's the limit, I guess.
Yes but those rents are much higher than 1200.
Georgetown U law school grad friend from years back, about 2007 rented a ‘room’ with shower, toilet, closet, mini-fridge, no kitchen in Mid-town Manhattan because he wanted to be “where the action was” as in stock tip leaks etc overheard at the cafes and restaurants.
4400 frickin bucks per month.
In some cases, yes.
I think Mnuchin has done a good job here. He can’t be the perfect master but he’s got to save the economy from collapsing which is what the democrats and globalists want to see play out.
It is fundamentally unfair that working Americans had their incomes and livelihoods curtailed by government edict, yet legal fictions - contracts, debt obligations, etc - continued to tick away, collecting interest & arrears as if completely unaffected by current events. That is patently untrue, because of course we all in this together - both wage earners and asset holders.
So Trump had a few choices. He could have just as easily forced an executive decree - just like FDR did when he confiscated gold and then immediately re-valued it. Instead, this method works essentially the same way, in that we will flood the markets with $2.5 new money created out of thin air. Income earners get a check, and asset holders see their real values go down by a nominal degree.
Um, isn’t it actually 5 Trillion, counting the bank bailout?
You are obsessed with ‘perfect’.
Get out and be friendly. Tell your waiter/waitress, cafe barrister, market checker, quickie girlfriend, wish them all health and smooth sailing, ask if they got their 1200 and when they say, yes, say “Good! President Trump came through!”
Then get back to work with piss rants on FR.
Carry on.
“Direct payments to lower- and middle-income Americans of $1,200 for each adult....”
Most Americans? Working Americans? Anyone with a tax ID number?
They mean well. Now the public’s expectations have risen, and they will expect compensation from the government for the next disaster, and the next after that.
If government has that much money to spare, let’s just cut the crap, stop working, and let the government support us all!!
< / sarcasm, I haven’t become commie>
I feel that pain. Not sure what repairs you all do, but i am sending prayers to your family right now!
It’s a small price to pay for stopping a massive depression that could go on for years. The pump is being primed so we don’t lose the ability to keep water flowing. You’re seeing this in terms of ‘helping citizens’... that’s only part of it. Money is being pumped into the system to keep things moving...
$6 trillion is a small price? And of course that is not the final bill.
Housing construction will still seize up because home buyers remember 2008 and with that we are guaranteed a strong recession. Retail was under heavy pressure from Amazon and likely much of it will never recover. Etc.
It’s going to take years to dig out from the Wu Flu Panic of 2020.
How many clams is that?
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