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Stimulus

#1

Allegedly every adult within certain parameters (income of $75,000 per year for individuals and $150,000 for married couples) is going to receive a payment of $1200 per person.  I assume that many of our users here probably fall within the parameters of the condition myself included.

My question is, what do you plan to use that money for?

For me it would pretty much pay our income tax bill that we usually pay every year ($2400.00 is around the average that I have to pay above what the government takes from our income every year).  If it was up to me I would tell the government to keep it and lower my tax bill.

I do realize that some people are probably laid off right now or told not to report to work so their income stream is shut off.  I can understand how that money would help them out.  I am fortunate enough that I'm able to work from home for the most part (I am under quarantine at the moment).  My normal income is not affected by this, but I know that there are countless others not so fortunate.

I'm just curious to see how others would use the money.


There are 10 kinds of people in this world.  Those who understand binary and those who don't.
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#2
(This post was last modified: 03-25-2020, 05:53 PM by StroudCrowd1.)

People who make over 200k a year may have been laid off and have their own bill's to pay.

My government determined I am not worthy of financial relief based off my family's income, completely irrelevant to any damage COVID-19 may have caused to my finances.
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#3

(03-25-2020, 05:52 PM)StroudCrowd1 Wrote: People who make over 200k a year may have been laid off and have their own bill's to pay.

My government determined I am not worthy of financial relief based off my family's income, completely irrelevant to any damage COVID-19 may have caused to my finances.

I'm in the same category as you, but I lived like I'm in the category with jagsIbelieve...
I have plenty in reserve, and I am more than glad to see the rest of you who haven't been as fortunate get some extra money while I get nothing...
My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.
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#4

(03-25-2020, 05:22 PM)jagibelieve Wrote: Allegedly every adult within certain parameters (income of $75,000 per year for individuals and $150,000 for married couples) is going to receive a payment of $1200 per person.  I assume that many of our users here probably fall within the parameters of the condition myself included.

My question is, what do you plan to use that money for?

For me it would pretty much pay our income tax bill that we usually pay every year ($2400.00 is around the average that I have to pay above what the government takes from our income every year).  If it was up to me I would tell the government to keep it and lower my tax bill.

I do realize that some people are probably laid off right now or told not to report to work so their income stream is shut off.  I can understand how that money would help them out.  I am fortunate enough that I'm able to work from home for the most part (I am under quarantine at the moment).  My normal income is not affected by this, but I know that there are countless others not so fortunate.

I'm just curious to see how others would use the money.
Haven’t been keeping up on ALL the Corona stuff. Been tired of hearing about it.  But that is <75k and <150(if married) right? Not those who make That much?   I haven’t kept up but assumed we wouldn’t receive anything.  If we do...Not really sure what I’d use it for to be honest. If we did, I’d probably have to talk my greedy wife into donating it or giving it to family.  Or if she wins, probably some stuff we don’t need or I want.  

Now I did see something for small businesses.  That we may be qualified for.  If that’s the case, then I’d probably just use it for its intended purpose.  But, we are not out of work, so I don’t know if I’d get it or not.  If so, Probably give my guys a bonus or something.  They work their [BLEEP] off and deserve it. 

Hope you’re feeling better BTW and your wife/family hasn’t caught what you have.
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#5

How will this be determined? Previous year's income tax filing? My wife and I don't qualify now, if JIB's parameters are accurate. Thankfully once our business closed, we were able to fall back on our education/experience prior to swan diving into entrepreneurship
I'll play you in ping pong. 
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#6

(03-25-2020, 06:19 PM)Gabe Wrote: How will this be determined? Previous year's income tax filing? My wife and I don't qualify now, if JIB's parameters are accurate. Thankfully once our business closed, we were able to fall back on our education/experience prior to swan diving into entrepreneurship

Yeah, I’m m not sure either.  Also, is it pre-tax or post?  Either way, I’m not really expecting anything.  

Since were in the political section....
What I find funny is the Dem debates was a [BLEEP] show of who can give out the most money and who can speak the best Spanish.  Now that Trump is wanting to give out money, the Dems are like “whao, [BLEEP]? If you’re gonna do that then add this and that to it..”

So sad.
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#7
(This post was last modified: 03-25-2020, 06:32 PM by americus 2.0.)

I've got nothing to say about this bill. There are so many things wrong with it. Why are people who are still employed getting money?

(03-25-2020, 06:19 PM)Gabe Wrote: How will this be determined? Previous year's income tax filing? My wife and I don't qualify now, if JIB's parameters are accurate. Thankfully once our business closed, we were able to fall back on our education/experience prior to swan diving into entrepreneurship

According to an article

Who is eligible?


The bill makes clear that everyone is eligible except for nonresident aliens and those who can be used as the basis for deductions for another person.

"Seniors, veterans, the unemployed and low-income Americans would be eligible too," Senate Finance Committee Chairman Chuck Grassley said Wednesday.

The bill text indicates those who receive social security can collect checks: For those not required to file 2018 or 2019 tax returns because of social security benefits, tax returns aren’t required to claim the money -- the government can use information from a Form SSA-1099, Social Security Benefit Statement, or Form RRB-1099, Social Security Equivalent Benefit Statement.

With that in mind, here is how much people can expect to get.

People filing individually

People who file their taxes as individuals are eligible for payments up to $1,200, but that decreases for people who earn more than $75,000 a year. The bill says that the payment is reduced by five percent of every dollar above that mark, or $50 for every $1,000 above $75,000.

What that ultimately means is that for people who make more than $75,000 the payment is less the higher their earnings are, with it being reduced to zero for those who make $99,000 or more.

People filing jointly

Couples who file a joint tax return are eligible for a payment of up to $2,400, plus and additional $500 per child. However, that amount decreases for couples who earn more than $150,000 in a year at the same rate of 5 percent of every dollar above that mark.

This translates to less money the more people make, with it being reduced to zero for joint filers without children who earn $198,000 or more.

People filing as heads of households

People who file as heads of households are eligible for payments of up to $1,200, but that amount is increased by $500 per child. That amount is reduced for people who earn more than $112,000 a year. The extent to which it is decreased, of course, depends on how many children they have, as illustrated by the chart above.

Income is based on people's tax filings for 2019, but they have not filed for that year, then their filing for 2018 applies.


"[I]f the individual has not filed a tax return for such individual's first taxable year beginning in 2018," the bill says, the information should be used for 2019 provided in their SSA-1099 or RRB-1099 Social Security Benefit Statements.
Ya, you betcha.
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#8

My biggest thing is that I don't really need it.  I don't really like putting personal information out but I make a bit over $100,000 per year while my wife makes a modest income.  After contributions to our IRA's we can get under the $150,000 limit and get a check.

My point is that someone like me doesn't need the stimulus.  Will I take it?  Yes because it's from tax dollars that I have paid.  As I said before it will probably go right back to the government in the form of taxes.  I just wonder how many people will actually use it to make ends meet (the intent) and how many people will use it or blow it on non-necessities.


There are 10 kinds of people in this world.  Those who understand binary and those who don't.
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#9

(03-25-2020, 08:03 PM)jagibelieve Wrote: My biggest thing is that I don't really need it.  I don't really like putting personal information out but I make a bit over $100,000 per year while my wife makes a modest income.  After contributions to our IRA's we can get under the $150,000 limit and get a check.

My point is that someone like me doesn't need the stimulus.  Will I take it?  Yes because it's from tax dollars that I have paid.  As I said before it will probably go right back to the government in the form of taxes.  I just wonder how many people will actually use it to make ends meet (the intent) and how many people will use it or blow it on non-necessities.

I'd like to see what percentage of people who didnt lose a day of work during all this will end up getting their "bonus" from our government.
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#10

Hookers and blow, man. Gotta keep Economy humming.
"It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office." - H. L. Mencken

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#11

(03-25-2020, 08:12 PM)StroudCrowd1 Wrote:
(03-25-2020, 08:03 PM)jagibelieve Wrote: My biggest thing is that I don't really need it.  I don't really like putting personal information out but I make a bit over $100,000 per year while my wife makes a modest income.  After contributions to our IRA's we can get under the $150,000 limit and get a check.

My point is that someone like me doesn't need the stimulus.  Will I take it?  Yes because it's from tax dollars that I have paid.  As I said before it will probably go right back to the government in the form of taxes.  I just wonder how many people will actually use it to make ends meet (the intent) and how many people will use it or blow it on non-necessities.

I'd like to see what percentage of people who didnt lose a day of work during all this will end up getting their "bonus" from our government.

Everyone is supposed to get it so I imagine the answer is a lot of people to include my husband. We don't need it to survive but it could/probably will go toward our state income tax we end up paying on every year. The rest would go in our emergency fund that we use in times of.....emergency.
Ya, you betcha.
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#12

(03-25-2020, 08:03 PM)jagibelieve Wrote: My biggest thing is that I don't really need it.  I don't really like putting personal information out but I make a bit over $100,000 per year while my wife makes a modest income.  After contributions to our IRA's we can get under the $150,000 limit and get a check.

My point is that someone like me doesn't need the stimulus.  Will I take it?  Yes because it's from tax dollars that I have paid.  As I said before it will probably go right back to the government in the form of taxes.  I just wonder how many people will actually use it to make ends meet (the intent) and how many people will use it or blow it on non-necessities.
I’m in your boat. We don’t need it.  Wife is working from home(she’s actually the breadwinner).  I’m not only working but getting an uptick in business from those working from home seeing us out and about. If given a check... idk.  We don’t NEED it.  I’m sure we’d blow it.  I’d actually prefer it go to those that are affected by limited hours or being laid off.
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#13
(This post was last modified: 03-25-2020, 08:42 PM by StroudCrowd1.)

(03-25-2020, 08:32 PM)americus 2.0 Wrote:
(03-25-2020, 08:12 PM)StroudCrowd1 Wrote: I'd like to see what percentage of people who didnt lose a day of work during all this will end up getting their "bonus" from our government.

Everyone is supposed to get it so I imagine the answer is a lot of people to include my husband. We don't need it to survive but it could/probably will go toward our state income tax we end up paying on every year. The rest would go in our emergency fund that we use in times of.....emergency.

That's the thing. Everyone isn't getting it. I'd imagine there are a good number of high income people who carry debt a quick 5k could help.
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#14

Wife and I make pretty modest incomes. We also happen to live well with what little we make. We have a building we are planning on doing ourselves on our property. Initially, we were going to drain our savings to build it. We have decided that we will use this money instead, and take the hit on our taxes next year, while keeping savings fully intact.
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#15

(03-25-2020, 05:22 PM)jagibelieve Wrote: My question is, what do you plan to use that money for?

The US populace gets a trillion dollars the same week and you ask what they are going to spend it on?
THE LAST ROLL OF TOILET PAPER
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#16
(This post was last modified: 03-25-2020, 09:02 PM by Jags.)

(03-25-2020, 08:49 PM)raptor6581 Wrote: Wife and I make pretty modest incomes. We also happen to live well with what little we make. We have a building we are planning on doing ourselves on our property. Initially, we were going to drain our savings to build it. We have decided that we will use this money instead, and take the hit on our taxes next year, while keeping savings fully intact.

I’m sure you’ve looked at metal buildings? Not sure the intent of the building you are wanting.  But they come fairly cheap for the square footage.  You’ll have to have concrete poured though.

(03-25-2020, 08:29 PM)flsprtsgod Wrote: Hookers and blow, man. Gotta keep Economy humming.

Hmm.  You may be on to something.
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#17

(03-25-2020, 08:55 PM)Byron LeftTown Wrote:
(03-25-2020, 05:22 PM)jagibelieve Wrote: My question is, what do you plan to use that money for?

The US populace gets a trillion dollars the same week and you ask what they are going to spend it on?
THE LAST ROLL

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#18

(03-25-2020, 08:59 PM)Jags Wrote:
(03-25-2020, 08:49 PM)raptor6581 Wrote: Wife and I make pretty modest incomes. We also happen to live well with what little we make. We have a building we are planning on doing ourselves on our property. Initially, we were going to drain our savings to build it. We have decided that we will use this money instead, and take the hit on our taxes next year, while keeping savings fully intact.

I’m sure you’ve looked at metal buildings? Not sure the intent of the building you are wanting.  But they come fairly cheap for the square footage.  You’ll have to have concrete poured though.


We are building what amounts to a massive she-shed...... About 500 sq ft. Will be doing the work ourselves, wood with tin siding and roof. Will be able to fully finish it for about $5k. The gubment gonna help pay a lot of that.

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#19

(03-25-2020, 09:20 PM)raptor6581 Wrote:
(03-25-2020, 08:59 PM)Jags Wrote: I’m sure you’ve looked at metal buildings? Not sure the intent of the building you are wanting.  But they come fairly cheap for the square footage.  You’ll have to have concrete poured though.


We are building what amounts to a massive she-shed...... About 500 sq ft. Will be doing the work ourselves, wood with tin siding and roof. Will be able to fully finish it for about $5k. The gubment gonna help pay a lot of that.

Oh, okay.  Sounds like a fun project.  A metal building that size wouldn’t be too much more but the whole pouring the foundation will add a bit.  She sheds...  I’d be lying if I said I didn’t want one.  What exactly goes into a she shed?
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#20

(03-25-2020, 09:36 PM)Jags Wrote: Oh, okay.  Sounds like a fun project.  A metal building that size wouldn’t be too much more but the whole pouring the foundation will add a bit.  She sheds...  I’d be lying if I said I didn’t want one.  What exactly goes into a she shed?

Wife doesn't know it yet, but a boat....
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