Low-key annoyed that I earn too much to receive the full $1,200 under the proposed Senate stimulus plan.

I lucked out. I got a significant salary increase at the start of this year, but since it is based on last year's tax return I should get the full amount.

you're a greedy whore, darlin'

Just be thankful you aren't sick

That’s just the GOP Senate proposal. They have to get by Nancy. It will change. No point paying much attention yet.

op is an obnoxious humble bragger.

I get zip because of my income and this completely as it should be. If I would have received something, I would have passed it along to someone that could benefit.

Nice humblebrag, OP.

Is it based on last year’s (2029) tax return or W-2s? Because most people haven’t filed yet. And what if you are self-employed?

Seems like they should just give everyone the same amount. The higher earners can pay it back later in higher taxes. The critical year is 2020, not 2029. If you lose your job because of corona, you take the hit in 2020.

2029=2019

The article says it is based on the Adjusted Gross Income on your 2018 taxes (so not the taxes you are preparing right now, the ones from the year before, because everyone has them in now.)

It won’t even pass the Senate. They need 6 Democrats.

So if you lose your job due to coronavirus, but two years ago you were making $75k, you are out of luck? Huh.

Yes R12. Thats the situation my husband and I are in. We made good money (over $150k) in 2018, which is the year they're basing this on, but last year I lost my job in February and only had my husband's income, which was just under $150k.

So we get nothing. I'm still unemployed, but my unemployment ran out last year, so I can't even apply for that.

I get a $1.49... Hahahaha, poor me :)

R13 I'm confused. Together you made over $150k but hubby alone made just UNDER $150k. So what did you earn? Anywhere from $5000 to ???

[quote]I get zip because of my income and this completely as it should be.

Actually it's better to just send the money out to everyone now, no questions asked (it's faster that way), and as R8 says, claw it back from the high earners later on.

The Democrats have made noises about sending out much larger amounts, but they're so flat-footed politically that this Republican plan has a better chance at the moment. But people shouldn't just shrug and assume this is the best they can get. Demand more. The Republicans are being cheap while giving out huge tax breaks to companies that don't need it.

The whole idea is dumb because it's suppose to put money back into the economy.

Poor people will use it to pay bills, thus nothing new and others will just save it. Banks can borrow at zero rate, so they don't need your deposits.

Here we go with the entitled cunt, or are you just stirring the pot OP? If not flaming, I hope you die of the virus.

I'll also get nothing - but I feel that's how it should be. I'm recently unemployed but have no worries about money, although I don't know when they hell I'm going to be able to even interview.

I feel like I'm going to be unemployed for a long time now - and that's not a fun prospect. I like to work - and I need to work for another 10 years. I don't want to deplete any savings.

i get nothing :( Dammit I wanted another gold plated back scratcher.

R15 whats so hard to figure out? Over $150k means any amount $151k or over. Husband's salary could be anywhere from $1 -$149,999

I’ll get a bit and my partner should get the full amount. We don’t need it though...at least compared to others. Does anyone know if this will be taxable? If not, I encourage those who can afford it to immediately donate that money to local charities, like food banks. There are going to be so many unemployed people soon that will be really hurting.

[quote]I get zip because of my income and this completely as it should be. If I would have received something, I would have passed it along to someone that could benefit.

You're such a fucking liar, Camille.

Nobody who has not been hurt should receive any of this money. IMO they should double the payment for anyone filing unemployment as a result of this debacle

OP, you are the REAL victim of this crisis!

OP cries foul because he won't get $1200

Meanwhile the airlines, after years of record profits (in 2017 the CEO of American Airlines said he didn't think they'd ever be unprofitable again) thanks to everything from tighter seating to baggage fees to packed planes to exorbitant charges to change your flight, want $50 billion.

It’s terrible that you won’t get a bigger check because you’re so successful. Would you like to meet me for a drink?

The OP is either a troll, or a greedy, detestable prick.

Seems to be lot of both around here these days, R28

Fuck you, what is $1,200 to you anyway you greedy shitbag?

Boo hoo OP. Some of us actually need it. Go away.

I think they should offer something like this:

1. $1,000/month... taxable, but no strings otherwise attached. For 98% of Americans, it's either a lot of money, or a nontrivial amount of money. For the remainder, at least half of it will go straight back to the IRS in a few months anyway, so there's no need to waste time or resources quibbling over wealth or neediness right now.

2. $500/month, plus the ability to borrow up to $2,000/month at 0% APR for the next few months, increasing by 0.1 points per month thereafter to a maximum of something like 8% APR, with 10 years to pay it off.

3. $0/month, plus the ability to borrow up to $5,000/month under the terms of #2 for the first $2,000, and double that interest rate for any amount in excess of $2,000.

For extremely poor people, #1 will basically be like making minimum wage.

For middle-class people, #2 will keep their finances from melting down by enabling them to keep their bills paid in the meantime.

For more affluent middle-class people (who still aren't wealthy), #3 will achieve the same thing as #2 for less-affluent Americans. The truth is, most Americans who technically make lots of money are still two paychecks away from disaster, just like Americans who are poorer... their monthly cash flow is just a lot faster.

The higher interest rate and reduced up-front cash for the larger loan values will serve to nudge people towards their most financially appropriate option.

Choice #1 gets implemented in two ways, depending upon whether or not you have a checking account. If you do, it's handled by direct deposit. If you don't, the Treasury initially mails checks, and later gets banks to set up limited savings accounts with direct deposit for people who'd otherwise not be able to get them.

Choices 2 and 3 are outsourced by the Treasury to banks, and basically run the same way as a home equity line of credit (in fact, more or less exactly the same software on the back end).

Who does get it? I don't think I will get any, I am on a fixed income and no, I am notvmaking it. I have nothing except my cheap condo.

The greedy airlines deserve nothing but their workers do.

It's not a participation trophy, OP, you mulch-headed fuckwit.

[quote]I'll also get nothing - but I feel that's how it should be.

I think it's bullshit. Everyone should get it. If you don't want it, then donate back to the government or to a charity..

our problem is that we make too many of these kinds of distinctions.

universal should mean universal. we are all citizens and we all have somewhere we could use that money. it will prop up us, our families or our friends, or the local charity.

if you made "too much", tax you on the backend after all this shit is (hopefully) over. also, if you make "too much", shut up.

Rich people don't need financial help. People with lower incomes do. That is why everybody should NOT get it.

Sometimes I wish I didn't earn so much so I could cash in on all the free stuff. It would beat working for a living.

My problem with the plan is that income levels vary so wildly across the US

A family of four making $90K in the Bay Area is just at poverty level while a family making that amount in Eau Claire, Wisconsin is probably very solidly middle class.

Bit I also get that making that sort of adjustment would be a political nightmare, which is why we should probably just give the money to everyone and assume the more affluent will spend it on things that jump start the economy.

Thank you r37, should be the same amount of money for everyone. Because the higher the earner the more they contribute to taxes anyway so cut them just as large of a check. I'm so sick and tired of Republicans and their bullshit. Nancy better not blink.

The absence of cost of living adjustments is ridiculous. $60,000 in Iowa vs $60,000 in NYC is affluent vs lower middle class. Blue states screwed once again.

It should be based on Schumer's plan - give everyone who's out of a job unemployment that replaces lost wages. More generous welfare for those who weren't working. Food stamps. Health care. Things people need

I and millions of other people don't need a thousand dollars (I'm not saying it wouldn't be nice to have, but in no way do I need it) and wouldn't spend it, we'd invest it. It's not enough to prime the pump, anyway - you'd need to give out a lot more than a $1000 to get people spending it on anything more than food or rent.

I’m with OP. OP, don’t let these dopes get you down.

Humble bragging fuckwit, OP.

What if you have not had a job or filled taxes in over 2 years? You're fucked then?

None of this will matter as the economy crashes further in April. Its to get you chattering about the smallest of crumbs.

How soon will we get this?

means testing takes time and leads to resentment against those who got "handouts".

give it to everyone, tax it back on the backend if needed.

if you don't need it, surely you are not so disconnected from real life in this country that you don't know someone who DOES that you can help it with.

if you are that out of touch, give it to the charity of your choice.

no one is saying this will "save" the economy. but it will perhaps help the people who receive it.

i can barely understand assholes who go "it won't save the economy, so let people rot". no people= no economy and no hope for recovering one in the future. so the economy is "fucked" in the short and long term by helping no one as you all argue over who "needs" it and who "deserves" it. meanwhile, a check could have gone out to everyone and people use it where it is needed.

We're gonna give rich people $100,000; it will trickle-down to The Common Man!

I'm betting that it will end up being added on to next years taxes. Isn't that how that "bonus" under GWB's administration worked?

Speak for yourself R43. I only have a few extra dollars every month after paying rent and all my other expenses. I sure as fuck could use an extra $1000 dollars.

Wait! So they are basing this on the 2018 tax year and not the 2019 year?

I has an accident in 2018 and was out most of the year. Fuck! This is bullshit. 🤬

I made money last year but will make 1/2 this year - which should entitle me to it. I’m pissed.

Read somewhere the money will come out of your tax refund next year. Since my refund was only $497 this time- I may end-up owing!

A lot of people haven't even filed taxes for this year r54. Basing it on the 2018 filing is really the federal government's only choice.

It’s not a handout, we will pay it back and then some. I don’t want to see big companies getting bailed out again.

Most of the money will go to rich businesses. Par for the course with republican administrations

I made 140K last year and will probably make 80K this year due to all of the lost sales. And I suspect I will be furloughed (at the very least within 60 days) and will not even make that.

The $1000.00 to me at this point would not change my situation anyway, so I am glad it is going to folks who truly need it..

Mitch is so frightened of losing the Senate, he will even give government 💰to poor peeps and will feign his Grinchlike smile in the process.

I'm sorry, any plan originating from this Republican caucus in the Senate is going to be

a) not well thought out

b) overly favorable to corporations

c) designed somehow to screw people in blue states, and

d) guaranteed to fuck over actual workers.

Just federally fund unemployment--and make it easy, quick, and replacing the income people are losing from last jobs.

We need to pay people to not work / stay home.

Question for you guys, do Americans get EI (employment insurance) or some form of it? Is this payout in lieu of some sort of regular assistance?

Here's the plan as it stands now - Sunday - with more to be worked out

With as much online shopping I've been doing while staying in, I've certainly been doing my part to stimulate the economy already.

Pretty much everyone could use a cash injection, but it's a much more dire need for the people who have been fired, laid off, or have had to shut down their business due to not being "essential" right now. I am working from home for now, and still receiving my full salary and benefits. How long will that last? I'm not sure. But I know I'm a helluva lot better off than most of my friends who work in hourly jobs and aren't sure if/when they'll be paid again. Yeah, I'm barely surviving but I can at least pay my bills next month as well as I could last month -And that's something!

We need a plan that protects the people who need it most -Those that have lost their livelihood. How much money they made before then shouldn't matter. What matters is you still have a household to support and are barred from working. Universal unemployment compensation at your full, regular rate of pay is the only solution that will keep the economy from plunging into a depression. If we had that, then the minute the health crisis is over everyone can go right back to work. It will be the government, not workers and their families, that will have accrued debt during the crisis. Frankly, I'm surprised politicians don't go for this. Most people would reelect them in a heartbeat for saving them from a total financial meltdown...

R65- Wonderfully said.

[quote]Question for you guys, do Americans get EI (employment insurance) or some form of it? Is this payout in lieu of some sort of regular assistance?

Americans do get unemployment insurance through their state, although a) those systems don't pay very much and b) they're going to be strained to the breaking point in the next week or so.

The current proposal, as I understand it, would be a supplement to current unemployment insurance programs rather than a replacement.

[quote]Frankly, I'm surprised politicians don't go for this.

R65, Republicans have spent the last several decades insisting that "government *is* the problem" and that "government handouts just encourage dependency" and "prevent people from achieving their full potential."

They've also spent the last several decades fostering an us vs. them mentality and they currently have a massively aggrieved base who firmly believe that all handouts are going to the "undeserving," going back to Reagan's stories about a "welfare queen." We've seen some of those stories here on DL, every time we have a thread on food stamps. Reagan said:

[quote]"People were tired of wasteful government programs and welfare chisellers; and they were angry about the constant spiral of taxes and government regulations, arrogant bureaucrats, and public officials who thought all of mankind's problems could be solved by throwing the taxpayers' dollars at them."

[quote]"We see today a second generation, and even a third generation of citizens, growing up, marrying, having children, accepting public welfare for three generations as a way of life. The 11th century Hebrew physician and philosopher, Maimonides, said there are eight steps in helping the needy. The lowest of these is the handout; the highest is to teach them to help themselves."

So you have a party now who will absolutely put ideology over reality and a base that has been conditioned to do the same. For now, anyway, I don't see any of this changing. In a month or two, if some of the worst-case scenarios develop, then maybe?

Omg.

I would love to see Republicans tell people who are facing a pandemic, lost jobs, and evaporating retirement savings to fuck off just six months before an election.

But you *are,* R70; you *are* seeing them do just that!

Another benefit of my r32 idea: it preserves stock values by reducing the need FOR upper-middle class people to liquidate shares at depressed values just to keep bills paid in the meantime. If you can borrow $5,000 at 1-2% interest, and your investment portfolio is presently worth 60% of what it was 3 months ago, you'd have to be utterly INSANE to sell ~$6k worth of stock for ~$4k instead of keeping the stock untouched & just taking the loan instead.

Hell, it would probably even drive a mid-recession bull market if "5 percenters" borrowed the full $5k/month & used most of it to buy stock while it's cheaper.

Still no deal Monday afternoon. Seems the Repugs want to throw everything to megacorps and CEOs -But stand fast against "giveaways" like expanding unemployment insurance or expanded sick leave for workers...

As I understand the TV pundits today (Thurs), an individual who's retired and received less than $75,000 (adjusted gross income) in 2018 from Social Security and/or other sources will qualify for the minimum $1,200 payment from the government. Why? My Social Security and small pension payments won't decrease due to the recent slowdown in the economy and stock mkt -- I'm retired, so I haven't lost a job or had to close a business. This whole mess won't cost me money, so why do I qualify for whatever this $1,200 government stipend is called?

Is it supposed to encourage me to spend money and thereby eventually boost the economy? I'm not a materialistic person and, besides, that would help Trump's re-election efforts and I have no desire to do that. I'd be glad to use it to buy equipment to help hospital workers, but it doesn't seem like enough to do that.

So I think I'll give $200 to each of the 6 homeless women who live in their cars with their pet cats and dogs behind a local laundromat, so they can afford to buy pet food (or cigarettes, or whatever they need). Either that or donate it to the ACLU to fight Trump.

I'm pretty sure that IF a check comes to me and doesn't get rerouted to Trump University or somesuch, it'll be an advance on my tax refund for the 2020 fiscal year. So it's going into my savings account, right where it would go if I were to receive it in early 2021 instead.

Funny how quickly people love socialism

It means you’re not poor Op Be grateful

this is what is wrong with us - it should have been simple - low/no interest loans for large corporations, stimulus packages for small businesses and guaranteed unemployment for those out of work due to closings. Instead we have grants for suntan lotion manufacturing??what the fuck.

I don't qualify. And, since I already receive a comfortable, if not gold-plated, pension from my career job, I'm torn about applying for unemployment benefits, for which I'm clearly eligible, from my post-retirement, contract work.

[quote]The Democrats have made noises about sending out much larger amounts, but they're so flat-footed politically that this Republican plan has a better chance at the moment.

There's the fact that Mitch McConnell controls the Senate and the White House as he is instructing Trump what to do on this.

Whiny liberals are so infected by Bernie's toxins they rarely support the ONLY party operating with decency, DEMOCRATS, and choose to eye-roll and pick apart every imperfection! No wonder we can't get ahead with all the Debbie Downers never willing to take a compassionate bill that helps people NOW!

Imagine if there were a Senate controlled by Democrats right about now.

It sure would be nice if loans to corporations included public ownership of those corporations and works having seats on their boards.

My kid graduated college May 2019 but counted as my dependent. Was working 2 jobs but lost both jobs early this month because of Covid 19. She gets nothing from the plan.

She gets unemployment, r82, and more generous unemployment than anyone has ever received in America.

Will it replace her job income?

R83, You are actually correct. That 4 month period with an extra 600 a week, is unprecedented.

I cannot lie, I found the plan very fair.

And I am about to be furloughed.

I am getting a significantly reduced paycheck until the business i work for is bringing in such little money. I make in the mid-6 figures, so I can’t claim anything, right? I know people need it more than I do, but I have big bills every month and have to go into my savings to pay them. I’m not sure how long this is practical.

^ because the business I work for is bringing in such little money.

The problem is it should be based on NOW.

If you made a hundred grand in 2019 and lost 90,000 in the stock market in 2020, you've been hit hard, but get nothing.

R85, I actually get it. Although I am on a much lower level.

I make in the low six figures (70% commission) and I am now having to live on my base ($45,000) due to business being destroyed

I lost $8000.00 in March in commissions. (My big months were January, February, March, May, July- the rest of the year my commission would be negligible)

I am supremely fucked but taking action immediately. I rent and I am trying to find a lower cost home or apartment..

Pretty sure my job is done altogether, and based on commissions, I would actually be better off ON UNEMPLOYMENT! I cannot believe I am saying that.

You, clearly would not. That is REAL money.

R87, Yeah, due to my current state, it really sucks.. My 2020 is destroyed and I would love the peace of mind of that $1200.00 would bring. (Car payments. Rent, Food)

But I know that there are tens of 1000's of waiters and waitresses (and these SMALL BUSINESSES) that made half of what I did, and need that money)

And I am cool with it.

Yeah - tough times for a lot of people. I’m grateful I have savings to dig into. Some have it much worse. I’m fairly young and everyone says you have to save and invest now or you’ll be screwed later. That does scare me. I can’t even bring myself to call my finance guy to get an update.

I hope we find a treatment or get a vaccine ASAP. I don’t think things will get back to normal any other way.

Our government and public health officials really dropped the ball on this one. You would think no matter how shitty Trump is (or since Trump is so shitty), the CDC would have done something to protect the country. We should have been testing everyone coming into the country and quarantining people months ago.

[quote]the CDC would have done something to protect the country. We should have been testing everyone coming into the country and quarantining people months ago.

I agree, but we're not alone. Most Western countries did not react quickly enough, while east Asian countries moved fast. Perhaps it was proximity to China, or perhaps it's a cultural difference, but they did a much better job than we did.

It didn't help that many very smart people - including physicians and scientists - were far underestimating the seriousness of the situation as recently as early March. It was almost like a ... social class thing, although I hate to say it. The worldly, sophisticated types mostly seemed to think the fear was exaggerated and kept traveling, socializing, etc., while the less global types were shopping and hoarding.

I think there will be a lot of very interesting information and research about the social reaction to the epidemic in the years to come.

My whopping 100K in retirement (now 86K after all of this - thanks to my low risk choices in investments) doesn't mean shit anyway.

Not young - 42.

I will try not to even touch that.

Ouch! I've lost less than a percent of my 401k so far because I was absolutely certain the Cheeto would tank the economy like he does all his businesses and switched everything into the lowest-risk plans available. I missed out on the stock market gains last year and will continue to miss out after it bottoms out and begins climbing again because I'd rather see my savings maintain even value than watch them yo-yo up and down and bank on being able to guess when to sell. Once we have sane people in office, then I'll trust in the stock market long term again.

R82 here, my kid was working as a tipped restaurant employee. Will that change anything?

If you don't qualify you don't need it.

If you don't get played off, do you get any money.

OP is annoyed that his Netflix subscription will be out of his budget while other Americans are getting evicted and going to food pantries.

OP takes the stimulus as a negative judgement on his career trajectory.

OP! We know you worked hard!!!! But the fact is, there are people who won’t eat, feed their kids, or have a place to live or gas money, blahblahblah. Pull your head out of your ass, look around.

me me me me me me me me me me me me me

Wow one check for $1200. That’s going to be so incredibly helpful to someone who’s just lost his job!

[quote]It didn't help that many very smart people - including physicians and scientists - were far underestimating the seriousness of the situation as recently as early March.

I know of ZERO doctors and scientists who underestimated this.

Because science (and math).

What was overestimated was the ability of the federal government to act decisively in preventing spread and limiting impact, as it has always done. Very few guessed how broken everything is now throughout the federal response mechsanisms.

[quote] I’ve worked really hard to get where I am.

As if that matters to the Republicans. It isn't how hard you've worked that matters to them, it's how much you can give them.

Look OP, the banks and large corporations who recently used their trillion dollar tax cut to buy their own stocks back and artificially inflate their stock vaiue are the REAL winners here. Not the people getting their, by comparison, petty cash payments.

You are the engine of the GOP, people who have achieved to a degree, have some money in the bank and are vulnerable to the brain wash that poor people are taking money away from them. They have nothign but contempt for you and your pathetic few million doallrs. That's chump change to them. They use your kind as the engine to keep awareness down, while they funnel urestricted cash to their donors.

[quote] [quote] I’ve worked really hard to get where I am.

Moscow Mitch would say "Too bad, you should have worked a little harder"

R93

Perfection r100.

[quote]Wow one check for $1200. That’s going to be so incredibly helpful to someone who’s just lost his job!

There’s also 4 months of regular unemployment, plus an additional $600/week, for anyone who’s lost their job, thanks to the Democrats. That’s what Repugs like Miss Lindsay were so incensed about. Lindsay actually said why would anyone go back to work when they could make more by staying unemployed.

[quote]I lucked out. I got a significant salary increase at the start of this year, but since it is based on last year's tax return I should get the full amount.

I'm the other way around. I got cut to part time last summer, so I'm not making the salary I was back in 2018. :(

Seriously r103.

Everyone is harping on this relatively meaningless 1200 check, and ignoring the MASSIVE UNEMPLOYMENT part of this bill.

Guess they don't want facts to get in the way of trying to make their point.