BRKG Trump wants IMMEDIATE cash handouts for Americans: Treasury Secretary Steven Mnuchin says everyone will get MORE THAN $1,000 within two weeks once he

[20Gauge]

They will use IRS information on direct deposit for the most part. Also, you can get to the bank, but it is generally drive thru only.

If the banks are closed how ya gonna cash the check? Maybe they will pre-load a card? If that's the case you will have to guard your mail box like a pit bull!

 

[summerthyme]

I told hubby the "free" thousand bucks would solve a big part of the drug problem. Real addicts will splurge and then OD...

Summerthyme

 

[20Gauge]

Income is income and by mandate since the 1920s even poor peoples have to pay up.

I know you know but many peoples who have never been their own boss don't get it.

Even if one only made $400 of income in a year, you are required to pay up at least 15% of that to the United States Treasury. That's the law, and inforced by the IRS.

Totally BS considering many peoples work their whole lives then die before they can collect any of the 15%+ they paid into the system and get not one bloody penny to their estate.

And the majority of Americans are okay with that. Sickening.

Actually that 15% applies from the first dollar and not the $400 mark......income is income and subject to tax.

 

[20Gauge]

How many won't get a check due to past due obligations?
Past due
taxes
child support
student loans
etc.

They will get the money first.

 

[questionable1]

I trust individuals to do what is right in their circumstances. If their need is weed, more power to them.
It may make it easier to turn them down when they get the munchies.
Does a trillion to prop up a bank get put to any better use?

 

[robinnbama]

so screw those on disability that are just scraping by barely.
oh by the way don't get food stamps either..
is that what you are saying??

Exactly... cause you know... we don't "contribute" to anything but the deficit anymore... (I'm in the same boat)

 

[Armyvet75]

April 6th is first direct deposit

 

[West]

Actually that 15% applies from the first dollar and not the $400 mark......income is income and subject to tax.

Right, but most on line tax estimate calculators start around $400.

And for those that don't know and look at their pay stubs and say "hey fica only takes 7%+" your employers match that and you do pay it too. Plus your employers collect it by paying a CPA to crunch the numbers. A direct mandated fee with many others the employers are taxed to pay to pay the taxes on your behalf, for free.

IOW employers don't get paid to be tax collectors, they pay to be tax collectors, by mandate.

 

[Bps1691]

Except, that UE is not that fast at getting going, and TONS of people have most or all of their income via sources that don't generate UE benefit eligiblity, but ARE taking it in the shorts right now with so much of the country shut down. What would you suggest the .gov do for them, and why not do it the same way for everyone not in the top 5%, AS TRUMP IS APPARENTLY GOING TO DO?

No where have I seen that Trump is doing it for the "top 5%, AS TRUMP IS APPARENTLY GOING TO DO?" do you have some source for this statement?

As far as UE being slow, I specifically said eliminate the waiting period and increase the amounts being paid (also I'd add you don't have to do the look for work thing while the quarantine is in effect). The system already exists and it could continue to be in effect as long as the emergency takes.

I'm a work from home person and as long as I have my job I don't need the check and for people like me it should go to those who have lost their work incomes.

In answer to:

"... the people who aren't eligible for UE benefits"-

Don't like using UE then:

1. Send checks to only those who filed Taxes last year - with some type of upper limit on earned amounts (determining the upper limits on earnings would be the real problem)

2. I assume those on SS, Military Pensions or Disability still have to file income taxes, but if not include them as well

3. Other's as identified (have any suggestions?)

My problem is, if you send a check to everyone regardless if their income has been hit or not, you'll spend a hell of a lot more money than needed right now.

 

[20Gauge]

Right, but most on line tax estimate calculators start around $400.

And for those that don't know and look at their pay stubs and say "hey fica only takes 7%+" your employers match that and you do pay it too. Plus your employers collect it by paying a CPA to crunch the numbers. A direct mandated fee with many others the employers are taxed to pay to pay the taxes on your behalf, for free.

IOW employers don't get paid to be tax collectors, they pay to be tax collectors, by mandate.

Yep, I have had countless conversations with people about them being both the employer and employee and must now pay both sides.... they never understand and usually get angry with me. I do understand it being the messenger thing.

 

[20Gauge]

April 6th is first direct deposit

They haven't passed the law yet?

 

[20Gauge]

My brother was saying that now that many are expecting a $1k check, they stopped working at the port. These were $9 per hour jobs....

They lost almost 1/2 the people within 48 hours after the original announcement.

 

[Grouchy Granny]

Not holding my breath over getting one.

Sounds too good to be true and ya all know what they tell you about that one!

 

[billet]

Not holding my breath over getting one.

Sounds too good to be true and ya all know what they tell you about that one!

Why is this good. This country is beyond being broke! Printing more fiat only exasperates the problem. It's time for people to wake up. It's not going to get any better!
This is just plain STUPID!

 

[Armyvet75]

They haven't passed the law yet?

the tres dept was instructed to use that date today

 

[Grouchy Granny]

Why is this good. This country is beyond being broke! Printing more fiat only exasperates the problem. It's time for people to wake up. It's not going to get any better!
This is just plain STUPID!

Agree 100%! This only makes the sheeple more reliant on the guvmint and we all have seen the road that takes us down.

Atlas Shrugged, here we come!

 

[Kris Gandillon]

I replied the same thing in a BS thread yesterday and woah did I get slammed by a couple people. Others agreed though.

May be taxable, may be not.

When they did "Cash for Clunkers" the $4,500 was NOT taxable. I participated so I KNOW this to be a fact that we did NOT have to declare it as income.

 

[Blacknarwhal]

Why is this good. This country is beyond being broke! Printing more fiat only exasperates the problem. It's time for people to wake up. It's not going to get any better!
This is just plain STUPID!

One, it fixes a serious short-term problem. Two, it exacerbates the problem of too much debt, which was unpayable to begin with. Three, it puts us in a better position later on. If you don't like it, that's cool; buy some gold and call it a day.

 

[Cacheman]

 

[PghPanther]

I don't like inflating the fiat money supply but would rather it go to the working poor than corporations that are "too big to fail"

 

[Sam I Am]

If all is semi-normal here and we're OK on supplies, we'll be looking for metals if this money arrives.

 

[rafter]

IMO, this is money to help pay the bills, not go out and buy BS. If you are out of work, like I am this is a huge blessing. My unemployment is between a third and a fourth of what I make a week. If something wasn't done there would be defaults on paying credit cards, car loans and mortgages. This helps all those businesses.