Covid-19 Stimulus Bill

[GoodWord28]

So, the bill is nearing $2T. Everyone gets a $1,000 check. People on unemployment get the full pay if the current bill goes thru.


While I'm happy bc my wife is furloughed....she's on a paid vacation for a couple months.



I'm working from home. Quite the conundrum. It's a great bill to be sure. But, if we're just throwing money around, I'd like zero taxes for a couple months while we're at it.

 

[gregorycarlisle]

We have a major liquidity problem. Helicopter money won’t do shit. Besides, Dems are pushing back on that.

 

[Grizzly86]

They are just debasing money...this will cause serious deflation. I say that they just print the damn money and lets see if we get inflation or not...either way, it’s un fathomable how we went from 3trilkion debt when George w took office to now being 27trillion in debt. I think we are F$&ed

 

[TigerCaper]

They are just debasing money...this will cause serious deflation. I say that they just print the damn money and lets see if we get inflation or not...either way, it’s un fathomable how we went from 3trilkion debt when George w took office to now being 27trillion in debt. I think we are F$&ed

Yes, unbelievable increase in 20 years. But at less than 1% interest, it is still not a problem. How will interest rates ever rise?

 

[1Clemson]

Yes, unbelievable increase in 20 years. But at less than 1% interest, it is still not a problem. How will interest rates ever rise?

it wouldn’t be an issue if we had any intention of retiring the debt. The treasury will just do rolling refis in the future at much higher interest rates- the bomb goes off in 20 years. Make sure to remember what you did with the Trump check, your kids will want to know as it ruins their life.

 

[Champs_16]

Make sure to remember what you did with the Trump check, your kids will want to know as it ruins their life.

if you don’t ruin your kids lives at least 20 times a year you’re not doing it right. They will lose count way before this check eats their souls...

 

[scotchtiger]

So, the bill is nearing $2T. Everyone gets a $1,000 check. People on unemployment get the full pay if the current bill goes thru.


While I'm happy bc my wife is furloughed....she's on a paid vacation for a couple months.



I'm working from home. Quite the conundrum. It's a great bill to be sure. But, if we're just throwing money around, I'd like zero taxes for a couple months while we're at it.

Most of TI will not receive a check because of the income phase out.

 

[GoodWord28]

Most of TI will not receive a check because of the income phase out.

True

 

[MBTiger23]

Not everyone gets a check. If you made 150k as a family in 2018 you don't get money. I would imagine that is a lot of folks on here.

 

[athigpe]

Just getting more and more people hooked on the government tit.

 

[SaltyMeatBallsOO]

My wife and I won't be getting a check. Both hard working high tax paying citizens. Sucks!

 

[GoodWord28]

Not everyone gets a check. If you made 150k as a family in 2018 you don't get money. I would imagine that is a lot of folks on here.

That's when the phaseout starts.

 

[tigerGUY]

I know one thing....it won't come close to pleasing everyone.

As for the deficit....declare bankruptcy.

 

[Grizzly86]

Who thinks we could do a soft default on our debt? We need to peg the dollar back to gold or some commodity. Maybe oil?

https://www.foxbusiness.com/economy/the-federal-government-should-default-on-its-debt

 

[MBTiger23]

That's when the phaseout starts.

Yep and goes away at $198k. Hoping they wise up and raise that threshold. They're giving retirees on social security money when their financial situation hasn't changed but cutting out middle class that likely have bills due they can't pay. I know plenty of successful sales guys hurting right now as well as restaurant owners/managers that could use that money.

 

[wmnesbitt]

So since I made less than $150g in 2018 and my wife is a home maker. Does that mean we are poors and get the full payout?

 

[nmerritt11]

Well a $1000 stimulus check isn’t helping my wife recoup majority of her 2020 income after having to cancel almost every booking she has worked on for this year.

But it will cover about a months worth of alcohol I guess

 

[TigManinSC]

As for the US going bankrupt, have you checked yields on US Treasury bonds?

For the US to go bankrupt would mean that every other country in the world is already bankrupt.

Regular people and investors from around the world are basically throwing money at our debt. The bumpier the ride the better the US looks. The US remains the greatest and SAFEST investment in the world. It's not even close.

 

[dpatterson85]

I think it’s crazy that this thing is getting means tested based on 2018 returns. There are plenty of people who were making above the phaseout limits over a year ago and currently don’t have a job.

Personally think there should be zero means testing and ongoing payments each month until this thing is resolved. Think if they don’t get checks to people by April 1st, this is gonna get ugly fast.

 

[Tiger1425]

I agree that if one is making it on SS you don't need the money. That doesn't make any sense. And I am on SS. However, if I get a check I have already told my wife I will donate it to the waitresses at my favorite meat and three restaurant. These are ladies who live on 3 and 4 dollar tips anyway. And now they are getting nothing. My wife can do what she wants with her check...

 

[gimbus88]

Why not just give everyone a $1,000,000 since we aren’t being responsible

 

[dpotter24]

So, the bill is nearing $2T. Everyone gets a $1,000 check. People on unemployment get the full pay if the current bill goes thru.


While I'm happy bc my wife is furloughed....she's on a paid vacation for a couple months.



I'm working from home. Quite the conundrum. It's a great bill to be sure. But, if we're just throwing money around, I'd like zero taxes for a couple months while we're at it.

You do understand that it’s not free money, right? It’ll come out of your taxes in the future.

 

[dpotter24]

I think it’s crazy that this thing is getting means tested based on 2018 returns. There are plenty of people who were making above the phaseout limits over a year ago and currently don’t have a job.

Personally think there should be zero means testing and ongoing payments each month until this thing is resolved. Think if they don’t get checks to people by April 1st, this is gonna get ugly fast.

They can’t do it off of 2019 since the 2019 tax filing season hasn’t ended. Hell, even if it wasn’t rightfully extended, it still wouldn’t have passed yet. 2018 is the most recent tax year they can use.

 

[MBTiger23]

I don't need the money bc my job has not been affected by this but I know plenty of people that make good money that will be struggling for a few months. $3800 could help them out tremendously. Meanwhile there will be others that get even more than that and spend it wrecklessly.

 

[MBRO]

You do understand that it’s not free money, right? It’ll come out of your taxes in the future.

Not much different from the 2017 tax cut. If people were ok with that, they should be ok with this.

 

[nytigerfan]

Most of TI will not receive a check because of the income phase out.

it looks like you will have an easy decision in the November election. Either vote for Biden or vote for a socialist.

 

[nytigerfan]

So, the bill is nearing $2T. Everyone gets a $1,000 check. People on unemployment get the full pay if the current bill goes thru.


While I'm happy bc my wife is furloughed....she's on a paid vacation for a couple months.



I'm working from home. Quite the conundrum. It's a great bill to be sure. But, if we're just throwing money around, I'd like zero taxes for a couple months while we're at it.

Nobody on TI will admit it if they get a check. That would mean admitting to being a poor and a socialist.

 

[The Orange Wave]

We have a major liquidity problem. Helicopter money won’t do shit. Besides, Dems are pushing back on that.

That is actually exactly how you solve a liquidity problem, not a solvency problem.

 

[Alpha Tiger 95]

They'll need another stimulus package before long. A one time payment/rebate won't be enough for a vast majority of the people who will need the money to keep a roof over their heads and feed themselves.

 

[The Orange Wave]

You do understand that it’s not free money, right? It’ll come out of your taxes in the future.

Fed will buy the treasuries to finance it and they will never get paid back. Look at Japan, there is no conceivable way all the debt will be paid back or assets sold that are on their balance sheet. They may refinance that debt into a perpetual zero coupon bond, but might as well just delete a few zeros from central banks asset and government liabilities on their balance sheets.

 

[dpatterson85]

They can’t do it off of 2019 since the 2019 tax filing season hasn’t ended. Hell, even if it wasn’t rightfully extended, it still wouldn’t have passed yet. 2018 is the most recent tax year they can use.

That’s why I think they shouldn’t means test this. People are gonna fall through the cracks.

 

[TigerBo413]

Nobody on TI will admit it if they get a check. That would mean admitting to being a poor and a socialist.

Oh is that right? I’ll be proudly getting a check, I’m 24 years old and have been busting my ass to keep my business I started running through this difficult time, I’m not poor or a socialist. But I’ll gladly take the check. So you sir can go suck a big one

 

[Tigerfaith]

Not everyone gets a check. If you made 150k as a family in 2018 you don't get money. I would imagine that is a lot of folks on here.

Not true. Families making less than $198000 will get a check. An individual making less than $99K will get a check.

 

[nytigerfan]

Oh is that right? I’ll be proudly getting a check, I’m 24 years old and have been busting my ass to keep my business I started running through this difficult time, I’m not poor or a socialist. But I’ll gladly take the check. So you sir can go suck a big one

Suck a big one? A simple thank you would be more appropriate. I won't be receiving a check, but I have already paid my taxes in full. So you are welcome. My business will be hurting as well. I will still be paying my employees, despite making significantly less myself. Enjoy spending my hard earned money.

The truth is I have no problem with people getting help when they need it. I never have. I just think it is funny that the people who have always had a problem with it are now lining up to get a handout.

And apparently @scotchtiger suddenly has no problem with it.

 

[LadyTigerP]

That's when the phaseout starts.

Where did you get info on the limits & caps? I'm trying to find a reputable article that have allbthe guidelines. Thank you!

 

[scotchtiger]

it looks like you will have an easy decision in the November election. Either vote for Biden or vote for a socialist.

Lol. You think uncle Joe would send me a check?

 

[nytigerfan]

Lol. You think uncle Joe would send me a check?

Joe isn't a socialist, although I am sure you have called him one before. Do you support handout checks?

 

[scotchtiger]

And apparently @scotchtiger suddenly has no problem with it.

What are you talking about? I don’t think I’ve commented on the topic other than to point out the income limits relative to the OP and TI.

And I won’t be getting a check, but acknowledge we need to do something to help impacted families. These are unprecedented challenges.

It’s a shame you aggressively politicize this. We all need to pull together during this time.

 

[nytigerfan]

What are you talking about? I don’t think I’ve commented on the topic other than to point out the income limits relative to the OP and TI.

And I won’t be getting a check, but acknowledge we need to do something to help impacted families. These are unprecedented challenges.

It’s a shame you aggressively politicize this. We all need to pull together during this time.

lol. you have been railing against socialism non stop on the site. now that your boy trump wants to give hand outs, you are using the classic "stop politicizing this" argument. cop out.

 

[gregorycarlisle]

That is actually exactly how you solve a liquidity problem, not a solvency problem.

Liquidity in credit markets