cancel
Showing results for 
Search instead for 
Did you mean: 
     
Highlighted
Participant ○○○

Senate Proposal for direct payments

" individuals making up to $75,000 annually would be eligible for a $1,200 check from the federal government."

"Married couples who file their taxes jointly would have to make less than $150,000 to qualify for their payment, which would be $2,400."

"From there, according to McConnell's proposal, the payments would decrease. For individuals, the sum of the payment would fall by $5 for each $100 earned over $75,000."

"For married couples earning more than $150,000, the payment would also decline gradually, and it would phase out completely for couples making more than $198,000, according to the plan."

There is more here.

 

49 Replies
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments

Interesting. Getting back some of my tax dollars for once maybe! Guessing they mail checks and then you pay back any reduction via the tax filing at tax time.

 

0 Kudos
Highlighted
Participant ○○

Re: Senate Proposal for direct payments

SOCIALISM! But hey, why not?

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments

Helicopter Money.

Bob

0 Kudos
Highlighted
Explorer ○○○

Re: Senate Proposal for direct payments

 

Based on income, so many here (including me) would not get a check.

Highlighted
Participant ○○○

Re: Senate Proposal for direct payments

These are not going to pass for several reasons.

1. There is an infighting within the senate GOP. A lot of them have openly criticized these proposals on different aspects of the proposals.

2. McConnell does not want to negotiate with Pelosi but needs Schumer's support for passing these proposals. Is it going to happen? Ney.

3. Pelosi's caucus has very many different ideas that are contained in McConnell's proposals and  some that are not contained in his proposals. They are in the process of collecting the ideas from its members. Essentially, GOP has lost its reputation as well as its control on the nation's psych, and finally, I think that it will be the will of the house (as John Boehner used to say).

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments


@ECEPROF wrote:

These are not going to pass for several reasons.

1. There is an infighting within the senate GOP. A lot of them have openly criticized these proposals on different aspects of the proposals.

2. McConnell does not want to negotiate with Pelosi but needs Schumer's support for passing these proposals. Is it going to happen? Ney.

3. Pelosi's caucus has very many different ideas that are contained in McConnell's proposals and  some that are not contained in his proposals. They are in the process of collecting the ideas from its members. Essentially, GOP has lost its reputation as well as its control on the nation's psych, and finally, I think that it will be the will of the house (as John Boehner used to say).


John Boehner. Who went from opposing medical marijuana to hawking first tobacco and now weed!

0 Kudos
Highlighted
Explorer ○○

Re: Senate Proposal for direct payments

I realize everyone is groping for short term fixes which are probably necessary and reassuring, but won't all this spending and fiscal stimulus prove inflationary down the road. 

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments


@grierchas wrote:

I realize everyone is groping for short term fixes which are probably necessary and reassuring, but won't all this spending and fiscal stimulus prove inflationary down the road. 


That is certainly a good question. More uncharted territory for the FED down the road.

 

0 Kudos
Highlighted
Participant ○○

Re: Senate Proposal for direct payments

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments

Ahahahahaha

I give this thread a 30 minute shelf life.

'Determined to address the “No. 1 concern of the American people during the coronavirus crisis,” Fox News Channel announced on Thursday that it would air a three-part prime-time series on Hunter Biden.

The series, to be he co-hosted by Sean Hannity, Tucker Carlson, and Rudy Giuliani, will attempt to soothe the anxieties of Fox viewers who have suddenly been plunged into uncertainty about the activities of Joe Biden’s son.

“People are trapped inside their homes, they’re worried, they’re scared, and they don’t know where to turn for accurate information about Hunter Biden,” Hannity said. “We’re here to fill that need.” '

0 Kudos
Highlighted
Participant ○○○

Re: Senate Proposal for direct payments

The GOP wants to link your name with SSN, Political Affiliation, and Bank Account. 

Sounds more like a recipe for automatic withdrawal than automatic deposit if the Russian Hackers get handed the target list.

 

Highlighted
Participant ○○○

Re: Senate Proposal for direct payments

His proposals are not going anywhere if McConnell wants Schumer's cooperation. Schumer has slammed the proposals.

 

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments

Dr.V.

Borowitz is a humorist.

Bob

Highlighted
Valued Contributor

Re: Senate Proposal for direct payments


@GLI2019 wrote:

Dr.V.

Horowitz is a humorist.

Bob


A good one too! He nailed it. Very believable. The best satire is always rooted in truth.

0 Kudos
Highlighted
Contributor ○○○

Re: Senate Proposal for direct payments

Nope. Return of equity.


@pudman wrote:

SOCIALISM! But hey, why not?


 

Highlighted
Valued Contributor

Re: Senate Proposal for direct payments

Right, Dr. V.

He's the best. 👍

Bob

Highlighted
Explorer ○○○

Re: Senate Proposal for direct payments

The World Turned Upside Down is an English ballad which was played at Yorktown when the British surrendered.  And so, once again, the world is turned upside down.  The government handing out cash, spending on bailouts, throwing deficit controls out the window.   

Highlighted
Participant ○○

Re: Senate Proposal for direct payments

0 Kudos
Highlighted
Valued Contributor

Re: Senate Proposal for direct payments


@pudman wrote:

Steve has a good point....................

https://www.washingtonpost.com/business/2020/03/20/heres-why-giving-every-american-1200-is-really-ba...


I actually agree with this 100%. The money should be targeted to those who have no paycheck, and not enough for food and expenses, small business owners to retain employees, large businesses only if they cut executive pay and can prove their are using it to retain workers, etc. Giving money to people not in financial distress means they just set it aside. That is what I will do. I never increase my spending in response to windfalls. I save for rainy days, and it's a monsoon out there right now.

Actually, I think I'll just give it to my son. He won't spend it either though. But, it will provide him a cushion as a young person just starting out.

Announcements

Morningstar is here to help you respond to the Coronavirus crisis.