Now they have added monthly payments for having kids on top of the $1,400 stimulus payment?

March 10, 2021, 05:37 AM

Black92LX

https://www.wcpo.com/news/nati...illion-stimulus-bill

What is known about the new child tax credit

quote:
While some details are being ironed out, here is what is known about the new child tax credit structure:

- The per child amount will increase from $2,000 per year to $3,000 per year in 2021. For children up to age 5, the credit increases to $3,600 per child per year.

- Half of the child tax credit will be available through a monthly payment to parents starting in July. For school aged children, that would mean parents would be eligible for monthly $250 checks, and $300 monthly checks for younger children.

- Taxpayers can opt out of the monthly payments and take the entire credit as part of their annual tax return.

I am so lost with all this crap they are throwing around.
If I am reading this right some folks will start getting monthly payments for each kid in July???
This has got to stop. Why not just lower taxes on me from the get go??
They say it is slated for a year and here is exactly what I see happening. Wow, this worked so well people are so happy let’s just do it for every adult this go round.

March 10, 2021, 06:06 AM

wcb6092

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

The Democrats want universal basic income. This is where it will start.

March 10, 2021, 06:21 AM

Scoutmaster

quote:
Originally posted by Black92LX:. . . I am so lost with all this crap they are throwing around.
If I am reading this right some folks will start getting monthly payments for each kid in July???
This has got to stop. Why not just lower taxes on me from the get go?? . . .

Well, what starts as a safety net becomes a hammock, which then becomes a straight jacket. That is the liberal plan, to make people dependent on the gov't. That is how they gain their power. In the name of helping the people, they enslave the people.

March 10, 2021, 06:38 AM

Woodman

quote:
Originally posted by Scoutmaster:
what starts as a safety net becomes a hammock

Lifting them out of poverty ...

You'd be amazed at the life cycle of lifting people out of poverty. Rent voucher, they move in, a bunch of new furniture gets delivered. They immediately stop paying their 'shared cost' of the home. Four months later, on the cusp of eviction, they move out. You're lucky if they leave the toilet and furnace. Stoves and refrigerators are fair game.

All the new furniture and mattresses get tossed into a dumpster. A friend of 32 years is maintenance plumber to hundreds of such units. He never stops marveling at the huge amount of new stuff left behind in apartment after apartment.

March 10, 2021, 07:11 AM

Patriot

Im so tired of paying for other peoples kids.

You shit them out...you support them!

March 10, 2021, 07:15 AM

Shaql

quote:
Originally posted by wcb6092:
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

The Democrats want universal basic income. This is where it will start.

A new implementation of welfare. Have a kid, we'll pay for it! As a matter of fact, have 10!

March 10, 2021, 07:26 AM

SIG4EVA

As a parent of 2 school age kids, this is ridiculous. I didn't want any of the stimulus checks to start with.

March 10, 2021, 07:31 AM

Graniteguy

Unless stopped, this will get much, much worse.

Most Americans are completely oblivious to the ramifications of this free money.

There is a reason why DC is now gated in and a request has been made for a permanent military presence there.

March 10, 2021, 07:32 AM

PASig

It’s vote buying, plain and simple if you ask me.

Next time there’s a big important election, the Dems will tell everyone: “You see that evil, stingy no-heart-having Republican there? He wants to take all those ‘benefits’ we gave you away!”

And they’ll even probably portray him as this:

March 10, 2021, 07:41 AM

Aglifter

I will say this, and Milton Friedman suggested it, if welfare cannot be eliminated:

Trash every program, and turn the budget into universal basic income.

Much more efficient, overall - and, frankly, it'd be a rather staggering amount...

Might actually be cheaper. I know "war on poverty" programs alone, work out to about $40k/household/year

March 10, 2021, 08:17 AM

bigwagon

quote:
Originally posted by PASig:
It’s vote buying, plain and simple if you ask me.

Next time there’s a big important election, the Dems will tell everyone: “You see that evil, stingy no-heart-having Republican there? He wants to take all those ‘benefits’ we gave you away!”

And they’ll even probably portray him as this:

Already happening here in Wisconsin, with incessant TV ads criticizing Ron Johnson for voting against the stimulus bill.

March 10, 2021, 08:27 AM

TMats

We’re working on our federal taxes right now. About the last question in the tax program is, “Did you receive stimulus check(s) in 2020?”

Yeah, we did.

Next step for us. “Pay half of that back in taxes.”

March 10, 2021, 08:35 AM

Flash-LB

quote:
Originally posted by TMats:
We’re working on our federal taxes right now. About the last question in the tax program is, “Did you receive stimulus check(s) in 2020?”

Yeah, we did.

Next step for us. “Pay half of that back in taxes.”

Nope. It's not taxable.

https://www.kiplinger.com/taxe...check-taxable-income

Is Your Stimulus Check Taxable?

Wrong! There's a loophole in the law that prevents you from having to pay taxes on the stimulus check money you get from Uncle Sam. As it turns out, your stimulus check isn't "income" after all, according to the law. Instead, it's simply an advance payment of a tax credit. And tax credits aren't taxable income.

March 10, 2021, 08:36 AM

PASig

quote:
Originally posted by TMats:
We’re working on our federal taxes right now. About the last question in the tax program is, “Did you receive stimulus check(s) in 2020?”

Yeah, we did.

Next step for us. “Pay half of that back in taxes.”

But why? If you’re being hammered at tax time then you need to examine your tax withholding.

No different than if you regularly get a large refund, you’re overpaying taxes there.

You appear to be underpaying.

March 10, 2021, 08:42 AM

Black92LX

quote:
Originally posted by TMats:
We’re working on our federal taxes right now. About the last question in the tax program is, “Did you receive stimulus check(s) in 2020?”

Yeah, we did.

Next step for us. “Pay half of that back in taxes.”

Not paying it back in taxes. The tax programs are written by default to start with that money coming back to you in the return.
When you choose you got the money already it removes it and it looks like a tax hit but it is just removing money you already got.

March 10, 2021, 08:45 AM

TMats

Glad I made the post. Thanks

March 10, 2021, 10:32 AM

Rey HRH

Michael Savage said he quit being a social worker in New York when he had to deliver a check to a client for new furniture when he had cardboard boxes for furniture in his apartment.

"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.

March 10, 2021, 04:11 PM

GWbiker

I saw a bumper sticker in Philadelphia some years ago: "The Government is not your baby's daddy".

March 10, 2021, 04:16 PM

cslinger

quote:
The Democrats want universal basic income.

I mean hell I WANT a universal basic income too. I also WANT world peace and maybe a unicorn. I am just smart enough to know none of those things are real or practical. Money has to be generated from somewhere and people need Incentive to work, innovate and invent.

But hey what the hell. I for one can’t wait to hear Oprah yelling YOU GET A BASIC INCOME, YOU GET A BASIC INCOME, YOU GET A BASIC BASIC INCOME!!