Question about government stimulus checks

April 14, 2020, 07:17 AM

chellim1

quote:
All these stimuli are going to lower our debt rating and cause inflation. Trump (though not his fault) will go down as the all time king of national debt (by a lot).

Yes...

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor

April 14, 2020, 07:31 AM

AirmanJeff

quote:
Originally posted by Skins2881:
quote:
Originally posted by Blume9mm:
Has anybody figured out that our government is basically paying us to stay home and do nothing?

Which I have noticed is something many here have been complaining about it doing for years with welfare...

Guess what? they just got us all hooked....

If that is the case they owe me a few more checks.

All these stimuli are going to lower our debt rating and cause inflation. Trump (though not his fault) will go down as the all time king of national debt (by a lot).

I still don't know why students and the retired are getting checks when they've lost zero income. Or a family of two that both can work from home.

Makes zero sense. The checks should be for people who lost income, period. Business owners, laid off employees, etc. Giving them to social security recipients is nothing more than a cheap ploy for votes in November.

April 14, 2020, 07:48 AM

braillediver

The $2 Trillion divided by the 360 million population is $5,555 each give or take.

Reckoning Day is not going to be pretty.

April 14, 2020, 08:02 AM

Skins2881

quote:
Originally posted by braillediver:
The $2 Trillion divided by the 360 million population is $5,555 each give or take.

Reckoning Day is not going to be pretty.

If it makes you feel better that is only one round of four or five. Then you can toss in all the money the fed is printing.

April 14, 2020, 08:06 AM

Kraquin

quote:
Originally posted by braillediver:
The $2 Trillion divided by the 360 million population is $5,555 each give or take.

Reckoning Day is not going to be pretty.

You need to subtract 50M+ to account for the under 18 segment as most of them don't work. I'm sure there's other segments who will bump that number up as wll. Regardless, it's more than $5,555 per share.

April 14, 2020, 10:24 AM

Fundman

Wall Street Journal article explains all the details. Basically they are using your 2018 or 2019 return if filed for an advance amount. When they have 2020 income reported the amount could be adjusted but you wouldn't have to pay any back if your actual 2020 income made you unqualified.
https://www.wsj.com/articles/e...od=trending_now_pos3

April 15, 2020, 02:32 AM

kkina

quote:
Originally posted by Paten:
I checked my account at the credit union today and see a direct deposit of $1200 dated for the 15th from the IRS. Anyone else?

I just got mine.

April 15, 2020, 02:54 AM

12131

quote:
Originally posted by kkina:
quote:
Originally posted by Paten:
I checked my account at the credit union today and see a direct deposit of $1200 dated for the 15th from the IRS. Anyone else?

I just got mine.

Yup, direct deposit.

April 15, 2020, 04:26 AM

PowerSurge

Mine was just added early this morning.

April 15, 2020, 06:03 AM

Anush

No stimulus payment, but the IRS tax payment for money I owed for 2019 is showing!
I just checked https://www.irs.gov/coronaviru...omic-impact-payments.
The IRS response was that they had NO bank info! BULL, IRS debited my bank this morning for scheduled 2019 $ owed & both my wife & I receive SS checks into two different banks.

Most of my tax clients are self-employed & as of this morning none have received any SBA PPP or EIDL loan money. It appears most banks have filed PPP for their larger clients & left the small ones holding. Banks get 1% of the loan & 1% of a $1 million loan is greater than 1% of a $100,000 loan.

This message has been edited. Last edited by: Anush, April 15, 2020 07:37 AM