Social Security recipients eligible for stimulus checks
AARP worked to ensure that individuals who are collecting Social Security benefits for retirement, disability or Supplemental Security Income (SSI) will be eligible for the stimulus payments. AARP also successfully fought to guarantee that low-income Social Security recipients will receive the full $1,200 check, not $600 as originally proposed.
The size of the check will decrease based on income for individuals who earned more than $75,000 based on their federal tax return for 2019 (or their 2018 return if they have not filed yet). The payment for individuals will shrink by $5 for every $100 earned over $75,000. For couples who filed jointly, the reduction will start once they earn more than $150,000; for heads of household, at $112,500.
Individuals who earned more than $99,000 and couples who earned more than $198,000 jointly will not receive checks. The income cut-off for heads of households is $136,500.
So I guess I have to ask, why? Why do retirees with income up to $150,000 need a stimulus check? They can’t lose a job, their expenses may even be lower now, they have health insurance.
Another example of grabbing all you can in a time of crisis spending?
Wait, I get it we are hoping upper income retirees will spend the money on new stuff, just to spend it.🤑