The problem is we are not providing meaningful help to those truly suffering. Why would we give money to the children of a family earning over $150,000 a year? Why would we give any money to those who have not suffered a financial setback?
60% of Americans have suffered a financial setback? Does that include those who benefited from the 17.25% increase stock market in the last year?
Excerpts from CBSNews.com
The last-minute signing was a welcome development for the 6 in 10 people who have suffered a financial setback due to the pandemic,
The second round of checks will have the same type of income phaseouts as in the CARES Act, with the stimulus check payments reduced for earnings above $75,000 per single person or $150,000 per married couple.
The amount of payment individuals receive will be reduced by $5 for every $100 of income earned above those thresholds, according to the House Appropriations committee.
Overall, almost everyone in the bottom 80% of the income distribution in the U.S. will receive a check, according to the Tax Foundation’s estimate. The share of filers who will receive a check dwindles for people whose incomes place them in the top 20% of earners, with very few taxpayers in the top 5% qualifying, the Tax Foundation estimated.
Of course, even if they don’t receive the $600 themselves, single people and couples with incomes above those thresholds would still receive payments for their children, as long as those children are under 17.
My last stimulus money went to China since only the big box stores were allowed to be open. I am retired and didn’t need the money because my income didn’t change. I spent the money but none of it helped those who were and are still out of work by government decree. Now I am going to get another $2k? I’ll spend the money again so when my grandchildren have to pay the money back in higher taxes to maintain the interest payments on the national debt, they will be able to say at least grandpa sent his share to China, twice.
I am for the stimulus but I wish it was directly helping small businesses and the service industry and their employees who were harmed the most by these continued illogical shutdown orders.
The stimulus money is not for you so much as it is for those who you will pay for goods and services. It’s not welfare; it’s to stimulate the economy. So please quit complaining and do your part by spending it.
Right. Lazy way to go about it, and it–and the $2k flavor pushed by Senate Dems even more so–feels like some kind of political ploy and waste rather than good policy. My household makes nearly $100k/yr. We do not need this. Not that I will give it back.