Here is a new twist, seniors need more money in the form of a $1,400 stimulus check because the high 2022 COLA put them in a higher tax bracket. 🤔
Fact is that during the pandemic seniors in general have seen their assets increase in value while spending declined. Certainly the vast majority of seniors do not need a stimulus check. The broad assumptions about seniors are not valid.
The 2022 cost-of-living adjustment (COLA) has increased the highest amount in four decades, pushing many seniors into a higher tax bracket. Therefore, the stimulus check is expected to help offset the additional costs.
Since 2001, “COLAs have increased Social Security benefits by 55%,” affecting seniors because overall costs exceed the increase with the COLA, as evidenced by the fact that housing and healthcare costs increased by 118% and 145%, respectively.
“We’ve heard from thousands of them [seniors] who have exhausted their retirement savings,” said TSCL Chairman, Rick Delaney. “Many have written to us that ‘our government has forgotten about us’.
A $1,400.00 stimulus check, for Social Security recipients could be a way to get extra non-taxable income to them.” Over 95,000 people have signed a petition from TSCL about this $1,400 check for SS beneficiaries, so pressure is growing.
Source: Stimulus Checks 2022: When will SS beneficiaries receive a $1,400 payment? | Marca
Then we have this other extreme. Imagine paying taxes for only those things you want at the moment.
Politicians like Sanders, Warren, Jayapal and others constantly Tweet about the free stuff we deserve. They cover all the wants of children to seniors. But other than increasing taxes on the wealthy, they never mention paying for the things we deserve.
They never tell the full story or the truth, they are too busy creating envy and division among Americans.
QUINNSCOMMENTARY 
As far as the I don’t want to pay school tax goes, I think that those people should refund the taxpayers for their wasted education because that is not how things work. Only people over 75 are the ones that don’t have kids or grandkids?
But I am on board if Warren and others want to forgive college loans because than I want to be forgiven for the taxes to pay for public schools that teach this ideology of free everything. Schools have failed at math, history, and civics.
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The “woe is me” panhandling organizations have hit a new one with the higher tax bracket scheme. I think the time of stimulus checks sent willy nilly are over but I could be wrong.
It is true that some seniors have exhausted savings but that’s because they didn’t have much to start with. I know it’s tough to try to make it on social security alone but a stimulus check is not going to help past a month or two. Maybe their families can pitch in and provide some relief and comfort to them. Senators Sanders and Warren are too busy building their own brand to help out in any realistic way.
I noticed another James replying so I am now James2
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” I think the time of stimulus checks sent willy nilly are over but I could be wrong.”
By definition, the purpose of stimulus checks was/is to stimulate the economy; assisting or “pandering” to seniors, or other (mostly lower income persons) was just ancillary.*
Did it work? Most economists agree that it did, at least in the short run.
………….
Most people should remember that a “higher tax bracket” is only on marginal income. If a married couple earned $81,050 last year (12% marginal rate) and $82,050 this year, they only pay 22% on the last $1000. That’s an extra $100.
I have had co-workerts in the past tell me (adamantly) that they turned down overtime because the higher tax bracket meant their net income was actually lower. No use arguing, I was happy to take their OT, especially in my younger years.
If I ever make over $81,050, I’ll let you know.
Ergo the debate of giving stimulus to non-citizen residents. Of course, they will spend the money, that’s what we need… stimulus.
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