Trump seeking $850B in emergency stimulus ($500B in payroll tax cut, $250B for small business loans, $58B for airlines) UP: Possibly sending checks

Oct 25, 2017
664
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
 
Dec 21, 2017
12,062
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
This is all I'm honestly asking for.
 

Coolverine

Member
May 7, 2018
373
i certainly wouldn't mind $1200 a month extra in my pocket, but if the alternative is just to issue halts on the typical bills of rent, mortgage, credits cards, student loads, personal loans, then i'd happily pass on any kind of extra check, since it is essentially the equivalent or more, to a lot of people.
 

JeTmAn

Member
Oct 25, 2017
3,386
Checks for all is a dumb idea, right? My income is still fine, nothing's changed for me. So I don't need that money.

But someone who's out of a job will probably need that money, and for longer than just one or two months. Beefing up unemployment seems like the way to go.
 

Killthee

Member
Oct 25, 2017
2,910
Checks for all is a dumb idea, right? My income is still fine, nothing's changed for me. So I don't need that money.

But someone who's out of a job will probably need that money, and for longer than just one or two months. Beefing up unemployment seems like the way to go.
They can do both. Checks for everyone now to help the people who need them in the coming weeks, beefed up unemployment for the people who are gonna need it in the coming months, and taxes next year for the people that didn’t need the checks that were sent out.
 

Thebox

Member
Dec 26, 2019
53
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
This is what needs to be be done.
 

Kayotix

Member
Oct 25, 2017
1,613
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
This is prolly the easiest and most effective way. Which means it won't happen.
 

hodayathink

Member
Oct 25, 2017
2,298
Checks for all is a dumb idea, right? My income is still fine, nothing's changed for me. So I don't need that money.

But someone who's out of a job will probably need that money, and for longer than just one or two months. Beefing up unemployment seems like the way to go.
It looks like for right now they've agreed to do both, checks for everyone plus beefed up unemployment.
 

Yerffej

Member
Oct 25, 2017
8,219
Checks for all is a dumb idea, right? My income is still fine, nothing's changed for me. So I don't need that money.

But someone who's out of a job will probably need that money, and for longer than just one or two months. Beefing up unemployment seems like the way to go.
If you're in the right bracket, you'll get something. Spend it. It's what they want.
 

Pikachu

Traded his Bone Marrow for Pizza
Member
Oct 25, 2017
3,576
How do they know where to mail these checks? My address on last year's taxes was different.

Unless it's direct deposit
 

MrRob

Member
Oct 26, 2017
4,726
How do they know where to mail these checks? My address on last year's taxes was different.

Unless it's direct deposit
I'm wondering the same. I moved 8 months ago and haven't yet filed my taxes with my new address on it. My drivers license still has my old address, my voter registration is the old address, for all I know the government has no idea where I actually live. (Hello, NSA)
 

skeptem

Member
Oct 25, 2017
1,725
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
Was listening to the guy in charge of TARP when we bailed out the banks in 2008. His lesson learned was that allowing that domino effect to happen will cause more of a lasting impact than the immediate finincial burden of doing exactly what you said.

Also, he said to get rid of means testing, like who cares about 1200 dollars going to a millionaire right now. We can tax them that later
 

DonnieTC

Member
Apr 10, 2019
189
How do they know where to mail these checks? My address on last year's taxes was different.

Unless it's direct deposit
I'm wondering the same. I moved 8 months ago and haven't yet filed my taxes with my new address on it. My drivers license still has my old address, my voter registration is the old address, for all I know the government has no idea where I actually live. (Hello, NSA)
Did you fill out a change of address with the USPS when you moved? If so they'll forward to your new address for the first year. If you didn't then they outline how to notify them and government agencies of your new address here: https://www.usa.gov/post-office#item-37197
 

Citizencope

Member
Oct 28, 2017
2,474
i certainly wouldn't mind $1200 a month extra in my pocket, but if the alternative is just to issue halts on the typical bills of rent, mortgage, credits cards, student loads, personal loans, then i'd happily pass on any kind of extra check, since it is essentially the equivalent or more, to a lot of people.
If they aren’t discussing this they are dumber than I already thought they were.
 

greepoman

Member
Oct 26, 2017
873
Checks for all is a dumb idea, right? My income is still fine, nothing's changed for me. So I don't need that money.

But someone who's out of a job will probably need that money, and for longer than just one or two months. Beefing up unemployment seems like the way to go.
If your area becomes a hotspot it could go on full scale lockdown at any time and only a very few select jobs will be working, what if your work from home suddenly doesn't work, etc. There are so many cases where you think you're fine til you're not and it's super complicated trying to account from who "needs" it vs who doesn't.

Unemployment doesn't help if your job is reducing your hours or you have to do leave with out pay but want to eventually go back right?

So the solution is both beef up unemployment and send checks. Unlike a stock buyback people 90% of people will spend this money right back into the economy.
 

Xirj

Member
Sep 10, 2019
6
How hard is it to just send $1000/adult +$500 per child and make it taxable? That way it automatically corrects for people that are still fully employed and earning.
 

Jarmel

The Jackrabbit Always Wins
Member
Oct 25, 2017
5,709
New York
I'm starting to think we should slow all of this down until the public has a good look at what is in that bill. I have a feeling way too much of that is going to corporations.
 

Vic_Viper

Member
Oct 25, 2017
13,992
I'm starting to think we should slow all of this down until the public has a good look at what is in that bill. I have a feeling way too much of that is going to corporations.
They want to rush this to a vote ASAP so exactly that doesnt happen.

In a perfect world, they would have split this bill in two. One for businesses and one for getting money to citizens. But when it takes almost an entire week just to get the bill to a vote, they have to cram in as much as possible.
 

LanceX2

Member
Oct 25, 2017
2,656
so 1200 becomes 1000 and one time only but businesses get 3.5 trillion.

GJ Dems. Trump will win soley by saying he wanted to give families more.
 

Arttemis

The Fallen
Oct 28, 2017
2,871
They really just need to put together something clean calling for a full on pause for mortgages, car payments, credit cards, ect. We bailed out the banks last time, it's their turn to suck it up. Landlords don't have to pay on the mortgages, then small businesses don't have to worry about rent, and their employees don't have to worry about rent/mortgages. It's the simplest solution. Banks aren't paying out interest anyway, don't see why they can't go without cash flow for a bit.
This is what I've been saying for days. People are forced to cough up money for their homes or apartments when the economy has essentially screeched to a halt. It makes no sense. Landlords shouldn't be leeching off everyone when interest rates are 0%.
 

Plinko

Banned
Oct 28, 2017
5,517
If they think 2 weeks of payroll loans will be enough for small businesses to not lay off workers, they're out of their minds.
 

Lexad

Member
Nov 4, 2017
1,285
I guess they have suspended student loan payments for 60 days
i certainly wouldn't mind $1200 a month extra in my pocket, but if the alternative is just to issue halts on the typical bills of rent, mortgage, credits cards, student loads, personal loans, then i'd happily pass on any kind of extra check, since it is essentially the equivalent or more, to a lot of people.
student loan repayments are paused for 2 months
 

CrichtonKicks

Member
Oct 25, 2017
3,050
Do people who file for unemployment automatically get the stimulus check? It doesn't make sense to me to phase out the stimulus above $75k based on 2018 income when so many people are being laid off and their income from 2018 would be largely irrelevant to their current financial status.
 

Hedge

Member
Oct 26, 2017
125
So just to give a little clarification on the bill as it was originally written

-If you did not file a return in 2018, they will use 2019 return as long as it's filed

-As long as you report 2500 in income you get something

-The full amount is based off your tax liability, not the amount you would have owed or not owed at tax time. So just because you got a refund does not mean you had nothing in tax liability. The tax liability is based off your taxable income (AGI less deductions) times tax rates. If you got a refund that just means your tax credits and paycheck withholdings were greater than your tax liability

-if your situation changed from 2018 to 2020, yeah you got screwed but not 100% screwed. Come tax time for 2020 returns, it will calculate what you should have received based off the 2020 tax information and give you a credit against your tax liability for the amount you did not get but should have (or make you pay if you ended up getting more than you should have)

The bill is shit and likely to change but hopefully that clears some things up