Stimulus? Honest question follows

[Richard Coody]

That sucks for me I am in the one of the lowest income brackets but will still have to pay this back through higher taxes and will receive nothing

Higher taxes?

Seems like we are.cutting.taxes and spending more and.more borrowed money

Is the dollar real? Is the federal debt real?

Or will we just keep the printing presses rolling as long as the world believes in the dollar.

Seems everyone in the world runs to treasury bonds when things take a dump.

Maybe we don't even need taxes. Just print the money to pay the federal budget every year.

You know i am being facetious right!

 

[338 dude]

Higher taxes?

Seems like we are.cutting.taxes and spending more and.more borrowed money

Is the dollar real? Is the federal debt real?

Or will we just keep the printing presses rolling as long as the world believes in the dollar.

Seems everyone in the world runs to treasury bonds when things take a dump.

Maybe we don't even need taxes. Just print the money to pay the federal budget every year.

You know i am being facetious right!

I thought so your last sentence confirmed it and just for the record I am against the stimulus I can always use a few extra bucks but at what cost

 

[Bc'z]

Why do they get to print money?
If I do its counterfeiting.
How come I have to take my lumps, and the government dosen't?
$1200 is a slap in the face if you ask me.
Put another way...
The government will give you a kiss this year, and break it off in your ass the next year.
And for what?
Who gets the warm fuzzy feeling out of this?
Surely not me.

 

[Bc'z]

To top it off the dumbest thing I've heard come out of Trump's mouth was the money he's giving to the dems for the Kennedy Center.
Wait a minute Mr President...
Didn't they just try to remove you from office?
Haven't you run into roadblocks every step of your presidency from the other side of the aisle?
And for this you reward them?
Give me a freakin break already!

 

[338 Mollett]

I don't think Trump is SOB enough.Those Dems better be glad I'm not president !

 

[rjtfroggy]

My pension has been fixed for 23 years, disability from F.D. broke my lumber spine fighting a fire, 1/2 pay.
I was denied SSD so when I turned 62 I applied for SS and was cut 54% because I had been a Municipal employee even though I worked a second full time job for 20 years, then when Medicare kicked in I was cut another 21% to pay for it. With the last increase mine was so small it ended up a wash, no increase because of Medicare increase.
Now they tell me I may not get the stimulus check because I really don't have a taxable income meaning I basically live below the poverty level.
So for those who think governmental pension should be done away with please tell me what I would live on. Not only did I work for my pension I paid 9% of my weekly pay for it and the town always seemed to forget to pay their share and at times didn't put in what they took out of my pay.

 

[MGYSGT]

I new I should have gotten a SSN card for my dog and cat.

 

[ronsatspokane]

it doesnt matter what their preretirement income was if they dont make more than 75k in retirement they get the check right

Depends on when they retired. Is it based on 2019 income or 2018? I have read different accounts of what the income basis is.

 

[antelopedundee]

Depends on when they retired. Is it based on 2019 income or 2018? I have read different accounts of what the income basis is.

It was explained earlier in this thread. If you already filed for 2019 and are in the system your rebate will be based on the income reported there. If not then it will be based on your 2018 return income.

 

[Richard Coody]

$1000 isn't going to make any difference to me but.for some it may keep them going for another week or two. Sure does add up quick when you say every American.

Now those who no fault of their own have lost.their jobs I believe we need to keep them going.

Just think what.happens to our.society when we have millions of hungry people. Civilization is pretty fragile. We have seen it often on a small scale with natural disasters. Think about the entire country. Right now it doesn't look like things are.going to get that bad really but for sure this should be a warning shot for what could be coming. A hungry man is pretty desperate. A hungry man with a hungry family even more so.

Our government knows this. Cost Marie Antoinette her head. The wealthy elite have the most to lose if our society breaks down into anarchy. That is why congress and the Fed are pulling out all the stops.

 

[ronsatspokane]

It was explained earlier in this thread. If you already filed for 2019 and are in the system your rebate will be based on the income reported there. If not then it will be based on your 2018 return income.

Just heard on the news, 2018. Of course that was the mainstream media so it must be taken with a grain of salt. A rather large grain at that.

 

[redrockranger]

My pension has been fixed for 23 years, disability from F.D. broke my lumber spine fighting a fire, 1/2 pay.
I was denied SSD so when I turned 62 I applied for SS and was cut 54% because I had been a Municipal employee even though I worked a second full time job for 20 years, then when Medicare kicked in I was cut another 21% to pay for it. With the last increase mine was so small it ended up a wash, no increase because of Medicare increase.
Now they tell me I may not get the stimulus check because I really don't have a taxable income meaning I basically live below the poverty level.
So for those who think governmental pension should be done away with please tell me what I would live on. Not only did I work for my pension I paid 9% of my weekly pay for it and the town always seemed to forget to pay their share and at times didn't put in what they took out of my pay.

Check your Constitution. Check this also, U. S . Court of Appeals for the First Circuit. Docket #17-1293.

In Iowa the first Public Pension was given to the Judicial System. This was in 1949. IRS and 401 K did not come about until the 1960's. CHECK the {ORIGINAL SOCIAL SECURITY ACT OF 1935} The first two sections will tell you much.

The only pension the U S Constitution requires is SOCIAL SECURITY. All the pension schemes alphabet soup is strictly voluntary. { IRA - 401k} Your state has a 401k ,these also but given a different name.

 

[JEFFPPC]

That sucks for me I am in the one of the lowest income brackets but will still have to pay this back through higher taxes and will receive nothing

The info given is incorrect SS recipetents are eligible within the guidelines. Not sure on SSI but I believe they are also.

 

[C.E.Smith043]

From Fox News - Do you qualify for a stimulus check in Senate’s coronavirus response bill?

https://www.foxnews.com/politics/do...us-check-in-senates-coronavirus-response-bill

 

[redrockranger]

My pension has been fixed for 23 years, disability from F.D. broke my lumber spine fighting a fire, 1/2 pay.
I was denied SSD so when I turned 62 I applied for SS and was cut 54% because I had been a Municipal employee even though I worked a second full time job for 20 years, then when Medicare kicked in I was cut another 21% to pay for it. With the last increase mine was so small it ended up a wash, no increase because of Medicare increase.
Now they tell me I may not get the stimulus check because I really don't have a taxable income meaning I basically live below the poverty level.
So for those who think governmental pension should be done away with please tell me what I would live on. Not only did I work for my pension I paid 9% of my weekly pay for it and the town always seemed to forget to pay their share and at times didn't put in what they took out of my pay.

Was your Social Security decreased because of the Pension Offset Clause ? Were Federal Funding involved if funding the city fire department ?

 

[redrockranger]

Why do they get to print money?
If I do its counterfeiting.
How come I have to take my lumps, and the government dosen't?
$1200 is a slap in the face if you ask me.
Put another way...
The government will give you a kiss this year, and break it off in your ass the next year.
And for what?
Who gets the warm fuzzy feeling out of this?
Surely not me.

Buy Bit Coin. NOT.

 

[Knotwild]

It's not really about us. Sure, it might buy some votes. But it is mainly about attaching "pork" and things we don't want to the bill because they are pretty much assured it will pass. Also, if you do some reading, you will see that it allows the big players to reap profits with no risk off of bond re-sales funded by cheap money. Nothing was fixed after 2008, they kicked the can down the road. Do a search and see how much money the fed has injected since 2008. So, their approach now is to inject some more, much more.

 

[Straightshooter1]

Why do they get to print money?
If I do its counterfeiting.

BTW: you can print your own money any time, just like the movie industry does. You might say coupons are a form of printed money. It's only counterfeiting if you're trying to replicate the money someone else produces . . . and one has to watch out for copyright infringement. Those who produce cryptocurrency have in effect "printed" their own money. Money is only as good as people put trust in it's value. If you print your own paper money, you just need to get enough people to put some value in it to really make it worth something. If the American people, or the people of the world for that matter, have little or no regard to the value of the American dollar, then you know what happens to its value . . . .

 

[Bc'z]

It's not really about us. Sure, it might buy some votes. But it is mainly about attaching "pork" and things we don't want to the bill because they are pretty much assured it will pass. Also, if you do some reading, you will see that it allows the big players to reap profits with no risk off of bond re-sales funded by cheap money. Nothing was fixed after 2008, they kicked the can down the road. Do a search and see how much money the fed has injected since 2008. So, their approach now is to inject some more, much more.

In return driving up the cost of goods and services, off setting what little pay increases the working class might recieve.
Vicious circle!

 

[rjtfroggy]

Was your Social Security decreased because of the Pension Offset Clause ? Were Federal Funding involved if funding the city fire department ?

Municipal pensions are reduced up tp 66.6% because of a 1988 law from president Regan, who after firing air traffic controlers accused government employee's ( city, state, federal) of double dipping, even though we worked and we paid into the funding.
As to your last response we had 457 accounts which were pre tax. There was one thing nobody knew going in and that was the city had control over all the funds, they could if need be raid the funds to balance budgets or pay their share of the pension funds. I found out the hard way after the markets crashed and my funds were down to basically what I put in. It took almost a year and some lawyer fees to get my money out but it had to roll over to a similar type fund ( IRA or private annuity) other wise you would have to pay the tax up front.
Again Thank you pres. Regan.