czarina
Has Achieved Nirvana
| Where's the bill that's going to save people's lives? You know, that allows hospitals and clinics and health departments to test entire communities? The one that quintuples the number of ventilators and ICU beds? The one that builds triage hospitals? The one that dispenses free masks, gloves, and hand sanitizer to every American?
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fear is the thief of dreams
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Has Achieved Nirvana
| quote: A forthcoming mammoth stimulus package will include expanding unemployment insurance, a top Republican senator said on Saturday.
The decision to include the provision is a major concession to Democrats, who had viewed bolstering the program as a top priority in the days-long negotiations.
"The Democrats are getting some of the things that they asked for me. They've talked all along about addressing the needs of workers – this does that, small businesses, this does that. They're getting what they wanted on unemployment insurance. This addresses that," Senate Republican Whip John Thune (R-S.D.) told reporters after a closed-door lunch.
Negotiators are still locked in meetings as they try to clinch an agreement "in principle" on the mammoth spending package, which is expected to come in above $1 trillion.
Both Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.), the top members of the Finance Committee, have stopped short of saying they have a deal on the unemployment insurance provision, arguing that it's
https://thehill.com/homenews/s...employment-insuranceI heard elsewhere that the cost is in the 2 trillion range.
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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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| | | Posts: 38221 | Location: Somewhere in the middle | Registered: 19 January 2010 | 
IP
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Has Achieved Nirvana
| quote: Originally posted by Jack Frost:
Are the phas out numbers per person?
Jf
I just saw this: quote: As Congress pushes through a $2 trillion stimulus bill, some Americans can expect checks from the government to help them cope with the economic devastation stemming from the coronavirus crisis.
Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child.
But you have to meet certain qualifications in order to be eligible for the money, based on your adjusted gross income in your 2018 tax returns. If you earn more than $75,000 as an individual, $112,500 as the head of household or $150,000 if you are married and filing jointly, the amount of those checks starts to get reduced.
You also must have a valid Social Security number in order to receive the funds.
https://www.cnbc.com/2020/03/2...-of-coronavirus.htmlI haven't seen specifics regarding how the phase out works, and the upper limits. I'm not even sure the text of the bill is available online yet. edit: A little more info from CNN. quote: Under the plan as it was being negotiated, individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 -- and an additional $500 per each child. The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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| | | Posts: 38221 | Location: Somewhere in the middle | Registered: 19 January 2010 |
IP
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Has Achieved Nirvana
| Still working out the details. quote: A handful of Republican senators on Wednesday threatened to delay the $2 trillion coronavirus spending bill over a proposed increase to unemployment insurance.
In a statement, Sens. Tim Scott, R-S.C., Lindsey Graham, R-S.C., and Ben Sasse, R-Neb., said that the bill could provide a "strong incentive for employees to be laid off instead of going to work" because some people could theoretically make more by being unemployed.
"This isn’t an abstract, philosophical point — it’s an immediate, real-world problem," they continued. "If the federal government accidentally incentivizes layoffs, we risk life-threatening shortages in sectors where doctors, nurses, and pharmacists are trying to care for the sick, and where growers and grocers, truckers and cooks are trying to get food to families' tables."
They added, "We must sadly oppose the fast-tracking of this bill until this text is addressed, or the Department of Labor issues regulatory guidance that no American would earn more by not working than by working."
https://www.nbcnews.com/politi...er-drafting-n1168766
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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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| | | Posts: 38221 | Location: Somewhere in the middle | Registered: 19 January 2010 |
IP
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Has Achieved Nirvana
| quote: Originally posted by piqué:
Where's the bill that's going to save people's lives? You know, that allows hospitals and clinics and health departments to test entire communities? The one that quintuples the number of ventilators and ICU beds? The one that builds triage hospitals? The one that dispenses free masks, gloves, and hand sanitizer to every American?
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Has Achieved Nirvana
| I would think if someone didn't file in 2018, they will probably need to file in 2019. With free file, that shouldn't be a big deal? quote: If you didn’t yet file a 2019 return, the government will use your 2018 information if it has it. It also may use a 2019 Social Security benefit statement, or Form SSA-1099, or the Social Security Equivalent Benefit Statement, or Form RRB-1099.
As for some of the details: quote: Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child.
But you have to meet certain qualifications in order to be eligible for the money, based on your adjusted gross income in your latest tax returns. If you earn more than $75,000 as an individual, $112,500 as the head of household or $150,000 if you are married and filing jointly, the amount of those checks starts to get reduced.
Checks will be reduced by $5 for every $100 exceeding those thresholds. It completely phases out at $99,000 in income for individuals, $146,500 for head of household filers with one child and $198,000 for joint filers with no children.
However, you are still eligible for a check if you have no income or if you rely solely on non-taxable government benefit programs like Supplemental Security Income benefits, or SSI, from Social Security.
“That group of people who are getting Social Security, whether it’s for retirement or for disability, and don’t need to file, will still be able to get a stimulus check,” said Jack Smalligan, senior policy fellow at the Urban Institute, a non-partisan think tank.
That’s after new language was added to the bill to allow the Treasury Department to communicate with other agencies that provide federal benefits. So the government would not necessarily need those individuals to file tax returns in order to get the stimulus checks, Smalligan said.
Americans who live in other countries may also be eligible.
What I'm puzzling over is this (I've seen it in a couple of places and don't understand what it means): quote: More important, the money will not be counted as taxable income. It will be considered a credit, so you can deduct the sum against your future taxes.
https://www.cnbc.com/2020/03/2...-of-coronavirus.html
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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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IP
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Minor Deity
| quote: Originally posted by piqué:
Where's the bill that's going to save people's lives? You know, that allows hospitals and clinics and health departments to test entire communities? The one that quintuples the number of ventilators and ICU beds? The one that builds triage hospitals? The one that dispenses free masks, gloves, and hand sanitizer to every American?
You and I don't very often agree, but we're pretty close on this one. I want to see more about how our industries are ramping up to manufacture what will be needed. I see dribbles here and there, but not on the scale that is required.
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"A mob is a place where people go to get away from their conscience" Atticus Finch
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Has Achieved Nirvana
| Found the explanation regarding the tax credit. Forbes on whether you should file for 2019 or just let 2018 ride. https://www.forbes.com/sites/a...ayment/#5c90886ab9dc
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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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IP
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czarina
Has Achieved Nirvana
| quote: What the fvck makes anyone think that $80k is a lot of money in today's world?
Well, it's a huge amount of money to me. We've never made that much money, combined. And recognized that the $75k is per person, so if you are a couple, that's $150k per *household*. That is a lot of money even in today's world. Someone who makes that much money annually should have no problem having a year's worth of living expenses saved up, if they've been earning that kind of money for more than a few years. So far, it looks like $2,400 and taxes delayed three months will be a windfall for us. Unless my tenant quits paying rent. And, I qualify for unemployment for the first time in my life, as a freelancer. And if the tenant does quit paying, I can get a no-interest small business loan, since I have a manager I pay. Nina is right that this is a blunt instrument--just throwing cash around blind. Seems like the money should be targeted to people who lost their jobs and businesses because they couldn't stay open. Waitresses, child care workers. Flight attendants. People like that. If we come out of this all right I'll set this money aside for good causes. We are very comfortable on half of the limit for one person. I don't understand--and never have--why some people believe they need so much to be comfortable. That's more money than I would ever know how to spend.
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fear is the thief of dreams
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Minor Deity
| Whatever we get we're going to pick a relevant charity or effort and donate it. You'd be surprised at the folks who make twice that and don't have a decent savings account.
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"A mob is a place where people go to get away from their conscience" Atticus Finch
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Minor Deity
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Minor Deity
| quote: Originally posted by Axtremus: https://www.politico.com/news/...o-dead-people-219063Treasury now wants the stimulus money sent to dead people repaid.
How so? I was volunteering last week with a neighbor whose dead brother got the stimulus.. She now has to wrangle with the gov and the attorney to straiten it out.. So who pays for that? And yet I will not get mine till it comes in the mail..and I am alive..
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"Wealth is like manure; spread it around and it makes everything grow; pile it up, and it stinks."
MillCityGrows.org
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