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The last stimulus was phased out...it wasn't a hard cut off. I don't know what this one does. If it's a hard cut off and not phased out, then you might be screwed, otherwise as long as it's pretty close to what it was, just over, then you're likely to get at least part of it....plus the money for children. Those dollars are there regardless of income I believe but I could be wrong on that. Haven't read the bill yet as it keeps jumping back and forth for revisions.
Interesting take. Democrats vote for a republican bill yet no republicans vote for a democartic bill and it is somehow all on the democrats?
I think you're screwed for the next stimulus. But it's of little matter, you probably would have had to pay back any stimulus in your 2021 returns if you received a stimulus from using 2019 returns and you didn't qualify from your 2020 earnings.
That's paid leave, not some sort of bonus they would get. Plus, their kids would have to be learning from home to qualify. Not sure if this carve-out is back looking (doubt it), so we're talking about kids not in-person from the date the law goes into effect. How many federal employees would qualify? How many would take paid leave (considering it's capped at $35/hour, or $70k/year annual salary)?
In my 2019 returns I didn't qualify for a stimulus. I did for 2020 and when I filed my returns was able to claim the stimulus credits (think it ended up being $1800).
My wife is a nurse, her hospital had a COVID fund that covered 2 weeks of COVID pay if the employee was out sick with COVID or COVID-related issues (hospital had policy that employees were on a mandatory 10 day quarantine with COVID symptoms even if they had a negative test). After the 2 weeks, employees were required to use up their vacation and personal time and then go without pay after that was exhausted. Pretty crappy way to treat a front-line worker.
I think this is a good bill and I expect good things to happen because of it. And I think that in 2022 the public will remember that it was all on Democrats.Interesting take. Democrats vote for a republican bill yet no republicans vote for a democartic bill and it is somehow all on the democrats?
General public only cares about getting $1400. I haven't read the Bill yet, but if the Republican's are correct that only 10% of the $1.9T is for emergency COVID relief, then my initial response is that it is not a good Bill. I'll reserve judgment until I see what's actually in the passed Bill.
22% of the bill is just in the stimulus checks. So the 10% is wrong unless you don't think the stimulus checks are for Covid relief.
There has been $5 trillion created completely out of thin air in the past year. Plus another $2 trillion or so coming soon for "infrastructure." Just think about those insane numbers...
Not really, but you could argue that anything qualifies as COVID emergency relief.
Wow. I couldn’t disagree more with this. I think that in 2022 the stimulus will be even more popular than it is now.Stoneworker said:
Lol. If there's never any negative future ramifications to creating money out of thin air and throwing it out of an airplane window...then if course it will always be wildly popular. That's a fantasy, however.
I don’t think your inflation scenario is going to happen because so much spending has shut down over the last year or so. Any new spending that comes out of this bill will only return things back to normal. A few economists share your fears, but most don’t.
I also don’t think that it’s a winning argument for conservatives to say “this is a bad idea but the public is too stupid and greedy to realize it.” I wouldn’t expect this sort of argument to win a whole bunch of votes.
I still haven't seen anyone explain where this only 9% is Covid Relief number comes from.Snotbubbles said:
Keep trying. "A few economists"...you mean like The Federal Reserve Bank of New York?
The public has no clue what's contained in the stimulus package. Just like most people in this forum.
It's in reference to the $160B directly related to vaccination rollout, etc. Stimulus checks are roughly 25%.
That's a crazy narrow definition and to me is obvious partisanship.
It’s still only slightly over what it was projected before. If economic growth rebounds as most expect it will nobody is really going to notice the increases.
I agree with the first part. What's controversial are things like the state/local bailouts, child tax credit, etc. Plus there's an entire roughly $200B allocated to "other policy changes" that's a black box.
Exactly. The checks are also due to covid. As is the money for school reopenings. As well as the aid to the states, and the extension of unemployment benefits, And the contact tracing, etc. etc
Look at commodities. Corn futures up 67% in past year. Wheat up 25%. Copper 2x. The entire Bloomberg Commidity Index up almost 50% in the past year.
Those are when looked at at least policy debates and in this political climate would be ridiculous to debate their merits piecemeal. The Dems gave a similar Relief bill to Trump. The Dems had many similar issues, how the loans were to be handed out blank check style comes to mind.
Seriously don't even want to here any complaining from any state who for years haven' paid their way.
The 10 year bond has been pricing this in as well. The Fed has shown no appetite to raise rates but the market is obviously starting to factor in inflation risk. It's not here yet in any meaningful way, but investors are obviously placing some money behind that possibility.
There's no doubt of that, at least in moderation. We've just had a remarkable run of time between now and the last time inflation was truly a problem. At least IMO, that's always arbitrary. Maybe 1980 and Jimmy Carter running for reelection? I'm not a young guy and that's the first election I can remember as a child.
Commodities were also largely oversold the last few years. Copper has supply/demand characteristics that make the rise organic. Could also point out that gold/silver have regressed.
It’s a total disaster for Republicans. I suppose they can hope that @Stoneworkerwill be right and it will lead to inflation but to think that’s going to change public opinion, even if it happens, seems like really a long shot.Dems passed the stimulus package.
Republicans in Congress talking about Mr Potato Head and Dr. Seuss
I assume they have ideas in place to deal with inflation later. We’ll see. Have heard this inflation talk for a long time, I guess we also haven’t injected cash into the system like this, but one issue at a time.
Not at all....I'm not sure exactly how it'll work. I suspect if they have your 2020 taxes, they'll use those. If they don't, they'll use your 2019 but I haven't seen that anywhere officially.
