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The Covid Relief Bill (1 Viewer)

parasaurolophus said:
I dont see an issue there. They are allowed to enact tax cuts still. They just cant use the covid funds they get from this bill to pay for them.
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Cash is fungible.  How to prove one way or the other that the money being used is "that stash of funds"?  

 
Personally, I’m okay with the bill passing, since there are still lots of people in dire straits(no, not the band), and even though I’ve been fortunate enough to keep working through this pandemic, I’ve been socking this money away in savings to help pay for unexpected expenses, like if my car decides to finally go the way of the dodo, I can put that money towards a new(used) vehicle.

 
Cowboysfan8 said:
I notice sho “laughed” at your post

But when someone he disagrees with politically posts about another poster he whines to them to post about the topic instead 

interesting
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I laughed because it was funny.  
But thanks for yet again commenting about me too.  Really good stuff.

Its almost as if I react different when someone streams off topic to get personal towards me in a conversation I am in vs when other people are discussing things.

 
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KarmaPolice said:
The follow up question is did they both get counted?  

I have 0 doubt that multiples get mailed out.   We are talking about government and human error here.    But when we are talking about the small % of time that multiples got mailed, compounded with the small % of the time that when there were multiples mailed out those multiples all got sent back, and then add on the small % of time when they were mailed back somebody didn't catch the mulitples and they counted.       Do you really believe this has noticeable effect on a national election?
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never said it had anything to do with anything other than she got 3 ballots & sent in two.   single, unemployed, 2 children & voted for Biden.

it is what it is.

I have no idea whether they counted 2 votes or not.

 
shadrap said:
never said it had anything to do with anything other than she got 3 ballots & sent in two.   single, unemployed, 2 children & voted for Biden.

it is what it is.

I have no idea whether they counted 2 votes or not.
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and I personally don't care.  Biden is our president.

it is what it is.

 
NorvilleBarnes said:
Covid relief bill eliminates New York deficit. LINK
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McMahon said the federal aid is so large that

“There’s no need now for a tax increase in New York,” said EJ McMahon of the Empire Center for Public Policy.

He said the income tax on the wealthy proposed by Cuomo as part of his executive budget plan is “no longer necessary.” It it’s enough to avoid tax hikes for the next two fiscal years.

Shumer took care of his own.  No wonder there is so much distrust in our government. "Meet the new boss...same as the old boss"  "We won`t get fooled again"

 
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Da Guru said:
McMahon said the federal aid is so large that

“There’s no need now for a tax increase in New York,” said EJ McMahon of the Empire Center for Public Policy.

He said the income tax on the wealthy proposed by Cuomo as part of his executive budget plan is “no longer necessary.” It it’s enough to avoid tax hikes for the next two fiscal years.

No wonder there is so much distrust in our government. "Meet the new boss...same as the old boss"  "We won`t get fooled again"
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It’s cute that the Dems like to pretend that they’re so different 

 
Cowboysfan8 said:
Didnt Biden and the Dems run on plans to tax the rich?

Did the federal govt just bail out NY and prevent a tax on the rich from being necessary?
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Dems have been running om taxing the rich for decades. The stimulus puts NY back in the same position as a year ago before covid so not sure why anything would change. It's not as if they only want to tax the rich to make up for pandemic related reasons. 

 
dawgtrails said:
Dems have been running om taxing the rich for decades. The stimulus puts NY back in the same position as a year ago before covid so not sure why anything would change. It's not as if they only want to tax the rich to make up for pandemic related reasons. 
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Didn’t cuomo basically say “ unless the fed govt bails my state out I’m gonna tax the rich to make up for it?”

They always promise to tax the rich, then bail them out

Everyone blames the Rs for not taxing the rich, but you said yourself that they’ve (the Dems) have been running on it for decades but never actually do it

This is why it’s cute that the Dems pretend to be different from the Rs

🤷🏻‍♂️

 
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The bill provides several billion to my state, Illinois ..a state that is incredibly mismanaged by the primarily Democratic leadership.  But as the Chicago Tribune pointed out this morning, the state cannot use the funds to bail out the woefully underfunded pension funds.  The money will help to pay back federal borrowing that has occurred over the past year and will let the state put a dent in the ongoing, billions-of-dollars lag in paying vendors.  Chicago will get about $2 billion of the funds for Illinois cities, based on the formulas.  Not sure how it will be used, but again, it generally fills significant budget holes caused by the drop in conventions, tourism, shopping, etc.

All in all, I'd say it's a good thing for Illinois and Chicago (and others). 

 
Mile High said:
Since New York has historically paid in more then then get back from the federal government it's 

probably fair. Now they can go back to paying for those red states that historically mooch of the federal government sooner. 
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This is actually a good point. Go away.

 
The General said:
Isn’t getting the economy going part of relief from COVID? If I had mortgage issues due to loss of job I’d like relief from that, reopening schools is important, etc.

What was in Trump’s 2 trillion bill that passed unanimously?
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No.  The House passed Trump's $2T stimulus 415-2.  The Senate 96-1.

I found out where the 9% came from.  It's 9% of the Bill is for COVID healthcare with 1% for vaccines. 

Job loss due to COVID?  The unemployment insurance has relief added into it to pay above and beyond the normal rate.  So the first stimulus you got an additional $600 per week for unemployment over what you would normally get.  I make good money and I would have been better off being unemployed.  

Reopening schools is important, however 2/3s of the funds earmarked for school reopening won't be used until 2022 and 2023.  The funds aren't a get schools open ASAP money.  This is supposed to be an emergency Bill.  It's not that.  There is still previous stimulus funds that haven't been used.  

From Rep. McCarthy on some of the things in this stimulus:

$21K per Federal employees ($70K income limit) to stay home

$25K bonus for State government workers

$50M for Planned Parenthood

$200M for Museum and Library services

$270M Endowment for Arts/Humanities

$600M for San Francisco

$1.5B for Amtrak

$12B in Foreign Aid

$15B for illegal immigrant healthcare

$111B for welfare without work requirements

$350B to bail out Blue States

Sen. Cruz also said there is a $15B Agricultural provision in the Bill that allows farmers with loans to have the loans repaid at 120% of the loan.  There isn't any income requirements attached to the loan repayment so even multi-millionaire farmers can get the loan forgiveness.  There is only one limitation on the forgiveness...the person applying for forgiveness must be a minority.  So a millionaire minority farmer can have his loans forgiven, but a poor white farmer is SOL.

The above is 25% of the total Bill.  Just call it what it is, a Democratic wish list to be paid back by future generations.

 
timschochet said:
Lol Mitch McConnell. Talking to reporters today he said “there’s going to be an economic boom coming. And when it comes, it will have absolutely nothing to do with this 1.9 trillion.” 

He knows what’s going to happen, and he knows exactly how the public is going to respond to it. And he hopes to stop them. But he won’t. 
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The economic boom will come when the economy is reopened.  10% of the population has already been vaccinated, the new stimulus isn't going to be much of a factor in getting the other 90% vaccinated.  Only 1% of the current stimulus is directed at vaccines.  What will the new stimulus do?  Speed things up by a month, if that?  Everybody knows the economy reopening at 100% will create a boom.  The stimulus is $700B-900B in actual good money spent and $1T in garbage flushed down the toilet. 

 
Snotbubbles said:
No.  The House passed Trump's $2T stimulus 415-2.  The Senate 96-1.

I found out where the 9% came from.  It's 9% of the Bill is for COVID healthcare with 1% for vaccines. 

Job loss due to COVID?  The unemployment insurance has relief added into it to pay above and beyond the normal rate.  So the first stimulus you got an additional $600 per week for unemployment over what you would normally get.  I make good money and I would have been better off being unemployed.  

Reopening schools is important, however 2/3s of the funds earmarked for school reopening won't be used until 2022 and 2023.  The funds aren't a get schools open ASAP money.  This is supposed to be an emergency Bill.  It's not that.  There is still previous stimulus funds that haven't been used.  

From Rep. McCarthy on some of the things in this stimulus:

$21K per Federal employees ($70K income limit) to stay home

$25K bonus for State government workers

$50M for Planned Parenthood

$200M for Museum and Library services

$270M Endowment for Arts/Humanities

$600M for San Francisco

$1.5B for Amtrak

$12B in Foreign Aid

$15B for illegal immigrant healthcare

$111B for welfare without work requirements

$350B to bail out Blue States

Sen. Cruz also said there is a $15B Agricultural provision in the Bill that allows farmers with loans to have the loans repaid at 120% of the loan.  There isn't any income requirements attached to the loan repayment so even multi-millionaire farmers can get the loan forgiveness.  There is only one limitation on the forgiveness...the person applying for forgiveness must be a minority.  So a millionaire minority farmer can have his loans forgiven, but a poor white farmer is SOL.

The above is 25% of the total Bill.  Just call it what it is, a Democratic wish list to be paid back by future generations.
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Yes Trumps bill had like 5 people say no  :lol:

What was in T rump’s 2 trillion that was “wasteful”.

This is what they do.

 
Snotbubbles said:
I make good money and I would have been better off being unemployed. 
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I was furloughed and had to file for unemployment in MD.  I took home $4000/month during my furlough, including the $600/wk from the feds, and I was grateful to get it.

But an annual salary of $48k/year before taxes is not "good money" these days. 

 
The Z Machine said:
I was furloughed and had to file for unemployment in MD.  I took home $4000/month during my furlough, including the $600/wk from the feds, and I was grateful to get it.

But an annual salary of $48k/year before taxes is not "good money" these days. 
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In PA, I would have made $2100/mnth on normal unemployment plus another $2400 for the Fed addition.  My take home after taxes on a salary over $75K is much less than that.  Nearly 50% of all Americans make less than $75K.  

 
The General said:
Yes Trumps bill had like 5 people say no  :lol:

What was in T rump’s 2 trillion that was “wasteful”.

This is what they do.
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Totally different situation.  Trump's Bill was negotiated in a bi-partisan way.  He couldn't just ram through whatever he wanted, he had to get the Democrats to go along with him since they controlled the House.  This Bill was not negotiated in a bi-partisan way and the Dems just put whatever they wanted in there.  Just curious, do you understand how the political climate is different from March 2020 to March 2021 or are you just being obtuse?

 
Snotbubbles said:
In PA, I would have made $2100/mnth on normal unemployment plus another $2400 for the Fed addition.  My take home after taxes on a salary over $75K is much less than that.  Nearly 50% of all Americans make less than $75K.  
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The 2400 fed addition ran out July 31

 
Snotbubbles said:
Totally different situation.  Trump's Bill was negotiated in a bi-partisan way.  He couldn't just ram through whatever he wanted, he had to get the Democrats to go along with him since they controlled the House.  This Bill was not negotiated in a bi-partisan way and the Dems just put whatever they wanted in there.  Just curious, do you understand how the political climate is different from March 2020 to March 2021 or are you just being obtuse?
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Biden asked for the Republican proposals and they wanted it to be a third the size, he’s been down this road before wanted to go big and said thanks we are moving forward.

The first bill had no fluff in it?

 
Snotbubbles said:
Totally different situation.  Trump's Bill was negotiated in a bi-partisan way.  He couldn't just ram through whatever he wanted, he had to get the Democrats to go along with him since they controlled the House.  This Bill was not negotiated in a bi-partisan way and the Dems just put whatever they wanted in there.  Just curious, do you understand how the political climate is different from March 2020 to March 2021 or are you just being obtuse?
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There are republicans taking credit that their additions were added to the bill even though they voted against it. 

https://twitter.com/IndpRestaurants/status/1369748465417355275?s=20

 
Snotbubbles said:
Totally different situation.  Trump's Bill was negotiated in a bi-partisan way.  He couldn't just ram through whatever he wanted, he had to get the Democrats to go along with him since they controlled the House.  This Bill was not negotiated in a bi-partisan way and the Dems just put whatever they wanted in there.  Just curious, do you understand how the political climate is different from March 2020 to March 2021 or are you just being obtuse?
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Are you talking about his tax bill?  It got not a single Democrat's yes vote :confused:

 
Snotbubbles said:
In PA, I would have made $2100/mnth on normal unemployment plus another $2400 for the Fed addition.  My take home after taxes on a salary over $75K is much less than that.  Nearly 50% of all Americans make less than $75K.  
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You're comparing apples to oranges: 1) You have to pay federal and state income taxes on unemployment benefits.  2)  I assume that out of your gross salary, you pay for health insurance, 401k, etc.  Unemployment has none of those taken out.  3) In many locations $75k/year gross is still not "good money".  Personally, I would classify "good money" as top quartile income for a given geographic area.

 
The Z Machine said:
You're comparing apples to oranges: 1) You have to pay federal and state income taxes on unemployment benefits.  2)  I assume that out of your gross salary, you pay for health insurance, 401k, etc.  Unemployment has none of those taken out.  3) In many locations $75k/year gross is still not "good money".  Personally, I would classify "good money" as top quartile income for a given geographic area.
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I heard today that the extra unemployment last year ($600/week) wasn't going to be taxed, just what you got from the state.  

 
FairWarning said:
I heard today that the extra unemployment last year ($600/week) wasn't going to be taxed, just what you got from the state.  
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That's not how it rolled up in the tax software I used.  It was a direct addition to AGI, just like a W-2.  I might try it again in another tax software to see if it does the same.

 
The Z Machine said:
That's not how it rolled up in the tax software I used.  It was a direct addition to AGI, just like a W-2.  I might try it again in another tax software to see if it does the same.
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The person who told me had used an accountant, then had to file an amended return.  Tax stuff is above me..

 
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