C-19 relief bill: people earning $300,000 don't need the $1400 check

[mysteryowl]

That is a shocking number, $300,000 and under for annual income in order to receive a stimulus check.

The $600.00 check had a $75,000 annual income cut off.

What do you think is a good income limit for the checks?

[Drahthaardogs]

1. There is none

If you make $150,000 a year as a couple in Iowa you’re doing great. In San Francisco - you are in trouble

[magicarpet]

2. $75k to $100k tops.

[mysteryowl]

4. The republicans are saying $40,000 - $50,000

[Walleye]

3. Don't understand why we would want to get stingy at this point

Get as much money as possible to as many people as possible. We need to stand this economy back up on its feet.Plus it was definitely a strong campaign promise. We can’t start hacking away at it now

[Xipe Totec]

5. It kinda doesn't really matter; 10% of earners are above 200k

So even if you cut them all off, you only save 10% of the money, you add complicated tests, and they don't really make a difference one way or the other.

[Walleye]

6. A very good point

[dawg day]

7. I thought Biden was going for $75k person?

Has that changed?

I haven't gotten either of the earlier checks because the IRS still hasn't accepted my last two tax returns. (Nothing wrong with them-- they keep saying they didn't receive them and I keep sending a new copy... nothing has worked yet. Covid backup, I suppose-- I had to file a print return for some obscure reason, and maybe the truck carrying the first three copies burned down or something.)

Since I can't prove my "adjusted gross income" yet, I'm out of luck. Maybe once the tax return goes through, I'll get a big check.

[mysteryowl]

8. Yes, Prez. Biden's is $300,000

[dawg day]

9. That's a good bargaining chip, then.

"Oh, all right." Heavy sigh. "I'll give on the $300K. You give on the minimum wage increase."

We can hope!

[mysteryowl]

11. That is what I was thinking since it is such a high cut-off.

[Celerity]

10. 100K usd tops. I do not need a cheque (and if it was a 300K usd cut-off I would get one, based

off 2019 income.) If I get a 1400 USD cheque it is going to our four at-risk Senators in 2022 (Kelly, Warnock, Hassan, and Cotez Masto, plus Jeff Jackson in NC and whoever wins the PA open seat Dem primary.

[dsc]

12. No one earning 300k would be getting 1400 under Biden

BTW the 600 didn't have a 75k cut off. Both of the checks had a gradual reduction starting at 75k for singles and 150k for couples. In both cases, the reduction was 5%. So if you had 80k then you lost 250 of the 600 (5% of 5000). At that rate you lost the entire 600 at 87k. Now since this check is supposed to be 1400 it takes longer for the check to decrease and thus the cut off rises. For singles, it is now at 103 thousand and for couples it is now at 206,000. Once you add kids that is how you are getting closer to that 300k but still you aren't getting anything like a full check at that point.

[handmade34]

13. no easy answer

there is income and then there is wealth and there are other factors

there are people making $30k a year that haven't been harmed by Covid, there are people that had an income of $200k but were harmed tremendously by Covid... is it based on 2019 income? or some other consideration?

no matter what is done, people that are really suffering are not going to be helped as much as needed by a $1400 check

no easy answer and so we get the money out to help the economy and a tiny bit of relief for individuals.... there are better ways but this is what we have

[JT45242]

14. Complicated but fair solution is living wage calculator

Could make it adjust to local expenses by using living wage modifier calculator.

150K in Iowa and 150k in new york city, san Francisco, seattle are not the same in terms of life security.

I would say use the 90th percentile income. If you think that below that is middle class.

It amazes me that 100k is approximately 80th percentile for family income but the huge jump to the next tenth percentile.

[Cracklin Charlie]

15. No limit.

The point is to spread the money across the economy. Giving cash to everyone accomplishes that goal.

The money needs to be spent or donated, wherever one chooses to spend it. Not just grocery stores, or landlords, but at retailers of high end goods as well as discount big box stores. Hire a landscaper, carpenter, or electrician...all this money goes directly into the economy that way.

It’s our civic duty.