COVID-19 - 3/18 - Poll #4 - What will you do with your $1,200?

[Edward64]

To help alleviate some of the stress we are all going thru, thought it might be helpful to get us thinking about "happy" thoughts.

It's a given folks are going to get $1,000 or more from the government. Not sure if its per household, per working adult etc. but there will be a check.

So what are you going to do with it?

[Lathum]

I haven't responded yet.

will all Americans be eligible? I've heard only those making less than 85K would be.

[Edward64]

Originally Posted by Lathum

I haven't responded yet.

will all Americans be eligible? I've heard only those making less than 85K would be.

No clarification yet that I've seen.

Coronavirus: Trump official backs “sending checks to Americans immediately� to aid economy - Vox

We don’t know yet if Trump and Mnuchin’s plan will be similarly unrestricted, or even what size it will be. Mnuchin hinted that the checks could be bigger than $1,000 but did not clarify if every American adult, or every adult and child, or every adult and child below a certain income threshold, would get the benefit.

[Jas_lov]

I think it should only go to those who can't work and aren't getting paid. I'm able to work from home and still getting paid. If they give me the money that I don't need I'll probably just save it.

[Lathum]

I would dump 100% into local business. I plan on doing that regardless if I get the money or not.

[bob]

If they are going to do this, they just have to dump money to everyone. Otherwise you have to set up a system to see who "needs" it, and that could change weekly depending on how long things go. That's an unnecessary delay that will blunt the effectiveness of this program.

If we get out of this, increase taxes on the higher earnings on the back end. That's probably coming either way.

Edit: It won't surprise me if this is a 2 or 3 trillion dollar stimulus by the end of it. And even then you might need mortgage / rent and other deferrals (student loans).

[PilotMan]

Originally Posted by bob

If they are going to do this, they just have to dump money to everyone. Otherwise you have to set up a system to see who "needs" it, and that could change weekly depending on how long things go. That's an unnecessary delay that will blunt the effectiveness of this program.

If we get out of this, increase taxes on the higher earnings on the back end. That's probably coming either way.

Edit: It won't surprise me if this is a 2 or 3 trillion dollar stimulus by the end of it.

All I can think about is how people were killing Obama over 1.6 and 1 trillion dollar deficits in 2009 and 2010. How he single handedly bankrupted the country. Now we've been running trillion dollar deficits in good times, and looking at what will likely be at least a 3 trillion dollar deficit this year alone a little over 10 years later, and not a single peep about how it.

[Butter]

A mortgage deferral would essentially be the same thing for me. Whatever I get, if anything, I would pay off debt. Probably not what they're looking for.

In 2008 or whenever that was, it was income dependent, based on the previous tax year I believe. If they want to get checks out NOW, they probably can't do any sort of income verification. It will delay it by a good month.

[molson]

A lot of takeout food. It helps people, preserves our pantry levels, and eases strain on the grocery stores.

[bob]

Sure, that might be the case for 20% of people, but they likely don't have the time to worry about it. They are worrying about everyone else.

Agreed on what was said before on deficits, but regardless of past opinion, this is certainly a unique circumstance.

[Edward64]

Originally Posted by Lathum

I would dump 100% into local business. I plan on doing that regardless if I get the money or not.

Local business as in restaurants or local hardware store?

[Thomkal]

All businesses will suffer and are already suffering because of the virus. Giving us the opportunity once this has passed to give them a boost by buying something seems like a good idea to me.

[Lathum]

Originally Posted by Edward64

Local business as in restaurants or local hardware store?

Restaurants for sure. Flower shops. There is a local hardware store I frequent. Family owned pharmacy. Art galleries, etc...

I own some commercial real estate. One of our tenants is a CVS, not worried about them. Above them is a small art gallery that contributes greatly to the culture of the town. We have already told them not to worry about the rent.

The bottom line is we need to make sure these businesses can reopen when the time comes.

[Radii]

Give it away. A close friend of mine here has a family of 4 that they struggle mightily to feed already, one is already out of work due to their business closing indefinitely, the other works non-essential retail and is probably out of a job soon too. They were receiving extra food assistance through the elementary school the kids are at. They can go to the food bank regularly to get some stuff, but its not even close to enough and the school was proving a fair bit more through some program of theirs. So with school closing not only is that an extra meal a day to provide at home, its for now the loss of that extra assistance they were receiving.

Life fucking sucks man, its so easy to be isolated from everything with what I make and my own career, seeing all this has made me a much, much more giving person.

Uh, soapbox over. Yeah, giving it to someone who needs it since I don't.

[Poli]

Originally Posted by Lathum

I would dump 100% into local business. I plan on doing that regardless if I get the money or not.

This. This I like a lot.

[Kodos]

Either donate it to my wife's cousin (out of work waitress with physical disability) or a local business. We don't need it.

[Brian Swartz]

It goes straight into my savings for me. Since that's currently somewhat limited, it'll extend the period of time that I can keep from being a financial burden on others.

[NobodyHere]

Either one $1000 hooker or a thousand $1 hookers.

Support the local economy.

[spleen1015]

Originally Posted by NobodyHere

Either one $1000 hooker or a thousand $1 hookers.

Support the local economy.

This is what I am thinking.

The world is ending. Hookers and blow baby!

[stevew]

I’d use it to start 999 more Covid threads. And if I did that then I’d ask for 1000 more wishes.

[GrantDawg]

Originally Posted by Jas_lov

I think it should only go to those who can't work and aren't getting paid. I'm able to work from home and still getting paid. If they give me the money that I don't need I'll probably just save it.

Banks could use it. Even savings helps free up money for loans in the local economy. I have no problem if it is to everyone, but if they are going to draw a line, it should be a very high line. like 150K a year+. Don't make it some kind of bureaucratic nightmare.

[Racer]

Originally Posted by Jas_lov

I think it should only go to those who can't work and aren't getting paid. I'm able to work from home and still getting paid. If they give me the money that I don't need I'll probably just save it.

Same.

[Galaril]

Sounds like only those under 85k will get it.

[Edward64]

Maybe should be in Random thoughts thread but what the heck ...

Amazon, Costco, Walmart etc. websites should just have "show only in-stock" to save people a lot of time.

[Edward64]

Originally Posted by Galaril

Sounds like only those under 85k will get it.

Is it per household or individual?

[Vegas Vic]

I suggest that it be used to pay off the HOA fines that are about to occur.

People are being encouraged to put up Christmas lights to spread cheer while they're social distancing

[BYU 14]

I don't think we will qualify, but if we do I will likely look for someone/somewhere to donate it too as at this point neither mine or my wife's job will be impacted.

[Young Drachma]

Democrats ensured that it's means-tested so not everyone will get one. Thanks Dems.

[Kodos]

Good to hear.

[bob]

Means testing using 2018 data seems like a poor decision. Plenty of people will have had major shifts since then.

[Lathum]

Originally Posted by Edward64

Maybe should be in Random thoughts thread but what the heck ...

Amazon, Costco, Walmart etc. websites should just have "show only in-stock" to save people a lot of time.

They don't want that. Most of them have an alert option for when it is back in stock.

[Lathum]

Originally Posted by Galaril

Sounds like only those under 85k will get it.

boo

[NobodyHere]

Originally Posted by Lathum

boo

yay!

[Lathum]

Originally Posted by NobodyHere

yay!

yay for you or yay because you don't think people who make over 85K are deserving?

[Young Drachma]

Oren Cass on Twitter: "Don't means-test cash payments upfront. Treat them as separate income category and apply steep tax rate based on AGI (2x the filer's top/marginal rate on reg income?). This will claw payments back after the fact, but only for those who actually earn lots of income _this_ year."

[Danny]

I think this should ideally only go to those who really need it. The trouble is using some arbitrary determining factor for that. Are they using 2019 incomes?

The person who made 70k but has continued work is a lot less affected than the person who made 90k but now is suddenly out of work etc...

As for the question, I'd use it to support local community on some way, ideally both the one I work on and the one I live in.

[Edward64]

Originally Posted by Danny

I think this should ideally only go to those who really need it. The trouble is using some arbitrary determining factor for that. Are they using 2019 incomes?

The person who made 70k but has continued work is a lot less affected than the person who made 90k but now is suddenly out of work etc...

As for the question, I'd use it to support local community on some way, ideally both the one I work on and the one I live in.

I am starting to agree it'll be too messy and take too much time for at least the first check. Send it out to pretty much everyone and figure out a better way with the second check.

[Danny]

Originally Posted by Edward64

I am starting to agree it'll be too messy and take too much time for at least the first check. Send it out to pretty much everyone and figure out a better way with the second check.

Also cost of living factors. 80k for someone living in SF or NYC is very different from someone making 80k most other places.

[bob]

Another problem is being employed right now != being employed in a week, 2 weeks, 3 months, etc. So unless this is a one time thing or they have a method for applying for support later, they are better sending to everyone and trying to figure it out later. Deficit is going to be super fucked no matter what.

[Qwikshot]

I expect all citizens to be compensated, we're all being affected.

If not, one more reason to purge Reps from the system, especially when they bail out all the corporations who then pocket it and fire/cut their work forces.

[bob]

Pretty sure its the Dems that want the means testing. Unless you mean Reps = Representatives, not Republicans.

[Lathum]

Originally Posted by Danny

Also cost of living factors. 80k for someone living in SF or NYC is very different from someone making 80k most other places.

I also think high earners are likely to pump that money back into the local economy as opposed to using it to pay bills, etc...

[HerRealName]

Does anyone have any idea how young adults would be treated? It wouldn't be cool if we get means tested out of a check while our older kids also were excluded. We're having to pay unexpected living costs for them due to dorm closures, dining hall closures, etc.

[Edward64]

Here's what Trump wants.

I'm ambivalent honestly. I'm okay if I don't get a check but if I do get a check, I am going to spend it and buy stuff.

https://www.cnbc.com/2020/03/19/coro...-for-kids.html

Treasury Secretary Steven Mnuchin on Thursday laid out details of the Trump administration’s plan to send Americans relief money as part of a massive stimulus package to blunt the impact of the novel coronavirus crisis.

Mnuchin said in a Fox Business Network interview that the plan, which is being discussed with congressional leaders of both parties, would send payments directly to Americans totaling $500 billion.

That money would be divided into two large tranches.

“The first one would be $1,000 per person, $500 per child,” Mnuchin said. “So for a family of four, that’s a $3,000 payment.”

“As soon as Congress passes this, we get this out in three weeks. And then, six weeks later, if the president still has a national emergency, we’ll deliver another $3,000,” Mnuchin said.

[NobodyHere]

Originally Posted by HerRealName

Does anyone have any idea how young adults would be treated? It wouldn't be cool if we get means tested out of a check while our older kids also were excluded. We're having to pay unexpected living costs for them due to dorm closures, dining hall closures, etc.

Looks like you'll be charging for room and board.

[HerRealName]

Originally Posted by NobodyHere

Looks like you'll be charging for room and board.

Good idea. Gotta get that money for the hooker/hookers somehow.

[Edward64]

Originally Posted by HerRealName

Good idea. Gotta get that money for the hooker/hookers somehow.

I doubt they are working much nowadays, and for those that are you better be wearing your mask and spray down with lysol before and after!

[JPhillips]

From Providence, RI:

Mayor Elorza: Lap dances ‘irresponsible’ amid coronavirus outbreak

[Edward64]

Well darn, a little disappointed that I may not get a check to spend on a "want". But I'm okay with the below option. No plan is going to be perfect, just get something out there to help stabilize the situation.

Democrats balk at $1,200 rebate checks in stimulus plan | TheHill

Senate Democratic Leader Charles Schumer (N.Y.) on Friday said Congress should pass a massive expansion of unemployment benefits instead of simply doling out checks to individuals and families, regardless of whether they miss work because of health quarantines.

“There are many, many who have lost their jobs and one check when they may be out of their jobs for three, four, five months isn’t going to be enough. Unemployment insurance gives money the whole period of time the crisis exists at your present salary level and covers just about everyone,” Schumer said.

Sen. Debbie Stabenow (D-Mich.), who participated in an initial round of talks with Senate Republican chairmen on Friday morning, argued that direct payments will not be as effective as expanded unemployment benefits.

“In the Republican package there was nothing on unemployment insurance,” Stabenow said. “We are not in any way seeing yet the focus enough on workers, on the workforce, on people getting hit the hardest.”

She also faulted the GOP plan for not providing a “robust” expansion of health care resources and instead characterized many of the 43 health-related provisions in the Republican bill as “stop-gap.”

Stabenow characterized the negotiations on expanding unemployment benefits as robust and said the question is “how to most effectively do this.”

[PilotMan]

You know, honestly, I'm really glad that I'm not a person who has to sit and make those decisions on how this whole thing is going to be designed and implemented. What a major PITA!