The stim package has passed and us mere mortals will be getting some sort of check in an attempt to sooth the savage beast……if so then how much will I get is the most asked question?
Let’s go to the info…..
The Senate on Wednesday passed the biggest economic relief bill in US history—the AP gives a sense of scope by noting the $2.2 trillion price tag is equivalent to half the size of the entire $4 trillion-plus annual federal budget. Assuming the House passes it as expected on Friday, how much will end up in your pocket? The Washington Post has created a coronavirus stimulus check calculator where you can see for yourself (use it here), but in general, here’s how it will work:
- The checks are expected to go out in April, and in most cases they won’t be checks. If you qualify for a check, the government will see if it has your direct deposit info on file from the filing of your 2018 or 2019 taxes. If it does, you’ll receive your payment that way.
- If you earn no more than $75,000 a year you’ll qualify for the full $1,200. Married couples can get $2,400 so long as their adjusted gross income doesn’t exceed $150,000 a year.
- Reduced checks will go to individuals making up to $99,000, with the total amount reduced by $5 for every $100 over $75,000. Married couples who make up to $198,000 will also get reduced checks.
- Adults will also receive $500 per child under age 17. Forbes reports there is no limit on the number of kids, so the same thing applies whether you have one kid or six.
- Based on these parameters, not every American will receive a check, but most will—about 83% of tax filers, per one estimate cited by the Post.
- Your income level will be determined based on your 2019 taxes, or your 2018 taxes if you haven’t filed them yet. The checks won’t be taxed.
- Another note on timeline: The Post notes that while Treasury Secretary Steven Mnuchin wants the first batch of checks to go out the week of April 6, “the last time the US government did anything like this, in 2008 … it took about eight weeks for the final people to receive their checks.”
- CNN echoes that, with Howard Gleckman with the Tax Policy Center saying, “It is more realistic to expect them in a month or two
Does that answer your question?
This should be helpful for some….but I feel that it will fall short in most cases for the people that are suffering economically.
On the other side of this disaster…..after all it is an election and the president needs the economy to rebound, which it is doing thanks to the free cash for corporations…..and he needs some popular support and apparently his free money to the peons has had its upside…
Despite a series of setbacks and snafus, a stunning new poll finds that 60 percent of Americans approve of President Donald Trump’s response to the coronavirus pandemic.
A Gallup poll released this week — and conducted during the week ending this past Sunday — shows nearly two-thirds of Americans approving of Trump’s handling of the crisis, buoyed by high marks from Republicans (94 percent) and independents (60 percent), with even just over a quarter of Democrats (27 percent) in favor as well.
Apparently we Americans can be bought.
My thought is if we could ask the 1000+ people dead would they agree and approve of Trump’s virus response?
I know I am a cynic….but I have been watching this scenario played out numerous times and little has changed and the people still have not learned that they are only an after thought most of the time.
I Read, I Write, You Know
“lego ergo scribo”