Lump sum stimulus

[Copper]

Let's focus on the money sent to countries that hate us, like Egypt, Somalia, Pakistan.

The 600/2000 is there to provide cover for the foreign handouts.

[xenon]

@copper said in Lump sum stimulus:

Let's focus on the money sent to countries that hate us, like Egypt, Somalia, Pakistan.

The 600/2000 is there to provide cover for the foreign handouts.

Right, right. The money in the President’s own budget proposal. Let’s focus on that.

Also - why is Trump pushing for more cover handouts? (According to your explanation)

[Jolly]

If they cut the pork out, you could hand everybody $10,000 or more.

[xenon]

@jolly said in Lump sum stimulus:

If they cut the pork out, you could hand everybody $10,000 or more.

And that’d be good? (The - giving people $10k part)

Are you talking about the budget or the relief bill?

[Mik]

@axtremus said in Lump sum stimulus:

@mik said in Lump sum stimulus:

We have been using ours to help small businesses we want to see survive. I haven't had a pro haircut for almost a year, but I’m still paying my barber as if am. MFR did the same.

What money transfer method do you use for that? You tell the barber to charge your credit card over the phone? You to ACH banking transfer? You use some 3rd party transfer service like PayPal or Venmo or Apple Cash? You mail a check? You mail a prepaid debit card (that you then “top off” every time you figure another haircut is “due”)? You send a gift basket in lieu of cash? You drive by and drop off an envelope with cash?

What?

[Doctor Phibes]

@jolly said in Lump sum stimulus:

If they cut the pork out, you could hand everybody $10,000 or more.

Giving people who are gainfully employed $10,000 is a complete waste of money. They need to channel the money to people who actually need it.

Mik's idea to support the community is a good one, but I suspect most people who didn't need the money blew the cash on stuff they didn't need.

[Horace]

Probably just need good, socially conscious parents having kids and caring about them. Good luck legislating that, or handing it out.

[89th]

@jolly said in Lump sum stimulus:

If they cut the pork out, you could hand everybody $10,000 or more.

Yeah I did the math in another thread. It’s $15k per family earning less than 75k. 60 million homes = $900,000,000,000 (billion). Not that I’d do that.

Btw I’m still not sure how the commercial real estate and rental management industry hasn’t gone under. No one paying their rent for almost a year, tenants fleeing, it’s a house of cards ready to collapse. Ripple effect?

[Mik]

@doctor-phibes said in Lump sum stimulus:

@jolly said in Lump sum stimulus:

If they cut the pork out, you could hand everybody $10,000 or more.

Giving people who are gainfully employed $10,000 is a complete waste of money. They need to channel the money to people who actually need it.

Mik's idea to support the community is a good one, but I suspect most people who didn't need the money blew the cash on stuff they didn't need.

And that is the issue. We got it and did not need it by any meaningful measure. We both felt obliged to use it as it was intended. If we get more we will do the same. I hope others do as well.

I also think they need to up the charitable tax deduction for 2020 to more like $10K. $600 is a drop in the bucket.

[LuFins Dad]

@doctor-phibes said in Lump sum stimulus:

@jolly said in Lump sum stimulus:

If they cut the pork out, you could hand everybody $10,000 or more.

Giving people who are gainfully employed $10,000 is a complete waste of money. They need to channel the money to people who actually need it.

Mik's idea to support the community is a good one, but I suspect most people who didn't need the money blew the cash on stuff they didn't need.

I was going to put mine into Luke’s college fund, but Uncle Joe said not to worry, he’s on it. Then I was going to just put it back into US bonds but I realized that’s a horrible investment.

So, whatever they send to us will be used to buy Dominion Voting Machines...

[Axtremus]

@mik said in Lump sum stimulus:

@axtremus said in Lump sum stimulus:

@mik said in Lump sum stimulus:

We have been using ours to help small businesses we want to see survive. I haven't had a pro haircut for almost a year, but I’m still paying my barber as if am. MFR did the same.

What money transfer method do you use for that? You tell the barber to charge your credit card over the phone? You to ACH banking transfer? You use some 3rd party transfer service like PayPal or Venmo or Apple Cash? You mail a check? You mail a prepaid debit card (that you then “top off” every time you figure another haircut is “due”)? You send a gift basket in lieu of cash? You drive by and drop off an envelope with cash?

What?

What money transfer method do you use to pay your barber when you haven’t been getting any pro haircut?

[jon-nyc]

@mik said in Lump sum stimulus:

I haven't had a pro haircut for almost a year, but I’m still paying my barber as if am.

Interesting. I still pay my cleaning lady 140/wk. and she hasn’t come since early March. I even gave her her usual Xmas bonus of an extra 140.

But it never occurred to me to pay my barber.

[Axtremus]

@jon-nyc said in Lump sum stimulus:

I still pay my cleaning lady 140/wk. and she hasn’t come since early March. I even gave her her usual Xmas bonus of an extra 140.

Same question as I asked @Mik, what payment method do you use to pay for this sort of "in person" service when you do not actually get to meet this service provide in-person anymore?

[Aqua Letifer]

@axtremus said in Lump sum stimulus:

@jon-nyc said in Lump sum stimulus:

I still pay my cleaning lady 140/wk. and she hasn’t come since early March. I even gave her her usual Xmas bonus of an extra 140.

Same question as I asked @Mik, what payment method do you use to pay for this sort of "in person" service when you do not actually get to meet this service provide in-person anymore?

We use Venmo, Ax.

[jon-nyc]

@axtremus said in Lump sum stimulus:

@jon-nyc said in Lump sum stimulus:

I still pay my cleaning lady 140/wk. and she hasn’t come since early March. I even gave her her usual Xmas bonus of an extra 140.

Same question as I asked @Mik, what payment method do you use to pay for this sort of "in person" service when you do not actually get to meet this service provide in-person anymore?

I send her checks every month. I asked about Venmo but she didn’t have it.

I use Venmo weekly for my boy’s Spanish lesson. We just went remote with those.

[Axtremus]

On the other side of the question I asked @Mik and @jon-nyc, I also wonder how that income get classified by the recipients.

Getting paid for no service rendered pretty much means these are not "earned income." These are also not investment income. Not "royalty". Not winnings from gambling. Maybe they count as "gifts," so the recipients are not subjected to any tax on them. Anyone think the IRS will have a problem with the recipients classifying these as "gifts" and not pay tax on any of it?

[Mik]

Not if they don't know about it. I don't think the IRS is going to be spending a lot of time on these things.

[jon-nyc]

@axtremus

For sure this woman didn’t declare it before Covid or now.

[jon-nyc]

Trump signed the relief bill after all.

[jon-nyc]