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Wulaw Horn

So, am I getting another $3900 check? Should I?

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Looks like we might be getting ready for round 2 if the stimulus.  What say you Surly?

Will we have it?

 Should we have it?

How would you do it?

I think we will get another one. my guess is it gets done after some bitching and whining sometime next week  


should we have it?  I think you pretty much have to do something.  The helicopter money seems to make sense as I guess there’s no way inflation happens in my lifetime (I’m a man! I’m 42!) as everyone is scared of deflation (and boy- that shit sounds nasty if that ever came to be) and that money might be what kept blood from running through the streets earlier during the time of the protests.  Also- unemployment benefits got super generous (maybe too generous) compared to normal and That made things workable  

What would you like to see some?  I saw as part of the GOP proposal they wanted to give a $450 weekly bonus (not sure how long that lasts) to everyone that gets a job- I thought that was a good idea.  There’s value and dignity in work that goes beyond the money- so I think it’s good for people to work- if government incentives can help that along- cool.  Anecdotally I talked to the owner of a campsite on my trip and he says he can’t hire anyone because they are making too much to sit home.  
I saw like 5 now hiring signs up here in Maine, in a row, at grocery, fast food and somewhere else- and saw a guy putting Now hiring flyers on the cars- return to work bonus for shitty paying jobs on the frontline of what everyone needs open as essential businesses seems cool.

To that end a thank you from the government to heros might be cool- maybe nurses, fast food workers, grocery store guy, gas station guy, transportation guy that have been deemed essential and faced a lot of fear for low wages could get a thank you/hardship bonus and I wouldn’t be opposed  

also- we need $1 billion for tribal schools.  Just kidding- I have no idea if we need that but I saw the GOP had it in their bill and for the life of me I couldn’t figure out who that’s supposed to benefit politically- seriously that seems out of the blue- anyone got any idea what that’s about? 

 

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I am normally the mythic fiscal conservative.  If there was ever a time to "brrrrrrt" this is it.  Not a question in my mind.

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I can’t post anything here without sounding like a humblebrag including this.

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Posted (edited)
16 minutes ago, Wulaw Horn said:

 

What would you like to see some?  I saw as part of the GOP proposal they wanted to give a $450 weekly bonus (not sure how long that lasts) to everyone that gets a job- I thought that was a good idea.  There’s value and dignity in work that goes beyond the money- so I think it’s good for people to work- if government incentives can help that along- cool.  Anecdotally I talked to the owner of a campsite on my trip and he says he can’t hire anyone because they are making too much to sit home.  
 

 

 

 

then he's not paying enough.

 

Edited by High Plains Drifter

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I'll happily take my $3900. But first, how do I get my way into the "friends" club and get my millions?

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If I were getting that check it would 100% be transferred to candidates for Texas house, same as that other check would’ve done if I’d gotten it. 

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6 minutes ago, High Plains Drifter said:

 

then he's not paying enough.

 

I take your point, but when the government distorts the market and pays people to do nothing it’s a rigged game against the small business owner. That’s not a free market problem my man, that’s a government caused problem- which I think is what the $450 for getting a job does well- it incentivized some to go back to work in a positive way. You can’t just get rid of the enhanced unemployment- because there isn’t enough of these type of jobs to employ everyone- but you don’t want to make those jobs unable to be filled if that makes sense. 
And yes- I’m still a poor. This is year 3 in my new industry new job and I’m killing it, but I imagine that qualification will be what it was before so I will slide in just barely if they use 2019 and comfortably if they use 2018. 

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Do you think that you could give me that $3,900 in cash?
My concern is, and I have to, uh, check with my accountant, that this might bump me into a higher, uh, tax bracket

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Posted (edited)
4 minutes ago, Telegraph_it said:

How do you get $3900!?! 

Married couple with 3 kids. If Dems get their way (they won’t) it would be $6,000 (1200 per kid up to 3 kids max) 

Edited by Wulaw Horn

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7 minutes ago, NameAlreadyInUse said:

If I were getting that check it would 100% be transferred to candidates for Texas house, same as that other check would’ve done if I’d gotten it. 

That’s why they have an income limit- they want the money spent in the economy. 

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24 minutes ago, Nivek said:

Are you alright?

I’m fine. 

 

22 minutes ago, jimmyjazz said:

Did I miss something?

Looks like round two of the stimulus is upon us as many of the benefits expired 7/31

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I don't need the check, but like anyone, I'll take it, because there's no alternative.  What i found amazing the first time around was that a 17 YO HS senior didn't qualify.  What a bizarre cutoff.

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2 minutes ago, jimmyjazz said:

I don't need the check, but like anyone, I'll take it, because there's no alternative.  What i found amazing the first time around was that a 17 YO HS senior didn't qualify.  What a bizarre cutoff.

For the $1200 check?  Or the $500 check?  
seems like it ought to have been one of the 2. I’d have given them 1200 if they filed taxes, mom and dad $500 if they didn’t. 

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Posted (edited)

I'm down with it, but how many people are going to owe taxes next April vs getting a refund (or relatively breaking even).

Not trying to spur debate on withholding, people using a refund as a "savings account" of some kind, and whatnot. But people who are expecting a refund next April probably gonna be surprised.

Edited by Francisco 2.0

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They’ve been saying this for months and now it’s 7/31. Didn’t get a check last round, won’t get a check this round with either partisan plan. Makes zero sense to give a one time check to stimulate the economy with such a high unemployment rate. Those that need it the most will need to save it for expenses, not buy a new washer and dryer. The parameters are also fucked up. If you made $200K+ in 2019, but got furloughed/laid off due to COVID in 2020, you’re fucked.

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2 minutes ago, Francisco 2.0 said:

I'm down with it, but how many people are going to owe taxes next April vs getting a refund (or relatively breaking even).

 

Oh it’s going to be a blood bath next April. No doubt. But, if we see major deflation and a depression it will be worse. 
like with most things on this pandemic there aren’t any good answers. 

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Posted (edited)
45 minutes ago, Wulaw Horn said:

Looks like we might be getting ready for round 2 if the stimulus.  What say you Surly?

Will we have it?

 Should we have it?

How would you do it?

I think we will get another one. my guess is it gets done after some bitching and whining sometime next week  


should we have it?  I think you pretty much have to do something.  The helicopter money seems to make sense as I guess there’s no way inflation happens in my lifetime (I’m a man! I’m 42!) as everyone is scared of deflation (and boy- that shit sounds nasty if that ever came to be) and that money might be what kept blood from running through the streets earlier during the time of the protests.  Also- unemployment benefits got super generous (maybe too generous) compared to normal and That made things workable  

What would you like to see some?  I saw as part of the GOP proposal they wanted to give a $450 weekly bonus (not sure how long that lasts) to everyone that gets a job- I thought that was a good idea.  There’s value and dignity in work that goes beyond the money- so I think it’s good for people to work- if government incentives can help that along- cool.  Anecdotally I talked to the owner of a campsite on my trip and he says he can’t hire anyone because they are making too much to sit home.  
I saw like 5 now hiring signs up here in Maine, in a row, at grocery, fast food and somewhere else- and saw a guy putting Now hiring flyers on the cars- return to work bonus for shitty paying jobs on the frontline of what everyone needs open as essential businesses seems cool.

To that end a thank you from the government to heros might be cool- maybe nurses, fast food workers, grocery store guy, gas station guy, transportation guy that have been deemed essential and faced a lot of fear for low wages could get a thank you/hardship bonus and I wouldn’t be opposed  

also- we need $1 billion for tribal schools.  Just kidding- I have no idea if we need that but I saw the GOP had it in their bill and for the life of me I couldn’t figure out who that’s supposed to benefit politically- seriously that seems out of the blue- anyone got any idea what that’s about? 

 

Deleted

Edited by Dahobbs

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2 minutes ago, Spankytoes said:

They’ve been saying this for months and now it’s 7/31. Didn’t get a check last round, won’t get a check this round with either partisan plan. Makes zero sense to give a one time check to stimulate the economy with such a high unemployment rate. Those that need it the most will need to save it for expenses, not buy a new washer and dryer. The parameters are also fucked up. If you made $200K+ in 2019, but got furloughed/laid off due to COVID in 2020, you’re fucked.

From the stimulus yeah. But the enhanced unemployment benefits are more generous than anything else we’ve ever seen so that helps some. 

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14 minutes ago, Wulaw Horn said:

That’s why they have an income limit- they want the money spent in the economy. 

Are you claiming that elections aren’t part of the economy?

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2 minutes ago, Dahobbs said:

What is the point of giving money to people that have a job during the pandemic? If they have a job that still pays them, why should the government give them money? Isn't the whole point to pay people who don't have job? And, doesn't it make more sense to pay people not to work during a pandemic? Shouldn't we make it possible so that people don't have to choose between work and health? I'm just confused what goal you think the checks are supposed to accomplish. 

Same thing as anything I suppose- inject money into the economy and try to boost spending. 
lots of people are employed but making less money with less hours, no overtime but not getting any benefits. Suppose this helps them. 
I’m fine with whatever needs to happen to avoid deflation. 
I don’t  like the stimulus conceptually near as much as I liked the PPP. That was, at the time, the smartest thing government could have done, imo. 

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9 minutes ago, Wulaw Horn said:

For the $1200 check?  Or the $500 check?  
seems like it ought to have been one of the 2. I’d have given them 1200 if they filed taxes, mom and dad $500 if they didn’t. 

17 YO got nothing.

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3 minutes ago, NameAlreadyInUse said:

Are you claiming that elections aren’t part of the economy?

Not in an effective job creation sense I wouldn’t think. State house races more likely than presidential campaigns though. 
I don’t care if they want to give you a check though and I wouldn’t  care what you spent it on either. Just giving my guess as to the rationale. 

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Just now, jimmyjazz said:

17 YO got nothing.

That’s really weird. No idea why that would be. You have one?  You ever hear an explanation?  

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Posted (edited)
2 minutes ago, Wulaw Horn said:

That’s really weird. No idea why that would be. You have one?  You ever hear an explanation?  

It's in the stimulus definition.  Dependents 17 and older bring nothing to the parents if they are claimed as dependents, and they also don't qualify for their own stimulus check.  It's related to the child tax credit.

Yes, I have one.

Edited by jimmyjazz

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Just now, jimmyjazz said:

It's in the stimulus definition.  Dependents 17 and older bring nothing to the parents.

I mean you ever hear why they set it up that way? Seems nonsensical. 

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Just now, Wulaw Horn said:

I mean you ever hear why they set it up that way? Seems nonsensical. 

Man, the last thing I'm going to do is waste time trying to understand tax law.  All I know is my taxes have skyrocketed under Trump, so yeah.

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7 minutes ago, jimmyjazz said:

Man, the last thing I'm going to do is waste time trying to understand tax law.  All I know is my taxes have skyrocketed under Trump, so yeah.

How did that happen for you (Texas resident- right). You writing off (formerly anyway) 10’s of thousands on property taxes and mortgage interest? 

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1 hour ago, Wulaw Horn said:

  I saw as part of the GOP proposal they wanted to give a $450 weekly bonus (not sure how long that lasts) to everyone that gets a job- I thought that was a good idea.  There’s value and dignity in work that goes beyond the money- so I think it’s good for people to work- if government incentives can help that along- cool.  

Wait, what? Really? Thought that was one time. More than that, not sure how’d they pay that. So anyone who was on UI then still checks in on their state site for a weekly $450 bump? 

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Posted (edited)
2 minutes ago, achooloco said:

Wait, what? Really? Thought that was one time. More than that, not sure how’d they pay that. So anyone who was on UI then still checks in on their state site for a weekly $450 bump? 

Not sure. Just saw it was for people that got off the rolls and went back to work. I guess the thought is better to pay out $450 to get a job (plus their wages) than $600 to sit home. 

Edited by Wulaw Horn

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33 minutes ago, Spankytoes said:

The parameters are also fucked up. If you made $200K+ in 2019, but got furloughed/laid off due to COVID in 2020, you’re fucked.

right.  but if you made $200k in 2019, you should be fine with cash in summer 2020.  if your lifestyle prohibits you from being fine with cash, and you're leveraged to the eyeballs, then $1,200 probably wasn't moving the needle for you anyway.

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Posted (edited)
42 minutes ago, jimmyjazz said:

I don't need the check, but like anyone, I'll take it, because there's no alternative.  What i found amazing the first time around was that a 17 YO HS senior didn't qualify.  What a bizarre cutoff.

yeah, there was that 'hole' that 17-21 year olds fell into or whatever. i have two young people in my life that lost their jobs in restaurants that were impacted...and they didn't get $$ and neither did their parents. quite bizarre. (one was able to file for unemployment) 

hopefully they've corrected that this time?? i mean...17-21...that's a huge portion of your service industry right there, the industry impacted the most by this! 

anyway, i also would have endorsed the check and sent it direct to Biden, or maybe Hegar...but we didn't get anything the first time and don't expect anything this time. and that's fair. 😊 

 

ETA: i replied before i finished the thread, i see it was thoroughly covered already :) i do hope they fixed it this time!

Edited by mchookem

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17 minutes ago, Wulaw Horn said:

How did that happen for you (Texas resident- right). You writing off (formerly anyway) 10’s of thousands on property taxes and mortgage interest? 

Trump capped property tax deductions at $10K, which was a huge kick in the crotch, as I own a house in west-central Austin, and it isn't small.  There were a few other doozies that conspired against us.

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1 minute ago, jimmyjazz said:

Trump capped property tax deductions at $10K, which was a huge kick in the crotch, as I own a house in west-central Austin, and it isn't small.  There were a few other doozies that conspired against us.

Yeah but the standard deduction got doubled, so that should have been a wash unless you are talking massive amounts of money in house and maybe charitable stuff or something like that?  I’d like to see the math on it in Texas because it seems pretty hard to make work out down here- but maybe this is just a polite way of you telling me you have a million dollar plus house?  Feels like that’s about where they break point is, but I’ve never been curious enough to sit down with a calculator and figure it out in my own life. 

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6 minutes ago, henrygandorf said:

right.  but if you made $200k in 2019, you should be fine with cash in summer 2020.  if your lifestyle prohibits you from being fine with cash, and you're leveraged to the eyeballs, then $1,200 probably wasn't moving the needle for you anyway.

Sure, if you live in Texas. $200K in NYC/Long Island isn’t the same as $200K in Dallas. (Not trying time start a debate with this) The point is that it’s an arbitrary number and policy that doesn’t work across the board. There should be tiers based on geographic location and current circumstances. 2019 earnings don’t mean shit when you’re getting $600/wk. in unemployment through no fault of your own.

I’ve been continuously employed and the wife was unfurloughed at the beginning of July. (Only 4 people have been brought back out of 63 people on her team) So we’re not affected. Had she not been unfurloughed, however, her earnings in 2019 shouldn’t disqualify her from getting a check as the purpose is to stimulate the economy. We wouldn’t be buying luxuries if she was looking for a job in this climate. We’d be cutting back on expenses/spending.

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I'd rather not link my tax returns . . . it was a surprise.

And depending on where you live, you might be surprised where the $1M house cutoff is in the Austin area.

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38 minutes ago, jimmyjazz said:

Man, the last thing I'm going to do is waste time trying to understand tax law.  All I know is my taxes have skyrocketed under Trump, so yeah.

He capped SALT taxes to simplify the tax code. Shot our taxes up 3X the amount they were in 2018. No bonus/salary increase to offset this year. Asshole is still recovering.

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1 minute ago, jimmyjazz said:

I'd rather not link my tax returns . . . it was a surprise.

And depending on where you live, you might be surprised where the $1M house cutoff is in the Austin area.

Wasn’t asking you too- I get that. 
I guess on some level  I understand  that Austin housing is expensive, but I have a hard time wrapping my mind around it. 

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Just now, Wulaw Horn said:

Wasn’t asking you too- I get that. 
I guess on some level  I understand  that Austin housing is expensive, but I have a hard time wrapping my mind around it. 

Let me just say this:  I used to be at some magical optimal level where my Federal taxes were really low.  They have gone way up.  Some might say they are still low, although I don't feel that way.  I don't think they're necessarily oppressive, but it's still an eye-opener, and it has nothing to do with increased income (because my income has been flat for years, hey to working at a startup).

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Maybe cutting taxes during a time when the economy was strong, wasn’t a great idea, AGAIN  

the GOP has fucked this up forever.  You’ve had your shot at trickle down for 30 years, and left the economy in shambles.   Time to try trickle up.  Sorry top 5%, you tried and lost.   Time to put money in the consumers hands. 
 

Or we can just watch this entire house of cards collapse. 

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Posted (edited)
1 hour ago, Wulaw Horn said:

I mean you ever hear why they set it up that way? Seems nonsensical. 

I mean it should be fairly obvious why a 17 year old that is being claimed as a dependent isn't eligible for the $1,200. 

The non payment of the $500 is less clear. I assume because if you are 17 you are considered of working age and can supplement your family's income, but since you are a dependent you are still part of a family "unit" that may already be receiving $1,200 (or more).

Edited by ztejas

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2 hours ago, Wulaw Horn said:

Should we have it?

How would you do it?

Should? The US gave 7.7 trillion to the big boys of International Capital - glad they are considering given ordinary folk some gruel.

How? I agree with those - like Musk - who think this should be UBI, not another piecemeal check here and there. 2024 at the earliest to slow down the deflationary hurricane winds. Something regular and steady - like UBI - would speed the recovery. 

Will Congress do something like UBI - hell no. They don't work for ordinary folk. 

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If my family gets it, we'll do the same thing we did last time- donate it to organizations working to provide health care to undocumented farmworkers in our area.

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1 hour ago, ztejas said:

I mean it should be fairly obvious why a 17 year old that is being claimed as a dependent isn't eligible for the $1,200. 

The non payment of the $500 is less clear.

What makes a 17 year old different than a 16 year old who is being claimed as a dependent?  Both are still in HS full time.  It's an arbitrary cutoff that really makes no sense whatsoever.

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3 hours ago, TwiceHorn said:

I am normally the mythic fiscal conservative.  If there was ever a time to "brrrrrrt" this is it.  Not a question in my mind.

Yes, but what if we have been brrrrrting since last year? The economy has had a fluffer for the last fiscal year and a half when you consider the corporate socialism and free taxpayer monies doled out

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5 minutes ago, jimmyjazz said:

What makes a 17 year old different than a 16 year old who is being claimed as a dependent?  Both are still in HS full time.  It's an arbitrary cutoff that really makes no sense whatsoever.

I agree. Especially since the age to begin paying federal taxes on employment is 16 iirc. I'm sure it's just how the numbers shake out. There was probably enough "room" to tack on $500 for 16 year olds but not 17 year olds. 

At the end of the day it comes down to whatever they had to do to get it past the senate. Which in this case seems like a yes for 16 and under and a no for 17.

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