What?
I’m saying give it to Bezos and tax it from him on April 15.
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Ok forget UBI.
Why is the April stimulus not going to couples making over $200k a bad thing?
Do we also not understand how marginal tax brackets work now? Like everything is through the looking glass when it comes to UBI/stimulus? You’re still giving him $650 or whatever. Probably more because all his income is long term capital gains.
Rich people’s taxes pay for plenty of benefits like food stamps, public school, and welfare - that they don’t personally receive. You don’t have to give them a stimulus or UBI just to tax them for it.
To get the UE as self-employed I had to meet a bunch of requirements like no quarters < x, smallest quarter must be >= k% of the largest quarter of the past z quarters, no quarter can account for greater than y% of the total amount of income claimed in past z quarters. The rules read like what a person with a steady hourly-wage job’s income looks like. I filled it out under several interpretations that I could still legally justify and it borked me every time. So now I’ll just be poorer from dipping into my savings for an entire year while rich assholes get even richer.
I will repeat. Give it to everybody. Claw it back from those that make too much with a linear phaseout.
Give 5,000^
If earn 50k^ keep it all
If earn 150k^ take it all back on 2020 taxes.
Scale between there. So if 100k^ keep half.
^example numbers pick whatever you think is the correct phase out starting and end points.
Simple.
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For one how do you know who is making over 200K when a pandemic hits. A lot of people might of had jobs that were not effected. A lot of people probably loss a big portion of their income.
Get the money out quickly to everyone then tax it back from the people that didnt need it next year.
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Says the guy not changing his mind when presented evidence contrary to his beliefs.
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Since Republicans appear to be holding the line on keeping the stimulus bill under $1 trillion, we have a limited amount of money to allocate. It makes sense to practice some form of economic triage and attempt to get more money to people who need it the most, unless the cost of determining who needs the most help is high relative to the cost of just giving everyone checks.
In an ideal world, we wouldn’t care about the deficit. In this world, we have to win the votes of some people who do. Wherever we draw the line (unless we draw it at a level so high that the deficit scolds say no), we are going to have edge cases who technically have their heads above water, but who are actually drowning.
If we can’t save everyone, then how do we go about saving as many people as possible?
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They could just tax it back based on 2020 income
Plenty of people made too much last year but then were laid off this year and don’t qualify for the stimulus check.
Just give it to everyone and then tax everyone who makes over $x THIS YEAR
Don’t penalize people who got crushed by pandemic this year because they did well previously.
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This is why we shouldn’t do it.
It’s not that there aren’t worthy arguments for using means testing.
It’s that the cost of using them far outweighs the cost of saying fuck it and just helping everyone.
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Yes. Those making 120,000 a year.
Get your fainting couch out at giving them 1,200 dollars
Fucking millionaires getting a million dollars of free PPP money
No biggie.
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Literally every big law firm in town got $2-5,000,000 of free money from working class tax dollars but sure lets bicker about what level should get $1200 measly dollars. Both bills were/are total catastrophic jokes.
Seriously suzz go to the ppp lookup site and start plugging in big privately owned businesses where you live. They all got free millions. Handwringing about the cutoff for table scraps is pointless.
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At the risk of sucking him off yet again, his prose is just invariably elite.
And let’s be real they allocated so much money for the rich in R1 there were HUNDREDS OF BILLIONS ($100,000,000,000s) that they couldn’t even find rich people to take for free. Did they propose giving that to the needy? Of course not. They rolled it over into FREE MONEY FOR THE RICH 2.0. Wouldn’t want the regional car dealership owner to have to sell his 4th boat to make ends meet. That would be TYRANNY.
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Fwiw, people in this situation (like me) will eventually get the stimulus money when we do our taxes.
Getting it up front would have been better, though.
Right but you shouldn’t have to wait
If you are in that situation you need it this year
This is a great example of why you should give it to everyone. I got it in April because I hadn’t filed my taxes yet for 2019, but I didn’t need it. I held off on filing because I knew my income bracket would get squeezed and pay for the bailouts for the wealthy and get nothing back. This time I won’t get it, as I’ve now filed into a higher bracket, and next year (well it won’t matter cause ain’t gonna be no next year for stimulus) I won’t get it, but next year I could really need it if the bottom falls out on me.
Meanwhile I’m footing the bill for corporate handouts. This basically creates a huge donut hole where the upper middle class gets shitted on. I am truly pretty indifferent as to whether I get it. I could use a little extra security right now, but $1,200 isn’t a ton for that anyway. So draw the line wherever, but the help should be going mostly entirely to people BELOW it. I will happily foot my share of the bill for that.
I’d really like to see CARES extended at $600/wk and open to freelancers and self-employed people so I know if I’m fucked I have a safety net. That would do more for me personally than a $1,200 one-time check even though the odds I need the UI are pretty low.
Combine that with $600 for everyone and say $2,400/mo for people who were unemployed more than a month between the end of CARES and 12/31/30, and I’d be thrilled. That would be huge for people who are behind on their rent, and a fair shake for the country economically.
Like it’s ridiculous we’re arguing over how to divy up $600/person. That’s a drop in the bucket.
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And let’s not forget why these businesses “needed” the money to pay employees. Because they sucked the business dry year after year, then when hit with a hardship did they want to reinvest into their own profitable business?
No, they took a hand out from people like us, and said the business would otherwise go under. Like what does that even mean? Some corporate entity files for bankruptcy, then the millionaire reopens later with a different name and the slate wiped clean?
Like these businesses often weren’t really underwater, their owners just cashed out 100% of the profits year after year then cried poor when they had a bad year. Fuck you, take this year, add the profits from the last nine years, divide by 10 and then we can talk.
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FYI, the Reagan Library is temporarily closed.
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