Of course. “I’m not even mad, I’m LAUGHING! HAHAHA!” is a standard meme.
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People who don’t qualify because they made a lot in 2019 but their income cratered in 2020 definitely get a tax credit/refund for the stimulus amount and you can already file your 2020 taxes now.
It doesn’t have the political punch of just getting a check and there will be an inconvenient delay until they file taxes for some people who really need it but it’s a resounding success that this is the worst thing we have to complain about re: Biden.
Biden seeks a return to the halcyon days of his youth…
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Good. Progressing the cause of man escaping the confines of Earth is one of the few things that truly matters vis a vis the preservation of humanity imo.
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You can “file” taxes but software companies are holding them. The IRS isn’t processing filed returns until next week.
Yeah this. I just don’t see a world where Manchin allows too many people getting checks to be what causes him to change his vote to No on this.
There is 9 of them now, but its still true we don’t know how far they will push it, especially since its very likely the house will push back. My guess is some sort of compromise. I’m hoping if they must do this, they focus on the back end. Still start at 75k but more drop off significantly after 100k. The voting base of 50k-100k is just way too large to piss of, 100k-150k less so.
100k+ is still a ton everywhere outside of CA/NY and dems have those states absolutely locked up. So they would still be fucking over their constituents, but the political backlash would basically be zero, nationally at least.
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Hopefully the low jobs numbers today convinces people that keeping the checks where it is is fine
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And they can make the six-figure earners in NY/CA/MA, etc. happy if they restore SALT deductibility
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Longer for some of us. For some reason the IRS does not have the disaster relief for 401K withdrawals form ready yet
NJian here with household AGI right in the middle of the current phaseout range. For sure I’d trade the half-stimulus for getting my damn deductions back.
(Whispers)
Conservatives do kind of have a point on SALT. It benefits wealthy people. Furthermore, it gives political cover to high tax state politicians as the people who benefit from SALT get something like 30-40% of any tax increase back in deductions.
Now, its hard to argue your typical middle class New Jersey homeowner, who pays a truly absurd $20k in property taxes on like a $500k house, shouldn’t get some relief. I think a cap is good - it just needs to be higher than 10k.
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Yes, it’s ok to recognize when conservatives accidentally back into good policy. Mortgage interest deduction should also go away entirely.
- signed, person in Ohio who pays a truly absurd $15k in property taxes on like a $500k house.
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This is wild, MN is a very tax happy state and I only pay $6.5-7k in taxes on a similar valued house
We’re not getting off this rock before taking our best shot at self-destruction.
When did Ohio get high property taxes? My former in-laws moved there and were so excited about the lower than Michigan property taxes- until their school age kids came home with a list of school fees like a CVS receipt.
And MN has 10% income tax. They get it one way or another.
PA seems like it’s not too bad in any category except at the pump.
Ohio McMansion owners up in here.
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It varies heavily by school district. In good school districts it’s not uncommon to pay 3% of the market value of the house, every year.
Despite being controlled by Republicans forever, Ohio is not a low tax state.