Author Topic: Trump administration eyes checks to Americans amid coronavirus outbreak  (Read 473 times)

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Online mystery-ak

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Trump administration eyes checks to Americans amid coronavirus outbreak
By Morgan Chalfant and Brett Samuels - 03/17/20 12:18 PM EDT

Treasury Secretary Steven Mnuchin said Tuesday that the Trump administration wants to send checks to Americans in the next two weeks in order to address the economic impact of the coronavirus outbreak.

“You can think of this like business interruption payments to the American worker,” Mnuchin told reporters at the White House on Tuesday. “Although the president likes the idea of a payroll tax holiday … we’re looking at sending checks to Americans immediately.”

Mnuchin is expected to brief Senate Republicans on the proposal later Tuesday. President Trump, who also appeared at the press briefing, said the administration could make such payments in “four or five” ways. He said a payroll tax cut was one way of getting money to Americans but said the administration was leaning toward other methods in order to do so more quickly.


“There are some very good ways of getting the money out and getting it out quickly,” Trump said, adding that officials would have “a pretty good idea” of how they would accomplish it by the end of the day.

Mnuchin said the administration was considering putting a cap on who would receive the one-time payments depending on income.

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https://thehill.com/policy/finance/488011-trump-administration-eyes-checks-to-americans-amid-coronavirus-outbreak
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Offline Applewood

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Ok, make mine in the amount of $28,000, which is what I've lost out of my nest egg so far with the markets crashing.

Online Cyber Liberty

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Ok, make mine in the amount of $28,000, which is what I've lost out of my nest egg so far with the markets crashing.

I'd cheerfully accept a couple thou.  Doesn't mean I'd vote for a Rat.

You only lost $28K?  I'd have lost a lot more had I kept my eggs in the Large Cap Growth basket.  I didn't move it out because of what the market was doing (I missed out on some growth), but because my investment horizon became too short for me to take that risk for growth.  I retired a bit sooner than I had planned.
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Online libertybele

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We sold some stock as the market was tanking and then additional stock when the market continued to tank.  Mostly dividend stocks -- so not only our we out any gains -- we're not getting income from dividends -- we'll adjust till when and if we get back in. In hind sight, we should have stayed in (I've been doing this long enough to know better) -- we still would be getting the dividends. First glance we lost $10,000.00.  After throwing up the first time, I haven't taken a look to see what we lost on the 2nd batch.  We still have some bond funds and sold our global equity fund that we've had for years.
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Online libertybele

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I'd cheerfully accept a couple thou.  Doesn't mean I'd vote for a Rat.

You only lost $28K?  I'd have lost a lot more had I kept my eggs in the Large Cap Growth basket.  I didn't move it out because of what the market was doing (I missed out on some growth), but because my investment horizon became too short for me to take that risk for growth.  I retired a bit sooner than I had planned.

I don't think we're going to see thousands or even a thousand.  A couple hundred dollars for each adult -- maybe $300 - $500.  Even at that will increase the debt even more on top of the billions upon billions that have already been spent on corona. Not a good thing.

Also--I highly doubt this will be tax free folks.
I Believe in the United States of America as a Government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union one and inseparable; established upon those principles of freedom, equality, justice and humanity for which American patriots sacrificed their lives and fortunes.  I therefore believe it is my duty to my country to love it; to support its Constitution; to obey its laws to respect its flag; and to defend it against all enemies.

Offline Applewood

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You only lost $28K?  I'd have lost a lot more had I kept my eggs in the Large Cap Growth basket.  I didn't move it out because of what the market was doing (I missed out on some growth), but because my investment horizon became too short for me to take that risk for growth.  I retired a bit sooner than I had planned.

I had to stay partially in stocks for growth purposes because over the years, thanks to some bad advice (among other things) I ended up with a lot less money for retirement than I had planned, plus I was forced to quit work early because of a disability.  My advisers keep saying don't panic; keep your investments as is,  but I'm going to ask if I can move at least some of the money to something safer temporarily even though I won't be making any money.  I'd like to at least hold on to what I have until things quiet down. 

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I had to stay partially in stocks for growth purposes because over the years, thanks to some bad advice (among other things) I ended up with a lot less money for retirement than I had planned, plus I was forced to quit work early because of a disability.  My advisers keep saying don't panic; keep your investments as is,  but I'm going to ask if I can move at least some of the money to something safer temporarily even though I won't be making any money.  I'd like to at least hold on to what I have until things quiet down.

That's wise.  Good luck!
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
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Offline Applewood

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That's wise.  Good luck!

Thanks -- and to you and everyone else.  By the way, I see the market is up today, but per the pattern of late, I expect another big drop tomorrow.

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Thanks -- and to you and everyone else.  By the way, I see the market is up today, but per the pattern of late, I expect another big drop tomorrow.

The VIX is through the roof, I imagine.  The volatility is insane, and not wise for the novice trader. 
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed: