Author Topic: Confirmed: Second Stimulus Check Proposal Of $1,200 Per American Earning Up To $75,000  (Read 2349 times)

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Online mystery-ak

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Jul 23, 2020,11:19am EDT
Confirmed: Second Stimulus Check Proposal Of $1,200 Per American Earning Up To $75,000
Jim Wang

Personal Finance
I share strategies for getting ahead financially and building wealth.

The subject of a second stimulus check has been on the minds of many Americans for months. Until today, we only had half of the puzzle.

Back in the middle of May, the House of Representatives passed the Heroes Act. It created a second stimulus check of $1,200 for Americans earning less than $75,000 a year plus an additional $1,200 per dependent up to three. This was a higher stimulus check amount because instead of $500 per dependent, it offered $1,200.

In many other ways, it was very similar to the Cares Act because it used the same income limits. But it has to yet to move within the Senate due to its high cost.

When that bill was passed in the House, many Republicans were against the idea of a second check. But given the recent economic developments and the resurgence of the pandemic in many areas, there’s a greater appetite for more economic assistance.

Quote
The qualification is based on your adjusted gross income:

    Single filers who earn less than $75,000 a year will get the full benefit. Those who earn more will see their check reduced by 5% of the amount they earn over $75,000.
    Joint filers who earn less than $150,000 a year will get the full benefit. Those who earn more will see their check reduced by 5% of the amount they earn over $150,000.

This is lower than what was proposed by the Heroes Act but since it matches the amounts of the Cares Act, anyone who received a check from the first stimulus check would receive the same one for the second stimulus check.

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https://www.forbes.com/sites/jimwang/2020/07/23/confirmed-second-stimulus-check-of-1200-per-american-earning-up-to-75000/?fbclid=IwAR1qpux6cW3Aud51WR8RDMcgP3VtwTHUU40amxx_L59B4pFQGgPdeXV-IvY#8044062fc473
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Online Fishrrman

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I don't need the money.
But if they're givin' it out, I guess I'll take what they give me.
Learned that reality of life back on the railroad years ago...

Online Smokin Joe

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Are they leaving 17 year old dependents out of this one too?
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Offline sneakypete

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What could possibly go wrong with giving out "free money"?

BTW,what about the 600 bucks a week paid to out of work workers? Will they also get the "free" $1200?
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GRRRRRRRRR!!!

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Offline LottieDah

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The printing press is working over time.

Offline Applewood

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Until this giveaway is passed and Trump signs it, I wouldn't trust anything to be confirmed.  That said, whatever it will be -- these trillions being spent will bring us another step closer to Venezuela, Part II.

Thanks, guys!   *****rollingeyes*****

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Why Central Bank Policies Are Fundamentally Destructive[/b]

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Instead of managing the cycle of bank credit, more recently central banks that had yet to do so have now resorted to outright monetary inflation, as nations attempt to defray the economic consequences of the Covid-19 panic. The Bank of Japan and the European Central Bank had even resorted to negative interest rates long before Covid-19, expanding their money quantities through quantitative easing continually to finance government spending. From June 2008, before the Lehman failure, the sum of the assets of the five major central banks (excluding China) totalled $4.4 trillion; they climbed to $21.8 trillion by the end of June. 10-year government bond yields range from 0.6% for the US to minus 0.47% for Germany and minus 0.51% for Switzerland. While it is not the place of any economist to second guess originary interest rates, these bond yields are clearly the result of their suppression through monetary inflation.

Then there is the seen and the unseen. We see the money handed out by the government to selected businesses and individuals funded by monetary inflation and deem it to be a good thing. What we do not see is the transfer of wealth that accompanies it from all citizens through monetary debasement. And as that debasement accelerates even further, it will only cease when there is no more wealth for the government and its central bank to acquire from the population by inflationary means.

Emphasis added
« Last Edit: July 26, 2020, 07:13:58 pm by Bigun »
"I wish it need not have happened in my time," said Frodo.

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Online catfish1957

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Until this giveaway is passed and Trump signs it, I wouldn't trust anything to be confirmed.  That said, whatever it will be -- these trillions being spent will bring us another step closer to Venezuela, Part II.

Thanks, guys!   *****rollingeyes*****

All I am saying is Trump better veto this POS.
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Offline Applewood

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All I am saying is Trump better veto this POS.

I don't believe he has vetoed any spending spree bill, so I doubt he will for this one.

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I don't believe he has vetoed any spending spree bill, so I doubt he will for this one.

Yep, while all his defenders here will blame congress since they appropriate.  A'int flying this time. **nononono*
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Offline LegalAmerican

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All I am saying is Trump better veto this POS.


Why?  This is just temporary anyway.  Get us over a tough time. 

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Why?  This is just temporary anyway.  Get us over a tough time.

Temporary?  I'll just keep my mouth shut.  Best wishes...
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Offline Applewood

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Yep, while all his defenders here will blame congress since they appropriate.  A'int flying this time. **nononono*

Well, the excuse now is he is up for re-election and if he wants to win, he will have to sign off on these giveaways.  He should have set a precedent a few years ago -- don't sign spending spree bills; demand a real budget instead.  But he didn't and now he has to sign, lest he be portrayed as not caring about the little people and lose his re-election bid.

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Yep, while all his defenders here will blame congress since they appropriate.  A'int flying this time. **nononono*

IMHO both are culpable for all this spending but the fed (fractional reserve banking) makes it easy for them and it's never going to end for so long as our currency is nothing more than monopoly money.
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Online mystery-ak

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Are they leaving 17 year old dependents out of this one too?

From what I have read elsewhere it will be the same as the last Bill unless they cave to the Rats...who want to give everyone in the household $1200
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Online libertybele

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What could possibly go wrong with giving out "free money"?

BTW,what about the 600 bucks a week paid to out of work workers? Will they also get the "free" $1200?

That $600 is due to end at the end of this month (at least for now).
Romans 12:16-21

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Well, the excuse now is he is up for re-election and if he wants to win, he will have to sign off on these giveaways.  He should have set a precedent a few years ago -- don't sign spending spree bills; demand a real budget instead.  But he didn't and now he has to sign, lest he be portrayed as not caring about the little people and lose his re-election bid.

IMHO, President Donald J. Trump has no excuse for no  wall, anarchy in the streets, no balanced budget, plans on granting amnesty, etc.  IF he truly was putting America first we would have a wall, riots would be calmed, we'd have a balanced budget and he wouldn't be promising amnesty.

Yes, he is up for re-election.  I don't have a lot of incentive to vote for him.  Chance are he'll sign another stimulus bill right before election day and the checks again will have his name stamped on those checks ... bigly.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

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All I am saying is Trump better veto this POS.

He won't veto. I'll stake my $1,200 check that I'm never going to get on it. 
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That $600 is due to end at the end of this month (at least for now).

That's in a week.  I'd make book that gets reinstated, over the objections of the businessmen who can't get workers to come back because they're making money hand over fist on unemployment.
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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IMHO, President Donald J. Trump has no excuse for no  wall, anarchy in the streets, no balanced budget, plans on granting amnesty, etc.  IF he truly was putting America first we would have a wall, riots would be calmed, we'd have a balanced budget and he wouldn't be promising amnesty.

Yes, he is up for re-election.  I don't have a lot of incentive to vote for him.  Chance are he'll sign another stimulus bill right before election day and the checks again will have his name stamped on those checks ... bigly.

Every time Trump has signed these spending spree bills, there has been an excuse.  I distinctly recall for one of them, he said he had to sign because there was money in it for his precious wall.  I don't recall what the excuses were for the other bills he signed.

As everyone here knows, Trump was not my choice in 2016, but I had hope that maybe he would surprise me and do good.  In particular about these endless giveaways -- I thought surely, as this reputedly successful businessman, Trump would insist on a balanced budget.  After all, I doubt too many businesses succeed without a balanced budget and I believed he would apply sound business practices such as a viable budget to his office as president.  Makes me wonder how successful his businesses really are if he just throws money around as he is doing as president. 

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IMHO, President Donald J. Trump has no excuse for no  wall, anarchy in the streets, no balanced budget, plans on granting amnesty, etc. 

There is a wall, I'm weary posting and reposting updates and videos of the wall from sea to shining sea.  I don't understand why you continue to discard these inconvenient facts.

The President is not responsible for the anarchy in some cities; forty plus years of liberal rule are.  But the President is once again swatting away feces being thrown from monkeys on both sides of the political aisle for using Federal troops to help restore order and defend Federal property to protect American citizens   ---   who apparently prefer to follow their socialist warlords and wallow in their socialist swamp.   How about pissing on them for a nice refreshing change?

If you want a balanced budget, how about you help out Trump by sending him your magic wand so Congress won't notice.  Oh, and it would be nice if you could send him a bag of sunshine and lollipops, too -- maybe send a pony to Congress........

What has the President *proposed* on amnesty @libertybele ??  Perhaps you could post a PDF of his proposal so I can see what you're trying to shove down his throat.   I'll wait.


Please, pull it together, girlfriend.  Leave the wild, fact-free accusations to the opposition party.



« Last Edit: July 26, 2020, 08:38:59 pm by Right_in_Virginia »

Online Smokin Joe

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What could possibly go wrong with giving out "free money"?

BTW,what about the 600 bucks a week paid to out of work workers? Will they also get the "free" $1200?
Unless they are 17 and living at home.
Here's what can "go wrong", and the architects of this nonsense MADE SURE it did:

If you are under 17 your parents get the $500.
If you are 17 and a dependent they get nothing, even though you can eat that much in a week off the dollar menu.
If you are 17 and were carried as a dependent on someone's tax forms (your parents') you are not eligible for the $1200 either.

If you are 17, you likely lost your entry level job to the lockdown.
You gave up your senior spring stuff at school, from formal dances to that last sports season that might have brought a college scholarship, to science projects and STEM fairs,  any of that stuff leading up to graduation...
and any social life you had was on the sly or over social media.

In short, you got screwed. But there's a good chance you'll be 18 in November, and you aren't so stupid as to realize that you got screwed. If you vote, who are you going to take that out on? Especially if you have been listening to virtually any news program on cable, doing facebook, twitter, snapchat, etc.

Another round of NOT getting any compensation when everyone else does, and you're going to be pissed off, if you aren't already in the streets throwing things and yelling like a Communist.

The point being, is that this "stimulus money" thing is already weaponized, just most people don't know it.
It HAS created an 'underclass" who have given up their stuff (jobs, etc.) and got nothing in return but more rules and a lockdown.

Whose hands does that pay into?
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Online Smokin Joe

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That $600 is due to end at the end of this month (at least for now).
In most states it was already over. Ended on the last full week of July (on the 25th), with no prorating the rest of the month. (6/7 of a week)
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Online libertybele

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There is a wall, I'm weary posting and reposting updates and videos of the wall from sea to shining sea.  I don't understand why you continue to discard these inconvenient facts.

The President is not responsible for the anarchy in some cities; forty plus years of liberal rule are.  But the President is once again swatting away feces being thrown from monkeys on both sides of the political aisle for using Federal troops to help restore order and defend Federal property to protect American citizens   ---   who apparently prefer to follow their socialist warlords and wallow in their socialist swamp.   How about pissing on them for a nice refreshing change?

If you want a balanced budget, how about you help out Trump by sending him your magic wand so Congress won't notice.  Oh, and it would be nice if you could send him a bag of sunshine and lollipops, too -- maybe send a pony to Congress........

What has the President *proposed* on amnesty @libertybele ??  Perhaps you could post a PDF of his proposal so I can see what you're trying to shove down his throat.   I'll wait.


Please, pull it together, girlfriend.  Leave the wild, fact-free accusations to the opposition party.

I've pulled it together @Right_in_Virginia I suggest you do the same. So, are you once again trying to convince me that the wall is complete?  That a lot of the wall that has gone up isn't replacing and repairing existing wall?  Sure liberal governor/mayor are responsible for their cities, but that doesn't change the fact that Trump missed the opportunity to calm these riots when they first started; no, instead he continued on with his idle threats and did nothing until things got way out of control and festered into other cities.  As for amnesty  ....

https://thehill.com/homenews/administration/506844-trump-says-hell-sign-order-with-road-to-citizenship-for-daca

https://myfox8.com/news/president-trump-says-executive-order-will-include-daca-recipients/

....are you going to deny that fact too??

« Last Edit: July 26, 2020, 08:48:17 pm by libertybele »
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.