Current Events > Restricting the stimulus based on an arbitrary income is stupid

(+) Yeah! (+)

The point of the stimulus is to stimulate the economy as much as to help struggling people. When given to everyone, it helps local businesses and gives a new influx of money to local communities that can help a lot of businesses thrive.

TC you should know how politics works, its all about optics. in 2 years, when republicans have done an about face about "fiscal responsibility" after passing huge spending and tax cutting bills, they'll point to bills like this and scream that democrats cant control spending. and the immediate counter will be "while republicans gave money to the rich who didn't need it, the democrats gave it back to the most deserving..."

---

did you tell them this?

---

RadiantJoyrock posted...

When given to everyone, it helps local businesses and gives a new influx of money to local communities that can help a lot of businesses thrive.

This isn't fully true. Rich people don't really spend their money like that.

I get what you're saying, though.

---

if the government gave me $1400 it would just sit in an account. i have enough financial freedom to spend what i want, giving me an extra $1400 isn't going to make me go out and friviously spend it because i don't frivolously spend anything. it would not affect my financial / spending behavior whatsoever.

---

Giant_Aspirin posted...

if the government gave me $1400 it would just sit in an account. i have enough financial freedom to spend what i want, giving me an extra $1400 isn't going to make me go out and friviously spend it because i don't frivolously spend anything. it would not affect my financial / spending behavior whatsoever.

And you're not alone in that, but you're also nowhere near the majority.

monkmith posted...

in 2 years, when republicans have done an about face about "fiscal responsibility" after passing huge spending and tax cutting bills, they'll point to bills like this and scream that democrats cant control spending.

They are doing that now.

---

RadiantJoyrock posted...

And you're not alone in that, but you're also nowhere near the majority.

i understand. i also understand that not every household with my income level is able to save the way i am, my situation is fortunate.

but, really, do you think $1400 will make much difference to households making $100k/year per person or more?

Antifar posted...

They are doing that now.

and they've always done that

---

https://specials-images.forbesimg.com/imageserve/5ef6203465f80c0006342c62/960x0.jpg?fit=scale
https://www.forbes.com/sites/investor/2020/06/26/inflation-baked-in-as-us-money-supply-explodes/?sh=470a1c917829
<img src="https://image.cnbcfm.com/api/v1/image/106649548-1596642770437-20200805_m2_money_supply_percent_change_year_earlier.png?v=1596642776&w=678&h=373">

Where money?!

WHERE MONEY?!

Give it a rest.

---

I dont mind targeting people who need it most, but they can't model that on 2019 taxes. thats dumb.
also they can't taken2 months to figure that out. get that shit out.

---

Giant_Aspirin posted...

but, really, do you think $1400 will make much difference to households making $100k/year per person or more?

The issue is that these payments are issued based on what people made in 2019. There is an incredibly large number of people/households whose situations have changed drastically since then

---

I think using 2019's tax return to determine who gets a stimulus check is also a glaring flaw cuz, uh, people lost their jobs or received massive pay cuts in 2020 for some unknown reason.
---

Bananana posted...

The issue is that these payments are issued based on what people made in 2019. There is an incredibly large number of people/households whose situations have changed drastically since then

maybe they can't base it in 2020 income because 2020 taxes aren't due for a few months?

but yeah i agree that making 2019 income the basis is silly considering how many people have been adversely impacted financially lately

---

Giant_Aspirin posted...

maybe they can't base it in 2020 income because 2020 taxes aren't due for a few months?

Of course they cant, which is why I think basing it off income at all is a flawed system. Theyre essentially choosing leave some of those who need help out to dry to avoid helping those who dont need it over the opposite, which is pretty shitty in this type of scenario in my opinion

---

Squall28 posted...

WHERE MONEY?!

---

RadiantJoyrock posted...

And you're not alone in that, but you're also nowhere near the majority.

proof, where?

people who have disposable income are already spending it as they please and more disposable income wouldn't change that fact either way.

hell, i have tons of disposable money yet i'm debating on whether to fork over $5 for a steam game.

---

AsucaHayashi posted...

i have tons of disposable money yet i'm debating on whether to fork over $5 for a steam game.

take a look at gameplay. if it sucks don't buy.
i sometimes do this after checking out difficulty to 100% the game.
---

Bananana posted...

Of course they cant, which is why I think basing it off income at all is a flawed system. Theyre essentially choosing leave some of those who need help out to dry to avoid helping those who dont need it over the opposite, which is pretty shitty in this type of scenario in my opinion

fair point.

---

Giant_Aspirin posted...

i understand. i also understand that not every household with my income level is able to save the way i am, my situation is fortunate.

but, really, do you think $1400 will make much difference to households making $100k/year per person or more?

and they've always done that

I haven't received either of the 2 stimulus checks because I am fortunate to make more than the prior limits. However, I somewhat agree and disagree with what you are saying. I don't need the $1400, and it wouldn't make a difference in whether I ate or paid mortgage, but it would effect me in that I would be more likely to spend it on dumb shit, a weekend trip, car, or invest it.

I think, if the point is to spur the economy than they should be giving it to more people than they are. If the point is to help people that need it, than they should give more $ to fewer people.

One time payments of $600 or $1400 isn't going to help the people that lost their jobs or closed their businesses get by for very long. It's going to mostly be injected into the larger economy to keep everything from collapsing but there are still underlying conditions that it doesn't really address.

---

Antifar posted...

They are doing that now.

sure, but i'm mostly talking about election years.

---

Giant_Aspirin posted...

if the government gave me $1400 it would just sit in an account. i have enough financial freedom to spend what i want, giving me an extra $1400 isn't going to make me go out and friviously spend it because i don't frivolously spend anything. it would not affect my financial / spending behavior whatsoever.

same for me

---

The previous limits were fine. There's just one user on Gamefaqs that had a problem with it.

It should probably be based on 2020 taxes though.
---

I guess this is how they get out of paying a lot more people than they have been. Thank you Biden.

---

Giant_Aspirin posted...

if the government gave me $1400 it would just sit in an account. i have enough financial freedom to spend what i want, giving me an extra $1400 isn't going to make me go out and friviously spend it because i don't frivolously spend anything. it would not affect my financial / spending behavior whatsoever.

This
---