Stock Market Crash

[ChrisL68]

At $250K, you are talking the top 3-4 percent of taxpayers, so means testing at that point would save you 3 or 4% of the total expenditure.

 

[TownieDeac]

And your defense of the upper class is typical.

yea it's what i'm known for

 

[TownieDeac]

At $250K, you are talking the top 3-4 percent of taxpayers, so means testing at that point would save you 3 or 4% of the total expenditure.

and it's the thing rj cares about the absolute most!

 

[dartsndeacs]

How the fuck am I supposed to take full advantage of all the people that have to sell their pinball machines at firesale prices if they gonna means test my $2,400.

 

[RJKarl]

As I stated above, it's really simple and all the data is easily accessible. There's no need for tons of exemptions or opt outs. You set a hard-line and get the data in a day or two as it already exists.

Further, giving money to the top earners isn't going to back into the economy. Many of them will save it as they have enough already. The purpose of the money is to stimulate the economy. People saving it is counter-productive and saves no jobs.

 

[Liquid Karma]

There's no need for a delay at all for means testing. The same data that we use to send out the first checks would have things like zip code, IRS ID# and W-2 info. It's right there.

Thinking giving high earners money will have any impact is silly.

Cool, now cross ref that W2 data that is now almost 3 months out of date with everyone who went on unemployment in the last 3 months. Or with people who are furloughed, which prevents them from getting unemployment benefits.

And then go to work on 1099 employees, the self employed, etc.

 

[Louis Gossett Jr]

For some reasons RJ mush brain can understand that you send checks to everyone, and then take it back later from those that didn't need it. Therefore as a rich person you either spend it and help the economy or hold it, save it, and it gets taken back later. Oh shit the calamity, instead lets spend time, energy and resources to make sure certain people do or don't get checks.

 

[PhDeac]

Why do you all bother with him? Just let him go.

 

[TownieDeac]

lol he can call me a socialist bernie bro and a limousine lib in teh same brain space i have no idea why i bother

 

[RJKarl]

For some reasons RJ mush brain can understand that you send checks to everyone, and then take it back later from those that didn't need it. Therefore as a rich person you either spend it and help the economy or hold it, save it, and it gets taken back later. Oh shit the calamity, instead lets spend time, energy and resources to make sure certain people do or don't get checks.

This post is moronic and totally inaccurate.

Show me ANY place I said "take it back" What I've said it NEVER send it out in the first place.

 

[RJKarl]

lol he can call me a socialist bernie bro and a limousine lib in teh same brain space i have no idea why i bother

I've never typed anything with as many mistakes in one line as Townie just did.

OOOH, OOOH, he's now going to say it was intentional.

 

[Liquid Karma]

This post is moronic and totally inaccurate.

Show me ANY place I said "take it back" What I've said it NEVER send it out in the first place.

Which will delay sending it out to everyone.

 

[dartsndeacs]

It seems you are all arguing over nothing. It's kinda hard to read, but I'm fairly sure the senate plan is structured exactly that way. Send the money out to everyone, and count the amount as a tax credit when you file your taxes. So if your income is over that amount (I've read you can use either 2019 or 2020 income), then you just end up paying it back when you file your taxes.

Link to the actual language of the bill

https://www.foxnews.com/politics/read-mitch-mcconnells-coronavirus-stimulus-proposal

 

[RJKarl]

At $250K, you are talking the top 3-4 percent of taxpayers, so means testing at that point would save you 3 or 4% of the total expenditure.

Which is a significant amount of money that can be better used.

 

[JuiceCrewAllStar]

Emergency aid is exactly that. A family making $250,000+/year doesn't need $1000,$2000 or $3000. Use the money that they would have gotten to help the poor and nearly poor more.

Yes, means testing is critical.

how are you going to identify which families are making 250k in 2020? or in the last 12 months?

 

[tigerswood]

This has to be a troll job by RJ. Has to be. Or maybe he just HATES restaurant and small business owners and wants them to get nothing and like it?

 

[dartsndeacs]

The interesting thing to me is it seems like we're going to need to auction off about 3-4 trillion in treasuries in a very short period of time. Will be interesting to see what ends up happening to the dollar and rates.

 

[RJKarl]

how are you going to identify which families are making 250k in 2020? or in the last 12 months?

It's already a staggered amount. It will be the same data for that.

 

[tiltdeac]

It seems you are all arguing over nothing. It's kinda hard to read, but I'm fairly sure the senate plan is structured exactly that way. Send the money out to everyone, and count the amount as a tax credit when you file your taxes. So if your income is over that amount (I've read you can use either 2019 or 2020 income), then you just end up paying it back when you file your taxes.

Link to the actual language of the bill

https://www.foxnews.com/politics/read-mitch-mcconnells-coronavirus-stimulus-proposal

Senate plan sucks because of the stupid phase in. The poorest people need more money, not less. At least they can argue a phase in like the EITC encourages work. Still controvertial, but it's at least rational. But we certainly aren't trying to incentivize work during a pandemic when we are asking people *not* to work. No reason to give poor people less.

 

[RJKarl]

This has to be a troll job by RJ. Has to be. Or maybe he just HATES restaurant and small business owners and wants them to get nothing and like it?

As usual, you make no sense. If that restaurant or small business makes that amount of money $1000 isn't going make any difference.