Topic: [SERIOUS] What do people think of direct cash payments (US stimulus package)? - page 3. (Read 860 times)

You're the one making the claim so shouldn't you know that?


Please read up on income tax withholding instead of continuing to spread false information.

~90% of workers (non-self-employed / not filing 1040-ES) have already paid the tax and will not owe it "later".

You're welcome.  And you're right - it's a fucked up situation.  Hundreds of thousands will die (hopefully not millions) and the global economy will be set back years (hopefully not decades).

There's nothing anyone can do to make things as good as they were just a few weeks ago.  And anyone that tells you they know exactly what to do now is full of shit.  There is no option that doesn't come with a huge risk.   It sucks.

Great then. Thanks for validating my point that it will help some, but not all people, and is not an invention of my imagination.

Some won't.  Probably millions of people won't.

It depends on a lot of factors.

So people who already worked 3 months this year will not owe taxes on that income? Cool story.

This situation is fucked no matter how you cut it. Destroying future economic prospects for maybe short term gain is little more than pawning off the future of these people for 30% of its value to give them $5 today. Life is hard. Disasters are hard. Solutions that cause more problems than they solve aren't solutions. They are economic warfare on this nation sold to dimwits like you who think feelings = facts.

I can see that.

In general, the lower and middle class has more income tax withheld from their paycheck than they owe, so this will largely not affect the most vulnerable. Higher earners are better suited to weather the economic storm, and the enhanced unemployment benefits will pay higher income earners what works out to just under $47k on an annual basis.

Trump suspended interest on student loan debt and suspended payments on student loans. I don't believe he gave a justification for this, however, this results in people with student debt being less desperate to work to service their debt.

The consensus among policymakers appears to be that having incentives to work is not especially important right now because of efforts to stop the spread of the Chinese Coronavirus. Further, in wartime, prescribed policies are different than in peacetime, the reason being is that you are pulling out all the stops in order to fight for your survival.

This is slightly off-topic, however, I am concerned about the amount of UI benefits and how this will affect employers who need to stay open, and our country's ability to continue to produce and transport supplies and other necessities. When you are not working, you no longer have expenses such as gas (for driving to work), dry cleaning, eating out for lunch (if your employer does not pay for this), and other expenses related to working. It would probably be more appropriate to limit UI benefits to something closer to 80 or 85% of earnings. If the economic shutdown lasts long enough, eventually those that remain working will get fed up with effectively working for free.

I take it then you make a habit of raping clowns because you didn't answer my question about haberdashers. Debate is easy when you just invent things and use your imagination!

Ok then, I take it you made up the part about unemployed people owing taxes later. Sad.

You never miss a beat do you?

I see it as an interest free loan. Something will happen to taxes so that they can recollect the debt they are producing. Its probably not fantastic fiscal policy, but I figure if we had a half way decent government (regardless of party, they're all clowns right now), we can fix the economic problems after we're no longer busy fighting to keep people alive.

The premise you support of free cash handouts, that "solution". You still haven't explained how out of work haberdashers are effected by your plan. As a result of this single area of focus being unaddressed, all other logic is null and void.

What's "my solution"?

You still haven't explained how out-of-work people would owe taxes later.

How does your solution help out of work haberdashers? It doesn't? Well then clearly since it doesn't include everyone it is not worth doing!

Perhaps because you are more interested into turning this into a self serving political device rather than examining the situation realistically.

Solid argument, but how does that make people who lost jobs owe taxes later?


Didn't we already have a massive tax cut a year or two ago? I wonder what happened to it and why didn't it save us from this catastrophe.

It is almost like the world is hard and some problems have no good solutions no matter how much you pretend there is a simple solution.

It's a shit situation for sure.

Shutting down all non-essential businesses and telling people they can't leave their home without helping people who were living month to month till we figure out the global pandemic sounds great... until millions of people lose their homes and go bankrupt and the economy collapses.

Telling people to keep going to work and allowing all businesses to remain open during a global pandemic sounds great... until the economy collapses, millions of people die and millions of others lose their homes and go bankrupt.

Handing out free money sounds like a good idea... until hyperinflation and socialism become the norm, no one gets paid, and your pets become meals.

Suspending income tax on unemployment benefits sounds like a good idea.

But suspending all income tax would mean giving the bottom 50% of the country 3% of the benefits.

The motivation behind the stimulus package is to help people that were already cutting it close with their rent/mortgage payments so that once the this whole thing is over they'll be able to get back to work immediately.  Waiting till next April when they file their taxes won't help much.

Simply file the W-4 with the employer, filling out the form with:
1. N-A on every line other than name, address, SSN;
2. Write "EXEMPT" or "EXCLUDED" across the form;
3. Sign it "non-assumpsit, [your signature.

Do the same with any income tax return you are requested to file.