I don't know how I feel about this. 75k in an Ohio suburb? Sure. 75k in New York City or SF? Those people still need that money.
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Cutting off stimulus checks to Americans earning over $75,000 could be wise, new data suggests
- Thread starter entremet
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It's taking everything for me not to respond directly-because I know I'll get banned.
OP
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Couples capped at 75? Going to be a ton of people in need in the seattle area who make 75. Cost of living is outrageous here.
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That's their estimate based on their model. This is NOT current policy. Could be. Hope not lol.
It's a think tank putting this data out.
People flipped out over the $1400/$2000 confusion. Imagine what will happen if they change the recipients that much. That said, I'm down for those more in need getting it.
This is such bullshit. I live in one of the most expensive cities in the country and if you aren't making at least $100k you are probably living paycheck to paycheck. I don't make more than $75k a year and I still think these people deserve to get a stimmy. Every American citizen should get a stimmy. Even Bill Gates.
Biden-Harris admin would face a massive backlash and they would deserve it.
That cap is ridiculously low for a family in a major metropolitan area
They ran on "elect us and we'll send you 2000 bucks," it's a very simple message and they are fucking it up because Democrats.
They ran on "elect us and we'll send you 2000 bucks," it's a very simple message and they are fucking it up because Democrats.
Economy is gonna need some serious defibrillation, may as well pay it all out.
Part of my thinking is that some people in that class will act irrationally about it and the amount is a small amount to pay to get them to shut up.
Like a kid crying when his brother gets slightly more ice cream.
And others do genuinely need that cause they're under water. 75k isn't a magical shield against this shit
Part of my thinking is that some people in that class will act irrationally about it and the amount is a small amount to pay to get them to shut up.
Like a kid crying when his brother gets slightly more ice cream.
And others do genuinely need that cause they're under water. 75k isn't a magical shield against this shit
The concept is sound (people who make more have a higher propensity to sock this money away rather than spend it as intended), but the way we're actually means testing is shit. What someone made in tax year 2019 is not a good indication of how they're faring now
You have to take into account a hell of a lot more than just income. I do well relative to my area but I couldn't do shit in a big city.
I honestly agree with this. If you are making more than this and have some financial discipline you are not struggling. Can people in even some of the higher cost-of-living cities agree?
Oh yeah. Definitely. 50k for a single person in NYC or San Francisco? Give me a break.
Get the aid out. There's no reason to try and finesse something that needs to go out as soon as possible.
Yeah, I live in the PNW and I would probably be treading water or have poor QOL if I wasn't married with combined Income. I would be living like a king in the Mid West making over 75k though.
Hell, I don't know if I'll ever be able to own my own home here. I'll be renting for life.
Based on this 2019 source for household income, only about 53 percent of households would qualify for the stimulus based on household income. Thats laughable, especially when 75k is only 2 partners making 37k-ish a year
www.statista.com
Distribution of household income U.S. 2022 | Statista
In 2022, just over 50 percent of Americans had an annual household income that was less than 75,000 U.S.
www.statista.com
You just have to suffer just enough by arbitrary measurements to be deemed a person worthy of aid. It's profoundly cruel, and dare I say it, a violent subset of thoughts and beliefs.
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No means testing. Means testing is just a roadblock/deterrent to the people you supposedly want to help.
Very excited for more means-testing! Unsure how the limits applied to the $600 were even a problem, but I'll survive as a single individual without children. Plenty of people making as much as me in different situations may not, though.
This amount of money will not affect the people they are pretending to try and exclude. It will have no affect giving or not giving to them. However, trying to keep them from getting with absolutely hurt the people struggling right now.
Fuck means testing. You want to do something like that, add some taxes on the back-end to require the money be paid back by high enough earners.
There's also the whole factor of how last year's income amount doesn't necessarily mean shit when it comes to your current financial situation. If you had a good job for most of 2019 and then lost it at the end of that year, the government should not be denying benefits because you had a good paying job a year and a half ago.
There's also the whole factor of how last year's income amount doesn't necessarily mean shit when it comes to your current financial situation. If you had a good job for most of 2019 and then lost it at the end of that year, the government should not be denying benefits because you had a good paying job a year and a half ago.
Yeah I understand that people at lower incomes are more likely to spend that money quickly, but the inefficiencies due to means testing also cost money, and it ends up screwing people in high cost of living areas.
I just did a cost of living calculator and picked a random city, if I moved from Boston to Kansas City MO I could have a similar quality of live on almost exactly half the salary. Having a one size fits all income ceiling is dumb
I just did a cost of living calculator and picked a random city, if I moved from Boston to Kansas City MO I could have a similar quality of live on almost exactly half the salary. Having a one size fits all income ceiling is dumb
"Just give people money! Then let the power of the free market do its magic! Otherwise it's too complicated."
Maybe it would be about time that the government finds a way to know when and where allocating resources can have the best impact. Could become useful.
Maybe it would be about time that the government finds a way to know when and where allocating resources can have the best impact. Could become useful.
I am pretty sure this would hurt people who live in expensive cost of living areas... it would hurt me that is for sure. We would barely be over and trust me, we are not doing great.
Exactly. Send everybody the money now and then get it back on their 2021 taxes if they ended up earning more.
Again, I make exactly $75,000. We are one major repair or hospital visit away from being screwed despite spending next to nothing on non-essentials.
It's ridiculous. It writes every single Republican attack ad for next year.
Yeah, just give everyone money. If you really care about rich people not hoarding wealth then make it a priority to raise taxes on the inconceivably wealthy.