- Status
The study that determined child poverty would be cut in half was based on a package that included the minimum wage hike. Combined with the fact that the child benefit is only ensured for a year, the point of child poverty is being greatly exaggerated.
It's a good bill, but it ought to not be the only bill because Americans need a lot more help.
An amended return. I'm hoping they just make a webportal tho lol it's possible
Wait what
If I already filed is there a way to get money back? I already paid the 10% in taxes as I received each unemployment deposit last year.
You should be able to amend your return. I'm sure a lot of people will be.
Thank you for this. The whole thing is extremely popular.
How do I amend my tax returns and should I do it now since the bill has been signed into law? I'm not sure how to do this lol
Different studies, different authors but child poverty still gets halfed. And yes it's for a year but we all know entitlements are difficult to withdraw, and Republicans couldn't even pass the ACA repeal even after campaigning on it for years and years.
2021 Poverty Projections: Assessing Four American Rescue Plan Policies
Four key elements of the American Rescue Plan Act would reduce the projected poverty rate for 2021 by more than one-third.
You should wait. The IRS will most likely post some guidance about it and If you're using tax software, you'll have to wait for them to update their software anyway.
That's good news. I hope it pans out as suggested and lasts a lot longer than a year.Different studies, different authors but child poverty still gets halfed. And yes it's for a year but we all know entitlements are difficult to withdraw, and Republicans couldn't even pass the ACA repeal even after campaigning on it for years and years.
2021 Poverty Projections: Assessing Four American Rescue Plan Policies
Four key elements of the American Rescue Plan Act would reduce the projected poverty rate for 2021 by more than one-third.t.co
They did, but as far as the past two stimuli were concerned, adult dependents don't exist.
I am just saying, they owe you $2K after this next round...unless they already gave you the $600.
Adult dependents can get the full $2000 with the recovery rebate credit on their 2020 returns.
It's possible the first $1200 is too but I'm not certain on that yet.
I mean more what they got "for me", if that makes sense. The past two checks they got the full amount + 1 child (I have a younger brother), this is the first time they'll get anything on my behalf and I'm gonna pocket it lol.
I filed through Turbotax like a month ago and I was not eligible for that as far as I could tell, though I have to amend my taxes anyway because I collected unemployment which is now tax exempt up to about $10k so I'll see how that works out in a few weeks.
Yeah, the bill just passed lol You're eligible now with an amendment. There will be an option then.
Oh, I thought that didn't make it into the final bill. In that case they owe me $2000 then (unless the $600 is immediately refunded to my direct deposit).
Let me add: To admit that its a good bill isn't the same thing as "giving up the fight for progressiveness". If you think it is, you are wrong. Its okay and even healthy to acknowledge progress.
So, with that tax free amendment for unemployment, does that extend to state taxes, or only federal?
That's what's blowing me away, what's the play for Republicans on this? This should've been an easy yes
Id say about 70% of the Republican caucus is just trying to be obstructionist. Vote no, no matter what to try to do what they did to Obama and sink Democratic chances of holding the House or Senate come 2022 by slowing the recovery. This worked in 2009-2011 and beyond to a degree. Republicans supported bipartisan financial stimulus and recovery when Bush was president, and then universally opposed it when Obama was, but Democrats got it passed because they had a 59 seat Democratic Majority. The economic recovery from the recession was slower than previous recoveries, mostly because of GOP obstruction, partly because of Democratic hesitance to really open the bellows on the fire and get it roaring ('penny wise and pound foolish').
And then like 20% actually think that with a $1.9t spending bill with the economy already recovering then it might lead to inflation and extended high unemployment. Like unemployment benefits continue into October or w/e, and so that'll keep the unemployment rate higher than it would be if people are forced to go back to work or find a worse job than they had before the recession. So... Let'ss ay the economy is really improving by June, but unemployment could still be 8% because for some people the $300/week stipend plus their states unemployment benefit might be better for them than going back to work, risking their health, and maybe being paid the same or less... so the number might be higher than it would be otherwise. There's some small risk that the spending could lead to raising inflation, so the fed will have to raise interest rates to control it, and demand on Housing from the pandemic (nobody is leaving single family houses right now, we're at a historic low for volume), and high unemployment could make a risky economic situation. I think this is the traditional conservative argument against government spending in terms of economic results ... Personally I think it's wrong and the economy is probably going to be better in ~2022-2023 than it was in 2019, and DEmocrats are going to say -- This is us, we own this historic economy, and Republicans unanimously voted against it.
I think it's a risk for those ~20% (say the Mitt Romneys, Susan Collins, Lisa Murkowskis who supported a smaller bill -- $600-$900b) in the GOP.
And then you have 10% of the Republican caucus who is sniffing glue, laying prostrate at the golden calf of Trump, and I can't understand how the fuck they work.
This was good but Dems need to push this was all the work of Senate Democrats. If the news or people say "The Senate pass x" then you are giving credit to those other evil bastards. No they didn't help at all, vote them out and Vote Democrat.
They better not play the "ill play nice and hold back" Obama card. Biden and cufrent dems need to remind everyone what happened here.
They better not play the "ill play nice and hold back" Obama card. Biden and cufrent dems need to remind everyone what happened here.
I was wondering the same thing last night, but I'm working under the assumption that it applies to federal income tax as well as state.
You didn't get the first $600? You should contact Metabank about that.
I'm hoping. Glas I waited to do mine. Shit is going to flip me from owing a good chunk to at least breaking even.
Just wanted to confirm bc a friend asked, where is this in the bill? can't seem to find any sites parroting this.
Mentioned here:
Are you old enough to receive a stimulus check? What it takes to qualify as an adult
Are you eligible to get your own stimulus check, contribute to your family's overall amount or get no money at all? We'll tell you how the eligibility rules for the third stimulus payment apply to you.
www.cnet.com
Links didn't show up, but they're on that page with more info.
The "This is how Biden will lose to Trump" takes from last week were just preposterously stupid.
"lmao 2022 is gonna be a bloodbath!".
I swear there was a memo going around because i saw that nonsense way too much.
I'm not getting the check, but I appreciate all the other stuff in the bill that will make the lives of many Americans in need better, or at the very least less awful. Good job to Joe and the dems who got it done.
There's a huge online bubble where the default reaction is some combination of anger and misery, and it is hard to push through how/why a lot of takes are wrong. Huge chunks don't know what reconciliation is or isn't, so didn't realize that it was capped to $1.9T, and so then thought that any slight shift in any part of policy was a reduction in the overall amount, which it really isn't-- it was proposed as $1.9T, and ended at $1.9T. And if people don't know what reconciliation is, they think it is a total free for all where anything goes, so there's all kinds new votes to get livid about even though they wouldn't actually translate to actionable government policy.
Like, y'all, reconciliation being what it is is how/why Republicans ended up with the most modest repeal of Obamacare possible (defanging the tax incentives). If they could repeal the whole thing with 50 votes, they would, but they couldn't, so they could just go after the tax incentives/penalties which fit the tax/spend rules for the process.
Manchin is almost always on board. I take it they solidified him going forward in backdoor talks before this bill passed. He's still going to play his will he/won't he game that everyone laughably falls for of course.
Glad to see some movement but this is probably already the will he of the won't he. Expect him to backtrack again. Then again!
https://www.urban.org/research/publ...-assessing-four-american-rescue-plan-policies
The "child poverty cut in half" figure is true with or without the minimum wage increase. The child allowance is temporary for now, like you said, but Democrats have also committed to making it permanent. I wouldn't be shocked to see a permanent extension included in the infrastructure bill.
- Status