Plan is for a big cash infusion within the next 2 weeks, because the payroll tax cut plan (which effect would take 6-8 months to percolate through the economy and be felt) was criticized as much too slow.
nm
How will Trumpco make a profit from this?
Late April, the article says.
That’s fine 'n all, but it’s not going to help people who want to self-quarantine now pay this month’s rent
He probably sees it as a way to salvage his chance of getting re-elected (and thereby not spending the rest of his days as a guest of the State of New York).
Will the checks be issued by his university?
The payroll tax cut would have taken money from Social Security. Secondly, how do you reduce payroll tax on the thousands of workers who are being laid off? Stupid idea.
Of course it’s a stupid idea, Steve Mnuchin suggested it.
He is trying to repeat Bush Sr.'s losing strategy of attempting to buy his way back into the good graces of the voters.
By April $1k won’t be nearly enough. And if he only sends it to people with jobs, it won’t help those who need it most to get through this. :smack:
I’m surprised that anyone on the Republican side is considering anything like this. I heard Romney was in favor of this too. That said, I seriously doubt it’ll happen. I can’t imagine enough Republicans going along with something that might actually help people to let it pass, especially not McConnell. Though I would be delighted to be proven wrong.
I don’t pay into Social Security, so that would’ve helped me zero.
Romney also essentially invented Obamacare. Depending on your POV, he either consistently gets denied credit or avoided credit for things people don’t like.
A few questions.
[ul]
[li] Do all Americans have mailing addresses? [/li][li] Do all Americans need a thousand bucks? [/li][li] Will checks be mailed[/li][list]
[li] to homeless camps?[/li][li] to homes vacant after eviction?[/li][li] to RVs and trailers in WalMart parking lots?[/li][li] to US citizens out of the country?[/li][li] to households worth over a million bucks; [/li][li] to emptied college dorms? [/li][li] to sanctuary cities?[/li][/ul]
[li] Will recipients lacking bank accounts pay large check-cashing fees? [/li][li] Will thieves follow postal carriers, emptying home mailboxes?[/li][/list]
I won’t bother asking about inflation. What’s another trillion? Pocket change. :smack:
If not checks, why not cash-cards? Because same problems as checks. Why not direct deposit? Because not everyone has an account. If the money’s there, why not spend it on medical supplies and services? Because that would be unacceptably beneficial. No, printing a trillion bucks and strewing cash from gold helicopters is the only solution.
Why? There’s a Republican president, so Republicans are pro-stimulus until at least November.
You aren’t really are you?
They think $1000 will make people forget how much the president has screwed the pooch on this thing. History isn’t going to be kind to him on a variety of topics, but it is going to salughter him with respect to his initial response to COVID-19. No matter how semi-presidential his pantomiming is now, the receipts showing how much of a monster he is will live forever.
The sad thing is there will be a segment of the population who will manage to give him and his enabling party a mulligan even on this. They will point to their $1000 check as evidence that he tried to do something. I’m sure there are conservatives who still give Hoover props for his feckless efforts too.
I recall W Bush pushing out payments a ~decade ago. Does anyone recall how that worked? I vaguely recall it being associated with filing my tax return (maybe a refundable credit?) Not a separate mailing.
I don’t think the feds even know where I live. I moved last year. Not that I need a check, but I’m not sure how, mechanically, this is supposed to work.
What you’re remembering is the economic stimulus of 2008, which did indeed take the form of tax rebates. It was, I think, $300 per person, or $600 for a married couple filing jointly. For most people, it was an additional line on the 1040 form when you filed your taxes.
Even earlier, in 2001, the Bush administration sent out “tax rebate” checks, which involved actually mailing checks to, theoretically, every taxpayer in the country. I think the amounts were the same–$300 for individuals, $600 for married filing jointly–and the checks were sent by the IRS, since they had the records of who lived where and who had payed taxes.
So mailing a check to most of the population is at least theoretically possible. Even if this passes through Congress, I’m not sure whether the issuing of those checks could actually happen as quickly as the President is suggesting. From what I remember in 2001, the checks were spread out over several months. I don’t think I got mine until about July or August. I don’t know how practical it is to mail checks to everyone within just a few weeks.
Increasing in size! Now the talk is that it may be $2,000 checks being sent out, but with limits so that the wealthy don’t qualify to receive them.
Direct deposit is far more common now than in 2001, of course, so they wouldn’t be mailing very many checks at all.
That’s true, of course, and I thought about that. Of course, that would require knowing everyone’s bank account number and routing number. I suppose the IRS would have that information for anyone who’s gotten a tax refund and had it direct deposited. But there are lots of people who didn’t get refunds, or who might have changed banks in the meantime, or who just plain don’t have bank accounts at all. There would be a lot of logistical challenges.
Plus all the articles I’ve seen about it seem to say “checks.” Maybe that’s just shorthand.