What are you buying with your "stimulus" money?

Keep in mind, it has to be safe to assume this will show as taxable income at year end….

Chuck Melcher wrote:

Keep in mind, it has to be safe to assume this will show as taxable income at year end….

I’ve not personally investigated this claim myself yet but was told they are setting it up as a 2020 tax credit that you will be allowed to claim early (as in not waiting till you file your 2020 return).

Damn so many who dont quality. Didnt realize those on IDO were so wealthy

I was thinking the same thing crappie.Anybody out there want to adopt an (older) child,potty trained and everything.

Just under the cut line and 1 kid so probably use it to pay the mortgage? Remodeling the bathroom so might pump some into Menards? I hope they don’t go off my 2018 earnings or I am out??? My 2019 taxes are done a month ago so we shall see, but I will not count my money till the dealings done.

crappie55369 wrote:

Damn so many who dont quality qualify. Didnt realize those on IDO were so wealthy

I too was a bit surprised.

I was never a “high income earner”, but always made a comfortable living balancing current obligations and extras (fun stuff) to keep the present enjoyable with still an eye for the future as far as retirement.

Ironically, back in January, I was handed my layoff papers…long before this current quagmire. My last day was to be April 24.

Argh…a little too early for retirement, a little too late to “reinvent” myself on a new career.

Figured I’d find a way though. And I still hope too now.

Anyway…I know, a rambling monologue basically saying I’ll need whatever stimulus comes out of this to just cover some of my expenses after the layoff.

If you don’t need, somewhat noble to donate it. If I were really noble, I could just donate it too.

I’ll make good use of it anyway, the less I have to suck on the tit of government handouts…the better the world will be.

Wow I’m surprised a lot you guys won’t qualify. Good for you guys! Making me wish I would’ve went to college!

BassinBill wrote:

Wow I’m surprised a lot you guys won’t qualify. Good for you guys! Making me wish I would’ve went to college!

Literally the cutoff to zero is just under 99,000/year for a single person with no kids. Not saying they are suffering but wouldn’t call them “high income” either. Living comfortably, I would hope.

BassinBill wrote:

Wow I’m surprised a lot you guys won’t qualify. Good for you guys! Making me wish I would’ve went to college!

All it does is make me wish I served in the US Military.

I’ve regretted that for a long time.

“Ask not what your country can do for you; ask what you can do for your country.”

― John F. Kennedy

BassinBill wrote:

Wow I’m surprised a lot you guys won’t qualify. Good for you guys! Making me wish I would’ve went to college!

Of the four people I know that won’t qualify… none of the went to college. Two of them hardly got out of high school.

I hope the money helps those that need it most…

It was hard seeing all the smiles on the politicians after the final votes were in… It was like they were proud. While needed, this will bite us in the rear for generations. I just hope a modest portion of the package does good vs getting sucked up by the government process. I’m all for the good intent- but the waste will be terrible.

Chuck Melcher wrote:

<div class=”d4p-bbt-quote-title”>BassinBill wrote:</div>
Wow I’m surprised a lot you guys won’t qualify. Good for you guys! Making me wish I would’ve went to college!

Of the four people I know that won’t qualify… none of the went to college. Two of them hardly got out of high school.

I hope the money helps those that need it most…

It was hard seeing all the smiles on the politicians after the final votes were in… It was like they were proud. While needed, this will bite us in the rear for generations. I just hope a modest portion of the package does good vs getting sucked up by the government process. I’m all for the good intent- but the waste will be terrible.

I havent fact checked it yet but supposedly congress got a raise,and an art institute in NY got a lot of money,anyone know for sure on that??
and you can bet your keester there is a tremendous amount of waste we wont know about for years to come,it never fails.

now,this is said tongue in cheek but if so many of you dont need the check if forty members here will send their checks to me I can pay off the shop and rename it with a name suitable for the good of IDO.
each donor will get a free tune-up on their boat and I will travel to your location to perform it.
hhhmm,lets see now,forty trips to Mn or Wis,meh,I can burn up a whole summer taking care of things if I can find someone capable of running the shop in my stead LOL.

one great lap dance at the Border Lounge?
DT

What ever money they give me if any, I’m buy powerball ticket! Then it’s all Hookers and blow. YOLO.

I’m married and don’t know where we fall without looking. Likely over the maximum total income to get the full amount, but under the ceiling of $198k for a couple that equates to nothing given.

I’d guess half of whatever we get will go into our daughters investment accounts, and half into the basement safe until the market stabilizes and we add to our own investments. We won’t be exactly “stimulating” the economy with whatever we get.

Well, I believe that I’m going to give ours to my sister.

She is the elder in our family now. She dealt with our mother and father during their later years including death.

At 72 she is having to have 2 part time jobs to make ends meet. She has no 401K or anything like that. She cut her hand on a meat slicer at the grocery store where one of her part time jobs is at. That removed her from her other now part time job as she is a beautician and her clients are the blue hairs.

We just don’t need the money as maybe as bad as she might. Got to run this by “She Who Must Be Obeyed” still. But that is my thinking.

Mike W wrote:

Do small business owners qualify for this?

Mike, from what I understand (which honestly I haven’t read the entire thing) small business owners can take a zero interest loan for making payroll during the shutdown. The loan will be forgiven provided that you use it for payroll AND you don’t have any head count reductions. That was based on a draft, so I have not read the final bill to see what the democrats took away

” A fool & their money are soon separated.”

I’ve separated myself from a lot of my money over the years. I’ll just take what they give me and hang on to it for the time being. $1,200 sounds like a lot, but it’s really not much.

chuck100 wrote:

I was thinking the same thing crappie.Anybody out there want to adopt an (older) child,potty trained and everything.

No kidding. $500 for each dependent child is like pennies in a bucket. But then again, we dug our own graves on that one anyways.

Since my wife and I still have our jobs, and for now they are considered essential, I am just hoping the stimulus money goes to the people that NEED it. All for helping people that need help. I don’t need it, yet, so give it to someone that does.

But, I am a realist, I know there will be corruptions and free loading jerks, that will take advantage of free money. Just like the hoarders trying to make money off toilet paper and hand sanitizer, they will use stimulus money to hoard more.

How would they decide who is struggling financially right now. Have people sign up for the money? You would be looking at months or years to see that money. So people that haven’t work in five years could sign up to get money because of a virus pandemic? If people spend it on toys that is partially the point is to help stimulate the economy. I think anyway you slice government money handout it is going help a lot of that need it and some will not be used or payed properly. Not saying this is right or wrong I just think it is not as simple as give money to people who are struggling financially. That task is not as simple as it sounds, and can be interpreted differently by each invidual.

I’m fortunate to not needing this stimulus, donating it!

pizza

Suppressors. Trump bucks can pay for my tax stamps.

Hopefully they don’t send anything, i don’t need it and don’t want to profit from anyone’s mis-fortune. I would just as soon it all goes to workers who don’t have a choice right now.

My wife and I are right on the edge to receive the full amount. We really don’t need it as we are both salary, still working, no kids, and we’ve always been frugal with our funds. Who knows what the coming months will bring, hopefully we both still have jobs. I feel for the people living paycheck to paycheck, they need it most. I remember those days and can’t imagine what they are feeling right now.

Although I would love to spend it on toys, my wife and I have already started cutting back on non-necessities and shopping at cheaper grocery stores given the uncertain times. Now is a great time to re-assess your monthly expenses.

We’ll most likely throw it in savings or invest it until we need it.

2 kids have a 529 set up, by the time they will need it, should triple by then.

“government money”? More like my money. Need it or not I would be happy to have some of it back.

Last I heard, the cost of these bills is $18,000 per person. That’s a whole lot of pork.

This reminds me of the French Queen Marie Antoinette before she had her head cut off, ‘Let them eat cake’.

CaptainMusky wrote:

We will use it to pay off any high interest debt we have remaining. Any money left over will be hidden in Folgers cans in the walls of my house.

What’s your address?

Just kidding.

A new couch. Going to need a new one after sitting in it for two months.