You might get a thousand dollars stimulus package

[tinkerhon]

https://www.google.com/amp/s/www.vo.../trump-steve-mnuchin-checks-to-americans-cash

 

[pryncess527]

That's how I feel. I wish there was a way for them to only give it to those in need due to all of this. I'm a school counselor (so far still getting paid) and DH is in the military so fortunately financially not much has changed for us in terms of immediate issues. We don't need it and I feel so frustrated for those that are literally being destroyed by this. I'm really hoping they find a way to help those in need without being wasteful.

yeah, I haven’t had time to fully think it through, but it seems like the better way might be to provide financial support to businesses who agree to pay their staff the usual salaries, including avg declared tip wages, through this crisis. If the business does that, the government gives the business money. That combined with a temporary halt on rent and utilities similar to what European nations are doing might be enough to get small businesses through this.

That’s probably not gonna be as politically popular though

 

[Farro]

Cap I read is under $90,000 (single) or $175,000 household - if under that, each adult AND child receives a check - also read a $75,000 cap (single)

If the cap is $75,000 then a lot of people would be disqualified in my city, which is fine for some/most of us, but I do know people (tattoo artists, hair stylists, make-up artists) who make more than that a year but will be losing money hand over fist soon.

But, they can't help everyone I suppose.

But to play - I won't get one but if I did I sure would put it away towards my Disney trip next year!

 

[MrsCobraBubbles]

Sadly mine won't go to anything fun, just bills.

 

[AnnaS]

I will first see if one of my kids need it - I know my dd's hours have been cut in half and big possibility they will shut down.

I would also help someone else in need - have breakfast/lunch at local restaurant and leave bigger tips - things in that nature.

 

[Bianca and Bernard]

.

 

[mnrose]

I will donate it to my favorite restaurants to help them recover from this disaster not of their making. I don't need it. It seems wrong for me to spend it any other way.

 

[Kittyblue]

Use it towards our summer vacation, if we still get to go. At least it would cover the change fee for our airline tickets if we can't go.

 

[smmco]

I will spend it to help with the economy. Not sure where.

I think that’s the idea. Wether you need it or not is irrelevant. Mine will go to something travel related.

 

[Christine]

I hate caps. They *never* take into account the people in high CoL areas that, while appear to make a lot of money on paper, have such high expenses. My DD just went over that cap a few months ago. Her rent in the city is $1800 per month. There are people who earn above caps that have expenses and also don't get paid during something like this.

 

[RamblingMad]

Buy more toilet paper.

 

[smmco]

I hate caps. They *never* take into account the people in high CoL areas that, while appear to make a lot of money on paper, have such high expenses. My DD just went over that cap a few months ago. Her rent in the city is $1800 per month. There are people who earn above caps that have expenses and also don't get paid during something like this.

Yes and people with higher incomes get laid off too.

 

[morgan98]

Reading now that the proposed amount would probably be $2,000 ( or more) for every American adult and child, mailed ( or direct deposit) sent by April 1, with another $1,500 check in the summer, and another $1,000 check in the fall -

My original comment still stands. If the government thinks it is bad enough to warrant three checks into the fall, we are all in for a world of HUGE hurt. I know they are still working out details. It is still a drop in the bucket if people have no income for several months and have bills like mortgages, cars, food, utilities. Granted better than nothing, but even this money is going to eventually have to come from somewhere.

 

[smmco]

My original comment still stands. If the government thinks it is bad enough to warrant three checks into the fall, we are all in for a world of HUGE hurt. I know they are still working out details. It is still a drop in the bucket if people have no income for several months and have bills like mortgages, cars, food, utilities. Granted better than nothing, but even this money is going to eventually have to come from somewhere.

Maybe there hoping the people that don’t need it for necessities will spend it to help avoid mass layoffs. Put the money back in the economy. No it’s not going to help the unemployed, but we do have unemployment assistance.

 

[mi*vida*loca]

$1000 can feed a family for a bit. At least they can eat.

 

[sailorstitch]

My original comment still stands. If the government thinks it is bad enough to warrant three checks into the fall, we are all in for a world of HUGE hurt. I know they are still working out details. It is still a drop in the bucket if people have no income for several months and have bills like mortgages, cars, food, utilities. Granted better than nothing, but even this money is going to eventually have to come from somewhere.

That's what I want to know. Where is all this money going to come from?

 

[MrsPete]

This isn't for us old retirees is it?

They're talking about every American adult -- that'd include retirees.

Whatever you do, spend it in the US economy. It's going to need it ...

Good point. I also heard a suggestion on the news that if you're concerned about local places /don't feel free to go out, buy a gift card. It'll help them "keep going".

Money is never free ...

True. Everything that the government gives you was taken from someone. Sometimes it's taken from Future You.

 

[NotUrsula]

I find this ridiculous. It would cost MUCH less to go with having employers pay sick leave and/or severance to the folks impacted, and then pay the companies back.
Even the cost of cutting the darned checks is going to cost a fortune (and I will bet ANYTHING that just like the last time the Feds decided to send everyone a check, first they will spend quite a few million on sending everyone a letter to warn them to expect the letter with the check.) As to where it is going to come from, why, from us.

This was done once before in 2009, and we ended up having to pay it back when income taxes came due the following year, because it was technically a tax rebate. (Which is why we did not spend it at all; we banked it because we figured the IRS would expect it back.)

It will cost an obscene amount of money just to process, and not be all that helpful. I really wish that if they have to do it this way, they would send it to local hospitals to use to pay for supplies.

ETA: BTW, the highest unemployment rate in US history was 24.9%, in 1933 at the height of the Great Depression. However, it is important to note that women were mostly not counted at that time, as less than 40% of women had ever been in the paid workforce up to that point, and a great many of those worked cash-only and were thus never documented.

 

[Kathryn Merteuil]

Put it in my account to cover bills.

 

[kdonnel]

I find this ridiculous. It would cost MUCH less to go with having employers pay sick leave and/or severance to the folks impacted, and then pay the companies back.
Even the cost of cutting the darned checks is going to cost a fortune (and I will bet ANYTHING) that just like the last time the Feds decided to send everyone a check, first they will spend quite a few million on sending everyone a letter to warn them to expect the letter with the check.) As to where it is going to come from, why, from us. This was done once before in 2009, and we ended up having to pay it back when income taxes came due the following year.

There's a reason why it is being done this way even though it will cost an obscene amount of money just to process, but we can't discuss it.

My prediction is unemployment will hit 60% in the next 4 months.

We are looking at an event that will surpass the Great Depression of 1929.

Small businesses will not survive to be paid back.