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Biden Stimulus Plan

They don't do nothing. They do something. But they are only a short term solution. In a case where people can't work because of a plague, it is about the only option available because tax cuts don't help people who are being prevented from having an income.
I agree but I think @thewop was trying to say is that he supports more targeted stimulus. Giving payments to those who have been impacted.

In theory I agree, but it may be difficult to figure out how to do that unless you just give it to people who are currently on unemployment. However, small business owners may not be on unemployment. And some people are still working but have reduced hours.
 
I agree but I think @thewop was trying to say is that he supports more targeted stimulus. Giving payments to those who have been impacted.

In theory I agree, but it may be difficult to figure out how to do that unless you just give it to people who are currently on unemployment. However, small business owners may not be on unemployment. And some people are still working but have reduced hours.

Fair enough. On the surface the targeted approach sounds like a better plan. I don't know enough about the details to know all of the negatives to it to really have an opinion though.
 
Man think of the budget after that
I'm thinking the extra $$$ in future budgets can encourage conservatives to finish high school and intermingle with society so that they can marry outside of their immediate family. That may be asking too much?
 
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It's not even the 20th, Trump has run up a record deficit and our resident cons are concerned about spending again.
That is because they belong to the "Party of No" as in "The Party of No Phuquin Ideas".....(but boy, can we complain and nit-pick......)...Stop Abortion!! Bring God back into Schools!....Bring back the gold standard!
 
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That is because they belong to the "Party of No" as in "The Party of No Phuquin Ideas".....(but boy, can we complain and nit-pick......)...Stop Abortion!! Bring God back into Schools!....Bring back the gold standard!

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Do you guys think this child tax credit would be available immediately or we would have to wait until 2022 for it?
 
It would be for the tax return you file in 2022 (tax year 2021). And it would only be increased for one year and go back to the normal amount after that.
 
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It would be for the tax return you file in 2022 (tax year 2021). And it would only be increased for one year and go back to the normal amount after that.
Do you by chance have the actual text of this plan? I’ve been looking but all I get are news stories highlighting it
 
Markets aren't impressed early. It's either that, or early Friday profit taking. Media thinks it's the former.

I'm probably going to retire this year, so it won't affect me too much.
 
It did, but not as good as your mom made me feel when she serviced my taint. Also within the context of the post it's pretty obvious what the point being made was.
The point is, I don’t like excessive government debt and haven’t for the past 40+ years. I don’t care which party does it. But you just keep on being you. :rolleyes:
 
You can send yours back to the government, isn't that the republican mantra about dems who want higher taxes. You know ,well you can send your refund back to the government if you like high taxes. I'll keep my money.
I gave the first stimulus money away. I didn’t get the second. Nice try, though. Swing and a miss on your part.
 
I found this. It also makes 17 year olds qualified. Normally, you lose the credit in the year your child turns 17. I actually have one turning 17 this year so that works for me.

 
I try and stay out of the day-to-day bullshit, but I noticed the national unemployment rate is at 6.7%. Why are we giving money out to people who have jobs? Personally, we have saved money staying home and not eating out as much during COVID. What am I missing?
 
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Why are we giving money out to people who have jobs? What am I missing?

Agree totally,.. They should take the $1400 per head money, put it all in a pile, and then distribute that to those who really need it,.. I suspect the average payout could then be upwards of $4000 per person, and those would be people who really need the money...
 
I get the argument that the money should be more “targeted”- but I haven’t seen anyone come up with a way to accomplish that.
As I’ve said in other threads- I could for sure use the extra money.
 
HOW IS THAT POSSIBLE?

Four of us plus a dog in ~3,500 sq ft and I feel like we're on top of each other constantly.
we got 2 adults, 5 kids and 4 cats in about 1800 SF, 3 bed 3 bath. The 3 older girls use the finished basement as their bedroom, it is split level so much bigger than a normal bedroom but not a whole basement--no bath/shower down there. My 2 kids are with their mom sometimes. It's a solid house in a nice suburban neighborhood (WDM). Honestly we chose this when we got married rather than going with a 350k house that still wouldnt have 6 bedrooms. Not a lot of options in between $250k and $350k a few years ago.
 
Agree totally,.. They should take the $1400 per head money, put it all in a pile, and then distribute that to those who really need it,.. I suspect the average payout could then be upwards of $4000 per person.

Those are my exact thoughts. Help the people in need. The majority of my employed friends who got the stimulus spent it on something completely unnecessary. This money should be for essentials and helping families in need to make it through the pandemic. It's should not be spent on a new Xbox.

I also know the initial intent of the stimulus was to make sure people kept spending money to keep the economy going. The problem is the businesses that actually need the money right now (hotels, airlines, restaurants) can’t really receive it because nobody is traveling or going out. It's all going to Amazon and Jeff Bezos continues to get richer.
 
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Those are my exact thoughts. Help the people in need. The majority of my employed friends who got the stimulus spent it on something completely unnecessary. This money should be for essentials and helping families in need to make it through the pandemic. It's should not be spent on a new Xbox.

I also know the initial intent of the stimulus was to make sure people kept spending money to keep the economy going. The problem is the businesses that actually need the money right now (hotels, airlines, restaurants) can’t really receive it because nobody is traveling or going out. It's all going to Amazon and Jeff Bezos continues to get richer.

That's more of a success in theory, not in reality, idea.

The few problems include how to you determine who is in need? The goal is to get the money to people quickly. If you create some new govenrment office to determine eligabiilty that will take forever. Then even though someone might be OK doesn't mean they aren't in need or could use the money. People have seen all sorts of habits and bills change during this thing so its not just the people who work in the service industry who have been out of job for 10 months who can use the money.

There are always going to be abuses on any system when you get more than 10 people or so involved.

While in theory what you say is 100 percent, in reality its crazy hard to pull off
 
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Those are my exact thoughts. Help the people in need. The majority of my employed friends who got the stimulus spent it on something completely unnecessary. This money should be for essentials and helping families in need to make it through the pandemic. It's should not be spent on a new Xbox.

I also know the initial intent of the stimulus was to make sure people kept spending money to keep the economy going. The problem is the businesses that actually need the money right now (hotels, airlines, restaurants) can’t really receive it because nobody is traveling or going out. It's all going to Amazon and Jeff Bezos continues to get richer.

Actually, middle class isn’t even spending the money. They are saving it. Americans are saving money at record amounts right now. Sounds good on the surface, but actually has the potential to be very problematic in the near and distant future.
 
That's more of a success in theory, not in reality, idea.

The few problems include how to you determine who is in need? The goal is to get the money to people quickly. If you create some new govenrment office to determine eligabiilty that will take forever. Then even though someone might be OK doesn't mean they aren't in need or could use the money. People have seen all sorts of habits and bills change during this thing so its not just the people who work in the service industry who have been out of job for 10 months who can use the money.

There are always going to be abuses on any system when you get more than 10 people or so involved.

While in theory what you say is 100 percent, in reality its crazy hard to pull off

That makes sense. I understand when you're dealing with millions of people you are never going to get it 100% right. I just look at the inflation graph and the purchasing power of a dollar, and I just don't see how this plan is going to help our long-term outlook for the poor and middle class.

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U.S.%2BDollar%2BPurchasing%2BPower.jpg


Obviously, we have been trending this way for decades, but it sure seems like these stimulus packages going out to so many people who don't actually need it are only going to make it tougher for the people living paycheck to paycheck to get ahead and afford valuable assets like a home.
 
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There will be a lot of financially responsible Repubbers stepping forward in about 6 more days...bank on it.,
The hilarious part is we say what they are going to do, from time to time, and the STILL do it. It's all very predictable. There's no self awareness with them.
 
That other $600 is being rerouted to "minority communities."

Here is a Breitbart explanation:

"The best explanation is that the incoming Biden administration needs to tailor its aid package so that a substantial portion of the spending goes to special interests, including "minority communities." Direct payments that just go out to everyone who earns below a certain amount do not target Democratic voting coalitions sufficiently. So the Biden stimulus proposal might have sought to limit direct payments in order to ensure that a sufficient share of the overall spending went to places the government directed it to, instead of leaving it in the hands of U.S. consumers. Sure enough, Reuters is reporting that a "significant portion of the additional financial resources will be dedicated to minority communities."

.............

In any event, the full $2000 that President Trump called for (and then some) is getting spent ... just a little differently.

I guess people voted this way, although I am not sure they fully understood this at the time.
 
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That makes sense. I understand when you're dealing with millions of people you are never going to get it 100% right. I just look at the inflation graph and the purchasing power of a dollar, and I just don't see how this plan is going to help our long-term outlook for the poor and middle class.

a6jyrvyz3y7y.png


U.S.%2BDollar%2BPurchasing%2BPower.jpg


Obviously, we have been trending this way for decades but it sure seems like these stimulus packages are only going to make it tougher for the people living paycheck to paycheck to get ahead and afford valuable assets like a home.
Those could be two of the dumbest charts i’ve ever seen for a economic argument.
 
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