This stimulus is a joke.

I take 'fortunate' to mean entitled. That dismisses anyone who has worked their butt off to afford a better life.

Here's an example:

Physicians work exceptionally hard to become physicians. They take out an enormous amount of debt to become physicians. On average, that debt is $200,000.

Most physicians make > 100k.

They also are taxed higher, pay 6-7% interest on their loan debt, pay exceptional amounts in malpractice insurance to prevent the 'majority' from suing for a paycheck, and do not qualify for the stimulus.

As a previous poster mentioned, the stimulus checks are meant to "stimulate" the economy, not support your month-to-month.

If you're going so far as to include the 93%, why not the extra 7%?

stimu-this wrote:

I take 'fortunate' to mean entitled. That dismisses anyone who has worked their butt off to afford a better life.

Here's an example:

Physicians work exceptionally hard to become physicians. They take out an enormous amount of debt to become physicians. On average, that debt is $200,000.

Most physicians make > 100k.

They also are taxed higher, pay 6-7% interest on their loan debt, pay exceptional amounts in malpractice insurance to prevent the 'majority' from suing for a paycheck, and do not qualify for the stimulus.

As a previous poster mentioned, the stimulus checks are meant to "stimulate" the economy, not support your month-to-month.

If you're going so far as to include the 93%, why not the extra 7%?

Why on Earth would they be paying 6-7% interest on their student loan now.

That's the standard federal government unsubsidized loan rate. If you're not making a considerable amount, it keeps you qualified for IBR programs. Whereas if you refinance with a private lender (best rates currently are still 4-5%), you are forced to pay more regardless of how much you're generating.

Here's a solution. Lock it down for 6 weeks. Eradicate the virus. $1200 per week for 6 weeks for everyone. No exceptions. People making 100k in SF need the money too.

Total cost for 330 million in the US. is just 2.4 trillion dollars. Not much more than the current ineffective stimulus. $1200 per person for 6 weeks would really fire up the economy.

lousy 1200 dollars wrote:

Here's a solution. Lock it down for 6 weeks. Eradicate the virus. $1200 per week for 6 weeks for everyone. No exceptions. People making 100k in SF need the money too.

Total cost for 330 million in the US. is just 2.4 trillion dollars. Not much more than the current ineffective stimulus. $1200 per person for 6 weeks would really fire up the economy.

this. "bailing" out companies that have so much extra money for golden parachutes and mega bonuses, or supporting the people who make and buy most of their products? easy answer to me. After that 6 weeks the world will see just how little you need to give to these businesses in order for them to stay profitable. The only pain they will feel is all the extra perks that they have been giving themselves for decades.

The sheer ignorance and polarization of our country is the result of our ridiculous partisanship. We now live in a country where there are 2 co-existing yet totally disparate versions of "reality" happening at all times, and it's so vitriolic it feels like nobody can actually have a civil conversation, or ask a serious question, or admit to having been wrong about anything ever. So yeah...partisanship sucks.

Well, it's a kind of bait and switch game, anyway.

They make a huge deal about the Trillion dollar thing, and Trump wants you to feel apperciative and impressed with his bizarre huge signature (but not on direct deposit!) on checks.

A tease, a grand or more for poor folks like me, a month at most of bills paid. Then they pull the purse back away from you. One-off!! Jokes on you. Get back to your oars and keep at the impissible task of living on a fixed income in an inflated economy!

A tease, a vanity trick. Trillions!! Yeah, for how many people and for how long? Well Im sending mine to an assisted living program where some folks have it worse than I.

Eat the risk, thank you for your post and for having common sense. My wife and I discussed this thread yesterday and you touched on everything we were thinking.

I'd also like to add that unemployment is not $600/week, but an additional $600/week on top of the standard unemployment amount you'd get in standard times. I'm sure a $100k/year or higher income will not be covered by the combination of these two unemployment payments, but those who make $100k+ and have lost their jobs will not be empty-handed. In short, everyone is getting a little help and/or able to sufficiently sustain their well-being sans assistance during this trying time. This entire health crisis and its economic impact sucks for the vast majority of people, not just a select few.

There is a whole lot of ignorance in this thread. The focal point of a society should always be the welfare of the society, with everything else being secondary.

The European model understands this. It’s called pay more to pay less. This is why in Europe they have higher taxes, and the cost for luxury items are slightly higher, but healthcare is free ( or close to it), schooling is inexpensive, renting is very inexpensive, and the population is fully supported by the government during war, pandemic, or natural disasters. No citizen is left out and everyone gets to eat. As a citizen you make out on the bottom line.

In America it’s quite the opposite, taxes are lower, and luxury items are lower, but you get financially killed when it comes to healthcare and education, and you get zero support from the government when there is hardship or economical despair. In America, you can lose everything literally overnight. The model in America is to pay less only to pay more later. So don’t get sick or injured, and your student loan debt is with you until death.

Also Europeans don’t rest on a bed of greed. Example a pair of Levi’s are expensive in a euro country, say like close to 100.00 compared Ron costing maybe 50.00 bucks here. A euro may buy 1 or 2 pairs, because that is all he can afford, where an American will horde because it is cheap, but when it comes time to pay for education or medical, they are broke and screwed.

Euro: Welfare, the people first, luxury second

America : business and luxury first, welfare a distant second.

Wow, what an incredible model those Europeans have! If it only it were actually effective.

Fun fact, America's lowest 20% is wealthier than Europe's lower 50% :

As for the one time $1200, it isn't for individuals, it's for small businesses and some creditors. The government knows people will go out and spend it on dumb sh!t because that's what the American consumer does best. A few people might need it to stay liquid for a month... so they can use the rest of their discretionary income to buy stupid sh!t.

And speaking of small businesses! I see no one has mentioned the fact that $350 billion will go to federally backed loans managed by the Small Business Administration, where qualifying businesses can apply for loans to cover payroll and other operational costs almost for free if they promise not to fire any employees

With the European model, there is no unemployment. Business are being paid to pay workers, so they don’t have to be furloughed. It’s a hit upfront , but will cost less in the end. It’s going to cost america even more in the end , because a lot of companies will fall, and it will cost to rehire the 3.3 million unemployed workers.

You’re proving my point!

You’re talking about individual wealth compared to Europeans, when Europeans have cheaper welfare so they don’t need that type of wealth!

So Americans being wealthier on paper means nothing when they are paying out of their arse in welfare ( health, education, etc).

Americans pay less taxes so they have more wealth numerically because of it, but again all of it gets killed o the bottom line.

Baby makers wrote:

My sister and her husband make in the ball park of $90k-$100k, with two kids. They aren't at risk of losing their jobs, because one is paid for by taxes and the other, nurse, is not going anywhere. They are receiving a $3400 check from this, and haven't been hurt financially at all. Meanwhile, like you said, a single person making $100k gets nothing, even though they may have been laid off. Yes they can get unemployment insurance, but that would happen anyway.

Not that I'm affected by this in any way *ahem*, but us college students who are paying our own way also get nothing under this deal, assuming we filed as dependents for 2018. My parents are both retired, living off social security. I filed with them that year to make sure their healthcare was cheaper (I pay for my own healthcare anyways).

There may be a way for someone like me to wait a year and use my 2020 filing, but it's absurd.

Giles Corey wrote:

If you own a big business, you get billions

And well you should as 5,000 people work in your company. As President Lincoln once said: " I never got a job from a poor man."

Not to worry. You'll all be paying it back with increased federal and state income taxes for the next decade.

That’s right Americans poorest are rich in consuming. They can all afford tv’s cell phones, but can’t afford health insurance, or buy a home. They don’t get 6 weeks of vacation a year either.