Stimulus Package...Educate me

lkapigian

Haven't paid much attention , gives me a headache ...so do you get it ( and why )

If you are still gainfully employed and the shutdown has not affected you

You don't work and are recieving welfare 

You are not working and get disability 

Or is it just going to everyone with a SS number 

Seems to me it's a Bonus for way to many 

nolaegghead

We both have jobs still and aren't eligible anyway, so haven't paid that much attention.  Hope it stops a recession 

TEXASBGE2018

Every individual making less than 99k gets $1,200 or every married couple making under 150k gets $2,400 if I understood it correctly. And kids each get $500 I think they look at who paid income taxes last year

dmchicago

We're not eligible for the 1-time payment but I'm an 1099 independent commission only sales rep.

I can't go out and prospect and close deals right now which affects my income.

My wife is working from home so she's fine. 

My understanding is independent contractors are eligible for benefits through the CARE program.

At some point, I may check into that.

lkapigian

Thanks for the quick replies , probably stimulate some wrong economy as well as OUR economy 

lkapigian

I just picture Billy Bob and Lu Lu both with their 84 OZ Big Gulps mid drift shirts and mullets , haven't worked in decades thinking Cha Ching 

ColtsFan

Yeah me nor SWMBO qualify. Sadly most will be spent on stupid sh!t.

Photo Egg

lkapigian said:

I just picture Billy Bob and Lu Lu both with their 84 OZ Big Gulps mid drift shirts and mullets , haven't worked in decades thinking Cha Ching 

It’s impossible to implement any national or state financial plan that is not taken advantage of by some that should not morally qualify.
What should happen in the near future, stop all tax deductions and incentives for children. This would save so much money down the line and taper overpopulation. But it would be political suicide for the brave sole who pushes it,

ColbyLang

Only part of it we qualified for is the Payroll Protection Plan. They cover payroll and healthcare for 10 weeks during the downturn. Gotta be a small business with under 500 employees. Caps salaried people at 100k. Basically a grant from the gov’t via SBA through your bank. We’ve already received our piece of the pie. Allows me to pay my employees working 14-20 hours a week a full 40 hour check for the next 2.5 months

lkapigian

ColbyLang said:

Only part of it we qualified for is the Payroll Protection Plan. They cover payroll and healthcare for 10 weeks during the downturn. Gotta be a small business with under 500 employees. Caps salaried people at 100k. Basically a grant from the gov’t via SBA through your bank. We’ve already received our piece of the pie. Allows me to pay my employees working 14-20 hours a week a full 40 hour check for the next 2.5 months

From my understanding on the payroll protection plan is it is a loan, not free money...Id rather float the money myself and take the right off than pay something back when this is all done...if I had to shut down altogether I would probably take it 

JohnInCarolina

Photo Egg said:

lkapigian said:

I just picture Billy Bob and Lu Lu both with their 84 OZ Big Gulps mid drift shirts and mullets , haven't worked in decades thinking Cha Ching 

It’s impossible to implement any national or state financial plan that is not taken advantage of by some that should not morally qualify.
What should happen in the near future, stop all tax deductions and incentives for children. This would save so much money down the line and taper overpopulation. But it would be political suicide for the brave sole who pushes it,

You really think there are significant numbers of people having children mostly because of the tax breaks?

nolaegghead

Sure, only costs a few bucks a day if you lock them in basement cages and feed them gruel.  Be sure to buy "DIY Dependents for Dummies" for tips.

ColbyLang

lkapigian said:

ColbyLang said:

Only part of it we qualified for is the Payroll Protection Plan. They cover payroll and healthcare for 10 weeks during the downturn. Gotta be a small business with under 500 employees. Caps salaried people at 100k. Basically a grant from the gov’t via SBA through your bank. We’ve already received our piece of the pie. Allows me to pay my employees working 14-20 hours a week a full 40 hour check for the next 2.5 months

From my understanding on the payroll protection plan is it is a loan, not free money...Id rather float the money myself and take the right off than pay something back when this is all done...if I had to shut down altogether I would probably take it 

It’s a loan that converts to a government grant after they make sure you’ve only paid your payroll and healthcare with it (last 2 weeks worth of the money can be used for rent and utilities). My CPA and commercial banker combed through the legalease. No gold chains and jet skis. 

alaskanassasin

TEXASBGE2018 said:

Every individual making less than 99k gets $1,200 or every married couple making under 150k gets $2,400 if I understood it correctly. And kids each get $500 I think they look at who paid income taxes last year

I think you get $1,200 if you made up to 75k. From 75k-99k it is reduced incrementally. 

alaskanassasin

SBA loan forgiveness sounds a lot like student loan forgiveness... and we all know how that’s going.

nolaegghead

So, turns out we did get a stimulus package.  

pgprescott

I also think that even if the loans are not turned into grants, that the interest is like 1%. If you are carrying debt at higher interest, it may be worth a look? It’s your tax dollars and they are going to be spent no matter what. There is no question that many checks will go out that are not essential but that is the nature of these sorts of things. It is more important to make sure the most people that need help are covered than it is to make sure someone who isn’t in despair doesn’t get any money. The help will be great for some and woefully inadequate for others. Good luck to all, sincerely. 

ColtsFan

nolaegghead said:

So, turns out we did get a stimulus package.  

No Hitachi Magic Wand?

#disapointed

nolaegghead

ColtsFan said:

nolaegghead said:

So, turns out we did get a stimulus package.  

No Hitachi Magic Wand?

#disapointed

#Panasonic.  Sorry to disappoint.