patrick.net

My neighbor got 1,200. He’s very thankful.

Universities got $$$ as well so they can keep mismanaging everything

That $1200 will be long forgotten, then along comes tax time 2021.

Tenpoundbass says

That $1200 will be long forgotten, then along comes tax time 2021.

Exactly. And I get $0 from it. The day the bill was signed now should be "Thank your wealthy Taxpayer Day." This legitimately angers me when I talk about it. Did my 2019 taxes and paid the Feds 40 fucking thousand dollars. I just fucking gave my entire block/neighbors what I paid in taxes. WTF???!!!?? Half are laid off and will spend that on booze, smokes and drugs because they have nothing else to do.

WookieMan says

I get $0 from it.

That's everyone here.

Will get nothing either, a friend got a salary freeze, another friend was told they will work the same hours for half pay, several I know are on furlough, a whole bunch were told retirement plan match is cut by two thirds and promised annual cost of living increases were taken back/won’t happen this year at all. Bill Gates can shove his vaccine in his dark places, the truly wealthy just keep getting bailed out while the rest of us get hosed. Even those who do get $1200 from me and Booger, and Wookie and all probably saw their net worth drop by way more than that in the past few weeks.

Booger says

That's everyone here.

same here, my consulting income conveniently put us over magical 200K. Should have worked less, I guess

WookieMan says

"Thank your wealthy Taxpayer Day."

Besides where the money is coming from now, they will remember next tax season when they realize, like we all learned from the Bush Katrina Stimulus.
It was a loan meant to be paid back next year.

I get nothing, but I’m glad that they’ll keep economy afloat.

If shit crashes we will all be fucked. I’ve lived through crashes, I rather not experience another one if I don’t have to. Yeah I know my neighbor is getting a one time check from my taxes, but we all benefit.

rd6B says

Booger says

That's everyone here.

same here, my consulting income conveniently put us over magical 200K. Should have worked less, I guess

Same, but been working 10+ hours plus getting up 5 am every day trading, basically working two jobs to gain my money back. Gotta feed everyone while keep working towards independence. Worked through the dot com bust, 2008 recession and now this. Living in CA I easily paid between 1-2MM in taxes the past 20 years for broken roads with potholes that can pop your tire and can break your axle and my money going to illegal invaders and convicted and globull warming. $1200 won't do shit anyways. Stuff it.

I haven't gotten shit yet. Where's my fucking welfare check. And add one of those goddam food stamp cards while they're at it.

What, nobody on this site got a $2 million dollar stimulus check for being a hedge fund manager?

mell says

Living in CA I easily paid between 1-2MM in taxes the past 20 years for broken roads with potholes that can pop your tire and can break your axle and my money going to illegal invaders and convicted and globull warming.

I pay only ca. 7K/year in RE taxes here, which is painful but tolerable. So, may be 100K since I've been in TX.

Misc says

What, nobody on this site got a $2 million dollar stimulus check for being a hedge fund manager?

nope, we are apparently too rich to get $1200 handout and too poor to own politicians, which is required for $2M check. Basically, we are fucked.

Ceffer says

I haven't gotten shit yet. Where's my fucking welfare check. And add one of those goddam food stamp cards while they're at it.

I had to go online and make sure the IRS had my bank info. They damn well cashed my Payment check, but lord knows they can't find my bank to get me my helicopter money!

Maybe I should use my check to distribute heroin to the downtrodden homeless. They need it so much more than I do.

I had to go online and make sure the IRS had my bank info. They damn well cashed my Payment check, but lord knows they can't find my bank to get me my helicopter money!

Everyone who did not over withhold and actually sent in a check will be in that same boat.

Eh, money is a funny thing. The 1200 and all the other stimulus isn’t coming from your taxes, we already run a deficit, all this spending is beyond that, so this is just being straight up printed.

I’m just hoping we don’t get deflation this year. That would be bad.

@wookieman I got $0 as well. On the one hand it makes me feel left out, but on the other hand I’m glad to not need it. Me and my family are all doing fine through this recession/pandemic and I am not going to jinx myself by complaining. Too many others have actual hardship. I feel the most for small business owners who had to close shop. Many of them will never reopen, and the longer this goes on, the fewer of them will be in business.
The landlords want their rent!
I just wonder who they’re going to squeeze when their tenants go out of business?

Shaman says

I got $0 as well. On the one hand it makes me feel left out, but on the other hand I’m glad to not need it. Me and my family are all doing fine through this recession/pandemic and I am not going to jinx myself by complaining. Too many others have actual hardship. I feel the most for small business owners who had to close shop.

I have the same sentiment. I don't want to see people hurting, but on the backside of this I don't want to hear people bitching about the government, when the average family of four got $3,400. Tax free.

So for those that didn't get anything, they got closer to $4,200 in our world of people paying taxes. Our government handed out 10% of the median family income in one month to many people. I enjoy the occasional party, beer or joint, but my fear is with idle time and OPM, people are just going to waste it on bullshit. When the economy opens back up it will have all been pissed away. It won't help the business owner that didn't go under, making it all the more likely they will.

It's a damned if do, damned if you don't situation I guess. I just hope people come out a bit more appreciative of the people that bailed their asses out. $200k ain't a lot of money today especially for you coastal boys.

$200k ain't a lot of money today especially for you coastal boys.

Seriously? A family making $200k per year lives quite well anywhere in the US outside of places like the Hamptons, SF, or LA. In fact, the medium income per capita in California is only around $35k (72k per household). Even in California, a $250k household income will put you in the top 5%. Nationwide, a household income of about $166k puts you in the top 5%, and those households are usually dual income. These figures are from 2017, the latest data available from the Census ACS survey.

HeadSet says

Seriously? A family making $200k per year lives quite well anywhere in the US outside of places like the Hamptons, SF, or LA.

Didn't say they don't live well. It's just that most the time they're in a high COLA area to make that kind of money. It's all relative. Sure you could make $200k and live in the ghetto for $1/mo for a shit apartment and be a millionaire in no time. Most people making $200k+ are spending $3-4K on PITI for a home or rent. AND they pay federal taxes unlike probably 50% of people that got stimulus checks.

I guess my point was that 90% of Americans live within the same ratio of income to cost of living. So the guy making $35k has as much expenses as the guy making $101k and gets nothing from the stimulus. Not sure if that makes sense, but it's what I'm trying to get at. Basically the people that earn high incomes, actually pay federal taxes, could be hurting just as much, but get nothing.

And yes, expenses are a choice. You could live as cheap as the guy making $35k. Not how it usually works though.

HeadSet says

$200k ain't a lot of money today especially for you coastal boys.

Seriously? A family making $200k per year lives quite well anywhere in the US outside of places like the Hamptons, SF, or LA. In fact, the medium income per capita in California is only around $35k (72k per household). Even in California, a $250k household income will put you in the top 5%. Nationwide, a household income of about $166k puts you in the top 5%, and those households are usually dual income. These figures are from 2017, the latest data available from the Census ACS survey.

They pay the majority of the taxes for everyone else though. They are the ones taken to the cleaners regularly as they pay most of the tax burden percentage wise to income and never get anything back. It guarantees minimum vertical mobility, protects the wealthy and ensures that with any sort of bad luck or sever recession plenty of those 200k earners fall back into the lower middle-class, esp. if they have a family to feed and become government dependent like everyone else. Flat tax for everyone (with exceptions for the uber-wealthy who have to help out when there's a budget shortfall, but only temporarily - then revert them back to flat tax as well), then we can talk. Same handouts and credits for everyone, not this shit with above and below 100k/200k etc. class division, fucking over the productive upper middle class.

I can definitely confirm the taxes... pay high state taxes as well as federal taxes. Since we are dual income we wind up owing every year despite taking only 1 withholding. After all the taxes have been paid, the bills paid, food bought for five people, education and childcare expenses, mortgage paid, and maintenance done, there’s not as much left for entertainment as you’d expect. We haven’t been on a big vacation in years.

mell says

fucking over the productive upper middle class.

This is the most important part of your comment (not that the other parts were wrong). This is really what I should have typed in my original comment. The super wealthy do pay a lot in taxes, but they also have strategies to evade taxes to some extent as a percentage of income. But they actually pay something at least, and I'd agree they should pay a touch more.

I have friends and acquaintances that constantly bitch about the government. They want free shit and feel like they're oppressed, yet don't have skin in the game. What they don't understand is that someone, somewhere has to pay for that tax free cash you just got. The $150k-$300k people truly are the one's oppressed.

On about $205k AGI I paid in taxes 2-3x what the average persons mortgage/rent is in federal taxes. That doesn't include state income, property, sales tax and a bunch of other fees. Then there's FICA. Health insurance And because we're responsible we max out 401k's and Roths.

Do the math on all that and let me know if I'm living an extravagant life with that income? NOPE, just paying a bunch of other fucking people to fucking loaf it through life. Hence why I'm pissed we're not opened up. At least make some of these fuckers work.

Right now, in the second quarter, the bottom 25% of working people WHO WERE LAID OFF are making MORE MONEY than they’ll make during any other quarter of the year. Thanks to the $600 Federal unemployment weekly bonus, that’s more than a minimum wage earner makes on the regular.

Shaman says

we wind up owing every year despite taking only 1 withholding

Well, that's your problem right there! :-) I do no deductions, and, by around October, I schedule extra withholding so that my paycheck comes out about $0. Funny story from years back: I goofed in the withholding and so was receiving a paycheck literally in the single digits, so I put the paycheck stubs on my cube wall for all to see!

logic says

And they won't save a dime of it.

Or pay off debt.

They'll consider it a windfall. Since they can't go anywhere, the liquor stores, pot shops, and illicit substance dealers businesses will boom.

The $2,000,000,000,000 "stimulus" would cost every man woman and child $6,000. But most of them aren't paying taxes.