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MOAR free shit!

By Eric Holder follow Eric Holder   2021 May 10, 2:50pm 207 views   7 comments   watch   nsfw   quote   share    


Gov. Gavin Newsom announced at a Monday press briefing a proposal to expand the existing stimulus program for low-income residents to middle class families, with two out of every three Californians expected to receive $600 checks from the state if passed. There's also additional stimulus for families with dependents and undocumented families.

The proposal is part of a $100 billion economy recovery package made possible by a $75 billion budget surplus.

Newsom called it the largest tax rebate ever proposed in any state in American history and said it would offer immediate relief to millions and millions of taxpayers.

Who would receive the $600 checks?

Taxpayers who make up to $75,000 a year and did not receive a first payment from the state would get $600, according to a statement from the state. The first round of checks were distributed in April to California residents with an annual incomes of $30,000 or less.

Under the expansion of the Golden State Stimulus program, families with dependents would receive an additional $500 in direct payments. Another $500 would also be made in direct payments to undocumented families.
...
The payments will total an estimated $8.1 billion, said H.D. Palmer, a spokesman for the state Department of Finance. The proposal also includes $5.2 billion to pay back rent and $2 billion for overdue utility bills for people who fell behind during the pandemic.

A law passed by voters in the 1970s requires the state to give some money back to taxpayers if the surplus hits a certain limit.


https://www.sfgate.com/bayarea/article/stimulus-checks-California-who-qualifies-Newsom-16165644.php?IPID=SFGate-HP-CP-Spotlight
1   Eric Holder   ignore (0)   2021 May 10, 2:51pm     ↓ dislike (0)   quote   flag      

So it's "tax rebate" but not to those who actually pay fucking taxes.
2   HunterTits   ignore (4)   2021 May 10, 2:53pm     ↓ dislike (0)   quote   flag      

Eric Holder says
So it's "tax rebate" but not to those who actually pay fucking taxes.


Orwell would be proud

Just him trying to save his ass in the upcoming recall with other peoples' money.
3   Rb6d   ignore (0)   2021 May 10, 2:54pm     ↓ dislike (0)   quote   flag      

Recall is coming soon, have to buy off the electorate
4   Misc   ignore (0)   2021 May 11, 10:01am     ↓ dislike (0)   quote   flag      

The tax surplus is based on fictional income in the way of capital gains.

The stock market went up because the Fed's been buying up trillions of dollars of bonds. The stock gains for the most part had nothing to do with business fundamentals.

The capital gains taxes that the government got from people "paying" taxes had nothing to do with any actual work the taxpayer did.

I see no problem taking fictional money from one group and giving it to another.
5   Patrick   ignore (1)   2021 May 11, 11:23pm     ↓ dislike (0)   quote   flag      

Misc says
The stock market went up because the Fed's been buying up trillions of dollars of bonds.


How does that follow?

Are you saying that the Fed drove down interest rates, and that in turn propped up socks?
6   Misc   ignore (0)   2021 May 12, 12:20am     ↓ dislike (0)   quote   flag      

Patrick says
Misc says
The stock market went up because the Fed's been buying up trillions of dollars of bonds.


How does that follow?

Are you saying that the Fed drove down interest rates, and that in turn propped up socks?


Yes, by buying trillions of dollars of debt securities, the investors that would normally buy those bonds were forced further out onto the risk curve. This kinda forced massive purchases of stocks, driving up the prices.
7   clambo   ignore (5)   2021 May 12, 5:00am     ↓ dislike (0)   quote   flag      

I have a problem with California taxing my capital gains.

The average brokefag doesn’t have the discipline to make saving a priority, nor the brains to invest it, nor the balls to hang on if the stock dips (like in 2008).

Actually I solved the California capital gains tax problem for myself and left the state in December 2020.

Edit/addendum:
I just did my taxes last night.
I owe California about 60% of what I owe the US Treasury.
The thing that pisses me off is I must sell some of my assets to raise cash to pay taxes which my assets produce.
The icing on the cake was California charges 20 bucks to use E-file.
I have avoided about $4000 in California taxes by departing the state.
It’s a shame, but I guess I’m just stubborn.

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