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Stimulus Checks
Old 03-19-2020, 08:44 AM
  #1

I am glad they are sending out checks to help people during these hards times. Food prices have went up but gas has went down. I personally do not need the money at this time but I wonder if we will pay this later in taxes.


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Old 03-19-2020, 09:04 AM
  #2

Nothing in life is free. I would die of shock if this isn't more of a loan than a gift.
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Old 03-19-2020, 09:44 AM
  #3

I agree that nothing in life is free however I do not think these checks will end up being personal loans for the recipients. Instead the US public tax system has provided this money and I am happy to have my taxes used for this purpose.
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Old 03-19-2020, 10:08 AM
  #4

Is this official? Last I heard it was only "proposed." I did read that the money would be tax free if it happened, but again, this was only when it was proposed. Have they said what the amount would be? Last I heard it was $1000, which wouldn't do much if you're a person who is out of work right now and still needs to pay bills. I'm feeling pretty fortunate to be in a profession that's still being paid right now.
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Hmmmmmm
Old 03-19-2020, 10:11 AM
  #5

I sure hope it is being done to help people and not being used as a reelection tactic.


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Thought...
Old 03-19-2020, 10:37 AM
  #6

Gas has definitely gone down. I did not find that food prices have gone up.

I was thinking today what I could do with this money. I will be fine financially, but I know there are so many needy families in our school district. If the stores and restaurants are still open, I was thinking gift cards to support businesses (especially the restaurants).

Do any of you have any other ideas?
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Old 03-19-2020, 11:01 AM
  #7

Quote:
I personally do not need the money at this time but I wonder if we will pay this later in taxes.
I'm sure we will. I don't see how they can do this without raising taxes at some future point.

Quote:
Is this official? Last I heard it was only "proposed."
Yes, they're still hammering out details. I think someone figured out that it's silly to send it to wealthy people and, at the same time, some people really need more than $1000.

Quote:
I sure hope it is being done to help people and not being used as a reelection tactic.
It's being done to stimulate the economy in the hopes that we don't go into a recession. I'm sure reelection hopes are part of it and, hopefully, it will help people.
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Old 03-19-2020, 11:15 AM
  #8

Something similar was done by the Bush administration when the housing market crashed.

I believe we had to claim it as income when filing taxes.
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Old 03-19-2020, 12:32 PM
  #9

If this goes through, I will put what will be taxed in savings and spend the rest on local businesses. Most, in my area, have moved to a drive thru service. I have been trying to support as much as I can. I went to one today and I swear they thanked me like 5 times for supporting them. Food/drinks I will purchase and others I will buy a gift card for later service. I love my local businesses and I hope they get what they need to stay afloat.
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Old 03-19-2020, 12:42 PM
  #10

I will pay it forward in my community


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Stimulus checks
Old 03-19-2020, 12:47 PM
  #11

If it comes true, I would try to help my local businesses. Particularly my cleaning crew and my hairdresser.
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Old 03-19-2020, 01:50 PM
  #12

Noonespecial, I remember it too. It was during the spring of 2008, and I used the money to pay a monster medical bill. I could be wrong, but I don't think we had to declare it as income on our 2008 tax returns.

At the same time, as Kinderkr4zy correctly points out, nothing in life is free. We're probably still paying for those 2008 checks, and if money comes through this time, taxpayers will be paying for it for many years to come.
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Old 03-19-2020, 03:02 PM
  #13

I think it's ridiculous. I don't desperately need $1000 and if I get it, I won't magically spend more than I was already planning to spend, so it's a waste of $1000 tax dollars.

On the other hand, plenty of people need far more than $1000, and there has to be a way to get it to them equitably.

ETA: I see that others are planning to use the money to support small businesses, which I guess is helpful.

Last edited by Gromit; 03-19-2020 at 03:24 PM..
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Old 03-19-2020, 03:27 PM
  #14

IMO the money should go to those who are now unemployed or in danger of losing their business. Those of us who are retired or still working donít need it. Actually Iím saving money right now by not traveling, shopping or eating out.
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Old 03-19-2020, 04:02 PM
  #15

Quote:
IMO the money should go to those who are now unemployed or in danger of losing their business. Those of us who are retired or still working donít need it. Actually Iím saving money right now by not traveling, shopping or eating out.
This is what i was thinking. Any spending I do will have to be gift cards to small businesses, but that seems less than efficient.
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Stimulus checks
Old 03-19-2020, 04:31 PM
  #16

The flaw in this program is that the expectation is everyone will spend it and kick start the economy.

What really happens (and it happened before) is that people put it in the bank to save for a rainy day.
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Old 03-19-2020, 07:19 PM
  #17

My dh just had his salary slashed. We'll be lucky if we can pay rent and buy food next month. There's no way we'll be able to pay other bills like car insurance, etc. That money would help tremendously, but only for a month or so.
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