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If we all get checks for $1200 is the site going to be filled with NGD

Discussion in 'Sidewinders Bar & Grille' started by apm1991, Mar 25, 2020.

  1. CB91710

    CB91710 This is a Custom Title Gold Member Strat-Talk Supporter

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    Yes and no....
    This is not a "gift"... it will be taxable.
    Effectively, the standard deduction next year will be cut by $1200 (or $2400)

    However, given that it cuts off at 75k for single, 150k for joint (plus extra for kids), even at the top marginal rate, it's not going to make more than a $150 to $400 difference next April.
     
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  2. jbylake

    jbylake Regular Dude Strat-Talk Supporter

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    Yeah, I get that. I'm still paying the bills so money is going into circulation from my home. Saving money is my back-up if this crazy virus crap gets worse,. and I hate to sound like "debby downer" but I believe it will.
     
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  3. Kayden33

    Kayden33 Strat-O-Master

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    updated my bathrooms with bidets last year and I love it. Screw the toilet paper method lol. I’m clean as a whistle lol. Plus it feels great later after those spicy foods lol.
     
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  4. 3bolt79

    3bolt79 Most Honored Senior Member

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    I just got a new guitar, and it’s only half paid for. I still owe AMS 600 bucks on it. So no new guitars for me until that one is paid off. I also just ordered prescriptions for the next three months. But these would have been paid off in a couple of months regardless. But I might order a half ton of butt wipe.
     
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  5. CB91710

    CB91710 This is a Custom Title Gold Member Strat-Talk Supporter

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    I'm with you.
    Honestly, mine will stay in the bank until everything at work is stabilized. The uncertainty is the most stressful part of this whole mess. I'm certainly not going to blow it on a guitar if I'm going to need it to keep the lights on in a couple of months.
    I was out of work for 9 months in 2009, when I got my current job, I had enough left in the bank for one more mortgage payment.
     
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  6. Kayden33

    Kayden33 Strat-O-Master

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    The cap is $90,000 a year and reduction at $75,000. For every $100 over $75,000 then $5 will be subtracted from the $1200 for every $100 over.

    And no incorrect , more than 1/2 of households will be receiving. Most households fit below the amount. So yes it’s ok to make plans as long as everything rolls out as planned.


    * Under the draft bill, single Americans would receive $1,200, married couples would get $2,400, and parents would see $500 for each child under age 17.
    However, the payments would start to phase out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 would not qualify at all. The thresholds are doubled for couples.
    About 90% of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center. Lawmakers set aside $250 billion for the so-called recovery rebates.
     
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  7. LordOfPudding

    LordOfPudding Strat-Talker

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    I am old enough to remember when GWB gave us all "free" money a while back.
    It ended up costing me money.
    I don't expect this to be any different.
    I'm with CB on this one.

    "Those who can not remember the past are condemned to repeat it"
     
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  8. Hugh

    Hugh Got Punch ? Strat-Talk Supporter

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    Thus the nominal fee :)
     
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  9. CigBurn

    CigBurn Dr. Stratster Strat-Talk Supporter

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    I don't particularly need it but, there is a youth center here that is providing meals to kids in the area that need it.
     
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  10. longboard blues

    longboard blues Strat-O-Master

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    Yep

    Yeah...nah. Hairdressers? :D
     
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  11. tery

    tery Most Honored Senior Member Strat-Talk Supporter

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    We have to pay it back right ? … we should :)
     
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  12. Boubou

    Boubou Strat-Talker

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    You will, and more
     
  13. Bodean

    Bodean Just A Simple Man Strat-Talk Supporter

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    Nothing from the guv is free.
    Well some BS is.
     
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  14. Lone Woof

    Lone Woof Senior Stratmaster

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    First thought was "Yes! I'll get that 57 Champ Custom reissue amp I want!"

    Second thought was "Maybe I should just hold onto the money because I'm not 100% certain I'll still have a job by the time this is over."

    Third thought is still held up in processing.
     
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  15. jim293

    jim293 Strat-O-Master

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    I will probably just save mine. I do however have my eye on a new fishing pole. So perhaps a little of it will go toward that.
     
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  16. dirocyn

    dirocyn Senior Stratmaster

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    If I get anything I'm putting it towards my tax bill. Those "tax cuts" a couple years ago increased the amount I have to send the IRS by about $2000.
     
  17. 57Strat777

    57Strat777 Strat-Talker

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    I am not sure how the govt sending me $1200 is supposed to help when they shut down all the strip clubs. :p
     
  18. Lonn

    Lonn Mod Admin Staff Member Strat-Talk Supporter

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    Admin Post
    I have a telephone Dr appt at 1145 where I'm 99% sure I'm going to get told to self quarantine for 14 days. Also, my HR person from work just called to check on me. I was coughing at work yesterday and one of my 3 coworkers called HR about it. Can't say I blame her, every time I coughed I felt eyes burning a hole in me. My stimulus check will cover the 2 weeks off. Yay.
     
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  19. 57Strat777

    57Strat777 Strat-Talker

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    You went to work with a severe cough????

    Best of luck with your doctor appointment. It doesn't sound good.
     
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  20. Lonn

    Lonn Mod Admin Staff Member Strat-Talk Supporter

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    Never said I had a SEVERE cough. Actually I felt fine on the way to work and the cough as well as a pretty good back ache came on during the day. As soon as I got home I made the Dr appt.
     
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