Second US Stimulus Check

Not sure where to put this.

Looks like Americans may get a 2nd stimulus. Still nothing concrete, I think unemployment benefits will likely be extended. Not sure if we will get another check.

2 Likes

:roll_eyes:

1 Like

If the U.S. is gonna go down the road of 6-15% inflation, this will sure speed things along even more.

White House chief economic adviser Larry Kudlow indicated the Trump Administration may consider backing a “back to work bonus” as opposed to extending the $600 weekly unemployment benefit bonus currently in place as part of the CARES Act. The $600 weekly unemployment benefits are in addition to state unemployment benefits.

I like this idea.

I also think lowering payroll taxes is a good idea, it was something I really liked when Obama did it to help stimulate the economy.

How about get rid of tax hit on withdrawals from 401k/IRAs, and then offer upfront stimulus checks to those who do not have brokerage accounts (ie., low-income people)? If the U.S. doesn’t care about budget problems, then go hog-wild on getting people to spend spend spend. Get rid of that tax hit for like a 2-year period.

2 Likes

Cutting the payroll tax does little to the debt though unless the way high upper regions of the income bracket are simultaneously taxed higher. One without the other is kind of pointless…debt wise.

It puts money into the hands of middle class and poverty line working people yes, but when Obama took it back, people were not happy.

1 Like

I think they did something about that a couple of months ago, when the average withdrawal was about 6k.

1 Like

I believe you are correct. :+1:
(I don’t have any, as my income been all from Taiwan, post-university years).

Yeah, that sucks. I’d have been way farther ahead (ten years at least) in my IRAs if they allowed foreign earned income to be allowed.

Universal basic income is the way to go. Even most conservative economist agree. Milton Freedman is actually in favor, and I don’t agree with him on many things. Well, he was, obviously he’s dead now

South Korea and Canada are thinking about it. Canada’s response was to give everyone a basic income temporarily. They are considering making it permanent

2 Likes

I have no problem with capping it at that level or thereabouts, and I’m above that by a fair shake.

1 Like

I think it should be larger if someone has dependents like kids. Idk if that’s factored in. Kids are expensive.

1 Like

There are still lots of manufacturing jobs in my area. They cant find enough people willing to take an entry level position for $15 an hour.
I know thats not the case for everywhere and everyone but I say again we can’t have a country whose economy hinges on service industry jobs.
the good news is we have unlimited overtime available. im set to work 70-80 hours this week. It back breaking,hot and hard (hee hee hee) but who knows what will happen in the near future.

I think another round of stimulus checks this close to the election is a bad idea. It looks too much like vote-buying.

1 Like

It looks like it’s going to happen.

I feel it won’t be less than last time. Precisely because of this:

1 Like

And it’s just a bad idea in general. As if the currency wasn’t debased enough already. Good if you’re holding Taiwan dollars though.

2 Likes

HEALS Act

Not sure if expats are included. But I don’t see any wording of exclusion.