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I made well into the 6 figures last year and I still got over $1600 (I have kids). Doesn't seem right, I don't need that money. In my opinion those with higher
by y-c-o-m-b 6y ago
I made well into the 6 figures last year and I still got over $1600 (I have kids). Doesn't seem right, I don't need that money. In my opinion those with higher incomes shouldn't be getting checks, but I know there's always edge cases where that could really hurt somebody financially.
EDIT: For comparison, my sibling is single and makes less than 50k a year and got about $1200. That's awful.
- jakelazaroff 6y agoSeems to me that the simplest solution is to give everyone the money, no questions asked, and then tax it away later. That way you naturally claw it back from people who don’t need it, because it boosts their income even higher. I agree that people with six figure salaries likely don’t need the money, but it feels more unfair for a few executives to make millions than for the 2% to get a check for a couple thousand dollars.
- imtringued 6y agoOr you could give everyone a loan and forgive it for those who default.
- sumedh 6y agoWhich creates a moral hazard, why should the honest person pay back the loan next time during a similar crisis?
- sremani 6y agoWe are in a situation where pretty much every job in on the chopping block. I want them to give money to every one, but if you have earned lets say 150K in 2020, this amount is fully clawed back next year tax season.
- exclusiv 6y agoThe stimulus funds are to be reported but not taxed. https://www.businessinsider.com/personal-finance/are-coronavirus-stimulus-checks-taxed https://www.businessinsider.com/personal-finance/are-coronav...