chamberc wrote: Mon Apr 13, 2020 3:23 pm
longtooth wrote: Sat Apr 11, 2020 6:14 pm
I have been thinking about what to do with the stimulus check we are supposed to get. For sure I won't spend it til I get it in hand.
I hope everyone spends theirs local and in the small businesses of your county or the State of Texas.
First I will pay the tax on it.
After that I am buying 2 holsters. Both from Tucker Gun Leather. Both I really need.
Then I am buying a pair of shoes from a local Lufkin small business owner that I am friends with. I don't really NEED another pair right now but will have it when I need them and he will need the $$s for sure.
Then I am buying 2 Belts. One each from 2 young guys that have started leather work shop here in Angelina County.
If this goes over whatever I get I will still make up the rest.
These things will be my reminder of what our God has brought us through.
If I have some left over I will find a local place to spend it.
How bout you. Any plans on arms or gear???
Many of us won't get one, which basically means they're taking money from us and giving it to everyone who is getting one.
Many of the folks getting a check paid taxes themselves. Me, for instance. So in my case, they are not sending me your money, they are giving me some of mine back. Somehow it does not feel like a windfall. The 100K income cut off seems a bit arbitrary. Considering the tax rate is the same at 95K as 100K and quite frankly, a 5K a year increase in salary at an 95K level does not make one wealthy.
I decided o look it up and found this
United States residents who have Social Security numbers with income of up to $75,000 will receive payments of $1,200. For every $100 you earn above that threshold your payment shrinks by $5. Someone making $85,000, for example, will take home $700. The payments phase out entirely at an income of $99,000. You can use the Washington Post’s online calculator to see how large your payment will be.
So I guess it is not completely arbitrary as it phases down above 75K. Still seems odd. If zero income can receive it, there should not be an upper limit to receive it.A person making 200K a year could just as easily be out of work from this as a person making 70. Truthfully, the lowest income jobs are less likely to be unemployed right now and could be making double their normal hourly rate so they show up at work.