Quote (thundercock @ Mar 27 2020 08:56pm)

Money isn't my primary motivator anymore because once you reach a certain threshold it doesn't matter. If my salary doubled it would just go into the various investment buckets I have and I wouldn't really consume it. I think I would need a seven figure income (including investments) for me to really change my life style but I'd probably blow it all anyway on various startup ideas.

IMO, jollies are the most important currency there is. At some point, money doesn't increase your jollies as much.

Quote (Skinned @ Mar 30 2020 10:03am)

Word is that Trump wants no congressional oversight of the funds being spent, which is insane in an administration as corrupt as this. Is Trump going to nominate Blagojevic to spend this money now or what?




People with money have a higher marginal propensity to save (mps) rather than consume (mpc). Ive gone over this ad nauseum here whenever people repeat the lie that tax cuts lead to economic growth and trickle down wealth. People here should know better by now. If not then they are learning disabled.

The argument for tax cuts is a moral one, not a consequential or economic one.

Quote

Nearly every empirical study of taxes and economic growth published in a peer reviewed academic journal finds that tax increases harm economic growth. In my review, I examine twenty-six such studies going back to 1983, as shown in Table 1. All but three of those studies, and every study in the last fifteen years, find a negative effect of taxes on growth. The table shows summaries of each study’s findings, but the most recent and influential studies will be discussed here in more detail.

Particularly, they find that a tax increase of 1 percent of GDP lowers real GDP by about 3 percent after about two years. The largest effect is from tax changes meant to promote economic growth, and the main channel is investment.

Quote (ofthevoid @ Mar 30 2020 01:29pm)

You keep repeating this as if this is the only economic concept applicable and impacting economic growth. Sophomore-esque really, taxes don't only impact MPS and MPC, they certainly do but this is just part of the mosaic of what the effects of taxes are.



https://taxfoundation.org/what-evidence-taxes-and-growth/

Quote (ofthevoid @ Mar 30 2020 10:29am)

You keep repeating this as if this is the only economic concept applicable and impacting economic growth. Sophomore-esque really, taxes don't only impact MPS and MPC, they certainly do but this is just part of the mosaic of what the effects of taxes are.



https://taxfoundation.org/what-evidence-taxes-and-growth/

Quote

The IRS will begin electronic payments on April 9

According to an internal document reviewed by The Washington Post, the IRS plans to begin generating electronic payments on April 9 for taxpayers who have filed a 2018 or 2019 tax return and qualify for a stimulus check. Dependents older than 16, people without a Social Security number, and those with incomes above $99,000 (or $136,500 if you file as a head of household) will not be getting a stimulus check.
Up to 70 million people will be paid by April 15

Patricia McLaughlin, a spokeswoman for the Treasury, told The Post that 50 million to 70 million people would have their payments deposited by April 15.

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, stipulates that stimulus payments will also go to Americans on Social Security retirement and disability benefits, even if they haven't filed a recent tax return.

"Social Security recipients who are not typically required to file a tax return do not need to take an action and will receive their payment directly to their bank account," Mnuchin said in a release.

The payments will be for the maximum amount — $1,200 — and paid by deposit or mailing information reported on tax forms SSA-1099 for Social Security recipients and RRB-1099 for people who retired from railroad service.
Paper checks will start going out April 24

For those who have not filed a tax return in the past two years or do not have direct-deposit information on file with the IRS, the agency said it would give taxpayers the opportunity to submit this information online before sending out paper checks.

"In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail," the IRS wrote on its website.

TurboTax has launched a free portal of its own for those who want to submit direct-deposit details to the IRS.

If you don't submit your direct-deposit details, the payment will be sent as a paper check to your last known address. The IRS will begin issuing these checks on April 24, according to The Post's report, and prioritize low-income Americans.

Checks for people with an adjusted gross income (AGI) of $10,000 or less will be sent out around April 24.
The last group of people to get paid should be issued paper checks by September 11

From there, the IRS will send out 5 million paper checks a week, moving up the income thresholds in $10,000 increments, according to the report. For instance, people with incomes above $20,000 and less than $30,000 will be sent checks on May 1. On May 8, people with incomes between $30,000 and $40,000 will be sent checks, and so on.

The process of mailing checks is expected to continue until September 4, when joint filers with an AGI of $198,000 — the cutoff for the minimum stimulus payment — will receive theirs.

According to The Post, remaining payments for those who the IRS had no prior tax information will be sent on September 11.

Quote (Skinned @ 8 Apr 2020 14:08)

Stimulus oversight is now gone per executive order.

Prepare the handout for Trump's closest allies and donors.

God damn. Monkeys can't sell bananas people.

Quote (Skinned @ Apr 8 2020 07:08am)

Stimulus oversight is now gone per executive order.
Prepare the handout for Trump's closest allies and donors.
God damn. Monkeys can't sell bananas people.