How Will the 1200 Bucks You're Going to Get Affect Your Golf Game?

[Bonvivant]

7 minutes ago, Patch said:

As I understsnd it, congress/committees will decide the various "cut lines" for amounts recieved by individuals. Some will recieve more than others. Those in a tbd higher tax bracket won't recieve anything. 

The amounts I read that were being negotiated, were between $900, and $4500 pet individual. 

Yes it's supposed to based on previous tax returns, and the feds were trying for a mid April delivery. 

I'm not holding my breath....

Interesting that it would be based on returns, not income. People that don't loan the government interest free money get nothing with this, or do you mean income on their tax filings? If it is by returns, I won't see anything, because I don't loan my money to the government all year long for free (excess withholdings)  

 

7 minutes ago, Double Mocha Man said:

I believe the concept is that when you get your 1000 or 2000 bucks you spend it right away to stimulate the sinking economy.  If you save it it's money out of circulation.

If I wrote you a check for 1000 dollars, would you just instantly spend it? When you get your pay from work (or did if retired), do/did you just go blow everything that was in excess of your budget?

[TN94z]

My understanding was there would be a cutoff line based on income. Below the cutoff, you get a check. Above it, you do not. They cannot base if off of returns and get anywhere with it.

If I get a check it will just go into savings.

Edited March 18, 2020 by TN94z

[Double Mocha Man]

2 hours ago, Bonvivant said:

I don't think that its it is anyone's obligation to stimulate the economy with their earnings, though it is what makes the world go 'round. The people that do this regularly, or to excess, are the people that need the cash. The people that save and plan for the future are plenty stable, and I don't think that cutting them a check will make them go out and spend it. It's the same type of people that loan their money to the government (extra withholdings) , intrest free all year long, and then get back a big check from the feds during tax season (then go bonkers with it because they have way more money than they are used to having) that would spend this money instantly and stimulate the economy. 

Bonvivant, I don't think it's an all-or-nothing scenario. I believe most people will save some of the money and spend some of the money.

11 minutes ago, TN94z said:

My understanding was there would be a cutoff line based on income. Below the cutoff, you get a check. Above it, you do not. They cannot base if off of returns and get anywhere with it.

If I get a check it will just go into savings.

TN94z, the cut off point I've heard mentioned is $65,000 of income last year.

[Bonvivant]

1 minute ago, Double Mocha Man said:

Bonvivant, I don't think it's an all-or-nothing scenario. I believe most people will save some of the money and spend some of the money.

While I agree, I think the better way to do it is to give checks to people that were put out of work by this and fall below a certain income level. The people that are still working and getting paid shouldn't get anything, IMO

[iacas]

Let’s continue to avoid making this political.

[Double Mocha Man]

13 minutes ago, Bonvivant said:

While I agree, I think the better way to do it is to give checks to people that were put out of work by this and fall below a certain income level. The people that are still working and getting paid shouldn't get anything, IMO

That would be fair.

[Missouri Swede]

Didn’t we do this in 2008? And maybe one time previous to that (1990s)?

[Double Mocha Man]

2 minutes ago, Missouri Swede said:

Didn’t we do this in 2008? And maybe one time previous to that (1990s)?

2008 and 2001.

[No Mulligans]

It will go into my checking account, the checking account is used to pay bills.

[Papa Steve 55]

So its from my tax money...anybody know if they will take taxes out of it?

[commishbob]

I really hope they find a way to get it to folks who are impacted financially. My niece, for example, works two waitressing gigs to pay her rent and college tuition. She's down to a few hours helping with the online takeout orders.

We're fine, my own kids are fine and I doubt my wife and I will get checks anyway, but if we do I already know where they will go.

 

[Shindig]

13 hours ago, Bonvivant said:

Interesting that it would be based on returns, not income. People that don't loan the government interest free money get nothing with this, or do you mean income on their tax filings? If it is by returns, I won't see anything, because I don't loan my money to the government all year long for free (excess withholdings)  

The tax return is the document(s) you file, the tax refund is the money you get back, if your withholdings caused you to withhold more than you ended up owing.

As for me, I haven't missed anything golf-wise for lack of money since I got out of graduate school, so it wouldn't affect my golf.  In my super cheaper days, we could go back to my not wanting to spend more than $50 on a camera or something, but those days long gone. 

[dennyjones]

I just talked with my son and daughter-in-law.   They both work at casinos which have been closed.   I've changed my mind about any money coming my way, it will be redirected to help them.  

[TN94z]

23 hours ago, Double Mocha Man said:

TN94z, the cut off point I've heard mentioned is $65,000 of income last year.

I have not kept up with it the last day, but I had heard 100k. My other question is, how is it possible to look at everyone's returns and cut a check to those qualified within the allotted time the President wants the checks sent out? I foresee checks being sent out regardless of the cutoff if they stick to the dates. I mean, the IRS already has issues getting checks cut within a 2-3 week time frame on just the people that have filed within a given time during a normal tax season. Now they have to look at everyone's at the same time...it just doesn't seem feasible to me.

[FlyingAce]

Nothing is free in this country so we/someone will be paying for it eventually. I don’t remember getting anything in 2008 - can anyone remember how much it was?

 

[GolfLug]

3 hours ago, TN94z said:

I have not kept up with it the last day, but I had heard 100k. My other question is, how is it possible to look at everyone's returns and cut a check to those qualified within the allotted time the President wants the checks sent out? I foresee checks being sent out regardless of the cutoff if they stick to the dates. I mean, the IRS already has issues getting checks cut within a 2-3 week time frame on just the people that have filed within a given time during a normal tax season. Now they have to look at everyone's at the same time...it just doesn't seem feasible to me.

Yes, I think that was the original loose idea. Then the secondary thinkers were like..uhh wait a minute.. why would a gazillionaire care about $1000? So hence the thought behind the cut off. But yeah, that would not be next week. 

I think it will a bit of both - every body gets something immediately, for some it will be rent money, for others it will be local restaurant take out money. And then part two will be the sliding scale help that will be more like a monthly stipend, as a single shot won't alleviate long term troubles. 

EDIT: I heard this on an interview with Chuck Schumer that this is in the talks on the floor (PLEASE.. no political comebacks). 

Edited March 19, 2020 by GolfLug

[leftybutnotPM]

14 hours ago, commishbob said:

I really hope they find a way to get it to folks who are impacted financially. My niece, for example, works two waitressing gigs to pay her rent and college tuition. She's down to a few hours helping with the online takeout orders

 

Your niece is the exact profile that fits a massive proportion of the people that will be affected. There are going to be millions of young people who work in restaurants, retail, bars and cafes who suddenly will have zero income from work for many months. They won't be able to pay rent or live their lives as they have know them. Many of these businesses will not exist in 2 months time.

Virtually NONE of these kids have jobs with sick leave entitlements or holidays. Generation Z ot M or whatever they are have no idea what is about to hit them. At the end of this week they will. It's really tragic. 

[Greg 504]

IF I receive a check, I won't keep any of it as I am fortunate enough to be retired and have a steady income. I will first make sure my mother, father and sister are fine to sustain as long as possible. If they are in a good position as well, I will donate it to one or two small businesses that poured out their unwavering support during a work tragedy in 2018.