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Honored Contributor
Posts: 36,053
Registered: ‎08-19-2010

I've been wondering about what I've been reading in here about the lowered income limits, so, I went online and investigated and found this:

 

 

Because the maximum size of a stimulus check this time is half the size of the first round, AARP roughly estimates that some people who earn more than $87,000, couples that earn more than $174,000 and head of households who earn more than $124,500 may not get payments at all (size of benefit payments will decrease by $5 for every $100 earned over the limits for full benefits listed above).

Honored Contributor
Posts: 18,612
Registered: ‎10-25-2010

@skatting44 wrote:

My opinion is to give the stimulus to those who have been out of work or had work hours cut because of all the shutdowns . I don't want to live through high inflation as we had in late 1970's and early  1980's. The interest rate on mortgages  was 14% in my area. Car loans were outrageous to . It was hard back then to buy a 1st home .


Most people out of work or who have reduced hours are collecting unemployment benefits which have been extended, plus they are getting an extra $300 a week. So, they are getting the $600 stimilus plus $300 a week.  They were included in this round.

 

 

Respected Contributor
Posts: 2,170
Registered: ‎05-30-2012

@godi wrote:

Don't have direct deposit. So who knows when we will get ours. 


Watch your mail news report said those who don't have direct deposit checks started going out in the mail last Wednesday.

Honored Contributor
Posts: 20,648
Registered: ‎03-09-2010

@northiie57 wrote:

I sure hope mine will be a direct deposit.....this is what happened the last stimulus check to me....IRS and Social Security had all the correct information aka bank account, address...for some reason and I still cannot figure it out as I called and they verified every thing was correct (IRS and SS) and for some dumb reason they mailed me a paper check....still nobody can give me an answer why they mailed it....it still boggles me, but I am so grateful...did come way later and was very much needed....hopefully I will see a direct deposit this time Smiley Happy

 


 

Yes, if you were already on direct deposit for IRS, you will receive it as a deposit into your account.

Honored Contributor
Posts: 12,928
Registered: ‎11-01-2010

@skatting44 wrote:

My opinion is to give the stimulus to those who have been out of work or had work hours cut because of all the shutdowns . I don't want to live through high inflation as we had in late 1970's and early  1980's. The interest rate on mortgages  was 14% in my area. Car loans were outrageous to . It was hard back then to buy a 1st home .


@skatting44 

 

By definition, a stimulus check has nothing to do with one’s income; it is about pouring money into the economy.  

 

What you are talking about - and what we really need - is not a stimulus check but targeted aid to those who have lost jobs/income and are unable to pay rent/mortgage and/or purchase food for survival.

 

A one time $600 or $2000 check isn’t going to help those in need very much.

Honored Contributor
Posts: 36,053
Registered: ‎08-19-2010

I'll get mine (ours) after all my  pals and family gets theirs. Way it was the last time. We usually pay in anyway just getting it back LOL Even swap.

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Posts: 3,458
Registered: ‎06-10-2015

@willdob3 wrote:

@skatting44 wrote:

My opinion is to give the stimulus to those who have been out of work or had work hours cut because of all the shutdowns . I don't want to live through high inflation as we had in late 1970's and early  1980's. The interest rate on mortgages  was 14% in my area. Car loans were outrageous to . It was hard back then to buy a 1st home .


@skatting44 

 

By definition, a stimulus check has nothing to do with one’s income; it is about pouring money into the economy.  

 

What you are talking about - and what we really need - is not a stimulus check but targeted aid to those who have lost jobs/income and are unable to pay rent/mortgage and/or purchase food for survival.

 

A one time $600 or $2000 check isn’t going to help those in need very much.


The $1200 and $600 payments are not called stimulus payments. They are Economic Impact Payments. That language shifts the emphasis from buttressing the economy to  offsetting the negative effects the pandemic have had on the finances of so many people.

 

Regarding the unemployed, many were receiving a bonus $2,400 a month on top of their regular unemployment. That's now reduced to $1,200 a month, or $300 a week. An unemployed couple could have netted $4,800 a month plus unemployment, and would now be getting $2,400 plus unemployment. I know that there are some parts of the country and some lifestyles that would find that inadequate, but for many, it's probably enough to scrape by if they can stay well.

 

The people who can't qualify for unemployment or find work are the hardest hit. They  have nothing to rely upon but charity and whatever government programs apply to them. They really need more than a one-off $600 payment. That goes for all the people who currently have benefits, but will run out and won't have jobs to go back to. We really need a reboot and big thinking at the federal level, not patchwork solutions engineered by states.

Respected Contributor
Posts: 4,553
Registered: ‎03-14-2010

I called AARP Thursday to demand they advocate for bigger payments

 Many seniors are suffering and are in limbo making too much to qualify for food stamps but not enough to keep up with rising costs.  $600 is simply not enough. 

Honored Contributor
Posts: 12,317
Registered: ‎03-09-2010

Our check is in our account...1-1-21.

To bad it could not have been a more targeted payment.

Honored Contributor
Posts: 8,739
Registered: ‎06-06-2019

Mine was in my account much to my surprise.  Husband is flipping mad cuz he got very little.  I am retired and have limited income, he is still working earning big bucks.  He said I should give mine to him.  Ha ha ha.  He's so greedy.  Does not believe we should get different amounts.  We should all get the same.  That's the tune he sings.