Coronavirus COVID-19 - Global Health Pandemic #42

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Crisis averted.

Social Security recipients who don't usually file tax returns no longer need to file them to get stimulus payments, Treasury says

The Washington Post on Twitter
 
  • #462
Otto, both groups are getting checks. Even ppl who have NOT lost their jobs are getting the check if they earn below the threshold.

The idea is to stimulate the economy. Generally less wealthy ppl actually will use that extra money to stimulate the economy, whereas more wealthy people would save it.
I picked up some groceries today and delivered to an older couple who didn’t want to risk getting out. She had just called their tax accountant and found out their income was a little over $149K, and he verified that they would receive $2400 in stimulus check.

She told me she was happy they were getting it and she planned to put it into their savings. So no stimulating the economy from them.
 
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Why do people who receive a SS check - enough to pay the bills - need a bonus check during a pandemic. They have enough money to cover expenses. It's people who are suddenly out of a paycheck that need the $1200 checks.

My parents don't receive enough to live off their SS checks. They aren't much. Their home isn't paid for. My father works still doing handyman work and remodeling. Physical labor for an older guy in his 70's with a double hip replacement and lupus. He will need that to be able to stay home and not work for a while.

It's also meant as a stimulus. I don't begrudge other people getting this check.
 
  • #466
Treasury reaffirms Social Security and Railroad beneficiaries who don’t typically file taxes will not have to file a tax return to get economic stimulus checks, as we’ve said on @AliVelshi. Will deposit directly in bank accounts using info from SSA-1099 and RRB-1099.

https://twitter.com/bpopken/status/1245502040635211776?s=21
 

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No.



Another financial impact for those on low end fixed incomes (usually SS only) is higher prices which means their SS check doesn’t go as far. If they are eligible for food stamps, they won’t go as far. Personally, I have no problem with these folks getting a stimulus check. They’ve worked all their lives and have very little. I count some among my friends. We plan to anonymously distribute our check among friends who lost their jobs. We’d help out our SS friends but it would mess up the income they declare to the state for other benefits, like home help, etc.
JMO
One thing for sure, no one needs an added burden at this time. If filing taxes poses problems, it should not be required. SSA already has info on recipients. But, we know nothing is easy when the IRS gets involved. Moo
 
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A lot of people on SS are in section 8 housing and getting food stamps. Jmo

I have to apologize for asking so many questions, but I live in the great white north where things are so different. There's no such things as "food stamps" except as an historic WW2 artifact. I don't know what section 8 housing is, but I'm guessing it's subsidized - doesn't matter. Point is that these are new concepts, as is the idea that each state has a few decision makers who sometimes disagree, and there are bidding wars for medical supplies.

In Canada, hospitals, schools and post-secondary institutions are government run. National health care eliminates any concern about health care costs during pandemic. Welfare is a thing, but those people are not eligible for loss of income checks at this time. People must have worked $5000 income in the last 52 weeks to be eligible for pandemic cheques.

Benefit_information_3_27.pdf

In Canada, the federal government defers to health ministers to decide where medical supplies go based on need. You will not hear about a bidding war for surgical masks in Canada.

It's in situations like this where we realize the differences between countries. Brazil, for example, is in party-on mode.
 
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I picked up some groceries today and delivered to an older couple who didn’t want to risk getting out. She had just called their tax accountant and found out their income was a little over $149K, and he verified that they would receive $2400 in stimulus check.

She told me she was happy they were getting it and she planned to put it into their savings. So no stimulating the economy from them.
They are right at the threshold for getting the full stimulus check (150k for joint filers) so it makes sense that there has to be a cutoff somewhere, and the higher income group will need it the least. Even up to a joint income of 198k they get something. And that's adjusted gross income.
 
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For those that are interested...

There's a Pulse Oximeter App for iPhone users. It uses your iPhone camera to detect your pulse and oxygen levels from your fingertip.

Probably a good idea to add the caveat that although these apps are generally good, they are not as accurate as medical equipment.
 
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