Is Your Hand Out Wanting Some Cash?

[Fort Fun Indiana]

Considering constitution is the law and a restriction of govt power, yes.

But the Constitution doesn't prohibit it. Naturally. As the Constitution was written before electricity, it often does not give us guidance on modern issues. Including this one.

 

[Billy_Kinetta]

Pay attention. They'll tell you soon.

Ok, but they don't have magical access to anything stating what my assets are. I am still curious how such a thing would be determined.

You pay taxes?

 

[Fort Fun Indiana]

I believe he said those that make $1M a year won't, but refused to quote much else.

So, income based, not asset based. That makes more sense.

 

[OldLady]

They won't be sending me a check.

Yes they would. Every adult American would get one.

That would be really helpful.

 

[TNHarley]

Considering constitution is the law and a restriction of govt power, yes.

But the Constitution doesn't prohibit it. Naturally. As the Constitution was written before electricity, it often does not give us guidance on modern issues. Including this one.

It gives govt powers and everything else is left to the states. So, yes, it does restrict it.
It also gives guidance on current issues. Its called an amendment process.
But you are a statist so your position doesnt surprise me.

 

[Fort Fun Indiana]

You pay taxes?

I do. How is that relevant? I could own 5 free clear homes, and you wouldn't know, from taxes, what my equity position is.

We report capital gains, but I may have sold those holdings last week. Again, you can't determine that from taxes.

Income based makes more sense, so I think that will probably be the standard.

 

[Billy_Kinetta]

They won't be sending me a check.

Yes they would. Every adult American would get one.

Mnuchin already stated that those with too many assets will not get a check.

I believe he said those that make $1M a year won't, but refused to quote much else.

I'm sure there will be other criteria. It's unlikely a retiree with assets in the millions will receive a check.

 

[shockedcanadian]

Canada might do something like this, but on a far lower scale. Our economy was in trouble before the virus. It won't improve anytime soon.

 

[Billy_Kinetta]

You pay taxes?

I do. How is that relevant? I could own 5 free clear homes, and you wouldn't know, from taxes, what my equity position is.

We report capital gains, but I may have sold those holdings last week. Again, you can't determine that from taxes.

Income based makes more sense, so I think that will probably be the standard.

"They see you when your sleep-ing ...
They know when you're a-wake ..."

 

[whitehall]

What does it mean? Thousands of people are looking for a govt. tax refund check around this time of the year. Is that a problem too?

 

[Harpy Eagle]

Pay attention. They'll tell you soon.

Ok, but they don't have magical access to anything stating what my assets are. I am still curious how such a thing would be determined.

You pay taxes?

You pay taxes to the Fed Govt on your assets?

 

[Billy_Kinetta]

I believe he said those that make $1M a year won't, but refused to quote much else.

So, income based, not asset based. That makes more sense.

Assets produce income. Excuse me for not spelling it out letter by letter for you.

 

[C_Clayton_Jones]

Conservatives are desperate to not lose the next election, including drowning the country in debt

Non-partisan economists are recommending this.

Nonpartisan, perhaps, but not very conservative.

And one shouldn't be so naive as to believe that these payouts aren't politically motivated.

This is still about Republicans trying to avoid a drubbing this November .

 

[okfine]

What does it mean? Thousands of people are looking for a govt. tax refund check around this time of the year. Is that a problem too?

The Treasury Sec was really vague, but looking at Trump's reaction to this handout (or hand-up) seams to be on the Yes side.

 

[Fort Fun Indiana]

So, yes, it does restrict it.

No, actually, it doesn't. And we have done this before.

 

[Fort Fun Indiana]

And one shouldn't be so naive as to believe that these payouts aren't politically motivated.

I don't care about that, and you shouldn't either. That's our system at work. If they are doing something they think the American people want, welcome to republican democracy.

 

[Fort Fun Indiana]

Assets produce income.

Not necessarily. In fact, a free/clear property costs you money each year, more if it depreciates.

You simply cannot determine a person's net worth or assets from a tax return, typically. Thus my confusion.

 

[Hellbilly]

What do you think of the Govt. handing out a $1000.00 check? Those of you who bag on welfare/SNAP recipients... will you be chomping at the bit for yours?

Folks who work in retail/restaurants/bars and any other occupations that bring us in direct contact with people should be taken care of. I, myself lost 4 shows today. Friends of mine are losing their daycare and losing their jobs. Restaurants can barely make payroll.

Our president is showing us how much he doesn’t care about us.


Sent from my iPhone using Tapatalk

 

[TNHarley]

So, yes, it does restrict it.

No, actually, it doesn't. And we have done this before.

It lists specific powers the fed gov has and then it states anything else is left to the stares.
2+2=9 right?

 

[Billy_Kinetta]

Assets produce income.

Not necessarily. In fact, a free/clear property costs you money each year, more if it depreciates.

Then it becomes a deficit.