So, the problem isn't that this is 'stimulus' trying to recover from a recession .. it's "emergency relief" for a "pandemic". The "people who need it most" are precisely the ones who had their business closed, and now can't make a living. An income tax deduction is an exact "let them eat cake" moment.
Yes - for people who are working, an income tax deduction/forgiveness would be awesome. Though...you'd have to pay real close attention to your tax bracket, effective tax rate, etc. If you're going to have an effective tax rate of 10%, and you want to beat $2,000 free money .. you need a $20k taxable income deduction. Lol.
The proper solution is to stop fucking around and open businesses back up. That would solve this. Instead, if government is going to close businesses at gunpoint .. that is a reasonably compelling reason that they need to give you money.
Unfortunately, that's a joke. Imagine spending something like 800 billion, to give yourself 200 billion. That's effectively the covid relief bill, or whatever the hell it is.
While I would be very happy with this too, I dont think it accomplishes the endstate of a stimulus if a lot of people have no income to pay taxes on
Well. That thread with juice got weird.
So, the problem isn't that this is 'stimulus' trying to recover from a recession .. it's "emergency relief" for a "pandemic". The "people who need it most" are precisely the ones who had their business closed, and now can't make a living. An income tax deduction is an exact "let them eat cake" moment.
Yes - for people who are working, an income tax deduction/forgiveness would be awesome. Though...you'd have to pay real close attention to your tax bracket, effective tax rate, etc. If you're going to have an effective tax rate of 10%, and you want to beat $2,000 free money .. you need a $20k taxable income deduction. Lol.
The proper solution is to stop fucking around and open businesses back up. That would solve this. Instead, if government is going to close businesses at gunpoint .. that is a reasonably compelling reason that they need to give you money.
Unfortunately, that's a joke. Imagine spending something like 800 billion, to give yourself 200 billion. That's effectively the covid relief bill, or whatever the hell it is.