Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Senate passes coronavirus package as Treasury proposes rescue with emergency checks
$500B total proposed. Inexplicable social media comparisons to the gift of Universal Basic Income (UBI). Kamala?! crawling out of crypt with LIFT promo.

Which coincides with me reminiscing, reviewing Bush (2001, dotcom 9/11) and Obama (2009) "stim-pack" dramas. One (R), one (D) combo tax cuts and accelerated tax "rebates": money earned and exclued from US Treasury collections. tbh, unembloyment insurance benefit extension over two years is what kept The Economy afloat.

I had seen a tweet by an obscure "policy analyst" wondering how homeless and "unbanked" persons could get checks. Simple answer: They won't. Unless miracle. Typically, they are excluded from these middle-class sops, for one reason: INSUFFICIENT employment/quarter and tax filing. More pathetic, SSA programmatic benefit distribution was not mentioned once by an earnest "solutions" correspondent.

by Cat on Wed Mar 18th, 2020 at 09:04:25 PM EST
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Democrats balk at $1,200 rebate checks in stimulus plan
People who pay little to nothing in income taxes but earned at least $2,500 would get a minimum rebate of $600.
Each "check" amounts to ~ 10% advance of total standard deduction from taxable income, ergo min refund of tax withheld 2019; joint and head of household filers less % than individuals. In any event, unemployment insurance (UI) benefit payments are taxed as earned income, as is the custom.

< yawn >

To conclude, 2/3 of social media policy poseurs were in elementary school (2001), 1/3 in middle-school (2009). The "poors" treading US informal economy can expect zip, zero, nada, 0 windfall.

by Cat on Sat Mar 21st, 2020 at 02:24:24 AM EST
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