US Approved Corvid Stimulus Package- Where's The Money

[Mike J]

19 hours ago, OnMyWay said:

World Bank loans mainly poor countries, not countries like UK and US.  UK and US just print money to give themselves a "loan".  There are consequences.

Here is a good one.  Some well know leftist democrats have proposed some wildly expensive relief bills in the U.S.  One of them proposes to give every person in the U.S. (citizens or non-citizen, legal or not legal, unemployed or employed) $2000 on a debit card.  And this is for children too.  So a family of 5 like mine would get $10,000.  Then, each month $1000 would be added to the debit card, so my family would get $5000 a month.  This would last until 12 months after the pandemic is declared over.

Nobody would go back to work and some of those employed would quit!

So how would they pay for it?  The U.S. would mint 2 gold coins worth 1 trillion dollars each!  Backed by the full faith and credit of the U.S. government!

Where would they keep those?  I could see a heist movie being made about stealing them!  Who could you sell them to?  China?

 

Here is a source document for those interested.

https://www.forbes.com/sites/ryanguina/2020/04/22/stimulus-proposal-2000-payment-plus-1000-per-month-until-1-year-after-crisis-ends/#780ac79f6fa5

Spoiler

 

The CARES Act provided many Americans with financial relief in the form of a $1,200 stimulus check. But as that program rolls out, it has become apparent to lawmakers that more financial assistance is needed. There are currently several proposals from various lawmakers that would provide Americans with ongoing financial support. You can learn more about current proposals here.

Now you can add the Automatic BOOST to Communities (ABC) Act proposal, which was introduced by Congresswomen Rashida Tlaib (D-MI) and Pramila Jayapal (D-WA).

If approved, the ABC Act would provide every American with a BOOST debit card that is preloaded with $2,000. The card would be reloaded with $1,000 each month until one year after the end of the COVID-19 crisis.

The bill calls for the use of pre-paid debit cards to assist those who are unbanked or do not have access to check cashing services.

Who Would Be Eligible for the $2,000 Stimulus Payment & $1,000 Recurring Payment?
The goal of this bill is to guarantee no one is left behind. As written, the bill would provide a $2,000 pre-paid debit card to everyone, including:

Taxpayers
Dependents
Non-citizens 
Individuals who do not have a bank account, social security number, or permanent address.
People living in unincorporated territories or protectorates and Americans living abroad.
Dependents: The proposal gives an example of a family with four dependents being eligible to receive a pre-paid debit card for each taxpayer and each dependent. For example, a couple with two children would receive 4 debit cards at $2000 each, for a total of $8,000.

Non-citizens: This would include permanent residents, undocumented individuals, and temporary visitors whose stay exceeds three months.

These pre-paid debit cards would be reloaded with $1,000 each month until one year after the coronavirus emergency ends.

MORE FROM FORBES
Stimulus Payment Round 2: A Rundown Of The 3 Current Stimulus Proposals
By Ryan Guina
The U.S. Treasury Would Work with Other Agencies to Develop a Comprehensive List
The proposal calls for the U.S. Treasury to work with other governmental agencies to develop the most comprehensive list of recipients possible. This would include working with the Internal Revenue Service, the Social Security Administration, the Federal Election Commission, and every other relevant federal, state, and local government agency, including state-level Departments of Motor Vehicles (DMVs).

How Would Money Be Distributed?
The funds would be distributed via pre-paid U.S. Debit Cards in a program managed by the U.S. Treasury.

The pre-paid U.S. Debit Cards would be distributed via:

Direct Mail
In-person Pickup
At-Risk Outreach
All individuals with an active address on file with any government agency would have a card sent to them to that address via USPS.

In-Person Pickup would apply to those who do not have a permanent address, as well as permanent residents, undocumented individuals, and temporary visitors whose stay exceeds three months.

At-Risk Outreach would address those who are elderly, homeless, disabled, or those live in remote areas.

How Could the Funds Be Used?
The pre-paid U.S. Debit Cards could be used to make purchases at stores or online, or to make cash withdrawals at ATMs. Cardholders would also have the ability to top up their balances at any time, either during or after the crisis.

The ABC Act Would Be Paid For with Two $1 Trillion Coins
The ABC Act would be funded directly from the Treasury with no additional debt issued by minting two $1 trillion platinum coins. Additional coins would be minted as needed. Title 31 of the U.S. Code gives the Treasury Secretary the authority to mint and issue platinum bullion coins (see 31 U.S.C. § 5112(k)).

Proposal Calls for Digital Dollar System by 2021
This proposal also outlines the possibility of using the infrastructure behind the U.S. Debit Card system to create a “digital public currency wallet system,” or a digital currency based on the U.S. dollar.

 

 

 

Edited April 26, 2020 by Mike J

[Arizona Kid]

17 hours ago, Yeochief said:

All kinds of rumors going around about more stimulus money.  

Eligibility for the $2,000 monthly payments under the Emergency Money for the People Act would be much broader than for the current CARES Act stimulus payments. To qualify for the monthly payments under the bill, you would have to be:

• A citizen or resident of the U.S.; and

• At least 16 years old as of January 1, 2020.

The citizenship or residency requirement would be satisfied if a person is physically present in the U.S. continuously since January 27, 2020, and stays in the U.S. throughout the payment period. (A person would fail to maintain a continuous presence in the U.S. if he or she left the country for any period exceeding 90 days or for any periods, in the aggregate, exceeding 180 days.)

https://www.yahoo.com/news/going-second-round-stimulus-checks-114253578.html?.tsrc=jtc_news_index

I read that somewhere on one of the news websites also. If it's true than I know I will receive it because I deserve it. Can't say the same about some individuals on this site that haven't even received the first payment. You know who you are..(TT) 

[hk blues]

1 hour ago, Arizona Kid said:

I read that somewhere on one of the news websites also. If it's true than I know I will receive it because I deserve it. Can't say the same about some individuals on this site that haven't even received the first payment. You know who you are..(TT) 

I wonder why it says citizen or resident?  Surely it should just say resident - any citizen who wasn't resident from Jan 27 2020 won't qualify anyway.

Or, am I reading wrongly?

[OnMyWay]

35 minutes ago, hk blues said:

I wonder why it says citizen or resident?  Surely it should just say resident - any citizen who wasn't resident from Jan 27 2020 won't qualify anyway.

Or, am I reading wrongly?

Are you trying to exclude me again?  

I'm a citizen but not a resident!  I think the Jan.27th and time part is for non-citizens. 

[hk blues]

38 minutes ago, OnMyWay said:

Are you trying to exclude me again?  

I'm a citizen but not a resident!  I think the Jan.27th and time part is for non-citizens. 

The paragraph below the bullet points states - "The citizenship or residency requirement would be satisfied if..." That suggests both citizens and residency are subject to that condition?  If not, why even mention citizenship? 

Maybe just me or it's a badly worded document.  

[OnMyWay]

7 minutes ago, hk blues said:

Maybe just me or it's a badly worded document.  

I hope badly worded is the case.

Slim chance that a bill giving away that kind of money will pass anyway.  Think about it.  If you had a couple with a 17 yo kid, you would get $6000 a month, tax free.  And it doesn't say if there is an exclusion for employed people.  So an employed person would get their regular paycheck and this?  People who lost their jobs wouldn't want to go back to work if they got that kind of tax free cash.

[Tommy T.]

5 hours ago, Arizona Kid said:

You know who you are..(TT)

AK... you really and truly are a very cruel person... Shame on you !!!! And the ship you came in on!!!! Fie on you!!!!!!!

Edited April 27, 2020 by Tommy T.

[earthdome]

I just checked GetMyPayment again and was now able to update my bank information to receive the stimulus.

[roddavis]

Just wanted to get a quick result from other US guys on stimulus check/deposit!

Since I have lived in PI since 2015 and now retired. I still have not received a check or deposit yet.

I have filed taxes in 2019--- zero filer(0 pay, 0 refund) which has problem if trying to us irs "get my payment" tool Also if you use your foreign address when filing I suspect has problems not recognizing a PI address- fails with "information does not match" when inputting initial ssn#, address.

I was hoping that at least the irs would use my retirement ssa1099 to get direct deposit bank info to at least get my $1200 for myself. Tax return that I e-filed would show file jointly so would expect $2400. After seeing that my SS was direct deposited a couple days ago- but no stimulus deposit. Several sources said the irs would use your SSA1099 to direct deposit on Apr 29th.

So I wanted to see if you guys from the US:

Did you get your stimulus deposit or check?

Did you file 2018 or 2019 taxes? Was it jointly where both had SSN#?

Did you try using the irs tool "Get my payment" online and could you get in with a foreign address for verification? ( I was never able to get in to verify my info or get direct deposit info in. Been trying everyday since the tool came online Apr 15. No success!)

If not , just waiting for irs to use your SSA1099 info to get direct deposit or paper check:

I suspect since I didn't see my Stimulus deposit, that it may be coming by snail mail from the US, and that it could take a month to get here in the PI if and when if it ever gets here. 

[OnMyWay]

20 minutes ago, roddavis said:

I have filed taxes in 2019--- zero filer(0 pay, 0 refund) which has problem if trying to us irs "get my payment"

 

20 minutes ago, roddavis said:

Did you file 2018 or 2019 taxes? Was it jointly where both had SSN#?

It is not clear how you filed.  Did you file jointly with your wife?  If so, does she have SSN or ITIN?