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Update - 3/11/21 - America Rescue Plan Bill is signed!


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28 minutes ago, Ball Security said:

This always confuses me.  Is it $160k gross or is it your taxable amount after 401k and Healthcare is taken out?

It is your Adjusted Gross Income

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1 hour ago, PleaseBlitz said:

Agree with both of these.  Minimum wage should be state-by-state (or even by city), not national.  Or if it is national, it should not go to $15, it should go to like $10.  It pisses me off that progressives are getting snippy with Biden.  First, he gave it a shot, but once the parliamentarian so no-go, it was a no-go.  The relief bill is still a major victory if they can get it passed.  Second, a US Congressperson is a major figure in their own state, focus your efforts there.  


i think the problem is that many of those poor states that need it are GOP controlled so the only help you can hope for is from

the federal level. Maybe this causes movement from heavy Dem areas to rural areas due to lower cost of living and your $15 wage going a lot further. Could show a positive political shift impact years down the road but that’s wishful thinking. 
 

I find it hard to believe that $15 goes very far even in poor states. You might not be struggling to pay bills anymore but it’s not exactly a nice lifestyle either 

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The democrats/progressives need to come up with a different way to frame the minimum wage argument.  They need to stop making it about a specific dollar amount and instead make it about what we as a country want minimum wage to be able to provide.  It is about the purchasing power.  It should be restructured in a way that it automatically adjusts to other economic factors that way this kind of debate is unnecessary in the first place.   The GOP tries to use the "sticker shock" effect of going from $8 to $15 (or whatever it is currently?) but it doesn't seem to get mentioned that the reason for the big adjustment is because of how it wasn't sufficiently raised as other costs and factors continued to rise. 

 

A couple weeks ago when some GOP members were throwing out their anecdotal stories about "how great minimum wage was for them when they were growing" up really did half the work for the Democrats because it is very easy to make the argument that despite a lower per hour dollar amount of minimum wage from 30+ years ago, the actual purchasing power for the worker was greater than it is now. 

 

If you go back and listen to what FDR said about the minimum wage in the first place, it was a very different vision and plan than what minimum wage has turned into. 

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5 minutes ago, NoCalMike said:

The democrats/progressives need to come up with a different way to frame the minimum wage argument.  They need to stop making it about a specific dollar amount and instead make it about what we as a country want minimum wage to be able to provide.  It is about the purchasing power.  It should be restructured in a way that it automatically adjusts to other economic factors that way this kind of debate is unnecessary in the first place.   The GOP tries to use the "sticker shock" effect of going from $8 to $15 (or whatever it is currently?) but it doesn't seem to get mentioned that the reason for the big adjustment is because of how it wasn't sufficiently raised as other costs and factors continued to rise. 

 

I would assert that the first part of messaging they need to do, is to decouple the "minimum wage" from "McDonald's workers".  

 

Make the debate about plumbers and nurses and teachers.  

 

And when some Republican says "the market has spoken" about those, point out that the market includes the minimum wage.  

 

Might be worth a Biden speech.  

 

 

Edited by Larry
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31 minutes ago, Ball Security said:

This always confuses me.  Is it $160k gross or is it your taxable amount after 401k and Healthcare is taken out?

 

2 minutes ago, EmirOfShmo said:

Adjusted Gross Income - AGI on your tax return. 

 

2 minutes ago, just654 said:

It is your Adjusted Gross Income

 

Line 8b on the 2019 1040.

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Re: Stimulus Limits to $80k and $160k

I haven't done our taxes yet, but assume my AGI will put me back between $150k and $200k.  

 

Trump and the GOP had no problem giving me money, but Biden and the Senate don't want to.  That is backward and people will remember not getting a check from Biden.  Not all voters are as understanding as me... (and yes the GOP is voting to give everyone $0).  

 

On the other hand, I don't need COVID relief.  Not that the 1% ever say "I don't need a tax break" (well, some of them do).  

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I thought the phase out started at $75k/$150k all along?

 

Or are we talking about being phased out completely at $80k/$160k, and the whittling down of payment to begin much lower than that?  If so, it would be a huge hit to Biden and the democrats.

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16 minutes ago, BatteredFanSyndrome said:

I thought the phase out started at $75k/$150k all along?

 

Or are we talking about being phased out completely at $80k/$160k, and the whittling down of payment to begin much lower than that?  If so, it would be a huge hit to Biden and the democrats.

From what I’m reading, the phaseout still the begins at the same: 75/150.

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26 minutes ago, BatteredFanSyndrome said:

I thought the phase out started at $75k/$150k all along?

 

Or are we talking about being phased out completely at $80k/$160k, and the whittling down of payment to begin much lower than that?  If so, it would be a huge hit to Biden and the democrats.

 

7 minutes ago, Ball Security said:

From what I’m reading, the phaseout still the begins at the same: 75/150.

 

Total phase out would now be 80/160 in the new plan (instead of 100/200 as before on the first one). Still no distinction being made to cost of living. That 80k is primo living in bum**** Mitch McConnell land but barely registers in places like NYC, NoVa, and coastal California.  

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33 minutes ago, BatteredFanSyndrome said:

I thought the phase out started at $75k/$150k all along?

 

Or are we talking about being phased out completely at $80k/$160k, and the whittling down of payment to begin much lower than that?  If so, it would be a huge hit to Biden and the democrats.

 

A Total Phase out by 160K, I wonder if the Dependent part will make it go a little past. But this is just terrible for the Dems. This writes campaign ads next year. Trump and the GOP got x number of millions a check. Dems with control decided that X number less got money. It wont even matter that it is the Reps that are putting the crunch to the Dems. People wont see it that way.  

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I don’t know why more large businesses aren’t in favor of minimum wage increase. They are the ones that benefit the most. Shut out their small business competition and they have the ability to invest in automation...

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Do people know what the phase outs looked like in the prior stimulus?  Say a joint filing couple at $162k won’t get anything now, but what percentage of the $1400 did they get last time?  And also, wasn’t it $1200 last time?  And dependents are up $900 each.

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3 minutes ago, Ball Security said:

Do people know what the phase outs looked like in the prior stimulus?  Say a joint filing couple at $162k won’t get anything now, but what percentage of the $1400 did they get last time?  And also, wasn’t it $1200 last time?  And dependents are up $900 each.

 

The original stimulus reduced the 1200 per person by $5 for every $100 over. In other words, a couple making 162 would have gotten 1800 in stimulus. 

 

2400 (1200*2) - (12000*5%)

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5 minutes ago, Ball Security said:

Do people know what the phase outs looked like in the prior stimulus?  Say a joint filing couple at $162k won’t get anything now, but what percentage of the $1400 did they get last time?  And also, wasn’t it $1200 last time?  And dependents are up $900 each.

 

So I have an AGI 175K in 2019 Married filed Jointly with 1 child. I got $1629 and $530 last year. 

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1 hour ago, Momma There Goes That Man said:

 

I find it hard to believe that $15 goes very far even in poor states. You might not be struggling to pay bills anymore but it’s not exactly a nice lifestyle either 

 

Seems to me that if you go from struggling to pay bills to not struggling to pay bills, that's pretty nice.

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3 minutes ago, just654 said:

 

So I have an AGI 175K in 2019 Married filed Jointly with 1 child. I got $1629 and $530 last year. 

So for you and your spouse, being in the mid range of the phase out, you got about 2/3 of the amount that those below the threshold got.  I thought dependents were $500 a piece.

Also, does last year’s stimulus count as income?

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6 minutes ago, Ball Security said:

So for you and your spouse, being in the mid range of the phase out, you got about 2/3 of the amount that those below the threshold got.  I thought dependents were $500 a piece.

Also, does last year’s stimulus count as income?

Stimulus does not count has income.

 

Dependents $500 first and $600 for the 2nd.

 

I dont need the stimulus money. But I could really stimulate the economy. The First check went to help build a fence for my yard for my 2 y/o. The 2 check wife and I went shopping at the after Christmas sales. This one was going to buy me a new 65in 4K TV. But I guess not. 

Edited by just654
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 I donate my time and money to the single mothers of america foundation, you can find them at any strip club, tell em Smoot sent ya.

 

 

Truer words were never spoken. 

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Stockton's Basic Income Experiment Has Spectacular Outcome for Progressivism, Covid Relief Package

 

As many here know, two years ago the city of Sockton, Cal. launched the first comprehensive experiment in the use of universal basic income (UBI). For 125 individuals in lower-income parts of the City, using contributed funds, the city provided $500/month. As noted in the Atlantic, 

www.theatlantic.com/...

 

The recipients were allowed to spend the money however they saw fit, and they were not obligated to complete any drug tests, interviews, means or asset tests, or work requirements. 

 

As the Atlantic notes, these types of cash transfers are used all over the world, in rich and poor countries—but not in the United States.

 

The cash transfer reduced income volatility, for one: Households getting the cash saw their month-to-month earnings fluctuate 46 percent, versus the control group’s 68 percent. The families receiving the $500 a month tended to spend the money on essentials, including food, home goods, utilities, and gas. (Less than 1 percent went to cigarettes and alcohol.) The cash also doubled the households’ capacity to pay unexpected bills, and allowed recipient families to pay down their debts. Individuals getting the cash were also better able to help their families and friends, providing financial stability to the broader community... 

 

The researchers also found that the guaranteed income did not dissuade participants from working—adding to a large body of evidence showing that cash benefits do not dramatically shrink the labor force and in some cases help people work by giving them the stability they need to find and take a new job. In the Stockton study, the share of participants with a full-time job rose 12 percentage points, versus five percentage points in the control group. In an interview, Martin-West and Castro Baker suggested that the money created capacity for goal setting, risk taking, and personal investment.

 

Click on the link for the full article

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  • goskins10 changed the title to Update - 3/11/21 - America Rescue Plan Bill is signed!

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