Not sure if it will be getting anything, but if so, the plan would be 1/3 towards building the emergency fund stronger, 1/3 to help local economy via visits to local shops/restaurants/tips, and 1/3 towards a discretionary item (like a coin). My hopes would be to add another gold dollar to the collection.
The proposed 2020 stimulus check is going to be larger than the 2001 or 2008 initiatives. Congress is working out the final details of who qualifies and how much the check will be. These checks are part of a larger $1.2 trillion stimulus package.
The most recent proposal from Senate Republicans is that each adult could get up to a $1,200 payment ($2,400 in the case of a joint return). Each qualifying child would add $500 to the amount.
With previous checks, you needed to file a tax return in the prior year. For example, you had to file a tax return for the 2007 tax return to get a stimulus check for the 2008 program.
For the 2020 stimulus check, they would be based on 2018 tax returns, although the Senate bill contains a provision that a 2019 return could be used if you did not file a return for the 2018 tax year. (That’s a good reason, if you had income in 2019, but not 2018—say you’re a new college graduate—to get your 2019 return filed.)
In 2008, there were annual income limits that began to reduce the check amount for high-income households. The income phaseout was $75,000 for the 2008 checks.
The 2020 stimulus check, under the Senate Republican proposal, would have a similar income limitation that starts at $75,000. The amount would be reduced by 5% of the amount of a taxpayers income that exceeds $75,000. For joint filers, the threshold would be $150,000. At the other end of the income spectrum, some poorer families would get a minimum benefit of $600, a provision that has raised concerns from not only Democrats, but some Republicans.
@jdimmick said:
I imagine most folks on this forum wont be getting one
The cutoff limit for married couples to get any benefit is $198k.....no wonder my coins always look like
junk compared to most everyone else's.....that, and I'm cheap er frugal.
Don't know if we are going to get anything. The wife is an essential worker and I haven't been laid off. We have her 2 adult kids and an adult niece living with us (all in their 20's). The daughter has lost her job, the niece lost her job and the boy works at a grocery store and still working. None of them help with finances but I'm sure they'll be getting some money to blow.
@bsshog40 said:
Don't know if we are going to get anything. The wife is an essential worker and I haven't been laid off. We have her 2 adult kids and an adult niece living with us (all in their 20's). The daughter has lost her job, the niece lost her job and the boy works at a grocery store and still working. None of them help with finances but I'm sure they'll be getting some money to blow.
It is based on your AGI on your most recent tax return.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
@bsshog40 said:
Don't know if we are going to get anything. The wife is an essential worker and I haven't been laid off. We have her 2 adult kids and an adult niece living with us (all in their 20's). The daughter has lost her job, the niece lost her job and the boy works at a grocery store and still working. None of them help with finances but I'm sure they'll be getting some money to blow.
It is based on your AGI on your most recent tax return.
Ya, me and the wife are just under the married couple income so I don't figure we'll get anything. We may have to take the kids though!
@yspsales said:
All American pressure canner and also try my hand at bread making.
I used one of these last fall to can 100 cans of fresh caught yellowfin tuna. My wife at the time said to me," are you waiting for a Zombie apocalypse"
I am married with two young kids, so hopefully will receive $3,400. I plan to add it to my emergency fund, and save it until things calm down. I would hate to blow it, then really end up needing it sometime soon.
@yspsales said:
All American pressure canner and also try my hand at bread making.
I used one of these last fall to can 100 cans of fresh caught yellowfin tuna. My wife at the time said to me," are you waiting for a Zombie apocalypse"
Apparently, I have foresight.
I will be making bread today
With all the steaks, burgers, chicken bought this week we are good for a couple weeks.
I am the crock pot king... a vacuum sealing, leftover saving, prepper, savant.
Just finished a crock pot full of spaghetti which I will vacuum seal and freeze. Tomorrow... crock pot lasgana. So on and so forth and things of this nature... chili, soups, stew, and more soups.
A friend just sent me 20 pounds of fresh shrimp.
I don't want to leave the house during this crisis so next goal is stocking up on veggies an fruits... so figure canning is in my future.
Got alot of PSA/PCGS goals to complete. Several books I have not read...
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I won’t be getting any money. Please don’t hate me because of that.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
It should only go to people who really need it, the many who have lost jobs and livelihoods. It seems as though many of us on this board are fortunate to not be in that category - yet.
In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
Excellent! Other fountain pen fans I had a Pilot Metropolitan. It was the first pen that really got me using fountain pens consistently. I gave it to a friend of mine that has recently gotten interested in them and now he uses it. I do have a nice vintage Parker Vacumatic but it needs some nib work so I need to mail it off when all of this settles down and have it gone through. I'd like to get more vintage ones at some point as well.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
@TurtleCat said:
My work is in the essential category (healthcare IT) and I think I’ll get some as I’m the only wage earner in the family. Some will go to some things for my son (he’s autistic and has some special needs) and my wife told me I’d have to spend some on a coin. So I will probably look for a nice common date AU 58 barber half.
Go to the bank and exchange a 10 spot for a roll of quarters. That will be your coin spending.
@MrEureka said:
Depends. Are the income-based limitations based on 2019 earnings, or are they based on unknown and maybe non-existent 2020 earnings?
But to play the fantasy game, if I had $1200 coming, I'd buy the first coin I found that fits in my collection.
And FWIW, it would have been better to just send everyone some toilet paper, rice, canned beans, and bottled water once a month until the coast is clear.
The earthlings are using so much TP that they will eventually wipe themselves out.
@TurtleCat said:
My work is in the essential category (healthcare IT) and I think I’ll get some as I’m the only wage earner in the family. Some will go to some things for my son (he’s autistic and has some special needs) and my wife told me I’d have to spend some on a coin. So I will probably look for a nice common date AU 58 barber half.
Go to the bank and exchange a 10 spot for a roll of quarters. That will be your coin spending.
Thankfully I don’t need to be that severe. Before all this happened I had nearly a 2 year reserve covering all my expenses. It’s down now to about a 22 month reserve but I’m thankfully still employed so I can still help the economy out.
After giving this some more thought, I think that instead of the $1200 deal, the government should have offered low interest loans to individuals and business equal to some percentage of the taxes they paid in the previous three years. Impossible to know if that would end up costing the government more or less than the current plan, but it would do a better job of keeping things running smoothly, and eliminating giveaways to people who don't really need the money.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
After giving this some more thought, I think that instead of the $1200 deal, the government should have offered low interest loans to individuals and business equal to some percentage of the taxes they paid in the previous three years. Impossible to know if that would end up costing the government more or less than the current plan, but it would do a better job of keeping things running smoothly, and eliminating giveaways to people who don't really need the money.
After some thought, I think the money should be used to make everyone confident in access to ventilators if needed.
@SaorAlba said:
It should only go to people who really need it, the many who have lost jobs and livelihoods. It seems as though many of us on this board are fortunate to not be in that category - yet.
I hope gold will still be worth something.
I've gotten my butt kicked in the stock market over the past couple of weeks (on paper). I thought that my "coin investments" had been really bad ... Then I learned what could be worse.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Comments
I thought everybody got the money. What requirements are you talking about?
If you make too much, you don't get a check. No money for me, but no coins until this goes away.........
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
My income is far too high...
I imagine most folks on this forum wont be getting one
Hopefully those who are receiving checks will put the funds to good use ... and that may or may not be coins.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I guess I am part of the lower class here. I should be getting a check. Will use it for whatever is appropriate at the time.
Ironworker coin collector = rare bird.
Not sure if it will be getting anything, but if so, the plan would be 1/3 towards building the emergency fund stronger, 1/3 to help local economy via visits to local shops/restaurants/tips, and 1/3 towards a discretionary item (like a coin). My hopes would be to add another gold dollar to the collection.
since it is for those in need, i will save it until i need it.
Give Me Liberty or Give Me Debt
The proposed 2020 stimulus check is going to be larger than the 2001 or 2008 initiatives. Congress is working out the final details of who qualifies and how much the check will be. These checks are part of a larger $1.2 trillion stimulus package.
The most recent proposal from Senate Republicans is that each adult could get up to a $1,200 payment ($2,400 in the case of a joint return). Each qualifying child would add $500 to the amount.
With previous checks, you needed to file a tax return in the prior year. For example, you had to file a tax return for the 2007 tax return to get a stimulus check for the 2008 program.
For the 2020 stimulus check, they would be based on 2018 tax returns, although the Senate bill contains a provision that a 2019 return could be used if you did not file a return for the 2018 tax year. (That’s a good reason, if you had income in 2019, but not 2018—say you’re a new college graduate—to get your 2019 return filed.)
In 2008, there were annual income limits that began to reduce the check amount for high-income households. The income phaseout was $75,000 for the 2008 checks.
The 2020 stimulus check, under the Senate Republican proposal, would have a similar income limitation that starts at $75,000. The amount would be reduced by 5% of the amount of a taxpayers income that exceeds $75,000. For joint filers, the threshold would be $150,000. At the other end of the income spectrum, some poorer families would get a minimum benefit of $600, a provision that has raised concerns from not only Democrats, but some Republicans.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
By my calcs, based on the above
If single making more than $99,000-no check
If married making more than $199,000 - no check
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
The cutoff limit for married couples to get any benefit is $198k.....no wonder my coins always look like
junk compared to most everyone else's.....that, and I'm cheap er frugal.
My wife and I will be getting the full benefit but do not really need the cash.
We will be donating the funds to a local food bank we volunteer with every week to help those that really need it.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Don't know if we are going to get anything. The wife is an essential worker and I haven't been laid off. We have her 2 adult kids and an adult niece living with us (all in their 20's). The daughter has lost her job, the niece lost her job and the boy works at a grocery store and still working. None of them help with finances but I'm sure they'll be getting some money to blow.
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
It is based on your AGI on your most recent tax return.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Ya, me and the wife are just under the married couple income so I don't figure we'll get anything. We may have to take the kids though!
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
But I did just buy me some coins today!
I’ll need 20 stimulus checks to May my tax bill
Latin American Collection
Coins... I am looking a year down the road, and I want to get my cards and coins in the grading pipeline to maximize long term value.
Also, plan to pick up an Allstate case or two.
Living in Hurricane Alley, you learn sometimes you just got to turn off the noise and look to the future.
I am learning a new skill, and will buy an All American pressure canner and also try my hand at bread making.
Any found money will be put to good use.... food preps etc.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I used one of these last fall to can 100 cans of fresh caught yellowfin tuna. My wife at the time said to me," are you waiting for a Zombie apocalypse"
Apparently, I have foresight.
I will be making bread today
I am married with two young kids, so hopefully will receive $3,400. I plan to add it to my emergency fund, and save it until things calm down. I would hate to blow it, then really end up needing it sometime soon.
For you retired social security receiving folks you WILL receive the stimulus.
"Today the crumbs, tomorrow the
loaf. Perhaps someday the whole damn boulangerie." - fictional Jack Rackham
With all the steaks, burgers, chicken bought this week we are good for a couple weeks.
I am the crock pot king... a vacuum sealing, leftover saving, prepper, savant.
Just finished a crock pot full of spaghetti which I will vacuum seal and freeze. Tomorrow... crock pot lasgana. So on and so forth and things of this nature... chili, soups, stew, and more soups.
A friend just sent me 20 pounds of fresh shrimp.
I don't want to leave the house during this crisis so next goal is stocking up on veggies an fruits... so figure canning is in my future.
Got alot of PSA/PCGS goals to complete. Several books I have not read...
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Zero - reducing total investment / selling off.
Well I'd buy one of these....Natch
(20 Corona Austrian Gold 0.19 oz)
Sadly...Even one in poor condition is probably worth more than I'll be getting.
My Saint Set
I'll probably just save it in my bank for a while, just in case, but eventually..........
Broad nib I think.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
I see someone else here likes fountain pens.
My tastes run more toward vintage flex.
My Saint Set
I won’t be getting any money. Please don’t hate me because of that.
You spent yours on those cool stepping stones....
It should only go to people who really need it, the many who have lost jobs and livelihoods. It seems as though many of us on this board are fortunate to not be in that category - yet.
Walkerguy21D...come on man, sweat a little and roll with the 1799. I have regretted selling mine for 15 years.
In a 20 mile radius of my house are 250 million chickens, but none of those are in the grocery store.
I have misplaced my lowly Pilot Metropolitan fountain pen... and I miss it everyday.
Cheap to replace but I keep thinking it will show up.
Can't bring myself to spend the money for a Mont Blanc... maybe a Pelikan Pura of some type.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
None here either. Its going for auto ins and taxes for the vampires🙄
@ReadyFireAim @yspsales
Excellent! Other fountain pen fans
I had a Pilot Metropolitan. It was the first pen that really got me using fountain pens consistently. I gave it to a friend of mine that has recently gotten interested in them and now he uses it. I do have a nice vintage Parker Vacumatic but it needs some nib work so I need to mail it off when all of this settles down and have it gone through. I'd like to get more vintage ones at some point as well.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Unfortunately I have other things to worry about these days. Not thinking coins very often in this climate.
Mechanic coin nerd = rare bird as well.
Guess we'll get checks
Bst transactions with: dimeman, oih82w8, mercurydimeguy, dunerlaw, Lakesammman, 2ltdjorn, MattTheRiley, dpvilla, drddm, CommemKing, Relaxn, Yorkshireman, Cucamongacoin, jtlee321, greencopper, coin22lover, coinfolio, lindedad, spummybum, Leeroybrown, flackthat, BryceM, Surfinxhi, VanHalen, astrorat, robkool, Wingsrule, PennyGuy, al410, Ilikecolor, Southcounty, Namvet69, Commemdude, oreville, Leebone
Fortunately we will not qualify.
Go to the bank and exchange a 10 spot for a roll of quarters. That will be your coin spending.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
I just make my own pens.
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
Seems more than a moment of reflection is needed to contemplate priorities in view of some of the responses... Sad.
Experience the World through Numismatics...it's more than you can imagine.
@bsshog40 I used to do that as well. I have a bunch packed away somewhere that I turned! Nice looking pen!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Large pie with the works!
And then my favorite Chinese food.
Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall
I desperately need some better windows in my house so my heat bills will go down. That should be a good investment.
Be nice to get some of the money I paid in to taxes back, but will probably never see a check from Uncle Sam.
The earthlings are using so much TP that they will eventually wipe themselves out.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Thankfully I don’t need to be that severe. Before all this happened I had nearly a 2 year reserve covering all my expenses. It’s down now to about a 22 month reserve but I’m thankfully still employed so I can still help the economy out.
TurtleCat Gold Dollars
I won't get any (there is an earnings phase-out clause, from what I understand).
Yup, nothing for us so-called "rich people".
Member ANA, SPMC, SCNA, FUN, CONECA
After giving this some more thought, I think that instead of the $1200 deal, the government should have offered low interest loans to individuals and business equal to some percentage of the taxes they paid in the previous three years. Impossible to know if that would end up costing the government more or less than the current plan, but it would do a better job of keeping things running smoothly, and eliminating giveaways to people who don't really need the money.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I > @MrEureka said:
After some thought, I think the money should be used to make everyone confident in access to ventilators if needed.
My 1866 Philly Mint Set
I hope gold will still be worth something.
I've gotten my butt kicked in the stock market over the past couple of weeks (on paper). I thought that my "coin investments" had been really bad ... Then I learned what could be worse.