Stimulus Checks

[4yourinfo]

In Canada, making a middle class income, direct child benefit payments for family of 10 children can be $70 k +

In canada is there food stamps, child care etc? What happens by taxes is there dependant deductions, eic, child tax credits? Socialist like giving the money to you outright to make you feel dependant in the US were not there yet...

[grodnoking]

This is getting better and better
https://www.washingtonpost.com/us-policy/2021/01/13/biden-stimulus-plan-childcare/

""Trump put his name on checks worth $1,200, and Democrats could be at risk here of appearing to offer way less help in a way, and in a way that nobody notices,” Bruenig said."


It's always about appearances for them.

[yesitsme]

#optics

[Dovdovmoneytree]

In canada is there food stamps, child care etc? What happens by taxes is there dependant deductions, eic, child tax credits? Socialist like giving the money to you outright to make you feel dependant in the US were not there yet...

I'm afraid we're heading there real quick, too quick. The "Founding Fathers" must be turning in their graves (for so many reasons!!)

[simple26]

Ok so now the Irs delayed beginning of tax season to Feb 12because of the late stimulus Hmphhh

[PlatinumGuy]

Ok so now the Irs delayed beginning of tax season to Feb 12because of the late stimulus Hmphhh

The US Congress isn't held up by IRS bureaucracy. If anything they'll postpone 2021 taxes again, another easy win with voters which is free when interest rates are zero.

[mordechain]

So... 11 family members, 9 dependents under 18....tripling the actc...is uncle Joe gonna be giving me a $40,000??
A lot of Frum folks are going to start remembering why we were all Democrats 20 years ago...

[mordechain]

I'm afraid we're heading there real quick, too quick. The "Founding Fathers" must be turning in their graves (for so many reasons!!)

In canada is there food stamps, child care etc? What happens by taxes is there dependant deductions, eic, child tax credits? Socialist like giving the money to you outright to make you feel dependant in the US were not there yet...

I'm sure that there are programs for low income..I was talking about upper middle class income...For taxes,  Canada has  itemized deductions, so everyone is different, but if you're paying tuition, you probably aren't paying much in income tax. And remember, taxes include health insurance premiums.

[Jack out of the box]

So... 11 family members, 9 dependents under 18....tripling the actc...is uncle Joe gonna be giving me a $40,000??
A lot of Frum folks are going to start remembering why we were all Democrats 20 years ago...

What do you mean "tripling the actc"?
And, Joe ain't spending a penny on this. It's the taxpayers whenever the debt will be due.

[mordechain]

Additional child tax credit going from 1000 per child per year to 3000. Earned income credit going up too.

[YitzyS]

Additional child tax credit going from 1000 per child per year to 3000. Earned income credit going up too.

You think JJ will be investigated for insider trading?

[Jack out of the box]

Additional child tax credit going from 1000 per child per year to 3000. Earned income credit going up too.

ACTC has been $1,400 plus $600 CTC.

[Deal Guy]

In order to currently get 1400 actc, you need to have earned income. So for example, if someone makes 22,500, you can only get 3000 max of actc, no matter if you have 10 kids. (20,000 x 15 percent).

Would the 3k per child work any differently? If it's the same, low income families with multiple children don't gain anything.

[PlatinumGuy]

In order to currently get 1400 actc, you need to have earned income. So for example, if someone makes 22,500, you can only get 3000 max of actc, no matter if you have 10 kids. (20,000 x 15 percent).

Would the 3k per child work any differently? If it's the same, low income families with multiple children don't gain anything.

Obviously it's all just a proposal at this point, but my understanding is Biden wants to waive the income requirements at least for one year. I guess a family with 10 dependents & $22,500 income can be looking at a best case scenario additional payout of $40,000 between stimulus and new refundable child tax credits.

The Child Tax Credit should be made fully refundable for the year. Currently, ​27 million children​ live in families with household incomes low enough that they didn’t qualify for the full value of the Child Tax Credit, and this measure would give these children and their families additional needed resources. The president-elect is also calling to increase the credit to $3,000 per child ($3,600 for a child under age 6) and make 17 year-olds qualifying children for the year.

https://buildbackbetter.gov/wp-content/uploads/2021/01/COVID_Relief-Package-Fact-Sheet.pdf

[Deal Guy]

I wonder how he gets 10 Republicans on board?

[PlatinumGuy]

I wonder how he gets 10 Republicans on board?

By adding money for their individual interests into the bill

[cgr]

I wonder how he gets 10 Republicans on board?

They will most likely go for a Reconciliation.
https://en.wikipedia.org/wiki/Reconciliation_(United_States_Congress)

[YitzyS]

They will most likely go for a Reconciliation.
https://en.wikipedia.org/wiki/Reconciliation_(United_States_Congress)

Yeah, without raising the deficit... Hmmmmm.

[mordechain]

The D's could always be the ones who go nuclear and blow the fillibuster. They pass anything they want with 51, bring Puerto Rico and DC into the union with 4 more blue Senators. As it is the republican party will spend the next two years tearing itself to shreds.

[YitzyS]

The D's could always be the ones who go nuclear and blow the fillibuster. They pass anything they want with 51, bring Puerto Rico and DC into the union with 4 more blue Senators. As it is the republican party will spend the next two years tearing itself to shreds.

If Joe Manchin sticks to his promise to not blow the filibuster, who will they get to be their vote 50?