Libertarians against the stimulus spending

[Bible_Belt]

I have to hand it to any one person who manages to piss off everyone. It makes me think he might have a point. Maybe covid 19 will be most remembered as the breaking point of our funny money system. We keep printing more, and we are about to have much less of an economy to back it up.

$2 Trillion Coronavirus Relief Bill Presents A Reckoning For Libertarians

In years to come, how will fiscal conservatives who voted for $2 trillion attack the cost of budget items that will now look like rounding error or "decimal dust"?"

www.npr.org

 

[RickTheToad]

I have to hand it to any one person who manages to piss off everyone. It makes me think he might have a point. Maybe covid 19 will be most remembered as the breaking point of our funny money system. We keep printing more, and we are about to have much less of an economy to back it up.

$2 Trillion Coronavirus Relief Bill Presents A Reckoning For Libertarians

In years to come, how will fiscal conservatives who voted for $2 trillion attack the cost of budget items that will now look like rounding error or "decimal dust"?"

www.npr.org

Why do we still have these fools. All libraries should be turned into free Internet cafes sponsored by the tech companies. I love books too, but I get them on my Kindle.

 

[Xenom0rph]

I used to be okay with the Libertarian platform as I believed it was based on "you do your thing, I'll do my thing and we respect each other's civil liberties"....

... But then I found out these mothafvckers are pro open borders...and there is no way in h3ll I'll ever be on board with that nonsense....

....now i regard them as more of a threat than the democrats because they syphon conservative votes.....

 

[Bible_Belt]

I read today that the stimulus checks are just an advance against future tax returns. The government is going to want that money back. If a person has their taxes set to where they get nearly zero refund, then they would get a big fat tax bill next year? Under threat of irs collections and possibly even jail? No one is saving this money, and there is no reason to expect people will have it to pay back.

 

[Xenom0rph]

I read today that the stimulus checks are just an advance against future tax returns. The government is going to want that money back. If a person has their taxes set to where they get nearly zero refund, then they would get a big fat tax bill next year? Under threat of irs collections and possibly even jail? No one is saving this money, and there is no reason to expect people will have it to pay back.

Thus stimulus check will be taxable income at the federal level. Maybe some states might consider waiving it as taxable....

In CA, unemployment is considered non taxable income, maybe CA might also grant nontaxable status to the stimulus check....

This is an election year, I would encourage people to lobby their state legislature to waive the tax status of the stimulus check....

 

[Xenom0rph]

To answer your question:

If a person's income is such that their tax liability would be $0 without the stimulus check, and if their marginal tax bracket us 10%, then the taxes they would owe is $120 (10% x $1,200).....

....the full $1,200 wouldnt be due back because this isnt a loan....

 

[zekko]

If a person's income is such that their tax liability would be $0 without the stimulus check, and if their marginal tax bracket us 10%, then the taxes they would owe is $120 (10% x $1,200).....

....the full $1,200 wouldnt be due back because this isnt a loan....

I'm pretty sure this is the same way it worked when they gave out the stimulus check during the Obama administration.
I would prefer it if they took the taxes out before sending it. But I believe the argument is that they should give the extra money now because it's needed now, and they want to stimulate the economy more.

It would be nice if they gave you the option, at least, but that would probably be a bookkeeping nightmare that they don't want to deal with.

 

[Bible_Belt]

A loan isn't a taxable event.

 

[zekko]

A loan isn't a taxable event.

I've looked in this a bit, and the check is definitely not taxable (good news).
As for your claim that you will have to pay it back with next year's tax return, that does not appear to be the case. At least I haven't found anything that indicates that.

The closest I found to what you were saying is a NY Times article that said it was "technically an advance on a tax credit ", but I don't think that's the same thing.

https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html

 

[Spaz]

Does the relief bill includes subsidising paychecks, up to anywhere near 70%-80%, just to encourage companies to keep idle workers on the payroll ?

 

[Xenom0rph]

Trump was right: we cant let the solution cause more harm than the problem....shutting down businesses was a terrible idea....the economic ramifications will stay with us for years....

 

[RickTheToad]

The problem when R E P L A C I N G bound books with ebooks(aside from an EMP) is that digital book "burning" ("kindle"?) can be accomplished with a simple keystroke, from a central planning location, with or without explanation to the public, and could even be blamed on e-terrorists.

Google has made billions developing web-editing technology for nations wishing to censor what their citizens read and see, and their search engine has even made it much more difficult to find things that were easily searchable, prior to Google's existence. Silencing unpopular ideas has become a common and accepted practice everywhere from college campuses to social media.

My own personal library has thousands of bound books which it's taken me decades to collect, and many of those titles are way out of print. We like to believe that a good book will live on forever, but when I search for copies of some of my favorites from my library, they're nowhere to be found, online. They've been memory-holed.

Loompanics was a publisher of avant-garde books, for several decades, and was put out of business by the internet, not because of competition, but because of censorship. If their goodbye letter can still be found online, it's well worth a read.

Personal libraries, no issues. Tax funded libraries which no one visits is a waste of tax funds. This isn't Fahrenheit 451, and in America we still have the 1st amendment..