what are you going to do with your"Stimlius check"?

[Z mann R2]

Again, if you are working and get money from the government and spend it on mods or non essential ****, you dont need money from the government. Stop being a mooch.

I’m Canadian and my family doesnt meet any of the criteria’s for any of the emergency funds nor do we need any. Seems like people see this as free money and just wanna **** the system because they are mooches.

you do realize it’s a STIMULUS CHECK and spending it on LITERALLY ANYTHING WILL STIMULATE THE ECONOMY!!!! Which is the main purpose of the freaking check!!! How bout the businesses making these mods that are hurting for literally any type of business right now??? Ever stop to consider that?? Get off your high horse.
Side note unfortunately I can’t receive a check as im above the cutoff so I don’t have a horse in this race

 

[Hsmith5]

None for this household..... If y'all are using it for mods, you shouldn't be getting anything.... JMO

The stimulus is to help keep the economy afloat and help small businesses survive without the need of a grant or loan. Hopefully those that do get it use it wisely, even if it is for mods to help their local businesses keep the doors open provide for their families.

 

[Z mann R2]

It’s not like they’re buying a Samsung TV where the money goes to Japan. Most mods for our trucks are from American businesses. It’s stimulating those businesses. How the hell is this so hard to understand??

 

[aametzger]

I'll Play...
No check here... A couple of things I find interesting about this thread though.

• I realize this has been a small sampling of posters but seems like about 60%-70% of the posters are not getting a check - shows how expensive these trucks are
• It's interesting that some people believe they should have a say about how other people spend their money - save it, spend it, burn it, etc - It's not my business

I hope that everyone stays healthy and anyone who is affected negatively with job loss, etc can make a good recovery after this is all over. I personally really feel for all the small businesses that are hit hard and hope they are able to weather this storm and stay in business.

 

[UKreject]

yep me too

Trying to leave nice tips when we get take out.

 

[Joeyp]

Fox coilovers to complete my BDS kit

 

[5thGenRebel_AMK]

You're not really paying for everyone else. People are basically getting an advance on their 2020 refunds. Can't wait for people to complain at tax refund season next year that they aren't getting enough, like they even should be getting anything back...

that's not true. the legislation is currently worded a little confusing, but people are not going to "owe" money next year due to this. this money is non-taxable, and it is NOT netted against next year's refund. What will occur however is that people who are above the AGI & phaseout limit's for 2018/2019 will be able to qualify for a recovery rebate when they file their 2020 tax return if their income is within the limits then. This would mainly impact the people who are retiring sometime this year and will no longer have the high income next year. Or people who have made sizeable rebalances in taxable portfolio's causing their AGI to be much higher than normal in the past tax year. ***This is not intended to be used as tax advice, and please consult your actual CPA if you have questions on this.
It would be awesome if you could support local businesses with this stimulus money. There's a lot of businesses that are still trying to stay open during this so that they can eat and support their family. If we're driving around our expensive 5th gens, i hope none of us are actually in that situation. just my two cents

 

[SpeedyV]

It’s not like they’re buying a Samsung TV where the money goes to Japan. Most mods for our trucks are from American businesses. It’s stimulating those businesses. How the hell is this so hard to understand??

Not that it really matters here, but Samsung is South Korean.

 

[OldMarine]

..if you are NOT getting a check...you need more "creative" deductions, or a better accountant! lol....

 

[gotmeahemi]

Not that it really matters here, but Samsung is South Korean.

Sent from my iPhone using Tapatalk

 

[Timeless]

It’s not like they’re buying a Samsung TV where the money goes to Japan. Most mods for our trucks are from American businesses. It’s stimulating those businesses. How the hell is this so hard to understand??

Not that it really matters here, but Samsung is South Korean.

Not that is matters but sales tax would still be collected to help your local state.

And I am sure Samsung USA which provides the TVs here in the US have employees that work here in the US...and I am sure some US worker would be involved shipping this to you if you did not do local pickup...and local pickup would help a local employee...and etc...etc...

 

[Brad460]

..if you are NOT getting a check...you need more "creative" deductions, or a better accountant! lol....

Agreed...I wonder if most posting in here realize it’s based off your adjusted income..

Also, cost of living is a factor- someone in an area with a high cost of living might make a high income and not qualify, but could use the stimulus check more than someone making much less.

 

[chrisnack]

..if you are NOT getting a check...you need more "creative" deductions, or a better accountant! lol....

No amount of deductions can reduce income for high earners. Unless you are committing fraud.

As someone who pays more in taxes than most people make in a year. The difference between the top 1% and those of us in the top 5% isn’t even a comparison. It’s like comparing an ant to a Boeing 747.

I have done plenty of stimulating the economy over the last few months. I do my part much to my wife’s disagreement

I feel for anyone struggling to make ends meet. Hang in there.

Spend the money on whatever you need or want. All I say is the read the beer/tax explanation. Don’t complain when those of us who didn’t get something this time around get some tax breaks later. But I know that won’t happen

 

[chrisnack]

Here’s the beer/tax explanation for anyone that hasn’t seen it.


Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving). The sixth now paid $2 instead of $3 (33% saving). The seventh now paid $5 instead of $7 (28% saving). The eighth now paid $9 instead of $12 (25% saving). The ninth now paid $14 instead of $18 (22% saving). The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!” “That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

 

[jthorn75]

im giving away half to those less fortunate and saving the other half in case its needed.

 

[Wheeler]

..if you are NOT getting a check...you need more "creative" deductions, or a better accountant! lol....

It is ADJUSTED GROSS INCOME (AGI)
not many deduction apply to AGI. Earning 99 grand in Los Angeles, San Francisco or New York is equal to earning 40 grands in Memphis or Jackson in Mississippi.

 

[MannymanX]

I'm upgrading my 8.4 nav to 12", getting hummer wheels and supercharging my HEMI.

OOPS, forgot i don't get one...

 

[Rammit]

Here’s the beer/tax explanation for anyone that hasn’t seen it.


Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving). The sixth now paid $2 instead of $3 (33% saving). The seventh now paid $5 instead of $7 (28% saving). The eighth now paid $9 instead of $12 (25% saving). The ninth now paid $14 instead of $18 (22% saving). The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!” “That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

I love that story as it actually perfectly relates how our tax system works. Unfortunately the media spreads lies like the bush and trump tax cuts only benefits the wealthy and most people are dumb enough to believe it. If you actually look at the cuts, the low end earners got a large cut and the limit was raised significantly for earners to pay zero federal income tax. The bar story details exactly why socialism does not and will not ever work in the long term. Sooner or later you run out of others peoples money!

 

[chrisnack]

I love that story as it actually perfectly relates how our tax system works. Unfortunately the media spreads lies like the bush and trump tax cuts only benefits the wealthy and most people are dumb enough to believe it. If you actually look at the cuts, the low end earners got a large cut and the limit was raised significantly for earners to pay zero federal income tax. The bar story details exactly why socialism does not and will not ever work in the long term. Sooner or later you run out of others peoples money!

yeah it’s not perfect but does illustrate the general mentality

 

[silver billet]

Here’s the beer/tax explanation for anyone that hasn’t seen it.


Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving). The sixth now paid $2 instead of $3 (33% saving). The seventh now paid $5 instead of $7 (28% saving). The eighth now paid $9 instead of $12 (25% saving). The ninth now paid $14 instead of $18 (22% saving). The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!” “That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

I've seen this before, it's just wrong. Take a simple mathematical fact (due to rule of exponents); once you're rich, it's easier to double your income quicker, than somebody who makes half the amount that you do. The more you make, the easier it is to make more.

Second problem; there is a number, a yearly income, below which it is impossible to climb out of poverty or improve your wellbeing. It costs a lot more money to be poor, you have to buy poor quality clothes/equipment, so it costs you more in the end.

I could go on, but why bother? In the end the poor will still be envious of the rich, and the rich will mostly ignore the poor. Sympathy, empathy, and love toward your neighbour can go a long ways to making life easier for those less fortunate.