OFFICIAL 2020 STIMULUS CHECK THREAD

My issue with income limits is that it's a flat limit. It shouldn't be "50k=$1400 stimulus." It should be "50k-59k=$1400 stimulus." Imagine being someone struggling through Covid and you get less stimulus because you made $53k and someone else made $50k and gets more money

When I was younger.

My mom, single, with 3 young kids, got the boot from an apartment we were in for some years because they switched to section 8 housing only.

She made like a few hundred more then the threshold at that time.

I say this to say if someone made 60k, they would have a problem.

There will always be a line drawn.
 
I would also like to say that unemployment SHOULD NOT COUNT towards your income.

Its assistance!
Is all of unemployment taxable? I thought it was just the $600 or $300 extra weekly? Most are getting 53% of their top threshold for a short amount of time, and that’s taxable?
I can see the extra being tax sale but not what you already paid into.
 
Lol idk about west coast but 75k is more than enough in ny. I know this is Nt we're not exactly the wisest spenders but let's not leave reality entirely
 
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Is all of unemployment taxable? I thought it was just the $600 or $300 extra weekly? Most are getting 53% of their top threshold for a short amount of time, and that’s taxable?
I can see the extra being tax sale but not what you already paid into.

Would like an answer as well.
 
75k is not enough in California for anything. If you are responsible and take money out for 401k you are left with like 60% of your paycheck. That’s a weaksauce $45,000.

A normal 1 bedroom averaged out across California is going to run $2k. Let’s throw another $600 toward a student loan.

That’s $32k gone. That leaves a little over $1k for food, car note, unexpected expenses, etc.

People wildly overestimate what 75k gets. You have to be living like an immigrant and shacking up with 2-3 other people for housing if you ever want to get ahead at a 75k rate.
 
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75k is not enough in California for anything. If you are responsible and take money out for 401k you are left with like 60% of your paycheck. That’s a weaksauce $45,000.

A normal 1 bedroom averaged out across California is going to run $2k. Let’s throw another $600 toward a student loan.

That’s $32k gone. That leaves a little over $1k for food, car note, unexpected expenses, etc.

People wildly overestimate what 75k gets. You have to be living like an immigrant and shacking up with 2-3 other people for housing if you ever want to get ahead at a 75k rate.


So the whole state of California is like this?

Why?

State government?
 
For some people 50k is actually 45k after taxes. On other hand there’s quite a large population where 50k is actually 35k after taxes, healthcare etc. Now if your spouse doesn’t make much but also does not qualify for a check, how is that going to work
 
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