If you make over 75,000 a year, are you rich? (hell)

[nutshell]

Originally Posted by NoahideHiker

Well, according to my accountant (the wife) we screwed up. She worked her @ss off this year and got a few raises. I got a great new job where I'm making more than the last job. So we make too much to get a rebate check. But the "disabled" woman next door who doesn't work but cleans her gutters, rides motorcycles, gardens, mows, babysits under the table and pays no taxes will be getting the maximum allowable amount.

G-d bless America!

So you and your wife must make well over $150K. Oh - boo hoo.


From the IRS:

"Eligibility for the stimulus payment is subject to maximum income limits. The payment, including the basic amount and the amount for qualifying children, will be reduced by 5 percent of the amount of income in excess of $75,000 for individuals and $150,000 for those with a Married Filing Jointly filing status."

As for the "disabled" person, how could you possibly know her tax status? If she pays no taxes she's not getting the maximum benefit.

[NoahideHiker]

Originally Posted by nutshell

So you and your wife must make well over $150K. Oh - boo hoo.

Forgive me if redistribution of wealth makes me a little cranky.

[nutshell]

Originally Posted by NoahideHiker

Forgive me if redistribution of wealth makes me a little cranky.

The point of the rebate is to stimulate the economy by encouraging spending. You already have the money to spend - others do not.

[NoahideHiker]

Oh I know what the "point" of the rebate is. The only thing is that it won't work. Short term it is like applying a band aid to a decapitation and long term it is just more money give aways we don't even have.

And, of course, it is unfair that only a certain sector of our society will receive a check. But because it is the $75,000+ that get to pay the bill but get shut out no one cares. If it was everyone below $24,000 that didn't get anything everyone would throw a hissy fit.

[nutshell]

Originally Posted by NoahideHiker

Oh I know what the "point" of the rebate is. The only thing is that it won't work. Short term it is like applying a band aid to a decapitation and long term it is just more money give aways we don't even have.

And, of course, it is unfair that only a certain sector of our society will receive a check. But because it is the $75,000+ that get to pay the bill but get shut out no one cares. If it was everyone below $24,000 that didn't get anything everyone would throw a hissy fit.

Well, I'm not here to debate whether the rebate works or not - in fact, I agree with you - I don't think it will.

As for what's unfair or not - that's a matter of perspective.

[NoahideHiker]

"Fair" is such a muddied word these days. It's like trying to figure out what is "good". Now a word that can be nailed down is "equal". That is a great word that should be self explanatory but even it is being used in the cause of redistribution of wealth.

[NoahideHiker]

Originally Posted by UltraViolet

I'm not complaining mind you,
but until you have hit some major downfall,
like a failed business...
or a lost business/income
(due to illness, death, childbirth, or a spouse leaving)...
and you have four children,
even if you start out before your loss with 0 debt,
one small season of difficulty
can put you under for years and years.
Even when you live as frugally as we do.

Best not to lump everyone together.

Many many many of us live frugally and are struggling majorly.
We did not invite our debt, but we had to buy groceries and pay utility bills somehow.

I agree. Sometimes we find what we were meant to do with our lives and that thing simply may not pay the best. I do agree it is easier (or it always has been in the past) to make it in America. But at the same time I'm not going to tell someone they are a loser for not having a bunch of money.

Some people have never known real desperation. Some have never had disaster come into their family. Some people have lived their whole lives without an illness. Some people simply don't know what others go through.

I consider myself rich even if I only made minimum wage because I see the blessings I have in my life every single day.

[9-10ths_Penguin]

Originally Posted by NoahideHiker

And, of course, it is unfair that only a certain sector of our society will receive a check. But because it is the $75,000+ that get to pay the bill but get shut out no one cares. If it was everyone below $24,000 that didn't get anything everyone would throw a hissy fit.

However, you could think of it as a one-time retroactive tax adjustment. You got your final rate right up front; everyone else had the government hold onto their money for months when it really shouldn't have had the money to begin with.

Kind of like with tax returns. All else being equal, I suppose it's better to have money in your pocket, but when people say, "Hooray! I got a big cheque from the government!" I hear, "Hooray! I gave the government a big interest-free loan all year!"