[ColdNoMore]

Originally Posted by Trishakaye

Give my check to a young family that needs the help. As retirees living in The Villages, if this check is necessary to buy groceries or pay bills then maybe you haven’t prepared for retirement as well as you should

While your statement is not inclusive of, nor describes, all Villager's...I completely understand your point.

If someone with an actual net worth of say 7 figures, but is easily getting by yearly with just their SS checks (and maybe part-time work to keep from being bored)...will be getting a check.

In the interest of overall fairness...that doesn't seem right to me.

It would, of course, have taken too much time to determine those who actually don't really need it because of their savings/investment/home equity/Etc., so I get why they're immediately sending it out to all SS beneficiaries and/or to whose yearly income was below the set thresholds (regardless of their actual net worth), but I wished they were able to give more to those who really need it...and nothing to those of us who don't.

It's a moot point for me personally, but it is interesting to watch on how many folks seem to be rapidly changing their minds (albeit, maybe they don't even realize it)...about socialism.

[DianeM]

Originally Posted by Trishakaye

Give my check to a young family that needs the help. As retirees living in The Villages, if this check is necessary to buy groceries or pay bills then maybe you haven’t prepared for retirement as well as you should

...

[Rango]

Originally Posted by Chatbrat

If you are fully retired, IMHO-you should not be eligible for any stimulus $$, you should be able to live on your retirement income, not get a bonus designed for people who are out of work--be a mensch and donate your check-we won't be getting one, income above the guidelines

If your adjusted gross income is $75k or above you won’t get a check

[OrangeBlossomBaby]

Originally Posted by ColdNoMore

While your statement is not inclusive of, nor describes, all Villager's...I completely understand your point.

If someone with an actual net worth of say 7 figures, but is easily getting by yearly with just their SS checks (and maybe part-time work to keep from being bored)...will be getting a check.

In the interest of overall fairness...that doesn't seem right to me.

It would, of course, have taken too much time to determine those who actually don't really need it because of their savings/investment/home equity/Etc., so I get why they're immediately sending it out to all SS beneficiaries and/or to whose yearly income was below the set thresholds (regardless of their actual net worth), but I wished they were able to give more to those who really need it...and nothing to those of us who don't.

It's a moot point for me personally, but it is interesting to watch on how many folks seem to be rapidly changing their minds (albeit, maybe they don't even realize it)...about socialism.

It's not determined by how much you get paid in a job or receive in social security. It is your adjusted gross income. That includes wages, dividends, capital gains, interest, and retirement investments.

If your "net worth" is over a million bucks, it's not likely you have most of it in cash stuffed under a mattress. You likely have it invested. And it's earning interest. If, at the end of the year, your AGI is over $75,000, you're not getting a check. If you and your significant other have an AGI over $150,000 combined, then you're not getting a check.

You don't have to be poor to get a check. And you don't have to simply live off a modest social security check to qualify for it. You have to count ALL your revenue streams.

[karostay]

Texas Holdem $1200 buy in

[DianeM]

Originally Posted by Rango

If your adjusted gross income is $75k or above you won’t get a check

Not quite. After $75k out to $99k the amount is prorated down by a percentage. After $99k, then payments stop.

[DianeM]

[QUOTE=OrangeBlossomBaby;1748810]

... If, at the end of the year, your AGI is over $75,000, you're not getting a check.



Not quite. Up to $75k you get the full $1200. After that, up to $99k, the amount is prorated down until after $99k, you do not get a check.

[Rapscallion St Croix]

Originally Posted by Rango

If your adjusted gross income is $75k or above you won’t get a check

You can double that to 150K and get 2400 if married filing jointly.

[billlaur]

Let the good times roll....

[billlaur]

Cant wait for the second check,maybe itll be more....

[OrangeBlossomBaby]

Originally Posted by DianeM

Not quite. Up to $75k you get the full $1200. After that, up to $99k, the amount is prorated down until after $99k, you do not get a check.

Thanks for the clarification on that. I'd forgotten it was reduced over 75k. It does have a limit though - and it's still not likely that someone with a net worth of over a million dollars will get a check, even if they're "living off" their social security. Possible, but not likely because it's based on AGI and not what you're using to pay the bills.

[biker1]

No, not true at all. It depends on how your money is invested and, if it is qualified money, whether you are taking distributions yet. Whether you are taking distribution from qualified money is a function of your age and other investments that may not be producing taxable income. It is not all that different than Obamacare. You can get a subsidy with a very high net worth depending on how your money is invested.

Originally Posted by OrangeBlossomBaby

Thanks for the clarification on that. I'd forgotten it was reduced over 75k. It does have a limit though - and it's still not likely that someone with a net worth of over a million dollars will get a check, even if they're "living off" their social security. Possible, but not likely because it's based on AGI and not what you're using to pay the bills.

[Chatbrat]

What would you say to a person who is getting $10K week in tax free interest who is eligible to get a check ? It can happen

[DianeM]

Originally Posted by OrangeBlossomBaby

Thanks for the clarification on that. I'd forgotten it was reduced over 75k. It does have a limit though - and it's still not likely that someone with a net worth of over a million dollars will get a check, even if they're "living off" their social security. Possible, but not likely because it's based on AGI and not what you're using to pay the bills.

It should have a limit absolutely.

[DianeM]

Originally Posted by Chatbrat

What would you say to a person who is getting $10K week in tax free interest who is eligible to get a check ? It can happen

I would say that someone always figures out a scam