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  1. #1
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    STIMULUS CHECK, FURLOUGH

    Hi Guys . As a tax payer it seems i will in the future receive a stimulus check . Is this a loan , or advance against future earnings or tax repayment i may receive i say 2021 . ?. Or is it a gift off the government with out strings attached
    Also confused over furlough payments , I work for a family owned company , presently 5 guys are collecting un employment . 3 of us are still working , this contract has 5 / 7 days left . My co worker is all over the this furlough possibility, says it will be better than unemployment for the guys on it , and that if the company enacts it , every one should be on it . The owner is an independent no nonsense type of person . So does he borrow money off the government to fund it , can some techs be furloughed and some left working , can they be rotated in and out . Will the company be on the hook for repayment or more taxation , or as important future government interference . A lot of questions , but a lot knowledgeable guys here . Jim

  2. #2
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    Jul 2010
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    The $1200 checks are technically 2020 tax credits but very few will be impacted by this I believe. There are earning limits. $198,000 for a couple I believe.

    Unemployment depends on peoples wages which one is better and what is done with health insurance and what state one lives. The fed govt will pay workers an additional $600/wk plus what is received on unemployment. It would depend on the state because some pay more on unemployment than others. PA seems to be on the lower side of that. It depends on what the worker is making and if the difference is made up by the additional $600. Some may be better off being laid off or furloughed depending on their circumstances in the short term at least.

    As far as the furlough It seems it is a loan that will be forgiven. So it is basically a grant.

    This is govt interference into the economy.

    I would have thought the owner or most owners would have asked for voluntary layoffs or did it by their needs and your skills as to who gets laid off.


    Your Guide To The Federal Stimulus Package

    https://www.forbes.com/sites/advisor.../#5ca429fe2711
    Signature removed Violated rule #15

  3. #3
    Join Date
    Jan 2012
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    Broomall, PA
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    It's mostly useless and primarily used to boost confidence and the stock market, because our elected officials are afraid of not getting re-elected (yes I know everyone on both sides of the aisle voted 'yes'). Small companies get nothing except the opportunity to get a loan at a not so low interest rate, ONLY if they can't get a loan on their own. Income lost is lost forever. I'm probably continue to lose about 3k a week, and it's just gone.
    Payroll taxes are only deferred, not reduced or forgiven.
    Check from gov't is directly to you. Better would've been if everyone just applied for unemployment and received UE benefits (cash) from the gov't, including small business owners.

    Large corporations (the ones posting record profits a month ago like airlines, travel, etc) get nice packages.
    Many small business and especially restaurants are probably finished, bankrupt, and/or will basically have to start over from scratch, expect prices to be higher.
    Gov't workers, especially at the top, keep getting all their pay and benefits, so don't worried about them
    If I do a job in 30 minutes it's because I spent 30 years learning how to do that in 30 minutes. You owe me for the years, not the minutes.

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  5. #4
    Join Date
    Aug 2002
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    Southold, NY
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    2.75% interest SUCKS

  6. #5
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    Feb 2004
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    Looks like business over people. Way too much attention on saving the market. The market can be rebuilt but dead people can't.
    My understanding most of our elected are wealthy. I guess when rich people are elected we should not be surprised where their loyalty lies.
    Give me a relay with big enough contacts, and I'll run the world!

    You can be anything you want......As long as you don't suck at it.

    If a person wants to create a machine that will be more likely to fail...Make it complicated.

    USAF 98 Bomb Wing 1960-66 SMW Lu49

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  8. #6
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    May 2014
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    There's a ton of everyday worker Joe's who are not wealthy, but whose retirement is dependent on the health of the market.
    I do a triple evac with nitro to remove non condensables.

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  10. #7
    Join Date
    Mar 2007
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    Where the grass is green and the girls are pretty
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    Quote Originally Posted by pageyjim View Post
    The $1200 checks are technically 2020 tax credits but very few will be impacted by this I believe.
    There are more people eligible for the full amount than not. Many others will get an adjusted smaller amount.
    We all will be paying for it till we all are dead.

  11. #8
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    Aug 2002
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    Quote Originally Posted by itsiceman View Post
    There are more people eligible for the full amount than not. Many others will get an adjusted smaller amount.
    We all will be paying for it till we all are dead.
    Plus a few decades

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  13. #9
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    Quote Originally Posted by itsiceman View Post
    There are more people eligible for the full amount than not. Many others will get an adjusted smaller amount.
    We all will be paying for it till we all are dead.
    What are you trying to say? That this portion of the bill should have not been included? It will amount to less than corporations spent with their tax break with stock buybacks. Will we also be paying for that after we are all dead? How about the 500 billion to large corporations in this same bill? Will we be paying that back after we are all dead?
    Signature removed Violated rule #15

  14. #10
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    Quote Originally Posted by itsiceman View Post
    There are more people eligible for the full amount than not. Many others will get an adjusted smaller amount.
    We all will be paying for it till we all are dead.
    If you are trying to question my saying "very few will be impacted by this I believe." That was meant in direct response to the OP's question which was "Is this a loan , or advance against future earnings or tax repayment i may receive i say 2021 . ?" Where my response was "The $1200 checks are technically 2020 tax credits but very few will be impacted by this I believe."
    Signature removed Violated rule #15

  15. #11
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    You're completely missing the point. The federal gov should have never borrowed 2-6 trillion. Yes, there is a clause that allows the amount to easily be raised to ~6 trillion.

    Some things like international travel should be addressed at the fed level, but almost all other should be addressed at the local level.

    Certainly not trillions more in debt. Jeez.


    Quote Originally Posted by pageyjim View Post
    What are you trying to say? That this portion of the bill should have not been included? It will amount to less than corporations spent with their tax break with stock buybacks. Will we also be paying for that after we are all dead? How about the 500 billion to large corporations in this same bill? Will we be paying that back after we are all dead?
    I do a triple evac with nitro to remove non condensables.

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  17. #12
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    This is a big fail for Trump. Should have never allowed this to go through.
    I do a triple evac with nitro to remove non condensables.

  18. #13
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    Quote Originally Posted by BBeerme View Post
    You're completely missing the point. The federal gov should have never borrowed 2-6 trillion. Yes, there is a clause that allows the amount to easily be raised to ~6 trillion.

    Some things like international travel should be addressed at the fed level, but almost all other should be addressed at the local level.

    Certainly not trillions more in debt. Jeez.
    You are missing the point if you think this can be handled at the local level. You are also misconstruing how our government works. This is government working as it should be and is meant to be. You might have had a point if you said it wasn't wise to have such big tax breaks with many loop holes when the economy was in good shape.
    Signature removed Violated rule #15

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