newkidontheblock wrote: ↑Tue Mar 31, 2020 10:55 am

phuketrichard wrote:So you all think $1,200 is going to really help? yea yea, every little bit helps for sure
thats about 1 months salary for the min wage earners ( fed min wage is $7.25) in america.
or about half for those that earn $14.25 min wage, ( effective state min wage is $7.25-14.25/hr)

Ps; I dont get it as i no longer file income tax

$1200 for one person, married couple gets $2400. Kids are $500 each. So add in 2 kids equals $3100. Assuming that it’s for 1 month (there is already talk of future packages as the shut down continues), that’s $48,000 yearly before taxes. So of course it will help. Just like getting nothing will not help.

its a 1 time off payment, get real, how long could the goverment pay out $$ without going bankrupt.?
No people working, no businesses open...no tax's collected

I paid Thai Post over 800 Baht, $24 on June 15th for their so called EMS express service. As of July 5th the tracking only says it was "processed" at Suvarnabhumi, it doesn't say it departed. The USPS has no record of it. Forget express mail here or likely in Cambodia too, use DHL or FedEx. Yes, they're expensive at about $65 but they consistently deliver in 4 days from the USA.

They must have known they didn't have the ability to deliver it in the promised 7 days but they took my money anyway. It borders on absolute fraud, but of course there is no recourse here.

The purpose of the handout was not to support the citizenry, the poor, or any person. Especially, the benifits were not targetted at expats.
It is an economic stimulous measure - designed to put a shot of instant cash straight into the lifeblood of the economy to stop it falling over.

It was a lesson learned from countries that did this immediately after the GFC. It is, eg, one of the crucial measures that is credited with saving the australian economy from hardly missing a heartbeat from that crisis.

In Oz, for both the GFC and for Covid, they targeted the less well off. The cash handouts were given to anybidy on any kind of pension or other social security benefit.

It was not designed to help the poor, it is because this measure is most effective if it is targeted there - because they go straight and buy shit with the cash.
All the money the poor get immediately hits the cash registers of the local shops and then keeps going round and around in the real economy.
More well off people tend to put more of it into savings, paying down debt, or other avenues that divert it fron the real intention - to pump cash into the real life merry go round.

Expats should not get it at all according to the intended porpoise

SternAAlbifrons wrote: ↑Mon Jul 06, 2020 2:33 am The purpose of the handout was not to support the citizenry, the poor, or any person. Especially, the benifits were not targetted at expats.
It is an economic stimulous measure - designed to put a shot of instant cash straight into the lifeblood of the economy to stop it falling over.

It was a lesson learned from countries that did this immediately after the GFC. It is, eg, one of the crucial measures that is credited with saving the australian economy from hardly missing a heartbeat from that crisis.

In Oz, for both the GFC and for Covid, they targeted the less well off. The cash handouts were given to anybidy on any kind of pension or other social security benefit.

It was not designed to help the poor, it is because this measure is most effective if it is targeted there - because they go straight and buy shit with the cash.
All the money the poor get immediately hits the cash registers of the local shops and then keeps going round and around in the real economy.
More well off people tend to put more of it into savings, paying down debt, or other avenues that divert it fron the real intention - to pump cash into the real life merry go round.

Expats should not get it at all according to the intended porpoise

Going to have to disagree with you there. Firstly I think the USA handout was because they were thinking about the elections were coming up.

And as for money going round and round ,,, If someone spends $1 ,,, the government collect GST, and the receiver of that $1 pays tax,,, so there is probably only .70 c to continue going round . By the time that happens 3 or four times there is nothing to go round and round cause the government has received it all back in taxes.

Duncan wrote: ↑Mon Jul 06, 2020 6:08 am

SternAAlbifrons wrote: ↑Mon Jul 06, 2020 2:33 am The purpose of the handout was not to support the citizenry, the poor, or any person. Especially, the benifits were not targetted at expats.
It is an economic stimulous measure - designed to put a shot of instant cash straight into the lifeblood of the economy to stop it falling over.

It was a lesson learned from countries that did this immediately after the GFC. It is, eg, one of the crucial measures that is credited with saving the australian economy from hardly missing a heartbeat from that crisis.

In Oz, for both the GFC and for Covid, they targeted the less well off. The cash handouts were given to anybidy on any kind of pension or other social security benefit.

It was not designed to help the poor, it is because this measure is most effective if it is targeted there - because they go straight and buy shit with the cash.
All the money the poor get immediately hits the cash registers of the local shops and then keeps going round and around in the real economy.
More well off people tend to put more of it into savings, paying down debt, or other avenues that divert it fron the real intention - to pump cash into the real life merry go round.

Expats should not get it at all according to the intended porpoise

Going to have to disagree with you there. Firstly I think the USA handout was because they were thinking about the elections were coming up.

And as for money going round and round ,,, If someone spends $1 ,,, the government collect GST, and the receiver of that $1 pays tax,,, so there is probably only .70 c to continue going round . By the time that happens 3 or four times there is nothing to go round and round cause the government has received it all back in taxes.

I think this stimulus would have happened regardless of elections. Great Depression II doesn’t work well for anyone. The cash went to the wrong audience though if strictly based on need. Sure some folk got $1,200 which went farther for someone in rural Tennessee than in NY. A bunch also went to nice big corporations with connections to politicians and who give nice donations.

As far as taxes, since it’s not treated as income the gov isn’t getting it that way. Sales taxes are local, so I’m going to have to disagree at the federal level. It is designed to keep the economy afloat via “velocity of money.”

The interesting questions are:

1) How long are we going to keep this going?
2) How many deaths until we’ve burned through the virus open the economy? (We are taking any other sensible approach)
3) How will consumer habits change as a result? (Job loss affects long term spending and saving behavior. The longer the loss the less likely to spend.) The restaurant industry may never recover in my lifetime.

Big Daikon wrote: ↑Mon Jul 06, 2020 5:53 am

SternAAlbifrons wrote: ↑Mon Jul 06, 2020 2:33 am Expats should not get it at all

Why shouldn't we? I file with the IRS. I sometimes pay American taxes.

(I'll brag a bit here. Getting money from two governments.)

I was just pot stirring a bit with that comment, D.
But it is true in the sense that the purpose of the $$$ was to stimulate the US economy. You can't do that if you don't spend it in the USA.

But, ethically and practicly speaking, i guess the bottom line for ever individual is
TAKE IT! with a song in your heart and a wide cheeky grin on your face.
( as you undoubtable have, Big D. I can see it from here)
-

John Bingham wrote: ↑Mon Jul 06, 2020 1:39 am How's that $1200 stretching now four months down the line?

I think it’s $3k for married with kids. Looks like they’re about to send another in about a month