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Did You Get Your Biden Letter? Or, Why Prices Aren't Coming Down Anytime Soon.

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  • TX OMFS

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    We got ours. Came in an IRS envelope, from the White House, signed by POTUS. I expected a Crayon signature but they got it in black ink.

    It's all about the new child tax credit. $250 to $300 per kid per month.

    Apparently these jerks don't think my family works. We won't get a dime. Well, except for the bill.


    Say hello to $7 milk and $4/lbs for onions. Wisdom teeth & dental implants ain't getting any cheaper, either.

    At least this will get us one step closer to a complete collapse & the ability to start over. Kinda like Cuba in 1958-59.

    Damn.
    Guns International
     

    Sasquatch

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    And they keep talking about a *4th* round of currency devaluing "stimulus" checks... **** it, why not give everyone $10k, or 20, or 30, or how about we just give *everyone* $100,000 each. I mean, those in the first week of payments could pay off a car, maybe buy a house. By week two, everything is going to quadruple in price, so they better save back $30k for groceries.
     

    CyberWolf

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    And they keep talking about a *4th* round of currency devaluing "stimulus" checks... **** it, why not give everyone $10k, or 20, or 30, or how about we just give *everyone* $100,000 each. I mean, those in the first week of payments could pay off a car, maybe buy a house. By week two, everything is going to quadruple in price, so they better save back $30k for groceries.
    One problem I can think of that'll rear it's head PFQ is that some people aren't getting any of that shit...except the bill, as previously mentioned.
     

    Sasquatch

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    I'd be curious to know some figures on this. Those who are receiving the child credits, I wonder just how many of those are also receiving welfare benefits, food stamps, housing and utility assistance as well?

    A lot of people qual for the CTC who are way above welfare-recipient range. My wife and I qualify for it. Single people earning $75k qualify. Couples double that. The shenanigans they did with the CTC this year, you can earn upto a quarter mil and still get a partial CTC payment. We're getting $250 Big Daddy Biden Bux per month thru December.

    If the CTC has to be a thing, it should be income capped at 30k single/60k for a couple. They're "giving" you $3,000 per kid under 17 years of age. Its entirely possible for those who have weak pullout game, or wish to field their own sportsball team with their own DNA to get far, far, far, far, far more back in one year via CTC than they'd pay into the system in a decade.
     

    Sasquatch

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    One problem I can think of that'll rear it's head PFQ is that some people aren't getting any of that shit...except the bill, as previously mentioned.

    Oh, most certainly. That's why I want to see them do it. Give everyone stupid amount of money - because at least you can wipe your ass with dollar bills when you have trash bags full of them. Toilet paper got damn scarce in 2020 for a while. They're pushing us into an economic collapse, I just don't want to see that drawn out over a long, painful period. Crash this shit so we can go through the collapse more quickly, and get down to rebuilding. I don't think even Donald Trump's economic policies could stave off another depression at this point. Our national debt is stupidly high, and they're spending money that my grand kids will be paying off.
     

    TheDan

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    I mean, those in the first week of payments could pay off a car...
    That's when the real fun starts. People who's income has inflated are going to be paying off debt while people who's income hasn't will be defaulting on it. Velocity is going to drop to zero. The whole "debt is money" farce they've been perpetuating for 100 years is coming to an end.
     

    Axxe55

    Retiretgtshit stirrer
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    Lost in East Texas Elhart Texas
    A lot of people qual for the CTC who are way above welfare-recipient range. My wife and I qualify for it. Single people earning $75k qualify. Couples double that. The shenanigans they did with the CTC this year, you can earn upto a quarter mil and still get a partial CTC payment. We're getting $250 Big Daddy Biden Bux per month thru December.

    If the CTC has to be a thing, it should be income capped at 30k single/60k for a couple. They're "giving" you $3,000 per kid under 17 years of age. Its entirely possible for those who have weak pullout game, or wish to field their own sportsball team with their own DNA to get far, far, far, far, far more back in one year via CTC than they'd pay into the system in a decade.

    I was asking more out of curiosity since I never had kids and never received such benefits.

    Still sounds bogus though. A person single earning $75K a year needs a child credit? How were people supporting and taking care of their children before these child credits became a thing?
     

    Sasquatch

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    I was asking more out of curiosity since I never had kids and never received such benefits.

    Still sounds bogus though. A person single earning $75K a year needs a child credit? How were people supporting and taking care of their children before these child credits became a thing?

    The "Child Tax Credits" never actually go tot he children, at least not directly. They might get a playstation or some toys or a few clothes out of it, but more often than not the recipients buy shit for themselves. Its welfare with a flowery name.

    I've always wound up a wash, or owing tax-wise until this year. Since we left the confiscatory personal income tax structure of the left coast half way through last year, I somehow managed to actually get a few of my schekles back from the state of Oregon. I've *always* somehow managed to owe those cocksuckers, even if I happened to get a federal return. For the last four years of being self employed, I've owed Fed taxes until this year, but business was pretty shit last year and pre-payments wound up being more than the tax bill owed came to be.

    My wife has a former friend who is a welfare queen who figured out how to game the damn system. She had a kid with a now-deceased husband (they divorced prior to his earthly departure), then she got knocked up by a guy who wound up in the care & custody of the US Bureau of Prisons because he was a diddler. She was supposed to get married to that guy, but then while he's been in prison, she got knocked up by a third guy and squoze out baby number three. Wife told me a while back that this chick whom I named Trailer Park is pregnant with number four. Keep in mind, this woman is pushing 40. Her last kid is probably special needs, and if #4 goes to term, there's a high likelihood its gonna be special needs too. She was bragging about getting almost $11,000 "back" in taxes this year. "Back" is in quotes, because she's been on welfare for years, and has not been gainfully employed in at least three years. The monies she received from the IRS this year was another straight up form of welfare, as she hasn't paid a penny in in years.

    My wife & I have had our financial struggles, we've had good years. We managed to live and support a baby on $40k gross without gubmint assistance. Its readily done today - but its far easier for people to take the gubmint cheese and say "yes massa, thank you massa"

    Look at the federal unemployment "bonus" - a lot of people making more on unemployment than they did working. A lot of people who still made more working figured out they could survive on less, and stopped looking for work. Thankfully Texas ended that nonsense, but its still going strong in most of the country.

    No doubt in my mind this is an engineered collapse. The current admin's policies sure ain't aimed at giving us all bright, successful futures!
     

    CyberWolf

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    Oh, most certainly. That's why I want to see them do it. Give everyone stupid amount of money - because at least you can wipe your ass with dollar bills when you have trash bags full of them. Toilet paper got damn scarce in 2020 for a while. They're pushing us into an economic collapse, I just don't want to see that drawn out over a long, painful period. Crash this shit so we can go through the collapse more quickly, and get down to rebuilding. I don't think even Donald Trump's economic policies could stave off another depression at this point. Our national debt is stupidly high, and they're spending money that my grand kids will be paying off.

    Not that you don't have some solid points, but (short version) IMHO, I believe there are certain preconditions which must be met in order for any reasonably satisfactory outcome to be achieved...and I'm not talking 'individual' level here.

    From my perspective, it appears that some of those conditions seem to be nearing a level of "maturity", while others appear to be in a more nacent state.

    I believe there is a plan, there is hope, but it will not be easy; it can't be, that would defeat the purpose.

    ^Also know how that sounds...don't give a shit; I can feel the truth of this despite being unable to explain/articulate why. Paradox...
     

    TX OMFS

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    Our national debt is stupidly high, and they're spending money that my grand kids will be paying off.

    I think our great-great-great-grandchildren won't be paying this off.

    In 2020 the feds went $3 trillion in the hole. They stole $3.4 trillion and spent $6.5 trillion.

    I don't see a way out. We need to cut spending by more than half to even begin to pay off our debt.

    Even most "conservatives" will balk at the level of austerity required to pay off the debt. Entitlements would have to be halted or massively shaved. That will cause civil unrest on both sides of the aisle because too many people "deserve" what they're getting.
     

    kbaxter60

    "Gig 'Em!"
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    Jan 23, 2019
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    We got ours. It came with an IRS return address. So I think "great..." Then, I read it and found it was much worse than I had even imagined.I guess thank you, you creepy old demented fool. And I say that with full understanding of the elder abuse that "Dr" Jill and the rest of Joe's family are performing daily.It's truly sad and disgusting at the same time.
     
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    BeatTheTunaUp

    Fux with the best, Die like the rest
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    Oct 17, 2012
    2,103
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    Temple TX
    So I'm no fan of these payments, but for working people, this isn't free money. They're just prepaying your tax return early. Come tax time, your return will be next to nothing because they doled it out over the months.
     

    toddnjoyce

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    I think our great-great-great-grandchildren won't be paying this off.

    I don't see a way out. We need to cut spending by more than half to even begin to pay off our debt.
    Why do you think the Ds want to tax capital gains in retirement accounts? There’s $35T in various qualified vehicles out there that currently just waiting to transfer to inheritors they’re targeting.

    It started in 2019 with the SECURE Act (thank you Ds, Rs, and Trump) with inherited IRAs having to be liquidated within 10 years of transfer for most beneficiaries. Whether it’s a traditional or Roth account, Uncle Sam is going to tax a bite off those distributions in an accelerated manner.

    Depending on which D plan you look at today, beneficiaries stand to loose the basis step up and/or tax deferral while .gov effectively takes two giant tax bites (one on income, one on cap gains) when someone passes. If you want to wipeout private wealth in a heartbeat and push folks out of the stock market and into insurance policies, annuities, or cash, that’s a perfect way to do it.
     
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    wiredgeorge

    Older than I was yesterday!
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    Dec 10, 2010
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    I wonder how many votes Uncle Joe believes he is buying? Will those who receive these hand outs now default to Democrat and become blind to the situation with the economy, the border, the lack of respect around the world?
     
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