Coronavirus and Walt Disney World general discussion

[TheDisneyDaysOfOurLives]

Single taxpayers earning more than $99K annually and joint filers earning more than $198K annually won't get the stimulus check. Most of us earning these kinds of salaries? I don't think so...

Yeah, per this CNN article:

"About 90% of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center "

Senate stimulus deal includes individual checks -- but don't expect the money right away

The Senate unanimously passed a $2 trillion stimulus deal late Wednesday that includes sending checks directly to individuals amid the coronavirus crisis -- but it will likely take weeks before the money goes out.

www.cnn.com

 

[LauraRose]

Here in the UK we had a 21 year old lady die with no underlying health conditions that they know of. They is also quite a few posts from parents with young children who are very ill with the virus circulating Facebook. Very sad.

 

[TheDisneyDaysOfOurLives]

I’ll rephrase- Most families on a Disney website.

I don’t think too many families are taking frequent WDW trips if they’re making less than $75k per year.

Joint is $150K and it starts offering reduced checks up to $199K.

 

[DisneyCane]

This is from the 23rd so not totally sure if all is still accurate...

"The plan’s provisions are very simple. Adults would get $1,200 each and children $500 each. At higher incomes, the checks would get smaller: The benefit would start decreasing at a rate of $5 for every additional $100 in income. The phaseout starts at $75,000 in adjusted gross income for singles, $112,500 for heads of household, and $150,000 for married couples filing jointly; it would phase out entirely by $99,000 for singles and $198,000 for couples (with no children). "

Assuming that it remained similar, basing it on adjusted gross income covers people who make most of their money from businesses or investments so multimillionaires don't get payouts. I guess some will slip through the cracks if they just have a couple million sitting in bank accounts or very low yield investments.

 

[21stamps]

Joint is $150K and it starts offering reduced checks up to $199K.

Single caps at 99k. Lower income makes the same as people who are making 50-75. Which means, similar to the misnomer known as the “earned income tax credit”, we will be paying for low income workers to receive more than they’ve paid in, and in this case, more than they bring home in a month- whether they were actually laid off or furloughed or not.

Correct me if I’m wrong here, because I have not read thru the entire thing.. but that’s what I see based on what individual Americans will be getting.

 

[Texas84]

I won't be getting a check.

 

[TheDisneyDaysOfOurLives]

Single caps at 99k. Lower income makes the same as people who are making 50-75. Which means, similar to the misnomer known as the “earned income tax credit”, we will be paying for low income workers to receive more than they’ve paid in, and in this case, more than they bring home in a month- whether they were actually laid off or furloughed or not.

Correct me if I’m wrong here, because I have not read thru the entire thing.. but that’s what I see based on what individual Americans will be getting.

Yes, single caps at 99K. You mentioned families. Those cap at 198K if I remember correctly.

While those who may receive more than they've paid in or bringing home each month, to do additional means testing would only lengthen the time frame to get people money they need now. It's a one time check that now may not be received until May, so you have potentially people missing two months worth of checks. This is not a monthly check. This is a one time check (with no mention of a second check as was previously mentioned).

 

[Tom P.]

I’ll rephrase- Most families on a Disney website.

I don’t think too many families are taking frequent WDW trips if they’re making less than $75k per year.

For a married couple, it is up to $150,000 per year for the full amount. I would venture to say that the households of most posters here are making $150,000 per year or less. Additionally, a smaller version of the payment is available families as high as $199,000 per year.

So, yes, I would venture to say that most posters on this board will receive a payment. And, also, I think you way underestimate the number of families making less than $75,000 who go to Disney.

 

[TheDisneyDaysOfOurLives]

I won't be getting a check.

You're one of the 10%! Congrats?

 

[21stamps]

For a married couple, it is up to $150,000 per year for the full amount. I would venture to say that the households of most posters here are making $150,000 per year or less. Additionally, a smaller version of the payment is available families as high as $199,000 per year.

So, yes, I would venture to say that most posters on this board will receive a payment. And, also, I think you way underestimate the number of families making less than $75,000 who go to Disney.

For a married couple do they both need to be working to qualify for the $150 or $199k?

 

[GoofGoof]

Most of us? I think I read that some 80% of Americans will receive a check.

She meant her

and me too, but thank God I don’t need a bailout. Anytime they do something like this there are always certain people who really need help but lose out and others who get a windfall.

 

[JoeT63]

We'll get some sort of check, I suppose.

Anybody know if there's a pay-back part to this? Seems I read that we may get the privilege of repaying it when we file in 2021 (for 2020 tax year) or 2022 (2021).

 

[Lilofan]

You're one of the 10%! Congrats?

Note to all- The 1% makes sure their works harder than they do.

 

[DCBaker]

Walmart, joining the likes of Publix, Hyvee, Kroger and Albertsons, will be installing plexiglass sneeze guards in their stores.

Walmart, Albertsons, Kroger and Whole Foods are adding sneeze guards to checkout lanes

The checkout aisles at a number of the United States' largest grocery chains are going to look a little different.

www.cnn.com

 

[Kamikaze]

She meant her

and me too, but thank God I don’t need a bailout. Anytime they do something like this there are always certain people who really need help but lose out and others who get a windfall.

$1200 is not a windfall. Or a bailout.

 

[GoofGoof]

$1200 is not a windfall. Or a bailout.

It’s a windfall if you don’t need the money.

 

[TheDisneyDaysOfOurLives]

For a married couple do they both need to be working to qualify for the $150 or $199k?

No. It just bases it off of your AGI filed jointly.

 

[21stamps]

She meant her

and me too, but thank God I don’t need a bailout. Anytime they do something like this there are always certain people who really need help but lose out and others who get a windfall.

I just think this bill turned into a lot more than what it was intended to do.

There are a lot of people in the $100k-199k bracket who will see a drastic reduction income even if remain working, or furloughed, or laid off.

When we talk about places like Disney or tourism in general, that’s the bracket who will be affecting those businesses when their incomes are reduced, many other aspects of the economy too. Not saying the check would have made a difference in that, I just simply get amused at how these things always turn out.
There should be staggered amounts based on income at all levels below the ones that are set. We’re needlessly giving away money imo. But, that convo would turn political too quickly. So I’ll leave that alone.

 

[TheDisneyDaysOfOurLives]

We'll get some sort of check, I suppose.

Anybody know if there's a pay-back part to this? Seems I read that we may get the privilege of repaying it when we file in 2021 (for 2020 tax year) or 2022 (2021).

There was discussion around that, but until the bill is released, we won't know if that's been included or not. I hope it's not a rebate you have to pay back. That would be idiotic on a number of levels.

 

[Kamikaze]

It’s a windfall if you don’t need the money.

A windfall usually refers to a large amount of money. $1200 is not that. Especially when your income has gone to zero at the same time.