Porter Rockwell
Gold Member
- Dec 14, 2018
- 6,088
- 665
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- Banned
- #1
I'n not keeping up, but Donald Trump wants to "give" every American $1000 to $2000. I don't know if this is abject stupidity OR just misapplied good intentions.
MILLIONS of people live on Social Security or Social Security Disability. If their only source of money coming in is their Social Security or Disability check, it is not income and they don't even have to file an income tax return (at least the people I know don't.) Now here is the problem:
The moment you get outside income, Social Security and Social Security Disability become "income." Since this stimulus will be handled by the IRS, they will label it income. Social Security and Disability checks will be taxable... including the stimulus. So, next year when the seniors fill out their tax forms, they will owe taxes... maybe more than what they got in the stimulus. So, they are going to be pretty well screwed. I spoke with some guy named "Kyle" in Senator David Perdue's Washington D.C. office and we had a long talk about it today. He even said seniors could not refuse the stimulus.
If seniors find out about this before the election, Joe Biden is your next president.
MILLIONS of people live on Social Security or Social Security Disability. If their only source of money coming in is their Social Security or Disability check, it is not income and they don't even have to file an income tax return (at least the people I know don't.) Now here is the problem:
The moment you get outside income, Social Security and Social Security Disability become "income." Since this stimulus will be handled by the IRS, they will label it income. Social Security and Disability checks will be taxable... including the stimulus. So, next year when the seniors fill out their tax forms, they will owe taxes... maybe more than what they got in the stimulus. So, they are going to be pretty well screwed. I spoke with some guy named "Kyle" in Senator David Perdue's Washington D.C. office and we had a long talk about it today. He even said seniors could not refuse the stimulus.
If seniors find out about this before the election, Joe Biden is your next president.