So I Mean...The American Recovery Act of 2021 Basically Creates UBI if You Have Kids

[AFrench2]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

 

[OldLady]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

Is that instead of a bigger refund or on top of it?

 

[AFrench2]

On top of it! The refund is no longer a refund, though, that's the thing! It is turning into a payment system throughout the entire year, basically!

That's the entire thing. You no longer need to look at the tax credit at it as a "once a year thing you get in April". This bill is turning it into 6 payments throughout the entire 2nd half of the year (July - December). American parents and heads of household will no longer have to wait once a year for their tax credit money.

They feel that this monthly money will help during "school supply" months (end of Summer) and then the holidays.

 

[OldLady]

On top of it! The refund is no longer a refund, though, that's the thing! It is turning into a payment system throughout the entire year, basically!

That's the entire thing. You no longer need to look at the tax credit at it as a "once a year thing you get in April". This bill is turning it into 6 payments throughout the entire 2nd half of the year (July - December). American parents and heads of household will no longer have to wait once a year for their tax credit money.

They feel that this monthly money will help during "school supply" months (end of Summer) and then the holidays.

That has always made sense to me. As a very broke single parent for a lot of years, the monthly payments would have been a lot more helpful.

 

[Mac-7]

That has always made sense to me

Thats why we call you people socislists

 

[Thoth001]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

I guess it is a miracle you have atleast done some "light" reading. That is a start.

You know that money don't come from a money tree don't you? Maybe for your next learning experience. Do some math.

 

[OldLady]

That has always made sense to me

Thats why we call you people socislists

Instead of getting one big check in April, it makes sense to have the money in hand each month when the bills come due and there are groceries to buy.

 

[OldLady]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

I guess it is a miracle you have atleast done some "light" reading. That is a start.

You know that money don't come from a money tree don't you? Maybe for your next learning experience. Do some math.

I got the impression the money was getting paid anyway, just in one big check as part of the refund. This just breaks it up?

 

[AFrench2]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

I guess it is a miracle you have atleast done some "light" reading. That is a start.

You know that money don't come from a money tree don't you? Maybe for your next learning experience. Do some math.

I got the impression the money was getting paid anyway, just in one big check as part of the refund. This just breaks it up?

That is correct. The Trump administration raised the Child Tax Credit, this bill merely splits it up into monthly payments This is a gamechanger. It will be interesting to see what happens here.

 

[Mac-7]

Instead of getting one big check in April, it makes sense to have the money in hand each month when the bills come due and there are groceries to buy.

The entire unEarned Income Tax Credit scam is socialism and should end

you should see the wild look in the eyes of mothers with children each year when the free money arrives and they run out to spend it on expensive trinkets

nor will busting up the plunder into smaller monthly checks make any difference because the Rent-to-own and payday lending vultures are just waiting to pounce on these dumb women

 

[Mac-7]

Instead of getting one big check in April

April?

the women file their taxes in January and take out loans based on the refund the same day

 

[Moonglow]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

I guess it is a miracle you have atleast done some "light" reading. That is a start.

You know that money don't come from a money tree don't you? Maybe for your next learning experience. Do some math.

I got the impression the money was getting paid anyway, just in one big check as part of the refund. This just breaks it up?

It almost makes me want to have kids again..

 

[pknopp]

We have had UBI for the markets for decades now. Why not for the kids?

 

[MisterBeale]

On top of it! The refund is no longer a refund, though, that's the thing! It is turning into a payment system throughout the entire year, basically!

That's the entire thing. You no longer need to look at the tax credit at it as a "once a year thing you get in April". This bill is turning it into 6 payments throughout the entire 2nd half of the year (July - December). American parents and heads of household will no longer have to wait once a year for their tax credit money.

They feel that this monthly money will help during "school supply" months (end of Summer) and then the holidays.

With UBI, you don't need a job to get it.

With a tax credit? You still need to be employed and make that money in order to have a tax break.

If you didn't make that money. . . you won't get it back in those six payments.



Not even close to UBI. UBI gives money to folks that don't work.


Sorry, would you like to try again?


The difference between a liberal and a conservative? A liberal views all money as the government's, so tax breaks are just government money that the government lets you keep.

A conservative OTH, views a persons money as their own. So any money that the government doesn't steal. . . IS NOT theirs to begin with.

Tax breaks are not government's give away in the mind of a conservative. Only in the mind of a liberal. OTH, in the mind of a conservative, if the government gives away money that is unearned, and previously was not owned by someone? THAT is a government give away.

 

[Desperado]

They are going to be depositing $200 per child ($250? $300?

Is there a maximum number of kids or is the US rewarding the welfare queens to go have more kids?

 

[WinterBorn]

The "Big Refund" mentality is laughable. I know people who purposefully don't claim dependents when they fill out their tax forms for their employers, so they can get a bigger refund (by then claiming dependents).

This is basically giving the gov't an interest free loan for the year. If you get more than a couple of hundred back on your taxes, you need to rework your withholdings.

 

[pknopp]

On top of it! The refund is no longer a refund, though, that's the thing! It is turning into a payment system throughout the entire year, basically!

That's the entire thing. You no longer need to look at the tax credit at it as a "once a year thing you get in April". This bill is turning it into 6 payments throughout the entire 2nd half of the year (July - December). American parents and heads of household will no longer have to wait once a year for their tax credit money.

They feel that this monthly money will help during "school supply" months (end of Summer) and then the holidays.

With UBI, you don't need a job to get it.

With a tax credit? You still need to be employed and make that money in order to have a tax break.

If you didn't make that money. . . you won't get it back in those six payments.



Not even close to UBI. UBI gives money to folks that don't work.


Sorry, would you like to try again?


The difference between a liberal and a conservative? A liberal views all money as the government's, so tax breaks are just government money that the government lets you keep.

Whose money is it that the Fed is pumping into the markets?

 

[LordBrownTrout]

Economic collapse is about to happen. We're about to go hyperinflation.

 

[iamwhatiseem]

So I was doing some light reading today and this new Child Tax Credit that Biden is setting up looks great. They are going to be depositing $200 per child ($250? $300? I've heard 2 different numbers -- if the kid is under 6) monthly from the months of JULY - DEC each year going forward with the new Child Tax Credit. That means a family of 4 kids gets $800 or more each month JULY - DEC.

So the new bill signed essentially does what Andrew Yang was wanting when he ran in 2019: give $1000 checks to (some) Americans each month. Very cool. This will allow children food at the lunch line, and allow parents to help with clothing and other school-related items each month if they are a low income family.

American Rescue Plan Act passes with many tax components

The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

www.journalofaccountancy.com

Obvious troll is obvious

 

[LordBrownTrout]

On top of it! The refund is no longer a refund, though, that's the thing! It is turning into a payment system throughout the entire year, basically!

That's the entire thing. You no longer need to look at the tax credit at it as a "once a year thing you get in April". This bill is turning it into 6 payments throughout the entire 2nd half of the year (July - December). American parents and heads of household will no longer have to wait once a year for their tax credit money.

They feel that this monthly money will help during "school supply" months (end of Summer) and then the holidays.

With UBI, you don't need a job to get it.

With a tax credit? You still need to be employed and make that money in order to have a tax break.

If you didn't make that money. . . you won't get it back in those six payments.



Not even close to UBI. UBI gives money to folks that don't work.


Sorry, would you like to try again?


The difference between a liberal and a conservative? A liberal views all money as the government's, so tax breaks are just government money that the government lets you keep.

Whose money is it that the Fed is pumping into the markets?

Whose money is it? Hint: we're not going to pay it back. The raid of the treasury is in full mode to usher in and implement a world currency. Its coming..........and fast. W did about 5-6 trillion in 8 years, O did 8-9 trillion in 8 years, Trump did 6 trillion in 4 years and the current buffoon has done over 2 trillion in less than 2 months.