Trump promises $2000 tariff dividend to all Americans

[NxNW]

This will also be done with the tariffs. Eventually. It has to get worse before it gets better.

The getting worse part is definitely happening.

 

[essentialsaltes]

And how much that was due to covid lockdowns, shutdowns and quarantines?

It doesn't cost the government trillions to say "You're closed for the time being."

 

[Servus]

It doesn't cost the government trillions to say "You're closed for the time being."

Did covid increase the national debt in 2020?

Yes, the COVID-19 pandemic significantly increased the U.S. national debt in 2020.

 

[essentialsaltes]

Did covid increase the national debt in 2020?

Yes, the COVID-19 pandemic significantly increased the U.S. national debt in 2020.

And how much of that was from direct stimulus payments?

AI Overview

The total cost of U.S. COVID-19 stimulus was approximately $4.5-$4.6 trillion in total budgetary resources, with about $4.2 trillion expended by January 31, 2023. The largest individual stimulus packages were the CARES Act ($2.2 trillion), the American Rescue Plan ($1.9 trillion), and the Consolidated Appropriations Act of 2021 ($900 billion).

 

[Servus]

And how much of that was from direct stimulus payments?

AI Overview

The total cost of U.S. COVID-19 stimulus was approximately $4.5-$4.6 trillion in total budgetary resources, with about $4.2 trillion expended by January 31, 2023. The largest individual stimulus packages were the CARES Act ($2.2 trillion), the American Rescue Plan ($1.9 trillion), and the Consolidated Appropriations Act of 2021 ($900 billion).

Individuals: $1.1 trillion in direct payments (Economic Impact Payments).

 

[essentialsaltes]

Individuals: $1.1 trillion in direct payments (Economic Impact Payments).

Okay, now getting back to the topic, how much money do the tariffs pull in? Is it enough to cover a $2,000 payment -- $200 larger than the $1,800 Covid stimulus most received?

The answer is no; this move would require adding a significant amount to the national debt, as it did last time.

 

[Servus]

Okay, now getting back to the topic, how much money do the tariffs pull in? Is it enough to cover a $2,000 payment -- $200 larger than the $1,800 Covid stimulus most received?

$1,800 in 2020 is equivalent in purchasing power to about $2,253.21 today.

The answer is no; this move would require adding a significant amount to the national debt, as it did last time.

Where you against the Economic Impact Payments? Did you mail yours back?

 

[GoldenBoy89]

Where you against the Economic Impact Payments? Did you mail yours back?

I’m assuming you have me on ignore but I have to ask again. What is the national economic emergency we’re trying to mitigate with these stimulus payments? It’d be great if you could tell me what you think this is for and why it’s needed at this moment.

 

[Hans Blaster]

On the off chance that these checks actually go out and the SCOTUS rules against the presidents made up tariff powers, do they have to be paid back like the tariffs ?

There are only two legal mechanism by which such checks could be offered.

1. A "prebate" tax refund stunt where in a (for example) $2000 pre-payment of income tax rebates are sent out *before* filing, but counts against any future rebate. (I don't think this is what he has in mind.)

2. A one-time refundable tax credit of $2000. This would be like the COVID stimulus checks and it would require Congress to pass it into law as part of the budget.

(There was a "hybrid" version under the Bush 2001 tax cuts. The lowest marginal rate was lowered by an amount that reduced everyone's taxes by $300 for individuals and $600 for couples. They "prebated" the reduction with direct taxes under the reasoning that withholding tables were already in use with the old rates and not wanting the impact to wait until April 2002.)

 

[Belk]

If this is the point you are referring to, I already have addressed it.

You have addressed the people getting their own tariff money back?

 

[Oompa Loompa]

You have addressed the people getting their own tariff money back?

Yes. In post 44, if you have been paying attention.

 

[Belk]

Yes. In post 44, if you have been paying attention.

If the issue is people being fooled with a $2000 check, I predict that hardly anyone will change their opinion about Trump and the people who hate him the most will gladly take the cash only to turn around and trash him for it.

How does this address the tariff money coming from the tax payers?

 

[Oompa Loompa]

How does this address the tariff money coming from the tax payers?

It addresses your comment about wondering how many would be fooled. I said likely very few would change their opinion for the better or worse. They will just take the money and go along as usual.

 

[Belk]

It addresses your comment about wondering how many would be fooled. I said likely very few would change their opinion for the better or worse. They will just take the money and go along as usual.

OK, noted