Is the stimulus money being sent to individuals just a loan you pay back at tax time?

I didn’t read this carefully but it seems to answer a lot of questions:

https://www.kiplinger.com/article/spending/T063-C000-S001-stimulus-checks-2020-how-much-when-and-other-faqs.html

If not directly then indirectly by raising taxes or inflation by printing money. Or selling bonds to Asia.

LOL… Now both political parties have totally given up on caring about the national debt. At least one of them was honest about it the entire time. (and this goes back to before covid-19 was a thing)

Supply does not create demand. Muppets.

And Trump is going through the oversight IG and firing them so there will be nobody to see where the money goes. Bet some large checks will go to Trump and his supporters.

SMH

@jca2 That article was great. It had information I wasn’t aware of at all.

So, it sounds like There is going to be a tax credit when people do their 2020 taxes, so even if someone doesn’t get a check now, they will be getting the money at tax time. If they get the money now, they might lose that tax credit in 2020. If that is the case it is just an advance, but for some people a very important advance. Unless, I misunderstood, or if they change it.

I guess that tax break for 2020 maybe was already planned a long time ago? That wasn’t clear to me.

Did you read it the same way?

I saw someone speculating on FB that you have to pay taxes on the check, too.

@JLeslie: I didn’t read the article terribly carefully yet.

In Canada we also get a Covid 19 tax refund to offset the financial problems.

Here the Canadian Government had a special Fund set aside for emergency monies to assist everyone.
I imagine every Government in the World has the same , as set aside amount to give to the public in time of need.
Also remember that as it was set aside it had gathered interest making it grow over the years.
Not sure of amount but I did hear 5 billion was set aside initially.

^^America has a huge a huge national deficit. There is no extra money here. I guess you could say FEMA is our money set aside for disasters. Americans actually pay into FEMA like insurance for flooding. We can but flood insurance for our homes. I don’t know if the federal government sets aside tax money as well for FEMA, I guess the fed does.

In my opinion America has done a horrible job of being ready for natural disasters, and I include this as a natural disaster. I think government and multimillion dollar big profits business should be setting aside money for unexpected disruptions in business whatever the cause.