• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Mnuchin offers timeline for $1,000 payments if stimulus passes

WVBaker

TUG Member
Joined
Mar 19, 2015
Messages
2,487
Reaction score
2,087
Treasury Secretary Steve Mnuchin said the Trump administration wants checks of $1,000 per person and $500 per child to go out within three weeks of Congress passing a stimulus package.

"As soon as Congress passes this, we will get this out in three weeks, and then six weeks later, if the president still has a national emergency, we'll deliver another $3,000."

Breaking down the administration's trillion-dollar proposal, Mnuchin said he also wanted $300 billion to go towards small businesses for “hiring people, keeping people on the payroll, and if they do, there will be loan forgiveness.”



Let's keep this informational and non-political. ;)
 

SteelerGal

TUG Member
Joined
Mar 8, 2019
Messages
1,758
Reaction score
835
Resorts Owned
WKV, SDO, HPP, Bay Club
So everyone gets the $$$ regardless if they are getting unemployment or still working? I just wonder how
 

Panina

TUG Review Crew: Elite
TUG Member
Joined
Jul 13, 2015
Messages
6,888
Reaction score
10,189
Location
Florida
Resorts Owned
Hgvc Anderson, Blue Ride Village Resort
So everyone gets the $$$ regardless if they are getting unemployment or still working? I just wonder how
I just don’t see how they pick and choose who will get it. Things are changing by the moment, those who have jobs today might not tomorrow and unemployment is usually very low in comparison to income. Many will probably get it that can survive without It but that is probably the only way to make sure no one falls thru the cracks and everyone gets it that needs it.
 

Talent312

TUG Review Crew: Veteran
TUG Member
Joined
Jul 4, 2007
Messages
17,643
Reaction score
7,496
Resorts Owned
HGVC & GTS
From Reuters --
"In February 2008, when the Great Recession was just taking hold, the Economic Stimulus Act provided payments averaging $600 per person, injecting more than $100 billion into the economy... Payments were directly deposited into bank accounts by the IRS for taxpayers who filed electronically, or came as paper checks to other taxpayers. Individuals who didn’t make enough to pay federal taxes had to file an IRS statement. Economists concluded that it was one of the most effective measures deployed to blunt the impact of the worst downturn since the 1930s."
 

Brett

Guest
Joined
Jun 6, 2005
Messages
9,512
Reaction score
5,069
Location
Coastal Virginia
I just don’t see how they pick and choose who will get it. Things are changing by the moment, those who have jobs today might not tomorrow and unemployment is usually very low in comparison to income. Many will probably get it that can survive without It but that is probably the only way to make sure no one falls thru the cracks and everyone gets it that needs it.

right, everyone that files a tax return

The Wall Street Journal today argued for more payments to businesses instead of individuals

stim_-40-38.jpg
 

bbodb1

TUG Review Crew: Expert
TUG Member
Joined
Apr 9, 2016
Messages
4,305
Reaction score
3,824
Location
High radiation belt of the Northern Hemisphere
Resorts Owned
RCI Weeks: LaCosta Beach Club, RCI Points: Oakmont Resort, Vacation Village at Parkway. Wyndham: CWA and La Belle Maison, and WorldMark.
I'm still trying to see how this is going to help the economy because most people will likely use this money to pay bills. And eventually, the money is going to have to be paid back.

Don't misunderstand, I am not against the idea of helping people in the short term, but I'm not seeing how this action is going to help the economy.
 

TravelTime

TUG Member
Joined
Mar 20, 2018
Messages
8,107
Reaction score
6,467
Location
California
Resorts Owned
All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
I just don’t see how they pick and choose who will get it. Things are changing by the moment, those who have jobs today might not tomorrow and unemployment is usually very low in comparison to income. Many will probably get it that can survive without It but that is probably the only way to make sure no one falls thru the cracks and everyone gets it that needs it.

I read that they will scale this based on income. But the problem with that is that income is changing rapidly. Last week, my income was a lot higher than this week. We probably will not qualify if they scale on income. That is okay with me but for many families, it will not be fair.
 

TravelTime

TUG Member
Joined
Mar 20, 2018
Messages
8,107
Reaction score
6,467
Location
California
Resorts Owned
All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
I'm still trying to see how this is going to help the economy because most people will likely use this money to pay bills. And eventually, the money is going to have to be paid back.

Don't misunderstand, I am not against the idea of helping people in the short term, but I'm not seeing how this action is going to help the economy.

I don't think the $1000 checks need to be paid back. I agree that it might be less effective now than in 2008 since there are not many places to spend the money except to pay bills and rent. It may not stimulate the economy as much if businesses are not open and people can't go out.
 

rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
32,873
Reaction score
9,637
Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge and Shadow Ridge,Grand Chateau; Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms(selling); WKORV-OF ,Westin Desert Willow.
I don't really understand why they would do this. Seems that there are people who need and people do not need. They should distinguish between the two. We do not need that. My mother-in-law doesn't need that. My stepdad doesn't need that. Small businesses like my son has, they could use some help. Small business, especially restaurants, could sure use a boost.
 

TravelTime

TUG Member
Joined
Mar 20, 2018
Messages
8,107
Reaction score
6,467
Location
California
Resorts Owned
All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
right, everyone that files a tax return

The Wall Street Journal today argued for more payments to businesses instead of individuals

View attachment 18095

I do not think there is a lot of thoughtful action going on by the government right now. They are throwing darts with blindfolds on ("go big") and hoping to hit the bullseye. I think nothing will work to help the economy until business is open again.
 

JanT

TUG Member
Joined
Jun 7, 2005
Messages
2,867
Reaction score
1,460
I doubt we'll qualify based on the requirements last time but if we end up with some form of payment we've already agreed we are going to give it to people who truly need it, i.e., a couple of servers at a local restaurant here that always give us exceptional service and are going to be without jobs now for the foreseeable future.
 

geekette

Guest
Joined
Jun 6, 2005
Messages
10,777
Reaction score
5,531
I'm still trying to see how this is going to help the economy because most people will likely use this money to pay bills. And eventually, the money is going to have to be paid back.

Don't misunderstand, I am not against the idea of helping people in the short term, but I'm not seeing how this action is going to help the economy.
it's not so much about the economy, it's about trying to keep people solvent. Folks that don't need the money will put it back into the economy or donate to help others less fortunate. If we can save the people, we can rebuild business.
 

DavidnRobin

TUG Member
Joined
Dec 20, 2005
Messages
11,824
Reaction score
2,239
Location
San Francisco Bay Area
Resorts Owned
WKORV OFD (Maui)
WPORV (Kauai)
WSJ-VGV (St. John)
WKV (Scottsdale)
I don't think the $1000 checks need to be paid back. I agree that it might be less effective now than in 2008 since there are not many places to spend the money except to pay bills and rent. It may not stimulate the economy as much if businesses are not open and people can't go out.

Paid back - meaning added to our ever-increasing deficit that has already skyrocketed over the last few years following the extreme decrease in tax revenue to corporations (and wealthy individuals). This had the impact of creating a robust Equity market (increase) that has now vanished. Now... very little room left for economic protection adjustments with Fed rate of almost zero.

One good aspect of having near zero interest rates is the debt on the distribution of money doesn’t cost much - but can be inflation inducing which can cause the USD to have less value overall. Which in turn can negate the money given out.

Fun times ahead.


Sent from my iPhone using Tapatalk
 

geekette

Guest
Joined
Jun 6, 2005
Messages
10,777
Reaction score
5,531
I don't really understand why they would do this. Seems that there are people who need and people do not need. They should distinguish between the two. We do not need that. My mother-in-law doesn't need that. My stepdad doesn't need that. Small businesses like my son has, they could use some help. Small business, especially restaurants, could sure use a boost.
Then spend it in small business or to help a family in need. There will be loss of life, including breadwinners. I am not sure that a deceased breadwinner would have their 1000 delivered to the family left behind.
 

Brett

Guest
Joined
Jun 6, 2005
Messages
9,512
Reaction score
5,069
Location
Coastal Virginia
Paid back - meaning added to our ever-increasing deficit that has already skyrocketed over the last few years following the extreme decrease in tax revenue to corporations (and wealthy individuals). This had the impact of creating a robust Equity market (increase) that has now vanished. Now... very little room left for economic protection adjustments with Fed rate of almost zero.

One good aspect of having near zero interest rates is the debt on the distribution of money doesn’t cost much - but can be inflation inducing which can cause the USD to have less value overall. Which in turn can negate the money given out.

Fun times ahead.


Sent from my iPhone using Tapatalk

in January the WSJ had an article about the ballooning federal deficit due to the huge tax cuts
and with the expected trillion $$ "relief package" -- fun times indeed ;)
 

pedro47

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
22,369
Reaction score
8,749
Location
East Coast
Keep the money and just purchase needed medical supplies and pay our health care workers, truckers, grocery’s employees for helping the average American citizens. IMO.
 

Panina

TUG Review Crew: Elite
TUG Member
Joined
Jul 13, 2015
Messages
6,888
Reaction score
10,189
Location
Florida
Resorts Owned
Hgvc Anderson, Blue Ride Village Resort
Keep the money and just purchase needed medical supplies and pay our health care workers, truckers, grocery’s employees for helping the average American citizens. IMO.
There are many that live pay check to pay check. For those that get laid off, unemployment will not pay their expenses. This money will feed many families. For some families with children it might be enough to just get by, for the month given, for others it will not be.

After hearing the criteria for getting the payment, there will be many who do not need this money but it would take too long to weed it out and defeat part of the purpose this money is being given.

For those of us that get it that do not need it we have lots of options, donate to all you mentioned, donate to a food bank, help a family we know in need, donate it to a hospital, donate to your favorite organization, etc.
 

T-Dot-Traveller

TUG Member
Joined
Jun 10, 2015
Messages
4,695
Reaction score
3,662
Location
Canada
Resorts Owned
Mayan Palace Regency
Taranova
There are many that live pay check to pay check.....
For those of us that get it that do not need it we have lots of options,......

The whole idea is to keep the get the money circulating very quickly - so that the economic wheel
keeps turning .

If a month ago : you gave 100 kids in a school yard $10 each on Friday - I guarantee that a very high percentage
of it would be in circulation by Monday .

That is the concept -
 

Roger830

TUG Member
Joined
Dec 11, 2013
Messages
1,470
Reaction score
600
Location
CT
We don't need more money that we can't spend with all of the closings.

Send my something that we can use, like toilet paper.
 
Last edited:

Roger830

TUG Member
Joined
Dec 11, 2013
Messages
1,470
Reaction score
600
Location
CT
Tell you what. Cash the check, send it to me and for $1,000.00 I'll send you a couple rolls. Deal? :cool:

I saw where someone was selling them for $10 per roll, I'm ok with 100 rolls delivered.
 
Last edited:

WVBaker

TUG Member
Joined
Mar 19, 2015
Messages
2,487
Reaction score
2,087
What's this look like, let's make a deal? Mine's 2ply and a hot commodity now.
 

Roger830

TUG Member
Joined
Dec 11, 2013
Messages
1,470
Reaction score
600
Location
CT
My wife won't go along with it, she said that we can use leaves.

It's too bad that we have mostly oak leaves that break apart this time of the year.
 
Last edited:

WinniWoman

TUG Review Crew: Veteran
TUG Member
Joined
Jul 16, 2010
Messages
11,006
Reaction score
7,234
Location
The Weirs, New Hampshire
Resorts Owned
Innseason Pollard Brook
If we do get a check ( which is our money anyway) we are giving it to my son who is losing income now that he can’t work his part time job.

There is always someone you can help.
 

TravelTime

TUG Member
Joined
Mar 20, 2018
Messages
8,107
Reaction score
6,467
Location
California
Resorts Owned
All Resale: MVC DPs, Marriott Ko Olina, Marriott Marbella, WKOVR-N, Four Seasons Aviara
Deleted
 
Last edited:
Top