This is provably false. It only went to people who filed taxes in 2019 and who met the qualifications.
Despite both of those things still being true, and having lost my job as a direct result of COVID-19, I was still told I would not be receiving the benefits. I was not given a reason by the automated system and I have yet to reach a human being to explain my rejection. I am far from an isolated case
The stimulus check will be part of your 2020 tax return, and you will claim the money as a refund then if you have not already received your money. Any money incorrectly paid out will likewise be reclaimed via that process.
I did not get any notice as such, but my understanding as to why I got $0 was I made too much money to qualify. So I don't think your statement is in any way accurate. It did not go to "everyone"
No, it didn't.
The $1200 went to adults who were not dependents of someone else and who earned less than a certain threshold, with the amount prorated depending on your AGI and your tax filing type (single, married, head of household).
My point was that everyone qualified for it. It wasn’t dependent on losing your job first. You could keep your job and still receive the (up to) $1200 stimulus if your income met the thresholds.
$4T to the FED to prop up the stock market
$700B in forgivable loans to small businesses (PPP program)
$300B in taxpayer stimulus checks
$260B in Unemployment Insurance subsidies
>suggesting that we could all have received $18K is disingenuous. Proper response should be targeted where needed
It is not disingenuous at all to say taxpayers should have received the lions share of these bailouts (bailouts being paid for by taxpayers), or at minimum its not disingenuous to say taxpayers (not law makers beholden to corporate interests) should have dictated where the bailout funds go...I would say it is disingenuous to claim taxpayers would have sent 8x the amount they received to the FED to prop up an overvalued stock market that was already at record highs.
[0]: https://www.federalreserve.gov/releases/h41/current/h41.htm
Reserve Bank credit: 7,009,664
Securities held outright[1]: 6,115,130
[1] Includes securities lent to dealers under the overnight securities lending facility (when people talk about JPow money printer go brrr...this is what they are talking about and nearly every night for 2 months after the FED got the $4T overnight the markets would skyrocket)
It’s not correct to say that people only received $1200. Everyone qualified for that stimulus (depending on income thresholds, it was phased out for higher incomes), regardless of job loss.
Unemployed people receive an additional $600/week from the late-March COVID relief bill through July 31. There are additional measures to extend the duration of regular state unemployment. The combined benefits given to unemployed people are over $10K/person additional, on top of regular state unemployment.
Furthermore, many of the numbers you’re citing are in the form of loans or other non-spending activity. It’s not correct to suggest that we could have simply given that money to the people and arrived at the same budgetary outcome.
I don’t agree with the way all of the funds have been allocated, but suggesting that we could all have received $18K is disingenuous. Proper response should be targeted where needed, such as the unemployment measures and loans for businesses that were forced to close, not just distributed to everyone who kept their jobs and businesses.