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Tafkam Hokie
Joined: 10/07/1999
Posts: 40,227
Likes: 21,984
Tafkam Hokie
Founder Subscriber

Just guessing a bit, but they were probably fishing for an income number

that represented an upper boundary of "middle class," regardless of where you live. Sure, $125K is a heck of an income in SWVA. But if you live in NY or SF or Honolulu, I'm not sure that gets you into the top quartile.
Posted: 08/26/2022 at 09:57 AM ET
(In response to this post by Hoke)

Thread Replies (14)

Full Thread →
10K debt relief question? Will those who get the relief have to pay taxes
darnellm • 08/26/22 08:42 AM ET
I expect fed taxes - no. State taxability will vary.**
ColoVT82 • 08/26/22 12:35 PM ET
My question is how did they come up with the $125k income threshold?
Hoke • 08/26/22 09:50 AM ET
They could've done it like he COVID payments, sliding scale based on income
soflahokie • 08/26/22 11:53 AM ET
And it is 250k per couple. Which means prob over 90% of the pop is
fordham • 08/26/22 09:58 AM ET
Just guessing a bit, but they were probably fishing for an income number ◄
Tafkam Hokie • 08/26/22 09:57 AM ET
Yeah, I'm sure it's some offical statistic...
`lag • 08/26/22 10:32 AM ET
It sure as hell should be taxable…. But you
fordham • 08/26/22 09:49 AM ET
It certainly awards the squirrels who didn't gather their nuts before
Vtskier1 • 08/26/22 11:50 AM ET
But we live in a world where our deficit runs multiple hundreds of billions
ElbertoHokie • 08/26/22 12:05 PM ET
Musical chairs. The music eventually stops and not all will have a seat**
Vtskier1 • 08/26/22 12:40 PM ET
unless there is another exception put in place- general answer is yes
bigbadbird • 08/26/22 08:57 AM ET
A potential there could be that the 10K was a loan scheduled to be paid
Tafkam Hokie • 08/26/22 09:25 AM ET
There was an exemption put in place. I think that's how they're trying to
ElbertoHokie • 08/26/22 09:20 AM ET
The 'ol omnibus bill to "fund the government" then load it with pork
Vtskier1 • 08/26/22 11:54 AM ET