Patriotic GAS

[AudioTaper]

I‘m not counting my proverbial chickens before they hatch, because of 12:30pm eastern time, they haven’t passed the bill yet. Also, from everything that I’ve read, the stimulus payments will potentially start at $1k per individual based on their yearly salary of $75k a year or less. For every $100.00 over that, you can deduct $5 from the $1k. Couples filing jointly will get $2,400.00 if they make a combined $150k or less. Two things are not in my favor here:
1. My wife is a CPA and any gear that I may want, has to have her blessing.
2. Not sure how much we will get, if anything at all, based on the salary caps that the (pathetic) government has laid out in the bill.

I hate getting my hopes up for anything, but most especially when it comes to gear, only to have them quashed. I’ll have to live vicariously through y’all for now.

There was something in there about it being based on income AND amount of taxes paid. Know anything about that?
So if someone is below the $75K but has a lot of deductions (like kids or a spouse who is unable to work) and doesn't end up paying a lot of taxes, they would get less.

 

[Kevin Lynch]

There was something in there about it being based on income AND amount of taxes paid. Know anything about that?
So if someone is below the $75K but has a lot of deductions (like kids or a spouse who is unable to work) and doesn't end up paying a lot of taxes, they would get less.

You’re right, I do know there was a credit for children, but I can’t remember how much that proposal is. If I can find where I read it, I’ll pass it along. I forgot to mention that and thank you for bringing it up.
I have two kids myself if we receive any money, it would more than likely go to the needs of my family and not to any gear that I may want. Needs before wants are the responsible thing to do.......I suppose.

 

[sleddogn]

 

[GretschWretch]

Best wishes to you and your loved ones Dr. Cheese, and everybody else of course. This won't be the first pandemic the world has survived. We can only hope our elderly and other high risk people don't get caught up in this. Glad you're keeping a positive outlook.

Think of all the vintage gear that will become available if we don't!

 

[corinpills]

I'm really GASsing for being able to pay my mortgage with all my gigs canceled, but still enjoying this thread.

 

[M.R. Ogle]

I'm also in Illinois (downstate, flyover cornfield country) with nothing to do. But I'm using this time to go through my stuff, like fix iffy cables, finally put those two Hartke 10's in that cabinet, do that pickup swap I was forever putting off, etc. The time off is what I'm trying to utilize MOST.
We're not going to starve, but if we do get a check, it will go to the same things we always pay every month, rent on our shop (which, of course, is not producing ANY income right now) and utilities. And a grand won't cover that for a month.

 

[Kevin Lynch]

You’re right, I do know there was a credit for children, but I can’t remember how much that proposal is. If I can find where I read it, I’ll pass it along. I forgot to mention that and thank you for bringing it up.
I have two kids myself if we receive any money, it would more than likely go to the needs of my family and not to any gear that I may want. Needs before wants are the responsible thing to do.......I suppose.

The Coronavirus Stimulus, if passed, would provide and additional $500.00 per child.

One thing that’s important to keep in mind before anyone goes out and blows their stimulus money on gear, is that it hasn’t been determined how it’s going to be taxed. They could make it tax free, or they could make it taxable income. The government could make it so that the cash payment may have to be repaid on that year’s tax return. For example, say you’re single and you receive a check for $1,000 now. Next year, if you’re supposed to get a refund for $3,000, the government would deduct that $1,000 and give you the net difference of $2,000 as your 2020 refund. It’s like an advance on your own money, so-to-speak. Or, they could decide to make it free money. A gift from the government. I wouldn’t bet on that last one - not to get too political, but let’s just say that I have less faith that this administration would do the “right thing” than I’ve had in most of the previous administrations.

 

[Altitude]

I'm fortunate to be one of the people who won't qualify for this assistance. But, also in a situation where I pay quite a lot more than what might reasonably be called my share in taxes. So, from my perspective, while this stimulus is surely needed, it amounts to a redistribution of wealth writ large.

You guys do what you will. Might I suggest that if your cash position is safe enough that you're thinking about buying a bass with your stimulus money, consider driving to the first locally owned restaurant you see and hand the owner a check for $1000 instead.

 

[mark beem]

Please no politics, just GAS.

It appears that substantial stimulus is coming our way soon. Some of that money will be earmarked for some responsible adult things, but we should get enough that I can pass some GAS. I know some things I might buy, but I talk about my GAS so much, I want to hear what others might do to musically boost the economy?

@Nino Valenti will be experiencing an economic boost from me soon.

 

[Dr. Cheese]

@Nino Valenti will be experiencing an economic boost from me soon.

 

[hwystar]

Dont know how much we will get but I like the new GK Legacy 4-10 combo.

 

[Pilgrim]

I'm planning to buy a number of gift certificates at various restaurants to help them get through the current situation.

 

[Simantic]

I've been out of work since mid September. so I can't afford to waste money on much of anything right now. I do have a really good job prospect I expect to hear from soon though. That said, the only thing I'm really GASsing for right now is some nice flats for my new-to-me 5-string...that is if Ibanez ever sends me a replacement bridge to install them on.

Thanks to the generosity of a friend and the kindness of a local seller, I recently got a smoking good deal on the SR505 I've been wanting for a long time. Unfortunately, it came with the defective weak bridge that started popping strings as soon as I tuned it up. I called Ibanez, and they were really cool about it and promised to send me a replacement...right before the world shut down, so who knows how long I'll be waiting for my first chance to play my first 5 string.

 

[skycruiser]

I'm fortunate to be one of the people who won't qualify for this assistance. But, also in a situation where I pay quite a lot more than what might reasonably be called my share in taxes. So, from my perspective, while this stimulus is surely needed, it amounts to a redistribution of wealth writ large.

You guys do what you will. Might I suggest that if your cash position is safe enough that you're thinking about buying a bass with your stimulus money, consider driving to the first locally owned restaurant you see and hand the owner a check for $1000 instead.

Wealth redistribution is a neverending process. Normally it is distributed up to the super wealthy who control everything including lawmakers. It's a matter of power, and normally those at the low end have none. Right now they are bringing the rich and powerful to their knees and they'll be forced to relinquish a modest fraction to make sure the retain power in the long run. I'd be interested to hear why you pay more than a fair share in taxes, but I'm sure that conversation would veer off into restricted territory.

 

[Altitude]

Wealth redistribution is a neverending process. Normally it is distributed up to the super wealthy who control everything including lawmakers. It's a matter of power, and normally those at the low end have none. Right now they are bringing the rich and powerful to their knees and they'll be forced to relinquish a modest fraction to make sure the retain power in the long run. I'd be interested to hear why you pay more than a fair share in taxes, but I'm sure that conversation would veer off into restricted territory.

It would, so let's not.

 

[berman3313]

Spend it to support the musicians who are part of this board. Go out and see them, buy food and drink at those establishments!

EDIT: When they re-open and when we have some $$$

 

[sleddogn]

today?

 

[stevieg]

I never thought I'd say this... I'm seriously considering a Ric.

S

 

[Mike Whitfield]

I hope people who don't need the stimulus to buy food, housing and other essential resources don't get it. I don't need help with those things and I hope I don't get a penny. We're not at the economy stimulus point - more at the desperation/survival for a huge segment of the population who are week-to-week and can't work due to work closure. Using this to buy gear is irresponsible.

I don’t agree that buying gear is irresponsible - everyone should be free to make her own choices. But I wholeheartedly agree that instead of shotgun stimulus, this should be going first to people who have lost their livelihood and second to employers in hard-hit industries, especially small businesses. Not all their income - we still need workers in key industries - but enough that they can eat, pay utilities and rent if they need to hide themselves. Especially people who are self-employed and can’t get unemployment, but have been paying taxes. I know no one is allowed to evict or foreclose or shut off utilities while this goes on, but the recovery will be slow and those people who have lost all their income for a month or two start out in deep holes. Making those people solvent is a much better long term stimulus and more decent than giving the rest of us some extra spending money.

 

[Mike Whitfield]

If you have the means to take an unexpected money gift over to a guitar shop and drop it on a new piece of gear, then with a little bit of discomfort you could probably do it without the gift. The person who just lost his restaurant job with NO OTHER SIMILAR JOB OPENINGS across the entire country (this is not hyperbole - it is literally true right now), is in a much more dire situation. No one is disputing the idea that we need to spend and stimulate, but the need for cash-in-hand is far greater for certain folks right now. The rest of us are all hedging and saving expecting the worst to come. Maybe the best we can do is accept a little risk, spend money to keep the economy moving. Not an easy thing to do - actively work against what you think are in your own personal best interests.

Well said. Those of us who are still collecting checks are probably building up a surplus which can (cautiously) be spent after everything opens back up. Those who aren’t, need help right now just to get by. Help them now and maybe think about a general stimulus when the virus is beaten back and everything is open for business.