Yes, when it comes to a fourth stimulus check specifically focused on the low income, including fixed income beneficiaries of Social Security, retirement, disability, SSDI survivors, SSI seniors, the elderly, and people with disabilities, we have a lot to talk about once again right here on this topic.
All right. So this is a topic that I want to dig a little bit deeper on simply because over the last few weeks here, we’ve seen multiple different changes coming out here in regards to what is actually going on. And we’ve seen the tone change a little bit when it comes to Congress and their take on direct payments, otherwise known as stimulus checks for the American people. This is a good thing because realistically, it’s been about a year now since the last time that we saw any substantial evidence coming out of Congress, as in them talking about direct payments for the American people. The last time that we heard any real substantial evidence out of them was about a year ago when they passed the $1,400 stimulus check.
Now, it was a little bit more than a year ago, but give or take a few weeks here. It’s been about a year. So it’s actually kind of nice here. Over the last couple of weeks, we’ve seen the tone change out of Congress, which is actually a big, big improvement. So I do want to talk about this a little bit more in detail here.
Now, also with the changes that we’ve seen here over the last couple of weeks, the different announcements, the different proposals coming out, Congress talking about direct payments. Now, again, a lot of these that we’ve seen lately are stemming around oil prices. However, as I’ve mentioned so many times before, whether it comes from oil prices, whether it comes from inflation, whether they call it a stimulus check, a survival check, a relief check and anti-inflationary check, like I’ve said so many times, we don’t really care what the name is, and we don’t really care where it comes from. We just want the digits and the cash in our bank accounts. Right So at the end of the day, I think all of us can probably agree, whatever it comes from, if it comes from oil, fine, we’ll take it. Right. It just comes down to the money in our bank accounts. So anyway, I do want to dig a little bit deeper on this. So first off, this is a major question that I continue to receive down in the comments section.
And I want to hit on this really quickly first, which is now that we’ve seen these proposals coming out as of recently, I’ve seen a lot of comments down below. And again, I know that a lot of you here in the community do receive some type of fixed income benefit. Maybe it’s Social Security retirement, or maybe it’s SSDI or SSI or VA, or maybe you’re low income, a lot of seniors, elderly people with disabilities, a lot of you in this community. So a lot of questions that I continue to receive is, are we included for this? Are we going to be included on a fourth stimulus check, the vouchers, the new amendments, the new proposals that have been announced, all of these things that have been introduced lately, are we included?
Here’s what it comes down to? And here’s what’s really cool about this. The proposals that we’ve seen as of recently are all focused on the low income. So, yeah, absolutely. That’s what’s really cool about this.
And again, I just want to make it very clear here before we get any further. As of right now, we’re still kind of waiting in the air right now because all of these are kind of proposals that are still floating around. Congress has not officially passed anything yet, but it does sound like they’re kicking around to multiple different ideas. They’re playing around with a bunch of different ideas and proposals and ways that they can actually get this done. So as we’ve talked about previously in other topics, they have a couple of proposals out there right now where they want to tax large oil producers.
Again, that’s one way that they would come up with the money. Another one way is that the President has been talking about for many, many months now, which is some of the tactics that they’ve taken out of the build back better agenda, which is taxing large corporations and the wealthy. That’s one way that they can come up with the money. Otherwise, another way they could come up with the money is just simply print it. That’s what they’ve done the previous times with stimulus checks to just print it up and send it out so they can do that as well.
But anyway, I want to reiterate this really quickly because I do see your concerns down below, and I totally get it. I think a lot of us have these concerns, which is if there is a fourth stimulus check, will we be included? I’m going to say 100% yes. Now, again, I can’t promise anything because obviously, I don’t know what the parameters would be on another stimulus check in the event that they actually do pass one. But I can tell you this much, if there is a fourth stimulus check, I can pretty much tell you this much so far, it will be focused on the low income.
Now, why do I feel confident about that? Because the proposals that we’ve seen recently strictly lay that out there. They say it right there in the proposals. They say it right there in the announcements that they’ve made. These are focused on the low income, which, by the way, how they determine low income is $75,000 of income.
That’s what they’ve determined low income as. So I don’t know. To me, honestly, I don’t really consider $75,000 low income, but that’s what they’ve determined. And ultimately it’s what they say, not what I say. Honestly, they don’t really care about my opinion.
But again, I’m just saying $75,000 of income seems kind of high to be determined as a low income. But again, these are the income thresholds. So here’s what they’ve said previously in some of these proposals that they’ve been throwing around here as of recently, they’ve said essentially, whoever was eligible for the previous stimulus check, the one $400, remember, it was an individual earning up to $75,000 or a married couple earning $150,000. Those were the income thresholds. So if your income is below that, that is what they have laid out as who would be eligible for an upcoming stimulus check or any of these other provisions that they’ve actually recently introduced, as in the vouchers, the quarterly checks.
That’s what it was. The monthly vouchers, the quarterly checks, the one time $1,000 check. Remember all these that we’ve talked about? Yeah, all of these were basically stemmed off of that $75,000 of income as an individual or 150 as a married couple. And again, remember this, too.
I’ve said this before in other topics, but I want to reiterate this once again, income is essentially based on whatever income would be reported to the IRS. In the event that you file a tax return or even if you don’t file a tax return, it would still be any income that would be reported to the IRS. So that’s basically what it comes down to. So if you’re somebody receiving let’s just say, for example, SSDI, $900 a month, your income is what, whatever that is, $10,800 a year. I think that’s what the math is.
Yes, $10,800 a year. Again, that’s basically what the income would be based on. Now, if you’re somebody receiving SSI $841 a month, again, your income is a little over $10,000 a year. That’s what they base all of this off of is what your income would be, whether it’s reported to the IRS from Social Security or whether you file a tax return, whatever it would be happening to be reported to the IRS, that’s how they determine your income. Because ultimately that is kind of the measure.
That’s kind of like the fair measure as far as so everybody’s on the same playing field as far as, okay, everybody files a tax return or whatever income is reported to the IRS. That’s how they would determine your income. So that’s how they typically determine who would be eligible for stimulus checks or some type of relief payments going forward is based on income. So again, if you’re a fixed income beneficiary by default for the vast majority of people, your income would technically be below the income threshold. So the moral of the story is, long story short, I know that I’ve seen your comments down below.
I know that you’re concerned about this. If there happens to be another stimulus check, whatever they call it, a stimulus check, survival check, relief check, anti-inflationary check, who knows what, inflationary mitigation check. I mean, seriously, they’re probably going to come up with some weird funny name for it because they always do. But basically, if they do happen to come up with something, I would say there’s a very, very high possibility that you will be included. Just like I mentioned a minute ago, these packages and the things that they’ve been introducing lately are focused around the low income very good.
That’s really encouraging to see because I think all of us recognize that this time the higher-income people, the people that are probably, I don’t know, middle-income things like this for the most part, the vast majority of people are doing probably fine right now. But we have seen some reports lately that are also suggesting that some higher-income people are also struggling pretty badly right now, too, as well. But we do know that the vast majority of low-income people and fixed income, they are the ones who need the focus stimulus check. So kind of the moral of the story is that’s kind of where it would be focused on. And that’s kind of exactly what we’ve been talking about here on the channel for quite a few months now is if when there happens to be something, yes, it’s probably going to be highly focused on the low income.