Scott Santens
๐ค SpeakerAppearances Over Time
Podcast Appearances
The Democratic plan in the House that was proposed by Tim Ryan and Ro Khanna
and also the new Senate plan that you just mentioned earlier, those plans are actually means-tested plans.
So the one that was the Senate side that was announced today, that actually starts...
disappearing called clawback it starts being clawed back at a hundred thousand dollars per um single and two hundred thousand dollars per couple at a ten percent clawback rate so that means that after a hundred twenty thousand dollars or at a hundred ten thousand dollars you're earning uh you're getting a thousand dollars per month instead of two thousand dollars per month and at a hundred twenty thousand dollars you're getting zero
and everyone earning over $120,000 gets zero.
And I think it's really important that we have a fully universal amount, especially right now, because of this not-knowing
the situations that people are in.
So these plans say that they should go to people earning less than $120,000.
And so, yeah, that sounds good, but you don't actually know that.
What you're doing is you're basing it off of what people filed in 2019 or 2018, just like the stimulus checks were.
where you are essentially assumed to be in the same position that you were previously.
So if you, if you were earning $121,000 and that was your adjustable adjusted gross income in 2019, and you could be in a situation where your income just dropped to zero, you don't have anything now.
And maybe you're in a position too, where you actually don't even qualify for unemployment income.
Um,
because maybe you're self-employed, and maybe even though it's supposed to go to you, maybe it hasn't.
So you've fallen through the cracks.
And so we have to make sure that we avoid people falling through the cracks.
That's what universality does.
And then it would just make more sense to say, look,
If we want to exclude those earning over $120,000, then let's just say that come taxes next year, then we apply a higher rate to those earning $120,000 that would claw back what they essentially got this year.