Individuals earning up to $75,000 will receive a check for $1,200, while couples earning up to $150,000 will get $2,400. Additionally, parents will receive $500 for each child under 17. That leaves out anyone 18 and older, who can still be claimed as dependents on another person’s tax return.
In fact, people who can be claimed as a dependent, even if they are not, are not eligible for a payment.
A taxpayer is allowed to claim a full-time student between the ages of 19 and 24 as a dependent, so the parent will not get $500 for a college student, nor can the college student generally claim $1,200 [for themselves].
Experts predict that COVID19 will have profound impacts on the financial futures of young Americans. Not only are some [being] left out of receiving stimulus relief checks, but young people, ages 16 to 24, will also be disproportionately affected by COVID19 layoffs.
The Pew Research Center says that nearly half work in service-sector jobs, and make up 24% of workers in higher-risk industries overall.
TL;DR of TL;DR:
Working college students make up 24% of workers in riskier sectors. 50% of those students work in service industries. Therefore American students are more at risk of being fired due to COVID19 complications. This problem is compounded by the fact that the government won’t be helping them with financial aid.
TL;DR of TL;DR of TL;DR:
Working college students are more likely to get fired. No work means no income which means they can’t pay for things and the government won’t be helping them pay for those things.
TL;DR of TL;DR of TL;DR of TL;DR:
Daddy Trump bigly fuk po’ learny ppl with tremendous laws to make them more po’.
SOURCE: Cramer News Boomer Central [CNBC].