The “Explore America Tax Credit” - up to $4,000

[Anonymous]

I too have been trying to help the smaller business, but it's been a struggle with the closures as a lot of them cannot afford the necessary precautions required to remain open. Thus forces me to go to either McD's or BK, which during all of lockdown caused their lines to stretch clear around the corner. Can't say I would ever thought that I'd wait in a fast food line for an hour! lol

[Anonymous]

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@Anonymous wrote:

I too have been trying to help the smaller business, but it's been a struggle with the closures as a lot of them cannot afford the necessary precautions required to remain open. Thus forces me to go to either McD's or BK, which during all of lockdown caused their lines to stretch clear around the corner. Can't say I would ever thought that I'd wait in a fast food line for an hour! lol

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I think fast food is where a good chunk of the recent job gains were made. Saw the same thing on my road trip from NY to FL and back last month. Crazy!

[Revelate]

Interesting.

Tax credits aren't exactly handouts, namely we have to spend the money in a specific fashion.

1) Helps travel and restaurant businesses which were some of the most hardest hit in a better way than just giving them money.  

2) More traveling / eating out will get the people working those gigs employed again quicker, driving down unemployment which is a win for everyone.

3) Tax credits help those that are paying taxes: I.e. get back to work y'all.

4) (whoops missed the restaurant part)

Frankly I think if they stripped restaurants it would be brilliant... better than some of the other handouts which are potentially on the table in the sense that it incentivizes behavior everyone should be able to get behind: get things back to normal faster.  My opinion only not trying to get political.

[Trudy]

Now this I can easily do and hopefully help the businesses that need it to survive.  Although I seldom cooked due to most of my career being travel and the hours I work daily, I am cooking A LOT more now while "sheltering".  But I still order out to try to do my part and hopefully it helps.  4K in restaurants alone is easy and throw in travel, done and done.

[Revelate]

Yeah as I was heading out to get food, the thought hit me I could simply use it to explore all the much higher than I usually pay for food restaurants in downtown Houston of which there are many.  

[M_Smart007]

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@Revelate wrote:

Yeah as I was heading out to get food, the thought hit me I could simply use it to explore all the much higher than I usually pay for food restaurants in downtown Houston of which there are many.  

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I heard Austin has some good restaurants to

[FlaDude]

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@Anonymous wrote:

I personally believe this does help some that are truly in need....not the household that can still actually afford to travel/vacation, but the businesses that will benefit from encouraging travel within the US.  This is meant to help stimulate economy.....restaurants, hotels/motels, theme parks, etc.  If these businesses are able to get relief with increase in business, then more workers will be needed, less lay offs and less businesses going under and closing the doors for good.  Many other sectors will be helped as well...oil/gas, etc.   Just my opinion the way I understand it’s intent. ✌🏻

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I would certainly agree that is the advertised intent. The real question is whether this will really encourage more travel, or just put more money in the pockets of people who would have travelled anyway. Smacks of "trickle down economics" to me.

[iced]

@FlaDude wrote:

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I would certainly agree that is the advertised intent. The real question is whether this will really encourage more travel, or just put more money in the pockets of people who would have travelled anyway. Smacks of "trickle down economics" to me.

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This is a good explanation of my concern as well. I'm already stimulating local restaurants and I'm already traveling and stimulating business in those places. Giving me $4,000 to do what I'm already doing is just handing me more cash.

It's not really going to encourage travel that wasn't already planned. Those who aren't traveling are either still too scared or too broke, and this doesn't really motivate either of those groups to get out and see the sights.

[Revelate]

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@iced wrote:

@FlaDude wrote:

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I would certainly agree that is the advertised intent. The real question is whether this will really encourage more travel, or just put more money in the pockets of people who would have travelled anyway. Smacks of "trickle down economics" to me.

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This is a good explanation of my concern as well. I'm already stimulating local restaurants and I'm already traveling and stimulating business in those places. Giving me $4,000 to do what I'm already doing is just handing me more cash.

It's not really going to encourage travel that wasn't already planned. Those who aren't traveling are either still too scared or too broke, and this doesn't really motivate either of those groups to get out and see the sights.

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You forget food though.

Everyone needs to eat, look at it the other way: $4000 if you make call it 14K a year vs handouts / ramen / food stamps.

There's no solution that is perfect, I am really surprised by the naysayers honestly.  

I'll admit I wasn't really a fan reading it initially but I needed a few days of real sleep to really start to think it is a good idea.

Free food if you have a job?  OK for those that don't pay taxes that is a bit of a problem but this targets the middle which most social welfare programs do not, and it will employ more people in the lower tranches of the economy.

[iced]

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@Revelate wrote:

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@iced wrote:

@FlaDude wrote:

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I would certainly agree that is the advertised intent. The real question is whether this will really encourage more travel, or just put more money in the pockets of people who would have travelled anyway. Smacks of "trickle down economics" to me.

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This is a good explanation of my concern as well. I'm already stimulating local restaurants and I'm already traveling and stimulating business in those places. Giving me $4,000 to do what I'm already doing is just handing me more cash.

It's not really going to encourage travel that wasn't already planned. Those who aren't traveling are either still too scared or too broke, and this doesn't really motivate either of those groups to get out and see the sights.

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You forget food though.

Everyone needs to eat, look at it the other way: $4000 if you make call it 14K a year vs handouts / ramen / food stamps.

There's no solution that is perfect, I am really surprised by the naysayers honestly.  

I'll admit I wasn't really a fan reading it initially but I needed a few days of real sleep to really start to think it is a good idea.

Free food if you have a job?  OK for those that don't pay taxes that is a bit of a problem but this targets the middle which most social welfare programs do not, and it will employ more people in the lower tranches of the economy.

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The problem is it's a tax credit, so nobody sees a penny of it until next year. The wealthy can float cash that long, but the poor can't.

This is a boon to the wealthy disguised as a boon to the middle class, just like HSAs and 401ks.