[burger]

The IRS checks adjusted gross income and gets bank account information from the same tax return.  It doesn’t really take more time to place the limit at $198,000 and save more money for the unemployed.  A payment of less than 2% of income means a lot less than a payment of $600/week to someone who has no income.

I totally agree that some people need the money now, and others don't need any help.  But avoiding the means testing has two big advantages: 1) it speeds things up.  Our payment status on the IRS website is unavailable because we filed federal taxes a couple of weeks ago, and the IRS seems to be using our 2019 tax return--which hasn't been processed yet--to determine if we're under the limits.  I'm guessing a lot of people who need the money now are waiting for the same.  And 2) having made a bunch of money in 2018 or 2019 doesn't mean you haven't lost your job or income now.  Most of the job losses so far are in relatively low-paying service jobs, but it's clear from just reading this board that there are people who made more money who have suffered losses now.  Basing payments on 2019 income is going to lead to some people who need help missing out.

The cost of handing out money to everyone is minimal.  Interest rates for federal borrowing are near 0.  And, like I said, you can claw back excess payments by tweaking tax rates (ignoring the politics, of course).

[burger]

The IRS checks adjusted gross income and gets bank account information from the same tax return.  It doesn’t really take more time to place the limit at $198,000 and save more money for the unemployed.  A payment of less than 2% of income means a lot less than a payment of $600/week to someone who has no income.

I totally agree that some people need the money now, and others don't need any help.  But avoiding the means testing has two big advantages: 1) it speeds things up.  Our payment status on the IRS website is unavailable because we filed federal taxes a couple of weeks ago, and the IRS seems to be using our 2019 tax return--which hasn't been processed yet--to determine if we're under the limits.  I'm guessing a lot of people who need the money now are waiting for the same.  And 2) having made a bunch of money in 2018 or 2019 doesn't mean you haven't lost your job or income now.  Most of the job losses so far are in relatively low-paying service jobs, but it's clear from just reading this board that there are people who made more money who have suffered losses now.  Basing payments on 2019 income is going to lead to some people who need help missing out.

The cost of handing out money to everyone is minimal.  Interest rates for federal borrowing are near 0.  And, like I said, you can claw back excess payments by tweaking tax rates (ignoring the politics, of course).