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More information on the Covid-19 $1,200 bailout checks

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On 3/27/2020 at 2:56 PM, DaddyNick said:

I'd rather not take any money from the government but if it comes , the wife and I already discussed just putting it into our kids savings.  

Wife and I won't be getting a dime of this.  I'm fine with that as there are definitely people who need it more.  As others have said, I think there can be a huge disparity between your 2018 filling and your current situation.  My wife and I both do well but her main business is now completely shut down and will be a big hit to her 2020 income.  

If we were getting it - probably send it right along to 2A groups.

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2 hours ago, Shepherd9 said:

As others have said, I think there can be a huge disparity between your 2018 filling and your current situation.  My wife and I both do well but her main business is now completely shut down and will be a big hit to her 2020 income.

I agree with that and mentioned it earlier. What happened in 2018 and what's going on NOW for someone can be night and day. To say someone can't get help now, with being laid off or business closed, because they made too much in 2018 is nuts and unfair, considering the level of taxes they paid back then.

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1 hour ago, Sniper said:

I agree with that and mentioned it earlier. What happened in 2018 and what's going on NOW for someone can be night and day. To say someone can't get help now, with being laid off or business closed, because they made too much in 2018 is nuts and unfair, considering the level of taxes they paid back then.

I agree, but isnt that what unemployment is for?

 

I feel most bad for small businesses.. a lot of the are forced into a corner to take out loans.

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51 minutes ago, JackDaWack said:

I agree, but isnt that what unemployment is for?

Sort of, but you're also penalized with UE if you're a higher income earner, as there's a top of like $696 weekly UE amount. So, if you work hard, get promoted and be responsible, you get screwed on both fronts.

I touched on that in this thread:

 

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8 minutes ago, Sniper said:

Sort of, but you're also penalized with UE if you're a higher income earner, as there's a top of like $696 weekly UE amount. So, if you work hard, get promoted and be responsible, you get screwed on both fronts.

I touched on that in this thread:

 

This country has been penalizing success for over a century now.

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10 hours ago, JackDaWack said:

 

 

This country has been penalizing success for over a century now.

It's not just succes that's penalized. 3 years ago I was laid off after 24 years at the same company. I was far from a high paid employee but would have qualified for a little over $600 a week in unemployment insurance. That is not what I received. The amount you collect is calculated on a 12 month average but not the last 12 months you wotked. They go back 6 month and calculate the 12 months from there.

I commited the sin of being on private disability for 4 of those 12 months which does not count towards the calculations for eligibility.

Because my private insurance didn't pay the $8 a week state unimployment tax (approx) during my disability it cist me $300 a week in benifits when I needed to collect. I appealed the award and was denied. No not fair at all but life is not fair. 

Can't wait for my stimulas checks.

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On 3/26/2020 at 10:44 PM, Golf battery said:

I’ve talked to a few people with the same sentiments as i.  They would gladly donate it  back to the real injured parties. 

We'll be over to buy stuff as soon as I can peel the wife out of the house.

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On 3/29/2020 at 1:11 PM, JackDaWack said:

I feel most bad for small businesses.. a lot of the are forced into a corner to take out loans.

Was just walking by as wife was watching Hannity.

Some politician was on saying some of the money is going to small businesses.  And if you use it to pay employees, pay mortgage for business, etc then it becomes a grant and not a loan.

Only caught it in passing.  Prehaps you ou can rewind Hannity or record / DVR the re-run to see if they expanded on it.

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30 minutes ago, gleninjersey said:

Was just walking by as wife was watching Hannity.

Some politician was on saying some of the money is going to small businesses.  And if you use it to pay employees, pay mortgage for business, etc then it becomes a grant and not a loan.

Only caught it in passing.  Prehaps you ou can rewind Hannity or record / DVR the re-run to see if they expanded on it.

That was Kevin McCarthy.  And thats exactly what he said.  Spend it on employees and its a grant.  There wasn’t a ton of detail.. but of course now I can’t rewind during a damn commercial.

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16 minutes ago, Kevin125 said:

That was Kevin McCarthy.  And thats exactly what he said.  Spend it on employees and its a grant.  There wasn’t a ton of detail.. but of course now I can’t rewind during a damn commercial.

I was told that if it's used for any/all of your normal business expenses. I was told this by another business owner whos accountant told him such. he's getting me more info in the coming days. i'm also gonna be on the phone to my accountant and put her on this. 

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So you know what the bottom line on all this is? Modern Monetary Theory has arrived.

The U.S. government, and some others, have just accepted that they can create money any time they need it, and in any amount they need. There's really no practical limit. As to its real 'value', who cares?

We're all playing with real Monopoly money now.

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Couldn't be a better way than all of this to fundamentally change the relationship of the individual and the govnernment.  

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