Sure - and in the meantime, every company in America will go broke outside of grocery stores and pharmacies, so most people's long-term income after this becomes $0. And then the grocery stores go under since no one can afford food. The problem is not a need to stimulate the economy with checks. It's to give people money to survive and pay rent/utilities/food. We don't want people spending money on movies or flights or restaurants or hotels or anything else, so those businesses will go under with no support.
I think we can find common ground. Because creating this incentive is stupid. I do think people are going to need alot of $ in the future tho .... not necessarily to spend , but to save/invest and have to spend in the future at their local places. Rent payments are the major confounding factor in all of this. You want a shut down for about a month while you get a hold of the medical side. Yeah , you are basically paying some people to stay home right now . But among the "freeloaders" is the likely next supply of cahsiers and drivers and fast food workers when the current crop gets sick. Thats why its gotta be in the form of a check vs being on program that creates a bad incentive
How long does the health crisis last ? Can business evolve to rely less on physcial contact ? Can we test large scale and provide low-risk working conditions ? People paying fixed costs ... businesses paying fixed costs. Winners and losers in both scenarios. You can have .4 tril bailout for big buisness, .4 tril bailout for small business , and 1.2 tril payout to people. If you do over 18 then its still over 5k . /zoolander do it.
When we are doing a second $2 trillon stimulus in June, you can address these issues. This wasn't a drafting error. That is complete bullshit. It was by design: https://slate.com/business/2020/03/republicans-drafting-error-coronavirus-stimulus-bill.html Here's what's true, This stimulus isn't going to be remotely enough. It might have been enough to address the collapse of 2008/9. This is literally going to be off the charts in terms of bad, forecasting, models -they don't account for what is coming. Bail out everybody, and everyone (except for Cruise ship owners nad the Trump Organization, **** them), and do it now.
@Major you have too much faith in government. Your way of thinking is so logical. What you are thinking is exactly the way I thought the bill had been written. It makes absolutely no sense to pay people more than what they were making. However, expecting one simple sentence to fix the issue, well, they will find an unnecessary way to drag it out. Also, one question, what about people that hold two jobs, how will these folks be compensated for both jobs if they were to lose both. Or what happens if they hold on to their part time job? Are they no longer eligible to claim benefits for a full time gig they were potentially laid off from?
$1200? I guess it's okay that the government has botched the handling of this crisis. Thanks, Donald.
Anything come out listing the restrictions on the 500B for companies, if any exist? Like no buybacks or dividends until the loan is repaid?
Well that's settled...Mnuchin said because of the antiquated systems the states use for unemployment the $600 addon was the easiest way to help everyone across the board. They need to go ahead and pass the damn bill already.
Perhaps a moot point, but... Is the concern that you will get fired/layoff and then not look for work?
I love the fact people are angry some unemployed dude will get 60 bucks too much a week but no concern over giving out a trillion to businesses that used the good times for stock buybacks. the bills should have been separate.
Yes. Someone who makes $12/hr at the movie theater gets laid off because no one is going to movies or cities have shut them down. He now makes $21/hr in unemployment (($6/hr in regular UI + $600/wk or $15/hr extra). When the movie theater is ready to open in 2 months, why would he go back? Just sit on the couch another 2 months, and you'll make what you would make working full time for 4 months. As a business owner, this would destroy my business - if I care about my employees, I would recommend to them to stay home and earn so much more. But then I can't run my business when we're ready to re-open. I don't get why people are opposed to fixing this. It's not even what Dems intended - it's like we want intentionally terrible policy that no one intended because ... Republicans.
So the worst case is we pay someone to sit on their butt for an extra 2 months. Who cares? Hourly workers don't get PTO which is pretty critical for mental health, so they get some PTO. Big deal.
This would directly impact me because I was bartending part time while in school about 20 hours a week. I could not believe it when I read about this. I didn't understand why they would do it. Giving people with low incomes a lot money lol I don't think so. Give that **** to banks etc.
Small businesses care. How do they get their employees back if they are paid 2x to sit at home? The whole point of this is to provide a bridge while the economy is shut down - not to make it harder to start it back up when things get better.
Small businesses will be fine. They can adjust their wages to meet labor supply temporarily if need be. And businesses are not just got to go from 0-100 over night, there will be a ramp and this is even if this is all over in 4 months, which it most likely won't be.
paying people a measly sum to sit at home will probably save money from when these low paid workers got the Wuhan virus at their shitty jobs.
You should care a lot what that blowhard Hannity says because he is Trump's personal advisor. He is affecting policy every day., Selective editing... the story of how everyone is so unfair to Fox News.
This is how I recall trump’s use of the word “hoax.” "Selective editing?" It doesn't need it to show trump for what he is. A ****ing idiot and a liar. Fact check: Trump tries to erase the memory of him downplaying the coronavirus From cnn.com: Analysis by Daniel Dale Updated 6:34 PM ET, Tue March 17, 2020 Washington (CNN)The somber President Donald Trump of Monday's press conference bore little resemblance to the Trump who had relentlessly played down the coronavirus over the previous two months. Trump was asked Tuesday about his change in tone. He responded by claiming that his tone hadn't changed much at all. "I mean, I have seen that, where people actually liked it. But I didn't feel different," he said at a White House press briefing. "I've always known, this is a real -- this is a real -- this is a pandemic. I felt it was a pandemic long before it was called a pandemic. All you had to do was look at other countries...no, I've always viewed it as very serious. It was no difference yesterday from days before. I feel the tone is similar, but some people said it wasn't." This was another of Trump's brazen attempts to rewrite a history that played out in public view. Facts First: From January until last week, Trump consistently minimized the risk the coronavirus posed to the country. He claimed to have the virus under "control," that the number of US cases would go "down, not up," that the virus might "disappear" through a "miracle" or something of the sort, that the virus might well vanish by April with the warmer weather, that the media and Democrats were overhyping the situation, and that "this is their new hoax," leaving it unclear whether he was calling the virus itself a hoax. (He later said he was talking about Democrats' coronavirus-related criticism, not the virus.) On Monday, Trump acknowledged that the situation is "bad," that the virus is not under control, that the country might well be heading into a recession, and that American life would not get back to normal for months. He had not made such statements before. Trump has pointed to his late-January decision to restrict travel from China as evidence that he had always considered the situation "urgent." But he certainly had not clearly communicated that he felt such urgency. Prior to the World Health Organization's official pandemic declaration on March 11, Trump had never told Americans that he viewed the situation as a potential pandemic. When he was asked by CNBC in an interview that aired January 22 if there were worries about a pandemic, he responded, "No. Not at all. And -- we're -- we have it totally under control. It's one person coming in from China, and we have it under control. It's going to be just fine." On March 9, Trump tweeted, "So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that!" On March 10, the day before the WHO's pandemic declaration, Trump said, "And we're prepared, and we're doing a great job with it. And it will go away. Just stay calm. It will go away." He added: "It's really working out. And a lot of good things are going to happen."
Ff you don't like any of those - you can read the actual text of the bill here https://www.govtrack.us/congress/bills/116/hr6379/text/ih Man the list goes on and on .... Its a 1400 page wall of text.
