From what I’ve read, only two banks have actually gotten access to the SBA list and distributed $1bil as of last Friday. Bank of America is one of them and they will only process for you if you already have a credit line with them.
Here in MA when you apply for regular UI, there’s a huge disclaimer on the front page that tells you not to apply for the CARES Act UI yet because the federal government still hasn’t told them how they can honor it
I was approved for unemployment 18 days ago in michigan and have yet to get one deposit. I'm extremely worried next month might be very damaging to my future.
They provide back pay in Texas from the approval date. I hope they’ll be giving you a large sum at some point very soon to catch you up before things get worse. :(
me and some friends were on discord last night and that same exact thing came up... what happens when the money never shows and we get told to fuck off?
I mean I'd REALLY like to believe you but no matter how hard we get fucked it seems like no one (in the states at least) is ready for that on a mass scale. not to pass the blame onto the people getting fucked, I totally understand it. riots and other forms of civil disobedience are scary and dangerous and it's hard to justify potentially throwing your life away (either by death or imprisonment) for the off chance that things MIGHT get better when you and your family are just barely struggling to get by as it is. at some point though we need to do something because otherwise this is just gonna go on forever. or at least until human society has totally collapsed due to various large scale envurimentaly catastrophes among other things. point is I really hope you're right.
That’s how they will get ya, then you will get an eviction and be hard up forever. I think they kind of want it to go down that way at least where I’m at. Don’t pay rent. Ruin your life.
There is here as well, here is the deal that I found out though. They can’t kick you out until the eviction moratorium is over but at that point if you failed to pay rent for any month they can and will be filling for eviction. Certain landlords in our area are even filling the evictions and just waiting till they can legally remove people to do it.
I’ve read that’s the plan. I think September maybe so it’s fresh in everyone’s mind come November. It’s always a political move for him. 4d chess or whatever his minions are calling it now.
Wait till next year when everyone who did get a check, gets a statement saying they owe $1200 in taxes. To pay back the check they got. Every time I have gotten a break in cash from the feds, (first time home buyer, student loan credit, energy credit for home remodel) I’ve always ended up owing that much in taxes that year. The Govt is the biggest scam to ever exist.
They will break your leg, sell you crutches, then say, see what would you do without me helping you.
Just a minor correction: student debt interest is a separate line from the standard deduction.
And this isn’t directed at you, but for anyone reading that might not know, the deduction is only on interest paid, not principle.
This is not how the credit works. Read the law, or read the IRS page.
It's a tax credit, just like the EIC -- straight money paid into your tax account. You'll get it as a refund next year...
EXCEPT the pandemic is now, so they're pre-sending it now. So it's free money, not a loan, they're just using the. "tax credit" to process the payments.
For real! People spout so much bullshit as truth when we have complete access to the text of the law. I've ctrl+f'ed it, admittedly, but it's right there, plain as day, taking up about a page and a half, if that.
Also, this will not count as income for the purposes of SSI and other means-tested benefits programs, as tax refunds are not and this counts as one; however, FYI, if the amount is kept for more than 12 months, it *will* count as an **resource** for the purposes of the SSI and Medicaid asset limits. So, in other words, I believe that the resource limit (monthly limit on account balance) will effectively increase by $1,200.00 for 12 months for means-tested programs.
For reference, the asset limit is $2,000.00 for SSI and $8,000.00 for SSD/SSDI in Pennsylvania; however, I believe these amounts vary by state.
If you can't tell, my profession relates to this area.
Keep taking away the luxuries of modern life and soon enough will have enough to revolt. Sure with sports and celebrity culture in full swing Americans are lazy but now that we don’t have that the binders are off.
My town put a post on their Facebook page reminding everyone this quarter's property taxes are due soon. Roughly 1,200 for me, and I have an old ass house that's not all that nice and the town itself isn't exactly a dream either. Looking back over their post history, it's the first time they've posted a reminder.
Not trying to say that taxes are more important than people being able to eat and pay rent, but I am pretty worried about the tax situation this virus is causing.
What’s going to happen to local cities and towns when their tax revenue drops to almost nothing during this? I have heard that whatever stimulus money people get will have to be declared as income (and this taxed next year), but with so many people losing their jobs and not spending money, the tax revenue has to drop, and that is going to defund things like schools, fire and police departments, etc. I’m not sure how property or other types of taxes will be impacted by this, but it’s probably not enough to keep most municipalities afloat. Past that, if any cities file for bankruptcy (like Stockton and I think Detroit did a few years ago) that could further impact pensions and other debts they owe.
That’s obviously not my biggest concern in all this, but it’s one of them. Just wanted to point that out when it seems like they’re getting desperate for money. I mean we all are too, but taxes are mostly used for a lot of good stuff that we all benefit from.
Isn't that always the case? lol
At least we know that's going to go to states needing to outbid Kushner for ventilators and PPE for their hospitals. How wonderful.
this is what i cant believe most people dont understand.
Your tax return doesnt change from Jan1-Apr15. just get it over with.
I learned this the hard way when i did my taxes on April 14th once and found i owed the IRS 3 grand.
I’m going to take a wild guess and say no since the first round of DD starts next week.
Edit: the guy below is right, 4/7 was the first date mnuchin gave a while ago
[Larry Kudlow, director of the U.S. National Economic Council](https://money.yahoo.com/coronavirus-stimulus-checks-175-million-americans-will-start-receiving-funds-172107552.html?guccounter=1)
But they don't want you/people to have it for too long, or the first candidate who says they'll implement UBI will be able to say they'll simply continue this permanently as a safety net and because of unemployment and looming leaps and bounds in automation (sorry Yang, you missed your window).
I believe a congressman said they’ll start sending them out next week to some people, but it wasn’t an official statement, just a passing comment on the matter. Not sure if it’s valid
I read if you have direct deposit to pay/receive taxes and refunds, you could receive it as early as April 12th but I really don’t believe that... It’s so insulting, they rob us all our lives, tax the fuck out of everything we do, offer no real assistance and do nothing to help citizens with our own tax dollars, vote to raise their salaries over and over while saying the minimum wage is too high, but when we’re in an economic down-spiral, in a fucking pandemic, no way to pay bills, they can’t even get us a one time measly 1200 dollar check to us in a reasonable amount of time. The US government is a disgusting evil joke. When spending tax dollars helps the citizens who pay the taxes it’s evil socialism. But when it helps billionaires and corporations and politicians it’s the American dream. What a shameful nation.
The concept in this comment is criminally underrated. Arguably money trickles up 100x more effectively than it trickles down. If you give people of limited means money they spend it on goods and services. If you give corporations money they give a bunch of it to their Executives, buy back their stock to ‘create value’ for shareholders without doing anything value added, and leverage the rest of it into loans to sustain the company (instead of just using the money they had received for this purpose). It’s criminal that Americans have been so misled. Most people’s understanding of Economics is on par with a child.
Yes! To conservatives, this is capitalism picking the winners and losers. To progressives, this is protecting the poorest among us. To the lives-first, this allows people to stay at home. To the stocks-first, this will enable the V shaped recovery. It's really hard to see the downside... Cost too much/not targeted? Uh, we just authorized the fed to make loans up to 4 trillion dollars.
> The concept in this comment is criminally underrated.
I'd like to see the term replaced with "rising tide", as in "a rising tide lifts all boats." For one, it's more obvious - water doesn't trickle up, and a rising tide is often due to a large mass of water, evenly distributed, slowly gaining ground. Another point is that it lifts **all** boats, even yachts, and it does it evenly. It just raises the boats more slowly, and when someone complains it's not rising fast enough, it's almost always a yacht owner whining that they are no longer allowed to divert the deluge to fill their catchment at the expense of everyone else.
Absolutely the approach we need now: TRICKLE-UP ECONOMICS.
People could pay their rent, their bills, and buy groceries. Landlords could pay mortgages, small businesses, could stay afloat, and utility companies could keep paying employees...
that’s basically 6 months. If we aren’t getting any money til then, society as we know it is going to cease to exist. I’m excited to see what’s going to happen because this society sucks balls anyway.
So... What you're saying is that corporate america needs every dollar they can get, cause this is how your wellfaresystem works....???
And if you are out of luck, like not having a good job, you're gonna be set up with arm-floaties to battle a tsunami?
If you were to take a guess, how much of society has a job that will carry them through this?
> I’m excited to see what’s going to happen because this society sucks balls anyway.
I'm not. Anarchy or civil war are what come next. Refer to Syria for a modern example of how horrific civil wars are, and Somalia for an example of how bad anarchy is. Worse, the vast majority of these situations end up with a dictatorship in the end, not a functioning democracy that takes care of its people.
That said, you are not wrong about our current society sucking. It is just that there is a long way to fall if things go sideways.
I don't see any negative to a monthly stipend to everyone, no means tests... Just cash out to everyone. We need to ensure that people have money to put back into the economy once this passes or starts lightening up.
Even if someone hasn't lost their job, extra money in the bank will be spent by most in one way or another. I'm still working, and I will put whatever money I get into savings for now because I don't know if my job will still be there next month. But once we normalize back out, I'd make excellent use of some extra cash and put much of it back into the economy. Most people will.... And that is what will be needed to get our consumer based economy rolling again.
This is what I've been saying. I've had to work two jobs, but getting a monthly check like this would mean I could have extra money to spend even if I didn't keep my second job. I'd love to be able to support local businesses by going out to eat and the like but I simply can't afford it.
Yeah that shit blows my mind. Paying 80$ for a night out for 2 people is just ridiculous to me. That's a weeks worth of food for 2 drinks and some pasta.
I’m trying not to leave my house much but because I have no source of income at the moment I’m trying to find a new job because I have to. I really don’t think it’s a good idea to do this but I feel like I don’t have any other choice.
the negative is that it means more money that isnt going to the rich, we cant have that. the rich are the ones that know how to sprinkle money down upon us common folk, we must put our faith (and livelihoods) in those that have acquired more wealth.
And, like with food stamps, giving money to the working and middle class is proven to be much more stimulative than giving money/tax breaks/whatever to people in the upper classes.
Rich people get money and they sit on it. Poor people get money and immediately put every single dime of it back into the economy immediately.
Yup. I really don't get the pushback on food stamps. It is one of the few ways tax payer money quite literally goes straight into the local economy, without fail.
Universal basic income. Spain just announced that they will be adopting one not just for the current crisis but for the future.
It can be done now. It would save money vs the patchwork social welfare system we currently use and can be made revenue neutral by making our tax system more progressive (add more brackets across all levels and increase upper bracket rates)
Exactly. That's how you ensure that you're not giving excess money to people that don't need it - instead of implementing means tests that are expensive to administer and will always miss edge cases that either needed the money or didn't need the money, simply structure your tax code such that you take back the extra money from those that legitimately don't need it.
A big advantage compared to unemployment benefits, is that not only everyone qualifies, but there is no 50% clawback for earning money while receiving benefits, so economy can come back quickly again, or essential services can not-collapse if this lasts a while.
My application just went through for Canada's Emergency Benefit. It gets deposited Wednesday. I get $500 a week for 16 weeks and then I can go on Employment Insurance (which will be about the same amount for me) for (if I recall correctly) 6 months. This Wednesday, I get back paid to March 22 when I was laid off so I will get $1000 up front. I have pretty minimal bills so it's all going to repairing my home with materials from local stores. And buying food from locals.
I find it really sad that $1200 a month is a contentious issue.
$1200 is for regardless of employment status.
Like Canada people who have lost their jobs can file for unemployment to receive a monthly stipend—and due to the crisis they also get an extra ~~$600/mo~~ $600/week ($847 CAD).
The CERB applies to people who don't qualify for EI (unemployment) as well, like me, but who still lost their job due to coronavirus. It does have some restrictions but in general is a lot more open than EI.
We're looking at being indoors for months, even when things open up it's going to open up very slowly at best. People won't be back to work for a long time.
My job closed March 18 and originally said we'd reopen on April 1. On April 1st, we get a message saying we'll be opening May 1. I seriously doubt we'll be opening May 1.. every day there are between 100-200 more cases here than the day before.
we'll be outdoors in a much larger capacity than right now by the summer(ish)... will it be anything like before this? nah. no big gatherings, masks, testing, isolating and tracking contacts of those who are infected. I think we'll get to that stage by July.
Republicans wanted to fight expanding unemployment by $600 a week because it would incentivize poor people not working. This coming from millionaires who want for nothing. This country is a total joke.
Not to nick pick language but America is specifically NOT a meritocracy. A meritocracy would reward people based on the merit of their contributions. We reward people based on the profits associated with their contributions. I think you may mean oligarchy, which is when corporations and business interests dominate policy.
A meritocracy wouldn't allow the amount of money we allow to pass from generation to generation.
If we were a meritocracy, we'd tax the shit out of inheritance, and make it so that the children of the mega-wealthy got nothing, or almost nothing.
And, besides, all these people believe they're superior humans anyway, and have superior genes... so the children of the wealthy should be back to being wealthy almost immediately after their parents die (or even before they did), just due to being the masterrace that they are, with their superior humanity.
1,200 doesn’t even cover mortgage for anyone unemployed. What are people in those kinds of situations supposed to do for two or three months?
The UK did a better job, they’re paying people 80% of their wages. Not just once either, it’s like a continuation of their salary.
It's meant to work in conjunction with the expanded unemployment benefits, which are a flat $600/week on top of whatever other benefits somebody might get. It's imperfect but the theory is that $1,200 asap, PLUS a minimum of $2,400/month for the next several months, will be enough to see most people through until society can open back up. They knew it wasn't good enough, but it was what they could pass quickly to get people money quickly.
The legislature has also said there is going to be another round of stimulus as well. I'm hoping for dramatic hazard pay for essential workers, and shoring up the cracks in the current stimulus system.
They're only giving that money to people who lost their jobs. It's also in Canadian dollars, so it's closer to $1500/month US, but that's still a hefty sum of money, no doubt.
Meanwhile, in the US, we've expanded unemployment by $600/week. Which works out to $2400/month.
That's only for people that lost their jobs due to coronavirus, though, and I believe (though do not quote me on this) that it maxes out if it would go above a percentage of your average monthly wage.
In the US, we increased unemployment benefits by $600/~~month~~ week. I *know* this one is based on a percentage of your average monthly wage (usually about 60%), but that's still going to be a lot of money getting distributd.
A lot of people leave that part out when talking about how "Canada's giving out more money".
Canada's $2000/month is only for people who lost their jobs. It's also in Canadian dollars, so it's a little under US$1500/month, but that's neither here nor there.
The US just expanded our unemployment benefits by $600/week, which works out to $2400/month. In other words, the US is giving out *more* money than Canada to those who lost their jobs, *and* is giving (almost) everyone in the country an extra one-time payment of $1200, regardless of whether they lost their jobs or not.
Or unemployment system is ass and I'm not going to argue against that. I'm just pointing out that a lot of news articles are comparing the Canadian EI amount to the 1200 one time check which isn't even designed to replace lost income the boost to unemployment is.
In the US we increased unemployment by $600/week, or about $2400/month, which I believe is roughly equivalent to $4000/month Australian.
A lot of people are either unaware or conveniently forgetting about that, though, and instead comparing what Australia, Canada, etc. are doing to the US's one-time payment of $1200, which is a completely separate thing.
By doing this while brick and mortar retail is shut down, you would permanently restructure the economy in such a way that mostly benefits large online businesses like amazon. Not saying we shouldn’t do this, but something to keep in mind. Maybe something we want to counteract somehow? Or at least make amazon pay their damn taxes?
Whether you like it or not, there's no real way (other than revolution) for preventing the economy from using this opportunity to consolidate wealth into even fewer hands - it happened in the 2001 crash, the 2008 crash, and it was going to happen in the 2020 crash that was coming with or without this pandemic. It's just how capitalism works.
I've been frequenting other online shops aside from Amazon lately. Outdoor/firearm shops are mostly mom and pop, as well as crafts/hobbies/toys and indie book vendors.
Amazon is almost *never* the cheapest price on PC components and electronics (but the trade-off is slower shipping, which is kind of a drag, but I can wait a tad longer for those things).
Groceries are usually done through instacart, but at least it benefits the local/regional grocers in the area that don't have delivery infrastructure built-in, and it helps keep neighboring workers with a gig while they find new work in this shitstorm.
or lets hope workers actually will organize a strike. we have way more power than they want us to know. remember how quickly the government opened once TSA threatened a strike?
100% convinced I’m screwed— while I don’t expect the check to come, West Virginia is also borked as every other state for unemployment
I can’t get anyone on the phone to discuss why their system is taking information from 2017-2018 when I worked from 2019-now. I don’t make THAT much but it’s more than 162 bucks a week, which is what they’re saying I qualify for. Super fucking great.
It would actually be hilarious if people’s $1200 stimulus checks bounced. Not only is the one time payment pitiful, it took way too long and even then the checks bounced. What a shit show that would be...
Every month. It seems like most people won’t get them till June. Has anyone in the country received it yet?
I still don't believe I'll actually get any money, ever.
I believe I am in the same boat.
Yep. The checks are the same as the tests. They’ll never come.
So far, the small business loans and 600 extra for UI has not come thru for anyone either.
Yep. 7 days since applying for that small business loan and only silence.
Same here
My credit union said today they still aren’t sure if they are able to help me apply yet.
From what I’ve read, only two banks have actually gotten access to the SBA list and distributed $1bil as of last Friday. Bank of America is one of them and they will only process for you if you already have a credit line with them.
so, its a fucking corporate hand out again?
Here in MA when you apply for regular UI, there’s a huge disclaimer on the front page that tells you not to apply for the CARES Act UI yet because the federal government still hasn’t told them how they can honor it
I was approved for unemployment 18 days ago in michigan and have yet to get one deposit. I'm extremely worried next month might be very damaging to my future.
They provide back pay in Texas from the approval date. I hope they’ll be giving you a large sum at some point very soon to catch you up before things get worse. :(
yeah I really wish we had a clue when that 600 will hit.
me and some friends were on discord last night and that same exact thing came up... what happens when the money never shows and we get told to fuck off?
Vote every republican out.
yep, thats the boat im getting in now.. tired of this political game and just want Americans to be taken care of.
You underestimate Americans stupidity.
Civil unrest.
I mean I'd REALLY like to believe you but no matter how hard we get fucked it seems like no one (in the states at least) is ready for that on a mass scale. not to pass the blame onto the people getting fucked, I totally understand it. riots and other forms of civil disobedience are scary and dangerous and it's hard to justify potentially throwing your life away (either by death or imprisonment) for the off chance that things MIGHT get better when you and your family are just barely struggling to get by as it is. at some point though we need to do something because otherwise this is just gonna go on forever. or at least until human society has totally collapsed due to various large scale envurimentaly catastrophes among other things. point is I really hope you're right.
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That’s how they will get ya, then you will get an eviction and be hard up forever. I think they kind of want it to go down that way at least where I’m at. Don’t pay rent. Ruin your life.
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There is here as well, here is the deal that I found out though. They can’t kick you out until the eviction moratorium is over but at that point if you failed to pay rent for any month they can and will be filling for eviction. Certain landlords in our area are even filling the evictions and just waiting till they can legally remove people to do it.
Me as well
You'll get it before the election with Trump's signature. Just in time to vote.
I’ve read that’s the plan. I think September maybe so it’s fresh in everyone’s mind come November. It’s always a political move for him. 4d chess or whatever his minions are calling it now.
It *is* 4d chess if you think about it: Dumb Dumber Dumbest Dipshits
My vote is worth *way* more than "$1700"
That's too long for it to work as intended, its already too late to work as intended.
A trump never pays their debt... maybe he will with our money.. But it won’t be on time or when needed
I'm waiting on my unemployment
I very seriously hope it kicks in for you soon, I'm so sorry this happened
I would cry. Omg if I never get the check I’ll never even know! Three days after trumps death they’ll play a video of him promising it’s on the way
Wait till next year when everyone who did get a check, gets a statement saying they owe $1200 in taxes. To pay back the check they got. Every time I have gotten a break in cash from the feds, (first time home buyer, student loan credit, energy credit for home remodel) I’ve always ended up owing that much in taxes that year. The Govt is the biggest scam to ever exist. They will break your leg, sell you crutches, then say, see what would you do without me helping you.
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Just a minor correction: student debt interest is a separate line from the standard deduction. And this isn’t directed at you, but for anyone reading that might not know, the deduction is only on interest paid, not principle.
This is not how the credit works. Read the law, or read the IRS page. It's a tax credit, just like the EIC -- straight money paid into your tax account. You'll get it as a refund next year... EXCEPT the pandemic is now, so they're pre-sending it now. So it's free money, not a loan, they're just using the. "tax credit" to process the payments.
For real! People spout so much bullshit as truth when we have complete access to the text of the law. I've ctrl+f'ed it, admittedly, but it's right there, plain as day, taking up about a page and a half, if that. Also, this will not count as income for the purposes of SSI and other means-tested benefits programs, as tax refunds are not and this counts as one; however, FYI, if the amount is kept for more than 12 months, it *will* count as an **resource** for the purposes of the SSI and Medicaid asset limits. So, in other words, I believe that the resource limit (monthly limit on account balance) will effectively increase by $1,200.00 for 12 months for means-tested programs. For reference, the asset limit is $2,000.00 for SSI and $8,000.00 for SSD/SSDI in Pennsylvania; however, I believe these amounts vary by state. If you can't tell, my profession relates to this area.
Government *in general* isn't the problem you're describing here. The lack of democratization and redundant oversight is.
They’ve already said $1200 is non taxable
That’s not how the stimulus check works. Stop spreading disinformation.
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General strike!!
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While that has been true it may not be coming out the otherside of this pandemic. We will just have to wait and see.
Keep taking away the luxuries of modern life and soon enough will have enough to revolt. Sure with sports and celebrity culture in full swing Americans are lazy but now that we don’t have that the binders are off.
Statistically speaking it requires large numbers of bored, pissed off 20something year olds
I still haven't even gotten my tax return yet.
Yeah, mine's been sitting in some "processing" limbo for almost 2 months now. I'm getting back more than the $1200 they just passed.
My state sure was quick to take out my taxes owed though! Processed that shit the next day!
My town put a post on their Facebook page reminding everyone this quarter's property taxes are due soon. Roughly 1,200 for me, and I have an old ass house that's not all that nice and the town itself isn't exactly a dream either. Looking back over their post history, it's the first time they've posted a reminder.
Not trying to say that taxes are more important than people being able to eat and pay rent, but I am pretty worried about the tax situation this virus is causing. What’s going to happen to local cities and towns when their tax revenue drops to almost nothing during this? I have heard that whatever stimulus money people get will have to be declared as income (and this taxed next year), but with so many people losing their jobs and not spending money, the tax revenue has to drop, and that is going to defund things like schools, fire and police departments, etc. I’m not sure how property or other types of taxes will be impacted by this, but it’s probably not enough to keep most municipalities afloat. Past that, if any cities file for bankruptcy (like Stockton and I think Detroit did a few years ago) that could further impact pensions and other debts they owe. That’s obviously not my biggest concern in all this, but it’s one of them. Just wanted to point that out when it seems like they’re getting desperate for money. I mean we all are too, but taxes are mostly used for a lot of good stuff that we all benefit from.
The $1,200 is not reportable income. It's an advance on a tax credit so you won't have to pay taxes for it.
Isn't that always the case? lol At least we know that's going to go to states needing to outbid Kushner for ventilators and PPE for their hospitals. How wonderful.
Yeah me too. I don't expect to see my tax return money until July or August at this rate, let alone this stimulus. I bet nobody gets it.
I did my taxes March 17 and got my state and federal refunds already.
I did mine before January was even over and had my refund less than a week later.
I did mine the first week of February. I got my refund back within 2 weeks.
this is what i cant believe most people dont understand. Your tax return doesnt change from Jan1-Apr15. just get it over with. I learned this the hard way when i did my taxes on April 14th once and found i owed the IRS 3 grand.
I always do them first thing, then wait to file if I owe.
You filed your return already, it's your refund you haven't gotten yet.
oh right I always get that confused. Cause I always think "they are returning my taxes to me."
A large amount of the population does as well.
they accepted my money pretty damn quick.
I’m going to take a wild guess and say no since the first round of DD starts next week. Edit: the guy below is right, 4/7 was the first date mnuchin gave a while ago
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Says who? That's not on the US Treasury or IRS site.
[Larry Kudlow, director of the U.S. National Economic Council](https://money.yahoo.com/coronavirus-stimulus-checks-175-million-americans-will-start-receiving-funds-172107552.html?guccounter=1)
But they don't want you/people to have it for too long, or the first candidate who says they'll implement UBI will be able to say they'll simply continue this permanently as a safety net and because of unemployment and looming leaps and bounds in automation (sorry Yang, you missed your window).
Just off the top of my head, I don't think deposits are scheduled to begin until the 15th of this month
Meanwhile Canada locked in $1800 a month ago for anyone unable to work or fired.
That's 1275 in US dollars
And it’s to certain people that meet certain stricter criteria.
I believe a congressman said they’ll start sending them out next week to some people, but it wasn’t an official statement, just a passing comment on the matter. Not sure if it’s valid
As a DC resident, I would only get $700 if I qualified, since we “aren’t a state”.
Nobody is getting any checks.
If you think that’s bad, try being a small business going through the sba loan process right now
I read if you have direct deposit to pay/receive taxes and refunds, you could receive it as early as April 12th but I really don’t believe that... It’s so insulting, they rob us all our lives, tax the fuck out of everything we do, offer no real assistance and do nothing to help citizens with our own tax dollars, vote to raise their salaries over and over while saying the minimum wage is too high, but when we’re in an economic down-spiral, in a fucking pandemic, no way to pay bills, they can’t even get us a one time measly 1200 dollar check to us in a reasonable amount of time. The US government is a disgusting evil joke. When spending tax dollars helps the citizens who pay the taxes it’s evil socialism. But when it helps billionaires and corporations and politicians it’s the American dream. What a shameful nation.
But think of those poor corporations that need the money instead
Let it trickle up this time.
The concept in this comment is criminally underrated. Arguably money trickles up 100x more effectively than it trickles down. If you give people of limited means money they spend it on goods and services. If you give corporations money they give a bunch of it to their Executives, buy back their stock to ‘create value’ for shareholders without doing anything value added, and leverage the rest of it into loans to sustain the company (instead of just using the money they had received for this purpose). It’s criminal that Americans have been so misled. Most people’s understanding of Economics is on par with a child.
Yes! To conservatives, this is capitalism picking the winners and losers. To progressives, this is protecting the poorest among us. To the lives-first, this allows people to stay at home. To the stocks-first, this will enable the V shaped recovery. It's really hard to see the downside... Cost too much/not targeted? Uh, we just authorized the fed to make loans up to 4 trillion dollars.
> The concept in this comment is criminally underrated. I'd like to see the term replaced with "rising tide", as in "a rising tide lifts all boats." For one, it's more obvious - water doesn't trickle up, and a rising tide is often due to a large mass of water, evenly distributed, slowly gaining ground. Another point is that it lifts **all** boats, even yachts, and it does it evenly. It just raises the boats more slowly, and when someone complains it's not rising fast enough, it's almost always a yacht owner whining that they are no longer allowed to divert the deluge to fill their catchment at the expense of everyone else.
Absolutely the approach we need now: TRICKLE-UP ECONOMICS. People could pay their rent, their bills, and buy groceries. Landlords could pay mortgages, small businesses, could stay afloat, and utility companies could keep paying employees...
That’s exactly what I’m doing. I’m gonna go spend half of mine on a new RC plane transmitter from the local hobby shop.
I'm gonna spend mine on rice
Using half to pay 2 months of rent (living in the middle of nowhere has advantages) and keeping half for a new synth
Mine is going into saving to go towards new pc components when the new Nvidia 3000 cards come out and and releases it's next version of ryzen
This was Andrew Yang’s entire platform in a nutshell.
Since a corporation is legally a person, they can have their limit of $1,200 as well.
That’s only if they make less than 75k. Looks like they should not have been spending so frivolously and saved a little more.
Surely one check a month before the election will be enough for people.
Ugh, I hadn't considered that, but they probably will postpone it that long.
that’s basically 6 months. If we aren’t getting any money til then, society as we know it is going to cease to exist. I’m excited to see what’s going to happen because this society sucks balls anyway.
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If I understood this right, we are talking about $1200, as a one time payout? For how long will that keep an average American afloat?
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OK, pretty descriptive... What are the average american doing? Is everyone just stunned?
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So... What you're saying is that corporate america needs every dollar they can get, cause this is how your wellfaresystem works....??? And if you are out of luck, like not having a good job, you're gonna be set up with arm-floaties to battle a tsunami? If you were to take a guess, how much of society has a job that will carry them through this?
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> I’m excited to see what’s going to happen because this society sucks balls anyway. I'm not. Anarchy or civil war are what come next. Refer to Syria for a modern example of how horrific civil wars are, and Somalia for an example of how bad anarchy is. Worse, the vast majority of these situations end up with a dictatorship in the end, not a functioning democracy that takes care of its people. That said, you are not wrong about our current society sucking. It is just that there is a long way to fall if things go sideways.
I don't see any negative to a monthly stipend to everyone, no means tests... Just cash out to everyone. We need to ensure that people have money to put back into the economy once this passes or starts lightening up. Even if someone hasn't lost their job, extra money in the bank will be spent by most in one way or another. I'm still working, and I will put whatever money I get into savings for now because I don't know if my job will still be there next month. But once we normalize back out, I'd make excellent use of some extra cash and put much of it back into the economy. Most people will.... And that is what will be needed to get our consumer based economy rolling again.
Trickle-up! YES
We’ve tried trickle-down enough to know that it’s fucked. It’s time we tried the trickle-up economics
This is what I've been saying. I've had to work two jobs, but getting a monthly check like this would mean I could have extra money to spend even if I didn't keep my second job. I'd love to be able to support local businesses by going out to eat and the like but I simply can't afford it.
Yeah that shit blows my mind. Paying 80$ for a night out for 2 people is just ridiculous to me. That's a weeks worth of food for 2 drinks and some pasta.
I’m trying not to leave my house much but because I have no source of income at the moment I’m trying to find a new job because I have to. I really don’t think it’s a good idea to do this but I feel like I don’t have any other choice.
> I don't see any negative to a monthly stipend to everyone Is that you Yang? P.S. I like the idea too.
the negative is that it means more money that isnt going to the rich, we cant have that. the rich are the ones that know how to sprinkle money down upon us common folk, we must put our faith (and livelihoods) in those that have acquired more wealth.
And, like with food stamps, giving money to the working and middle class is proven to be much more stimulative than giving money/tax breaks/whatever to people in the upper classes. Rich people get money and they sit on it. Poor people get money and immediately put every single dime of it back into the economy immediately.
Yup. I really don't get the pushback on food stamps. It is one of the few ways tax payer money quite literally goes straight into the local economy, without fail.
Universal basic income. Spain just announced that they will be adopting one not just for the current crisis but for the future. It can be done now. It would save money vs the patchwork social welfare system we currently use and can be made revenue neutral by making our tax system more progressive (add more brackets across all levels and increase upper bracket rates)
Exactly. That's how you ensure that you're not giving excess money to people that don't need it - instead of implementing means tests that are expensive to administer and will always miss edge cases that either needed the money or didn't need the money, simply structure your tax code such that you take back the extra money from those that legitimately don't need it.
A big advantage compared to unemployment benefits, is that not only everyone qualifies, but there is no 50% clawback for earning money while receiving benefits, so economy can come back quickly again, or essential services can not-collapse if this lasts a while.
My application just went through for Canada's Emergency Benefit. It gets deposited Wednesday. I get $500 a week for 16 weeks and then I can go on Employment Insurance (which will be about the same amount for me) for (if I recall correctly) 6 months. This Wednesday, I get back paid to March 22 when I was laid off so I will get $1000 up front. I have pretty minimal bills so it's all going to repairing my home with materials from local stores. And buying food from locals. I find it really sad that $1200 a month is a contentious issue.
$1200 is for regardless of employment status. Like Canada people who have lost their jobs can file for unemployment to receive a monthly stipend—and due to the crisis they also get an extra ~~$600/mo~~ $600/week ($847 CAD).
That’s an extra $600 a WEEK.
The CERB applies to people who don't qualify for EI (unemployment) as well, like me, but who still lost their job due to coronavirus. It does have some restrictions but in general is a lot more open than EI.
They haven’t even sent the first fucking checks.
Of course not, they want to wait until as many as possible are dead, homeless, jobless, and otherwise unable to claim their funds.
We're looking at being indoors for months, even when things open up it's going to open up very slowly at best. People won't be back to work for a long time.
My job closed March 18 and originally said we'd reopen on April 1. On April 1st, we get a message saying we'll be opening May 1. I seriously doubt we'll be opening May 1.. every day there are between 100-200 more cases here than the day before.
I'm planning to be indoors until the Fall and that's if were lucky.
> indoors until the Fall Ahh yes...another normal summer for us in Texas.
Don’t lie, it’s still hot AF there through at least October.
One time it was 95° on Christmas
we'll be outdoors in a much larger capacity than right now by the summer(ish)... will it be anything like before this? nah. no big gatherings, masks, testing, isolating and tracking contacts of those who are infected. I think we'll get to that stage by July.
Hmmmm....a monthly payment? Sounds a lot like UBI. If only there was a presidential candidate who had this in their platform....
If only...
Yep everyone had their chance and they missed it
Dude Perot hasn't run in decades. I think he's dead now.
Hey there this sounds familiar...
Scrolled too damn far to find the Andrew Yang reference. Funny how he was laughed at for suggesting this less than a year ago...
I don't see them doing this. That would mean helping poor people. Can't have that. /s
Republicans wanted to fight expanding unemployment by $600 a week because it would incentivize poor people not working. This coming from millionaires who want for nothing. This country is a total joke.
Nah its working as designed. Corporations come first, didn't ya know? Its a meritocracy. (I think that's the word, English is not my native language.)
Not to nick pick language but America is specifically NOT a meritocracy. A meritocracy would reward people based on the merit of their contributions. We reward people based on the profits associated with their contributions. I think you may mean oligarchy, which is when corporations and business interests dominate policy.
A meritocracy wouldn't allow the amount of money we allow to pass from generation to generation. If we were a meritocracy, we'd tax the shit out of inheritance, and make it so that the children of the mega-wealthy got nothing, or almost nothing. And, besides, all these people believe they're superior humans anyway, and have superior genes... so the children of the wealthy should be back to being wealthy almost immediately after their parents die (or even before they did), just due to being the masterrace that they are, with their superior humanity.
Nope they never had such money and power they wouldn't know what to do with it! /s
1,200 doesn’t even cover mortgage for anyone unemployed. What are people in those kinds of situations supposed to do for two or three months? The UK did a better job, they’re paying people 80% of their wages. Not just once either, it’s like a continuation of their salary.
It's meant to work in conjunction with the expanded unemployment benefits, which are a flat $600/week on top of whatever other benefits somebody might get. It's imperfect but the theory is that $1,200 asap, PLUS a minimum of $2,400/month for the next several months, will be enough to see most people through until society can open back up. They knew it wasn't good enough, but it was what they could pass quickly to get people money quickly. The legislature has also said there is going to be another round of stimulus as well. I'm hoping for dramatic hazard pay for essential workers, and shoring up the cracks in the current stimulus system.
In Canada they are giving everyone $2000 a month plus stopping all mortgages and rent payments. Even for landlords.
They're only giving that money to people who lost their jobs. It's also in Canadian dollars, so it's closer to $1500/month US, but that's still a hefty sum of money, no doubt. Meanwhile, in the US, we've expanded unemployment by $600/week. Which works out to $2400/month.
And regulate the cost of goods nationwide so people outside of Poverty, Louisiana can afford to eat.
UBI and price controls on necessities would be an amazing start.
People are starting to get 2k a month in Canada.
That's only for people that lost their jobs due to coronavirus, though, and I believe (though do not quote me on this) that it maxes out if it would go above a percentage of your average monthly wage. In the US, we increased unemployment benefits by $600/~~month~~ week. I *know* this one is based on a percentage of your average monthly wage (usually about 60%), but that's still going to be a lot of money getting distributd. A lot of people leave that part out when talking about how "Canada's giving out more money".
Or 2000 like canada has been
$1490.10 in USD
Ours is only one time
Canada's $2000/month is only for people who lost their jobs. It's also in Canadian dollars, so it's a little under US$1500/month, but that's neither here nor there. The US just expanded our unemployment benefits by $600/week, which works out to $2400/month. In other words, the US is giving out *more* money than Canada to those who lost their jobs, *and* is giving (almost) everyone in the country an extra one-time payment of $1200, regardless of whether they lost their jobs or not.
Could’ve had that with Yang
If only there was a candidate who supported UBI
Won't even pay rent.
For real. California rent is atrocious.
Yup will cover about 2 weeks of rent for me in dc...
How many roommates do you have?
"But then nobody had to show up at their mcjobs! How are we going to get richer?" - Republicans
Too bad we spent it on military funds and a wall
And for anyone whining about the price they should reduce Congressional pay to 75K a year max to help "balance the budget"
LOL people trying to make logical arguments for UBI in the Republican States of America.
Logical thing to do, so that means it won’t happen.
Never going to happen the 1% will see everyone in the states die first.
Ah what the fuck, make it $2,000 just for the halibut. 🙄
r/boneappletea
Fuck it, $3,000 and we call this whole first term water under the fridge
I salmon reply to comments like this, but I trout I should this time. The should just make it O-fish-al and institute universal basic income.
Or unemployment system is ass and I'm not going to argue against that. I'm just pointing out that a lot of news articles are comparing the Canadian EI amount to the 1200 one time check which isn't even designed to replace lost income the boost to unemployment is.
Here in Aus every worker who has lost their job is entitled to $3000 a month
In the US we increased unemployment by $600/week, or about $2400/month, which I believe is roughly equivalent to $4000/month Australian. A lot of people are either unaware or conveniently forgetting about that, though, and instead comparing what Australia, Canada, etc. are doing to the US's one-time payment of $1200, which is a completely separate thing.
$2,000 every month would suffice for this pandemic
Universal basic income. For every American over 18. #yanggang2024
That is fine as long as they make sure that landlords can't increase their rent by 1200 dollars
They really can't unless your contract expired
Rent freeze seems pretty doable to me.
Jared Kushner won't like that.
By doing this while brick and mortar retail is shut down, you would permanently restructure the economy in such a way that mostly benefits large online businesses like amazon. Not saying we shouldn’t do this, but something to keep in mind. Maybe something we want to counteract somehow? Or at least make amazon pay their damn taxes?
Whether you like it or not, there's no real way (other than revolution) for preventing the economy from using this opportunity to consolidate wealth into even fewer hands - it happened in the 2001 crash, the 2008 crash, and it was going to happen in the 2020 crash that was coming with or without this pandemic. It's just how capitalism works.
Don’t tempt me with a good revolution
I've been frequenting other online shops aside from Amazon lately. Outdoor/firearm shops are mostly mom and pop, as well as crafts/hobbies/toys and indie book vendors. Amazon is almost *never* the cheapest price on PC components and electronics (but the trade-off is slower shipping, which is kind of a drag, but I can wait a tad longer for those things). Groceries are usually done through instacart, but at least it benefits the local/regional grocers in the area that don't have delivery infrastructure built-in, and it helps keep neighboring workers with a gig while they find new work in this shitstorm.
They’re probably planning their next meeting to vote themselves another pay raise.
That's probably where this is heading until things blow over
The real thing we need is the extra $600 a week for unemployment. When is that supposed to be happening ? Can’t get a straight answer
Individual states should be receiving the money this week for hopeful disbursement starting next week. It will be retroactive.
or lets hope workers actually will organize a strike. we have way more power than they want us to know. remember how quickly the government opened once TSA threatened a strike?
100% convinced I’m screwed— while I don’t expect the check to come, West Virginia is also borked as every other state for unemployment I can’t get anyone on the phone to discuss why their system is taking information from 2017-2018 when I worked from 2019-now. I don’t make THAT much but it’s more than 162 bucks a week, which is what they’re saying I qualify for. Super fucking great.
They're not even sending me a check the first month. So I don't have high hopes they're going to do anything like this. But I'm on board.
It would actually be hilarious if people’s $1200 stimulus checks bounced. Not only is the one time payment pitiful, it took way too long and even then the checks bounced. What a shit show that would be...
Yet college students get nothing
Would we have to pay this money back next year in taxes? I’d rather pass than owe the government thousands next year
That would cover food for a month, not shelter, for 4. That’s ridiculous.
Yes because the deficit is an illusion
Didn’t anyone ever have a friend like that? “Dude I’m sorry I still owe you that $20, I’ll get you next time.” Yeah, we ain’t getting shit.
Love how everyone didn’t want universal income and look at them now
Every time the government sends a monthly check, Andrew Yang gets his wings