Entitled? I’m talking about literally saving peoples lives. 4K a month is going to help the poor waaaaaay more than the upper middle class.
It will actually let them breath for a bit. I don’t think you realize how dire things are for the working poor in America. Lol entitled.
You know things are bad when you don’t work in economics but you’re hearing the words “commercial paper” uttered together on the teevee
Some would say our constitution entitles us to life
Because it means if someone makes 20k/year both years then they have to come up with a way to pay that money back and if they go up from 20k - 40k then they have to pay double back, which may be almost all of their increase.
And if they drop from 20k to 10k this year they have to pay back half which may be more than they make in a year if we are doing 2k/month payments.
Just tax people based on 2020 income if they make over a certain amount. Stop trying to over complicate it, which usually screws over the poor and helps the rich (hint: they’ll just show less money in 2020 than 2019 and not pay it back!)
Money is not a physical resource you dig out of the ground, it’s a means of exchange. There is an arbitrary amount of it. It only has value because we all agree to act as though it does. And as long as everybody believes the government will be able to collect taxes in the future, there is more, (assuming said nation has its own currency) .
When you give people more money than they’re used to having they’ll naturally use it to buy goods and services, especially with interest rates this low.
There has to be some level of UBI beyond which lies hyper inflation.
This is true to an extent, but I know two people who worked on cruise ships and absolutely, unequivocally loved it. They were both single, in their 20s, loved to travel and couldn’t have afforded to do that much of it otherwise. That’s neither here nor there in the broad discussion, though, and bailing out companies that pay virtually no taxes is hilariously stupid.
I think putting the environmental stuff in there was dumb, because it concedes easy talking points. “Why are the Democrats adding a laundry list of Green New Deal crap to the stimulus?!” The spirit of putting forth something far left to open the negotiations is correct, though.
I also would have preferred the solution mentioned earlier that bailouts come with equity instead of far weaker “no stock buybacks mmmmmkay” provisions.
Well that didn’t take long.
Hahahahaha 12 hours
Insane but unsurprising
What a great compromise. Trump gets to appoint an inspector general to dole out the money rather than just being able to do it directly. Way to go!
Who’s paying $200 for a haircut? I get expensive haircuts and pay $40 and feel kind of bad and bougie for it.
My health insurance is $400/mo, and I have a shitty plan with an $8,300 deductible (it’s a bronze plan from the official healthcare marketplace). If I come down with COVID-19 and need to be hospitalized, I’m out $8K right off the bad.
Better plans are $600-800 a month. I can afford to risk taking an $8K hit to save EV on my purchase others can’t.
So right off the bat we’re at $600-800/mo for most people. I paid $600/mo in NYC in a shitty apartment with two roommates 9 years ago. In major US cities you aren’t finding a one bedroom in a safe area for under $1,000/mo. Utilities run maybe $100-150/mo, cable and Internet $100-150, cell phone maybe $80-100 (I pay my parents cash to stay on their family plan so I don’t know what I’d pay on my own), gas/transportation $150-200.
So if we split all the ranges down the middle you’re at $2215/mo before food. That’s where most in the middle class blow too much money on delivery food, eating out, and pre-made stuff in the grocery store. I think a lot of us spend like $600/mo when we could spend $300. So call it $300, in a time of need when we can’t go out to eat anyway. You’re now at $2,215/mo without having saved/invested anything.
Oh, I forgot a car payment. I’m blessed to not have one, but figure $200/mo for most people. Car insurance is crazy expensive in my state, but I’ll guess $150/mo is near the average nationwide.
Now we’re at $2,565/mo. We didn’t do student loans, debt (or savings of any kind), childcare, health insurance from dependents, etc. Google says $800/mo is average for daycare (I don’t have kids). Are dependents covered on marketplace health insurance plans? I don’t even know. Even still were up to $3,365 for someone with one child. In non-emergency times throw in $500/mo to max out a retirement account, $30/mo for a gym membership, and $100/mo for entertainment (one night out) and we’re at $3,995. I didn’t even include stuff like clothes, haircuts, random household expenses, etc.
So is 4K too much? Yeah I wouldn’t give that much myself because staying at home and eating in reduces many expenses. But $3K is pretty damn reasonable, and an extra 1-2K when we resume normal activities would go a long way to stimulating the economy. In a stay at home crisis we don’t need daycare, but some people are still paying for it under terms of their deal.
You’re obviously an intelligent person and I appreciate that as someone who doesn’t live in the US it’s hard to be right on top of everything related to the day to day experience here, but the out of pocket cost of living here is much higher than you realize.
If you live in a major city, you need to make about $60,000 a year to be comfortable. Most jobs are in/near major cities, and if you live outside the city and commute in you’ll save some but you’ll be trading rent payments for commuter costs, and while you’ll save you’ll also sacrifice 1-2 hours of time daily.
What are these costs like where you live? Are you in a major city? IIRC you’re in Germany, right? A very quick and rudimentary Googling without looking for official sources makes it appear the out of pocket cost of living there may be about 55% of what it is here. If you’re interested we can compare the cost of similar apartments/houses in similar areas, a gallon of gas, a gallon of milk, a loaf of bread, etc.
Last but not least, while people should have better spending and saving habits in the US than 95% do, I’m more interested in starting with corporate America in that regard than the working and middle class…
This had better not be what it looks like. I wasn’t kidding about quitting the party. Enough is enough. The way the Dems have handled this the last two months is just unspeakably terrible.
I’m bald af and I pay 20 bones for a haircut and bitch about it every time
I think he’s retired and kind of old now but that guy who handled the 911 payouts is the only one to be trusted to hand out money
Guys, they’re in on it.
Nah
So the line is we’re just going to pretend it’s not that bad and send everyone back to work in two weeks? That the bailout just needs to help companies make payroll for that time? What happens when every hospital is overflowing with patients and people are being turned away in (checks notes) 3-7 days?
I’m kinda glad trump won now cause that eased me into the idea that most people are exceedingly stupid, especially the ones that have tons of money and are in control. If Hillary had won and now the market was going way up three whole days before the apocalypse, I don’t know if I’d be able to take it.