Stimulus check 4th Update on NEW Stimulus Plan | $1200 Stimulus Check Package
This is ridiculous. It is late friday, so let’s go ahead and give you the late friday stimulus update. So i can catch you up on everything that happened in the last part of today on capitol hill. I also have some tea to spill, but quick note. Some of you have been. I can’t believe i just said that some of you have been asking me if you could use the same coupon code for the real estate investing code as the youtube course. Yes, you can. However, if you grab the making money from home youtube program, you’ll get a bundle deal at checkout for the investing group. If you want it anyway, here we go bernie sanders he’s. The t bernie sanders just tweeted a couple of minutes before me filming this video to elon musk quote elon musk. What a hypocrite elon musk has received billions in corporate welfare from the united states taxpayers. Now he wants to stop 30 million americans who lost jobs from receiving 600 a week in unemployment benefits, while his wealth has gone up by 46.7 billion over the past four months. Pathetic that was bernie. Okay bernie is like feel the burn man. He just went off on elon and elon actually said that he is for universal basic income, which is something that bernie is for. But this is what bernie was upset by elon musk said quote: another government stimulus package is not in the best interests of the people.
In my opinion, instead elon went on to suggest quote would have been better to just send everyone. Six thousand dollars might not be a terrible idea, actually uh, and then he says, because quote these bills are jammed to the gills with special interest earmarks. If we do a stimulus at all, it should be direct payments to the consumers. So i don’t know if bernie missed all of the other stuff that uh elon mentioned but uh. I can’t really blame elon there because it’s true remember. We mentioned this a few weeks ago: it’s, not the politicians who write the bills anymore, it’s, the politicians who get taken out for a nice lunch and some sliced up burgers. Maybe they even get the burgers cut for them, and maybe they get spoon fed here you go mitch have a bite of the burger there. You go isn’t it nice to piecemeal things, hey how about. We write three different bills for you and you could pass one on july 31st and one on august 4th and one on august. 7Th we’ll write it for you, so don’t worry about it and when these special interests do that, which is what elon musk’s elon musk is referring to here, they’re able to put in what’s known as pork or fat they put in special interest provisions that give tax Breaks and loopholes to their favorite businesses right that’s, why? The government has had such a shady and crappy reputation and it’s, really sad, because uh it’s, really the politicians who allow this to happen.
Uh because of the way the political systems are set up and it’s. Very sad and to me it makes sense why elon musk is frustrated. So here you have somebody who’s really frustrated with just the government process, but is for stimulus. Checks uh but bernie is, is upset by elon, saying no more stimulus package drama but anyway now let’s keep this part short and sweet uh think by the way, flip side for this flip side this morning left a comment asking me to talk about the stimulus checks. Early on so here you go. The next round of 1200 stimulus checks, here’s what we know about this. We know that it’s very it’s, almost certain that we’re going to see the next round of 1200 stimulus checks. However, they might be delayed that’s, because the little slices of hamburger me i’ve been talking about here like dividing this, build a stimulus package into multiple pieces. Well, that idea is coming from the white house and some republicans they’re suggesting let’s just divide it into pieces. Let’S do one bill that handles unemployment, liability and credits for schools, let’s get that done by the 31st and then let’s. Try to do another piece by august 7th. The stimulus checks would probably not make it in the first batch and there are a lot of people in congress who are like. No, no, no do not divide this up. Nancy pelosi, doesn’t want it divided, chuck schumer thinks it’s ridiculous.
He’S a democrat in the senate side: we’ve got a lot of madness going on, but the point is it’s very possible that if we do get a partial bill that gets passed for unemployment, liability, protections and schools now the pressure is off for republicans to do anything. It’S quite possible that they could go on their august recess without stimulus checks coming out so right now, we’re confident that 1200 checks are coming at some point, but we’re not very confident if they’re going to make it by august 7th, though we definitely hope that is What happens again, leaders on both sides do not want to do multiple bills, they’d honestly, probably rather shove. Another 1800 page bill down our throat because let’s be real. The special interests can hide everything they want in that, and nobody notices until weeks later. Sad if the 1200 stimulus checks pass around august, 7th uh somewhere on august 7th, you know right before the recess. Then we could potentially see these checks by the third or fourth week of august, especially if you signed up for direct deposit. The odds are the same: people who got the direct deposit last time would get the new direct deposit. So all these rumors about forty thousand dollars, which came from congress and mitch mcconnell, have sort of faded away that’s good. We haven’t heard anything about the payroll tax. Today, that’s faded away, that’s fine too, but right now nobody has an answer as to whether or not adult dependents are going to get stimulus money.
We do not know if anyone over 17 years old who’s claimed as a dependent will qualify for stimulus money that has not been clarified yet. We also don’t know if dependents under 17 years old would get 1200 or 500. We know democrats want 1200, but we’ve heard nothing from republicans other than it’d probably be the same as the cares act, but probably be the same as the cares act which would be 500. Doesn’T honestly tell us much quite frankly, it’s just frustrating because it’s very clear that the republicans have just been gallivanting around on their playground of recess procrastinating, their homework and now their first week back to school. I mean back to congress, they’re literally like oh. How do you do algebra again, they literally came with zero preparation. The reading they were supposed to do while they were on break they didn’t. Do the planning the team huddle, nothing happened and it’s very frustrating. It honestly feels like we just have a random assortment of a hundred senators picked by 50, totally random team captains and actually that’s exactly what it is right. We have 100 senators picked by 50 states and ordinarily, you would have a leader in charge and in this case we got mitch mcconnell mitch. Yes, mr mitch, mcconnell mentioned at the end of the day here on friday in the washington post. That quote. Hopefully we can come together behind some package. We can agree on in the next few weeks.
All i could say is, i hope, by next few weeks he means two weeks because we only have two weeks left before august 7th and that recess starts. There’S also been a lot of talk about potentially reducing the unemployment boost to between a hundred to two hundred dollars. Right now, the quote default position of republicans is a 200 per week extension. We did hear scary news. It might go down to as low as 100, but right now the default is 200. This does still have to be negotiated by democrats, though so hopefully that gets bumped up as a property manager. I certainly hope so now in fairness to everybody struggling in those on unemployment. I think the boost should absolutely be larger than this, and it would definitely help tenants as well, which speaking of tenants i did post another market update. Of course, youtube didn’t send a notification again, but if you want a market update on real estate and stocks, i will link that up here. In the meantime, i implore you to please take advantage of some of the options you have available right now. I know this doesn’t sound so great, but remember you can dial this number one, eight, seven, seven five four 7905 and you could get options for things that might be available for you to help you if you are in need. You could also dial 2 1 1, but that doesn’t work in every locale, so 2, 1, 1 or 1.
800. I’M. Sorry, not one. Eight hundred it’s one eight seven, seven, five, four one: seventy nine o five find out what’s available it’s, not degrading to apply for food stamps or the snap program, even though the name sometimes signals that it’s also not degrading to apply for unemployment and get your retroactive Pay remember: 40 of people are still waiting for the retroactive pay. They are working through that they are processing it and the money is there. You just have to make sure you get in line, even though the weight might feel unbearable. Also get your mortgage forbearance. Get your car for rents get your credit card forbearance, take advantage of the options you have now. If you need to borrow from your 401k, if you have one remember, you can borrow up to a hundred thousand dollars now penalty, free against it for the next three years, just to help uh get you through this time, this next period of time as a cushion As long as you repay that in the next three years you don’t pay any taxes or penalties, obviously always check with your own personal account, because they know your tax situation the best in the meantime. Thank you so much for watching.