Stimulus check Check 2 & Second Stimulus Package update July 26: White House Wants $1200 Stimulus Checks
But the first thing that i asked of you guys to do is please hit that like button. If you hit that like button, it will help promote this video out right now, i’m, having some issues with getting my videos promoted, i’ve had a few people come out and say they’re, not getting notifications and things like that. So if you could, please hit that like button, it really helps out. I notice the more likes. My video gets, the more views that the video gets generally. So please do that and if you’re new here please consider subscribing to the channel, so let’s go ahead and get started and listen to this. This interview here, yeah republicans, want to end the 600 per week in additional unemployment. They want to replace it with 70 of previous wages, that loss of income for millions of americans could lead to evictions. It could lead to people not being able to pay for food or medicine or electricity. Are you concerned that changing this uh the way that this unemployment compensation is given that stopping this funding will actually end up, causing further damage to the economy, with people not able to pay their bills with people being evicted? Jake it won’t, stop it won’t! Stop the assistance it’s gon na it’s gon na cap, the assistance at a level that is consistent with people going back to work, that’s what we’ve said from day one first of all, state unemployment benefits stay in place.
Second of all, we will try to cap the uh benefits at about 70 of wages. You know a university of chicago study showed virtually 70 percent 68 of people. Uh actually have higher benefits than wages. We have had a flood of inquiries and phone calls and complaints that small stores and businesses – restaurants, can’t hire people back. They went too far, maybe last march okay. So i want to stop here and just talk a little bit about so they’re talking about this 70 that’s that’s their target uh, the the reason, the reason that they had the 600 in places it was it was. It was easier to do it that way. Now they’re going to have to try to figure out with the 70 percent, okay they’re going to have to go back to the taxes, so that means the irs is going to have to get involved they’re going to have to calculate so this is each individual they’re. Going to have to calculate how much money they made last year, what is 70 they’re gon na have to do all that or they’re going to push that on to all the state’s unemployment offices. To do that, so this is going to take a while. This is not one of those things where you can just say like they did in the past, where they just said: okay, it’s 600. There you go or 400 there you go now, they’re going to be doing a percentage and that’s going to cause some problems.
You also have to think about people, and he mentioned the restaurant industry. A lot of people who work in the restaurant industry are making minimum wage, and so, if you look at just their minimum wage and you don’t look at their tips, then yes they’re getting more on unemployment than they were in their regular job, but they receive tips. So a lot of them are still making more money in their regular job because they get their minimum wage plus they get tips. So you have a lot of industries like that or industries where they have a base, salary, that’s, very, very low, and then they make a commission they’re making most of their money on their commission. So they’re still there’s still an incentive to go back to work because they know that there will be tips there and they’ll be able to make more money than they’re making in unemployment. So that’s, just one of those things too, that you have to think about when, when they’re saying this, all these people are making so much money on unemployment and that’s they’re not going to want to go back to work well, a lot of these people make tips And that’s the reason why they want to go back to work and a lot of them are service industry jobs. So just something else to think about let’s go ahead and continue march. It was necessary for that, but really the consequences of people not returning to work.
Secretary mnuchin said it right: we want to pay folks to go back to work and, incidentally, we are going to have on top of the cap of wages 70, which is quite generous by any standard. On top of that, we will have a re employment bonus and a retention tax credit bonus for going back to work so that’s gon na okay. So you see that larry carlos is still sticking to these back to work, bonus and so they’re they’re trying to come up with something which we haven’t heard anything yet as far as exactly how much that will be, but they’re really working on something to incentivize people. To go back to work now you hear no mention no mention of any type of hazard payer, essential worker pay, so the people that have been working this whole time are not going to get any type of a bonus according to larry kudlow, okay, that that’s not On the table uh for their proposal now understand, this is just a proposal, so they’re going to have to present this to the all the senators. So the democrats as well and the democrats are gon na – have to come up with their what they want. So you still might see a central worker uh bonus, but right now the focus is on bring getting people back to work, and that means that they’re really focusing on getting the bonus for people that go back to work.
But the people are still working. I’Ve been working this whole time according to larry kudlow they’re not going to be getting anything extra more than offset any of this i mean the trick. Here is going back to work. We don’t want people out. We want them in wherever possible. The businesses are calling them back that’s. Why i’m optimistic on the economy so far, i could be wrong. Jake lord knows, but so far so far this uh, you know the iteration here. The dynamics here is very positive. People want to go back to work. The problem is that it’s. In many cases you talk about restaurants, it’s, not safe, for them to go back to work, because the administration and states have not been able to get the virus under control. I mean that’s the reason that’s, the problem, why restaurants can’t hire workers it’s, not because waiters and servers and maitre d’s and bartenders don’t, want to go back to work it’s because either they’re not allowed to open their bars or have a significant seating in their restaurants Or it’s not safe to go there that’s the whole problem, that’s going to be the problem with schools in the fall it’s the problem with people reluctant to get on airplanes. I mean it’s because you were not able to get the virus under control that the economy continues to struggle. That i will say again: the economy is improving by leaps and bounds. I will also say there are more states that are reopening and doing very well.
Okay, so and i’m, just stopping right here, it’s kind of in the middle of what he was saying, but uh jake tapper brings up a really really good point. So if you want to get people to go back to work, you need to create that environment where they feel safe to go back to work. You need to create the environment where the virus is is not on the on the rise, because then businesses will open up and this businesses will be able to open up, because there are a lot of states that are shutting down businesses and not allowing restaurants and Bars to be open and if they are open, they’re only open to 25 percent. And so, if someone goes back to work, they’re not going to be making the same money as they were making before, because it’s only open 25. Not to mention that that restaurant, or that bar can’t, they can’t, hire all their employees back. So in order to get back to where you were get close to, where you were before the virus hit, you have to take care of the virus and so that’s that’s. What jake tapper’s saying here and it’s a good point? I mean we’re talking about giving people bonuses to go back to work, but what, if there’s, no job to go back to now? You’Re in a situation where you have money that’s set aside for people to go back to work, to give them a bonus.
But these jobs are not calling them back to go to work because of the virus. And so you have to address the virus. And it looks like the administration right now is not addressing the virus. They just want to get people to go back to work when a lot of people don’t have jobs to go back to at least not right. Now, once the virus subsides, then maybe we will be in a situation where people can get back into those jobs that they were working before and realistically and and jay powell said this, there are some jobs that are just not going to be there. So they’re not going to even have a job to go back to they’re, going to change their whole dynamic. When it comes to how people work it’s going to change, a lot of people will be working from home we’re going to have machines, doing a lot more work than they did before you go into a supermarket and you’re going to see these. These automatic tellers, where you just go up and you put your information in as opposed to going to an actual teller – i mean you see, we’ll, see banks, banks will change too. Banks are going to probably have a lot more atms now, because a lot of the stuff you can do at an atm. You don’t need to go inside of a of a bank, and so you might start seeing these little pop up atm stations and not not as many banks, and so that means they don’t have to hire as many employees and a lot of people are doing their Stuff, just through the atm so there’s so much that that’s going to change and larry kudlow wants to get people to go back to work but he’s, not addressing the issue.
The issue why people are not working right now is because of the virus it’s not because there’s this uh, all these people that are just receiving so much money that they don’t want to go back to work, no it’s they’re not able to go back to work Or they don’t want to be put in a situation where it’s unsafe to go back to work, so let’s go ahead and continue. There are some key states – yes, california and texas, and florida right now that are having hot spot difficulties but it’s. Nothing like it was last winter, yeah and – and he says california, texas and florida – three of the largest states in the u.s are having issues so that’s going to affect a lot of people. You have 40 million people in california alone, that’s going to affect a lot of people, so just by saying that you know yeah, it’s it’s, just three states right now that are really having difficulties. These are three large states that are having difficulties all right, let’s continue. I don’t agree with your premise that people won’t go back to work. I think safety matters. Let me make that very clear and the four guidelines right uh, the masking and the distancing, particularly okay, you’re right. But i will say this it’s a more optimistic picture than the one you are painting and i think that we’ve made great strides. I mean federal government doesn’t control. This. We are leaders, hopefully in encouraging people to be safe and secure and accept our guidelines.
The states are in charge of this. Each state has a different story. Most of the states are doing rather well in this, so i just i’m, not that pessimistic, maybe i’m too optimistic, i’m happy to report uh ambassador, deborah burks, who was our leader on the health virus, task force, she’s reporting now that these bad hot spot states uh The three or four of them are actually showing early signs of plateauing. Let us hope and pray that that is the case. We are doing everything. We’Ve had we’ve had four days of more than a thousand deaths yeah i mean yesterday the fatality rate. I always hope that i always hope tragedy. Any any death is a tragedy jake. I agree, but it is you see jake tapper, getting really frustrated with that whole thing, but he’s like he’s, saying there’s four, you know they just had. We just had four thousand deaths over the weekend, so that’s, not a good sign like that’s, not that plateau that that that larry kudlow was uh, quoting uh. That expert was saying that they’re they’re at a plateau uh that doesn’t really you know, come out to be a reality. If you look at it, you still have a lot of people dying and so and a lot of what’s happening is we’re, seeing this stuff. So because we’re seeing this stuff that hurts confidence, and so that makes people think okay well, i don’t want to open up my shop or i don’t want to go back to work at this this current time, because things are crazy and i’m, not getting the protections.
Just like mitch, mcconnell was talking about this liability protection. Your way, you waited so long now that you do have businesses that are that that’s in their mind, they’re thinking i don’t want to get sued. So why am i going to open up my business right now? I need to wait for something to come out with this next package that will protect me, because i have no protection right now and so that’s another thing and that’s one of the the the issues that i had uh back two months ago when mitch mcconnell started. Mentioning this liability protection it needs to be in the next package. Well, maybe you should have created a package with just that liability protection long time ago, two months ago, attached it to one of the ppp packages that you pass through in order to allow businesses to to know that they have some type of security, because if a Business looks at this whole situation right now and sees the numbers rising and they might be in a state where they’re able to open up their business they might choose not to because they don’t want to be liable. If someone goes in there and then sues them because right now, there’s nothing in place so that that’s another another gripe that i have when it comes to this. Okay, get people to go back to work and people will go back to work. Well, you need to give them some confidence, you need to give businesses confidence and you need to give the people confidence.
Let’S go ahead and move on all i’ll say is also true that the fatality rate is much slower than it was don’t forget in the package, because thank you because, thank god, doctors and nurses and health professionals yeah the doctors and nurses and health professionals figuring out Good ways to treat the virus a lot of the people who are infected now are younger and so it’s god bless them as high and mortality. Let me just say sir don’t forget what it looks like what the virus looks like. I just want to add jake. I just want to add we’re talking about employment benefits and so forth. Don’T forget there’s, a twelve hundred dollar check coming that is going to be part of the new package. I would have preferred a payroll tax cut on top of that check, but be that as it may, politically it doesn’t work, but the check is there, the re employment bonus. Is there the retention bonus? Is there uh there’ll, be breaks for small tax credits for small businesses and restaurants, that okay, so that that was the end now you saw at the very end there he tried to. It was almost like okay, this is this is something he had to get out there so right before, because jake tapper kind of said, okay, you know we’re we’re out of time and then larry kudlow jumped in there don’t forget there’s, twelve hundred dollars. You know twelve hundred dollar stimulus check that everyone’s gon na get, and then he said it again.
Twelve hundred dollar stimulus check that everyone’s gon na get uh as as a way, and i don’t know it just. This is the way that it came across to me. It’S kind of like okay – here you know, don’t worry, don’t worry we’re, giving you your twelve hundred dollars. You guys should be fine, uh that’s. The way that i kind of saw it maybe i’m being a little too critical of larry kudlow, but it was. It was an interesting kind of uh trade off there where he’s, like you, know, you’re getting your 1200. In addition to all these other things uh, you know so it’s. Just i don’t know it was interesting, but he is mentioning the 1200 and we talked about this. Okay, the the 1200 stimulus check that there was mention of it. Uh steven mnuchin didn’t, actually say twelve hundred dollars uh last week, but he did say that it would be just like the cares act and so the care zach was twelve hundred dollars. So a lot of people assumed it would be twelve hundred dollars, uh larry kudlow’s, saying now that it’s it’s going to be 1200, but you have to understand what role larry kudlow plays in this whole, this whole package, okay, so he is a cheerleader right. He is an aide at the white house and he’s a cheerleader. He has no legislative power and so he’s saying what he wants to happen. He’S saying what the white house wants to happen, but he’s not saying what will actually happen, so he might be saying he might.
The white house might be pushing for twelve hundred dollars to miss check, which is kind of weird, because the president said he wants it to be larger than the democrats. A 1200 stimulus check is not larger than what the democrats were. Asking democrats were asking for a 1200 stimulus check, so they’re asking for the same thing so that that hurts the president’s credibility when the president says it’s going to be generous, it’s going to be larger than what the uh the democrats want. But that’s, you know that’s a side note but understand the white house right now they are not legislators. So all this information that they’re putting out right now is just stuff it’s, their wish list, it’s stuff that they want to have happen. The senators are going to have to decide what happens and we already know there’s there’s conflict among the senators and there’s conflict among the senators and the white house, so we might not see a twelve hundred dollar shipment check. I hope we see at least a twelve hundred dollar shimmer check or something more, but that’s there’s no guarantee with that. So when he’s, when larry kudlow’s putting that out there just understand this is something they want to get across, but that doesn’t necessarily mean that it’s something that’s going to happen. So i want to know what you guys think, though, so in the comment section below. Let me know what you think about this interview.
Let me know if i missed some points. Some key points also i’ll post in the link in the description. So you can watch the full interview, so you can see because they talked about some other stuff too, but i just wanted to talk mainly about the stimulus check stuff. If you guys like this video, please give me a thumbs up. Like i said, the more likes a video gets, the more views the video gets.