Stimulus check ond Stimulus Check Confirmed!
You will be remembered so let’s begin with the stimulus package news, because we are now 18 weeks in a row where more than a million people have claimed unemployment benefits and if you’re, one of the 31.8 million americans who’s receiving that benefit. That 600 weekly is going to go away at the end of this month in july, and the two sides representing the two parties – democrats, nancy pelosi and steve mnuchin, for the republicans – have a disagreement on what to do about this benefit. Should we extend it and let people continue paying their bills on time or should we reduce it or get rid of it entirely and give people an incentive to encourage them to get back to work? Now there’s obviously been a lot of disagreement over that 600 weekly unemployment benefit, because the republicans argued that that was just way too much money, but it was necessary after the pandemic hit because everyone needed that money. So the president and the federal, oh reserve, one works way: better: papa pal’s, federal reserve, printing machine.
He had the odd job of printing, an infinite amount of money, and yes, that was a golden gun reference from double07. So this time around, they want to prevent that situation from happening again, and the idea is to implement a system that’s going to pay us 70 of our incomes instead of over a hundred percent. But there’s a few problems with this and the first is that it’s not 100 clear yet as to how the government will independently cater to each individual person, because they just don’t have those kind of resources.
But taking that 70 figure that the republicans are talking about, then that means the average weekly benefit will be as low as 100 a week to as high as 300 a week. Of course, the democrats would rather extend or phase out that 600 weekly limit, but if it doesn’t it’s not a deal breaker for them, so more than likely we’ll see both the senate and the house come together to some sort of an agreement this week. Finally, we’re gon na get a compromise and i think the average will be probably somewhere between two to three hundred dollars, which is still not quite six hundred dollars, but it’s better than nothing. The good news is that the stimulus checks have finally and officially been confirmed and we’re. Finally, getting the sequel that we’ve always wanted. Nobody right now knows what the final amount will be once it’s negotiated on this week, but more than likely expect the same twelve hundred dollars to hit your bank accounts or to be sent the checks and i’m just happy that the senate has finally agreed to a Second round it took long enough, but now that the senate has proposed its plan, the house will debate exactly what they like and what they don’t like on tuesday, the 28th of this week so that’s literally tomorrow.
So hopefully they can come to some decision. In some agreement before august 7th, because if not it’s peanut butter, jelly time, that means they’re going to go on recess for a month, which is insane that that’s even an option.
I suppose, when you’re a senator making 150 to 200k a year, you can wait a month or two. Unfortunately, most u.s households cannot because they don’t make 200k a year. Instead, they make anywhere between 40 to 50k a year. So maybe let’s come to a consensus and let’s get it done, but once they do, if president donald trump can sign that bill by august 10th, then the checks will be sent out the week of august 24th and it can be done even sooner. If the payment is about the same and they can use the same process with the irs get my payment tool, which we all know, love and use, and rage quit over it’s, not the best implementation, but at least it works to some degree. In addition to direct payments and the unemployment benefits there’s a few other things that republicans want to give to the democrats, which i’m sure the democrats will devour right away and one of those things is giving 105 billion dollars to the school systems to actually reopen. But the catch is they can’t pay themselves and they can’t just pay their lawsuits. They actually have to reopen and that’s what it’s dependent on which i think is a very good idea.
They’Ll also provide targeted money for the ppp or the paycheck protection program, which remember, is a program that gives small businesses money that they theoretically don’t, have to pay back if they could use it within a certain number of criteria like actually paying their employees to keep Them working and the republicans want to do this for all small businesses that have had the revenues cut 50 or more now.
Hopefully, this means that billionaires like kanye west and his brand won’t get another yeezy two million dollars from the program and not to mention authors like robert kiyosaki, the guy who wrote rich dad poor dad who got anywhere between 300 grand to a million dollars to pay For his 11 employees, which doesn’t sound that bad were it not for the fact that he called the paycheck protection program, socialism for the rich, hey, i didn’t say socialism was bad. I just think it’s bad when i can’t profit from it. Oh my god. I hope they don’t sue me for telling you that republicans also want to give incentives to both the companies and the individuals to come back to work and i’m, not sure how one payment of a couple hundred extra dollars is gon na incentivize people when they can Make over a thousand dollars to stay at home, but on top of that, republicans also want to include 16 billion dollars for testing, which i think is just rookie numbers. We got ta pump.
Those numbers way way up tootski, but overall, the senate wants to spend no more than a trillion dollars. Meanwhile, the house wants to spend yes, they just want to spend anywhere between two to three trillion dollars. Unfortunately, we’re gon na reduce people’s incomes. At a time when there are still over a million people a week claiming unemployment benefits when the pandemic is getting worse, people are getting more sick.
More and more people are ending up in hospitals. The data is there. You can literally check for yourself at marketplace.org, but opinions aside regarding what you believe about the unemployment benefits, whether it’s too much or too little there’s some interesting data that just recently came out because in the months of may and june, 70 of the people that returned Back to work, we’re getting paid more, not working and just staying at home, and they still return to work. So the argument that people just want to stay at home and do nothing is not supported by the data that we’re seeing so the senate’s fear that people are just going to be lazy and do nothing isn’t exactly what we’re seeing the reason people are not staying At home, even though they’re earning more money is because, ultimately, people just want their jobs back, no one wants to stay at home and do nothing at least most people don’t, because the rationale is i’d, rather go back to work today and make a little bit less Money, rather than wait at home until my benefits expire and then when i do go back to work, realize that someone replaced my job and i no longer have one.
People are realizing that staying at home is actually the bigger risk, and i know it seems like the right course of action is to preserve the balance sheet and to encourage people to get back to work. Cutting people’s incomes right now is not going to save the government that much money and it’s about to have a terrible effect on the economy and that’s, because when the bills are due and people can’t pay, when people start losing homes and they have nowhere to go.
That’S, when things get really bad and that’s actually happening right now, because just this saturday, the freeze on being evicted for not being able to pay your rent is over and those people are no longer protected. 110 million americans are actually renters and i’m one of them, but now 20 of those people are at risk for being evicted, and when this happens, there will be a huge surge of people losing homes come august. If renters can’t pay all the payments that they missed and if they can’t catch up that’s, when landlords can begin the official eviction process and they first have to legally give a 30 days notice. If, at that point, the renter does not move that’s when they can begin to file an official complaint with the courts, which would be at the end of august or early september, so people have potentially until then to make enough money to maybe catch up. But if you can’t and if you’re one of the people who might potentially be in trouble, please go to www.
don’tgetkickdown.com that’s, literally the name of the website that i found, while watching one of hassan minaj’s specials on netflix it’s a phenomenal resource, and you should know your Rights and the other resource that you should use when it comes to the economy and the numbers and the pandemic is marketplace.org. Please use both of those resources. They’Re amazing. Another potential issue is with the unemployment benefits and that’s, because the republicans want that 70 hyper specific criteria which is going to be very difficult to implement, efficiently and that’s, because the government does not have enough resources nor the manpower to look at your and i’s income Manually and determine exactly how much we should be getting, nor are they capable of building a website that actually works, and does it automatically because it’s the government and nothing ever works that’s, because everyone knows when you owe money to the irs you’re going to jail yesterday.
But if they owe you money, then well, you might get it tomorrow next year, maybe there’s still some people who have not got their first stimulus checks. So, instead, what this means for you – and i is that they’ll – have to settle on a number that’s flat, based probably on the u.s average income, rather than cater to our incomes independently and that’s. Where i get the two to three hundred dollars a week from and i’ll be very surprised if it’s anything other than that, so the theme here is still very much in line with 2020.
. We got problems on problems on problems and problems, but it doesn’t have to be depressing because misery loves company. So you can join my discord and we can both be miserable together, just kidding, but that discord channel is probably the most human contact i’ve had since the beginning of this pandemic, but it doesn’t all have to be sad because you can get three free stocks. Two from weeble one for signing up, but if you fund your account one hundred dollars, you get another free stock, valued up to one thousand four hundred dollars in value. You can get a third free stock from robin hood and maybe, if you’re lucky, you could sell those stocks and maybe pay for rent either way, that’s three free stocks. You can also follow me on instagram. I post there from time to time so not to finish on the pressing note or anything like that.
But can you believe everything that’s happened in 2020 already, i feel betrayed. I sat in 2019 counting down to 2020 saying happy new year. Little did i know i was tipping somebody and they were spitting in my face. It’S frustrating, but i know we’ll get through this and what’s really helping me. A lot is just going to the gym and taking care of myself, so i hope you’re staying with it – and i know this will all be over soon and we can be social again and socialize with other humans enjoy the rest of your week.