Senate and WH Agree on Terms of Stimulus Package

[Hards Alumni]

I don’t know how big of a lump sump you think would have been given to people. But if they didn’t fund airlines and others, they would have had no job for the last 3-6 months. It’s terrible that layoffs will still come in many sectors and, like Fluffy said, this has gone longer than anticipated, but pure finances say you’re better off keeping your job and your benefits than a handout.

My sister worked for a performing arts management company that didn’t get PPP funds cause it wouldn’t have mattered. There was literally zero money coming in at that time or into the future. But she was kept employed until June 1. So she still got the best of the unemployment benefits but unequivocally stated she’d rather have been employed longer for myriad reasons, beyond simple dollars deposited in her bank account.

Now I don’t believe the unemployment benefits and supplements should be stopped, but at the time, it’s always better to keep jobs intact and companies alive. $2500 a month from a paycheck with your insurance, benefits, 401K contribution, etc... is not like for like with a $2500 check from the government

For me, the amount of money available should be heavily dependent upon whether or not covid significantly impatcted your business.  Some companies have made a bunch of money, and some have been devastated.  Saying corporations shouldn't get any help is very short sighted, but I see why people tend to rally around corporations as bad guys... more than a few of them are bad actors.

What should probably come out of all of this is some sort of UBI and universal health care.  Stability in life is important.

[mu_hilltopper]

I don't like the idea of another direct stimulus check.

I love the idea of extending the additional $600 benefit through the end of the year.  Even if it does "incentivize people not to work," it will help the people who need it most.

We agree, Fluffy BM.   The first stim check should have been delayed until now.  I could see another one in 2021.

Agreed with the unemp benefit, although I think I'd lower it from $600 to $300-400 and stretch it 2x as long.

And change some rules, to wit:

Half our staff was put on 32 hours a week -- which gave them the $600 bonus.  They were literally doubling their incomes, which was overkill.

Additionally .. anecdotally .. I was told of non-working folk, like college students, who applied for unemployment and were approved for a large abundance of beer money. -- Not to say that's not a nice thing to do, but the point was to help those who actually had lost income.

[MU Fan in Connecticut]

We agree, Fluffy BM.   The first stim check should have been delayed until now.  I could see another one in 2021.

Agreed with the unemp benefit, although I think I'd lower it from $600 to $300-400 and stretch it 2x as long.

And change some rules, to wit:

Half our staff was put on 32 hours a week -- which gave them the $600 bonus.  They were literally doubling their incomes, which was overkill.

Additionally .. anecdotally .. I was told of non-working folk, like college students, who applied for unemployment and were approved for a large abundance of beer money. -- Not to say that's not a nice thing to do, but the point was to help those who actually had lost income.

Instead of a $300 or $400 or $600 unemployment bonus, wouldn't a percentage bonus of the income be better, but capped based on the original income?

[Skatastrophy]

We agree, Fluffy BM.   The first stim check should have been delayed until now.  I could see another one in 2021.

The first stimulus check should have been $6k, with enough food to last a month. Then everyone nationwide is required to stay home for that month.

The lack of national response is turning this from an economic blip on the radar like Europe, into a sustained national disaster.

[MarquetteDano]

Instead of a $300 or $400 or $600 unemployment bonus, wouldn't a percentage bonus of the income be better, but capped based on the original income?

Yes it would be better.  But senators in the poorer states will not go for it.

[Hards Alumni]

The first stimulus check should have been $6k, with enough food to last a month. Then everyone nationwide is required to stay home for that month.

The lack of national response is turning this from an economic blip on the radar like Europe, into a sustained national disaster.

Yeah, well that's what happens when you have petulant children running a society of petulant children.

And I absolutely agree with you.  Should have been a hard lock down for a month... But, I've only been saying that since late March.

[shoothoops]

There seems to be far too many people out of touch with a few things. Federal Minimum Wage hasn't changed in 12 years. When I think of stimulus this is the type kf thing thay comes to mind initially before anything and anyone else.

The Economy is not the stock market.

[Uncle Rico]

There seems to be far too many people out of touch with a few things. Federal Minimum Wage hasn't changed in 12 years. When I think of stimulus this is the type kf thing thay comes to mind initially before anything and anyone else.

The Economy is not the stock market.

Too many equate the economy with the stock market.  They don’t understand the real economy until it collapses and the market goes with it.  You’d think we’d have learned by now but alas

[jesmu84]

https://nymag.com/intelligencer/2020/09/pentagon-used-most-of-its-pandemic-cash-on-jet-parts-report.html

From the taxpayers to defense contractors

[jesmu84]

https://www.nbcnews.com/business/business-news/judge-orders-trump-administration-reveal-ppp-loan-data-it-sought-n1246792

About time. The taxpayers paid for this. They deserve to know where the money went.