Neverending Covid-19 Coronavirus

RenegadeMonster said:
A draft bill by McConnell would give $1200 a person to those making less than $75,000 and then scales down to nothing for those making $99,000 or more a year.
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Once, twice, monthly?

that’s nice, but not enough money for people to live off of for however long this goes on for. Would there be extensions if we’re hunkered down for several months? Everyone would have to go on food stamps too
 
wokeupnew said:
Once, twice, monthly?

that’s nice, but not enough money for people to live off of for however long this goes on for. Would there be extensions if we’re hunkered down for several months? Everyone would have to go on food stamps too
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At least the requirement to having to be working to get food stamps that was set to go into effect April 1st has been shot down. That's a bonus for us right?

Homeowners in NY should be good for the next 3 months at least. Mortgage payments have been suspended for 90 days. They are not exempting them, but rather deferring the 3 extra payments to the back end of the mortgage.

I still don't understand why they are doing nothing for renters. Renters are much more likely to need that break than homeowners.

Sure the Trump administration issued guidance to suspend evictions through the end of April. But what happens at the end of April? They will want their money or they will kick you to the curb.
 
wokeupnew said:
Once, twice, monthly?

that’s nice, but not enough money for people to live off of for however long this goes on for. Would there be extensions if we’re hunkered down for several months? Everyone would have to go on food stamps too
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My hope is the $1,200 is the republican floor and the House bill will have a much higher ceiling and when they bring the bills together it will have to be higher, Dems aren’t gonna just roll over again like they did on the first bill. Regardless they need to get moving quick. The first of the month will be here real quick.
 
TenderLovingKiller® said:
My hope is the $1,200 is the republican floor and the House bill will have a much higher ceiling and when they bring the bills together it will have to be higher, Dems aren’t gonna just roll over again like they did on the first bill. Regardless they need to get moving quick. The first of the month will be here real quick.
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My hopes of that being the case were just shattered. See my last post. They are not giving us money. This is an advance on our 2020 tax return. So as we cycle through the tax year the net amount the government is actually giving away is $0.

If you got less than $1200 back for the 2019 year you can be sure this tax advance means you will actually owe taxes next year when your file your 2020 taxes.

Sure they might increase the amount, but I don't think the republicans would actually agree to anything that could be considered a handout.
 
Just saw this posted from someone who lives and the San Fan Bay Area which is currently under the shelter in place order. This email came from the property management company who manages the apartment they stay at.

Good Afternoon,

We understand the growing concern surrounding coronavirus and the impact it is having on our community. The health and well-being of you, your family, are important to us. We understand the in Shelter In Place Order has affected everyone with school closures and working from home.

To this end, the rent is still due on the first of the month and every month thereafter. If your employer has severed your working relationship; then you should be filing for unemployment to receive the necessary assistance.

Stay Safe, Stay Healthy, and Continue Social Distancing,
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RenegadeMonster said:
My hopes of that being the case were just shattered. See my last post. They are not giving us money. This is an advance on our 2020 tax return. So as we cycle through the tax year the net amount the government is actually giving away is $0.

If you got less than $1200 back for the 2019 year you can be sure this tax advance means you will actually owe taxes next year when your file your 2020 taxes.

Sure they might increase the amount, but I don't think the republicans would actually agree to anything that could be considered a handout.
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I am skeptical of this, regardless of what the bill says (I am not going to read it) I have not seen it suggested by anyone that I trust as a source (Washington Post, New York Times, Etc...) suggesting that this would be any sort of loan against your future taxes. I have seen they are using your 2018 returns to determine how much each person will receive. Also, as with most bills, lots of stuff will be modified and rewritten when the bills go to conference. The Republicans will likely try to get at least some Senate Dems on board via amendments, then whatever is voted through will need to be merged with what will likely be a more thoughtful bill by the House. Whatever is in the Republicans initial bill is all a well and good but it is all just a starting point. Let’s see what the final bill looks like before we get too anxious.
 
TenderLovingKiller® said:
I am skeptical of this, regardless of what the bill says (I am not going to read it) I have not seen it suggested by anyone that I trust as a source (Washington Post, New York Times, Etc...) suggesting that this would be any sort of loan against your future taxes. I have seen they are using your 2018 returns to determine how much each person will receive. Also, as with most bills, lots of stuff will be modified and rewritten when the bills go to conference. The Republicans will likely try to get at least some Senate Dems on board via amendments, then whatever is voted through will need to be merged with what will likely be a more thoughtful bill by the House. Whatever is in the Republicans initial bill is all a well and good but it is all just a starting point. Let’s see what the final bill looks like before we get too anxious.
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I'm sure we will be hearing more about it tomorrow. The full text of the bill has only been released this evening.
 
Going back to rent being due the first of the mont still and every month thereafter from that post I made a few post back.

Doing the math, where as in California the maximum check you can get each week on unemployment is $450. Keep in mind that is before taxes. You can choose to have them take the taxes out or defer the taxes to be paid when you file your 2020 tax return. Either way, if you qualify for the maximum check size each week for unemployment benefits is not enough to cover rent.

San Francisco is a high rent area, and under this shelter in place order. The average rent per bed was $3783 in January of 2020


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How many people have been laid off? How many people have been furloughed or took a pay cut because of this shelter in place order?

If rent is still due no matter what on the first of every month what is going to happen to those who can't make rent? I bet easily a 1/4 of people living in the bay area are not earning money at this time.


Rent is high in the Boston area too. High enough where the maximum unemployment amount will not cover rent.

Luckily my job allows me to work from home. I, like more than half of Americans do not have 6 months salary on hand in case of emergencies. If I got laid off and had to collect unemployment I would be fucked.
 
The 2018 tax requirements of the bill means that many kids who were in college in 2018 but part of the working force now will not qualify for these checks if they weren't working while in school.

These are people who likely need the checks the most because they are working entry level jobs and have not built up savings yet.

Many may think well, most college students have a job.

That's actually not true.

In fact, it's been reported that about 70 to 80 percent of college students are active in the labor market while enrolled in college. While some students work part-time jobs during college, many take on a larger workload. In fact, about 40 percent of undergraduates work at least 30 hours a week.
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Also, with 2018 being their senior year, odds are that job they were working could have also been an unpaid internship.
 
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