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BigRedBuster

Covid-19 Legislation

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6 minutes ago, QMany said:

I am critical of the Dems including any unrelated measures, like climate change, in this bill.

I do think it needs to include voting procedures since experts have forecasted effects through November.

 

Giving Mnuchin free reign over $500B is a nonstarter. And why would it include a 6-month disclosure exemption?

F THAT NOISE.

it's the fox wanting the keys to the hen house

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https://www.yahoo.com/finance/news/pelosi-2-5-trillion-virus-005743928.html

 

From reading this article under the dems proposed bill in some instances if you received a payout you'd have to pay it back over 3 years. I'd just assume to decline the money myself rather than go into debt further than I already am. I'm not looking for a handout and I know some folks could benefit from this, but I'm not sure I agree with that part. 

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Does an arts theater really need 35 mil right now?  Is that really a thing?

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3 minutes ago, BIGREDIOWAN said:

https://www.yahoo.com/finance/news/pelosi-2-5-trillion-virus-005743928.html

 

From reading this article under the dems proposed bill in some instances if you received a payout you'd have to pay it back over 3 years. I'd just assume to decline the money myself rather than go into debt further than I already am. I'm not looking for a handout and I know some folks could benefit from this, but I'm not sure I agree with that part. 

 

Not everyone, just people with incomes over a certain limit:

 

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But households with 2020 income over $150,000 for a joint filer, $112,500 for a head of household filer, and $75,000 for a single filer will be required to pay back part or all of the assistance payment over three years. For these households, the payment is a zero-interest loan.

 

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6 minutes ago, Redux said:

Does an arts theater really need 35 mil right now?  Is that really a thing?

 

My guess is this has to do with Inhofe's request for funding for the Kennedy Center, which died in the House in 2016. Pelosi probably negotiated this money in exchange for Inhofe's vote.

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25 minutes ago, BigRedBuster said:

 

 

But...Trump will be the oversight.  What could go wrong?

Trump has oversight all the time.

 

Definition:

1. "an unintentional failure to notice or do something."

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11 minutes ago, BIGREDIOWAN said:

https://www.yahoo.com/finance/news/pelosi-2-5-trillion-virus-005743928.html

 

From reading this article under the dems proposed bill in some instances if you received a payout you'd have to pay it back over 3 years. I'd just assume to decline the money myself rather than go into debt further than I already am. I'm not looking for a handout and I know some folks could benefit from this, but I'm not sure I agree with that part. 

 

I don't like this part.

 

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The House bill would require corporations receiving any federal assistance to restrict executive pay, ban so-called golden parachute payments for departing executives, halt stock buybacks and dividend payments, pay a $15 minimum wage, and maintain their workforce and any labor union agreements.

 

A small company in the middle of Nebraska might be paying, say $11 per hour.  Maybe with their market and what they do they can't pay more.  The cost of living in their small town would be so that the $11 per hour is actually better than $15 per hour in LA or Dallas.  Why should they be required to pay $15 per hour?

 

This is an example of the Dems trying to push something through that they couldn't normally.

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8 minutes ago, knapplc said:

 

Not everyone, just people with incomes over a certain limit:

 

 

That's why I said in "some instances" and lets look at that further. Just because someone filed their taxes for 2019 and their income is say $160,000 a year jointly, this doesn't mean that their situation isn't effected by this virus on some level. Let's say one of those folks lost their job just recently due to this situation now it's REALLY effecting their household. They essentially fall through the cracks on some level and are now required to pay back a "loan" to the government over 3 years when their situation isn't the same anymore from 2019. 

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2 minutes ago, BIGREDIOWAN said:

That's why I said in "some instances" and lets look at that further. Just because someone filed their taxes for 2019 and their income is say $160,000 a year jointly, this doesn't mean that their situation isn't effected by this virus on some level. Let's say one of those folks lost their job just recently due to this situation now it's REALLY effecting their household. They essentially fall through the cracks on some level and are now required to pay back a "loan" to the government over 3 years when their situation isn't the same anymore from 2019. 

 

A) they need to not use the 2019 income level.  They need to use 2020 or 2021.

 

B)  My fear is this is going to be something where they come out and say, you need to decide by April 1st if you are going to take the money.  That shouldn't be the case.  Everyone should have a window of over the next 12 months if they need the money or not.  If they do, they go on line, fill out a form and they have the money.  Then, if their income on the next tax return is over $150,000, they start paying back the money.

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Yeah, BRB has it right. This should be for income year 2020 and if it needs to continue, 2021. If you made the limits in those calendar years, you should pay it back as a non interest loan from the government.

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1 hour ago, BigRedBuster said:

Did you mean for this to be in this thread?

Opps wrong thread. Didn't mean to derail.

:backtotopic

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2 minutes ago, QMany said:

 

 

Soo....let me get this straight.  There are 1.7 million corporations in the US.  A loan program for each one of them is going to have to go through a congressional panel and an inspector general approval.

 

NOT!!!

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13 minutes ago, BIGREDIOWAN said:

That's why I said in "some instances" and lets look at that further. Just because someone filed their taxes for 2019 and their income is say $160,000 a year jointly, this doesn't mean that their situation isn't effected by this virus on some level. Let's say one of those folks lost their job just recently due to this situation now it's REALLY effecting their household. They essentially fall through the cracks on some level and are now required to pay back a "loan" to the government over 3 years when their situation isn't the same anymore from 2019. 

 

Yeah, this is a good point. It's one of the reasons why I'm hesitant to take any money from the feds. I mean... on the one hand, you want to give me $1,000? Who doesn't want $1,000? But if there are strings attached, I've got concerns.

 

 

11 minutes ago, BigRedBuster said:

 

A) they need to not use the 2019 income level.  They need to use 2020 or 2021.

 

B)  My fear is this is going to be something where they come out and say, you need to decide by April 1st if you are going to take the money.  That shouldn't be the case.  Everyone should have a window of over the next 12 months if they need the money or not.  If they do, they go on line, fill out a form and they have the money.  Then, if their income on the next tax return is over $150,000, they start paying back the money.

 

This is a good idea.

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3 minutes ago, BigRedBuster said:

 

Soo....let me get this straight.  There are 1.7 million corporations in the US.  A loan program for each one of them is going to have to go through a congressional panel and an inspector general approval.

 

NOT!!!

 

I don't think that's what it's saying. I gather this means that there will be oversight into how they spend this money, and I'm guessing this has a LOT to do with forcing businesses to provide benefits to workers and not just buying back their stocks or increasing executive pay, which we've seen a lot of since the 2009 bailout.

 

I don't think anyone wants corporate America to fail. I also don't think anyone wants taxpayers to continue to write checks to these corporations who can't seem to survive on their own.  That's welfare, and we are pretty much all cautious of that program.

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