Stimulus check

[davek42]

Let me get this straight. We had the following:
CARES Act in March 2020, $2.2 trillion
COVID Stimulus in Dec 2020, $900 billion
Biden COVID bill in Feb 2021, $1.9 trillion

We're sitting at $5 trillion now, with plans for another bill already being floated. To put into perspective, our entire US budget for FY20 was $4.79 trillion.
$13,513.51 per person and we're not done yet.

And I'm still at "Payment Status #2 - Not Available"

I agree and In the same boat

 

[rangerod]

It's surprising to me to see such companies as JPMorgan Chase, Bank of America and many other companies raising their minimum wage to $15 dollars an hour considering all of the talk about how bad it would be for the economy. A study done by UC Berkeley in 2019 found no negative outcomes from increasing the minimum wage. Before any talk of these companies being in the financial sector as an excuse such as competitive wages, how about Ben & Jerry's or Costco. It never ceases to amaze me how people in our country are willing to believe in fairy tales. Very few really understand how economics actually works. I have a friend in the banking industry and even he can't get it. None the less I respect others opinions and if this discussion continues in hope it will remain civil.

 

[rangerod]

Prices go up across the board to pay the new wage.

Businesses do not pay wages or Taxes, their customer do........... ALL costs of doing business (Wages Taxes etc) are averaged into the cost of the goods or services sold.

The poverty level is reflected by the Cost of living. Raise Minimum wage and the cost of living increases across the board.. And along with it the poverty level also rises to meet it.. Not only have those earning minimum wage accomplished nothing, as they are still living at or below the level of poverty, but the rest of us are now forced to live closer to the poverty line than we had been before.

Want a raise?? Earn it.. Go to school, learn a skill that is in demand.... It doesn't have to be a college, it can be a trade school... There are a "LOT" of well paying jobs that do not require college degrees.

Customers pay wages and taxes? Of course not. Wages and taxes are paid from what would otherwise be profit. Like I said few really understand how economics works.

 

[LanceS4803]

How many people really make Federal minimum wage, $7.25 an hour? And for how long?
Even our local Wal-Marts starts their workers at $11.50 an hour. And that is for my neighbor's kid who retrieves carts from the parking lot. He got his first raise in 3 months.

 

[Bushfire]

I won't weigh into this other than saying Australia has a high minimum wage (~$20) and we have very little poverty and low unemployment. There is a high cost of living but unskilled workers can still make a living without looking down the barrel of eviction or what have you.

A good healthcare system is also part of it, contrary to what is said ours isn't "free". We pay through tax but the benefit is anyone can see a GP or have a surgery done without having a squillion dollars. I had to have an MRI on my head last year to make sure nothing bad was going on and the cost was subsidised so I paid around 40% of the actual cost. I have a decent job so it's no issue for me but a minimum wage worker can also get it without having to go without.

 

[rangerod]

Let's try it this way. How about the famous widget. If your business is making widgets and pricing them at $20 in the marketplace then the marketplace either allows for that or it doesn't. It wouldn't matter if you paid your labor minimum wage or $50 an hour. Same with taxes. Taxes and labor costs do not determine pricing the marketplace does. You should consider the whole equation not just half of it and here's why. If wages go up the added cost to a business is more than offset by the wage increase in the first place. Customers with more money to spend and more customers overall. Businesses wouldn't need to raise prices because Of higher labor costs because it would be offset by greater sales volume. Does this not make sense?

 

[rangerod]

How many people really make Federal minimum wage, $7.25 an hour? And for how long?
Even our local Wal-Marts starts their workers at $11.50 an hour. And that is for my neighbor's kid who retrieves carts from the parking lot. He got his first raise in 3 months.

Good post. I would just add that it would help a lot of people already above the $7.25 minimum.

 

[rangerod]

Let me get this straight. We had the following:
CARES Act in March 2020, $2.2 trillion
COVID Stimulus in Dec 2020, $900 billion
Biden COVID bill in Feb 2021, $1.9 trillion

We're sitting at $5 trillion now, with plans for another bill already being floated. To put into perspective, our entire US budget for FY20 was $4.79 trillion.
$13,513.51 per person and we're not done yet.

And I'm still at "Payment Status #2 - Not Available"

I certainly understand your concern. It's kinda scary. A little perspective though is to wonder what would happen without the stimulus spending. Just something to consider.

 

[enviroman22]

I certainly understand your concern. It's kinda scary. A little perspective though is to wonder what would happen without the stimulus spending. Just something to consider.

It still didn't happen. We're waiting for unemployment two months now. Torturing us because "they got empeachments to run! You know... do the PEOple's work".

 

[rangerod]

Incompetent government for sure. Nobody's gettin impeached. Don't know why they bother. Total waste of time effort and money.

 

[LanceS4803]

I certainly understand your concern. It's kinda scary. A little perspective though is to wonder what would happen without the stimulus spending. Just something to consider.

I think it was needed at the beginning, but it is time to let people go back to work (with precautions) and let the kids go back to school.
This economy is primed and ready to go. Take the brakes off.

 

[rangerod]

I think it was needed at the beginning, but it is time to let people go back to work (with precautions) and let the kids go back to school.
This economy is primed and ready to go. Take the brakes off.

You are certainly right. It looks like with the vaccinations we have covid on the run. I'm gonna settle in for a Hawkeye basketball game with Fireball and coca cola on the rocks.

 

[porkchop401]

I believe the only reason the government is wanting to raise minimum wage is so the folks making minium wage can now start paying taxes .

 

[DESPERATE LEE]

You are certainly right. It looks like with the vaccinations we have covid on the run. I'm gonna settle in for a Hawkeye basketball game with Fireball and coca cola on the rocks.

I like Fireball. We usually do it in straight shots though.
DL

 

[Muley Hunter]

I paid my taxes for a lifetime. Now it's time to get some back. I'll gladly take the $1400. Thank you.

 

[fishdfly]

I have the money and no revolvers are to be had.

 

[rangerod]

I like Fireball. We usually do it in straight shots though.
DL

Me and the boys do shots on the golf course in the summer. Ever tried the toasted caramel?

 

[Muley Hunter]

$1400 is getting close now. Some people have already got it.

 

[Newtire]

How many people really make Federal minimum wage, $7.25 an hour? And for how long?
Even our local Wal-Marts starts their workers at $11.50 an hour. And that is for my neighbor's kid who retrieves carts from the parking lot. He got his first raise in 3 months.

Lots of jobs in Idaho are still paying minimum wage. All depends on your location I figure.

 

[michiganmuzzy]

The job that i did for years, up til last February, paid $26/hr now pays $17-19/hr. Depends on experience. The guy that laid me off, had one of my former co-worlers ask me if i would come back! Wouldnt even call me himself.
He used the Covid-19 shutdown to get rid of several senior/higher paid employees. He's trying to refill those jobs with cheaper labor. Everyone that got laid off has been offered their jobs back at reduced pay. So far no takers.