What about landlords ? I know lots of people with rental properties who scrimped to get a down payment who cannot afford to have no rent coming in. Many landlords aren't rich just thrifty and make good decisions.
It should just be capped at 100% of your regular pay. Don't know why it wasn't. Unemployed cashiers in Kansas don't need or shouldn't be getting $3000/mo whereas people in areas with a higher cost of living may even need more.
I would say it needs capped at a bit less, like 80-90%. You still want to motivate people to return to work. Remembering that a lot of expenses are reduced with less dining out (for many) and childcare expenses, let alone tax deferments now, etc. Hell, my auto policies are reduced right now for an automatic “stay at home” credit that assumes I drive less.
I’m making more by investing and trading that money instead while the interest rate is at 0%, which will allow me to pay back more of my student loans once the interest rates return to what they were. I’ll be able to pay it all off in one lump sum by that point, with some gains leftover
I will take this a step further. Give a bonus amount back to anybody who worked through the entire pandemic without taking any government benefits... reward everybody who did the right thing.
Well, I worked through the whole thing except one week in June and one in July, which my company furloughed everyone due to lack of work related to China virus.
Good point. I'd say you should for sure qualify. If you did collect an extra 600, I would say perhaps your first 600 of the payroll tax holiday is paid back though, or maybe just a portion of it.
The spirit of my messages remains though. You clearly are not the issue, Patriot.
That is only fair. All of my children worked every day.My daughter covering the duties of 3 people who were "laid off" and making much more money than she was , working 10 hour days . It has been a pretty bitter pill for her to swallow. Her employer did nothing to make this right. My sons are in business for themselves and have been paying taxes all along. I do feel that the people who worked all the way through this should get some sort of reward.
Exactly the issue. Free money to people who only have a vote to give is the liberal “make dependency “ way. Cash going back to the people who have always supported this cash for votes scheme is brilliant. Talk about shaking things up.
Guy on Reddit told me this is useless and for most of us will only buy us a nice pizza every month.
Does that guy really think most people are making under $400 a month? If this passes this week and goes on until the end of the year, this will be almost an extra $4k in my pocket.
Postpone payment. If I were any of you that are happy with this, i would change my withholding amount on w-2. A 7% increase is not an increase its just making you pay more on April 15.
Does no one have a brain anymore. Reading comprehension please.
There’s nothing said about pay back on April 15th. Deferral could be paid back on terms, or even %’s of it forgiven. This could be the beginning of a game changer.
Common sense. This is how the pandemic should have been handled from the beginning, not extra benefits for those who don't work.
We had an emergency at work and tried to contact a previous employee who had to be laid off (he wanted that). When asked if he could come in and help through an emergency we were having (an IT emergency, took just a couple weeks), he said no way because he was making more money doing nothing at home. Double whammy.... we didn't get the help we needed and he was getting paid more.
I wish this was done from the get-go.... glad it's being done now.
More than 20,000,000 Americans enjoying one less paycheck thanks to schools not opening. Thank you democrats for trying to shut everything down to ruin the economy.
Question. Will non u.s citizens receive this? I know people who are working legally on visas who have TDs. Want to ask them if they're going to donate it or give it back.
Don’t get me wrong I love POTUS and what he does for the American people.
Not to be a sour puss about this but not paying into SS how will that affect current retirees and none too distance future retirees? I believe it takes 3:1 to pay a retiree? I’m all for giving people help, and workers especially but what would the ramifications be 10 years down the road?
EO for forbearance on student loans is good but no freebies.
Hopefully mortgage companies will continue to work with homeowners who are unemployed.
I read some article a few years ago where s an economist calculated everything he would contribute to SS up to retirement age and based on the benefits he would receive, concluded that he would get just short if $500,000.
Then he calculated his contributions with the standard 401k return based on the last few decades, I think it was 10%, and concluded he would have over $3 million.
I literally did this same exact calculation independently when I was 18. Hence why I've gone out of my way to structure my life to pay as little tax as legally possible.
Keep up the good attitude. It's tough for a lot of us right now. We've got to keep up our spirits together and know full well that President Trump is going to bring us all through this soon.
You probably just can't find a job you want paying you what your want. If you were looking for any 40/hr week full time job paying under 15/hr, you'd have multiple job offers in less time than it took me to eat breakfast this morning.
Not every employee (like mine) has it paid this way. They pay it by artificially lowering salaries so I never even see it. They pay, not me. They'd have to make a multi million dollar software change over night for me to see it. Again, I doubt I'll see it you YOU FUCKING ASSHOLE.
I don't know why you're being downvoted. You're right. Employers know that paying someone say $15/hr costs them closer to $18/hr once you factor in benefits, tax, FICA, unemployment, etc. Now we got rid of one portion of that, and it costs employers closer to $17/hr to give you $15/hr.
Employee is still getting 15/hr gross, but making a little bit more net because their FICA is removed. Employer is saving ~$1/hr.
They really don't have a reason to pass that on to you. You're still getting paid your agreed upon $15/hr. They can use that savings for anything they want.
B-b-but that will only help WORKING PEOPLE.
What about all those Democrats?
That's RAYCIST!
Employee Privilege.
“Black people are just as important as working people” - Joe Biden next week
He also stopped student loan payments
Eviction moratorium also was spoke about.
What is happening with regards to evictions I didn't catch it.
What about landlords ? I know lots of people with rental properties who scrimped to get a down payment who cannot afford to have no rent coming in. Many landlords aren't rich just thrifty and make good decisions.
Out, out, out!!!
Just kidding sounds like there’s a moratorium extension.
He discussed the eviction moratorium for a moment. I can't get any exact details on it yet.
I don’t see how blocking evictions works past the very short term. Will property owners not have to pay mortgage or bills?
This includes only Payroll taxes, like SS and Mediare not Federal taxes.
Is FICA a payroll tax?
Yes
Holy shit! I can keep nearly $700
A month? Damn, your richer than I am bastard!
I just looked at my check from last month. Its $500 not $700. I guess I'm not that rich. 😔
Whos this FICA guy and whys he taking all my money?
If you’re referring to private loans, I don’t think he has any control over those. Sorry 😐
It should just be capped at 100% of your regular pay. Don't know why it wasn't. Unemployed cashiers in Kansas don't need or shouldn't be getting $3000/mo whereas people in areas with a higher cost of living may even need more.
I would say it needs capped at a bit less, like 80-90%. You still want to motivate people to return to work. Remembering that a lot of expenses are reduced with less dining out (for many) and childcare expenses, let alone tax deferments now, etc. Hell, my auto policies are reduced right now for an automatic “stay at home” credit that assumes I drive less.
I have friends whose employees won’t come back because they are receiving the same money for sitting home playing video games. That can’t continue.
I could get on board with that.
I’m making more by investing and trading that money instead while the interest rate is at 0%, which will allow me to pay back more of my student loans once the interest rates return to what they were. I’ll be able to pay it all off in one lump sum by that point, with some gains leftover
I will take this a step further. Give a bonus amount back to anybody who worked through the entire pandemic without taking any government benefits... reward everybody who did the right thing.
Well, I worked through the whole thing except one week in June and one in July, which my company furloughed everyone due to lack of work related to China virus.
Would I get the bonus?
Good point. I'd say you should for sure qualify. If you did collect an extra 600, I would say perhaps your first 600 of the payroll tax holiday is paid back though, or maybe just a portion of it.
The spirit of my messages remains though. You clearly are not the issue, Patriot.
That is only fair. All of my children worked every day.My daughter covering the duties of 3 people who were "laid off" and making much more money than she was , working 10 hour days . It has been a pretty bitter pill for her to swallow. Her employer did nothing to make this right. My sons are in business for themselves and have been paying taxes all along. I do feel that the people who worked all the way through this should get some sort of reward.
Do way pay the taxes at the end of the year?
I would say yes. He can not cancel taxes, only postpone or defer.
Claim less because next year will be a shit storm.
Under Biden you're right.
Oh wait.. you were talking about taxes.
Sorry.
What if it goes into a traditional IRA or 401k? Then it gets deducted from your taxable income.
Deferred
Deferred. It’s up to the businesses to pass the savings on to the employees from what I was able to figure out.
The idea is that it will be deferred now and then forgiven later. Not sure businesses will pass the funds on.
I want to see that kid who opened his first paycheck with his family to see his next check. Please record that.
Exactly the issue. Free money to people who only have a vote to give is the liberal “make dependency “ way. Cash going back to the people who have always supported this cash for votes scheme is brilliant. Talk about shaking things up.
Guy on Reddit told me this is useless and for most of us will only buy us a nice pizza every month.
Does that guy really think most people are making under $400 a month? If this passes this week and goes on until the end of the year, this will be almost an extra $4k in my pocket.
He said it’s retroactive to July 1 so 6 full months
Postpone payment. If I were any of you that are happy with this, i would change my withholding amount on w-2. A 7% increase is not an increase its just making you pay more on April 15.
Does no one have a brain anymore. Reading comprehension please.
Being 44% of Americans pay NO FEDERAL INCOME TAX ... at the end of the year.
I appreciate your concern. Thanks.
i say give people more money... NOW. Thanks again.
Will it effect state as well?
No, just federal.
But they pay AS and Medicare tax. Put it in a savings account.
There’s nothing said about pay back on April 15th. Deferral could be paid back on terms, or even %’s of it forgiven. This could be the beginning of a game changer.
Common sense. This is how the pandemic should have been handled from the beginning, not extra benefits for those who don't work.
We had an emergency at work and tried to contact a previous employee who had to be laid off (he wanted that). When asked if he could come in and help through an emergency we were having (an IT emergency, took just a couple weeks), he said no way because he was making more money doing nothing at home. Double whammy.... we didn't get the help we needed and he was getting paid more.
I wish this was done from the get-go.... glad it's being done now.
Bingo!
That is all so wrong. I'm retired , but my kids have faced the same thing with "Co workers"
More than 20,000,000 Americans enjoying one less paycheck thanks to schools not opening. Thank you democrats for trying to shut everything down to ruin the economy.
Did he sign the executive order yet?
Not yet.
Holy shit that's over $500 a month. About to fund that IRA
Question. Will non u.s citizens receive this? I know people who are working legally on visas who have TDs. Want to ask them if they're going to donate it or give it back.
How come everyone keeps saying 7% or 8% when it is 7.5% exactly?
(Up to the limit of course)
I say "7" to estimate low.
Don’t get me wrong I love POTUS and what he does for the American people.
Not to be a sour puss about this but not paying into SS how will that affect current retirees and none too distance future retirees? I believe it takes 3:1 to pay a retiree? I’m all for giving people help, and workers especially but what would the ramifications be 10 years down the road? EO for forbearance on student loans is good but no freebies. Hopefully mortgage companies will continue to work with homeowners who are unemployed.
No clue but personally if I could opt out and stop paying into it I would. Would rather use my own savings vehicles.
Agreed.
I read some article a few years ago where s an economist calculated everything he would contribute to SS up to retirement age and based on the benefits he would receive, concluded that he would get just short if $500,000.
Then he calculated his contributions with the standard 401k return based on the last few decades, I think it was 10%, and concluded he would have over $3 million.
Social security is theft.
I literally did this same exact calculation independently when I was 18. Hence why I've gone out of my way to structure my life to pay as little tax as legally possible.
Sorry you're having a rough time, fren. Good luck next week!
Keep up the good attitude. It's tough for a lot of us right now. We've got to keep up our spirits together and know full well that President Trump is going to bring us all through this soon.
Can you not find a job?
where do you live without doxxing yourself?
Lmao that’s a stupid question
job markets can vary by location.
You probably just can't find a job you want paying you what your want. If you were looking for any 40/hr week full time job paying under 15/hr, you'd have multiple job offers in less time than it took me to eat breakfast this morning.
Jesus don’t work. No one fucks with the Jesus.
That math doesn't really work unless you already have 15+ employees to begin with.
Uh, no we won't. Our employers will enjoy that as they (not we) pay it. I doubt I'll see the money.
Incorrect.
Dude. You really think we weasel evil employers could hide something like that on a paystub, and subsequently, magically avoid federal prison after?
‘Fuck outta here.
Please please please educate yourself before you speak. You are 100% wrong. Of all the wrong I have ever seen, you are the wrongest.
Not every employee (like mine) has it paid this way. They pay it by artificially lowering salaries so I never even see it. They pay, not me. They'd have to make a multi million dollar software change over night for me to see it. Again, I doubt I'll see it you YOU FUCKING ASSHOLE.
I don't know why you're being downvoted. You're right. Employers know that paying someone say $15/hr costs them closer to $18/hr once you factor in benefits, tax, FICA, unemployment, etc. Now we got rid of one portion of that, and it costs employers closer to $17/hr to give you $15/hr.
Employee is still getting 15/hr gross, but making a little bit more net because their FICA is removed. Employer is saving ~$1/hr.
They really don't have a reason to pass that on to you. You're still getting paid your agreed upon $15/hr. They can use that savings for anything they want.
We have a bunch of retards here unfortunately.