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Additional 6.6M File for Initial Unemployment Benefits [pdf]

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Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#201

Post by treyfitty »

kevstev wrote: post #170
treyfitty wrote: post #92

For those living in cities that are locked down, what do yall do about daycare? In NYC, my daycare isn't reimbursing fees, so we're continuing to be charged with a promise of "if insurance pays out, we'll pass it down." With 2 kids, that’s $5,000. Assuming they’re closed for 3 months total, that’s $15,000 down the drain. Now, I get that they're a small business, but their problem is that they can't exactly layoff the…

I don't understand- they are not providing the service but also not reimbursing fees? That makes zero sense to me- do you pay monthly, and ahead of time?

Monthly on the first of every month for services to be rendered that month. It makes sense that they charge, but I just don’t like it. Similar to if you don’t use your apartment- your landlord isn’t refunding you for that.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#202

Post by newshorts »

RIMR wrote: post #163
aluminussoma wrote: post #48

Earlier quoted context omitted.

What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.

You fear a revolution towards healthcare, housing, food, etc. as human rights? Personally that revolution can't come fast enough. This country has betrayed its constitutional duties to its people for decades (supporting the general welfare, anyone?). We NEED revolution at this point since it seems both of our two parties are on the same side when it comes to Working Class America.

Agreed. Both most of our elected officials are neoliberal (dems/Republicans). Economically, neither party is working for the middle class

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#203

Post by eternalban »

aluminussoma wrote: post #48
PragmaticPulp wrote: post #31

Unemployment benefits have been significantly expanded under the Coronavirus aid bill. The benefit amounts will sound small if you're living in an expensive city like SF or Seattle, but $600/week from the federal government and a similar amount from state unemployment insurance means that unemployment benefits can pay up to an equivalent of $50-60K/year right now. That goes a long way in most parts of the country, es…

What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.

There will no revolution by the utterly destroyed middle and lower classes lining up to get state handouts from the military to live. I'm sure Rand corporation or some such has detailed operational plans to roll out to deal with these perfectly predictable societal disturbances.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#204

Post by aluminussoma »

Frost1x wrote: post #107
aluminussoma wrote: post #48

Earlier quoted context omitted.

What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.

Also I'm not sure if I'm in agreement with the tactic of immediately pushing employees to unemployment. Unemployment is funded by taxes which are largely paid by the same people being laid off. If you're promoting businesses push people to unemployment instead of first trying to cover them during hardship and also taking a loss (as everyone else is), you're pushing for more tax subsidies to businesses indirectly. Une…

In California, unemployment benefits are a form of insurance that is paid by the employees of your previous employer (caveat at end). If the company went bankrupt, I'd assume that the costs are spread out among all the employees of all companies in that state. If your employer has more claims, it's employees are charged a higher amount per paycheck.

In the sense of insurance, not claiming unemployment benefits is like laying for insurance and not using it when you have a claim. A personal choice for you to make.

In most cases, you also have to prove you are actively looking for work to get benefits.

However, the recent CARES Act does supplement unemployment benefits from federal taxes.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#205

Post by StillBored »

fock wrote: post #118
dante_dev wrote: post #87

Earlier quoted context omitted.

In Italy you see 10% mortality because Italy tests only (really) sick people. It's really likely that millions of italians have covid. This is not really demonstrable at the moment, but still https://www.wantedinrome.com/news/coronavirus-report-six-mil... Italy is treating every single patient with high standard healthcare. They did not reach the "0 free ICUs" moment yet. What we can say as of today is that the high…

sick of hearing this silliness: https://www.ecodibergamo.it/stories/bergamo-citta/coronaviru... so yeah, they barely test half the dead people (which are still double the normal deaths...). And A LOT of covid patients means a lot of deaths as well, bc. at 1.3% (Diamond Princess, where people are still not through it/dying) to 5% letality, the thing IS BAD.

But again, what was the age group on Diamond Princes? Because it matters, the death rate goes up with age. 5% says the average age was something like 50.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#206

Post by makomk »

Frost1x wrote: post #107
aluminussoma wrote: post #48

Earlier quoted context omitted.

What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.

Also I'm not sure if I'm in agreement with the tactic of immediately pushing employees to unemployment. Unemployment is funded by taxes which are largely paid by the same people being laid off. If you're promoting businesses push people to unemployment instead of first trying to cover them during hardship and also taking a loss (as everyone else is), you're pushing for more tax subsidies to businesses indirectly. Une…

The longer companies hold out on pushing employees onto unemployment and dig into their reserve funds to pay them, the more risk there is that the companies will no longer exist to employ them whenever the country exits lockdown. Very few businesses are exactly well equipped to handle the entire economy being brought to a halt in the first place.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#207

Post by epc »

PragmaticPulp wrote: post #83
aluminussoma wrote: post #48

Earlier quoted context omitted.

What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.

> What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA. Strongly agree that health care coverage is a major concern. We have a long way to go toward an ideal situation. Sadly, many of the people who are first to be laid off are least likely to have employer-sponsored insurance benefits in the first place (hourly jobs).…

Just experienced this with my spouse leaving Google in February. COBRA window was 60 days from last date of employment. We weren't going to go with COBRA until the pandemic expanded to the US, then we paid for two months.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#208

Post by jackcosgrove »

SketchySeaBeast wrote: post #126
generalpass wrote: post #17

I hope that tech industry employees do not feel immune to this. I encourage you to take a look at your customer base and think very critically about where that money is actually coming from.

We're down to a one income household now and my company has already let people go. I've been foolish with my money and kept it all liquid until now so the market drop didn't hurt my reserves, but I'm painfully aware I'm one job loss away from slowly going destitue and homeless.

You have been very wise with your money. The stock market has been over-valued for years and now you have a safety net.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#209

Post by treis »

gph wrote: post #74
toomuchtodo wrote: post #36

Earlier quoted context omitted.

Yes, the federal government is providing more stimulus juice (one time cash payment and unemployment top up), but no, it is absolutely not going to be enough for the economic challenge we're facing.

You say that with such conviction when you don't have any better info on what the future holds than anyone else. The unemployment benefits (which for many of the unemployed will actually be higher than their regular pay) last for the next four months. If the quarantine lifts by the end of May and businesses reopen then it will be enough. Obviously that's a big if, but for you to come out here and act like you know so…

We've had plenty of recessions before and not once has the economy simply been restarted. To use an example, I work on software for a company in the dental field. The circle is:

Nobody is going to the dentist because of Covid -> Dentist stops using my client's services -> Client cancels my project -> I get laid off -> I can't afford to go to the dentist -> Nobody goes to the dentist because they can't afford it.

That story is true for every industry. And it gets worse. In anticipation of the economic storm coming we have stopped all non-essential purchases. Which means a whole lot of businesses are out of revenue. Multiply that across the economy and everything but essentials is grinding to a halt.

The only way out of it, that I see, is the government stepping in and guaranteeing, without a salary cap, unemployment benefits at 80-90% of salary for as long as the crisis lasts. Even then I'm not sure it's enough to fix the actual damage that has happened.

Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]

#210

Post by asdfman123 »

boringg wrote: post #51
PragmaticPulp wrote: post #31

Unemployment benefits have been significantly expanded under the Coronavirus aid bill. The benefit amounts will sound small if you're living in an expensive city like SF or Seattle, but $600/week from the federal government and a similar amount from state unemployment insurance means that unemployment benefits can pay up to an equivalent of $50-60K/year right now. That goes a long way in most parts of the country, es…

Agreed though I think you hit the nail on the head...how much demand will there be after the pandemic passes(?). We were at the apex of a bull market, now we're heading towards a deep depression. A lot of those jobs won't exist sadly. This goes for current markets impacted but the ripple effects are pretty large.

And lots of people don't realize how long this will last. They say we're going to reopen in a month, but right now the curve doesn't seem to be bending significantly. We're not going to reopen when there's way more cases, and that's where we're heading.

Also, when we reopen, it will be short term and still pretty locked down. It's absolutely not the end, but a slight reprieve.

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