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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]

#321

Post by 0xffff2 »

treyfitty wrote: post #188
anoonmoose wrote: post #8

Earlier quoted context omitted.

I have heard people say that it was an advance but found conflicting info, can you source?

> These rebates are structured as tax credits automatically advanced to households in 2020 if you filed a 2019 income tax return and would be received as a direct deposit or check by mail. https://lacyclay.house.gov/media-center/press-releases/congr...

Note for anyone who's not aware, a "tax credit" is basically free money. It's not the same as a deduction, which only reduces your taxable income. A credit directly reduces the amount of taxes you owe, and in most cases if the credit reduces the amount you owe to a negative number the IRS will pay you that money.

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

#322

Post by treis »

SketchySeaBeast wrote: post #281
treis wrote: post #245

Earlier quoted context omitted.

>If the economy bounced back to what it was on Feb 28th, what is your acceptable number of dead? Would you trade 9 million unemployed for 9 million dead? Do you think that wouldn't have an effect on the market as well? The vast majority of those dead are going to be 65+. Maybe I'm just feeling salty this morning, but considering how much that generation has stuck it to my generation I'm not even a little bit interest…

Is this sort of framing not a perfect example of cutting off your nose to spite your face?

I don't really see that analogy. The situation is more along the lines of choosing between losing my nose or my face.

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

#323

Post by greedo »

The long term scars of this upcoming Depression will be unlike anything anyone under 70 has experienced. And the scars will be long lasting.

My mother in law used to use Cool Whip containers for leftovers. When we'd visit, she'd send us home with food packed in them. Usually stuff like mashed potatoes, but often good stuff too. And when we'd visit her in a few weeks/month, she'd ask where her containers were. This was a generation that saved EVERYTHING. The idea of throwing something out was disrespectful. Waste was the worst of many mortal sins. All because of the Great Depression.

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

#324

Post by MiroF »

TeMPOraL wrote: post #319
MiroF wrote: post #257

Earlier quoted context omitted.

> Our concern is a supply chain meltdown when you have millions infected and sick. This is an absurdist prediction - we are looking at maximum 2 million 75+ year olds dying with some much smaller number of people of different ages. This is the group least likely to be involved in the day-to-day functioning of our supply chains. Honestly, where are people coming up with these doomsday predictions?

Have you watched the supply chains? Spikes in demand followed by demand collapse have already wreaked havoc. From what I read from people from that business, there's total chaos. And even if the elderly bear most of the risk, countries are shutting down completely for their sake - and that means companies stopping operations, leading to further disruptions. Also this article: US already has 10 million unemployed, and…

For food, fuel, and other essentials? If stuff like that starts getting disrupted to the point that people are actually dying, you can bet that we are going to lift our shelter-in-place. I have seen no evidence of that being borne out at all.

> I think this is closest to actual doomsday since the peak of Cold War

I agree, but I think that more speaks to the relative safety and stability of the post-Cold War era than any particularly huge danger from the pandemic. 2 million deaths is terrifying and we should do what we can to prevent it - I don't see any evidence that this is the lead up to general societal collapse or even substantial supply chain disruption for things you need to survive.

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

#325

Post by 0xffff2 »

nkozyra wrote: post #117
lquist wrote: post #102

Any numbers on what is happening for software engineering unemployment?

I don't think you really need to distinguish between industries at this point. It's all bad.

Is it really? I only have two direct data points, but I (government contractor) and my brother (large company) are both still fully employed with no immediate risk of unemployment, reduction in salary, etc.

Just look at the numbers. 20% unemployment, while horrific in both human and economic terms, also implies 80% employment. When nearly everyone in the hospitality industry is out of a job, I have to think that some other industry is doing relatively better or the numbers would be even worse.

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

#326

Post by hirsin »

adrr wrote: post #283
samfisher83 wrote: post #262

Earlier quoted context omitted.

I am not sure how how people like their health care. It seems like every big company is moving toward High Deductible plan. Even Microsft has a high deductible plan. Even if you think you are covered there will be a doctors who you think is in network because you go to an in network hospital who really is out of network.

Unions negotiated great Cadillac plans for their members. I can’t believe MSFT doesn’t have a platinum plan with a $300 deductible, every tech company has great medical insurance benefits to be competitive in the employment market.

Believe it. My deductible is 2500 of which Microsoft pays 1k. Lots of more senior folks bemoan the lack fo the Cadillac plan they used to get.

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

#327

Post by treis »

SketchySeaBeast wrote: post #316
malandrew wrote: post #288

Earlier quoted context omitted.

Not to mention all the assets that would be freed up for younger generations.

Is that really freeing anything up, or just accelerating inheritance? It's not as though we'll find ourselves with a magical new land of free cash for all - it'll just get passed down as it was going to anyways. Boomers are already leaving the workforce in droves, I don't expect it'd be any sort of revolution.

It frees up all the homes they live in, cars they drive, etc. We won't have to provide them health care, food, clothing, and luxury items. Once you retire you're a drain on the economy because you are consuming stuff but not producing anything.

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

#328

Post by 1-more »

AsyncAwait wrote: post #125
ihm wrote: post #101

Earlier quoted context omitted.

Already most Americans support Medicare for all – it’s our bought elected officials who don’t.

Seeing how they voted for Joe Biden who openly mocks the idea, as a non-American, I am very skeptical of how the support is manifesting.

The worst part is talking to people who think he supports it. The Dem primary about a year ago looked like the CPUSA primary; M4A was table stakes for every candidate. But nah, everyone had asterisks on what they actually meant by that.

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

#329

Post by meddlepal »

7777fps wrote: post #306
meddlepal wrote: post #233

Earlier quoted context omitted.

You know what he means, don't be pedantic.

It's not pedantic, a lot of people will die because people were saying, "It's just a flu" and not properly preparing or isolating.

Context and audience matter. If you're getting up in front of a bunch of people and advising them that it's "just like the Flu" you're doing damage.

If you're invoking the flu as a parallel for illustrative purposes with an informed audience then it's pedantic to call it out.

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

#330

Post by nitrogen »

lotsofpulp wrote: post #228
epc wrote: post #207

Earlier quoted context omitted.

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.

The money saving move is to pay for the insurance via COBRA only after you need healthcare, since it’s retroactive.

If you go entirely without coverage you'll likely still have to pay a fine on your taxes, though it's probably less than COBRA.
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