New $750 billion stimulus bill + $2,000 stimulus check update + EIDL update
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Today I want to make sense of the madness that is the CARES ACT, and PHASE 4 of the proposal because NOW the leaders of both parties are starting to chime on on these stimulus proposals that we’ve talked about in the past because there’s a new one on the horizon.
We’ve heard them all so far: Rent and Mortgage Forgiveness, $2,000 a month stimulus checks for up to 1 year, and tax breaks and payroll support for big corporations. But if you haven’t been keeping up, the government without publicly announcing, has just cut down the EIDL.
The emergency injury disaster loan program which was meant for small businesses, and separate from the PPP, down to a $150,000 from their original promise of $2,000,000. This means many small business owners will most likely have to declare bankruptcy.
The reason they did this: is because they want agriculture businesses to have the priority and because there is such a huge demand and funding is drying up. This will have bad consequences because I used to work for a startup and I think small businesses are the backbone of America and without them, you’re going to see a lot more unemployment which only make things worse.
Here all the stimulus package phases we’ve been through so far:
PHASE 1: was around $8.5 billion dollars to support research in development for vaccines, which was passed on March 5.
Phase 2: was a little larger at $105 BILLION dollars, which passed on March 18 and gave people paid sick leave, insurance for unemployment, and free testing.
Phase 3: was $2 TRILLION dollars passed on March 25th, the LARGEST stimulus plan in history. This is the one that with direct payments to us, small businesses, and support for healthcare.
Phase 3.5 Included $484 billion dollars to replenish some of what was offered in previous phases.
Now we’re entering the PHASE 4 of the stimulus plan between the democrats, and the republicans to provide some more relief.
The democrats are writing A bill that includes more than $750 BILLION in aid to state and local governments which would REALLY help people like teachers, police officers, and firefighters. So most likely, we will see some sort of a compromise or agreement here however;
The Democrats are also asking for extending unemployment benefits of $600 per week, PLUS potentially another round of aid to Americans most likely in the form of another stimulus check. In addition to that, the $2,000 a month stimulus check bill is back – this time proposed by senators Bernie Sanders, Ed Markey, And Kamala Harris. If passed, everyone who makes under $120,000 a year will get $2,000 a month. Married couples would receive $4,000. Families would receive $2,000 per child for up to three children, and payments would be paid retroactively to as far back as March.
URGENT NEWS: for all Robinhood investors and shareholders of Disney: they decided to cut their dividends which is unfortunate because as a dividend investor myself, I, along with many other people like retirees, rely on this dividend as a form of passive income to supplement my lifestyle and pay for my bills.
FINANCIALLY speaking this is a very smart move for them, saving them roughly $1.6 BILLION dollars this summer alone, allowing them to survive.
For further research, please look at these articles:
DEMOCRATIC PROPOSALS: https://www.forbes.com/sites/ryanguina/2020/05/08/a-new-2000-monthly-stimulus-payment-proposed-by-senators-harris-sanders-and-markey/#13a948951de0
$2,000 A Month Stimulus proposed by 3 Democratic Senators: https://bit.ly/2L9KU9a
*Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
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Are you for opening the economy or prefer to stay at home?
I went bald during this time lol
Your video is so good,hope you get better and better
Your video is so good hope you get better and better
Reopen the economy.
Handouts can only be a short-term answer, at best.
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Remember we all lost our jobs and business because of covid 19
It's not because the people don't want to work it's because the people don't want to get sick
How much money can Robin Hood hold at one time
I love your videos so much. Informative, and also you're hilarious.
It is what it isssss
My question after watching many, many of your videos… Is it right to say that you use an individual trading account for your dividend investing and a Roth IRA for your index fund investing?
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Stimulus checks don't help "the little guy", and neither do guaranteed monthly payments for a year; they incentivize staying home and destroying the countries infrastructure…
Ah yes because giving tax breaks to large corporations has historically….always worked
It should be a little bit of both. Tax cuts and some sort of stimulus money.
My best investments over the last three years have been preferred stocks rated BBB or better. Always buy them below par (usually $50,000.) Many I have bought at 25 to 30 while enjoying a fixed dividend return of 10 to 15 % then watching all recently increase to par $100,000. for a nice 20% to 30% monthly return. My Fund Manager’s best income recommendations are: FFC, GAB, PML etc… The first two make a nice diversified portfolio (preferred, equity, and internationals) and the last a tax free bond fund. The first three pay 10% to 15% annual dividends and the PML pays 7.5% tax free. Beats the heck out of the Dow and CD's and treasuries.
please dont let this bill pass, the libtards will ruin our country
well if u go back to work u could catch the virus and make others sick or worse die
so dammed if u do dammed if u don't.
but I say open back up and give us the money just remember it is an election year so email ur reps and tell them what you want. just say we want the $2,000.00 a months and back pay .
It’s strange that many in the US has become an infectious disease and epidemiology expert while at the same time forgetting how to add and subtract. Of course open the economy. Wear a mask wash hand avoid contact with vulnerable people. Stay hone if you are sick.
Why not just… I don't know… Offer people hazard pay for those returning early. The government will top up wages, so businesses don't have to foot the bill. It's such an easy concept. 🤨
open the economy butttt… giving tax break to big corporations is not going to get them to take every employee back… nada !!!
I say open economy n then who ever still arnt hired back who were employed before this pandemic should get stimulus check instead of al for max of August (new quarter, if see a good bounce new hire in place can be expected )!!! n rest as tax break to businesses
I really hope they don't give another stimulus check.
UBI of 1k a month won't motivate anyone to stay home and not work. 12K a year isn't going to make you ballin son. Most of that money would be put right back into the econ for most people.
I’m receiving unemployment and got the stimulus but I do I agree that they need to reopen the economy but with good measurements and safety. The money that I’m getting from unemployment is just the same as much as I get from my work, the only difference is “I’m not doing any work”. The big problem with this is, a lot of us are taking it for advantage especially those families who has tons of children.
I’m receiving unemployment and got the stimulus but I do I agree that they need to reopen the economy but with good measurements and safety. The money that I’m getting from unemployment is just the same as much as I get from my work, the only difference is “I’m not doing any work”. The big problem with this is, a lot of us are taking it for advantage especially those families who has tons of children.
Only just found your channel. Loving the informative content, editing and production style. Subbed, looking forward to both old and future videos!
Children that are 16, 17, and 18 19 are still at home with their parents, they are out of work too also most of are just finishing schools, why are they being ignored.
As the stock market is now divorced from actual production, so have wages been divorced from worker productivity for decades (over 40 yrs ~6-8% wage growth compared to ~70% productivity increase). Add shift to service/speculative economy, 40% of laborers working multiple jobs to make up for the stagnation, outrageous student debt/predatory debt servicing, outsourcing…. Trickle-down has not worked, trickle-up has. A few K to the <$100K might help fund the next great startup rather than more trickle-up ( aka socialism for the rich). This is also a great opportunity for all of us to really "follow the money". Maybe we'll figure out where that missing $21 TRILLION went and get millionaire Betsy DeVos to reimburse the millions she's taken out of public education for her security detail ( isn't this her millionaire brother's specialty?).
Awesome vid Andrei, but the background music is annoying 🙁
Give the people the stimulus to get back on their feet, and reopen keeping safety in mind.
Why do all these youtubers milk these vids noone cares to keep hearing quotes we want real facts and updates every day same thing is being said where are the real facts not quotes update us when there is a stimulus plan in effect when it actually gets passed
I brought Disney stock a month ago 🥴
Buy bitcoin! Power to the blockchain! And proof stake governance consensus tokens
Honestly as a whole I dont believe it is the governments job in this case to force people to quarantine and shutdown the economy. The governemnt is over extending on this issue. There is a lot more information indicating that this virus is not nearly as deadly as earlier projected. With some of the antibody testing it is predicted that millions of people just in NY might of had it and lived crushing the death rate. Also the incentivising of marking patients as COVID patients/deaths is contributing to a higher death count. The people should be allowed to take the risk if they want and go about their life, I of course encourage people to take on proper hygiene as usual. It is not my intent to disrespect anyone who has passed. It is also to be noted that the average death age for the virus is actually close to the average age of death as well. This virus is not enough to force people to stay home which is also against the first amendment which includes freedom to assembly. I dont believe fear should rule us, and just because the orange man agrees with opening the economy it doesnt make it wrong. I also disagree with the idea that the democrats want the best for the economy, I believe they want to make people reliant on the government. Goods and services arent created out of thin air, everyone should contribute in some way. Im on unemployment being spoiled right now and its just causing overall laziness especially as a student when I am getting paid more to stay home than before actually going to work. Sorry for the long comment but figured I would lay out my perspective.
Can we pass both??? You shouldn't be making more on unemployment than any working person
In the states they reopened to early their numbers skyrocket with new cases… can't restart the economy with dead people smh
Main Question to everyone : Do you value your life or money more? That is the difference between staying home & working. IMO
America is doomed anyway, I'd take my money and prepare let the morons who don't see the writing on the wall get taken.
I just woke up from a coma ,what's going on ?
I say stop giving the 600 extra money to unemployment benefits and when the people milking the extra money they will starve or go back to work
Come June damn dems be gone if people know what good for em people refuse to go back work will be auto cut off unemployment co will report them as vol quieting
Covid pandemic ain't over yet. Lets stray hime.
STAY SWOLE BRUH!