🧑‍🤝‍🧑 / 🏡 CV-19: Effects on life, work, and sports

[TerryP]

These kinda things irritate me.

Hearing complaints from those who haven't received their money but also haven't had their income affected...that's topping my list at the moment.

 

[18Champs]

 

[planomateo]

Hearing complaints from those who haven't received their money but also haven't had their income affected...that's topping my list at the moment.

Who are you hearing that from?

 

[It Takes Eleven]

These kinda things irritate me. Promising money and then taking forever to deliver it... Federal Government 101.

You'll rarely hear anyone defend the U.S. Treasury, or the IRS in particular, but it's not geared to reverse engines, aggregate and utilize prior-year bank records to send out tens of millions of checks. They have been asked to use stale information to send out a current stimulus. Remember, tax filings have been delayed, so they don't have current information. Out of a legitimate concern for citizen privacy and to avoid the impact of a potential cyber incident, the IRS had not aggregated all of your banking data before. Had they done so, the conspiracy theorists would be making hay. There's no button that says, "send payments to all citizens with incomes under X, and stratify as incomes increase". It's a monumental undertaking. Despite that, 80 million people already have their money. The physical checks take time, printing 5 million checks a week and starting with the lowest earners. If you don't have banking information to make direct deposits on the balance of those who appear to qualify, and you have a physical constraint on how many checks you can print a week, how would you do it? For those who have changed banks, or who have had their accounts closed due to unpaid overdrafts, how would you know this was the case until you sent the electronic deposit, and then how would you remedy the situation if you now have no current record of where the citizen banks (some Libertarians, in a different scenario, might be happy about that)?

Similarly, the SBA has been under heat for a lack of responsiveness under the Payroll Protection Program. The first round of originations, around $250 billion, went off in a few weeks and represents about ten years of normal SBA volume (this is in dollars, the actual number of loans processed is far greater than tenfold). The second round is on the cusp of being finalized. Together, these loans would create the nation's fourth largest bank.
It's not making ventilators, but it's not the push of a button to print 60 million checks. I expect Treasury to beat their published estimates on printing dates, but physical check printing - and addressing the exceptions to the mass electronic transmission - will take time. The stragglers with unusual exceptions will take months, plenty of material for lazy newspaper writers to cover.

RTR,

Tim

 

[BamaFan334]

These kinda things irritate me. Promising money and then taking forever to deliver it... Federal Government 101.

Or when they owe you money (from a tax return) and take their sweet time paying you, and we can't charge them interest. Oh but they'll blast you with late fees and interest when you owe them. That's the part that irritates me.

 

[18Champs]

They should say no, I'm not going to work to put food on the table. The voice of the Democratic party, folks.

 

[18Champs]

 

[planomateo]

I've yet to file my taxes this year. Figure they're giving me an extra 3 months to pay, I'm gonna take the 3 months.

I have yet to wear a mask or gloves for what it's worth.

 

[mando]

Mine was deposited directly about 2 weeks ago.

 

[planomateo]

Hoping we can get back to work soon.

For the week ending April 18, another 4.427 million Americans filed for unemployment benefits. Economists were expecting 4.5 million initial jobless claims to be filed for the week. The prior week’s figure was revised lower to 5.237 million from the previously reported 5.245 million. Over the past five weeks, more than 26 million Americans have filed unemployment insurance claims.

 

[planomateo]

You'll rarely hear anyone defend the U.S. Treasury, or the IRS in particular, but it's not geared to reverse engines, aggregate and utilize prior-year bank records to send out tens of millions of checks. They have been asked to use stale information to send out a current stimulus. Remember, tax filings have been delayed, so they don't have current information. Out of a legitimate concern for citizen privacy and to avoid the impact of a potential cyber incident, the IRS had not aggregated all of your banking data before. Had they done so, the conspiracy theorists would be making hay. There's no button that says, "send payments to all citizens with incomes under X, and stratify as incomes increase". It's a monumental undertaking. Despite that, 80 million people already have their money. The physical checks take time, printing 5 million checks a week and starting with the lowest earners. If you don't have banking information to make direct deposits on the balance of those who appear to qualify, and you have a physical constraint on how many checks you can print a week, how would you do it? For those who have changed banks, or who have had their accounts closed due to unpaid overdrafts, how would you know this was the case until you sent the electronic deposit, and then how would you remedy the situation if you now have no current record of where the citizen banks (some Libertarians, in a different scenario, might be happy about that)?

Similarly, the SBA has been under heat for a lack of responsiveness under the Payroll Protection Program. The first round of originations, around $250 billion, went off in a few weeks and represents about ten years of normal SBA volume (this is in dollars, the actual number of loans processed is far greater than tenfold). The second round is on the cusp of being finalized. Together, these loans would create the nation's fourth largest bank.
It's not making ventilators, but it's not the push of a button to print 60 million checks. I expect Treasury to beat their published estimates on printing dates, but physical check printing - and addressing the exceptions to the mass electronic transmission - will take time. The stragglers with unusual exceptions will take months, plenty of material for lazy newspaper writers to cover.

RTR,

Tim

Good points.

I'd say it should be explained as such by the Treasury Secretary during the daily briefings. Be transparent with people. No matter how much communication is done, there will always be the spin machine twisting what's said into their agenda.

I'm of the opinion it should be explained more than it has been.

 

[rick4bama]

With all these states wanting to go back. I'm thinking more and more about getting a mask to wear here at the house. We got a few restaurants here that is opening up today!

Talking about the check that is coming. My granddaughter had her taxes done with H&R Block. Has it put on the debit card, well something happening with this card and she has to wait on the paper now. But i heard that some here has stated getting the paper now.

 

[bama alum]

They should say no, I'm not going to work to put food on the table. The voice of the Democratic party, folks.

Good Lord! She's a freaking idiot!

 

[JoshB]

With all these states wanting to go back. I'm thinking more and more about getting a mask to wear here at the house. We got a few restaurants here that is opening up today!

If you don't have any already, be wary of getting any online. My parents bought "some" on Amazon and didn't pay attention that it simply said "pack of mask" rather than how many and the picture showed like 20. They ended up paying $20 for one mask. Granted Amazon refunded it and banned the seller for price gouging but apparently this going on a lot and other sites may not be as user friendly about refunding.

 

[JoshB]

They should say no, I'm not going to work to put food on the table. The voice of the Democratic party, folks.

Boy, you went out of your way to take what she said out of context didn't you? She's saying that she doesn't think people should just say yes we're going to go back to working 70 hours a week to make the bare minimum to survive. Agree or disagree with that mindset, what you suggested she said is simply not the case.

 

[RollllTide!]

Boy, you went out of your way to take what she said out of context didn't you? She's saying that she doesn't think people should just say yes we're going to go back to working 70 hours a week to make the bare minimum to survive. Agree or disagree with that mindset, what you suggested she said is simply not the case.

She is the one that said it out of context. The Majority of people out of work make more than minimum wage. In fact the ones on minimum wage would do better with staying on unemployment, because of the extra $600.00 per week. Saying what she said was a broad slur to working America. I don't know how you can agree with that.

 

[18Champs]

Boy, you went out of your way to take what she said out of context didn't you? She's saying that she doesn't think people should just say yes we're going to go back to working 70 hours a week to make the bare minimum to survive. Agree or disagree with that mindset, what you suggested she said is simply not the case.

I'm taking what she said in the context of who she has proven to be.

Just a few days ago she's rejoicing the oil market has crashed the way that it has.

 

[TerryP]

Who are you hearing that from?

Most recently, the next door neighbor of a good friend of mine. She's retired Military, as is her husband, and they haven't received anything yet.

 

[RollllTide!]

Most recently, the next door neighbor of a good friend of mine. She's retired Military, as is her husband, and they haven't received anything yet.

We have nada. So they will be sending us a big fat check with Trump's signature for about a quarter. LOL

 

[TerryP]