The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

RANT Laid off will get $2,400 per month on top of 100% of wages - WTF?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Rivoli

Silver Contributor
FASTLANE INSIDER
Speedway Pass
Jun 4, 2018
308
542
239
Orange County, California
Not sure if anyone was watching this, but the stimulus bill the Senate just passed last night for the Coronavirus included a provision that unemployment filers will get their full pay PLUS $600 a WEEK.

Thats right. They will be making $2,400 a month PLUS unemployment. If you live in a federal min wage state, a full time unemployed min wage worker will be raking in $22 an hour or $3,500 a month, for 4 months.

 

Don't like ads? Remove them while supporting the forum. Subscribe.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
6,990
32,339
5,083
Scottsdale, AZ
Not sure if anyone was watching this, but the stimulus bill the Senate just passed last night for the Coronavirus included a provision that unemployment filers will get their full pay PLUS $600 a WEEK.

Thats right. They will be making $2,400 a month PLUS unemployment. If you live in a federal min wage state, a full time unemployed min wage worker will be raking in $22 an hour or $3,500 a month, for 4 months.

I think they mean full unemployment pay, which is not equal to their regular pay. Unemployment payments are a percentage of their previous salary.
 

1step

Gold Contributor
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Dec 4, 2012
1,007
2,191
581
Kentucky
Read it. $600 per week ONTOP of full unemployment pay
The point was “full unemployment” does not equal their “full pay.” “Full unemployment” equals 60-70% of their full pay approximately
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
6,990
32,339
5,083
Scottsdale, AZ
Read it. $600 per week ONTOP of full unemployment pay
Exactly. What is your definition of full unemployment pay.

19789999.jpg


Your weekly Unemployment Insurance Benefit Amount (WBA) is calculated on wages you earned from employers who paid Unemployment Tax to the State of Arizona. The WBA is 4% of the wages paid in the highest quarter of your base period. The current maximum WBA is $240.
 

100k

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Oct 20, 2012
1,247
1,615
516
Good. Spread the wealth a bit. With the wealth more equally distributed there will be less social problems in society (violent robberies, break-ins, lootings and such).

A shame giant corporations are getting bailouts when they don't need the money and have access to really great loan terms already.
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,567
3,953
879
50
DFW
Yep. Equal society = better societies.

Just look at Scandinavian nations like Norway, Sweden and Finland and compare it to poop holes likes South Africa, Mexico and America. No offence.

I only ever watched 5 minutes of the show and it was probably the best 5 minutes of the show, luckily it had this line in it.......

You're not from around here are ya boy? :wideyed: :rofl:
 

kelvinfernandezm

Some Profound Quote Goes Here
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 26, 2016
490
921
349
28
Fort Worth, Texas
Yep. Equal society = better societies.

Just look at Scandinavian nations like Norway, Sweden and Finland and compare it to poop holes likes South Africa, Mexico and America. No offence.
Wh
Yep. Equal society = better societies.

Just look at Scandinavian nations like Norway, Sweden and Finland and compare it to poop holes likes South Africa, Mexico and America. No offence.
Can you send me cash on PayPal please I really need it.
 

Kevin88660

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
782
708
285
Singapore
Yep. Equal society = better societies.

Just look at Scandinavian nations like Norway, Sweden and Finland and compare it to poop holes likes South Africa, Mexico and America. No offence.
Yes and no. I am somewhere in the middle on this opinion. Scandinavian countries have went through waves of deregulation and have a flexible labor market. People on the left like to talk abt their tax and redistribution without talking about their other areas of pro business policies.

It is hard to do business where everyone is broke. Most billionaire make billions through selling to the average man. When things get too bad there will be pressure from all wealth spectrum for reforms and redistribution.
 

Saavedra

Contributor
Aug 4, 2013
36
27
42
Jeez, 3.5K a month? Some people might not want to go back to work...
only when they feel inspired to do the work. which is the point in todays automation driven society. what do we want to work 40h week for. eveyone in this forum wants to work when they want it and how they want it,then recoil in anger when normal workers get to that goal without sacrificing years of their life in entrepreneurship. that is just big money brainwashing, forcing people to be in the job market by having heavily taxed and market skewed prices for basic commodities like housing.
 

Kid

Silver Contributor
Speedway Pass
Mar 1, 2016
756
625
278
Trump make himself look like hero - ok.
People are helped in crisis - ok.
Printing $2 trillion - not ok.*

*Question to more knowledgeable: do they print it or get it from somewhere else?
 
Last edited:

100k

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Oct 20, 2012
1,247
1,615
516
Yes and no. I am somewhere in the middle on this opinion. Scandinavian countries have went through waves of deregulation and have a flexible labor market. People on the left like to talk abt their tax and redistribution without talking about their other areas of pro business policies.

It is hard to do business where everyone is broke. Most billionaire make billions through selling to the average man. When things get too bad there will be pressure from all wealth spectrum for reforms and redistribution.
I'm not necessarily on the left. And I hear what you're saying, but those on the right should NOT support corporate bailouts if they are sooooo anti-government intervention and "socialism".

Otherwise save me the hypocrisy and let's bail out average joe that needs it more than the billion/million dollar corporations that go out of their way to not pay taxes.

Norway is subsidized by oil dude.
Sweden, Denmark, Finland aren't.

It doesn't take away anything from my point. The US has had a TON of oil, minerals and other natural resources.

Wh

Can you send me cash on PayPal please I really need it.
If you needed it, and you were paying me taxes - then as a tax paying citizen - you, along with every other tax paying citizen would have the option to vote for this legislation.

Why use taxpayers money bailout corporations and go to war, but not help out its citizens when they need it?!

I only ever watched 5 minutes of the show and it was probably the best 5 minutes of the show, luckily it had this line in it.......

You're not from around here are ya boy? :wideyed: :rofl:
Nope, I'm in UK. I have lived in Sweden and DK and visited a few other nations in EU and also America.
 

kelvinfernandezm

Some Profound Quote Goes Here
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 26, 2016
490
921
349
28
Fort Worth, Texas
I'm not necessarily on the left. And I hear what you're saying, but those on the right should NOT support corporate bailouts if they are sooooo anti-government intervention and "socialism".

Otherwise save me the hypocrisy and let's bail out average joe that needs it more than the billion/million dollar corporations that go out of their way to not pay taxes.
Do you have a loicense to post here?

Jokes aside. The reason the government does their best to bail out corporations is because the corporations are part of the national infrastructure and they provide jobs to thousands of people. Imagine a company like Boeing they have been struggling for years now for making faulty airplanes. Obviously there's a flaw somewhere that's causing this airplanes to fail so much. It's easier to find the flaw than to let the company sink. If you let Boeing go down many people will be laid off, it has to go through the legal system to change ownership and whatnot.

Regarding sharing the wealth how would you go about that? You can't share the wealth equally when the money you're producing is not equal to those that don't produce as much.

Also the average Joe is getting bailed out too. The USA government is sending everyone $1200.
 

MoneyDoc

Gold Contributor
FASTLANE INSIDER
Speedway Pass
Jun 24, 2014
975
2,138
570
26
Why use taxpayers money bailout corporations and go to war, but not help out its citizens when they need it?!
Because the majority of taxpayers income are coming from these corporations.
 

Kak

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jan 23, 2011
5,763
24,227
4,554
then as a tax paying citizen - you, along with every other tax paying citizen would have the option to vote for this legislation.
Too bad it isn't just the "taxpaying" citizens that are doing the voting.

Just because the majority of people vote for it doesn't make it not theft.

"Enough" of the people in Germany supported a genocidal psychopath once upon a time too. The holocaust was legal. It doesn't make it not murder.

31582
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:

PizzaOnTheRoof

1,000 Miles To Go
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
939
2,039
552
Texas
Because the majority of taxpayers income are coming from these corporations.
Correct. It’s much easier (and less expensive) to keep a Corp above water than pay the salaries of each employee, and then just lose the Corp anyway.
 

100k

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Oct 20, 2012
1,247
1,615
516
Regarding sharing the wealth how would you go about that? You can't share the wealth equally when the money you're producing is not equal to those that don't produce as much.
Free k-9 education, free college, free vocational/technical studies, free health care or HEAVILY subsidized health care.

I don't mean that people should get free money for doing nothing. But if you have safety nets and schooling is free to everyone, then society becomes more equal - you get out what you put in.

I'd also consider giving anyone that studied business (for 12 months) to be able to get a $10k grant to start a business.

I'd get rid of tax write offs for corporations - but set the business tax rate at like 10% or 15% for example... NO EXEMPTIONS, no write offs. And use the money that generated to fund those things. Also stop going to war and perhaps nationalize some of the resources in the land. Why should corporations be given land rights and mineral rights. Take a look at Appalachian mountains... they exploited those people, created an insane amount of wealth, then when they were done with them, the corporations left and all the locals were left with was lung cancer and poverty.

I think certain industries / sectors (like oil and minerals for example) should have 50% of the wealth owned by the government i.e the people - like Norway.

Though I DO LOVE capitalism. Not gonna lie :)
 

Kak

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jan 23, 2011
5,763
24,227
4,554
I'd get rid of tax write offs for corporations
This just shows a complete lack of economic literacy.

Let's take a thin margin business like a supermarket or Walmart for instance. Most seem to think that the average margins are less than 5% at these companies.

For every billion dollars that company sells they have 950 million dollars worth of expenses (AKA write offs)

If you made them pay 10 percent taxes with no write offs they would be paying $100 million in tax on that $50 million in income. A 200% tax on actual income.

You should know more about the world if you are going to act like you do. Equal is equal access to the marketplace, not equal results thereafter.
 

James Klymus

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 28, 2018
178
492
229
24
Chicago, Illinois
Free k-9 education, free college, free vocational/technical studies, free health care or HEAVILY subsidized health care.
I don't mean that people should get free money for doing nothing.
So we should give everyone free everything but money! But not money though! Thats where we draw the line.

Also:

Free tax payer funded k-9 education, free tax payer funded college, free tax payer funded vocational/technical studies, free tax payer funded health care or HEAVILY subsidized health care.
There fixed it for ya.

I really cant tell if this is a troll, but if it's not, I suggest you do your research on these topics. Because it sounds cute when politicians say it and every one cheers in the crowd, but 5 minutes of critical thought would lead you to the conclusion that money and funding has to come from somewhere, and the government isn't some benevolent entity that is selfless, they steal collect that money from you in the form of taxes to fund all this "free" shit.

The government doesn't give a F*ck about you. The government doesn't have your best interests in mind. Politicians only have their own interests in mind.


You can ignore the parts about corona virus, but the message about the Chinese vs the US healthcare system is still relevant.
 

JScott

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Speedway Pass
Aug 24, 2007
4,414
9,106
2,201
This just shows a complete lack of economic literacy.

Let's take a thin margin business like a supermarket or Walmart for instance. Most seem to think that the average margins are less than 5% at these companies.

For every billion dollars that company sells they have 950 million dollars worth of expenses (AKA write offs)

If you made them pay 10 percent taxes with no write offs they would be paying $100 million in tax on that $50 million in income. A 200% tax on actual income.

You should know more about the world if you are going to act like you do. Equal is equal access to the marketplace, not equal results thereafter.
That's actually not right either...

For every $1B that Walmart makes, about $760M is COGS. (Gross margins for Walmart are right about 24%.)

Of the remaining, $260M in gross profit, about $197M is expenses, and $63M is EBITDA. (Operating margins for Walmart are about 6.3%.)

So, assuming no expense write-offs and a 10% tax on gross profits, Walmart would pay about $26M in taxes, which would be about 41% of EBITDA.

That's a bit higher than the corporate tax rate prior to the 2017 Jobs Act (which was 35%), and about double what it is today, with the Jobs Act in place (now at 21%).
 

Azure

Perpetual Motion
I've Read UNSCRIPTED
Speedway Pass
Mar 12, 2016
427
785
299
28
The Nordic model has been working so well that they've all been slowly reforming away from it since the 1990s.
 

JScott

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Speedway Pass
Aug 24, 2007
4,414
9,106
2,201
The reason the government does their best to bail out corporations is because the corporations are part of the national infrastructure and they provide jobs to thousands of people. Imagine a company like Boeing they have been struggling for years now for making faulty airplanes. Obviously there's a flaw somewhere that's causing this airplanes to fail so much. It's easier to find the flaw than to let the company sink. If you let Boeing go down many people will be laid off, it has to go through the legal system to change ownership and whatnot.
But, that's not the way capitalism works...

In a capitalist structure, if Boeing can't figure out how to stay solvent, the government lets them fail, the company sells off its assets to recoup as much as it can for shareholders, another person/company comes in and pays market value for those assets (potentially pennies on the dollar) and does their best to structure the company in a way that it *can* be profitable.

If they fail, that process repeats. And it continues to repeat until someone has the ability to run the company profitably, or until everyone realizes that the company can't be run profitably, and no one is willing to try any longer. Which will typically only happen if the demand for the company's product doesn't warrant the cost designing, manufacturing and selling their product/service.

Sadly, we don't have capitalism in the US -- we have crony capitalism. That's a structure where if a company fails, but has the ability to benefit those in government who can bail it out, it will be bailed out. And it will continue to be bailed out for as long as the company can provide personal value to those bailing it out.
 
Last edited:

GPM

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 25, 2012
706
3,045
775
Canada
You all forget the power of the printing press (aka some guy on a computer hitting buttons, who needs ink!). They can just print all the money they need to get through this and then worry about the currency later.

Also taxation IS theft. If you think we need taxes or not is beside the point. It is straight theft of your money, backed up by armed forces and threat of confinement.
 

kelvinfernandezm

Some Profound Quote Goes Here
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 26, 2016
490
921
349
28
Fort Worth, Texas
But, that's not the way capitalism works...

In a capitalist structure, if Boeing can't figure out how to stay solvent, the government lets them fail, the company sells off its assets to recoup as much as it can for shareholders, another person/company comes in and pays market value for those assets (potentially pennies on the dollar) and does their best to structure the company in a way that it *can* be profitable.

If they fail, that process repeats. And it continues to repeat until someone has the ability to run the company profitably, or until everyone realizes that the company can't be run profitably, and no one is willing to try any longer. Which will typically only happen if the demand for the company's product doesn't warrant the cost designing, manufacturing and selling.

Sadly, we don't have capitalism in the US -- we have crony capitalism. That's a structure where if a company fails, but has the ability to benefit those in government who can bail it out, it will be bailed out. And it will continue to be bailed out for as long as the company can provide personal value to those bailing it out.
When you're dealing with mega corporations like Boeing they are so intertwined with the government that it's almost a government agency. They've been making military airplanes and even the presidential airplane for ever. I highly doubt the US government wants to let them fall and have to update all the paper work, regulations, red tape and bureaucracy of a new entity. People worry so much about what is capitalist, communist or socialist. Yet the government doesn't really care. As long as they keep the money coming in for the Federal Reserve they don't care what system they use.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Advanced Upwork Proposals II IS FINALLY LIVE! Here's a look at what's inside: Improved YOU...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Here is where you eliminate uncertainty from the future! I wanted to post this image as I...
  • Sticky
MARKETPLACE KAK’s “Kill Bigger” Incubation Program- With DAILY personal attention.
Hey Guys! I wanted to give a quick update on what this program has become. In its infancy, we...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock