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In reply to the discussion: Rs want to pay 70% of earnings for unemployed. Did they think this through? [View all]Mike 03
(16,616 posts)30. I'm not arguing with your point, just trying to figure this out.
Some things to keep in mind:
The very high wage earners you're talking about also get huge bonuses, and have a much easier time obtaining loans than medium or low income workers. It's not fair, but such employees have an easier time accessing capital in general.
They are likely to have a high net worth overall, separate from their annual salary.
They are more likely to have equity holdings they can liquidate for cash should the necessity arise.
This is one reason that people earning over a certain amount of money didn't receive stimulus checks. Having more money does make a difference because assuming you're sensible and prudent, you have a cushion.
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Rs want to pay 70% of earnings for unemployed. Did they think this through? [View all]
stopbush
Jul 2020
OP
Mnuchin says GOP plan for unemployment extension will be based on '70% wage replacement'
MrsCoffee
Jul 2020
#4
Could there be a cap, like there was a ceiling for people to receive stimulus checks? nt
Mike 03
Jul 2020
#5
But should any level of earner be made to suffer due to tRump's massive fuck up?
stopbush
Jul 2020
#32
I agree that this might not be what they intended. But it is a more equitable solution
Buckeyeblue
Jul 2020
#7
Yes it is. The biggest thing is to get Bill's paid and to get money flowing to businesses.
Buckeyeblue
Jul 2020
#20
We're in the same boat. My CA weekly benefit is only $167 as I filed off a 1099.
stopbush
Jul 2020
#13
By several accounts it will take states 6-20 weeks to figure, program, and distribute at 70%
underpants
Jul 2020
#17