MDDad
Master Eminence Grise
Posts: 6,816
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Post by MDDad on May 4, 2020 10:45:51 GMT -8
I was just wondering about something this weekend. It seems that Harvard, Stanford AutoNation and the L.A. Lakers got their government bailouts almost overnight, so I asked some friends how many of them knew even a single person who has received their $1,200 stimulus check. You know, the one that started going out by the tens of millions about three weeks. Not a single friend knew a single person who has received their check. Does anyone know WTF is going on? Is this another "see how much we're helping the poor average citizen" soundbite with crappy follow-through?
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davidsf
Master Eminence Grise
Posts: 5,252
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Post by davidsf on May 4, 2020 11:16:44 GMT -8
We got ours.
But not $1200.
The government is apparently parsing it out based on the 2019 Tax return (if already filed), and my former employer decided they would delay payment of my severance until January 3rd of 2019, so our income last year was much higher than usual. So we only got $421... which we gave to the church since we are effectively still receiving an income (social security and 401K) at this time.
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RSM789
Eminence Grise
Posts: 2,287
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Post by RSM789 on May 4, 2020 11:34:28 GMT -8
My wife & I got ours the 2nd day they were released (direct deposit), as did one of my sons. My daughters took a week longer because there was some error as to her address (she had moved) and my other son/wife/grandson took another week because they had both moved and had the child in 2019.
The bailout monies you described are the PPP program, designed to help small businesses carry employee costs for 8 weeks. It consists of a loan of 2.5 times your monthly payroll cost and is forgivable if used to retain employees or pay rent. I applied on the 3rd, online through the bank my business has accounts with and it funded two weeks later, just as the program ran out of money. It looks like I slid under the garage door as it was closing. The Lakers, Shake Shack, Harvard and the other large companies that got caught using this program returned the funds, but they never should have gotten them in the first place (that was the fault of the banks who lent them). The one set of companies that should be allowed to get them but may be scared off are the franchisees of fast food companies. McDonalds corporation is worth billions but someone like Fred Hill, a local McD franchise owner who has 3 stores (RSM, MV & Ladera) is the epitome of a small business owner.
There is also the EIDL program (Economic Injury Disaster Loan), the SBA program where you were supposed to get a $10,000 advance on a loan within 3 days just by submitting an application. Well, the 3 day vision went out the window immediately and the advance got lowered to $1000 per employee with a max of 10. This is more of a typical SBA loan, 3.75% interest rate on a maturity rate of up to 30 years. Since these are administered by the SBA, they have been proceeding at a snails pace, with applications taking over 3 weeks just to get looked at, much less approved.
Those companies should have applied for the SBA EIDL loans (Economic Injury Disaster Loan)
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thefrog
Eminence Grise
Posts: 1,819
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Post by thefrog on May 4, 2020 12:45:22 GMT -8
SO and I got ours
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SK80
Master Eminence Grise
Posts: 7,378
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Post by SK80 on May 4, 2020 13:37:16 GMT -8
I was just wondering about something this weekend. It seems that Harvard, Stanford AutoNation and the L.A. Lakers got their government bailouts almost overnight, so I asked some friends how many of them knew even a single person who has received their $1,200 stimulus check. You know, the one that started going out by the tens of millions about three weeks. Not a single friend knew a single person who has received their check. Does anyone know WTF is going on? Is this another "see how much we're helping the poor average citizen" soundbite with crappy follow-through? Sorry to hear about this MDDad/McDad ...... maybe the confusion between MD and McDonalds, a private and a corporate institution........ the IRS couldn't find a registered McDad with a tax number... On the other hand, both my elderly parents received theirs, they did however contribute most their life to the "public" schools...... maybe thats why! |
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duke
Statesman
Posts: 681
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Post by duke on May 4, 2020 14:06:03 GMT -8
My daughter received hers via Direct deposit immediately.
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Post by ProfessorFate on May 4, 2020 16:05:42 GMT -8
We got $2400 on April 14th via direct deposit.
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Credo
Master Eminence Grise
Posts: 6,242
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Post by Credo on May 4, 2020 19:10:40 GMT -8
My wife and I don't qualify, but I know some neighbors and friends who received checks.
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