Americans - What the Government's Coronavirus Stimulus Plan Means for You

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Hardcorpse
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Americans - What the Government's Coronavirus Stimulus Plan Means for You

Post by Hardcorpse » Thu Mar 26, 2020 8:15 pm

Good article by financial guru Dave Ramsey:
https://www.daveramsey.com/blog/governm ... mulus-plan

Hang tough!

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GhostTankSniper
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Re: Americans - What the Government's Coronavirus Stimulus Plan Means for You

Post by GhostTankSniper » Fri Mar 27, 2020 1:18 am

Cool thanks!

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Rubicite
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Re: Americans - What the Government's Coronavirus Stimulus Plan Means for You

Post by Rubicite » Sat Mar 28, 2020 12:27 pm

A MAJOR element that he left out of his article is the Federal provision for unemployment insurance.

Example (each state is different so this example is for TEXAS only):

John Doe worked as a barrista at a local coffee shop. He averaged $600 per week (wages plus tips) for 2019. Recently, all employees were laid off when the coffee shop closed due to the pandemic.

Under Texas unemployment laws, John would be entitled to about $312 per week for up to six months. The just-passed CARES Act adds an ADDITIONAL $600 per week for four months. That means that John would receive a total of $912 per week for four months. THIS IS 50% MORE THAN HE MADE WHILE WORKING.

Hopefully, John will save the extra money for the potential lean times ahead.

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