Coronavirus Stimulus Aid Package

[aygart]

Cut it out. The American Charedim have never been is such great financial shape as they were/are in since Covid began. Unemployment to the masses, EIDL's, PPP X 2, Stimmies X 3, the list goes on. Maybe those at the top got more, but boy did we have a trickle down. Ask the guys who deal in silver, jewelry, and watches, and talk to any leasing guy and resi RE broker and the million mortgage officers that popped up like mushrooms after the rain. Don't cancel Kimcha D'Pischa, there are families who can use a few $K extra now, but everyone's the better for Covid.

The bigger concern may be what happens with all of those who made long-term commitments based on the temporary changes from COVID (such as the resi RE broker and the million mortgage officers) and who made lifestyle changes (such as silver, jewelry, and watches, and talk to any leasing guy) that may not be sustainable when things go back to normal. Another question is what happens with all of those who it trickled down to when that ends.

[Kobe Bryant]

Cut it out. The American Charedim have never been is such great financial shape as they were/are in since Covid began. Unemployment to the masses, EIDL's, PPP X 2, Stimmies X 3, rent relief, retail grants, 2% refi's, soaring stock market, the list goes on. Maybe those at the top got more, but boy did we have a trickle down. Ask the guys who deal in silver, jewelry, and watches, and talk to any leasing guy and resi RE broker and the million mortgage officers that popped up like mushrooms after the rain. Don't cancel Kimcha D'Pischa, there are families who can use a few $K extra now, but everyone's the better for Covid economic relief, which sort of went overboard. Hashem should only help we keep the momentum into the back-to-normal.

-1

[Moshe123]

Cut it out. The American Charedim have never been is such great financial shape as they were/are in since Covid began. Unemployment to the masses, EIDL's, PPP X 2, Stimmies X 3, rent relief, retail grants, 2% refi's, soaring stock market, the list goes on. Maybe those at the top got more, but boy did we have a trickle down. Ask the guys who deal in silver, jewelry, and watches, and talk to any leasing guy and resi RE broker and the million mortgage officers that popped up like mushrooms after the rain. Don't cancel Kimcha D'Pischa, there are families who can use a few $K extra now, but everyone's the better for Covid economic relief, which sort of went overboard. Hashem should only help we keep the momentum into the back-to-normal.

The amcha is better off.

[Euclid]

The bigger concern may be what happens with all of those who made long-term commitments based on the temporary changes from COVID (such as the resi RE broker and the million mortgage officers) and who made lifestyle changes (such as silver, jewelry, and watches, and talk to any leasing guy) that may not be sustainable when things go back to normal. Another question is what happens with all of those who it trickled down to when that ends.

And all those whom gave up a career to remain on unemployment for the past year plus (and foreseeable future).

[aygart]

And all those whom gave up a career to remain on unemployment for the past year plus (and foreseeable future).

It is not so simple to raise tzedaka money for such a situation.

[Moshe123]

All these discussions are why the stimulus is so stupid.
I mean, give all the money you want, but why should people have now more much money than pre covid?

[YesThatsMe]

And all those whom gave up a career to remain on unemployment for the past year plus (and foreseeable future).

In the Ezras Nashim, I know of over 15 ladies in my neighborhood who rather stayed on unemployment (which ranged between $530-$1,300 a week for the last year) then go back to their $28 an hour part time jobs, and get to be full time mothers. It's them I feel bad for once the dust settles, not the Bochurim in BMG and Mir who suddenly turned in expensive alcoholics and screech Caddies down Geulah...

[S209]

All these discussions are why the stimulus is so stupid.
I mean, give all the money you want, but why should people have now more much money than pre covid?

If* it doesn’t damage the economy or the country, why not? It’s always better for more people to have more money than less.


*I think it will.

[aygart]

In the Ezras Nashim, I know of over 15 ladies in my neighborhood who rather stayed on unemployment (which ranged between $530-$1,300 a week for the last year) then go back to their $28 an hour part time jobs, and get to be full time mothers.

This has also tightened the employment market. Some businesses have told employees that once they are replaced they are unlikely to get their jobs back. Some took that seriously some not.

[aygart]

If* it doesn’t damage the economy or the country, why not? It’s always better for more people to have more money than less.


*I think it will.

How will the guy pay his mortgage that he committed to based on a temporary influx?

[Kobe Bryant]

If* it doesn’t damage the economy or the country, why not? It’s always better for more people to have more money than less.


*I think it will.

It’s scary how with a few handouts so many in this country are embracing socialism.

[S209]

How will the guy pay his mortgage that he committed to based on a temporary influx?

I don’t know or care. That’s for people to decide for themselves. Do we not trust people to handle their own finances?

It’s scary how with a few handouts so many in this country are embracing socialism.

Did you see the second part of my post? It’s scary how with no downside some would still prefer people not have their lives improved for the sake of “cApiTAlism”.

[dasmo801]

How will the guy pay his mortgage that he committed to based on a temporary influx?

The 2022 PCMRA (Post Covid Mortgage Relief Act)

[carrentals]

@crg Will the 10,200 unemployment that is not taxable be counted as income for the EITC?

Does anyone know the answer to this?

[S209]

Does anyone know the answer to this?

Does taxable UI count towards the EITC?

[shapsam]

Cut it out. The American Charedim have never been is such great financial shape as they were/are in since Covid began. Unemployment to the masses, EIDL's, PPP X 2, Stimmies X 3, rent relief, retail grants, 2% refi's, soaring stock market, the list goes on. Maybe those at the top got more, but boy did we have a trickle down. Ask the guys who deal in silver, jewelry, and watches, and talk to any leasing guy and resi RE broker and the million mortgage officers that popped up like mushrooms after the rain. Don't cancel Kimcha D'Pischa, there are families who can use a few $K extra now, but everyone's the better for Covid economic relief, which sort of went overboard. Hashem should only help we keep the momentum into the back-to-normal.

-100,000
I personally know people that were making pretty decent parnassah (180-300k) pre covid and they either lost their job or their business went down the drain, and now all their income is unemployment, stimulus and PPP/EIDL. They are really struggling.

[simple26]

Does taxable UI count towards the EITC?

Towards the credit no towards the agi yes

[simple26]

Does anyone know the answer to this?

You gotto get cgr name right maybe you’ll get an answer

[cgr]

@crg Will the 10,200 unemployment that is not taxable be counted as income for the EITC?

I'm looking for the text of the amendment. So far I was only able to find the one that was introduced before Manchin threw a fit.

In the original amendment it wasn't going to be income at all- not just non-taxable income (so instead of being a $10,200 UI deduction, it wasn't going to count towards AGI at all). The final amendment is different because it has a $150k cap- not sure what else was changed. If anyone has the text, kindly post.

[YitzyS]

What happens when all those who raked in tens of thousands of dollars last year from Unemployment try to renew their Jersey Care and have to send it tax returns that are way over the limit, even after the $10,200 reduction?

Will they get kicked off Jersey Care? Or will they be able to prove that their current income (in the future) is below the limit?

Not nogaya for me, just wondering overall.