Corona Virus #6

[ruffdog]

NPR - "The $2.2 trillion coronavirus relief package marks the largest rescue package in American history. President Trump announced Wednesday that it includes $300 million in direct payments to individuals."

$300 million to individuals. The other 'half' , $2.199 trillion of government handouts is going to ... whom?

These people don't have much money compared to what we are printing for "stimulus."

"The 25 wealthiest dynasties on the planet control $1.4 trillion"

 

[rekees4300]

Based on what I can find out I will be receiving the standard payment. My question is, "Why?"

To prevent the collapse of the U.S. economy.

 

[rswyan]

That was in reference to post #1178
actually just the last line

Richard was basically agreeing with you ... only with more emphasis !

:laughing:

 

[SPYDERLK]

I agree with you on pretty much all you said. I have two clients we build for on hold, one on a let's see what happens, and another is a major healthcare provider so we are safe there. But, this is ridiculous in my opinion, to scare everyone into an apocalyptic cave and not give them a ray of hope. I told a client today, if it comes down to loosing everything I own or taking my chances with the virus, well... bring on the virus, I'm game. This isn't the movies where the virus turns you into a Zombie instantly; yes, we may have a few thousand people die from this, but no one seems to care how many hundreds of thousands die from alcoholism, drug addiction, smoking, or car accidents. Let's get a grip on this before we scare ourselves into oblivion...

I care but would not think of comparing them to highly communicable disease. We personally have inherent control in the former.

 

[California]

To prevent the collapse of the U.S. economy.

Exactly. Getting spending money out to near everyone, nearly all of whom will spend it soon, is an excellent measure to get the economy going again.

Asking for a friend - Is that $150k income limit the point where subsidies cease or the point where the full amount starts to decline?

 

[rswyan]

The USA just moved into the #2 slot of cases and in a few hours will become the #COVID19 epicenter
@Worldometers

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And there it is. Minutes, not hours. And rising fast. Over 100,000 by end of tomorrow

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[rswyan]

The March 26th outlook
1. The US death curve, like Spain and Italy's, is outpacing that of China's. Ominous, to say the least.
2. New York's death curve flattened some since yesterday but still the worst slope region in the world.
from @FT's @jburnmurdoch and great graphic team

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[rekees4300]

Exactly. Getting spending money out to near everyone, nearly all of whom will spend it soon, is an excellent measure to get the economy going again.

Asking for a friend - Is that $150k income limit the point where subsidies cease or the point where the full amount starts to decline?

"Rebates phase out at a 5% rate above adjusted gross incomes of $75,000 (single)/ $122,500 (head of household)/ $150,000 (joint). There is no income floor or phase-in all recipients will receive the same amounts, provided they are under the phaseout threshold" Section 2201 COVID 3 -- UI and Tax Title Summary | Unemployment Benefits | Tax Refund

It seems to be where the full amount starts to decline. So for a joint return the reduction would be 5% of adjusted gross income over $150,000. For example, if AGI is $160,000 then the reduction would be .05 X $10,000 = $500 So subsidy would be $2,400 - $500 = $1,900.

 

[newbury]

I've wondered when is it worth putting the economy at risk by shutting everything down? That is, how many lives can be written off as just bad luck/wrong place, wrong time? Certainly people die every day for many reasons, and while we try to minimize risk, we don't ban automobile traffic because people die in cars.

I don't know the answer, and would love to hear others perspective on this.

So far, this is what I've come up with. It becomes a problem when it is a significant portion of the daily deaths that would occur otherwise.

However, even that has to be clarified based on region, as hotspots crop up. I looked up NY State mortality statistics and was surprised to find, on average, 404 people die a day. It's been consistent for years.

NY is now having about 150 (I'm not sure of the exact number) deaths per day from COVID-19, and it is continuing to climb. That is problematic for me, and points to a significant crises on the horizon.

Maybe some other areas will get away with fewer mortalities, but I worry that while they appear to be in the clear, that situation will change dramatically in the next few weeks.

Good point - How much has the death rate increased over normal?

I was asked to repost this over here. And is more of a wake up call for the folks that aren't taking this seriously or not worried because it isn't in there area

My wife knows over 40 people that have covid 19 here. That number will probably increase once they finish testing the facility. The nursing facility she used to work at got hit hard. My wife's last day was on a friday. One of the residents had some family come in from florida over the weekend and that's where they figured the infection came from. But to be honest, they really have no idea how it came into the facility. Before it was discovered, the virus went through the facility like a tornado through a trailer park

When the patient tested positive, it was 12 days after my wife had left the facility. Thankfully my wife wasn't infected since she had transferred to another nursing facility.

isn't in there area

can be a very wide area because we are such a mobile culture.
For example Florida is a far piece from the location you show.
Driving from the center of Florida to vilonia, arkansas draws a line directly across my area (near Tupelo, MS). So if they pumped gas in Tupelo they could easily have been spreading it in my area.
Think Typhoid Mary. Think of all the "Mard Gras partiers" and "spring breakers" as asymptomatic carriers.

Protect yourself, stay cool and spaced out.

 

[rswyan]

A curve on its way to millions of confirmed #COVID19 cases, no less those missed. An ignominious day in United States history

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