This is quite a good package. Time is of the essence and the assistance should not be delayed by any more GOP hold-ups.
71% of Americans will qualify for the full amount of the checks. Another 17% will get a partial payment.
The fact 71% of the country falls into the categories of individuals earning up to $50,000, heads of household earning up to $75,000, and married couples earning up to $100,000 reminds you of the level of income inequality in this country.
The $15 mininum wage can be passed permanently through Congress as both Senator Sanders and Speaker Pelosi recommended.
And I don't really care if this money "helps the economy" or not. Keeping people afloat and giving them a cushion against the short-term future is just as important as helping businesses.
And as an aside, this is the first of many planned actions to help Americans financially - the beginning not the end.
Senate Lawmakers Back Biden’s Stimulus but Reject Minimum Wage Increase https://nyti.ms/3q2FM9u
@TonyStark if people have stable income then it does help the economy as people spend, or have the ability to save, pay rent / mortgages / bills etc.
So everyone should benefit
I guess min wages do depend on income of the business which is lower due to the pandemic, while increasing the minimum wage is a good thing if it ends up putting a business, out of business that may not help anyone.
@TonyStark Ah good point, i wasn't sure if the current situation could be a problem.
@zleap
Every time in the history of the U.S. that increases in the minimum wage have been proposed, the argument is offered that it will hurt small businesses. This has never happened. Small businesses are service businesses and will continue to be essential.
Corporate profits, on the other hand, are at an all-time high and the US possess extreme levels of income inequality.
Putting more money into the hands of the people who spend it and reducing income inequality does nothing but help all people.