How To Get Paid Not To Work By The Federal Government

The stimulus check of 1200 plus the extra 600 a week for people that are unemployed, is basically giving them more money than they actually make.

How to get paid not to work by the Fed Government
Segway:
1. What’s Happening
– Fed is giving an additional $600 for unemployment benefits
– The average person on unemployment is getting
Remember:

Example: My uncle right now is making double the money he usually makes, without having to work 160 hours a month. He works at a trucking business, and he fills up the trucks and the business is down right now so they laid off almost the entire workforce. He also has 2 daughters and a wife.
– $600 Fed – biweekly (1200)
– $400 weekly – bi-weekly $800
( 2000 bi-weekly or $4000)
Normal Job:
40 hours of work
Average salary: $1000
– Overtime
– 80 hours
– After-tax $1000
Tip: At the end of the Day: its cool to make extra money, but he still wants to go back to work. (it’s like a prison with a nice salary)

But that’s not All: People that getting mad because, their employers, is signing up for PPP loan. ( and although I’m sure some business want to get that money, well those applications keep running out of money)

2. The Problem with this
– Most people here a few stories like my uncles and they go crazy
– No, they should not be getting all that money
– Give It to me

Here the Facts:
– The average person makes around 56k annually ( after-tax, 43k) or $3,583
– Unemployment benefits for that person would be ( maxed at 504 in New York, and with that salary, you should get $539 but they don’t do that)
– Meaning you make $2,016 bucks instead of your regular $3,583

However:
– With help of the stimulus you get an extra $2,400 bucks + the benefits of $2,016, is around $4,416 altogether ( and extra $1000 almost and not to mention the extra 1200 from the stimulus )
– In all honesty its a lot of money just to stay home
– But on the other hand, imagine how much money this one-time payout is going to save American in the long run

3. Taxes
– The healthier the country is after this and the faster it bounces back safely the faster that money can be paid back
– American is the wealthiest country on the planet
– And brings in around 3.18 trillion dollars from income taxes and payroll, not including corporate tax, sales tax, and tax shipments.

Short term:
– Wow big problem so much money being spent and the entire country is closed
– Long term so many people are still alive and the country bounce back
– That’s the idea.

So:
– If you’re getting extra money to stay home ( take and build a 6 months emergency fund, once that’s done start investing )
– And for the people that this still doesn’t cover all of your cost, it might be time to rethink your financial plan, and add extra streams of income and also remove some expenses you don’t need.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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