"Full summary of what the unemployed and low income workers get.
Family of four: $5600+$3,400 from CARES Act+$2400 from December bill. Total cash $11,400.Then they get $300 a week x 4=$1200 per month for each parent through September which will get extended to December =$21,600 (9 months) for both together.Plus average state unemployment another $300 a week each = another $21,600 by December.Child care credit $7,200 each child under 6- $6,000 over 6. Let’s say $13,200.Dependent care child care tax credit $4000 per kid if the parents are working, so 2 kids $8000 tax CREDIT, not deduction.
If on Obamacare, zero premium payments if unemployed. 15% added value to food stamps. $27 billion to give to people who have not paid their rent and utilities. On top of $25 billion in December for the same use. And cancellation of at least $10,000 student loan.
So $11,400 + $21,600 + $21,600 + $13,200 = $67,800. Plus 2 kids $8000 kid tax credit, plus rent subsidy paid, plus utilities bills paid, plus free medical insurance plus food stamps.
So $11,400 + $21,600 + $21,600 + $13,200 = $67,800. Plus 2 kids $8000 kid tax credit, plus rent subsidy paid, plus utilities bills paid, plus free medical insurance plus food stamps.
And they expect these people to go seek a job? Don’t you feel great supporting all those lazy people. And they will try to make these credits and subsidies permanent. You wonder why the Democrats win elections in poor counties and cities.
These numbers come from the Wall Street Journal."
Investment letter
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