Politics And Current Events

CBear3
Posts: 7666
Joined: Fri Mar 27, 2015 10:02 pm
Location: KC, MO

Politics And Current Events

Postby CBear3 » Thu Mar 26, 2020 12:50 pm

Thanks to the stimulus, all salaried workers at my company are getting a 25% pay cut, despite still working full time

Gaucho
Posts: 49584
Joined: Wed Mar 25, 2015 5:31 pm
Location: shootzepucklefraude

Politics And Current Events

Postby Gaucho » Thu Mar 26, 2020 12:51 pm

Image

robbiestoupe
Posts: 11556
Joined: Thu Apr 30, 2015 3:27 pm

Politics And Current Events

Postby robbiestoupe » Thu Mar 26, 2020 12:58 pm

Thanks to the stimulus, all salaried workers at my company are getting a 25% pay cut, despite still working full time
wait, what? 25% of full salary or just time off?

NAN
Posts: 11563
Joined: Wed Mar 25, 2015 6:26 pm
Location: shoeshine boy is a lady

Politics And Current Events

Postby NAN » Thu Mar 26, 2020 1:04 pm

Thanks to the stimulus, all salaried workers at my company are getting a 25% pay cut, despite still working full time
Just temporary until things can get back to "normal" correct?

This is just the reality of some situations. The stimulous is supposed to help, not be a cure all. Some businesses are just not pulling in any revenue or have a mass decrease in revenue.

Better than getting let go and losing your benefits, etc as well.

faftorial
Posts: 14820
Joined: Tue Nov 05, 2019 10:35 pm
Location: Lengeschder

Politics And Current Events

Postby faftorial » Thu Mar 26, 2020 1:12 pm

Thanks to the stimulus, all salaried workers at my company are getting a 25% pay cut, despite still working full time
:?:

dodint
Posts: 59160
Joined: Wed Mar 25, 2015 1:39 pm
Location: Cheer up, bіtch!
Contact:

Politics And Current Events

Postby dodint » Thu Mar 26, 2020 1:17 pm

Thanks to the stimulus, all salaried workers at my company are getting a 25% pay cut, despite still working full time
Yeah but you're still going to Runoffs right?

Only half joking.

tifosi77
Posts: 51514
Joined: Wed Mar 25, 2015 1:07 pm
Location: Batuu

Politics And Current Events

Postby tifosi77 » Thu Mar 26, 2020 1:39 pm

I know about a dozen folks who got laid off in the last week and outside of one person every one of them received assurances that they would be rehired when things settled down. All of them were told they were being laid off primarily so that they could file for unemployment.

I wonder how common that is?
I haven't seen a breakdown of the numbers for last week's claims, but I know this was a common practice in the hospitality industry. As soon as people started talking about shutting down restaurants/bars those businesses immediately began layoffs so their employees could file for UI bennies, to get a jump on the 1-week lag between filing and payment.

CBear3
Posts: 7666
Joined: Fri Mar 27, 2015 10:02 pm
Location: KC, MO

Politics And Current Events

Postby CBear3 » Thu Mar 26, 2020 1:43 pm

Still working full time, they’ll re-assess in a month. Problem with working for a large company (and one that’s been run into the ground at that). Our division is profitable but the company as a whole is not. Some plants in the company are shut down, ours is still full staffed and “essential.”

It’s now worth more to be unemployed and be on my wife’s insurance than work.

I think it’s no coincidence that the decision was made at the same time the stimulus is going to get passed. And it’s not the stimulus’s fault, there’s people that really need that money. But the powers that be sat around and waited until they knew the worker bees would get a check and then did it so they’re losses this quarter won’t look as bad.

Personally, I’m going to be fine. It won’t be a big deal. It’s just another example of the corporate squeeze.

And Runoffs are still on the table, depending on what the entry criteria is going to be with an abbreviated season.

dodint
Posts: 59160
Joined: Wed Mar 25, 2015 1:39 pm
Location: Cheer up, bіtch!
Contact:

Politics And Current Events

Postby dodint » Thu Mar 26, 2020 1:59 pm

Yeah, I'm curious to see what they do about criteria with 40% of the season likely going away, at least.

eddy
Posts: 22309
Joined: Thu Mar 26, 2015 9:49 am
Location: Emmet's barn loft

Politics And Current Events

Postby eddy » Thu Mar 26, 2020 3:02 pm

Thanks for paying my mortgage for the summer (I mean that)

Freddy Rumsen
Posts: 35313
Joined: Wed Mar 25, 2015 11:50 am
Location: "Order is the only possibility of rest." -- Wendell Berry

Politics And Current Events

Postby Freddy Rumsen » Thu Mar 26, 2020 3:04 pm

SEIU making a selling masks


faftorial
Posts: 14820
Joined: Tue Nov 05, 2019 10:35 pm
Location: Lengeschder

Politics And Current Events

Postby faftorial » Thu Mar 26, 2020 3:53 pm

SEIU making a selling masks

Are they profiteering?

Troy Loney
Posts: 27518
Joined: Wed Mar 25, 2015 3:03 pm

Politics And Current Events

Postby Troy Loney » Thu Mar 26, 2020 4:04 pm

https://www.nytimes.com/2020/03/26/busi ... mulus.html
Under the existing tax code, when real estate investors generate losses from gradually writing down the value of their properties, a process known as depreciation, they can use some of those losses to offset other taxes. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world.

But the use of those losses was limited by the 2017 tax-cut package. The losses could be used only to shelter the first $500,000 of a married couple’s nonbusiness income, such as capital gains from investments. Any leftover losses got rolled over to future years.

The new stimulus bill lifts that restriction for three years — this year, and two retroactive years — a boon for couples with more than $500,000 in annual capital gains or income from sources other than their business. That group comprises the top 1 percent of taxpayers, according to Internal Revenue Service data.

MrKennethTKangaroo
Posts: 12408
Joined: Sat Mar 28, 2015 3:50 pm

Politics And Current Events

Postby MrKennethTKangaroo » Thu Mar 26, 2020 4:29 pm

I give a cap tip to the NY Times for giving their best effort to make depreciation into some sort of tax boogeyman, but that article is pretty detached from reality.

dodint
Posts: 59160
Joined: Wed Mar 25, 2015 1:39 pm
Location: Cheer up, bіtch!
Contact:

Politics And Current Events

Postby dodint » Thu Mar 26, 2020 4:31 pm

SEIU making a selling masks

Are they profiteering?
They're a union, of course they are.

willeyeam
Posts: 39565
Joined: Wed Mar 25, 2015 12:49 pm
Location: hodgepodge of nothingness

Politics And Current Events

Postby willeyeam » Thu Mar 26, 2020 5:01 pm

I give a cap tip to the NY Times for giving their best effort to make depreciation into some sort of tax boogeyman, but that article is pretty detached from reality.
That article made me laugh.
The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world.
As if no one should ever recognize their initial purchase

MrKennethTKangaroo
Posts: 12408
Joined: Sat Mar 28, 2015 3:50 pm

Politics And Current Events

Postby MrKennethTKangaroo » Thu Mar 26, 2020 5:08 pm

or that you could offset capital gains with ordinary losses

or that you would want to offset capital gains with ordinary losses

or that you dont get effed in the a when you sell a heavily depreciated building (1031 exchanges not withstanding) and you have to pay tax at ordinary rates on all that depreciation

pens9192
Posts: 1009
Joined: Thu Mar 02, 2017 11:17 pm

Politics And Current Events

Postby pens9192 » Thu Mar 26, 2020 5:19 pm

Will a one time lump sum payment 3-4 weeks from now help someone or a family that has experienced lay offs? Whats the chance there is another stimulus package?

tifosi77
Posts: 51514
Joined: Wed Mar 25, 2015 1:07 pm
Location: Batuu

Politics And Current Events

Postby tifosi77 » Thu Mar 26, 2020 5:21 pm

The SEIU is not selling masks. They found a supplier.

Image

Specifically note the part where they state "The masks are $5 each, and the union has no financial interest in the transactions."

NAN
Posts: 11563
Joined: Wed Mar 25, 2015 6:26 pm
Location: shoeshine boy is a lady

Politics And Current Events

Postby NAN » Thu Mar 26, 2020 5:49 pm

I give a cap tip to the NY Times for giving their best effort to make depreciation into some sort of tax boogeyman, but that article is pretty detached from reality.
NY Times. Detached from reality. You don't say. :shock:

NAN
Posts: 11563
Joined: Wed Mar 25, 2015 6:26 pm
Location: shoeshine boy is a lady

Politics And Current Events

Postby NAN » Thu Mar 26, 2020 5:53 pm

Will a one time lump sum payment 3-4 weeks from now help someone or a family that has experienced lay offs? Whats the chance there is another stimulus package?
If that family is making less than $150K for the household I think it would provide some help assuming they are living within their means. It should help the ones that probably have no savings or much to rely on due to low income.

I've heard a few times the politicians talking about a second relief package if this continues.

Freddy Rumsen
Posts: 35313
Joined: Wed Mar 25, 2015 11:50 am
Location: "Order is the only possibility of rest." -- Wendell Berry

Politics And Current Events

Postby Freddy Rumsen » Thu Mar 26, 2020 7:01 pm

The SEIU is not selling masks. They found a supplier.

Image

Specifically note the part where they state "The masks are $5 each, and the union has no financial interest in the transactions."
"The union has no financial interest..." -- Jimmy Hoffa

faftorial
Posts: 14820
Joined: Tue Nov 05, 2019 10:35 pm
Location: Lengeschder

Politics And Current Events

Postby faftorial » Thu Mar 26, 2020 7:51 pm

Hard to argue with this:

BREAKING: Major cruise lines are out of stimulus package because they don’t locate in the U.S., industry group says

shoeshine boy
Posts: 4964
Joined: Wed Apr 22, 2015 4:53 pm

Politics And Current Events

Postby shoeshine boy » Thu Mar 26, 2020 8:03 pm

Hard to argue with this:

BREAKING: Major cruise lines are out of stimulus package because they don’t locate in the U.S., industry group says
they fly under flags of island nations to avoid US taxes. can't have it both ways.

count2infinity
Posts: 35613
Joined: Tue Mar 24, 2015 2:06 pm
Location: All things must pass. With six you get eggroll. No matter how thin you slice it, it's still baloney.
Contact:

Politics And Current Events

Postby count2infinity » Thu Mar 26, 2020 8:05 pm

They sail under another country's flag to not pay US taxes and then they don't get US bailout money...

Image

Who is online

Users browsing this forum: No registered users and 105 guests