Re:Millions of credit-card customers can’t pay their bills
by jorblumesea on Saturday April 25, 2020 @02:54PM
(#22980354)
By a European definition, we definitely do not have a "good social safety net". You would be shocked at how inadequate the US system is compared to a "real" social safety net. You can even see this in the COVID crisis where European countries are paying 60-80% of salaries, whereas in the US you get a one time check of $1200. Maybe 1-2 months worth of expenses, and that's being generous. A good example of the different mindsets and standards.
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Re:Millions of credit-card customers can’t pay their bills
by maxerickson on Saturday April 25, 2020 @03:03PM
(#22980442)
There's federal unemployment assistance of $600 a week in the US.
https://www.nytimes.com/interactive/2020/04/23/business/econ...
The $1200 is a 'stimulus' payment going to everyone.
Paying businesses to keep people on payroll may have been a better policy (as the disruption gets longer that changes).
Re:Millions of credit-card customers can’t pay their bills
by Smithalicious on Saturday April 25, 2020 @04:55PM
(#22981411)
Christ, $600 per week is insane. That's more than twice what I have as a student living in the Netherlands.
Re:Millions of credit-card customers can’t pay their bills
by RhysU on Saturday April 25, 2020 @05:15PM
(#22981566)
$1200 is not going to everyone. Some get $0.
Re:Millions of credit-card customers can’t pay their bills
by maxerickson on Saturday April 25, 2020 @05:25PM
(#22981651)
Yes true, I forgot that there's an income taper.
Seems the payment starts decreasing for people earning something like the 70th percentile?
(It's hard to figure because it differs for filing status)
Re:Millions of credit-card customers can’t pay their bills
by jorblumesea on Saturday April 25, 2020 @03:08PM
(#22980492)
Good point, thanks for correcting me.