Tag: coronavirus relief
#EndorseThis: Trevor Noah Burns 'Bitch' Johnson Over (Failed) Stall Of Relief Bill

#EndorseThis: Trevor Noah Burns 'Bitch' Johnson Over (Failed) Stall Of Relief Bill

Americans are one step closer to getting much-needed pandemic relief-- no thanks to Republicans. In fact, one not only didn't vote for the bill but he also delayed it as long as he could.

That's right, Sen. Ron Johnson (R-WI) took his pettiness to a new level, forcing Senate clerks to read all 628 pages of the $1.9 trillion Covid-19 relief package.

Needless to say, this maneuver irritated people, especially Trevor Noah, who ripped the Republican "bitch" during his show last night. Even more hilarious is that Johnson's effort did nothing to delay the bill -- because Democratic senators outwitted him on the floor this morning and cut off debate while he was still asleep.

This won't be the last roasting of Johnson, whose seat is up next year. Enjoy!


Ev

Rising Income Data Looks Good, But Hides A Grimmer Truth

Rising Income Data Looks Good, But Hides A Grimmer Truth

Reprinted with permission from DC Report

We have stunningly good news today: Wages in 2020 grew at by far the fastest rate in the last 45 years.

The bad news: It's a statistical anomaly caused by Donald Trump's lethal mishandling of the coronavirus pandemic. The scourge wiped out almost eight million jobs held by lower-paid workers and only two million better-paying jobs.

The worse news: Two Republican senators who publicly profess their Christian faith to win over voters want to oppress millions of people trapped in poverty. With straight faces, they call their plan the Higher Wages for American Workers Act.

The good news starts out this way—in 2020, average wages grew a stunningly robust 7.2% over the previous year.

That's by far the greatest one-year growth in wages in the past 45 years. In fact, it's 80% more than the fastest previous year's wage growth, analysis of Census data shows.

Typical Pay

The better measurement, however, is the median wage. It indicates what the typical worker makes. The median marks the halfway point in wages with half of workers making more, half less. The median wage grew 6.9 percent, as a new report by the Economic Policy Institute shows.

EPI is a nonprofit research organization that advocates for poorly paid workers and regularly issues The State of Working America report with lots of interactive graphics. I've checked its work and always find it rock solid.

EPI's latest by Elise Gould and Jori Kandra is available here.

The obvious question is how could wages skyrocket during a pandemic that created the worst joblessness since the Great Depression? How could wages rise at all since by the end of May more than 42 million Americans, a quarter of those with any paid labor, had filed for jobless benefits?

Just beneath the surface, we find a compelling and distorting fact: More than 80% of the 9.6 million jobs that disappeared in the pandemic paid in the bottom quarter of wages. Wipe out those jobs and the statistics on wages show an increase. What's surprising is that the increase is only about 7%.

America's low-paid jobs are disproportionately held by women, especially those with children and little education, and by minorities. In real terms, these groups have been losing ground for years even as the economy keeps growing.

But by killing their jobs, at least until the pandemic is over and recovery is complete, the data in wages paid were distorted by the fact that most of those who are out of work were in the bottom half of the pay ladder.

Forgotten Americans Forgotten

What was it that Trump promised The Forgotten Men and Women? Oh yes, "The forgotten men and women of our country will be forgotten no longer." Well, he forgot about them and in addition to a real jobless rate of about 10% plus more than a half-million Americans needlessly dead. Had Trump followed sound public health advice, as we saw South Korea do, the coronavirus butcher's bill would be only about 10,000 dead Americans.

So how to alleviate the misery of America's working poor?

Senators Mitt Romney (R-Utah) and Tom Cotton (R-Ark.) say they are coming to the rescue. In a display of chutzpah and cluelessness that is extraordinary even for rich white men in high government positions, they call their bill the Higher Wages for American Workers Act.

Their bill's provisions are at odds with their professed devotion to a religion that imposes as a core duty alleviating the suffering of the poor. Cotton is a Methodist. Romney belongs to the Church of Jesus Christ of Latter-day Saints.

Cotton and Romney say the Biden administration plan for a $15 minimum wage in 2025 is way too much money. They propose a minimum wage of $10 an hour in 2025.

How much higher would real wages rise under the Cotton-Romney plan?

$12 A Week

Given the expected rate of inflation, that $10 an hour in 2025 would mean about 30-cents more in real pay than the current federal minimum of $7.25 an hour. That's $12 a week more for a full-time week. The current minimum wage has been in place since 2009 under legislation signed by President George W. Bush. Inflation since 2009 has shaved roughly a buck off each hour's minimum wage.

Measured back to President George W. Bush, the Cotton-Romney plan leaves workers worse off in 2025 than in 2009.

Now watch the news and see if the record rise in median and average wages is reported. Where it is, pay close attention—especially in reports by Fox News and its like—whether they say the increase is a statistical anomaly or proclaim a miracle wrought by Trump.

Having read this at least you won't be fooled.

West Virginia’s GOP Governor Urges Passage Of Biden's Covid-19 Relief Bill

West Virginia’s GOP Governor Urges Passage Of Biden's Covid-19 Relief Bill

Reprinted with permission from American Independent

West Virginia's Republican Gov. Jim Justice on Monday endorsed a large economic stimulus bill, arguing that federal lawmakers have "got to move" on legislation.

In an interview with CNN host Poppy Harlow, Justice said he sided with approving Biden's package over waiting for a "bipartisan bill" with less money, saying GOP efforts to trim down the bill were ill-timed.

"What we need to do is we need to understand that trying to be, per se, fiscally responsible at this point in time, with what we've got going on in this country ... if we actually throw away some money right now, so what?" Justice said.

"We have really got to move and get people taken care of," Justice said, saying he wants to work with the Biden administration on legislation.

President Joe Biden has proposed a $1.9 trillion COVID relief package. Recent polling has shown strong bipartisan support — as high as 82 percent — for relief, which includes more help for small businesses and stimulus checks.

Congressional Republicans have been trying to significantly curtail the size of the relief bill. The Republican proposal would cut three months' worth of unemployment insurance from the Biden proposal and remove $400 per person in direct payments while considerably shrinking the number of households that would receive help.

In the interview, Justice cited "struggling" people in his state, noting that many cannot pay their electricity bills because "they've got laid off because this pandemic swept their job away from them."

Justice's comments echo those of President Joe Biden, who said on Friday, "We have learned from past crises the risk is not doing too much, the risk is not doing enough."

Justice governs an overwhelmingly Republican state that went 68 to 29 percent for Donald Trump in the 2020 presidential election. He is a conservative who received Trump's endorsement in his 2020 race and supported his reelection.

From the Feb. 1 edition of CNN's "Newsroom":

POPPY HARLOW, CNN: Economic relief is critical for Americans right now, it's critical to your folks in West Virginia. You have been clear about your desire to support President Biden, to work across the aisle.
When it comes to this COVID relief bill, I wonder what is more important to the people of West Virginia and to you: that Biden's $1.9 trillion-dollar bill passes, even if it's without Republican support and through reconciliation, which would mean bigger checks to your folks in need, or that it's a bipartisan agreement even if it's less money?
JIM JUSTICE: Well, first and foremost I wish we'd all come together, and that's not blowing smoke, that's just – because I don't do that.
But, the other flip side of it is this, is, Poppy, we've got a lot of people in West Virginia that are still struggling with paying their power bill, because they've got laid off because this pandemic just swept their job away from them.
HARLOW: Right, so which one is it?
JUSTICE: I mean, at the end of the day, really and truly, Poppy, what we need to do is we need to understand that trying to be, per se, fiscally responsible at this point in time, with what we've got going on in this country, if we actually throw away some money right now, so what?
We have really got to move and get people taken care of, and get people back on balance, and I want to work with the Biden administration just like I worked with the Trump administration and I want us to move forward.
HARLOW: That's really significant, to hear from a Republican like yourself in a state where your Democratic senator, Joe Manchin, thinks these payments are not targeted enough. Have you talked to him about it?
JUSTICE: Well, you know, I have not talked directly to Joe about that and everything. I don't really know exactly what the thinking could possibly be there. I mean, we've got people that are really hurting. I mean, that's just all there is to it and on top of that — here's a perfect example, Poppy. My executive assistant came in the other day, and said not far from my home there was an elderly man that froze to death in his house and everything. Probably couldn't afford to pay the power bill.
There's so many different things where people are really, really hurting and today we've got to move, we can't hold back — we've got to move.

Published with permission of The American Independent Foundation.

What Is Happening to My Tax Return This Year?

What Is Happening to My Tax Return This Year?

This tax season is already proving to be different from previous tax seasons due to a recent announcement from the IRS. The announcement detailed a new start date for the 2021 tax season, which would traditionally be expected to begin in late January. Instead, the 2021 tax season is expected to begin on February 12; though this might initially be surprising to some, it will occur with good reason.

Traditionally, the beginning of the American tax season signifies the time at which the IRS will begin accepting and processing tax returns from the previous year. The reason why this is important for Americans is that tax refunds cannot be issued until tax returns are submitted. Tax refunds can be the form of cash that many Americans rely upon in order to fill certain financial gaps, and lots of people are reliant upon them. They're especially reliant upon them in tough economic times. COVID-19 has presented an unprecedented financial crisis for Americans, and therefore the contributions coming from tax refunds are more important now than ever before.

But there is a reason for this delay. The IRS is not only responsible for processing income tax returns. They have also been responsible for processing and issuing the stimulus checks that so many Americans have needed in order to survive. The second round of stimulus checks are still being processed right now, and President Biden has indicated that he wishes to issue a third round of stimulus checks. These checks are all a part of bigger COVID-19 relief packages, which required the implementation of new laws.

On December 27, 2020, new tax laws were put in place, specifically; this means that there hasn't been enough time for the IRS to fully test and program their adjusted systems. One major reason for a delay too is that not everyone received their second round of payments. Those people may be eligible for a rebate when they file for their income taxes. If people began filing their income tax returns before the IRS was prepared to handle issues like these, there would actually, in some cases, be even more of a delay in processing income tax returns. Conversely, if these changes are not properly implemented, people will not be able to receive their rebates.

Understanding The Timeline Of Refunds

As previously mentioned, many Americans are in great need of their tax refunds. They need their refunds to come through as quickly as possible, and some people even plan certain financial decisions around their expected income tax returns. Some people may use them to pay rent or their mortgage, or perhaps child support, which a non-custodial parent will have to pay until their child turns 21 years old. But the timeline of the tax refunds will be thrown off this year, and people should prepare for that. Additionally, the more prepared they are, the easier it will be for them to do what they can to speed their tax refunds along.

One of the best moves that individuals can make to ensure that they receive their tax refunds in a timely manner is filing electronically. Even if an individual is used to filing with paper and believes that filing electronically will take more time for them, they should choose that option. While it may take them more time to fill out that option, the speed through which electronic processing works will ensure a faster tax refund. For this same reason, individuals should choose to have their tax refunds direct deposited in their bank accounts. Not only will this ensure that they get their refunds more quickly; it will also ensure that their stimulus checks are direct deposited in turn.

People should also begin filing their income tax returns as quickly as possible. There is no need for them to wait until February 12 to begin filing. Rather, they should start working with software companies to begin filing their income tax returns. The software will file the tax return automatically, as soon as the start date is triggered. Additionally, software can often save an individual's tax return information over the years, making it easier for them to file every time. Although the typical American will move around 12 times in their life, resulting in them needing to update their addresses on their income tax returns, other aspects can be saved on tax return software.

Unfortunately, a delay is likely for tax refunds regardless of how quickly individuals choose to file. The IRS is overloaded with the new laws and regulations surrounding the COVID relief packages and stimulus checks. As previously mentioned, a third round of stimulus checks is rather likely. While typically speaking, these tax refunds will be deposited or sent to the recipient within 21 days of them electronically filing, this time the processing could take weeks more. Furthermore, the 21-day estimate is dependent on an individual's tax return being without issue. When a tax return is problematic, it will naturally take more time to process, and therefore it will take more time for the individual filing the return to receive their tax refund.

There are other delays to consider as well. By law, the IRS is currently prohibited from issuing tax refunds that involve the Earned Income Tax Credit or the Additional Child Tax Credit before the middle of February. Tax returns can also get somewhat more complicated if individuals are subject to taxes that not everyone else would typically be subjected to. For example, married couples that own estates worth over $10,860,000 or individuals with estates worth $5,430,000 would typically be subject to real estate taxes.

Right now, the deadline for submitted a tax return is April 15, though that deadline could be extended as it was in the previous year. No matter what, people need to be prepared and ready to submit their tax returns early.