et tu Sen Mark Warner
16 Likes
Important to note that is applies to Government Employees only. All the contractors who work for the government are out back pay and will never be made whole. In short, they are screwed. Keep this in mind as we consider turning our national defense over to contractors like DeVoss’s brother. Armed and unpaid is not a good recipe.
35 Likes
And of course…
We expect this sort of thing as a matter of course from sleazebag greedpigs like Ross, but any Dem who supports this parasitic industry is no friend of the common man.
20 Likes
Paul Krugman is on the point, as so often happens:
40 Likes
“The banks and the credit unions should be making credit available to them,”
Insanely rich, elitist, out-of-touch banker guy has no clue how real banks actually work. News at 11.
24 Likes
17 Likes
Yeah, but they were screwed by previous shutdowns as well in the same matter. They are screwed worse this time because the shutdown is longer.
The same goes for folks who are funded by grants or other payments from the government that they should be receiving during the shutdown. Some of my coworkers salaries are grant-funded, and I do worry about what happens if during the shutdown their projects don’t get their grant money.
14 Likes
“if you’re in financial trouble, what’s keeping you from selling off a few hundred shares of your mutual fund?”
20 Likes
What a phenomenally clueless thing to say - this needs to be quoted on every Dem. political mailing for the next couple years.
9 Likes
I admit I’m not “old money”, or even “nouveau riche” (or heck, rich in any form), but wouldn’t that be “touching the principal”, a big no-no?
10 Likes
If you squint real hard one can see the Coal Industry on there too. See, it’s there. Lower right. That little speck of fossil fuel dying off.
14 Likes
I’m genuinely curious how that backpay is paid out. Does it all come in one check that gets taxed heavily like you’re earning 4 pay periods in 1 check? If so, people won’t get that back until they file their 2019 taxes in 2020.
4 Likes
Maybe we’re being too hard on Wilbur. We’re all just assuming that when he says he doesn’t understand that he’s implying that something is wrong with the world rather than with him. What if he’s totally genuine? What if he just really doesn’t understand? He actually just doesn’t know what’s going on, and he’s a big enough person to admit that. Would someone please help out Wilbur Ross?
11 Likes
It’s all money in the end. “You can’t seriously be broke. Sure you have no money in your personal checking account, but what about your 401k, trust fund, stock accounts, options, mutual funds, exotic collateralized debt obligations, summer home mortgage, and your $40 million yacht.”
They literally can’t understand fiscal responsibility because they’ve never needed to.
“It’s one banana Michael. How much could it cost? Fifty dollars?”
37 Likes
Let’s see; personal net wealth: $700,000,000
Unemployed Govt workers: 800,000
He could give them each ~$1,000. Not a lot, but it’ll help keep the lights on for a week or so
26 Likes
Looking at you, God. Oh. Wait. You said “help”, not “take”. My bad.
15 Likes
While I have done tax preparation work in the past and have written a payroll-tax software module before, I can only guess what would go on.
The basic way to calculate payroll taxes is to take a paycheck, multiply it out to cover a full year, calculate the taxes on that amount, then divide that to match what should be the share for that paycheck. So if you make $1000/week (as per the median Federal salary), multiply that out to $52,000/year, subtract the 12,000 standard deduction to get $40,000, compute the tax on it (let’s say it’s $5,200, which isn’t right but the math is easier), divide by 52, to get $100 deducted per week. If you get paid $4,333/month (or $52,000/year), then that $5200 in tax will be divided by 12 to get $433/month in withholdings.
So I suspect that the payment they get after the shutdown ends (which will be paid as soon as possible, not waiting for the payroll cycle) will be withheld as if it covered the entire unfunded period, not as if it were one normal paycheck. It shouldn’t give them a larger than usual tax refund next year.
Of course, they might not do it that way.
5 Likes
If he put up his assets as collateral at a payday lender - he could lend a lot more.
17 Likes
The $25 origination fee on the loan isn’t so bad when it’s for a billion dollars instead of the usual hundred.
8 Likes
Flaw: only works if you make yourself a corporation first, otherwise they’ll just make you bankrupt and hunt you down for every penny you earn from now on.
8 Likes
