If you had money to spare, who would you share it with?

That's really a very difficult issue to consider.

In 1928, about 80% of the population lived on credit and basically spent their future anticipated wages

In 2008, nearly the same percentage did the same thing.

Apparently, very few learned from 2008 and nearly 80% lived from paycheck to paycheck.

That same 80% make cred purchases based on image like luxury cars with loans extended to seven years or more.

Businesses work on no cash reserves or negative cash reserves.

The "Greatest Generation" that lived through the Great Depression, having learned from living through hard times, lived financially conservative lives.

The affluent "Baby Boom" generation had it too good and have basically failed to plan successfully for a financially secure retirement, having lived most of their entire lives basically buying things on credit for the sake of image which they might not have been able to afford and forsaked their future retirement.

Those of us who are financially conservative find it very difficult to have sympathy for those who have flaunted their "fake wealth and success" based on credit.

I find it ironic here in the South on how those who pay less of their taxes to the Federal Government than the financial centers on both coast and receive a large portion of Federal aid, resort to expecting help the Federal government to bail them out.

 

We will not be getting any payments.

What I have been doing since all this began, is giving 100% tips on every food order we've done. I also got a haircut the day before all salons were closed down and I gave my "cutter" enough to cover 4 haircuts as she has no other income and will be out of work for quite some time. Not bragging, it's just the least we can do to help those that regularly make our lives better daily.

 

There is a saying about hurricanes.
They tend to accelerate things that are already under way.

In this disaster, generosity is one of them among many people.

YMMV

 

I just read this story of a small factory in Los Angeles that has figured out how to make better-than-bandanna masks, and they've even gone as far as buying lab equipment to test their wares for effectiveness and inform their design process. The owner is paying her employees full wage to crank out masks now.

Full story here

Gofundme link here

 

of my usual charities, the ones that are on the front lines in this:

healthcare for the homeless

homeless shelters

hospitals

shoppers and delivery drivers

 

Trying times indeed bring out the best or the worst in people.

 

i haven't read the details, but assume (hope) we're not getting one.

 

There are charities I have always donated to, and there are many named in my will. It's important to thoroughly investigate where your money will be going, especially in terms of the percentage that will actually reach the intended recipients. Other than that, follow your heart.

 

Do you also find it difficult to have sympathy for the CHILDREN of those people.......who might be going hungry or living on the street because of this ??

This is not a theoretical question for me, as I am retired and those (mostly) "fixed income" sources that I live on have not changed because of the pandemic. Some of my expenses have gone down.

So I fully intend to donate all of my "stimulus money" to a good cause.
At the moment, I am leaning toward "Feedingamerica.org" but there are lots of others.

Some of the largest and most visible "charities" actually use a huge percentage of their income on "administrative costs".......that is, paying the salaries of their executives. Please research how your money will actually be used before donating.

 

I wholeheartedly believe in programs that teach children to financially succeed. That's why schools feed children; a program promoted by President Lyndon Johnson. In his early years as a teacher, he witnessed hungry children coming to his rural classroom.

That's why they feed children while they are present at school, rather that giving food to their parents to give to the children. Unfortunately, there are parents who eat first, while forsaking their children.

It's hard to feel sorry for the multitudes of individuals waiting multitudes in line in their $40,000 late model SUV's to collect a $10-15 box of giveaway food.

 

And it is hard to take you seriously when you make sweeping generalizations like that.......which are not true for the VAST majority of people taking free food handouts.

I could just as easily say that all of the people in line are bare foot in raggedy clothes and have walked miles to get there.

Neither statement is true.

Your statements smack of elitist snobbery.

 

I do not think I am eligible for COVID-19 hush money.

I am doing the 100% tipping for carry out. All the restaurants are hurting.
We figured out how to tithe at church even if we are not attending. (Becky is still singing, just to an empty sanctuary)

Starts at 20:40, to 25:35

My local Lions Club still gave out scholarships, even if we could not meet and could not hand the checks in person. (Less public recognition for the Senior, but they get the money for schooling)
I am still donating peanut butter to the Community Food Pantry.

 

Not snobbery. Just fact. It does happen, unfortunately.

Those who are financially conservative are NOT snobs. Those who flaunted their success and lived beyond their means are the elitist snobs.

I wish all had planned and saved for a situation like this. Not all of those who live from paycheck to pay check live near or below the poverty level. Those who live on near minimum wage can't help it. But there are many who live on incomes over over $100k a year still choose to live from paycheck to paycheck, when they don't have to. When they lose their job, they beg for help.

Like the Great Depression, it would be a valid prediction that there will be a lot of late model SUV's gong for cheap in the future. In the mist of a depression, men in business suits lined up in front of soup kitchens. Everything sold for cheap, because almost no-one had liquid capital to purchase any of it.

 

i'm more concerned that money printing will lead to an inflationary spiral

 

They are when they condemn an entire group of people for the actions of a few.

 

I’ve never considered myself to be poor or even lower-middle class, but we’re solidly in the zone for the dot.gov kickback checks since the AGI limit for two people is $150,000....for the full amount.

 

Realistically if people learn to plan ahead especially in events like these, it will help to relieve others and possibly save lives.

 

Not the entire group; only those who fit the criteria. You assumptions are dead wrong!