kmkaks Posted April 16, 2020 Report Share Posted April 16, 2020 6 minutes ago, Sach4life said: Because we currently don't have enough to feed extremely poor section of the society, so i fail to see exactly should middle class get so much money on a recurring basis. We have enough to feed our people, it is just that our system is so convoluted and our bureaucracy is so lazy that they can’t figure out how to deliver to the people in need. Link to comment Share on other sites More sharing options...
Sach4life Posted April 16, 2020 Report Share Posted April 16, 2020 Just now, kmkaks said: We have enough to feed our people, it is just that our system is so convoluted and our bureaucracy is so lazy that they can’t figure out how to deliver to the people in need. I agree, and we should figure that out first. Link to comment Share on other sites More sharing options...
l33tmaniac Posted April 16, 2020 Report Share Posted April 16, 2020 (edited) 12 minutes ago, Right said: 1500$ for anyone living in Bay Area are like 1500Rs in Mumbai. Jan-Dhan xfers will take care of problems for folks live around poverty line upto an extent only, but also the truth is we cannot afford much either. After this there will be another big chunk which has to be pumped in economy and that is more important. This is an overstatement to the nth degree. 1500$ is actually a pretty big amount. Bay area has folks other than middle those working in IT. Middle class income in Bay Area can range from 50k USD upward. It will really help those with blue collar jobs. Edited April 16, 2020 by l33tmaniac Link to comment Share on other sites More sharing options...
CarbonCore Posted April 16, 2020 Report Share Posted April 16, 2020 37 minutes ago, adity said: 20,000 paid to even 500 million people is USD 135 billion. I don't think India can afford that. India's population is like a big red pipe wrench that you throw in every single government policy and plan. Link to comment Share on other sites More sharing options...
l33tmaniac Posted April 16, 2020 Report Share Posted April 16, 2020 3 minutes ago, Sach4life said: I agree, and we should figure that out first. Beyond food for those under poverty line, I think the biggest issue with the middle class would be the ability to pay back loans. If the govt and RBI simply go ahead and say people can default on loans for 3 months without the need to pay interest that would make lives of so many people easier. Link to comment Share on other sites More sharing options...
Right Posted April 16, 2020 Report Share Posted April 16, 2020 (edited) Dp Edited April 16, 2020 by Right Link to comment Share on other sites More sharing options...
Right Posted April 16, 2020 Report Share Posted April 16, 2020 6 minutes ago, l33tmaniac said: This is an overstatement to the nth degree. 1500$ is actually a pretty big amount. Bay area has folks other than middle those working in IT. Middle class income in Bay Area can range from 50k USD upward. It will really help those with blue collar jobs. Said that from CoL perspective. https://fortune.com/2018/06/28/san-francisco-housing-crisis-low-income-families/ Link to comment Share on other sites More sharing options...
PhantomShade Posted April 16, 2020 Report Share Posted April 16, 2020 3 minutes ago, l33tmaniac said: Beyond food for those under poverty line, I think the biggest issue with the middle class would be the ability to pay back loans. If the govt and RBI simply go ahead and say people can default on loans for 3 months without the need to pay interest that would make lives of so many people easier. This is standard Indian behavior lol. You don't need govt blessings for this to happen. In any case the virus itself and the lockdown are the tip of the iceberg in terms of the sh*t we will have to face in the next year or two. govt will have to get loans to pump in stimulus and gibsmedats for the poor ppl. middle class workers ofc will get f**ked. Link to comment Share on other sites More sharing options...
PhantomShade Posted April 16, 2020 Report Share Posted April 16, 2020 lol at handing out 5k to the middle class. The point of handouts in Austalia HK etc is to boost consumption to jumpstart the economy, and considering fckall is exported from here, consumption is the only thing that grows the economy. All white countries, after their role-model America, are avid consoomers, so is everything attached to mainland china, not India tho. You think in these times this 5k will consoomed by any middle class( the definition of which is also very broad ) type? or will he just let it stay in the bank? because he has been fired and does not know where the next paycheck will come from? Link to comment Share on other sites More sharing options...
i_rock098 Posted April 16, 2020 Report Share Posted April 16, 2020 Well Australia has a population which is significantly smaller than that of Kerala plus they have a very high quantum of natural resource per capita. The USA, their parliament passed a 2 trillion dollar relief fund,. India’s entire economy is worth a little more than that. So that figures.True, makes sense. 1500$ for anyone living in Bay Area are like 1500Rs in Mumbai. Jan-Dhan xfers will take care of problems for folks live around poverty line upto an extent only, but also the truth is we cannot afford much either. After this there will be another big chunk which has to be pumped in economy and that is more important.I seriously hope that they do indeed have a plan to fix the economy. Given all the GDP forecast ratings of 1.7%, 0% from different agencies is pretty scary. Though i definitely think saving human lives comes much above saving economy. Sent from my ASUS_I001DE using Tapatalk Link to comment Share on other sites More sharing options...
i_rock098 Posted April 16, 2020 Report Share Posted April 16, 2020 DP Link to comment Share on other sites More sharing options...
Sach4life Posted April 16, 2020 Report Share Posted April 16, 2020 36 minutes ago, l33tmaniac said: Beyond food for those under poverty line, I think the biggest issue with the middle class would be the ability to pay back loans. If the govt and RBI simply go ahead and say people can default on loans for 3 months without the need to pay interest that would make lives of so many people easier. That is a different kind of benefit and i would welcome that and should have been done. Link to comment Share on other sites More sharing options...
Right Posted April 16, 2020 Report Share Posted April 16, 2020 6 minutes ago, l33tmaniac said: This is an overstatement to the nth degree. 1500$ is actually a pretty big amount. Bay area has folks other than middle those working in IT. Middle class income in Bay Area can range from 50k USD upward. It will really help those with blue collar jobs. Said that from CoL perspective. https://fortune.com/2018/06/28/san-francisco-housing-crisis-low-income-families/ Link to comment Share on other sites More sharing options...
Sach4life Posted April 16, 2020 Report Share Posted April 16, 2020 4 minutes ago, adity said: You will be looking at banks crashing then. It is on the government to subsidize that. On one hand Government is asking medium and small businesses to not stop paying their wages to workers, on the other hand, they are not providing tax and interest reliefs on loans, credit facilities etc. That is not really possible for many businesses. 2 Link to comment Share on other sites More sharing options...
KnackChap Posted April 16, 2020 Report Share Posted April 16, 2020 I cant even.... ?? Link to comment Share on other sites More sharing options...
playstationdude Posted April 16, 2020 Report Share Posted April 16, 2020 32 minutes ago, Sach4life said: It is on the government to subsidize that. On one hand Government is asking medium and small businesses to not stop paying their wages to workers, on the other hand, they are not providing tax and interest reliefs on loans, credit facilities etc. That is not really possible for many businesses. But I think in that case govt will also need to wave off the interest liability of banks for 3 months( FD, RD, Savings , PPF, etc). Cant expect banks to not earn interest but to keep paying interest. Link to comment Share on other sites More sharing options...
harsh1387 Posted April 16, 2020 Report Share Posted April 16, 2020 Canada is paying 2000$ a month to everyone who have lost their job due to Corona. Even international students like from India are eligible for it.Sent from my SM-A505F using Tapatalk Link to comment Share on other sites More sharing options...
l33tmaniac Posted April 16, 2020 Report Share Posted April 16, 2020 (edited) 51 minutes ago, adity said: You will be looking at banks crashing then. There'll obviously have to be government support and aid for this to happen. Pumping money to corporates and allowing them to default ensures that job opportunities are not lost. But here, we are talking about people's livelihood and the potential to wipe out their life savings. All that I am saying is there needs to be a balance. You can't just deal in macro-economy and expect the benefits to trickle down every time. Especially in our country where the law and tax system is open to interpretation of the super-rich who take most of the benefits and don't allow it to trickle down. Edited April 16, 2020 by l33tmaniac Link to comment Share on other sites More sharing options...
Sach4life Posted April 16, 2020 Report Share Posted April 16, 2020 10 minutes ago, playstationdude said: But I think in that case govt will also need to wave off the interest liability of banks for 3 months( FD, RD, Savings , PPF, etc). Cant expect banks to not earn interest but to keep paying interest. That is what i am saying, its upto government to subsidize banks for that. Link to comment Share on other sites More sharing options...
Outlook Posted April 16, 2020 Report Share Posted April 16, 2020 34 positive cases in Karnataka today, biggest ever single spike for Karnataka Link to comment Share on other sites More sharing options...
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