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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Just announced "paid furloughs" today... Some people have already been notified. Lots of them...

Paid furlough is an interesting concept. But kind of illustrates the crazy time we're living in.

Essentially we're getting a payroll tax credit. I find it illuminating they added a sentence explicitly stating that employers of all sizes are eligible.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Deutsche Gopher Fan said:
I’m dumb...what is the point of paid furlough?
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It's basically a paid leave of absence that the employee didn't request. It gets the employees out of the work place but keeps them on the payroll. I'm not sure why they'd have to call it a furlough. Basically, it's just "don't show up to work, but you'll still get paid."

Also, if you are participating in the PPP, you need to keep the employee on the payroll, whether they are actually in the building or doing any work at all.
 
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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Deutsche Gopher Fan said:
Sure but what’s the financial incentive for the employer?
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I added to my post while you were responding.

There is no real financial incentive. As I said, if you are on the PPP, you have to keep paying them whether they are there or not.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

SJHovey said:
I added to my post while you were responding.

There is no real financial incentive. As I said, if you are on the PPP, you have to keep paying them whether they are there or not.
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I should know this, but it has been too long since I really practiced employment law: does time on paid furlough count towards seniority?
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Fighting Sioux 23 said:
I should know this, but it has been too long since I really practiced employment law: does time on paid furlough count towards seniority?
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I would assume so. I think "paid furlough" is just a made up name. They might as well call it a paid leave of absence. It's just basically the employer saying they'll pay you but you don't have to show up. In the public sector they always call it "paid administrative leave," usually granted after a cop shoots someone.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

I imagine there are a number of reasons why companies might do this. It probably has something to do with status as an "employee" since if you are just laid off without pay, I don't know that you're even an employee anymore. That maybe screws up things like benefits and your eligibility for them.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw">#BREAKING</a>: CBO projects 39.6 percent quarterly GDP drop, $3.7 trillion deficit <a href="https://t.co/ckjhblcKct">https://t.co/ckjhblcKct</a> <a href="https://t.co/RdbpDNrUv1">pic.twitter.com/RdbpDNrUv1</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1253744285700276227?ref_src=twsrc%5Etfw">April 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Sounds like it's "Nothing changes, just don't show up or turn on your computer/phone. US government is giving us a tax break if we make you sit at home."

I think that's.... kind of crazy. The loss in productivity is probably orders of magnitude higher than the benefits.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Handyman said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw">#BREAKING</a>: CBO projects 39.6 percent quarterly GDP drop, $3.7 trillion deficit <a href="https://t.co/ckjhblcKct">https://t.co/ckjhblcKct</a> <a href="https://t.co/RdbpDNrUv1">pic.twitter.com/RdbpDNrUv1</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1253744285700276227?ref_src=twsrc%5Etfw">April 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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holy god
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Handyman said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw">#BREAKING</a>: CBO projects 39.6 percent quarterly GDP drop, $3.7 trillion deficit <a href="https://t.co/ckjhblcKct">https://t.co/ckjhblcKct</a> <a href="https://t.co/RdbpDNrUv1">pic.twitter.com/RdbpDNrUv1</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1253744285700276227?ref_src=twsrc%5Etfw">April 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Good lord.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Yeah...no matter how many times I read that headline it kind of shocks me each time.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

SJHovey said:
I imagine there are a number of reasons why companies might do this. It probably has something to do with status as an "employee" since if you are just laid off without pay, I don't know that you're even an employee anymore. That maybe screws up things like benefits and your eligibility for them.
Click to expand...

Furlough, employee keeps their benefits, and when (and it'll be when, eventually) this gets better, the employer won't have to go through the interview process/training/paperwork for a new employee. The furloughed employee just comes back to work. That is my understanding.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

I wonder how much of the stock market rebound from the lows a month ago are from all of us heeding the advice to stay the course, and invest more at the "bottom."

I do have to say, some of the advice I've received here has done well. Increased my contribution amount right after the market crashed. Switched my 401K investment into a group that had better mix of companies with good balance sheets and better long term recovery outlook. Recovered the password to a long forgotten 401k rollover that had been sitting in a money market account for years earning squat, switched that to a different group to actually do something for me before the market rebounded.

Still haven't jumped in to individual stocks. I am unsure I want to commit to a Vangaurd account just for stocks. Might open a Robinhood to test the waters (since I don't have to invest much).
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
I wonder how much of the stock market rebound from the lows a month ago are from all of us heeding the advice to stay the course, and invest more at the "bottom."

I do have to say, some of the advice I've received here has done well. Increased my contribution amount right after the market crashed. Switched my 401K investment into a group that had better mix of companies with good balance sheets and better long term recovery outlook. Recovered the password to a long forgotten 401k rollover that had been sitting in a money market account for years earning squat, switched that to a different group to actually do something for me before the market rebounded.

Still haven't jumped in to individual stocks. I am unsure I want to commit to a Vangaurd account just for stocks. Might open a Robinhood to test the waters (since I don't have to invest much).
Click to expand...
Only go into individual stocks if you’re willing and able to commit to the time and effort of the research.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Cramer’s rule of thumb was an hour a week per stock.
 
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