What's going on everybody welcome back to the channel, my name is Walter. This is the credit card master channel today we're going to talk about the ABC act and I'm gon na do break down what that is and what it entails and what I feel, and if this is possibly gon na, be something that could get passed. I mean we'll see it's not official, it's just talk is just speculation, but I wanted to really let you guys know that there's a lot of people are really trying to do right by us and give us more than the 1200 and some of us received for The 12 under stimulus, so let's go right into the video Missa de video. If you're new.

Here we talked about finance, we talked about travel, we talked about how to maintain, build and rebuild your credit. So that's some things that you're interested in make sure you like you share you subscribe and you can also click the notification bell, so you don't miss any future updates, I'm in the car right now, I'm everywhere, but at home. No, I'm not traveling right now, anything but just being at home all day. Now that I'm work from home is just really just it's just ridiculous forty hours a week, you know, instead of being out with you, know, co-workers and friends, I'm actually in my own home.

So, whenever I can get a chance to get out somewhere, I'm going to be out. So that's what my videos are kind of in a car right now, but it is what it is still the same content so the same. You know just a different scenery and very soon I'll, be you know, making sure I'm traveling and giving you blogs and talking to you guys from different places around the world. So anyway, the ABC act is something that's going to possibly be giving you $ 1,000 per month for up to a year after the co.

Vid situation is done because you know it's going to take some time for things that really recover, and especially people businesses. It's going to take some time for people and businesses to recover after the co vid situation regardless. If you are sick or a viewer, dis impact, it may be from a job or a family, member, etc. So the ABC accidents for automatic boost to communities Act and it's it's been on - you know pretty much brought up.

The proposal is by congresswoman Rasheeda. I do not know how to say the last name, I'm looking at my phone right here. I don't know how to say the last name, but I'll just say: congresswoman, Rasheeda, T and I'll. Pretty much give you a summary of what it is to show your screenshot of what it is so pretty much.

The summary of it is just going be giving 2,000 to every person in America when a US debit card preloaded with 2 grand, which is pretty cool. That way, you'll have to worry about checks being sent out or direct deposit information being wrong, or anything crazy, like that and after the 2000 for every person in America we're going to give one thousand monthly every year until the end of the coronavirus crisis, which i Think is awesome when I mean every person, every person, meaning dependents. So a couple, let's say, for example, who has two kids well, each of them will received. They would receive two grand right so due to two people, the husband and a wife or the couple, and then also the dependents would also receive it.

So if a meal for would actually get eight thousand - which is that's a lot, that's a lot of money. But it's a the more money and situations like this. You know you really can't underestimate that the toll that it's taking on families - so that's eight thousand in total non-citizens, including people who are undocumented permanent residents, temporary visitors who exceed three months of being here. Also, people who don't have bank accounts social security numbers or permanent addresses now with that being said, I don't know how they'd be able to get the money.

It's gon na be really hard to really track them down. I guess, but again I'm not the government, so maybe it's not that hard, but if it's me and they don't have an address that can go to them permanently, it's probably gon na be pretty hard for me to kind of track them down if they're all over. Also, people who are living in unincorporated territories and Americans living abroad, so I mean that's pretty much what it is now distributing the money. Again, it's going to be prepaid debit cards and it's going to be administered by the US Treasury, and these are prepaid.

Digital cash cards that could be used at like normal stores like Walmart chick-fil-a, I'm just I love chick-fil-a aside as a chick-fil-a, but you know fast food places, supermarkets, you can go to the ATM and I get money out of it with the debit card is pretty Much just a prepaid debit card, there's not gon na be any fees. Typically, those fees were prepaid. Debit cards, there's not gon na be any fees during the doing a duration of the coronavirus crashes, which is awesome and that's pretty much what it is now. Here's the cool part about it, I'm gon na kind of skip through a lot of things, but the thing that was really cool about it was the money would be financed by a so.

The automatic booster community's equity money financed will be a money financed fiscal program for which no additional US debt would be issued, which means that the US would not going to a more debt which, like yeah, like that's honestly with that being said. This is probably my most favored proposal because there's not going to be any debt being associated so more than likely us as people. We won't have to pay it back. We don't have to we're, not gon na be taxed.

Probably I'm not saying for sure. We won't be taxed on it as there is no debt being accumulated. So it's going to the money is going to come from the Treasury, using its legal authority to create money be and via KOIN, which is pretty cool, so they're going to have 2 1 trillion platinum coins. I'm not sure if you guys know what coins are, but you can definitely look them up.

Platinum coins they've been out for some time now so they're going to be using 2 to 1 trillion platinum coins to actually get this proposal possibly passed. I don't think this is a bad proposal at all. Again it will be 2000 per one time for every person in the US and then it's going to be 1,000 per month for a year. So that's really good.

In my opinion, that's better than 1200, it's better than the whole check process of having to get things through a check and then going on to a portal. Then the portals down and then people who have do have direct deposit. Maybe the account information is wrong. Maybe it's in the system wrong, maybe maybe the accounts closed.

Maybe it's charged offer on collections, it's so many. You know with it be in 2020, this proposal, I like it the best because it is 2020 type proposal. It's we're going to give it to an a prepaid debit card. Okay, that's not! You know, necessarily 2020.

That's been around for a long time, but cheques are just so honestly like they're. Just they just are just checks. You know I don't necessarily like how cheques are distributed. It's take takes too long for you to sometimes get checks.

They got to come in the mail, it's snail mail unless it's expedited, which probably wouldn't be expedited. This the whole check system and the direct deposit changing information. It's just a lot things, it's a lot of variable. Just you got to kind of really get a get across and kind of overcome.

Some people are very straightforward like such as myself. If having my account for X amount of years, I haven't closed them. I haven't changed them. I don't do checks.

I haven't written a check in a long time and that's that, but some people are a little more sophisticated. They they use checks to do this. To do that, this kind of kills all that, and there is no love I'm on Social Security. If I'm on the more SSI, if I'm on this I'm on that I'm unemployed, it kills all of that too.

It's 2,000 for every person in the US and it's 1,000 for a year as opposed to it is 1,200 and that's it and then, like you know they give us that and they feel like they've done something for the community. That's $ 1,200 is yeah, it helps, but it's chump change. It is again, I've said it a bunch of times and we're not gon na get political on the channel. I'm not gon na talk to you guys and you've got ta.

A lot of you guys. Give me like politics and stuff like that. I'm not gon na I'll, see the comments I'll you know. Have other people respond, I'm not going to get into politics or my political beliefs on the channel, but $ 1,200 is not political at all.

It's just not enough! It doesn't matter who's in favor or not in favor of such-and-such it's just not enough 1200. So that's just my personal opinion. But what do you guys think about this proposal again guys? This is not something that I am saying is about to be passed. This is not something I am saying has been passed or official.

This is just a proposal, but to me it is the most logical proposal for the times that we live in and also for the amount of money that it's trying to give you it's trying to give you twelve thousand so one for twelve months and then also Two thousand, so that's fourteen thousand dollars that are giving to you, which is way better than one thousand two hundred and that's per person. So um, you know people who live in a household of four again guys. That's that's a lot of money and I could really go a long way to get everybody back on their feet, including business owners and then and all that stuff. You know especially small business owners who really don't generate as much income as these bigger corporation.

So if you guys, like this video, make sure you give it a thumbs up I'll put the link down to the proposal, so you guys can actually see it and actually read through it and you have any questions or any. You know FAQ anything like that. I'll make sure I put the link down below in the description is getting kind of, I'm not sure if you can actually hear the rain, but I think it's about to kind of start getting really hard with rain, we're almost out five thousand subscribers. So all my new subs, thank you guys so much for subscribing.

I told you guys once I hit five thousand, subscribers aren't going to be doing a really great giveaway to help out people in these tough times. So definitely make sure you like share, subscribe and also most importantly notification about, because when I announce what the giveaway is going to be, I want to make sure everybody who has the chance to you know see it season out one hundred percent. So there's no. You know I didn't know or anything like that you guys will be able to see what it is and that's pretty much it.

So you guys, if you like this video, please make sure you like share and subscribe five thousands right around the corner. The road to 10k is what we're trying to do at this moment and again I'm going to be giving away something, I'm not going to say what it is, but once we hit five thousand subscribers just to be very soon. I will be announcing that in the upcoming times, so, if you guys liked it subscribe, get it in make sure you are ready for the giveaway it's going to be the biggest one. I've done on the channel and I'll see you guys.

Another video take care I'll see you soon.