So a very popular question that a lot of people have in mind is Brian: when will we hear about these second stimulus checks and that's what we're gon na be focusing on in today's video now I know a lot of people have a still yet to receive Their actual first stimulus check, if you have congratulations, I'm happy that you guys received it, but I know that money really isn't that much for a lot of people and with about 30 million estimated Americans to be unemployed during this time in the last five weeks we Are entering a new month? This is May 1st today and we definitely have a lot of new things that we need to cover so most recently, there's 484 billion dollars worth of stimulus package that was recently passed about a week ago. This was really meant, for you know what it's not even a week. I think it's been less than a week. This was really meant for small businesses, hospitals and employers, where they put a lot of the funding toward something called the PPP program.

Peep-Peep a pip it other than it sounds like a rap rap motto. Perfect. Pity: baby! Ok, that's stupid! So, in a nutshell, for anyone who doesn't know what the PvP is, this is straight from the SBA's website. The Paycheck protection program is a loan designed to provide a direct incentive for small business to keep their workers on the payroll.

This is really intended for a lot of those businesses right now that are losing out on tens of thousands of dollars every single month because they're not getting any revenue coming in and they still have employees on their paycheck. Now I know a lot of people are filing for unemployment and the issue with that is because there are so many people filing that the government can't actually process all these people at once. So an alternative solution for these businesses to stay in business and to still allow a lot of their employees on their payroll is to give them this type of money. This loan right here and they're calling this loan a forgivable loan, so the money that you pay towards your employees or other qualifications that the SBA is consistently updating to their website, there's a chance that you can actually get this all for give towards the end.

But if you guys do not get it forgived, this is still just your regular variable loan. They just reduce the interest rate significantly to about 1 %. So if you take out $ 10,000 from the PPP, if you are unable to get that part of your loan, a forgived you're actually still gon na - have to pay $ 100 on it, which is not too bad at all. If you're getting 10 grand - and you only pay 1 % interest - it's not too bad.

So when the government actually came out with the PBV program, this is unlike the stimulus check or the e, where you have to apply on SVA. You actually have to apply through the banks, they process it, they middleman this transaction and then they send it over to the government. The issue was the government explicitly said you cannot prioritize other people. You must do this at a first-come, first-served basis and guess what the banks in the banks actually prioritize their high ticket consumers or the people who just have a lot of money and the issue with that is the little guys the people who may need the money.

The most none of their applications were able to go through and because of that man, a lot of people are mad. A lot of people may go out of business, and this could happen potential. I won't be surprised if it ruined the lives of many different families. So Brian, why did they prioritize bigger consumers and Cline's and people who have a lot more money? Well, the banks actually make a processing fee off the size of the loans.

So a good example of this is say: I'm a banker named Steve. I don't know why. Steve comes up, I feel, like a lot of bankers are named Steve say my name is Steve. I'm chillin right here.

I basically got a chick-fil-a business. That only makes $ 100,000 a year, and then I got a Cheesecake Factory business that makes 10 million dollars a year. I spend the same amount of time on both of these loan applications, but if I sent over the one with chick-fil-a, I will make a smaller Commission off the processing fee because they are a smaller business. I will make a lot more money because Cheesecake Factory they huge out here - okay, they ball in.

I know if I spend the same one hour on them, I'm gon na make more money with them being said. Okay, there's nothing wrong with that. We're banks we're already criminals; let's do that anyway, so they went ahead did that they actually got a lot of trouble for that. I'm really curious to see where that goes, because a lot of small business owners may have felt some type of way.

From that you know what I'm saying: okay, so now, I'm not gon na go fall in death on PvP. This could be its whole own episode on that, but with that type of analogy, even if you guys aren't in the business industry, if you guys don't own anything, it doesn't matter because this is still very viable and important information that you guys need to know, because Your employer, whoever you work for, may be like hey Tom, can you come in like do you want to start working again and you might be wondering like how can I work like like what's going on? I know you're not making that much money and most of your employers chances are have gone to proof for that PPP loan. If you're on their payroll, they can still get free, labor done while they pay you that forgivable loan that they will get forgived, hopefully in the future. So if any, you guys work for someone and they're saying that you can come in right now and and do some work for them and you're not sure exactly what's going on, because you thought they had no money.

It might be the PPP just recently this past week. They got refunded a lot of money for that program. A lot of people did get accepted for the PPP and right now is a perfect opportunity for them to use these expenses towards payroll, which is really what it's meant for, and I know the SBA knows this. I know a lot of other people know this too, but people may actually take this loan at 1 % and use this for other things not intended for it.

The SBA is explicitly saying: do not use this for other things or we will come after you. You will be a criminal, we will come after you, we will pursue charges. So if you guys have been a proof of the PBP loan, please please use it for the intended purposes. I don't want anyone to get fined or thrown in jail, because you guys decide to buy a new car with that during this time, so make sure if you guys do get a proof or any of these government loans.

Don't expect this to just be complete free money, okay, a lot of the times it is the grant, I would say it is you don't have to worry about the stimulus check yeah, but with other things you really want to be careful in case there is an Audit at any time in the future, so the reason why I brought up the 484 billion dollars worth of funding and last bill in this past week is because this shows us that Congress is really not being too stingy with their money. They're, actually giving this out. They're understanding the severity of the situation and what we should expect next is really that second stimulus check, so I actually was doing some research online and I found our boy Pete Trump doing an interview and the interview we asked him this question right here: payments to American taxpayers directly Democrats, of course, up on the hill, are talking about the idea of a guaranteed income which obviously could go on for months and months and months. What about another round tax cuts? I've liked that from the beginning.

That was the thing that I really would now. I'm not gon na go through the whole clip. I will have it listed down below in the description. Next to all the other affiliate links you guys can check out, if you guys want to sign up for a free stock with weeble, you get two free stocks, one worth up to $ 1400 and other bank accounts and services, where you guys can make free money.

Just by depositing a small amount of cash check, those out but I'll have that listed down the description. If you guys want to watch the full video and the tweet too, but here's what you guys need to know. President Trump pretty much gave a politician's answer and for anyone who keeps up a lot with politics, you will know if they do not know the answer to something they're, just gon na circle around the rim. That's let's not do that in our.

So, instead of giving a definitive answer, he actually talks about payroll tax cuts, which he has mentioned before in the past. For anyone who doesn't know what payroll tax cuts is for, anyone who gets a check from their employer, usually you're gon na, have a small percentage deducted. So things like Social Security or Medicare, those fees can be up to about six percent on average. If you guys are self-employed, we actually get deducted twelve percent that we have to pay through our taxes, so payroll tax cuts actually have a few issues.

First of all, it's way too slow. Second of all, it's not targeted at all. Third of all, for all the thirty million Americans unemployed right now, they don't have a check coming in what what type of tax cut can you get from? No check that is actually coming in a lot of people are disagreeing with Trump on payroll tax cuts. I think this is something cool to implement later down in the future, but not right now.

This is not the type of support we need because, unfortunately, you're putting a band-aid on a wound that is completely on a different body. Part Bernie Sanders actually came out with a pretty interesting response. He says a payroll tax cut does nothing for the 26 million who lost their jobs with rent due on May 1st, we need to provide two thousand dollars a month to everyone until this crisis is over. If we can bail out corporations, we can make sure everyone has enough to pay for basic necessities.

That is Bernie Sanders right there for you. I am not someone I I don't involve myself in politicians, but when it comes to this argument alone, I'm gon na have to side with our boy Sanders. Okay, I, like I say I stay away from politicians. I normally just it's not my thing.

Okay, I don't. I don't involve myself with any of this, but with this article, I'm gon na have to side with Sanders on this, because he gives a very good response. A very good rebuttal and $ 2,000, I feel like, is a good amount for the people. Looking for things right now, I mean there's so many surveys talking about how the $ 1,200 check was not enough for most Americans.

We really don't need to reiterate the fact that if we do another $ 1,200 stimulus check, yes, it's better than nothing, but it is still not enough for the people who need it the most. So I know a lot of you guys are waiting on the answer. So Brian, when will we hear news about the second stimulus check well, for anyone who doesn't keep up with why there isn't any updated news? I feel like a lot of people think, like our congressmen are just like chillin in their in their nice beach homes on their yachts right now, like while everyone's like going crazy, and it's like the purge out here. The thing that many people don't know and the thing that a lot of the news agencies aren't reporting is the fact that the virus has actually hit Capitol Hill, like people inside of our Congress, there's a whole list of them that I found that actually have gotten Positive results for the virus that is happening right now now, just like Trump and Sanders have two different arguments on the $ 2,000 stimulus bill.

We actually have a very similar debate going on with returning our congressman and woman back into the office, so quick, senator Jon Tester stated if we're called back - and this is my opinion, I think it sends a message that this isn't really that real and I think It's very real he's talking about social distancing and he's talking about the severity of the virus at the moment now he could be saying this because he truly believes that or he could be saying this because he actually doesn't want to get infected, especially if he's in A room with all these older people that are all getting sick. I found another pretty interesting quote online and this was by Senator Chris Murphy where he responded. It is irresponsible for us not to be continuing to legislate. It's irresponsible for us not to be going back and making fixes to the first second and third C virus package.

The word that we do not say like Lord Voldemort, we do not say it on this channel because we've got to say monetised out here. We all got to eat, drop a like on this video and check out the affiliate links down below. Thank you. I feel like it would be unjust for me to say, like you know, like these old people, they better get their an office right now they better get out there right now, because small businesses in the world are dying.

This is what you guys signed up for you know I feel like that would be a pretty hard way of saying things. So here's a good alternative that a lot of them are proposing they're, trying to do more virtual things. You know how like classrooms are, are like zoom style everyone's, like messing with the teacher and that so from my understanding, it looks like they're still gon na try to keep people in Congress during this time now I actually don't live too far from DC. I live right on the outside, like the suburbs of it, and last time I was there, there were definitely a lot of government vehicles more than I've ever seen before, and this was about a few weeks ago.

So I actually wouldn't be surprised if we saw them coming together again after this recess is over now. The whole reason why I'm mentioning all the things I mentioned is to bring us to this point: when will they formulate the next plan for the possibly? The cares? Act number two: I do believe after May. Fourth, which is this Monday. We should expect to hear some pretty significant news.

Okay, so I will be reporting to you guys on that news. I will be staying up to date with everything I know right now. I could be chilling playing my Super Smash, Bros and my animal crossing, but I've been spending the last four hours doing research on everything going on guys. I really hope this was a very informative video for you guys it took a lot of work to build this up if you guys did enjoy.

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This is over. So I can party with my friends, do not subscribe to the channel yet and don't forget to check out the affiliate links down below so guys. Thank you again for watching. Let me know if you guys have any other questions, so if you guys have any video requests for me, because I will spend my entire day and night researching it, so I can give you guys the best information, so you guys that do not have to so Guys, thank you again for everything.

I hope I see you guys soon. Love you all peace!.