It is hard to imagine how outrageous the Trump administration is! Although their anti-epidemic policies are speechless, their generosity can make Americans endure humiliation... How ineffective are their epidemic prevention measures? Currently, the United States has confirmed more than 1.38 million cases of COVID-19, with more than 80,000 deaths , and the turning point of the epidemic has not yet appeared! What makes people even more worried is that according to the report of the U.S. Department of Labor: the number of unemployed people in the United States has reached 20.5 million, and the unemployment rate has soared to 14.7%, the highest since the Great Depression! But why haven’t the American people gotten upset yet? Because there is nothing that money can’t solve! Yes, the US government is preparing to give out money to save the market again! On Tuesday, Beijing time on the 13th , Democrats in the U.S. House of Representatives released a new proposal aimed at mitigating the devastating impact of the new coronavirus epidemic on the economy and health care system. A vote on the more than 1,800-page package is expected Friday, along with a plan to allow proxy voting on legislation during the coronavirus pandemic. The main contents of this plan include: 1. Allocate nearly $1 trillion to help state and local governments. 2. The second round of direct cash payments will provide $1,200 in cash to every American, with a maximum of $6,000 per family. 3. Allocate approximately $200 billion to provide hazard pay to essential workers facing heightened health risks during the crisis. 4. Allocate $75 billion for COVID-19 testing and contact tracing, which is key to whether American businesses can restart. 5. Extending $600 weekly federal unemployment insurance benefits through January of next year (the provision approved in March is set to expire after July). 6. $175 billion in rental, mortgage, and utility assistance. 7. Provide subsidies and a special Affordable Care Act enrollment period for people who lose their employer-sponsored health insurance. 8. Increase funding for the Supplemental Nutrition Assistance Program (aka the Food Stamp Program). 9. Measures designed to incentivize small businesses and help them retain employees, such as $10 billion in emergency disaster assistance grants and enhanced employee retention tax credits. 10. Funding for election security during the pandemic and provisions to make voting by mail easier. 11. Provide relief to the United States Postal Service. This is an unprecedented rescue plan. According to conservative estimates, the total cost of the new proposal will exceed 3 trillion US dollars, far exceeding the 2.2 trillion US dollars of the previous round of stimulus plan introduced in late March. In late March , Trump signed the first round of stimulus plan of $2.2 trillion to support small businesses to continue paying wages. The government also sent checks of $1,200 each directly to American families in need of assistance and provided relief to millions of unemployed people. This made the American people overjoyed! After they received the relief money, it also directly led to the sellers' sales doubling at that time! This time, distributing money will definitely be another stimulus to Amazon’s sales, and the wave of orders will sweep in again! In addition to the above proposals, US congressmen have proposed more diverse plans! They seem to want to empty the treasury and subsidize the people... include: In addition to citizens, green card holders, and resident aliens, college students and people with disabilities can also get money! American citizens aged 16 or above with an annual income of less than $130,000 will receive $2,000 per month; married couples with an annual income of less than $260,000 will receive at least $4,000 per month! Families with children can receive an additional subsidy of up to $500 per child, with a maximum of three children, for a maximum of $5,500 per family per month! The key point is to pay $2,000 a month, and keep paying it, and paying it, for at least 6 months, until the employment-to-population ratio of people aged 16 and over exceeds 60%, and until employment returns to pre-epidemic levels. In addition, some lawmakers have proposed a number of measures, including waiving mortgages, waiving rent, and reducing payroll taxes, to help the American people ease economic pressure! The United States can be so generous, it is entirely generous to others! This involves some off-topic! The United States has to print money to distribute money. Anyone who knows a little bit about economics knows that such crazy money printing will lead to hyperinflation. So why does the United States dare to do this? Why can it do this? Connally, the former U.S. Treasury Secretary, once said: "The dollar is our currency, but it is your problem." A friend was also quite angry when talking about this topic: Where does the US print money go? China buys treasury bonds! In order to increase its exports and maintain high GDP growth, China must devalue the RMB! The more it depreciates, the more beneficial it is to exports. So once the US prints money, China buys treasury bonds. After buying treasury bonds, there are fewer US dollars in the market and more RMB! The US dollar is used in the US, so there is no inflation in the US, and the RMB is used in China, so there is inflation in China... All in all, the US giving money to its own people may be beneficial to cross-border sellers in the short term, but it may not necessarily mean a good thing in the long run! Of course, these things are not our turn to worry about... Source: FBA Information |
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