저자: Kevin · 외국인
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재무장관 므누신 인터뷰를 소개하며 경기부양 직접지급(1인당 600달러, 4인 가구 2400달러)과 PPP 재배분, 직원유지세액공제, 임대지원 등 12월 말 패키지 내용을 정리. 지급금이 주식시장으로 흘러드는 점을 언급하며 경기 회복 기대를 전함. 영상 후반에는 강좌·코upon 홍보가 주를 이룸.
다듬은 글
Hello everyone, this is Kevin. Treasury Secretary Mnuchin just gave an interview and said when the stimulus payments will arrive . He also explained how rental assistance will work. Provided more details regarding the PPP program. He spoke in more detail about his vision of the economy and how people are simply investing their stimulus checks in the stock market.
Friends , there is a lot of information in this interview , and we got a lot of new details. Let's get straight to the point. Of course, right after I remind you to use the coupon below to join the courses on creating wealth through stocks and real estate. Join my live broadcasts every day when the market is open.
And of course, email me about a package deal at kevinmeke.com if you want to purchase multiple courses. So, friends. Let's listen. Well, we are definitely in a much better position. And there's no doubt that the first bill, the CARES Act, is the reason we're where we are today, and the economy continues to recover, but as we've talked about, there are parts of the economy that are still very much hit.
As you know, we have been working for months on additional funds for these sectors of the economy, and we are extremely pleased that we managed to do this by the end of the year. The president wanted direct payments, so next week we will send direct deposits. I expect we will send the money by the beginning of next week.
$2,400 for a family of four. Such much- needed help just in time for the holidays. So, I'll pause here and just note that the beginning of next week is the 28th. The last time they sent checks, they arrived on Wednesday . They started shipping them on Monday. They started arriving, maybe some people got them on Tuesday , but many got them on Wednesday.
So Wednesday the 30th now looks like a potential date. But keep in mind, when Mnuchin says “before the holidays,” I think he means before New Year’s, since most holidays will be over by the 30th . But this is good news. Money can come in pretty quickly. This is also interesting. Donald Trump on Twitter and through Steve Mnuchin here is trying to take credit for the stimulus payments, which, you know, I'm not saying whether that's good or bad, but it's something to watch from a political standpoint.
Everyone will try to take credit for these $600 checks, which I think I read today are more like an antidepressant than a stimulus. In any case, let's begin. We also have the continuation of the PPP program. You know how important this was , Jim, for small businesses, especially restaurants. So, not only are we reallocating $140 billion that was waiting for approval, but we also have significant other funds— over $325 billion directed to small businesses, much more targeted.
Congress also agreed to restore tax deductions under the PPP program. That's good. This is good for PPP expenses, ensuring they are tax deductible. So this will be additional help for small businesses. And I think you know that the president is particularly concerned about restaurants. So we have restored the ability to deduct meal expenses for business people.
We are extremely satisfied. We've been going at this for too long, but as we've said, it's about children, jobs, and vaccines. Earlier on our broadcast, Senator Toomey said, " Wait, about the $600, because 93% of the people in this country are employed, and many of them will receive $600 ." And is it fair , or should they only go to those who are unemployed?
Pat Toomey constantly seems like the Republican who comes in and says, " Let's just do less." " Let's take power away from the government. " Which, I suppose, is consistent with the Republican Party's position in this case. Well, I think, you know, the good news is that this is a very quick way to inject money into the economy.
And again , let me emphasize that people will see this money early next week. So, it's very fast. This is money that will circulate in the economy again. So people will go and spend this money, it will help small businesses and help people get back to work. You are right, the good news is that the unemployment rate has dropped significantly.
I think you know that at the beginning of the year we were worried about something like the Great Depression, but now it's much more focused. I expect this will be needed for a short period of time, and I think it will help us get through the recovery. And let me tell you, I will deny it. I heard your comments about vaccine distribution.
I think the Ministry of Defense and the Ministry of Health have a great plan. This "Warp Speed" project, in which the president has invested literally billions and billions of dollars. Good. So, he's talking about a vaccine now. We'll get back to this in a moment. I just want to say that he's right about the velocity of money in how often the dollar circulates, right?
So if you give a stimulus check and someone spends it on something, that dollar can go around the economy four, five, six times, unfortunately, a lot of our money supply is n't circulating as actively in the economy because a lot of people are saving right now. Many people are investing money in stocks or paying off debt, which is good.
These are very frugal things for individuals, but for the economy, they can actually hold us back. So if people start to transition back into the role of consumers, that will really impact corporate profits in 2021. It really paid off, and there is a huge difference between where we are now and where we were at the beginning of the year.
OK. So, I understand that and I think “Warp Speed” did amazing things. I've said this before. How do people in small businesses actually get this money? Is this the same system as last time? And what do you do with those who don't survive, Secretary Mnuchin? Many of them simply did not survive to this day.
Well , you're right. This is unfortunate, and we've said before that our work isn't done until we get everyone back to work, and that's what this is all about . This is a similar distribution to last time for the PPP program. Additional targeted programs will also be created. Let me tell you that under PPP, if the business has decreased by 25%, they will be able to get a second check.
We also added tax breaks for employee retention, up to $10,000 per quarter per person. This is also a very big incentive for small businesses. And, I... It'll be interesting to see how many blocks we get this for. So that's actually good to know. So we have $10,000 per quarter per person in companies.
So this employee retention credit is an employer-administered credit, right? So that's something they'll have to deal with, but we'll get more details on that. In fact, this will have a much-needed major impact, as well as additional funds under the PPP, especially for hotels and catering, which have been hit hard.
Mr. Minister, this is David Faber. We've talked in the past, of course, about discussions about direct aid to states and municipalities. This is not in this bill, but they could potentially use the available money differently. And I think at least some help will come to some of these transportation departments.
Can you talk a little more about how, without providing direct assistance, you can at least stabilize some budgets a little? Well, as you said, there aren't even any questions here. I mean, first of all, let me say that we put a lot of money into schools. We allocate over $80 billion to schools. We want to make sure that children can safely return to school when it is appropriate .
And these are costs that usually fall on the states. The funds we sent to the states last year, we allowed to use for another year. And again , this was for COVID-related expenses. We spend a lot of money on vaccines and their distribution so that everyone gets vaccinated for free, and we get them to people.
So there's no money to cover the revenue losses, but there are plenty of other funds, and let me point out that places like California are having record tax revenues due to capital gains as the market recovers. Yes. Keep in mind, in a state like California, which has a very high income tax, there is no capital gains tax, which means you pay regular income tax.
So if you sell stocks that you've held for over a year, you don't get any benefits in a state like California. Is this another reason to leave California? I guess I need to talk to Lauren again. Minister, one thing I'm trying to find out about is some of the groups that received money, and I think people will be concerned about that.
Live performances, local newspapers and broadcasters. I assume I'm not the beneficiary of this, but it's always worth asking. Airline payroll funds. This all looks like a situational choice. You've always been interested in small business and business interruption insurance. Eh, I don't understand how these specific items about entertainment events and local news, how did they get there?
Well, Jim, as you know, whenever it comes to closing a deal, there are a lot of compromises to be made. By the way, this is a Democratic position, Schumer insisted on the inclusion of the SOS act, that is, the "Save Our Stages " law, which specifically provides funds to concert venue operators. And we expect that to also extend to the provisions of the PPP program , where you get this additional support for broadcasters and so on .
This is necessary. So, you know, I think this bill as a whole is just wonderful. As for the airlines, there was broad bipartisan support for them. I think you know, if we hadn't provided the funds earlier and allocated additional money, we wouldn't have an aviation industry. So we really need to keep the airlines alive so that when the economy recovers and people can travel , they're ready.
Airline employees were injured through no fault of their own. There are certain funds for so-called small venues. Again, these establishments were closed through no fault of their own. But, as you said, this is a big bill , and it has a little bit of everything for everyone. Regarding renters, can you discuss how this will help people stay in their apartments?
Every fourth, even every fifth house is rented. How do you calculate the rent and how can these people apply for such assistance? Good question, Jim. As you know, there are many things that the President and I would have done much earlier when we literally had hundreds of billions of dollars that we simply couldn't spend, and rent was one of them.
The president imposed a moratorium to help those who have suffered the most . But this is a much better program. Now it's housing rental assistance . It will be routed through the states. The states are doing a much better job of implementing this than if there were another federal program. That is, each individual state will have its own method of obtaining rental assistance.
This will be interesting. And I think it will take some time to adjust. During the CARES Act, it took states three to four weeks to roll out such programs. And this will be much- needed help, again, very targeted for those who really need it. Secretary, Jim and Carl and I have spent a lot of time discussing the fate of restaurants over the last nine months , and I mean how important they are to our overall economy.
Some of the numbers are simply staggering. Somewhere around 900 billion, that's how many people work directly or in related industries serving these restaurants. So what do you say to a small restaurant owner about how this bill will help them stay afloat, especially if they, for example, here in New York, rely solely on outdoor service during the colder months?
By the way, the impressive statement that restaurants account for $900 billion of the economy is impressive. Imagine the economy as a kind of national pie worth 21 trillion. 900 billion. This is approximately one twenty-fourth of the economy. This is a good piece. Well, you're right. People don't realize how big the restaurant industry is as an employer.
These are mostly very small enterprises, but with a very large number of jobs. And, unfortunately, many restaurants were forced to close. They simply could not survive. There were people who were waiting for the second payment under the PPP program and simply did not wait. But the good news is that for those businesses that survived, this will be the help they need to survive the next year until a vaccine is available.
And, as you said, we have areas of the country where you can only eat outdoors. We have areas of the country where it is impossible to even eat outdoors. I, I, I have to say, you know, listening to the medical experts, I still think that eating outdoors with proper social distancing and wearing masks while driving to and from restaurants is something that I think can be implemented in many places .
But you're right , the restaurant industry has been hit particularly hard, and once again , Congress has decided to restore the ability to deduct, both for meals and for restaurant expenses. So this is an additional tax break for these small businesses. Mr. Minister, these funds for restaurants were a topic that concerned you greatly .
And you felt that at some point the Federal Reserve money might come back to you and Congress. Then he talks about the 133 objects, how wonderful they were, even though they were rarely used, and says that now we have a compromise. But let's get to what Jim Cramer asks next. In our world of $600 per person, I have Robinhood on the air tonight.
They will tell you that a huge portion of this money went to them. I mean, there's actually no limit to that $600. There are many people, many young people, who have invested in them. There is nothing wrong with this. But shouldn't it have been made more targeted, like food stamps? How do you feel about the possible unintended consequences of people putting money into investments?
Jim, first let me say that there is funding here for food, food, as you said, and agricultural support . There is money for childcare. There is even provision for broadband internet so that children can have access to it. There is money in the provider assistance fund for medical programs. Again, the effectiveness of direct payments is that they enter the economy very quickly.
As you said, you can't make them targeted. But the fact that we can inject that much money into the economy in one week, believe me , I've talked to many CEOs who have seen their businesses start to grow the minute the money hit their accounts. And if some who had extra money were lucky enough to invest it in the stock market at 18 or 20 thousand, they are feeling pretty good today.
Certainly. He seemed to have brushed the issue aside. He was like, "Hey, listen, if people end up investing in the stock market, so what?" Okay . So, we just got a lot of interesting information from Treasury Secretary Mnuchin. States will manage rental assistance programs , which will be another test.
We'll see how it goes. If people invest this money—so be it . Treasury Secretary Mnuchin says stimulus payments are impacting the economy quite quickly. So, who knows? Perhaps this will push the stock market to new highs again. We found out when the stimulus payments will arrive . We received a lot of information from Mnuchin.
I would say it was a successful interview. So, of course, a big thank you to CNBC. I'm still honored to have been able to participate in the CNBC broadcast, which I'll leave a link to below if you'd like to watch it. And people, see you in the next video. Just don't forget to check the discount coupon below for the courses and email me if you want to purchase the kit. Thank you all. See you later.
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