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***jagibelieve*** · 04-20-2020, 03:46 PM

(04-20-2020, 02:19 PM)StroudCrowd1 Wrote:
(04-20-2020, 02:14 PM)TJBender Wrote: The thing about all this and why I kinda sorta understand it is that most chain restaurants and hotels are franchised. It's got the Ruth's Chris name on the sign, but that particular location might be owned by Joe Smith. Ruth isn't hurting, but Joe is, and he needs that loan to make payroll, because the corporate office isn't helping. I'd prefer to see that money go directly to the franchisees and not the company, but to look at a Days Inn sign and say that hotel is doing fine and shouldn't get any stimulus funds shows a lack of understanding of how franchises work. Days Inn is fine. That particular Days Inn has probably laid off most of its staff to keep the lights on.

Says the guy who's whining because his $200k income means he doesn't get a $1,200 Inflation Day present.

My complaint was that the government assumes people in a certain income bracket do not experience hardships from a pandemic.

Let me break it down for you like this. Let's say hypothetically I make 200K a year and 75% of that 200K is from rental property income. When judges won't take eviction cases and people stop paying rent because some talking head on TV thought it was a good idea that directly impacts said person making 200K a year.

See how that whole trickle down thing can impact people making too much to qualify for stimulus relief?

The thing is, where exactly does that 75% of 200K a year go? Dinners at Ruth's Chris rather than cash reserves? Expensive or exotic vacations? Are there mortgages on the rental properties?

I have a very good friend that recently sold his business (property management company) that was pretty successful even with the housing bubble bursting in 2008. Their "income" was in the "hundreds of thousands" dollars even though their bills were close to the same. He also carried a large amount of debt to be able to do it. While his gross was in the "hundreds of thousands" his net wasn't really that much. If I recall correctly he owned 25+ properties and managed well over 200 properties. After selling his business he also sold most of his properties ( I think he currently owns a dozen or so with no mortgage debt).

It goes both ways.

There are 10 kinds of people in this world. Those who understand binary and those who don't.