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The first US layoffs from the coronavirus are here
- forkexec 7y agoThe recession has begun. This usually isn't good for politicians' re-election chances.
- ukulele 7y agoThere are a LOT of businesses running on thin margins and making just enough to cover costs each month. Even one month of things going to zero will ruin a whole host of restaurants, sole proprietors, real estate speculators, and on down the chain. I hope I'm wrong, but this kind of instant systematic reduction in the economy feels unprecedented within the last 50+ years.
- Pfhreak 7y agoThere are so many knock on effects of all this -- people will be unemployed with limited unemployment at best. They'll potentially lose their healthcare, and in the worst cases their homes. Schools are closing in Seattle, and they won't have lunch programs running until Monday which means a lot of kids are likely to go without adequate food. We need to fix the safety net in our country, so when things like this happen we can all chip in to cover each other. Basic healthcare, affordable or public housing, eviction protections, food programs. These aren't radical ideas, we ought to be out here looking out for all of us.
- ngngngng 7y agoWe definitely need to fix a lot in this country, but then the only people that have ideas on how to fix things also want to tax options at vest or do any number of other insane things that will completely out weigh the good changes.
- mvid 7y agoPeople having healthcare isn’t worth taxing options at vest?
- donavanm 7y agoWho gets options? The vast majority of public (tech) firm comp like this is done via RSUs for the last 20 years. Which, SURPRISE, is literally taxed as income at vesting at the vested value. It even shows up on the same W2 as regular paychecks. So 1) isn’t this how it works already 2) why are RSU/options the equity you want to tax anyways?
- Pfhreak 7y agoWe're talking about basic food, shelter, and medical care. You don't think that maybe you could accept a small tax on your stock?
- ethanwillis 7y agoThey don't have to go hand in hand? Sticking someone with a massive tax bill for unrealized gains doesn't do anything to help the former. If you haven't realized gains in a practical sense there's no money to pay the "small tax" with.
- Pfhreak 7y agoIt's definitely not the first tax I'd choose to pay for all this. But it's the one the parent comment mentioned. I'd much rather see wealth taxes or raising income taxes, etc.
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- adrianmonk 7y agoSXSW already had big layoffs. They canceled the festival on Friday, and then on Monday (two days ago), they laid off over 50 people, about 1/3 of their full-time employees: https://www.austinchronicle.com/daily/news/2020-03-09/sxsw-lays-off-some-50-employees-after-cancellation-of-2020-festival/ https://www.austinchronicle.com/daily/news/2020-03-09/sxsw-l...
- zappo2938 7y agoThis is the calm before the storm. Expect riots.
- forkexec 7y ago"Riots" is an ignorant, dismissive term. Expect revolution.
- thecolorblue 7y agoIt starts as a riot. If we can keep our composure, it will turn into a revolution. EDIT: To explain my point a little better, a revolution starts with tearing something down. Tearing down town centers is not very productive but tearing down institutional racism is. The second half of the tear down is the important part. Is it replaced by something better?
- xbmcuser 7y agoThe stat that was going around that a few years agos 6 in 10 americans don't have enough savings to meet $500-1000 sudden expense and at the time it was ridiculed. Now when all 6 need the money suddenly and they can't borrow from their friends. Shit will really hit the fan.
- forkexec 7y agoA bloody revolution has the momentum to cure a good amount of the corruption and redistribute what the aristocratic class stole.