Originally posted by dadudemon
Today is an important day for Q4 2020 on COVID-19 deaths.If we see an increase (from 7 days ago), the trends in new cases were predictive.
If we see a decrease (from 7 days ago), the trends in new cases are weakly predictive. Meaning, we won't see 4,000 deaths in a single day, 11-20 days from Nov 20th (where we hit peak new cases).
For anyone interested in this, we don't want people dying. We want to see trends where if people test positive, proportionally, people don't die in direct proportions like we saw in April.
In the beginning of the Pandemic, in the US, new cases were highly predictive of deaths. "The death lag" as it is called. These days, because of how much testing we are doing, the predictive power is much weaker. If I have time, I can do an "r-squared" analysis to see how accurate it is at different points.
We saw an increase in cases. However, they were not proportional to the new cases. So we landed somewhere between the two extremes (that there is no correlation vs. there is a strong correlation).
Also, heard a great idea for a stimulus bill that should get passed: as long as daily deaths average over 100 for a rolling 7 day period, for the entire US, all income and payroll taxes are dismissed. And this is a rather easy formula:
((52 weeks - number (x) of weeks with over 100 COVID-19 deaths)/52) * your final total tax burden for that year.
12 weeks this year had 100 deaths or fewer for a 7 week period.
So if your total tax burden for this year is $10,000 and you already paid $9,000, your new tax bill is:
((52-40)/45)*10,000 = $2,667. Since you already paid $9,000, your final tax bill is: $2,667 - $9,000 = -6,333 or a refund of -6,333
This doesn't account (pun intended) for tax credits or tax deductions. It's just a bottom line calculation.
Guess who would benefit the most from this, by the raw dollars?
🙂