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Failure of Coronavirus Bill to Address Economic Collapse
Armstrong Economics ^ | 3/25/2020 | martin armstrong

Posted on 03/25/2020 1:57:18 PM PDT by slowhandluke

...The relief for small businesses is not adequate. A tax credit for some small businesses for 50% of wages paid to employees during the coronavirus crisis is absurd. Most have been ordered to be closed so there were no wages and they had to fire employees so they could collect unemployment. They need business loans suspended and property taxes. That will put pressure on states to lift the absurd closures.


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: coronavirus; covid19; economiccollapse; failure; incometaxes; notrelief; smallbusinesses; taxcutsandjobsact; taxreform; tcja
As usual, lots of pork in a bill that doesn't even fulfill its basic purpose.
1 posted on 03/25/2020 1:57:18 PM PDT by slowhandluke
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To: slowhandluke

I wonder what this bill would look like if there were less then 40 rats.


2 posted on 03/25/2020 2:04:36 PM PDT by gibsonguy
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To: slowhandluke

Figures! I loathe those political pigs.


3 posted on 03/25/2020 2:05:46 PM PDT by DivineMomentsOfTruth ("There is but one straight course, ad that is to seek truth and pursue it steadily." -GW)
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To: slowhandluke

Yep, property taxes are due April 10 in California. Of course, those aren’t delayed.


4 posted on 03/25/2020 2:08:19 PM PDT by BookmanTheJanitor
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To: slowhandluke

As usual, lots of pork in a bill that doesn’t even fulfill its basic purpose.

*************

Yep, situation normal. Its why we already have a $23 trillion debt.


5 posted on 03/25/2020 2:09:09 PM PDT by Starboard
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To: BookmanTheJanitor
in California

Well, there's the problem right there...Sorry, I can poke like that as I lived in NorCal for over 25 years.

6 posted on 03/25/2020 2:11:50 PM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: DivineMomentsOfTruth

Reject any house bill. Let Pelosi explain why she flucked the whole country.


7 posted on 03/25/2020 2:12:19 PM PDT by hflynn
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To: BookmanTheJanitor

“Yep, property taxes are due April 10 in California. Of course, those aren’t delayed”

Full disclosure, for most people half of your yearly property tax in Kalifornia was already paid on Nov. 1st.


8 posted on 03/25/2020 2:15:54 PM PDT by DAC21 ( and Naflet had demint)
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To: slowhandluke

Oh look, a blogger who thinks he’s an economist...

Ignoring.


9 posted on 03/25/2020 2:27:29 PM PDT by bigbob (Trust Trump. Trust the Plan.)
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To: slowhandluke
Ankle-biters unite!

There will be things about this bill I won’t like. You’ll never please everyone.

I don’t think taking pot shots at it is going to be very productive.

10 posted on 03/25/2020 2:31:13 PM PDT by DoughtyOne (Hi! My name is Larry, and I'm a COVID-19FearPhobicAholic. Hi Larry, welcome. We've been there.)
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To: slowhandluke

It would seem to make more sense to pass a bill that deferred debt payments for big ticket items (mortgage, rent, car, student and other long-term loans) for 60 days and let the existing unemployment comp provide the day-to-day expenditures on food, utilities, etc. This bill is a boondoggle that looks like a pork taco. And once politicians get a bill passed that gives away money (and hence buys votes), it will be hard to kill it.


11 posted on 03/25/2020 2:32:39 PM PDT by econjack
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To: slowhandluke

before this is all said and done they will need to cancel 2019 personal income tax and refund what has been paid over the next year.


12 posted on 03/25/2020 3:10:00 PM PDT by mo ("If you understand, no explanation is needed; if you don't understand, no explanation is possible")
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To: DoughtyOne
Thank you - injecting some common sense about the realities of the world we live in....again...

Stay well, FRiend

13 posted on 03/26/2020 2:44:39 AM PDT by trebb (Don't howl about illegal leeches, or Trump in general, while not donating to FR - it's hypocritical.)
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To: trebb

Thanks Trebb. You too.


14 posted on 03/26/2020 1:40:49 PM PDT by DoughtyOne (Hi! My name is Larry, and I'm a COVID-19FearPhobicAholic. Hi Larry, welcome. We've been there.)
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To: bigbob
So, does it get money to the folks in need? Tell me, oh wise one!.
15 posted on 03/26/2020 4:23:38 PM PDT by slowhandluke (It's hard to be cynical enough in this age.)
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