Posted on 05/24/2020 8:28:45 AM PDT by E. Pluribus Unum
White House senior adviser Kevin Hassett on Sunday said the Trump administration is eyeing another round of direct payments to Americans in the next coronavirus-related legislative package, though he said the economy is getting to the point where they might be able to move on to other things.
He called the stimulus checks of up to $1,200 for millions of Americans an “enormously successful part” of federal legislation that Congress passed in recent weeks in response to the coronavirus pandemic.
“I think depending on the state of the economy it’s something that I guess we’d consider,” he said on CNN’s “State of the Union.”
“But right now it looks like the economy’s picking up at a very rapid rate, in which case we could potentially move on to other things that the president has mentioned like the payroll tax cut and potentially even [a] capital gains holiday,” Mr. Hassett said.
Congress is eyeing tweaks to a popular small business lending program for the next round of coronavirus legislation.
Asked about more money for states and localities, which has been a key Democratic demand, Mr. Hassett said there’s already been significant money allocated for that purpose.
“I think that a lot of the requests for state and local bailouts that you’re seeing out there up on the Hill are radically, radically more money than the expected shortfall for the year,” he said. “We’re analyzing the numbers right now and the requests are kind of absurd.”
He said a lot of Republicans are also concerned that the plussed-up unemployment benefits in the $2.2 trillion package that passed in March have made it more...
(Excerpt) Read more at washingtontimes.com ...
Thank you for your service.
The vast majority of capital gains go to the very wealthy.
Meanwhile our government just kicked 40 million people out of work and destroyed the life work of millions of self-employed.
No, cap gains ain’t a priority right now. Grow up and stop sounding like a caricature of of a RINO fat cat.
Don’t care! He’s a million times better then Biden.
If both spouses were working they already received $2,400 from Uncle Sam. “”
They got $1200 + $1200 for the spouses PLUS $600 for each child. $3600 all together.
NO.
CUT ALL TAXES.
REDUCE ALL GOVERNMENT.
Don’t bother returning to us a small portion of what you’ve already stolen.
I want the USA back as well. But facts on the ground are different.
56 million Americans out of work (pre-Wuhanic Plague + Wuhanic Plague + gig/ contract workers), yet Trump allows foreign H1B scabs in by the planeload. Where are these magical jobs?
Oh that’s right. Low-paying subsistence Warehouse, Grocery Store and Gig Delivery Drivers. Seen a list on LinkedIn. What a joke.
One corporation, Kroger, is demanding employees pay back the $2/ hour “hero” bonus they received. Others ending it on May 31. Companies opening back up with 1/4 of capacity, that means 1/4 pay for most.
Expect massive evictions and homelessness starting August 1. Some property management companies are bypassing the courts, and using collection agencies.
Triple whammy for most. Too low a FICO score to rent (due to the judgement), a wage garnishment plus, an entry in the deadbeat renters database. Most renters can’t afford the $3000 or so retainer fee and the pro-bono tenant lawyers are absolutely swamped.
So I guess you are one of those Free Traitors that say piss on the American worker? Indians deserve jobs more...
Inflation is one of the biggest economic problems we’ve had since around 1900 when the feds began to decide they weren’t restrained by the Constitution anymore.
And, yes, many have “forgotten” about inflation and are clueless that the unrestrained growth of government spending and size causes this relentless hidden tax of inflation.
Capital gains drive our entire economy. In securities like stocks and bonds, a lot of gains are made in pension funds and in mutual funds whose shareholders come from all walks of life. Giving a major tax incentive for a "very wealthy" person with $100 million in cash to invest in a new business or property improvement instead of sticking it in his mattress or investing in U.S. Treasury bills has enormous benefits for plenty of "little guys."
Meanwhile our government just kicked 40 million people out of work and destroyed the life work of millions of self-employed.
The "our government" you describe here isn't the one that writes our tax code. If you have a problem with a government shutdown that affected YOUR business, then take it up with the governor of your state.
No, cap gains ain’t a priority right now. Grow up and stop sounding like a caricature of of a RINO fat cat.
I'm a small business owner myself. I'm not wealthy by any stretch. By the end of this month I will have had one of the best three-month periods in my company's history -- because I didn't give a sh!t what my governor ordered me to do when he described my business as "non-essential." If the Federal tax code is changed so that I am given an incentive to invest in capital improvements in my business, I may very well do them this year instead of deferring them until next year. Is that a good enough reason for you?
Oh, stop the hysterics. Do you know anyone who has ever been homeless? If so, was that person's problem due to poor economic conditions, or something else? I've never come across a homeless person who worked in the IT business before he ended up on the street.
The landlords in those cases are screwed -- because they have no leverage. Evicting JC Penney or Nordstrom's or Cheesecake Factory from a retail center does you no good if you don't have another prospective tenant lined up to fill the space. And you can be sure there are no tenants lining up to take that space.
If you are a landlord and you lose three months of rent in 2020, you might consider yourself lucky that it's only three months. But even at just three months, your property has lost 25% of its value in a matter of weeks. And if you had an $8 million mortgage on a property you bought and improved for $10 million, you're now $500,000 in the red and may have no interest in making another payment on your loan.
That is what deflation looks like.
If you’re talking about federal government inference with rent, then those are patently unconstitutional acts and should be rejected and nullified. If you’re talking about state government’s interference, well then it’s up to the people of that state to take action to remedy the issue.
Either way, the answer is certainly not more unconstitutional bloated government acts and spending and more nonsense and inflation.
The answer here, is TAX REBATES and/or TAX CUTS which are needed anyway. Not inflationary and goes in the direction of LESS not more, government.
Hi.
“Just say no.”
My business is still hurting, but it is starting to improve quickly.
Open everything up, and watch the magic.
5.56mm
If Trump removes the H1B and other Indian scabs from this country, I will be 100% against any further stimulus. Until then, I need it to survive.
No
few of my “conservative” friends have raised a peep about this gargantuan deficit spending
Well, wrong is wrong. Tribalism is like a cancer. If we don't oppose this spending now it will be Iraq 10X in 4 or 5 years.
What to do if you receive the check and do not want it?
I would like it best if it could be forwarded to a Republican candidates congressional campaign.
Neocon wars definitely cost the GOP the high ground on almost every major issue.
Nope. Sorry. Not the time for that. As it is the investor class has been bailed out significantly with the big corporate payouts, and the markets have held up quite well. We are talking about the bottom 50 million facing absolute despair, needing to scramble to avoid eviction or foreclosure, battling the serious social cost to this. There will be more than enough bargains for investors scoop up what is left from those who have lost their businesses.
And I don’t need a capitalism 101 tutorial.
If we don’t oppose this spending now it will be Iraq 10X in 4 or 5 years.“
Why don’t we end our endless wars first. A billion a week in Afghanistan. I suspect even more in Iraq. And a lot of black under-radar box spending in Syria. Until all that stops, I’m not going to complain about spending to help out of work Americans (I WILL complain about stimulus money to billionaires, but nobody listens)
I'm not even making a value judgement about whether a state government should -- or even can -- interfere in a foreclosure or eviction process. I'm simply pointing out the DEFLATIONARY impact of a massive loss of income for individuals and businesses who pay the bills that provide value for real estate in this country.
Tax rebates will do little or no good. As I pointed out earlier, the people who are most directly affected by this are hardly paying any taxes anyway. Tax cuts are fine, to the extent that they incentivize productive activity that generates employment for those who ARE most effected.
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