Redistribution...sorry, but thats what this is. Shame on us. Should have used the same amount to shore up the states unemployment systems. Should not be paying people the same wage for being unemployed as when employed. Should have given a tax holiday on SSI tax instead. That would put more money into workers pockets, and saved employers huge matching costs, freeing up money to keep employees on payroll... IMO
> “Redistribution...sorry, but thats what this is.”
No, there’s another way to view it.
Vast majority of people pay taxes, very few do not pay taxes.
The $1200 is a return of personal taxes. The problem is not in the returning of taxes but returning too little of personal taxes.
$1200 won’t even pay an average month’s rent in some locations.
I might normally agree with you, but this is a very unusual scenario. These “redistribution” payments are mainly aimed not so much at supporting people and families directly, but at ensuring that they can continue to meet their financial obligations to others.
Here’s what it would have looked like if Hillary had been elected President: (Nancy’s list)
http://www.freerepublic.com/focus/f-news/3828142/posts
Also, on Monday, Nancy proposed a 1,100-page bill that did provide some help for America’s workers, small businesses, and corporations. Most of the bill, though, was given over to Democrat wish-list items. If coronavirus had hit America with a Democrat in the White House and a Democrat majority in Congress, by Monday’s end, a new law would have
* raised the federal minimum wage to $15,
* subsidized student loan debt,
* provided more funds for PBS,
* funded the IRS and the Postal Service,
* mandated race and gender diversity for corporate boards,
* implemented same-day voter registration
* required airplanes to be carbon neutral in five years,
* as well as a host of other initiatives pandering to social justice, environmental, and union concerns – and all of it would ostensibly have been done to protect American workers from coronavirus’s ravages on the economy.
Money should go to all workers who have lost income.
Looks like a bust from my small business. $10,000 is a pittance. I paid my SBA loan off last year after never missing a payment during the Great Recession and getting zero help in refinancing to a lower interest rate.
So far we’ve had over $120,000 in orders through the end of April cancelled and the phone is NOT ringing.
How long do I make my $35,000 per week payroll with $10,000 in assistance.
I don’t think their $1200 per adult is going to cover very much of lost wages. At their precious $15 min wage, that 2 weeks pay. My lowest wage in my company is $18.75 per hour. As I’m sure is the case with most companies.
The Senate and the House are useless. Actually, they are worse than useless, they are wrecking balls.
Time to go back to work people. Screw the shut downs.
CUT TAXES.
Don’t take our money and then pretend you are giving us something back.
Count our blessings... Nancy’s rejected partial list:
http://www.freerepublic.com/focus/f-news/3828142/posts
Also, on Monday, Nancy proposed a 1,100-page bill that did provide some help for America’s workers, small businesses, and corporations. Most of the bill, though, was given over to Democrat wish-list items. If coronavirus had hit America with a Democrat in the White House and a Democrat majority in Congress, by Monday’s end, a new law would have
* raised the federal minimum wage to $15,
* subsidized student loan debt,
* provided more fun;ds for PBS,
* funded the IRS and the Postal Service,
* mandated race and gender diversity for corporate boards,
* implemented same-day voter registration
* required airplanes to be carbon neutral in five years,
* as well as a host of other initiatives pandering to social justice, environmental, and union concerns – and all of it would ostensibly have been done to protect American workers from coronavirus’s ravages on the economy.
Spot-on.
It is fundamentally unfair that working Americans had their incomes and livelihoods curtailed by government edict, yet legal fictions - contracts, debt obligations, etc - continued to tick away, collecting interest & arrears as if completely unaffected by current events. That is patently untrue, because of course we all in this together - both wage earners and asset holders.
So Trump had a few choices. He could have just as easily forced an executive decree - just like FDR did when he confiscated gold and then immediately re-valued it. Instead, this method works essentially the same way, in that we will flood the markets with $2.5 new money created out of thin air. Income earners get a check, and asset holders see their real values go down by a nominal degree.