Stimulus & Bailout Watch Thread

[the cac mamba]

The article you posted even dais 42% of people may be making more in unemployment. 42% isn’t most

it says 68

 

[Yapdatfool]

i dont think we should or can be locked down past the end of june thats where im coming from

Keep it a buck. You think we should have never closed at all. If that's how you feel jut say that

 

[the cac mamba]

Keep it a buck. You think we should have never closed at all. If that's how you feel jut say that

no, i think we should have closed until the hospitals caught up. and we've passed that point

havent i said that the whole time? if not, i'll say it now. i think LA county closing through august is fukking insane

 

[Yapdatfool]

no, i think we should have closed until the hospitals caught up. and we've passed that point

havent i said that the whole time? if not, i'll say it now

Isn't that different state to state? So some close and others stay open, gotcha.

 

[the cac mamba]

Isn't that different state to state? So some close and others stay open, gotcha.

sure anywhere whose hospital is overwhelmed should absolutely stay shut down

that was the point of the shutdown originally, i thought. not to shut down until no one has it; that's never going to happen

 

[NeilCartwright]

actually i posted an article earlier that says my friend is one of 70 percent of workers, who would get a raise under the bill.here you go

Many Americans Are Getting More Money From Unemployment Than They Were From Their Jobs

which is fine, by the way but it means that they didnt get "fukked over". obviously people should get hooked up with money in this crisis

I’m quoting this but speaking in general

Yea ppl may be making a little more on unemployment for these couple months but what’s wrong with thatthe big dawgs been making out like a fat cat for years. People saying 6k is too much but the big dawgs playing the game on another level. Ppl were finessing those forgivable PPP loans (if they were able to get an application through).

I brought up business owners bc of all the advantages a business gets in this country. The tax code was written for them. I got homies who got their own companies and I do myselfrest assured if most of them get more in revenue ain’t nothing trickling down. That’s a myth

I bring that up bc once you see how they move and how the game is played you wonder how people can support laws that don’t support them what makes it worse if you’ll realize any jackass out here can turn 100k into 200k in 5 years, minimum. They just came out the womb with a head start.

So it’s just strange all around to see people against more money in their pocket, and if you paid on a W2 or 1099 you a working man. If them folks up in DC wanted to make something shake they would

 

[the cac mamba]

I’m quoting this but speaking in general

Yea ppl may be making a little more on unemployment for these couple months but what’s wrong with that

theres nothing wrong with it, but ppl are talking about the bill "fukked workers over" and i cant help but when i think of my friends who got a raise off it. thats all

let the government print away, i dont give a fukk as a matter of fact, why not give everyone 50 thousand dollars?

 

[Truefan31]

theres nothing wrong with it, but ppl are talking about the bill "fukked workers over" and i cant help but when i think of my friends who got a raise off it. thats all

let the government print away, i dont give a fukk as a matter of fact, why not give everyone 50 thousand dollars?

3 trillion is enough to basically give every qualified American 10000. Some left to give to hazard pay too. Probably the least bureaucratic way to get money into people’s hands.

 

[the cac mamba]

3 trillion is enough to basically give every qualified American 10000. Some left to give to hazard pay too. Probably the least bureaucratic way to get money into people’s hands.

i'm all for that fukk pelosi funnelling money into her friends' pockets. give everyone ten thousand dollars

 

[Truefan31]

i'm all for that fukk pelosi funnelling money into her friends' pockets. give everyone ten thousand dollars

yes. Both sides always with an agenda.....

 

[Rickdogg44]

i'm all for that fukk pelosi funnelling money into her friends' pockets. give everyone ten thousand dollars

I'm probably not getting shyt again

6Certs 6Bodies

^ who had that in their signature

 

[BK The Great]

 

[OfTheCross]

I found this to be a great summary of events


The four major packages enacted in response to covid-19 so far

 

[voltronblack]

No Paycheck Guarantee Act
Spearheaded by Representative Pramila Jayapal and the Congressional Progressive Caucus, the Paycheck Guarantee Act would have guaranteed 100 percent coverage of workers’ wages up to $90,000 a year. The sponsors argued that given the economic carnage inflicted by coronavirus, Congress needed to “think bigger” and offer “workers as well as businesses, nonprofits and local governments of all sizes a better path forward in this uncertain environment.”

Interestingly, an analysis by Moody’s chief economist, Mark Zandi, estimated that the net costs of the program would be $654 billion over six months, which is actually less than the two rounds of small business loans approved by Congress as part of the Paycheck Protection Program. Another interesting feature of the proposal would have taken out banks as the intermediary to disburse payments, instead facilitating payments straight from the IRS to employers.

Exclusion of the Paycheck Guarantee Act led to a mini-rebellion with progressives initially threatening to vote against the HEROES Act. Most members eventually fell in line with Speaker Nancy Pelosi and voted in favor of the HEROES bill.

No Recurring $2,000 Monthly Stimulus Checks
The HEROES Act included a proposal for a second round of direct payments to Americans - $1,200 for an individual, $2,400 for joint filers, and $1,200 for up to three dependents. This one-time infusion of cash would provide relief to many Americans who exhausted their funds from the first round of stimulus payments, received a lower amount than anticipated, or are still waiting to receive it.Pelosi and Democrats chose the single-payment route instead of a recurring stimulus payment that would have provided ongoing relief for up to 12 months. Representatives Ro Khanna and Tim Ryan had introduced The Emergency Money for the People Act, which had attracted increasing support from other House Democrats. Other similar proposals were introduced by Pramila Jayapal and Rashida Tlaib in the House as well as by counterparts in the Senate, including a proposal by Ed Markey, Kamala Harris, and Bernie Sanders that would provide a monthly $2,000 check to those struggling to make ends meet during the COVID-19 pandemic. “A single check is not sufficient for households that are struggling during this health and economic crisis.” said Senator Markey. “Americans need more than just one payment.”

No Automatic Stabilizers
As argued in a previous column, “there is a looming disconnect between the sluggish speed of recovery and the duration of unemployment benefits that were included in the $2 trillion CARES Act passed by Congress.” This problem could have been solved through the use of automatic stabilizers, which would have tied federal aid to economic conditions. Use of stabilizers would have removed the need to continuously pass additional legislation for more aid, instead, automatically extending aid, such as enhanced unemployment insurance, until the economy recovers.The Worker Relief and Security Act, introduced by Senators Michael Bennet and Jack Reed, along with Representative Don Beyer, aimed to align relief with the span of the COVID-19 pandemic as opposed to allowing benefits to lapse after a fixed period of time. However, this proposal, along with automatic stabilizers of any kind, were left out of the HEROES Act passed by the House. Instead, the bill would simply extend the enhanced unemployment benefits through January, 2021. “There were a lot of important priorities, and this wasn’t at the top of the list, unfortunately,” said Don Beyer.

No Improvements To Get Funds To Individuals Quicker and More Accurately
Problems with the CARES Act weren’t limited to eligibility or duration of funding, they also involved executional mistakes. The process of delivering funds to individuals and small businesses was riddled with friction and complexity. Many individuals have still not received their stimulus checks from the CARES Act. Others received checks, but for a lower amount than expected and are being told by the IRS that they won’t be able to receive the difference until 2021 when they file their taxes. Instead of spending over 1,800 pages on futile proposals, many not germane to the coronavirus pandemic, it would have behooved Democrats to develop proposals to deliver funds more quickly and more accurately to Americans.

 

[FAH1223]