Stock Market Crash

[Highland Deac]

Republicans add last minute poison pill allowing states to kick people off of Medicaid. Cruel if it passes and blame the Democrats if it fails. GOP gets a win either way.

And what's infuriating is that the Republicans have been claiming that it's the Democrats who are using this crisis to "play politics." Yet they add shit like this and most people just shrug. But LibDems holding up the bill to force Republicans to accept better provisions and conditions for workers instead of just corporations, and to add more accountability for corporations? The horror! How dare they!

 

[WakeForestRanger]

 

[Liquid Karma]

Where is Lindsay Graham coming up with this 24/hr unemployment wage?

 

[PhDeac]

Simple fix. Pay people more for actually working.

 

[dartsndeacs]

He does have somewhat of a point here though, as I've done the math. This makes layoffs significantly easier for companies if a large portion of employees (basically anyone making around $50k) would get the same amount of money free from the government than if the employers paid for them.

Granted, businesses usually always cut people anyways if they can live without them, but with revenues temporarily drying up and people working from home anyways, it makes it really easy for companies to pull the plug. However, it helps the people be more secure, so it's likely just something you have to live with.

 

[TownieDeac]

the bill is fucking atrocious, the more i read

does nowhere near enough to help people in need, will in some cases actively hurt vulnerable people, and still manages to fit some corporate welfare in

 

[PhDeac]

the bill is fucking atrocious, the more i read

does nowhere near enough to help people in need, will in some cases actively hurt vulnerable people, and still manages to fit some corporate welfare in

That's what any bipartisan bill is going to look like.

 

[Deacfreak07]

the bill is fucking atrocious, the more i read

does nowhere near enough to help people in need, will in some cases actively hurt vulnerable people, and still manages to fit some corporate welfare in

Just as the founders intended.

 

[ConnorEl]

In NY, 30,000 retired doctors and nurses returned to work to help.

They aren’t the crowd who quit for an easy check.

Who knows? NOW maybe they'll quit to get that sweetheart deal Graham/Republicans are worrying about!!

 

[ImTheCaptain]

the bill is fucking atrocious, the more i read

does nowhere near enough to help people in need, will in some cases actively hurt vulnerable people, and still manages to fit some corporate welfare in

marginally better

 

[WakeForestRanger]

 

[WakeForestRanger]

 

[WFcatamount22]

the bill is fucking atrocious, the more i read

does nowhere near enough to help people in need, will in some cases actively hurt vulnerable people, and still manages to fit some corporate welfare in

Hey townie l, for those of us, like most Americans, to dumb to parse through this thing.
What specifically in it should we be upset about. Asking from a good place.

 

[deacdiggler]

I'm wondering the same - also from a place of genuine curiosity.

On the corporate welfare, it is important to keep some of these large companies from having to shut down, so the loans (with strings attached) to airlines, etc. don't bother me too much. Are they flat out GIVING any money to any large companies? If so, I'll share annoyance on that.

The corporate tax cuts are primarily a timing difference - letting companies use losses and interest deductions now instead of years later, although there is a rate differential that is a real benefit on the carrybacks. Deferring payroll taxes on the employer side is another timing difference.

What else?

 

[deaconson]

Quagmire really coming across as a miller bestie. Shocking.

 

[WakeForestRanger]

 

[TownieDeac]

Hey townie l, for those of us, like most Americans, to dumb to parse through this thing.
What specifically in it should we be upset about. Asking from a good place.

I'm wondering the same - also from a place of genuine curiosity.

On the corporate welfare, it is important to keep some of these large companies from having to shut down, so the loans (with strings attached) to airlines, etc. don't bother me too much. Are they flat out GIVING any money to any large companies? If so, I'll share annoyance on that.

The corporate tax cuts are primarily a timing difference - letting companies use losses and interest deductions now instead of years later, although there is a rate differential that is a real benefit on the carrybacks. Deferring payroll taxes on the employer side is another timing difference.

What else?

First, no I haven't read all 800 pages, just going over the analysis from people I like. No cash giveaways but they did totally capitulate to Boeing in the end, just called them a defense contractor and moved on.

Most stuff is completely impenetrable to the public and we won't learn about its impact for years to come. The lobbyists came HARD after Dems while this was being worked. Mostly retail and restaurant lobby stuff. Dems crowed about stopping the President from enriching himself, but the hotels section is pretty hilariously written. It's probably not the worst thing to lower cash reserve requirements for community banks.

To me, the two most egregious things I've seen are for profit colleges getting to keep federal loan money for dropped out students (already a predatory industry) and extension of federal funding for abstinence only education. Those are what is in the bill. What isn't, in the form of direct payments and social safety, is the worst of it.

As others have said, what you'd expect from a bipartisan bill.

 

[Biff Tannen]

And $7 million for Galludet.

How much is Wake getting ?

 

[Wakeforest22890]

He does have somewhat of a point here though, as I've done the math. This makes layoffs significantly easier for companies if a large portion of employees (basically anyone making around $50k) would get the same amount of money free from the government than if the employers paid for them.

Granted, businesses usually always cut people anyways if they can live without them, but with revenues temporarily drying up and people working from home anyways, it makes it really easy for companies to pull the plug. However, it helps the people be more secure, so it's likely just something you have to live with.

Yeah it may incentivize layoffs but that doesn’t mean that you’re making MORE money where the employee has incentives to quit. As townie pointed out it’s very difficult to draw unemployment if you quit (sans showing “constructive discharge”) so the “people will quit and make more money” line makes zero sense. I think it’s more likely these senators didn’t understand or temporarily forgot how unemployment works.

 

[RJKarl]

In Gaetz's world, how could he expect black professionals to be smart enough to help find a cure?