because the unpopular shit they want to pass is DOA if they do this. The entire point of the stimulus is to pass all the unpopular shit and throw just enough crumbs to the people so they don’t notice.
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You can buy a trimmer for that and save time and money.
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Absolutely. Years ago, I saw a lobbying effort first hand where some Wall Street fat cats big leagued everyone by making the right donations and hiring the right lobbyists to get Chuck to rewrite draft legislation the way the Wall Streeters, aka his “New York Constituents,” wanted it.
I can’t go all the way. I look like a peeled onion
Ditto dude. That’s why I use a trimmer and don’t shave it.
Don’t call it a comeback!
Let’s call it a rescue.
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TIL Not having more than 1 week’s worth of cash <> acting recklessly.
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You have cash? You can cover more than 1 weeks worth of churn? Give it to us. We want buybacks and dividends, we can spend that money better than you. My 45 year old large son set up a Remote DJ hiring app and Hawaiian shirt company and he needs 50 million to turn it around.
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You’re either watching your tax dollars fund the scam or you’re a shareholder who is benefiting from the scam. Whichever number is greater is which side of the con you’re on, and for the foreseeable future that’s your only choice.
They’ve got the world’s greatest freeroll going, and the taxpayers are underwriting it. People have to bootstrap it, be responsible, have 6 months of expenses in an emergency fund… Big companies can freewheel it, gamble like drunken sailors, pump all their liquidity into dividends or stock buybacks, then come to us responsible people with their hands out when it goes wrong… and they almost always get it… which further incentivizes the behavior.
Even if your tax rate doesn’t go up, the value of those savings goes down each time we do this. It’s insanity.
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It’s not even a free market, that’s the hilarious part. It’s like a bizarro world form of regulation. It’s regulation in reverse. Don’t you dare be a responsible company that keeps liquidity and can handle a downturn, or you’ll 100% get your doors blown off by the freerollers taking all the chances and pushing every tiny edge, variance be damned, because they’re infinitely bankrolled by (all but) guaranteed bailouts.
They just reached a deal. Reading now.
The legislation, unprecedented in its size and scope, aims to flood the economy with capital by sending $1,200 checks to many Americans,
The bill is being rushed through Congress without public hearings or formal review, and it’s unclear how effective the measures would be in arresting the economy’s sudden fall.
https://www.washingtonpost.com/us-policy/2020/03/24/trump-coronavirus-congress-economic-stimulus/
If they didn’t act recklessly and enrich themselves they wouldn’t have been at total collapse in two weeks.
Hmmm, that doesnt break down terms at all Risky. Not finding anywhere else either.
The hill has a pretty good break down. 4 month boost to unemployment, no tax liability required for $1200 payout so poor people will get it now.
Lots of corporate welfare for airlines and cargo companies etc etc
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https://thehill.com/homenews/senate/489382-senate-white-house-reach-deal-on-massive-stimulus-package
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The legislation would also significantly boost unemployment insurance, expanding eligibility and offering workers an additional $600 a week for four months, on top of what state unemployment programs pay.
yeah its… better than the one a couple days ago, but still not great. Especially since it has no provisions for monthly payments if this stretches out longer than a few weeks (this will stretch out longer than a few weeks)
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