https://twitter.com/pbump/status/1240752395023417344
His followup is that it seems to be based on 2018 income, so anyone who just got laid off this year (~everyone), you’re on your own if your household was somewhat above median income. So, yeah, a completely unnecessary fuckup just to make sure Warren Buffett doesn’t get an extra $2k.
At some point, I’m going to stop being surprised by how absolutely moronic some people are.
I agree. Cutting out people who need it just to keep the money out of the hands of the rich is a horrible strategy.
Much more important that everyone who needs it gets it than we make sure a few percent of people don’t get it.
I was listening to a podcast that made an interesting and somewhat compelling case. They said it was fair to attach a bunch of conditions to corporate bailouts during the housing crisis because that crisis was a moral hazard. It was created by the people asking to get bailed out.
That’s not the case here so there is less of a case for imposing conditions.
I’m not sure I agree fully, as we know these types of things tend to favour the already rich and powerful but it’s an interesting idea I hadn’t thought of.
I have a real issue with stock buy backs. Companies do it because shareholders cry about companies having cash when they can boost the stock price. Not having that liquidity hurts them in situations like this.
I support Warren’s idea on anyone getting a bailout is forbidden from doing stock buy backs forever.
That’s how the '08-'09 auto bailout worked.
GOP excluding everyone over 99k (and phasing out at 75k) is political suicide. Suburban types are their bread and butter. It’s a product of getting away with it for so long they’ve forgotten what it’s like to care and facing a feckless joke of an opposition that doesn’t even offer an alternative.
Yeah this makes no sense coming from the GOP. If anything I expected them to try and fuck over people making under 75k. Isn’t the median income of a Trump supporter like 70k?
Kelly Loeffler (R-GA) also did all the insider trading
The person in Congress making the most sense on the stimulus is Katie Porter. #2 is…Mitt Romney.
Individual.
Honestly we should riot anyways. There won’t be a better chance to overthrow the existing structure than summer when this chills out a lil bit.
There’s a lot of truth that the Senate has been a graveyard, more truth to that than that the Rs are more progressive than the Ds. That said, we should take this victory (that the Rs are finally willing to inject direct stimulus, even if their motive is purely political) because its the right thing to do. If we do hit 20% unemployment shit will be very ugly for a long time and the poorest will take the worst hit on this. The best decision the Ds could make is to force a compromise that includes both the direct stimulus the Rs are looking for in trade for pushing forward some of the stale agenda of the Ds like green new deal or environmental stimulus of some sort.
Basically they should try to work together like a functioning government. Team D is not going to win in Nov anyway and probably will run the same bullshit all over again in 2024 so President Trump Jr. is looking more likely by the minute. Blocking stimulus is totally unlikely to help them and will only doom the DemE wing of the party faster.
When she resigns or loses in the primary GA will just elect someone even worse, WAAF
Anyone know if those on SSDI will get this stimulus check?
It is a good question. Haven’t seen anything one way or another yet. I want to say I think yes but that is some pretty serious speculation on my part.
Yea I think so too but thats just a guess as well.
So if I’m reading this correctly, the middle class gets a decent amount, the upper middle class in high cost of livings areas gets nada, and poor people get less help than the middle class?
We’re so fucked.
Wife: “if the government gives us $1000 we should just donate it, we don’t need it”
Me: “Are they also giving back the $xx,xxx we lost in our 401k in the past month?”
Her: “oh yeah that”
Also, if I’m reading this correctly, it’s a one-time payment of $1,200? Like, holy shit, that’s nothing.
They can’t be passing a new bill every few weeks and dicking around one step at a time. We’re on a wartime footing. You know what the economy needs? What the market needs? Most importantly what the people need?
To know where the fuck the money is going to come from to pay expenses for the next 2-18 months. To know whether mortgages are all going to go under, whether rent is all going to go unpaid, and whether we’re going to plunge into a great depression.
The only way to handle this is to freeze all loan payments and rent payments for the duration of the crisis and pay everyone X/mo, where X is ~ $1,000.
Pass that, and it’ll calm the markets, calm business owners, and essentially we just pause the economy and take a long rest while we wait for this to pass, then push play and resume. We also thus have the duration to figure out/bicker about the right way to pay for it, deficit reduction moving forward, etc.
On a personal note, thank goodness they used 2018. Although if this is a one time payment it won’t matter that much. Short-term I’m fine, long-term getting something to help me avoid going too far backwards will be critical to riding out what I expect to be a 2-3 year rough stretch for me businss-wise (poker), and that’s of course assuming we still have a country, economy, etc in a few months.