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Old 03-17-2020, 09:42 AM
Ravenman is online now
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Trump set to propose $850 billion CV response


https://www.google.com/amp/s/amp.cnn...ate/index.html

Between tax cuts, family leave, new spending, and probably other stuff, this would be the biggest stimulus bill since Obamaís 2009 stimulus and the Bush 2008 Troubled Assets Relief Program.

Details are still vague, but it looks like this is a ďdo something, do ANYTHING!Ē type of proposal for a White House that has had no plan for CV, and is totally on its heels.

But, thatís okay. We need big action yesterday.

Iíll be interested to see the rank and file Republican reaction to this. Nearly all Republicans votes against the stimulus bills because it (gasp!) spent money we didnít have. Will this be a repeat? We are very likely looking at the largest deficit in history ó we were already on track for $1 trillion in red ink and it could double, by my estimation, this year.

For Republicans who claim we are overreacting, they may be in a difficult spot: continue their spendthrift ways, or follow Trump? I can see big implications for the elections either way.
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Old 03-17-2020, 10:52 AM
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His stimulus plan, as I've understood it so far, is basically a payroll tax holiday, plus bailouts for travel and hospitality industries. I'm suspecting House Democrats may come up with a very different (and much better) way to spend $850 B.

Last edited by Do Not Taunt; 03-17-2020 at 10:53 AM.
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Old 03-17-2020, 10:52 AM
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Is there an election for Trump this year?
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Old 03-17-2020, 10:56 AM
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Nothing good will come from the White House. They'll want to cut payroll taxes- why? If you pay payroll taxes you're working so you don't need a tax cut. If you're not, the payroll tax cut does you no good. Moreover, it cripples the SS trust fund.

Tax cuts won't help. But that's the only tool they know how to use. When all you have is a hammer, everything looks like a nail.

Last edited by BobLibDem; 03-17-2020 at 10:57 AM.
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Old 03-17-2020, 11:13 AM
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Assuming that the main purpose is to boost Trump's reelection odds, it would only make sense if the payroll tax cuts kick in before November (in other words, we'll all get mailed some sort of tax refund for taxes we already paid, before November.) Is that how it works? Any tax cuts that don't set in until after November would be electorally useless.

And I have major doubts the Democratic House would pass it.
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Old 03-17-2020, 11:14 AM
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Originally Posted by BobLibDem View Post
If you pay payroll taxes you're working so you don't need a tax cut.
Plenty of people are working, yet still struggling to make ends meet. I'm not saying this tax cut is necessarily good policy, just pointing out that "working" doesn't necessarily mean "all good on the financial front."
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Old 03-17-2020, 11:42 AM
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Plenty of people are working, yet still struggling to make ends meet. I'm not saying this tax cut is necessarily good policy, just pointing out that "working" doesn't necessarily mean "all good on the financial front."
True enough, but if they're making that little money that pittance they'd get in a payroll holiday is minimal. The guys making $100,000 a year would get a much larger break and not need it. I'd rather do something that targets the little guy a lot more efficiently.
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Old 03-17-2020, 11:46 AM
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Originally Posted by Ravenman View Post
...Between tax cuts, family leave, new spending, and probably other stuff, this would be the biggest stimulus bill since Obama’s 2009 stimulus ...
No doubt, this will be emphasized more than anything else.

Quote:
I’ll be interested to see the rank and file Republican reaction to this. Nearly all Republicans votes against the stimulus bills because it (gasp!) spent money we didn’t have. Will this be a repeat? We are very likely looking at the largest deficit in history — we were already on track for $1 trillion in red ink and it could double, by my estimation, this year. ....
Something else for him to brag about, the BIGGEST in history!

Let's face it, spending money we don't have is now official Republican policy.

Last edited by ThelmaLou; 03-17-2020 at 11:47 AM.
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Old 03-17-2020, 11:54 AM
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Deficit spending has never really been a problem for them. They got rid of the sequester rules almost as soon as they got back into power. They're of course going to spend in the case where there is a serious reason for it.

And they need to either put a halt on rent/utility/mortgage payments or just see if it's possible to implement temporary UBI. There just isn't another option for people who get paid hourly if they can't work.

EDIT: Should clarify - meant to say put a halt on evictions/shutoffs due to lack of payment.

Last edited by str8cashhomie; 03-17-2020 at 11:56 AM.
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Old 03-17-2020, 01:13 PM
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Socialism! Socialism!

It's like Nixon imposing price controls. "Today I am a Keynesian."

Reality is relentless.
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Old 03-17-2020, 01:21 PM
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Depend upon it, sir, when a man knows he is to be voted out in November, it concentrates his mind wonderfully.

Everyone is a Keynesian in a foxhole.
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Old 03-17-2020, 01:22 PM
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But wait, there's more! Jared Kushner's brother Joshua is in the COVID test business. (cite) Of COURSE federal support for testing is of highest priority! Will other Tramp family businesses gain funding? Gee, I dunno...
  #13  
Old 03-17-2020, 03:41 PM
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Originally Posted by Do Not Taunt View Post
His stimulus plan, as I've understood it so far, is basically a payroll tax holiday, plus bailouts for travel and hospitality industries. I'm suspecting House Democrats may come up with a very different (and much better) way to spend $850 B.
A payroll tax holiday?? That doesn't make any sense at all!!

The people who need help are the people who aren't working, not the people who are. As The Man They Call Jayne would say, "7.65% of nothing is - let me do the math here - nothing into nothing, carry the nothing..."

Mitt's idea of a thousand bucks apiece for everyone wouldn't be focused on those not working, but at least it would help them too, as well as those who are working.
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Old 03-17-2020, 04:44 PM
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Agree. If this $1,000 a person thing happens, Iím giving my check to someone I know who is out of a job. Iím lucky enough that I donít need the money and I really shouldnít even qualify for it.
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Old 03-17-2020, 04:51 PM
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A payroll tax holiday?? That doesn't make any sense at all!!
It appears Trump has abandoned the payroll tax cut idea and is now just going to send checks to everyone. But.....I wonder how it would be done. Would be it by Social Security numbers, or would it be just by people merely existing (which could lead to scams and fake IDs?)
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Old 03-17-2020, 05:37 PM
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Didn't Dubya send out checks one time?
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Old 03-17-2020, 05:58 PM
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Didn't Dubya send out checks one time?
Yep, about $200, if I recall right. Can't remember if it was before or after 9/11.
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Old 03-17-2020, 06:08 PM
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Yep, about $200, if I recall right. Can't remember if it was before or after 9/11.
I seem to remember $300. Futurama even poked fun at it with the 300 big boys episode.
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Old 03-17-2020, 06:08 PM
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Agree. If this $1,000 a person thing happens, Iím giving my check to someone I know who is out of a job. Iím lucky enough that I donít need the money and I really shouldnít even qualify for it.
$1000 is actually more than I live off of a month in Social Security. And it could be more trouble than its worth if they don't exempt it from Medicaid and Food Stamp benefit requirements. (You have to make under a certain amount of income to qualify for both.)
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Old 03-17-2020, 06:09 PM
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I seem to remember $300. Futurama even poked fun at it with the 300 big boys episode.
You planning on buying 300 $1 coffees?
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Old 03-17-2020, 06:27 PM
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You planning on buying 300 $1 coffees?
1 $300 hookerbot, or 300 $1 hookerbots?

Most likely I'll move from my crack den into a crack mansion.
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Old 03-17-2020, 06:44 PM
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1 $300 hookerbot, or 300 $1 hookerbots?

Most likely I'll move from my crack den into a crack mansion.
I'd like one "Art" please.
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Old 03-17-2020, 10:10 PM
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Let's see, what would MrsRico and I do with our combined $2k? Pay off my new hearing aids, I guess. Huh? What?
  #24  
Old 03-18-2020, 01:08 AM
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Posted in wrong thread, sorry.

Last edited by Harrington; 03-18-2020 at 01:11 AM.
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