Wow:
Democrats are considering proposing a new round of direct cash payments to U.S. households and extending a similar benefit to the smallest businesses, as they struggle to get federal loans.
Wyden, the top Democrat on the Senate Finance Committee, wants to extend those cash payments to what he calls “the smallest of the small businesses.”
Wyden’s plan, and a similar proposal in the House, would give small businesses up to $75,000 as they struggle with closures and drop-offs in economic activity. Those payments would be limited to companies with $1 million or less in revenue and up to 50 employees. The payment would be capped at 30% of the business’s gross receipts.
Nice....moving away from policy of "loans!"... which is btw FAILING... Democrats shrewdly getting around the GOP small business right flank ... Trump better go for this one instead....
Democrats are considering proposing a new round of direct cash payments to U.S. households and extending a similar benefit to the smallest businesses https://t.co/1OlP8eOG4Q— Bloomberg Economics (@economics) April 25, 2020
Although incompetent government financial institutions can't even get direct transfers done in a timely manner; there is still most of existing fiscal support that has not been transferred:
Mail to the IRS is piling up in trailers because its buildings are shut and post offices lack space; taxpayers are still waiting for needed funds to arrive https://t.co/xfLmbCvIjK— Real Time Economics (@WSJecon) April 25, 2020
Real crisis as usual identifying the incompetence of the government institutions... making the case for more privatization...
12 comments:
"Trump better go for this one instead...."
OK, but was there any recommendation from the orange one himself as to which coronavirus potion is better -- Lysol or Clorox? I know that each company has issued stern public warning statements NOT to inject or ingest their poisonous products, but every MAGA guy/chick knows very well that those two companies are biased.
BTW, I was disappointed yesterday that the orange one cut the WH press/comedy briefing short and took no questions. But when I learned that states were receiving calls from their citizens on whether to inject or ingest disinfectants, I said to myself forget it -- the lives of people take precedence over my comedy preferences :)
Trump will do what is good for Trump. He always has. No surprise there. That's what narcissistic sociopaths do -- albeit with Trump, a profoundly stupid, ignorant, narcissistic sociopath.
Maryland Emergency Management Agency (MDMEMA)@MDMEMA 22h
ALERT: We have received several calls regarding questions about disinfectant use and #COVID19.
This is a reminder that under no circumstances should any disinfectant product be administered into the body through injection, ingestion or any other route.
"Trump will do what is good for Trump."
Well if he knows whats good for him he wont stake his presidency on the incompetent federal bureaucracy...
He needs to figure out the policy with fastest response.. even if it means bypassing the bureaucrats...
"Well if he knows whats good for him he wont stake his presidency on the incompetent federal bureaucracy... "
Matt, Trump is the epitome of incompetency:
Trump says he will block coronavirus aid for U.S. Postal Service if it doesn’t hike prices immediately
The president said the postal agency should quadruple its package delivery prices, otherwise he would block congressionally approved funding
https://www.washingtonpost.com/us-policy/2020/04/24/trump-postal-service-loan-treasury/
Although incompetent government financial institutions can't even get direct transfers done in a timely manner; there is still most of existing fiscal support that has not been transferred: Franko
Because US citizens may NOT use fiat in account form via debit accounts of their own at the Central Bank or Treasury where crediting those accounts would be a trivial matter.
Question? Why does the MMT School (and others) OPPOSE such accounts? Bank toadies much?
They are regulated fiscal agents of the government AA...
They get the $100Bs PPP munnie out in a day or two...
IRS $1200 check requests piling up in storage containers and delaying the transfers...
Banks/system can execute better than govt institutions...
"where crediting those accounts would be a trivial matter."
LOL! then why arent they doing it if it is a trivial matter?????
You have to have the information system infrastructure and competent personnel operating it to get the job done...
govt institutions falling on their face right now... where is the $1200 ??????
Where is the $600/week in unemployment transfers????
banks have theirs (PPP) done in like a day or two...
Checkmate...
So the might Federal Reserve couldn't operate a simple debit accounting service for all US citizens like it does for 7000 or so private depository institutions?
Actually central banks themselves have already floated the idea, as you well know, so there's more evidence that the idea is feasible.
Sure it would take time to set up but it is ABSURD that fiat cannot be distributed to citizens - all citizens, including the un-banked, instantly.
There are less than 5,000 banks and over 300 million people....
That's why Treasury outsources it to the FRS....
Your "fiscal agents", Franko, are, more accurately akin to government licensed privateers except they prey on their fellow citizens for the benefit of themselves and for the so-called "creditworthy", typically the richer at the expense of the poorer.
There are less than 5,000 banks and over 300 million people.... Franko
Seriously, Franko? The Federal Reserve or US Treasury can't build or purchase a system to handle 330 million simple debit accounts? Or can't afford to?
Well, run it through the IRS. They have a way to keep up with everyone’s tax receipts.
It’s funny that the govt has a very well oiled way to keep up with what we owe them but try to reverse it and suddenly it’s a problem that can’t be overcome very easily hmmmmmmmmmm
... but try to reverse it and suddenly it’s a problem that can’t be overcome very easily hmmmmmmmmmm Greg
Because once citizens may use fiat in inherently risk-free account form like the banks do, then it's a slippery slope to ending all their other privileges too.
That's why you'll see such stubborn opposition to what is obviously an inherent right of citizens: to use their Nation's fiat in all its forms.
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