Cheesy FL-Vol
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Post by Cheesy FL-Vol on Apr 16, 2020 14:33:10 GMT -5
Corporations and ultra wealthy need to have their special tax breaks and loopholes eliminated as well.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 14:35:52 GMT -5
Semantics, they are part of the budget, and if we have to have painful discussions regarding the deficit, cuts to them need to be on the table. As ednkris said, anyone getting them is a taker, and should not be allowed to vote We won't see eye to eye on this. The reason these are part of the budget is because the government oversees the funds. I paid into SS and pay for my medicare monthly. Yes, it is a reduced cost than on the open market. I also have to pay outright for drug insurance and additional medical coverage. I could not live on the remainder of the SS income that I have. This is where retirement planning comes in. Conservatives will tell you you should have planned better. they are the ones who continue to want to cut taxes. They are the ones who ballooned the deficit under trump. If you have a problem with that, you should vote accordingly
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NastyWoman
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Post by NastyWoman on Apr 16, 2020 14:37:53 GMT -5
Semantics, they are part of the budget, and if we have to have painful discussions regarding the deficit, cuts to them need to be on the table. As ednkris said, anyone getting them is a taker, and should not be allowed to vote We won't see eye to eye on this. The reason these are part of the budget is because the government oversees the funds. I paid into SS and pay for my medicare monthly. Yes, it is a reduced cost than on the open market. I also have to pay outright for drug insurance and additional medical coverage. I could not live on the remainder of the SS income that I have. This is where retirement planning comes in. But that also assumes that companies pay at the very least living wages and we are nowhere near that requirement. Just because I have a very nice income, does not mean that everyone receives that. And before anyone starts in with the crap about some of the work being performed not being "worth" more than MW at most -> look around when you go out next time and see who is actually out their risking their health because they need the income and WE need the services they provide!
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souldoubt
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Post by souldoubt on Apr 16, 2020 14:42:07 GMT -5
We won't see eye to eye on this. The reason these are part of the budget is because the government oversees the funds. I paid into SS and pay for my medicare monthly. Yes, it is a reduced cost than on the open market. I also have to pay outright for drug insurance and additional medical coverage. I could not live on the remainder of the SS income that I have. This is where retirement planning comes in. Conservatives will tell you you should have planned better. they are the ones who continue to want to cut taxes. They are the ones who ballooned the deficit under trump. If you have a problem with that, you should vote accordingly Deficit spending has been a way of life for roughly 4 decades now. Both sides have had a hand in passing budgets that have contributed to the national debt and every budget has unnecessary things added to it to buy votes to get it passed. The reps are definitely not the small government fiscally conservative party they once claimed to be but let's not kid ourselves and act like the annual deficits or national debt have been something either side really cares about or wants to address. If either party at least claimed to be fiscally conservative and wanted to address the deficits and debt they'd have my vote but they can't even pretend to care. I give Clinton credit for trying to address it and putting the country on a better path but he left office almost 20 years ago and we've gone in the complete opposite direction since then.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 14:43:50 GMT -5
We won't see eye to eye on this. The reason these are part of the budget is because the government oversees the funds. I paid into SS and pay for my medicare monthly. Yes, it is a reduced cost than on the open market. I also have to pay outright for drug insurance and additional medical coverage. I could not live on the remainder of the SS income that I have. This is where retirement planning comes in. But that also assumes that companies pay at the very least living wages and we are nowhere near that requirement. Just because I have a very nice income, does not mean that everyone receives that. And before snyone starts in with the crap about some of the work being performed not being "worth" more than MW at most -> look around when you go out next time and see who is actually out their risking their health because they need the income and WE need the services they provide! Isn't it interesting what is considered essential and what we pay for it. Maybe we should pay based on what we actually need to live instead of paying based on our current values. But that would require paying some of what we consider the underclass much more. Imagine if no one picks our food this year.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 14:47:57 GMT -5
Conservatives will tell you you should have planned better. they are the ones who continue to want to cut taxes. They are the ones who ballooned the deficit under trump. If you have a problem with that, you should vote accordingly Deficit spending has been a way of life for roughly 4 decades now. Both sides have had a hand in passing budgets that have contributed to the national debt and every budget has unnecessary things added to it to buy votes to get it passed. The reps are definitely not the small government fiscally conservative party they once claimed to be but let's not kid ourselves and act like the annual deficits or national debt have been something either side really cares about or wants to address. If either party at least claimed to be fiscally conservative and wanted to address the deficits and debt they'd have my vote but they can't even pretend to care. We get the representation we deserve. If we want better representation, maybe we should pay attention, and maybe we should vote people out until we get what we say we want. But that requires thinking and not voting a straight party line. When trump came to power, the deficit was improving and the economy was growing. He and the republicans pushed through a stupid tax cut which ballooned the deficit. No matter what you believe, that is fact. We had a surplus at the beginning of GWB term. Again, a stupid tax cut led to deficits. See a pattern here.
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NastyWoman
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Post by NastyWoman on Apr 16, 2020 14:52:38 GMT -5
But that also assumes that companies pay at the very least living wages and we are nowhere near that requirement. Just because I have a very nice income, does not mean that everyone receives that. And before snyone starts in with the crap about some of the work being performed not being "worth" more than MW at most -> look around when you go out next time and see who is actually out their risking their health because they need the income and WE need the services they provide! Isn't it interesting what is considered essential and what we pay for it. Maybe we should pay based on what we actually need to live instead of paying based on our current values. But that would require paying some of what we consider the underclass much more. Imagine if no one picks our food this year. Commie . I can get away with this because I come from the Netherlands and we are weird in the eyes of the world anyway. What excuse (beside common sense and social awareness) do you have?
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souldoubt
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Post by souldoubt on Apr 16, 2020 15:00:23 GMT -5
Deficit spending has been a way of life for roughly 4 decades now. Both sides have had a hand in passing budgets that have contributed to the national debt and every budget has unnecessary things added to it to buy votes to get it passed. The reps are definitely not the small government fiscally conservative party they once claimed to be but let's not kid ourselves and act like the annual deficits or national debt have been something either side really cares about or wants to address. If either party at least claimed to be fiscally conservative and wanted to address the deficits and debt they'd have my vote but they can't even pretend to care. We get the representation we deserve. If we want better representation, maybe we should pay attention, and maybe we should vote people out until we get what we say we want. But that requires thinking and not voting a straight party line. When trump came to power, the deficit was improving and the economy was growing. He and the republicans pushed through a stupid tax cut which ballooned the deficit. No matter what you believe, that is fact. We had a surplus at the beginning of GWB term. Again, a stupid tax cut led to deficits. See a pattern here. The fact is right now neither side has made mention of addressing the debt or deficit. One of last two D candidates left standing wanted to pass programs that would have cost trillions of dollars with no legitimate mechanism to pay for them because taxing the rich wasn't going to cover it. I live in a state that's been controlled by one party for decades that has a rainy day fund that doesn't appear to be used when the need arises. They wanted to pass a permanent tax to pay for a one time fix for about 1.5% of the states population that didn't have water that was up to state standards. State pensions were about 30% underfunded before the market took a beating and the state ranks bottom 10 in the country as far as what each taxpayer would owe to meat the unfunded liabilities and bottom 10 in infrastructure. Looking at the list of unfunded liabilities most of the worst states are controlled by democrats. Do I think the reps would do any better - absolutely not but I don't believe the current democratic leaders want to address the debt or deficit.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 15:02:45 GMT -5
Isn't it interesting what is considered essential and what we pay for it. Maybe we should pay based on what we actually need to live instead of paying based on our current values. But that would require paying some of what we consider the underclass much more. Imagine if no one picks our food this year. Commie . I can get away with this because I come from the Netherlands and we are weird in the eyes of the world anyway. What excuse (beside common sense and social awareness) do you have? I am very fortunate. I have a job I like and i am well paid. No one before me was a physician, and I got help to get to where I am. I think we should be helping people to better themselves, society is better off if there are opportunities to do so. Too much of what is going on is "i got mine, screw you". In addition, despite claims to the contrary, I see people die from preventable disease. Many of these are the working poor. Used to be that someone who was not that smart could still make a good living. These people want to work, they just don't have the ability to do a job that pays well. Talent is not equally distributed. A rich country should help them. Now, I do not believe it should be endless and open ended help. Does that at least let me keep my cred as not a commie?
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NastyWoman
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Post by NastyWoman on Apr 16, 2020 15:05:02 GMT -5
Commie . I can get away with this because I come from the Netherlands and we are weird in the eyes of the world anyway. What excuse (beside common sense and social awareness) do you have? I am very fortunate. I have a job I like and i am well paid. No one before me was a physician, and I got help to get to where I am. I think we should be helping people to better themselves, society is better off if there are opportunities to do so. Too much of what is going on is "i got mine, screw you". In addition, despite claims to the contrary, I see people die from preventable disease. Many of these are the working poor. Used to be that someone who was not that smart could still make a good living. These people want to work, they just don't have the ability to do a job that pays well. Talent is not equally distributed. A rich country should help them. Now, I do not believe it should be endless and open ended help. Does that at least let me keep my cred as not a commie?No, but you may want to do some genealogical research as you may have some Dutch blood flowing through your veins
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 15:06:22 GMT -5
We get the representation we deserve. If we want better representation, maybe we should pay attention, and maybe we should vote people out until we get what we say we want. But that requires thinking and not voting a straight party line. When trump came to power, the deficit was improving and the economy was growing. He and the republicans pushed through a stupid tax cut which ballooned the deficit. No matter what you believe, that is fact. We had a surplus at the beginning of GWB term. Again, a stupid tax cut led to deficits. See a pattern here. The fact is right now neither side has made mention of addressing the debt or deficit. One of last two D candidates left standing wanted to pass programs that would have cost trillions of dollars with no legitimate mechanism to pay for them because taxing the rich wasn't going to cover it. I live in a state that's been controlled by one party for decades that has a rainy day fund that doesn't appear to be used when the need arises. They wanted to pass a permanent tax to pay for a one time fix for about 1.5% of the states population that didn't have water that was up to state standards. State pensions were about 30% underfunded before the market took a beating and the state ranks bottom 10 in the country as far as what each taxpayer would owe to meat the unfunded liabilities and bottom 10 in infrastructure. Looking at the list of unfunded liabilities most of the worst states are controlled by democrats. Do I think the reps would do any better - absolutely not but I don't believe the current democratic leaders want to address the debt or deficit. The states with the lowest life expectancy and the worst quality of life metrics are controlled by republicans. I live in one of the higher tax states, I think it is worthwhile as our life expectancy is 8 years greater than the worst state, but you can disagree. But if you vote for the same representatives, do not be surprised you get the same thing. If you think republicans care for anyone but the upper middle and upper class, you are delusional.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 15:06:53 GMT -5
I am very fortunate. I have a job I like and i am well paid. No one before me was a physician, and I got help to get to where I am. I think we should be helping people to better themselves, society is better off if there are opportunities to do so. Too much of what is going on is "i got mine, screw you". In addition, despite claims to the contrary, I see people die from preventable disease. Many of these are the working poor. Used to be that someone who was not that smart could still make a good living. These people want to work, they just don't have the ability to do a job that pays well. Talent is not equally distributed. A rich country should help them. Now, I do not believe it should be endless and open ended help. Does that at least let me keep my cred as not a commie?No, but you may want to do some genealogical research as you may have some Dutch blood flowing through your veins Belgian close enough?
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souldoubt
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Post by souldoubt on Apr 16, 2020 15:17:20 GMT -5
The fact is right now neither side has made mention of addressing the debt or deficit. One of last two D candidates left standing wanted to pass programs that would have cost trillions of dollars with no legitimate mechanism to pay for them because taxing the rich wasn't going to cover it. I live in a state that's been controlled by one party for decades that has a rainy day fund that doesn't appear to be used when the need arises. They wanted to pass a permanent tax to pay for a one time fix for about 1.5% of the states population that didn't have water that was up to state standards. State pensions were about 30% underfunded before the market took a beating and the state ranks bottom 10 in the country as far as what each taxpayer would owe to meat the unfunded liabilities and bottom 10 in infrastructure. Looking at the list of unfunded liabilities most of the worst states are controlled by democrats. Do I think the reps would do any better - absolutely not but I don't believe the current democratic leaders want to address the debt or deficit. The states with the lowest life expectancy and the worst quality of life metrics are controlled by republicans. I live in one of the higher tax states, I think it is worthwhile as our life expectancy is 8 years greater than the worst state, but you can disagree. But if you vote for the same representatives, do not be surprised you get the same thing. If you think republicans care for anyone but the upper middle and upper class, you are delusional. You're in the medical field - outside of genetics what would you say is the biggest contributing factor to someone's health? I'd say it's personal choices and those aren't something either party controls. Education and other factors play a part but at a point we're all adults and responsible for own choices. Never claimed the reps care for anyone but their own. The apparent difference between you and I is that I don't believe the dems do either. Both sides will talk a good game but they ultimately want power and control while both parties have plenty of wealthy donors who are fine with that.
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NastyWoman
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Post by NastyWoman on Apr 16, 2020 15:23:55 GMT -5
No, but you may want to do some genealogical research as you may have some Dutch blood flowing through your veins Belgian close enough? Sure for me it is. Belgium only separated from what is now the Netherlands in 1830 and people freely moved back and forth for decades the difference is only theoretical. They tend to be "somewhat" more conservative than the Dutch though.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 15:26:48 GMT -5
The states with the lowest life expectancy and the worst quality of life metrics are controlled by republicans. I live in one of the higher tax states, I think it is worthwhile as our life expectancy is 8 years greater than the worst state, but you can disagree. But if you vote for the same representatives, do not be surprised you get the same thing. If you think republicans care for anyone but the upper middle and upper class, you are delusional. You're in the medical field - outside of genetics what would you say is the biggest contributing factor to someone's health? I'd say it's personal choices and those aren't something either party controls. Education and other factors play a part but at a point we're all adults and responsible for own choices. Never claimed the reps care for anyone but their own. The apparent difference between you and I is that I don't believe the dems do either. Both sides will talk a good game but they ultimately want power and control while both parties have plenty of wealthy donors who are fine with that. There are very few perfect people, everyone does something wrong. The problem is the fallacy that you can control things. People develop asthma as a child because their parents smoke. What could they have done differently? We have no idea why a person gets lupus, so what do we do for them. You get a bad pneumonia and end up in ICU, should you go bankrupt because of that. I don't believe the democrats have a perfect answer, but if you look at cause and effect, every republican tax cut this century caused the deficit to skyrocket, why should we believe them when they claim to have an answer. If people think taxes should be cut, they should offer up cuts in a program that benefits them. It is easy to support cuts in something you do not benefit from. Democrats do it with defense cuts.
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thyme4change
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Post by thyme4change on Apr 16, 2020 15:45:48 GMT -5
Maybe we could save social security by opening the economy back up, only to people who promise to visit their Grandparents every day. With lots of hugs and wet, sloppy kisses.
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emma1420
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Post by emma1420 on Apr 16, 2020 15:46:58 GMT -5
The short answer is taxpayers notably those that haven't been born yet. I have zero faith that elected officials from either side are going to make the cuts that should be made to address the annual deficits let alone the ballooning national debt. They'll continue to kick the can down the road until we're at a point where that won't work and whoever is alive and in charge at that time will be left holding the bag and have to deal with it. There is not enough in the budget to close the deficit. Entitlements need to be cut if you want to even try. And that means SS/Medicare. Think anyone will accept that. Reversing the stupid trump tax cut would be a good start Reversing the Trump tax cuts, cutting military spending (which to be honest is just a socialism program to support the defense contracts), and then raising overall taxes on every, except for those people who make under about 30K, is going to be needed. We probably need to go back to the effective tax rates we had in the 60's and 70's. And to be honest, I'd be okay with that. I don't think that SS or Medicare can be touched. I mean the most I think they could do is perhaps raise the social security age up a year or two, but that will be it. No one has pensions anymore, and far too many people either don't have 401ks or haven't made enough money to contribute to one (or don't have access to one). Cutting SS would basically assign Gen X and Gen Y to poverty (because the boomers aren't going to feel those cuts as they are already collecting SS). Unfortunately, this particular situation is just going to make the divide between rich and poor even wider at least here in the US. And it's going to be even more challenging for someone to get out of poverty, and it's going to be more likely that someone who is in the middle class will fall into poverty.
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djAdvocate
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Post by djAdvocate on Apr 16, 2020 15:59:40 GMT -5
Not quoting anything or citing any articles, but now with Covid-19 and a bailout measured in Trillions, who will pay for it? Can we finally cut military spending? Will the tax cuts be reversed? Will people be asked to sacrifice? Or the more likely let’s just keep borrowing and the system collapses as it always does throughout history on a fiat currency. I’m not saying there shouldn’t be a bailout for Covid-19, but rather due to horrendous war spending and policy decisions before the virus we are in disastrous fiscal shape to fund it. this is precisely the problem with providential thinking. it means that when crises arise, you have no reserve for it.
the wrong time to give tax breaks is during times of economic growth. they produce nothing.
that is the time to pay down debt.
then, when you have a downturn, you can borrow it back.
what Trump (and Bush before him) did was to basically borrow on a line of credit during times of plenty. when 2008 and 2020 happened, there was no reserve to fund it.
so, we go deeper in debt.
were the US a business and not a government, the bank would have already called the loans.
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pulmonarymd
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Post by pulmonarymd on Apr 16, 2020 16:23:31 GMT -5
There is not enough in the budget to close the deficit. Entitlements need to be cut if you want to even try. And that means SS/Medicare. Think anyone will accept that. Reversing the stupid trump tax cut would be a good start Reversing the Trump tax cuts, cutting military spending (which to be honest is just a socialism program to support the defense contracts), and then raising overall taxes on every, except for those people who make under about 30K, is going to be needed. We probably need to go back to the effective tax rates we had in the 60's and 70's. And to be honest, I'd be okay with that. I don't think that SS or Medicare can be touched. I mean the most I think they could do is perhaps raise the social security age up a year or two, but that will be it. No one has pensions anymore, and far too many people either don't have 401ks or haven't made enough money to contribute to one (or don't have access to one). Cutting SS would basically assign Gen X and Gen Y to poverty (because the boomers aren't going to feel those cuts as they are already collecting SS). Unfortunately, this particular situation is just going to make the divide between rich and poor even wider at least here in the US. And it's going to be even more challenging for someone to get out of poverty, and it's going to be more likely that someone who is in the middle class will fall into poverty. I agree with you regarding SS/medicare, the reason to bring it up is to point out how much we have to cut to balance the budget if we don not raise taxes. Everyone has a favorite thing to cut, but it is never something that benefits them. When people are serious about solving a problem, they talk about things that will hurt them. Only way to get to compromise. If we want to solve this problem, we need to come together as a country and sacrifice. Those with more would have to give more. I am ok with that, it is fairer for me to pay more than it is for my kids. But those of us who have enough have become complacent and comfortable, and are unwilling to sacrifice for the public good. Look at the current crisis, we are in the first inning, and people are already complaining of the sacrifice the have to make. Not finishing the job of controlling the initial outbreak will lead to disaster later on, but too many peole refuse to listen.
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NastyWoman
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Post by NastyWoman on Apr 16, 2020 19:50:01 GMT -5
I just checked my bank account and for some strange reason I already receved my "bailout" money, though as expected at a lower amount. I thought this was to go to the lower income people first?
I did what I said I would and the money is gone again to someone who most certainly needs it, unlike me
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deminmaine
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Post by deminmaine on Apr 17, 2020 7:40:46 GMT -5
Not quoting anything or citing any articles, but now with Covid-19 and a bailout measured in Trillions, who will pay for it? Can we finally cut military spending? Will the tax cuts be reversed? Will people be asked to sacrifice? Or the more likely let’s just keep borrowing and the system collapses as it always does throughout history on a fiat currency. I’m not saying there shouldn’t be a bailout for Covid-19, but rather due to horrendous war spending and policy decisions before the virus we are in disastrous fiscal shape to fund it. this is precisely the problem with providential thinking. it means that when crises arise, you have no reserve for it.
the wrong time to give tax breaks is during times of economic growth. they produce nothing.
that is the time to pay down debt.
then, when you have a downturn, you can borrow it back.
what Trump (and Bush before him) did was to basically borrow on a line of credit during times of plenty. when 2008 and 2020 happened, there was no reserve to fund it.
so, we go deeper in debt.
were the US a business and not a government, the bank would have already called the loans.
What are you, a freaking Keynesian? Me too.
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deminmaine
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Post by deminmaine on Apr 17, 2020 7:46:13 GMT -5
The short answer is taxpayers notably those that haven't been born yet. I have zero faith that elected officials from either side are going to make the cuts that should be made to address the annual deficits let alone the ballooning national debt. They'll continue to kick the can down the road until we're at a point where that won't work and whoever is alive and in charge at that time will be left holding the bag and have to deal with it. There is not enough in the budget to close the deficit. Entitlements need to be cut if you want to even try. And that means SS/Medicare. Think anyone will accept that. Reversing the stupid trump tax cut would be a good start Cutting SSI and Medicare is not acceptable. Both need to be shored up, not cut. I agree with you regarding the 2017 tax cuts- nix them. Then we should be increasing the taxes of anyone making over (say) 100 K a year. Bigly. This is a war. Tax it like it is. Oh, and our soldiers come from hospitals, not the Pentagon, so cut military spending. One universal healthcare program, call it Medicare for all, or whatever, but consolidate it. And yes, the damn taxes will have to pay for it. We pay for our premiums now. We may - probably will - need some innovative revenue generators too. Maybe a national VAT, or a real tax/ fee on natural resource extraction. Boo - hoo, I don't get my raw materials for free either. We can do this, but it takes political guts and lack of lobbyists to do it.
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tbop77
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Post by tbop77 on Apr 18, 2020 10:50:04 GMT -5
Coronavirus recovery -- PPP lets small business suffer while big, profitable companies get mega bucks This isn't the way the business rescue plan was supposed to work. Millions of small businessmen and women can't get to the front of the queue for desperately needed loans, while many healthy larger businesses are feeding at the trough and laughing at taxpayers all the way from the bank.
. foxbusiness.com/small-business/coronavirus-ppp-small-business-bucks?fbclid=IwAR0sntu0E0fZBEcJ-AVwwIm_Rhmtk-KDL5Nxyg39Onbt3vf_o9d4LwHb6E0 Do you think these companies are carrying their coach bags and feasting on crab legs?
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Deleted
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Post by Deleted on Apr 19, 2020 11:13:15 GMT -5
Coronavirus recovery -- PPP lets small business suffer while big, profitable companies get mega bucks This isn't the way the business rescue plan was supposed to work. Millions of small businessmen and women can't get to the front of the queue for desperately needed loans, while many healthy larger businesses are feeding at the trough and laughing at taxpayers all the way from the bank.
. foxbusiness.com/small-business/coronavirus-ppp-small-business-bucks?fbclid=IwAR0sntu0E0fZBEcJ-AVwwIm_Rhmtk-KDL5Nxyg39Onbt3vf_o9d4LwHb6E0 Do you think these companies are carrying their coach bags and feasting on crab legs? Yep, while the rest of us who are SE/1099 get ignored by UI departments in every state and no money is flowing out to help true small businesses, the SE, the 1099 contractors, and gig workers. Great the "larger" small businesses sucked up all the cash and UI is overloaded. SE/1099 folks get screwed as usual.
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tbop77
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Post by tbop77 on Apr 21, 2020 9:20:41 GMT -5
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hurley1980
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Post by hurley1980 on Apr 21, 2020 11:56:34 GMT -5
I really think the government should have been more careful with who they sent stimulus checks to. I received the full check because my promotion didn't go into effect until the end of last year. I was expecting less. I am still fully employed, and have 6 months of salary in my savings account. I don't need this money, and I know a lot of other people that didn't need it either. I'm donating mine to various charities and food pantries, because otherwise, it would just sit in my bank account helping no one.
They really should have just gone to those who are unemployed or under employed during this time.
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teen persuasion
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Joined: Dec 20, 2010 21:58:49 GMT -5
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Post by teen persuasion on Apr 23, 2020 9:19:44 GMT -5
Interesting read that I saw on Bogleheads: Who pays for this?Makes the comparison to WWII war spending. Same level of questions on who/how it gets repaid (it doesn't - we grow out of it over time).
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Deleted
Joined: Apr 19, 2024 2:02:09 GMT -5
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Post by Deleted on Apr 23, 2020 9:46:39 GMT -5
Interesting read that I saw on Bogleheads: Who pays for this?Makes the comparison to WWII war spending. Same level of questions on who/how it gets repaid (it doesn't - we grow out of it over time). I’m glad the article finally touched on it at the end that we can’t automatically grow out of this like at the end of WW2. Europe and Asia manufacturing was a wasteland following WW2 while the US was left largely intact. That certainly isn’t the case following Covid.
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teen persuasion
Senior Member
Joined: Dec 20, 2010 21:58:49 GMT -5
Posts: 4,037
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Post by teen persuasion on Apr 23, 2020 9:56:14 GMT -5
Yeah, there was a hand waving hope that Covid-19 will spur some innovation that spurs GDP growth, something something. Also noticed how tax levels were permanently higher during/after WWII (until now!) as well as higher govt spending. If those parts of the analogy hold true, taxes must rise (as they should).
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souldoubt
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Joined: Jan 4, 2011 11:57:14 GMT -5
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Post by souldoubt on Apr 28, 2020 18:42:51 GMT -5
Saw this article and through of this thread: I also expect to see hikes at the state/local level to make up for the cost of "re-opening" the state and making up for the drop in tax revenues. I'll be curious to see how many cuts there are to spending.
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