Posted on 07/26/2020 10:00:39 PM PDT by TBP
Congress is getting set to OK another trillion or three in spending sort of related to the pandemic, with not a lot more rhyme or reason than in prior rounds.
These are routinely called “stimulus” bills, even though much of the spending is more like “life support” for an economy dramatically slowed by lockdowns and deep uncertainty about even the near future. That includes cash for Americans thrown out of work — which is relief money. The Paycheck Protection Program, meanwhile, bribes businesses to keep on employees they’d otherwise lay off — in hopes those companies and workers will be able to move back to business as usual . . . soon?
In that light, it’s just as well that payroll tax cuts are off the table: People getting paychecks don’t need help and wouldn’t do anything entrepreneurial with any windfall.
(Excerpt) Read more at nypost.com ...
Republicans: Their only principle is to have no principles. Their only strategy is preemptive surrender. Their only plan for victory is to tick off their base as much as possible.
Kill this plan; let's aim for a growth-oriented strategy.
Sure, pander to the rich with a tax cut. That’ll get votes.
For 40 years now we have said TAX CUTS without adding the other half. CUT SPENDING.
It’s really beginning to get old.
Tax cuts and spending through the roof don’t go together.
Tax cuts AND slashing spending do.
It’s a naive fantasy land where economic growth could EVER offset the HUGE deficits we are running.
Tax cuts without drastic cuts are silly at this point. Unless you call leaving an even bigger debt for your kids and grandkids a good strategy
The economy was booming under Trump for a while.
So was the deficit.
I think you’ll agree with my post 3.
Or maybe not. :)
But I agree with your post
Thank you grandchildren and great grandchildren for all this money!
Worth repeating.
It’s a naive fantasy land where economic growth could EVER offset the HUGE deficits we are running.
Tax cuts help the lower and middle incomes. According to the IRS, since the 2017 tax cut, the upper brackets are paying a higher share of taxes than before.
A payroll tax cut, or suspension, could help stimulate the economy and help stimulate employment, help middle class people, and yes, get votes.
So of course Ditch won’t do it.
From what I understand the democrats have inserted every progressive anti American form of garbage into this bill that could ever be. Some of it involves the massive enabling of more vote fraud.
If Trump signs it with all of that in there then I will be very discouraged with him.
Now that the highest income voters are turning left, I would raise their taxes. They’ll have less to donate to ActBlue and BLM.
We need to take care of the people who vote our way.
Good grief. The taxes are cut enough. Cut departments that are no longer needed. Definitely give another check. That went to the economy which helped unemployment go down in May. Not rocket science.
Trump had better damn well NOT sign this! But he’s scared sh*tless of covid, so my guess is, no matter the amount, Trump will cave and sign it! Hell, Trump would probably sign on to a second complete shutdown of our economy.
Sorry, but this entire covid thing is Trump’s Achilles heel.
Tax cuts are great....provided you have a job. SMDH.
This money is also funding the rioters and looters
It’s an election year, the only rhyme or reason you need.
Opening up the country completely might help a bit.
The payroll tax cut won’t pass, and if people don’t get help in the meantime, the election could be lost.
Yep, plus there’s this little matter of an election in November.
PPP was never a sound program. All Americans who lost income or are without income due to the idiotic forced shutdown of the economy should have been provided relief, but paying government—or nongovernment—employees full and often exhorbitant wages through this was never justified. Meanwhile the admin and GOP obsess over whether a few minimum wage workers got too much. They should have apent maybe 20% of what they have, but let all out of work Americans sweat equally. Inatead they have massively subsidized the most comfortable and often very wealthy business owners at ridiculous levels.
So we should just throw money around because it’s an election year?
I agree with you about cutting out whole departments. I have nine or ten in mind.
But that will never pass either, and we don’t have money for another round of stimulus checks. But it’s an election year, so let’s just go further in debt.
As Strassel notes, Mnuchin is a problem. He seems to be working to make sure the Democrats get their priorities.
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