patrick.net

WookieMan says

Employed people and government workers shouldn't be getting a dime of the first round or any of the 2nd round. If you're on Section 8 and working you get nothing. Social security recipients should get nothing. ANY D or R that supports any $$$ for a 2nd round should be removed from office and lynched. The solution is people working, not this bull shit.

I agree. They should have just gave the money to the unemployed and non retired. They could have issued it through the unemployment system. Why give it to a retiree who makes $35,000 a year and already has their mortgage paid off ?

ad says

I agree. They should have just gave the money to the unemployed and non retired. They could have issued it through the unemployment system. Why give it to a retiree who makes $35,000 a year and already has their mortgage paid off ?

The other issue is for the younger crowd. They're going to realize how wasteful they were on what they were doing and purchasing. What's usually maybe $500 in the checking account for a 24 year old, they've got $2-3k all a sudden. It doesn't bode well for reopening the economy. Not only will there be an incentive not to work, we've shown people what it's like to have some money in their damn checking accounts.

Most will burn through it either way. But if 5-10% of people wake up to their waste in their own spending, that could have big ramifications on GDP. We don't pinch pennies in my household, but even a responsible family like mine is like, fuck, we spend a lot of money on stupid shit. We may cut back moving forward on a long term basis. Non mortgage expenses for my family easily hits the median single persons income. We cut that 10-20% that's a big deal and if other people do the same.

APOCALYPSEFUCKisShostakovitch says

What did I do wrong?

You occasionally make a lot of sense, esp when talking about banking...this HAS to change

ignoreme says

Genius thought. Maybe the elites are trying to destroy capitalism because slavery has become easier these days.

That may be it.

Once someone is dependent on your handouts, then you have power over that person, by withholding the handouts.

Learned this from the book "What makes Sammie run?"

Two words for the proposal: Fuck No.

Like the middle east wars, this is a gigantic wealth transfer engine.

FuckTheMainstreamMedia says

the homeless would have anywhere to go and would either get their crap together or overdose and die.

There's always slab city. Go the fuck there: https://en.wikipedia.org/wiki/Slab_City,_California

APOCALYPSEFUCKisShostakovitch says

What did I do wrong?

I don't know about others but I see 51 and feel like I should genuflect or something.

Darwin? What is this place that you speak of? I shall have to investigate!

OccasionalCortex says

just_dregalicious says

There's always slab city. Go the fuck there: https://en.wikipedia.org/wiki/Slab_City,_California

Hah! Slab City doesn't hold a candle to Darwin, California.

www.youtube.com/embed/4PFIXhTrO0s

In the land of elderly, obese denture wearers, the fat lesbian is queen.

OccasionalCortex says

NDrLoR says

Proposal to give $2,000 per month to Americans landlords/credit card companies/mortgage industry gains traction in Senate

There, fixed it for ya!

Proposal to give $2,000 per month to Americans sellers of rims, drugs, liquor, hair/nails, tats, and iPhones gains traction in Senate

willywonka says

Darwin

What an appropriate name for this s*ithole!

A reasonable solution would be for the federal government to pay, either in lump sum or in monthly installments or quarterly, however the business owner wants it, their gross income based upon their 2019 tax return if the government determines they are not an essential business. And this would be in perpetuity as long as they are shut down, let the government pick up their tab.

Shaman says

They’re missing the entire point of a capitalist economy. You have to incentivize people to work or they won’t. That’s the entire point of money. It enables people to compel other people to provide them goods and services without having to enslave them first.

I assume you're against the Fed bailout of the "free market economy"? If not you're a little inconsistent. So it's capitalism all the way while the DOW is touching 30,000 but when a world event takes place, the Fed steps in, IN DAYS and tells the market "We will buy it all", "junk bonds, corporate debt", "the lot". That doesn't sound like any capitalist society I know of. Sounds a lot like socialism.

But wait there's more. What YOU want is socialism for big business and corporations and you offer capitalism (or the apparition thereof) to lower and middle class. How do I know this? Because I'm sure you've never complained on this forum that a US salary worker's average effective tax rate is 27%, yet the average corporation tax is just 12%? (If they pay any at all). Capitalism?

The reason this $2K is important is because it's the best chance to ACTUALLY get the money into the economy. If the average worker feels flush, he may buy a TV, air conditioner, cooler or even get the fridge serviced. Those who have the REAL money aren't shopping. What do you think Warren Buffet did with his earnings from the airline stock he just sold? Short-term Treasury Bills. His total now is $137.2 billion. That equates to him parking that money. He's not putting it back into the economy.

So far the Fed has spent 6.5T on the stimulus. Some good macro economists expect the total bill to got to a little over 13T. This currency magic trick is going to debase the U.S. dollar and reduce it’s purchasing power. Take a wild guess to what that will do to your dollar?

Here's something fun to do. Google the percentage of tax Carnival Cruise Line pays the US Treasury. Knowing that hedge funds will make the company good using Fed money. YOUR WEALTH.

I think you need to look at the big picture and see who is receiving the REAL money. The $2K per month is NOTHING compared to what the Fed is doing in the market RIGHT NOW. If anything that $2K represents the loss of wealth your $$ is experiencing per month.

Here comes that thing they were talking about few years ago, guaranteed minimum income.

junkmail says

Because I'm sure you've never complained on this forum that a US salary worker's average effective tax rate is 27%

Where did you come up with this number??? Are you talking state income, fed income, property, sales, etc. taxes combined? If you're talking Federal taxes alone, effective tax rate for the average salaried worker is substantially lower than 27%. Like way lower. An effective tax rate of 27% federally, probably puts you in the $400k plus range income wise. Probably much higher actually.

Even if talking marginal tax rates, not a lot of people get up to 27%, because that bracket doesn't exist. Correct me if you want, but I'm thoroughly confused with this quoted line.

OccasionalCortex says

KNOW everyone has $2k extra income per month and raise rents/prices accordingly.

I don’t think it’s that. Rents are under contract. Car dealers still have to compete with others.

I think it’s more like if joe blow and his wife can sit at home and make 48K a year, plus do a little side hustle to make a little cash under the table, then why would they work and pay taxes? If nobody works and nobody pays taxes, what happens to a fiat currency?

I seriously feel like a moron at this point. I make way too much money to qualify for any of this shit. Why am I working 80 hour weeks when I could work 40 hours managing a McDonald’s and pick up an easy 60k tax free benefit between the wife and kids? Seems like a way better lifestyle to me.

just_dregalicious says

There's always slab city. Go the fuck there: https://en.wikipedia.org/wiki/Slab_City,_California

I checked it out last yr, was pretty cool to see. I just drove through though, I didn't go into their library / bar / hostel etc...

Hircus says

just_dregalicious says

There's always slab city. Go the fuck there: https://en.wikipedia.org/wiki/Slab_City,_California

I checked it out last yr, was pretty cool to see. I just drove through though, I didn't go into their library / bar / hostel etc...

Slab City is CA future.

OccasionalCortex says

ignoreme says

I don’t think it’s that. Rents are under contract. Car dealers still have to compete with others.

REALLY? What happened to home prices & rent in Silicon Valley when all those good jobs came in?

Same thing will happen when ppl start getting $2k checks per month.

Another example is military bases near small localities. As soon as the military housing allowance is increased, rents and house prices follow suit. That hurts the locals who now have to compete for housing with the extra military money.

HeadSet says

Another example is military bases near small localities. As soon as the military housing allowance is increased, rents and house prices follow suit. That hurts the locals who now have to compete for housing with the extra military money.

Might turn into a good thing: since illegals won't be getting $2K, the instant rent increase across the board might persuade them to GTFO and go the fuck home.

junkmail says

I assume you're against the Fed bailout of the "free market economy"? If not you're a little inconsistent. So it's capitalism all the way while the DOW is touching 30,000 but when a world event takes place, the Fed steps in, IN DAYS and tells the market "We will buy it all", "junk bonds, corporate debt", "the lot". That doesn't sound like any capitalist society I know of. Sounds a lot like socialism.

You assume a lot.
1)The government demanded that businesses shut down and put people out of work. Now they have to be supported by the government or it’s an unworkable order. I think the government didn’t do enough to pay people and too much too pay corporations.
2)I’m not against the temporary stimulus. That is appropriate. What is not appropriate is making it long term. That incentivizes people to be non productive.
3)Shutting down was a mistake. We need to reopen immediately. Fuck the models! They are all bullshit.

WookieMan says

Where did you come up with this number???

Our average effective tax rate is 27.1% compared with 27.7% for the other 30 OECD countries, according to CRS.

https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-corporate-tax-rates/

personal

junkmail says

I assumed you were smart. My biggest mistake.

I never assumed that about you. Flawless!

https://reason.com/video/were-the-covid-19-lockdowns-a-mistake/