The US Aid Package

Looks like it passed both the House and Senate and will be signed by the President today. It is loaded up with pork and gives most Americans about $1200. I think I prefer the British one. It would have the companies give their laid off employees 80% of wages, funded by the British government until the crisis is over. And the self employed would get the same deal. Sounds much better than the plan that was passed by our politicians.

WHAT A SURPRISE......guess who gets the biggest payout? What does that tell U about what needs to be realigned, GREED AND GRAFT.....the fourth turning WILL accomplish that.

FredHayek wrote: Looks like it passed both the House and Senate and will be signed by the President today. It is loaded up with pork and gives most Americans about $1200. I think I prefer the British one. It would have the companies give their laid off employees 80% of wages, funded by the British government until the crisis is over. And the self employed would get the same deal. Sounds much better than the plan that was passed by our politicians.

I agree, Fred. This is not aimed at the working class, it's aimed at businesses.

People will need jobs at the end of this. Letting business fail is much worse IMO.

Pony Soldier wrote: People will need jobs at the end of this. Letting business fail is much worse IMO.

Yes, because we all know that businesses care more about their employees than their bottom line. Beside, the money will trickle down.

No business = No employment

People with no money = no economy because they have nothing to spend.

Will Rogers in November of 1932:

This election was lost four and six years ago, not this year. They [Republicans] didn’t start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellows hands. They saved the big banks, but the little ones went up the flue.

There will always be businesses. They will be started by people that see opportunity and want to take advantage. Giving money to existing businesses will keep them afloat, yes, but as we've sen in the past, like 2009 stimulus package and the recent tax cut, those businesses just buy back their stock or give it away as bonuses to executives.

Oh, and there is this little gem that Trump did last night: (from Heather Cox Richardson)

When Trump signed it, he included a “signing statement.” These used to be quite innocuous statements in which a president would thank the people involved in writing the bill, or talk about how important a bill was. President George W. Bush began to use these statements to challenge the content of a bill without being forced to veto the entire thing, saying, for example, that he would not honor certain portions of it. And that’s what happened tonight. Trump issued a signing statement saying he would ignore the law’s provisions for an independent inspector general overseeing the disbursal of funds for corporate bailouts. His argument is that such a provision intrudes on the rights of the executive to block information from Congress. If this holds, it would erase the Democrats’ key victory in the negotiations over the bill.

You remember that the original bill written by the Senate, without any Democratic input, called for $500 billion slush fund to be issued without any oversight, and those receiving funds would be kept secret for at least six months? The Democrats did not like that, so they stalled the bill, but it looks like Trump got his way through the signing statement. How do you like that? His business buddies, and perhaps his chldrens businesses, can and probably will receive slush fund money. Gosh, nothing can go wrong with that, right? Oh, and his campaign contributors will get taxpayer money. That's your money.

They have no money because they have no job.

For example, the employees of the Crossroads Inn each get a check (pick an amount, let us say $1200, okay?) The business gets no money and has to close. The now ex-employees spend their money, however they like. Result they have no money and no job.

An oversimplification, yes. for a more detailed analysis start with The Wealth of Nations, Adam Smith., then move onto Human Action, Ludvig von Mises.

koobookie wrote: You remember that the original bill written by the Senate, without any Democratic input, called for $500 billion slush fund to be issued without any oversight, and those receiving funds would be kept secret for at least six months? The Democrats did not like that, so they stalled the bill, but it looks like Trump got his way through the signing statement. How do you like that? His business buddies, and perhaps his chldrens businesses, can and probably will receive slush fund money. Gosh, nothing can go wrong with that, right? Oh, and his campaign contributors will get taxpayer money. That's your money.

The original bill was NOT written without any democrat input. It was negotiated for a week and as soon as Pelosi figured out that there were enough Republicans self quarantining that she could play games, she scuttled it and demanded a slew of pork. It is sickening that anyone supports this. Not surprising, but sickening.

ramage wrote: They have no money because they have no job.

For example, the employees of the Crossroads Inn each get a check (pick an amount, let us say $1200, okay?) The business gets no money and has to close. The now ex-employees spend their money, however they like. Result they have no money and no job.

An oversimplification, yes. for a more detailed analysis start with The Wealth of Nations, Adam Smith., then move onto Human Action, Ludvig von Mises.

After the crisis, another restaurateur comes along, sees that Crossroads is a prime location, has all the equipment, tables, etc. and opens up a new restaurant, as they see a need in the community. Hires people to work. People matter, not businesses.

Are you aware of what other first world countries are doing to help the economic crisis? Canada is giving $2,000 per month to each person for four months to help them survive. USA is giving each person a one time check for $1,200. If people have money, they will spend it. If businesses have money, they buy back stock and give raises to the executives. There is a track record for this, you know.