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Author Topic: Senate and WH Agree on Terms of Stimulus Package  (Read 58648 times)


Uncle Rico

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“This is bar none atrocious.  Mitchell cannot shoot either.  What a pile of dung”

tower912

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #302 on: May 12, 2020, 04:53:03 PM »
The millionaires have all gotten paid.  This round might actually pay those suddenly deemed 'essential.'
Luke 6:45   ...A good man produces goodness from the good in his heart; an evil man produces evil out of his store of evil.   Each man speaks from his heart's abundance...

It is better to be fearless and cheerful than cheerless and fearful.

shoothoops

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #303 on: May 15, 2020, 06:35:22 PM »
Some people in need can't even get their $1200 but example after example of wealthy corporate payouts.

$27 million for a private jet company:

https://www.cnbc.com/amp/2020/05/14/private-jet-company-owned-by-trump-donor-gets-27-million-bailout.html?__twitter_impression=true

jesmu84

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Jockey

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #305 on: May 17, 2020, 10:42:04 PM »
Some people in need can't even get their $1200 but example after example of wealthy corporate payouts.

$27 million for a private jet company:

https://www.cnbc.com/amp/2020/05/14/private-jet-company-owned-by-trump-donor-gets-27-million-bailout.html?__twitter_impression=true


There is no surprise here. The rich and powerful ALWAYS get theirs.

And if you are on Team Trump, you get it first.

JWags85

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #306 on: May 17, 2020, 11:08:20 PM »
https://twitter.com/mcuban/status/1262084931779518465?s=19

He’s not wrong. It’s just a bandaid to keep your staff employed/the lights on. It does nothing for business health. It was great to allow us some business continuity but unless it’s funded to ride out months of continued lockdown/staged reopen, plus time to allow consumer demand to return/stoked fear to subside, it’s just prolonging eventual bankruptcy.

Hards Alumni

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #307 on: May 17, 2020, 11:58:36 PM »
He’s not wrong. It’s just a bandaid to keep your staff employed/the lights on. It does nothing for business health. It was great to allow us some business continuity but unless it’s funded to ride out months of continued lockdown/staged reopen, plus time to allow consumer demand to return/stoked fear to subside, it’s just prolonging eventual bankruptcy.

It was intended as a pause on business.  But that isn't realistic.

Cuban sounds down right Presidential... hmmm some coincidence.

MU82

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #308 on: May 20, 2020, 06:21:29 AM »
From the NYT:

There have clearly been problems with the business loan programs in the federal government’s coronavirus stimulus.

Many companies, especially small businesses, have struggled to get loans. And in a high-profile hearing yesterday, several senators criticized Jerome Powell, the Federal Reserve chair, and Steven Mnuchin, the Treasury secretary, for those problems.

More quietly, though, there also seems to be a growing recognition in Congress — among members of both parties — that the execution of the stimulus program hasn’t been the main problem. The design of the program has been.

Much of the rest of the world — including Australia, Britain, Canada, France, Germany and South Korea — has followed one strategy on coronavirus stimulus. Governments have temporarily paid the salaries of workers in order to prevent millions of layoffs.

The United States has taken a different path. It created a complicated mix of different stimulus policies, including loans to businesses and checks for families. This approach doesn’t appear to be working: The U.S. has had a sharper rise in unemployment than other countries. Many jobless Americans have also lost their health insurance — in the midst of a pandemic.

Now Congress may be on the verge of changing its approach.

The stimulus bill that House Democrats passed last week includes a new paycheck subsidy program, similar to those in other countries. For businesses that have lost substantial revenue, it would cover — as grants, not loans — as much as 80 percent of payroll costs, up to $60,000 per worker in annual salary. The policy would be expensive, yet still cheaper than the previous stimulus plans.

The bill is only one sign of the idea’s growing popularity. Yesterday, almost 100 House Democrats introduced a more ambitious version of the program. And senators across the ideological spectrum — from Josh Hawley (a Missouri Republican) on the right to Doug Jones (an Alabama Democrat) in the center to Bernie Sanders (you know who he is) on the left — are pushing their own versions of the plans.

Janet Yellen, the former Fed chair, has praised the idea as a “smart, quick and effective way to channel aid to workers through their firms.”

It’s still not clear what will happen. Mitch McConnell, the Senate Republican leader, continues to speak skeptically about the need for any further stimulus. Regardless, any bill is likely to be more diffuse and complex than the approach of other countries, and any paycheck subsidy is likely to be less ambitious.

But the U.S. may soon be moving in the direction of those other countries.
“It’s not how white men fight.” - Tucker Carlson

jfmu

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #309 on: May 20, 2020, 06:46:44 AM »
I’m having a hard time with all of the reports of businesses not obtaining their PPP loans. I know multiple people who recently applied via PayPals portal and went through the process and received their money in less than a week. And this is all is the past 2 weeks.


pacearrow02

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #310 on: May 20, 2020, 07:31:12 AM »
It was intended as a pause on business.  But that isn't realistic.

Cuban sounds down right Presidential... hmmm some coincidence.

I’d be very interested in what a Cuban Campaign would look like.  Bring on a VP with good global foreign policy chops and that would be a very intriguing duo.

WarriorDad

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #311 on: May 20, 2020, 01:44:58 PM »
I’d be very interested in what a Cuban Campaign would look like.  Bring on a VP with good global foreign policy chops and that would be a very intriguing duo.

His past would not be a good thing he wants to come to the forefront.
“No one is more hated than he who speaks the truth.”
— Plato

Hards Alumni

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #312 on: May 20, 2020, 02:31:18 PM »
His past would not be a good thing he wants to come to the forefront.

That is a lot of people.  And since we don't care about a little kitten grabbing anymore, why should anyone fear their past?

cheebs09

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #313 on: May 20, 2020, 02:43:34 PM »
His past would not be a good thing he wants to come to the forefront.

Did you guys overlap at IU at all?

WarriorDad

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #314 on: May 21, 2020, 10:18:59 AM »
Did you guys overlap at IU at all?

Was he at the two games I attended in my life at IU?  If so, then we may have overlapped for a few hours. 

https://www.muscoop.com/index.php?topic=56316.msg1023881#msg1023881

Why would you want another celebrity president after the current idiot? 
“No one is more hated than he who speaks the truth.”
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shoothoops

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #316 on: June 11, 2020, 10:49:07 AM »
Which businesses are receiving bailout money?


https://twitter.com/Public_Citizen/status/1271099152706011137?s=19

Jockey

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #317 on: June 11, 2020, 11:26:49 AM »
Which businesses are receiving bailout money?


https://twitter.com/Public_Citizen/status/1271099152706011137?s=19

As was fully expected. Laws do not matter to this group.

JWags85

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #318 on: June 11, 2020, 12:04:44 PM »
Or maybe, just maybe, you can look past your automatic lens of corruption to realize that many companies don’t want everyone to know they accepted PPP funds. Public corporations will have it clearly stated in their financial reporting. But disclosing millions of private companies? I don’t know your respective business backgrounds but any whiff of financial distress is blood in the water for competitors to blast to anyone they are trying to take business from. Or for a company to turn down bids from. It doesn’t matter that there was a global pandemic, that is easily viewed as weakness, lack of financial preparation, etc...

This isn’t the slush fund, it’s just not broadcasting readily and easily who received funds. And of course it’s quick to be labeled “bailout” as if every company receiving these funds are 2008 AIG. It’s was business stimulus until the narrative needed to be changed to grind this axe

The Sultan of Semantics

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #319 on: June 11, 2020, 12:35:58 PM »
Or maybe, just maybe, you can look past your automatic lens of corruption to realize that many companies don’t want everyone to know they accepted PPP funds.


Yes, God forbid the public knows where its money is going.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

Frenns Liquor Depot

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #320 on: June 11, 2020, 12:42:36 PM »
Or maybe, just maybe, you can look past your automatic lens of corruption to realize that many companies don’t want everyone to know they accepted PPP funds. Public corporations will have it clearly stated in their financial reporting. But disclosing millions of private companies? I don’t know your respective business backgrounds but any whiff of financial distress is blood in the water for competitors to blast to anyone they are trying to take business from. Or for a company to turn down bids from. It doesn’t matter that there was a global pandemic, that is easily viewed as weakness, lack of financial preparation, etc...

This isn’t the slush fund, it’s just not broadcasting readily and easily who received funds. And of course it’s quick to be labeled “bailout” as if every company receiving these funds are 2008 AIG. It’s was business stimulus until the narrative needed to be changed to grind this axe

Wags they should be disclosing this...it’s an investor and an over site issue on where the money is being deployed. 

Remember the financial bailout this was so sensitive that they forced all banks to take money as to not create the perception that some needed and some not.  Ford carried a badge of honor as being the one auto that made it through without needing money....

Pakuni

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #321 on: June 11, 2020, 12:45:58 PM »
Or maybe, just maybe, you can look past your automatic lens of corruption to realize that many companies don’t want everyone to know they accepted PPP funds. Public corporations will have it clearly stated in their financial reporting. But disclosing millions of private companies? I don’t know your respective business backgrounds but any whiff of financial distress is blood in the water for competitors to blast to anyone they are trying to take business from

It's public money. The public has the right to know how its tax dollars are being spent.
If a private company doesn't want it to be known that they're accepting public money, they can choose not to accept public money.

jesmu84

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #322 on: June 11, 2020, 12:56:57 PM »
It's public money. The public has the right to know how its tax dollars are being spent.
If a private company doesn't want it to be known that they're accepting public money, they can choose not to accept public money.

Bingo

JWags85

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #323 on: June 11, 2020, 01:16:35 PM »
Wags they should be disclosing this...it’s an investor and an over site issue on where the money is being deployed. 

Remember the financial bailout this was so sensitive that they forced all banks to take money as to not create the perception that some needed and some not.  Ford carried a badge of honor as being the one auto that made it through without needing money....

Any investor knows whether or not a company they are involved with took money, public or private. This is not about that.

I think these are extraordinary circumstances. Private companies forced to take public funds because of overarching government action to “protect” the public.

And for the “public needs to know where it’s money is going” then maybe they should just bury the names of the companies in a 550 page piece of legislation that nobody has the ability to read or understand like every bit of pork barrel out there that is far more egregious than this.

Everyone is salivating for a reason to nail Trump and Mnuchin throwing a couple billion at companies they are affiliated with and not giving a crap about negative implications on most companies did nothing wrong and took the money out of survival necessity. We’ve already had adverse financial action taken on us as a result by both our bank we got the PPP from as well as another we were looking to finance a new venture with. I can only imagine the similar effects if there was a nice cleanly searchable database of PPP funds distributed.

I’m not saying that Trump and company haven’t earned this level of suspicion and mistrust, but this feels like a financial witch hunt more than a general oversight concern

Pakuni

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Re: Senate and WH Agree on Terms of Stimulus Package
« Reply #324 on: June 11, 2020, 01:42:10 PM »
I’m not saying that Trump and company haven’t earned this level of suspicion and mistrust, but this feels like a financial witch hunt more than a general oversight concern

Wags ... this has nothing to do with Trump. It's Civics 101. It's no different than your local school board needing to disclose teacher salaries or the county government disclosing where it's buying road salt. It's a fundamental principle of open government.

It's really shocking that anyone is arguing that the business interests of a private company arer more important than the public's long-established right to know how its money is being used.
Again, nobody is requiring these companies to take our money. But if they want it, we get to know they're getting it.