Scotties Toy Box

March 27, 2020

I wish more people understood this

Filed under: Cartoons, Economics, Fascism, Greed, Health, Memes, News, Political, Questions, Reason — Scottie @ 08:03

Non Sequitur Comic Strip for March 27, 2020

So when the government gives a taxcut or taxpayer money to corporations  / wealthy people it is your money they are doing that with.  Rather than using your money to have things that help you, that you need, they are giving your money to those who already have more than they need.   It is basically socialism for the wealthy, but capitalism risks for everyone else.   

The government has clearly told everyone how much they value them.   Low income and workers that paid taxes get a one time payment.  Unemployment gets a four month boost which was fought by Republicans as being too generous for the workers.   Hospitals overwhelmed by sick and dying people get under 1.5 billion.  However large business get a 500 BILLION dollar slush fund leveraged 10 X over with very few limitations and requirement.   There is almost no protections under the rules for the workers of these companies.   The requirements that this not be used to make the do stock buybacks or go to CEO enrichment are short term and can be waived.  The layoff protection for workers, which is what this money is for, is only good for six months.   Notice that is one month less than the increased unemployment benefit.    The Secretary of the Treasury has the authority to approve which companies get the money and can waive all requirements on that company for getting the money.   This is a serious addition to the national debt which doesn’t help the workers, doesn’t help the people of the country, but greatly enriches companies and the wealthy with the money the workers / lower incomes have paid to the government.   It also doesn’t require the government get paid back at all.     But be assured that the Republicans will soon worry about the debt and demand a cut in the social safety programs used to help the poor and working poor.  Afterall the government can not waste money helping anyone but the already wealthy.   Hugs

12 Comments »

  1. Scottie, thanks for the post. As you know, I am concerned with the debt and have noted the hypocrisy of the Freedom Caucus for voting for a tax reduction mostly for the wealthy that will increase the debt by $1.5 trillion.

    On this week’s change, I agree that something needed to done for people and applaud Congress for acting to help. And, you are right on all counts – unemployment benefits are social insurance; paying money to people in need is socialism. These equations are lost on Republicans who just want to use the word as a weapon.

    But, getting back to the 2017 tax law change, it was poor stewardship and even malfeasance in my view. GOP donors told their boys and girls in Congress, you better pass this or we will take our money elsewhere. They enacted a change we did not need to give a huge tax break to the wealthy and corporations. We borrowed from our future to make a pretty good economy with a long tail, a little better for a little while

    They assumed companies would invest the tax break, but Treasury Sec. Mnuchin was surprised when so few hands went up in a room of CEOs to whether they would invest it. Companies gave a mere stipend to employees and bought back stock, a sign of weakness to make the denominator smaller on EPS calculations. Why? It made it easier for them to meet their bonus goals.

    My guess is there are several unneeded things in this $2.2 trillion bill to help corporations out. Some incentives are needed, but I am sure their is some unnecessary items. When these bills get passed, the kids in the candy store start pointing at the jars. I am glad the Dems increased the focus on health and people in need.

    What this virus has done is show who is fragile. Those in the gig economy and in retail get squeezed out in greater numbers, while others retain their jobs. Keith

    Liked by 2 people

    Comment by Keith — March 27, 2020 @ 08:31

    • Hello Keith. I am highly concerned by the lack of oversight and regulation of the slush fund the law establishes. However the stock market really loved it, which again makes me nervous. I did notice on the same week that 3.3 million people had filed for unemployment the stock market soared. What a disconnect. The Stock market doesn’t measure the economy instead it measures the feelings of the wealthy and big businesses.

      I wonder what effect the bill will have on the real economy, which is the workers and lower incomes being able to buying. Will this give enough to the lower incomes to just limp along or will another bill need to be past that also will give even more perks to big business? Will hospitals in blue states get their needs addressed or only those in red states as the president announced that states need to be nice to him if they expect anything? I have a lot of questions. Hugs

      Liked by 1 person

      Comment by Scottie — March 27, 2020 @ 11:15

      • Scottie, the stimulus will help, but fall well short of a panacea. People need to stop listening to the president. The health impact will have a longer tail than what the president hopes. Hope is not a strategy. The economy will have a long recovery as well. People have tightened their expenditures and the discretionary travel and entertainment dollars are not being spent at all.

        I just shared with another blogger, NPR and other news outlets are no longer covering the president’s press conferences wall to wall. Why? The misinformation coming from the president. That speaks volumes. Keith

        Liked by 1 person

        Comment by Keith — March 27, 2020 @ 12:45

        • People need to stop listening to the president. I could not agree more!!!

          Liked by 1 person

          Comment by Nan — March 27, 2020 @ 12:47

        • Hello Keith, yes I posted that my self. I do wonder even with people cutting back discretionary spending with this high an unemployment rate, with the high probability that those people won’t be hired back for a rather long time, I think the people will need another bailout. I think what the people will need is going to be much higher. Businesses without customers are not going to be profitable but big business has that 500 billion leveraged 10x with no time limit to keep them going for years on the taxpayers dime. But the worker who is out of work doesn’t have that and still has needs that need to be addressed. Hospital needs are far greater than the less than 1.5 billion included in the bill, so they will need another infusion. I think for everyone except big business this bailout is woefully inadequate. Hugs

          Like

          Comment by Scottie — March 27, 2020 @ 13:05

          • Recipients of the government’s “charitable” funds will have to report them in next year’s taxes, right? “The [government] giveth and the [government] taketh away.”

            Liked by 1 person

            Comment by Nan — March 27, 2020 @ 14:25

            • Hello Nan. The workers yes, the people yes. These corporations do not pay taxes now, and they won’t pay any more after these “no pay back loans”. It is simply a free cash give away by the same people who claim that paying off college debt is wrong, free higher education is wrong, free healthcare is wrong, mass transit is wrong … but taxpayer money for big business is freedom and glory, home of the brave, and capitalism is good ( even though that is not capitalism). These Republicans tell poor people to pull themselves up by their boot straps and to work harder to get ahead. These same Republicans tell needy families there is dignity in work. But they tell their wealthy donors to not worry of fear, free taxpayer money is always here. Hugs

              Like

              Comment by Scottie — March 27, 2020 @ 16:48

        • Hello Keith. You are from North Carolina correct? If so what do you think of this? Hugs

          https://www.charlotteobserver.com/opinion/editorials/article241497186.html

          Like

          Comment by Scottie — March 27, 2020 @ 13:22

          • Thanks for remembering. Check out my post from yesterday called “Poor (or not so poor) Richard’s Almanac.” I share my disappointment in the Senator’s actions. Keith

            Liked by 1 person

            Comment by Keith — March 27, 2020 @ 16:10

            • Hello Keith. Great post. I left a comment. Hugs

              Like

              Comment by Scottie — March 27, 2020 @ 17:32


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Blog at WordPress.com.

%d bloggers like this: