That Virus Stimulus Plan

There has been a lot of talk about the plan for cash payments to help in this time of need…..direct payments to the citizens…..we know one thing for sure if anybody will get bailed out of this crisis it will be corporations and billionaires……bug it sounds good to say that the people are their number one priority……sorry but I kinda doubt that……

With an election on the fast track……..and PRESTO…the plan has been announced!

Senate Majority Leader Mitch McConnell on Thursday presented the third part of the legislation intended to help the economy recover from the pandemic, built around payments of $1,200 to anyone with an income up to $75,000. The amount of the payment would decline as household income neared $99,000. There would be a $500 check for every child in the family, the Hill reports. The direct payments, backed early by Sen. Mitt Romney and Treasury Secretary Steven Mnuchin, are not universally popular among Senate Republicans. “Direct payments make sense when the economy is beginning to start,” Sen. Lindsey Graham said Thursday. “It makes no sense now, because it’s just money. What I want is income, not one check.” Lawmakers are still negotiating the details of the payments, though as of now, the poorest Americans would receive less, per the Washington Post, with a minimum check of $600.

Sen. Richard Shelby is among the Republicans who want to provide aid through unemployment insurance instead. “I personally think that if we are going to help people, we ought to direct the cash payments maybe as a supplement to unemployment,” he said, “not to the people that are still working every day.” President Trump has vacillated on the idea of payments to individuals, and supported a different approach Thursday on corporate bailouts. Asked about companies that have used their extra cash to buy back stock, Trump endorsed the government receiving a stake in the companies in exchange for aid. Comparing them with companies that invested the cash, Trump said, “Maybe I view that as a little bit differently than somebody that didn’t and somebody that built plants all over the United States.”

Will this abate all the panic?  I doubt it….it will however look great on a campaign ad.

Any thoughts on this?

I Read, I Write, You Know

“lego ergo scribo”

11 thoughts on “That Virus Stimulus Plan

  1. Seems rationale to bailout big corps is to keep them going so they don’t collapse and all their workers would no longer have a job. They should not be allowed to make stock buybacks but only to keep business afloat. Have not been able to find out if those on social security will get check. Silver is crashing in price so I am trying to buy a few hundred $ in bullion now and then. Silver rounds and silver bars are lowest but silver eagles at additional dollar or too are so beautiful. I like idea of government having a stake in company for $ aid but that seems a government foot in the door to nationalize industry, end capitalism and move to full socialist state with government owning or at least dictating to services and production.

    1. That is the blackmail that corporations use……they need to use their own cash and let the government work with the people. I think this country has more to worry about that some pipe dream of socialist in the shadows ….chuq

  2. Reblogged this on It Is What It Is and commented:
    You’d think this would be unbelievable, right? … ‘With an election on the fast track … and PRESTO … the plan has been announced!’
    Sure as heck there’s so much more to it! Would ‘the people’ fall for this ruse again?

  3. We seem to get a new ‘stimulus plan’ every day here. Now they are saying the government will pay a percentage of the wages for those who cannot go into work.
    Best wishes, Pete.

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