America’s biggest companies are
flourishing during the pandemic and
putting thousands of people out of work
45 of the 50 biggest U.S. companies turned a profit since
March.
The majority of firms cut staff and gave the bulk of profits to shareholders.
https://www.washingtonpost.com/graphics/2020/business/50-biggest-companies-coronavirus-layoffs
Capitalists before Labor, always.
Rick Scott also ran a criminal enterprise and walked away with $100Ms
the stimulus check will be welcome, but face it, it's a joke and so is our government.
it doesn't trickle down. it never did.
This is embarrassing tbh
"The proposed stimulus deal is expected to include roughly $300 per week in enhanced unemployment benefits,"
-- NY Times email
4 x 300 = $1200 = month bottom-market rent, no help for renters in debt with months of unpaid rent, will still be evicted by wealthy bags like Jared
=============
Staring Down Deadline, Congress Nears $900 Billion Stimulus Deal
https://www.nytimes.com/2020/12/16/u...ulus-bill.html
Last edited by boutons_deux; 12-17-2020 at 07:10 AM.
‘Gratuitously cruel’:
Outrage as GOP tries to prevent people on unemployment from also receiving stimulus check
Republican negotiators in Congress are reportedly trying to prevent Americans currently receiving federal unemployment insurance from also getting a direct payment under a soon-to-be-finalized relief package,
Senate Majority Whip John Thune(R-S.D.
told reporters that “there could be language in the deal aimed at addressing
concerns
Robert Reich added that, “funny enough,
[Republicans] never take issue with doubling down on corporate bailouts and tax cuts for the wealthy,”
It's also news to me that Congress isn't in the "double benefit" biz.
In the same bill they're letting businesses take tax deductions for costs paid by PPP.
Corps that got CARES loans didn't forfeit tax cuts. Etc etc etc.
https://www.rawstory.com/2020/12/gratuitously-cruel-outrage-as-gop-tries-to-prevent-people-on-unemployment-from-also-receiving-stimulus-check
74M voted Repug to over themselves, so they can own the libs.
America is ed and un able
Democrats should be telling every journalist in sight they want to give Americans a $1200 check and UI benefits, but that mean Republicans keep trying to screw them while giving the house away to special interests.
Our gutless political culture where Dems act like hostages of the GOP is a stupid joke.
Dems are as enslaved to the BigDonor class as the Repugs, and the BigDonor class wants to give nothing to Labor, the young, the poor, the disabled.
Phony phucks posing as if they are doing something noble with the XMass holiday approaching.
Congress adjourns tomorrow for two weeks.
Any $900B they pass Friday will be in people hands when?
and of course, thieves will steal $100Ms even $Bs of it because Repugs don't care.
btw, Abbott is "sitting" on $2B of CARES money while food banks are way beyond distressed, depleted.
He must return any unspent CARES $$$ on 1 Jan to Treasury, and he's probably figuring out to give it to his BigDonors. All in secret, no doubt.
Last edited by boutons_deux; 12-17-2020 at 10:55 AM.
At this point even some of the MSM is doing their duty for big Corp. Last month they were interviewing Dems it was all "Is any deal better than no deal, tell that to all the suffering Americans" This is a deal and it does all for the people who need it the most
hey, bag Abbott, get off your ass and spend that remaining CARES $2B on TX food banks
North Texas Food Bank, local pantries prepare to lose millions of pounds of food in 2021
Deep losses from three government programs will result in a deficit of 22 million pounds of food,
according to the North Texas Food Bank.
https://www.dallasnews.com/news/2020/12/17/north-texas-food-bank-local-pantries-prepar​e-to-lose-millions-of-pounds-of-food-in-2021
wow, I would have been in favor of Trump interfering this time
Return of the Phony Deficit Hawks
Suddenly, Republicans are pretending to care about debt.
the bad guys — Mitch McConnell and company — are clearly doing some of the right things only under political duress, while giving every indication that they’ll systematically undermine the economy once President-elect Joe Biden takes office.
Should it go to a majority of the population, like those $1,200 checks sent out in the spring?
why is there a limit on the amount of aid?
Republicans appear willing to make a deal because they fear that complete stonewalling will hurt them in the Georgia Senate runoffs.
That trillion-dollar cap, however, makes no sense.
The amount we spend on emergency relief should be determined by how much aid is needed,
the real interest rate on U.S. debt — the rate adjusted for inflation — has lately been consistently negative, which means that the additional debt won’t even create a major future burden.
it’s appropriate to run big deficits in the face of national emergencies.
While Republicans have made the political calculation that they must cough up some money while control of the Senate is still in doubt,
they’re clearly getting ready to invoke fear of budget deficits as a reason to block anything and everything Biden proposes once he’s finally sworn in.
the coming G.O.P. pivot to deficit hawkery will be completely insincere.
Republicans had no problem with rising deficits during the pre-pandemic Trump years;
they cheerfully passed a $1.9 trillion tax cut, mainly for corporations and the wealthy.
shortchanging relief in the name of fiscal prudence would mean
vast, unnecessary hardship for millions of Americans.
enhanced benefits for 10 weeks is like building a bridge that goes only a quarter of the way across a chasm.
Republicans will try to stop all of this, claiming that it’s because they’re worried about debt.
They’ll be lying, and we shouldn’t be afraid to say so.
https://www.nytimes.com/2020/12/17/o...s-deficit.html
Repug tax cut scams increase the deficit REPEATEDLY EVERY YEAR,
while The Trump-Made Pandemic economic and health catastrophe will last about one year more, with economic recovery to "full" unemployment taking longer.
850K NEW unemployment claims last week. Merry ING xmas
”Now It’s Totally Dead”:
Can Small Businesses Survive COVID’s Economic Wrecking Ball?
Warren Buffett has called them “collateral damage,”
but small and medium-size businesses are the lifeblood of the U.S. economy—
and a move by Trump’s Treasury secretary could
make their plight even worse.
On December 15, on CNBC,
Warren Buffett said
small businesses became “collateral damage in a war that our country needed to fight.”
Small Business Administration’s 2019 profile,
there were nearly 31 million businesses with fewer than 500 employees,
representing 99.9% of all companies and
47% of private sector employment.
These businesses create more than 1.5 million jobs a year.
September Goldman Sachs survey,
88% of small business owners said they’d exhausted their PPP loans;
a third had been forced, like Sadlon, to cut wages or lay off employees; and
30% said that without another PPP-like infusion from Congress,
they would run out of cash by the end of the year.
The statistics were even worse for
Black-owned businesses: 43% of owners said they would have no cash by year-end.
In May, Facebook reported 31% of small U.S. businesses had “shut down.”
https://www.vanityfair.com/news/2020...-wrecking-ball
It's now absolutely clear that the "captured" Federal govt exists exclusively to enable/enrich/protect the Capitalist oligarchy,
which itself has not the tiniest ing interest in democracy, humanity, the planet.
The oligarchy would, without question, promote and support an authoritarian dictator and a one-party govt that would not touch the oligarchy's only priority of its wealth and power.
"The Fire Next Time" will be a Repug-controlled govt, and SCOTUS, elected by 74M Trash voters, having closely observed how Trash and his mafiya escaped punishment, that will simply destroy the myth of democratic America.
How the Economy Is Actually Doing, in 9 Charts
People have left the work force altogether — and have not come back.
The number of people who have been out of work long-term continues to rise.
Unemployment has fallen from the worst months, but gaps among demographic groups have widened.
More families are unable to meet their basic needs.
Rent and home prices have risen over the course of the pandemic.
Wages and salaries have bounced back quickly.
The economy has been able to shift from services toward goods.
New business applications are way up over last year.
A resilient but increasingly unequal economy.
https://www.nytimes.com/interactive/2020/12/17/business/economy/economic-indicator-charts-measures.html
Why Some States Are Predicting Higher Revenue Amid Job Losses
As the pandemic batters the poor, the rich prop up state budgets.
States are still broadly hurting from the economic crisis.
Across all of these states, federal stimulus has played a significant role.
It’s not that the crisis was exaggerated;
it’s that the federal aid really worked.
https://www.nytimes.com/2020/12/18/upshot/pandemic-surprising-state-revenue.html
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