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Airlines Are Getting Bailout Money—
But There Are a Lot of Strings Attached
https://www.cntraveler.com/story/air...matic_Business
AFAIK, it's $2 trillion for the plebe/corporate, with $500 billion in there to leverage the $4 trillion slush fund from the treasury.
I'm being generous here too, not counting the earlier market bailout.
And sure, some people will claim, "they're just loans". But that's not how monetarism works.
Airlines Are Getting Bailout Money—
But There Are a Lot of Strings Attached
https://www.cntraveler.com/story/air...matic_Business
The PPP program is perfect to keep a lot of people employed
Trump removes inspector general who was to oversee $2 trillion stimulus spending
In just the past four days, Trump
has ousted two inspectors general and
expressed displeasure with a third,
a pattern that critics say is a direct assault on one of the pillars of good governance.
https://www.washingtonpost.com/national-security/trump-removes-inspector-general-who-was-to-oversee-2-trillion-stimulus-spending/2020/04/07/2f0c6cb8-78ea-11ea-9bee-c5bf9d2e3288_story.html
This is gonna be a long thread if people care to follow the money.
Stories of misuse must occur when this much $ goes out.
Michigan worker fired 2 years ago for stealing, uses c virus money to escape massive 10 year credit card fraud; lawyers up.
Airline executive retires with millions directly after c virus $ misuse.
Last edited by pgardn; 04-08-2020 at 07:50 AM.
Twitter stories could explode when some feel they got left out and read about those who got bailed out needlessly.
I expect the people worried about the federal debt will be the greatest contributors... ehhh... nah.
How's that working out so far?
Looks like Congress is going to add another 250 Billion to the pot. In two days Frost bank alone has taken over a billion dollars in applications. Minuchin says funding will be within 2-3 weeks of receipt of applcations.
Critics claim Trump’s ‘confession’ on permanent payroll tax cut is ‘an excuse to destroy our Social Security system’
President Donald Trump on Tuesday once again voiced
his support for slashing the payroll tax—
the primary funding mechanism for Social Security and Medicare—
and said he would be calling for such a cut even if the U.S. were not currently in the midst of a nationwide public health and economic emergency.
“I would love to see a payroll tax cut,”
Trump, who has repeatedly vowed to “save” Social Security,
Trump himself has also backed the idea of permanently cutting the payroll tax in talks with Republican lawmakers.
“The payroll tax cut would be a great thing for this country,”
“I would like to have it regardless of [the coronavirus crisis].”
‘payroll tax holiday’ has nothing to do with helping workers and
everything to do with undermining Social Security.”
gutting Social Security’s dedicated funding as an pretext to demand benefit cuts,”
“If Trump and Republicans retain power after November’s elections, they will
make sure that corporations never repay Social Security,”
“Then, Republicans will use the
reduced trust fund as an excuse to destroy our Social Security system.”
White House is considering proposing a payroll tax cut—
as well as a capital gains tax cut—
as part of an additional coronavirus stimulus package.
https://www.rawstory.com/2020/04/critics-claims-trumps-confession-on-permanent-payroll-tax-cut-is-an-excuse-to-destroy-our-social-security-system/?utm_source=&utm_medium=email&utm_campaign=4236&re cip_id=298460&list_id=1
Never let a crisis go to waste
Repugs, oligarchy s, are ing non-oligarchy Americans into un ability
What sucks is that these banks can be selective in prioritizing who gets the funds. My guess is that their big clients (who will be asking for more $) are going to be in the front of the line while hundreds of smaller business will have to hope there's money left over. Compounding the problem is that Wells Fargo had to cap their loans due to regulations stemming from their fake account ordeal. They're one of the largest small business lenders in the country.
The "payroll tax" goes directly into the general fund. There is no "Social Security Fund".Critics claim Trump’s ‘confession’ on permanent payroll tax cut is ‘an excuse to destroy our Social Security system’
President Donald Trump on Tuesday once again voiced
his support for slashing the payroll tax—
the primary funding mechanism for Social Security and Medicare—
and said he would be calling for such a cut even if the U.S. were not currently in the midst of a nationwide public health and economic emergency.
“I would love to see a payroll tax cut,”
Trump, who has repeatedly vowed to “save” Social Security,
Trump himself has also backed the idea of permanently cutting the payroll tax in talks with Republican lawmakers.
“The payroll tax cut would be a great thing for this country,”
“I would like to have it regardless of [the coronavirus crisis].”
‘payroll tax holiday’ has nothing to do with helping workers and
everything to do with undermining Social Security.”
gutting Social Security’s dedicated funding as an pretext to demand benefit cuts,”
“If Trump and Republicans retain power after November’s elections, they will
make sure that corporations never repay Social Security,”
“Then, Republicans will use the
reduced trust fund as an excuse to destroy our Social Security system.”
White House is considering proposing a payroll tax cut—
as well as a capital gains tax cut
as part of an additional coronavirus stimulus package.
https://www.rawstory.com/2020/04/critics-claims-trumps-confession-on-permanent-payroll-tax-cut-is-an-excuse-to-destroy-our-social-security-system/?utm_source=&utm_medium=email&utm_campaign=4236&re cip_id=298460&list_id=1
Never let a crisis go to waste
Repugs, oligarchy s, are ing non-oligarchy Americans into un ability
Don't worry Boo...we have given up and accepted Modern Monetary Theory. we will just print money to pay for SS.
Damn...Bank of America already received 33 billion in applications from 177,000 businesses as of close of day Monday.
Maybe not. The banks actually make more money processing the smaller ones.
We were told there were COVID-19 tests for anyone who wants one a month ago. We're still waiting.
You want to be tested?
Idk...if a bank has a client with a million dollar account, are they really going to put him behind the mom and pops who were already struggling?
testing and seismological analyses are the only ways to have an accurate picture of who doesn't have it, who has it, and who had it.
In the absence of accurate, or even any data, epidemiologists say actuality could be 50x to 100x worse
Safe assumption is that covid-19 will be infecting Ms of Americans for the next couple years, if the less transmissible, less fatal 2009/2010 H1N1 epidemic is any guide
i want to be tested.
It says i can't be tested
Then you probably don't need to be tested.
Some interesting trends here.
https://www.usdebtclock.org/
So these small business loans supposedly will get forgiven, right (as long as they're used for payroll and the like)? But they are still loans, so anything can happen. Are the large bailouts to airlines etc structured as loans also?
The PPP loans have to be meticulously do ented as to how the money was spent to be forgiven. I have no idea on the airline loans. I have heard noise about the government taking stock like they did with GM last time.
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