Ah, the funny money, and the debt we owe ourselves half of? Yeah, I understand the Weimar and Zimbabwe problems, those are hypothetical outcomes for the USA at this point in time, especially since the Treasury has taken over the FED. What is not hypothetical is that the checks to individuals, is money, in their pocket, that they can use to NOT fall into the trap laid by Dim Gov' with their shut downs. Trump Bucks are a countermove to halt something much worse. Now, lets open up the county section by section, so another counter move by Robin Hood is not needed.
These funds “transfers” are putting the debt onto the people. Yes, they will hopefully “unwind” the policy at the right time, but it is not exactly free money.
I’m just glad we are getting the loans at near zero % interest rate. Debt = money.
If we get an infrastructure bill out of this and borrow at 0%, it will be a tangible silver lining to all this madness.
This is exactly where my thought on this whole thing is. We need to fix the grifter machine that is DC, and that wont happen if Trump doesn't make counter moves that keep things stable, and build his approval. It sucks, but that is the game that is being played in DC and also state and local governments. Besides, nearly half of the debt is owed between accounts within the Federal government. And it is all valued with funny money to begin with.
They also dropped the liquidity to 5%. Fractional reserve lending is such a farce.
I think the biggest reason banks inflate bubbles is due to this aspect of lending. It burns me up that they can charge interest on loans from money they don’t actually have. I think a big rectification could come in the form of adjusting APR’s based on the percentage of the loan in reserves as opposed to the full amount.
When the only thing that actually has value is our labor, charging us interest on money they don’t have is theft with a capital T.
Besides the debt, in general, this is by no means a Robin Hood event - people who earned 0 dollars and and paid 0 taxes get a full check - they never had money taken from them. However, people making more than 75k get nothing and did pay taxes - far more than others. It is effectively a wealth transfer and another standard government program giving handouts - although it’s bit different this time as usually government rules hurt the economy whereas this time, it was stopped.
Although I fully understand your points, those who make over the 75K will see a check reduced by 5 bucks per 100 dollars over the limits placed by the government up to about 98K. People who didn’t work and cant be claimed as a dependent are eligible with a SS#, but not otherwise. Not too many people fit that category.
It’s not a good situation any way we slice it, but I can more easily defend this type of stimulus over previous bailouts where ‘too big to fail’ allowed banks and corporations to transfer their debts to the people.
It’s still unfair to people who paid taxes and don’t get a check, however, it’s a tolerable stimulus vs. others as it was forced closure of the economy, and frankly, the economy might collapse without it. It’s not a great move, but the only move Trump could do. At least this money will go immediately back into the economy, which is the intent.
This is no where close to true. the poorest pay the most in taxes. You think the fancy suburbs are paying the most taxes? Is it the apartment owners? No, it is the apartment renters that pay those taxes in the rents. They also pay like the rest of us in everything we buy, payroll taxes, tangible goods taxes, personal property taxes. And all of these are pushing up prices. This is the actual evil in inflation, the double whammy on the poor and middle class. Increase taxes and you increase prices. All taxes are paid by the persons who cannot pass them off to someone else down the line, and a frightening % (its 50%+) of prices are these hidden taxes.
I was typing under the context of all taxes, not just Federal. I also did not intend to include people who are not working. But now we can also see how much of a mess the tax law is that we have to make so many qualifying statements to make sure we are discussing the same thing. My point, taxes are a real inflationary problem. I'll add here, I also think it is not an accident that taxes (along with other things) have been pushing prices placing more and more people on the edge of ruin, it is not an accident. And, if Trump ignored this fact, he would hand a real world confirmation to the Dims, that they are right and the poor "need" them, regardless of any idealized belief about how our economy should be.
Its not at all like the TARP, which was given to banks and then people still lost their homes. If TARP would have been used to write down the inflated portion of mortgages, then it would be similar (and people would have kept their homes). But TARP didn't, it was Govt and their cronies fleecing the peasants yet again.
But a one time payment is not a UBI. The longer the shut-downs last, the more likely people will become comfortable in their poverty though, so let's open up.
Sorry, but no. They are just increasing the federal debt which will have to be repaid at a later date....by you guessed it...higher taxes.
Open the economy and stop sending people checks.
Ah, the funny money, and the debt we owe ourselves half of? Yeah, I understand the Weimar and Zimbabwe problems, those are hypothetical outcomes for the USA at this point in time, especially since the Treasury has taken over the FED. What is not hypothetical is that the checks to individuals, is money, in their pocket, that they can use to NOT fall into the trap laid by Dim Gov' with their shut downs. Trump Bucks are a countermove to halt something much worse. Now, lets open up the county section by section, so another counter move by Robin Hood is not needed.
These funds “transfers” are putting the debt onto the people. Yes, they will hopefully “unwind” the policy at the right time, but it is not exactly free money.
I’m just glad we are getting the loans at near zero % interest rate. Debt = money.
If we get an infrastructure bill out of this and borrow at 0%, it will be a tangible silver lining to all this madness.
This is exactly where my thought on this whole thing is. We need to fix the grifter machine that is DC, and that wont happen if Trump doesn't make counter moves that keep things stable, and build his approval. It sucks, but that is the game that is being played in DC and also state and local governments. Besides, nearly half of the debt is owed between accounts within the Federal government. And it is all valued with funny money to begin with.
They also dropped the liquidity to 5%. Fractional reserve lending is such a farce.
I think the biggest reason banks inflate bubbles is due to this aspect of lending. It burns me up that they can charge interest on loans from money they don’t actually have. I think a big rectification could come in the form of adjusting APR’s based on the percentage of the loan in reserves as opposed to the full amount.
When the only thing that actually has value is our labor, charging us interest on money they don’t have is theft with a capital T.
Besides the debt, in general, this is by no means a Robin Hood event - people who earned 0 dollars and and paid 0 taxes get a full check - they never had money taken from them. However, people making more than 75k get nothing and did pay taxes - far more than others. It is effectively a wealth transfer and another standard government program giving handouts - although it’s bit different this time as usually government rules hurt the economy whereas this time, it was stopped.
Although I fully understand your points, those who make over the 75K will see a check reduced by 5 bucks per 100 dollars over the limits placed by the government up to about 98K. People who didn’t work and cant be claimed as a dependent are eligible with a SS#, but not otherwise. Not too many people fit that category.
It’s not a good situation any way we slice it, but I can more easily defend this type of stimulus over previous bailouts where ‘too big to fail’ allowed banks and corporations to transfer their debts to the people.
It’s still unfair to people who paid taxes and don’t get a check, however, it’s a tolerable stimulus vs. others as it was forced closure of the economy, and frankly, the economy might collapse without it. It’s not a great move, but the only move Trump could do. At least this money will go immediately back into the economy, which is the intent.
Hear, Hear!
Not yet, but man I know it won't happen if Dims are in power.
This is no where close to true. the poorest pay the most in taxes. You think the fancy suburbs are paying the most taxes? Is it the apartment owners? No, it is the apartment renters that pay those taxes in the rents. They also pay like the rest of us in everything we buy, payroll taxes, tangible goods taxes, personal property taxes. And all of these are pushing up prices. This is the actual evil in inflation, the double whammy on the poor and middle class. Increase taxes and you increase prices. All taxes are paid by the persons who cannot pass them off to someone else down the line, and a frightening % (its 50%+) of prices are these hidden taxes.
I was typing under the context of all taxes, not just Federal. I also did not intend to include people who are not working. But now we can also see how much of a mess the tax law is that we have to make so many qualifying statements to make sure we are discussing the same thing. My point, taxes are a real inflationary problem. I'll add here, I also think it is not an accident that taxes (along with other things) have been pushing prices placing more and more people on the edge of ruin, it is not an accident. And, if Trump ignored this fact, he would hand a real world confirmation to the Dims, that they are right and the poor "need" them, regardless of any idealized belief about how our economy should be.
Its not at all like the TARP, which was given to banks and then people still lost their homes. If TARP would have been used to write down the inflated portion of mortgages, then it would be similar (and people would have kept their homes). But TARP didn't, it was Govt and their cronies fleecing the peasants yet again.
Drain the Fed, give it to the people.
But a one time payment is not a UBI. The longer the shut-downs last, the more likely people will become comfortable in their poverty though, so let's open up.