Would a payroll tax really stimulate the economy with people not having a paycheck? Totally confused but maybe I'm just stupid and don't get it.
They would be suspending the payroll tax on businesses to hopefully alleviate the taxes that businesses have to pay on their payroll. Wouldn't really affect workers except to allow them to keep their job longer...if the payroll tax was successful in allowing the company to keep that worker hired. I'm not sure it's really going to have the intended effect...if a company has no business, what's the incentive to keep people on that they still have to pay (albeit with no taxes). Maybe they keep hourly workers on and limit their hours, but salaried workers are still going to get laid-off.
Payroll tax hits both sides, employee and employer, but if the company is going to lay people off or go under, this isn't going to help. It's a REALLY expensive measure that I don't think will stem the tide.
Agreed - this is extraordinarily stupid. People who have jobs aren't in financial distress right now. It's the people who's companies are being shut down. Also, just pass the damn bill that already has support, and work on this separately. No need to delay the stuff that everyone agrees on. And everyone needs to stop taking recesses. Senate was in recess over the weekend. House is in recess now. Just stay in DC and do you damn jobs.
Yeah, Me and my wife are expected to keep working so we'll continue to get paid. $2K extra would be great an all but I'm not spending it. Even If i did where would I since everything is closed?
Mcnunchin just announced that they are going to send checks out over the next two weeks to simulate the economy (no mention of how much) and that they will allow for deferral of tax payments for 90 days with no interest.
Sign me up for the UBI idea over this garbage. Give the money to the people who need it, not the corporations with hopes that they will take care of their employees.
****ing supply chain economics. Why do you think that will help with people who are not working. Bullshit. Helping businesses hoping it will trickle down. Bullshit do you actually think this will keep people working if there is no demand. What a joke. Not directed at you. Just at the bullshit politicians
Norway has put in rules as for any company that is financially assisted Ap will refuse emergency assistance to companies that pay dividends and bonuses
Basically what was said this morning in regards to the stimulus: https://www.cnbc.com/2020/03/17/mnu...ing-to-get-cash-to-americans-immediately.html Trump seeks stimulus package potentially worth more than $1 trillion, including direct payments to Americans The White House is seeking a stimulus package worth anywhere from $850 billion to over $1 trillion as the Trump administration looks to battle the economic impact from the coronavirus pandemic, according to a source familiar with the matter. An administration official said the package could include: $500 billion to $550 in direct payments or tax cuts $200 billion to $300 billion in small business assistance $50 billion to $100 billion in airline and industry relief Potentially $250 billion of the package could go toward making direct payments to Americans, an official there told The Wall Street Journal on Tuesday. The developments came hours after Treasury Secretary Steven Mnuchin said that the Trump administration wants to get emergency funds in Americans’ pockets “immediately” amid the coronavirus crisis. “Americans need cash now,” Mnuchin said during a White House press briefing on the administration’s latest efforts to combat the disease. “I mean now in the next two weeks.” “The president has instructed me that we have to do this now,” Mnuchin added. The latest daily briefing came as stocks struggled to recover from one of the worst trading sessions ever a day earlier. Markets have shed trillions of dollars amid the coronavirus spread, which has crippled major industries and forced governments around the world to take drastic steps to try to slow transmission of the disease. States and cities have taken sweeping measures to reduce social interaction, including limiting restaurants to delivery and takeout services. Other businesses have had to lay off and furlough employees. Mnuchin said that an idea of the administration’s plan will come into focus by “the end of the day” Tuesday. He added that the U.S. is unlikely to send checks to millionaires. “I think it’s clear, We don’t need to send people who make a million dollars a year checks,” Mnuchin said. “I think we’re going to do something that gets money to them as quickly as possible. That may not be an accurate way of doing it. Some people obviously shouldn’t be getting a check for $1,000 but we’ll have an idea at the end of the day of what we will be doing.” President Donald Trump said in Monday’s briefing that the U.S. may be able to get the new coronavirus outbreak under control by July or August at the earliest. Equities tanked as Trump delivered those remarks. But major indexes rose during the coronavirus task force’s briefing Tuesday, as Trump and his officials signaled that the administration was mobilizing a major economic response that would go into effect soon. “We’re going big,” Trump said at the presser. “We want to go big, go solid.” “We don’t want airlines going out of business. We don’t people losing their jobs,” the president said. More than 183,000 people have contracted the COVID-19 virus and at least 7,167 have died, according to Johns Hopkins University. In the U.S., more than 5,000 people have caught the coronavirus and at least 85 people have died, according to Johns Hopkins. Other U.S. politicians have already suggested sending checks to Americans as part of an economic relief package. Sen. Mitt Romney, R-Utah, on Monday floated a proposal to give $1,000 to every American to ease the pain caused by the virus. Meanwhile, lawmakers on Capitol Hill are working to push through more emergency spending plans to respond to the virus. Trump signed an $8.3 billion funding package earlier in March, and a second bill is currently working its way through Congress. Senate Minority Leader Chuck Schumer’s office said Monday that he will put forth a third proposal with at least $750 billion in spending to combat the coronavirus pandemic. -- CNBC’s Christina Wilkie and Kayla Tausche contributed to this report.
I think they're trying to implement 'unanimous consent' to expedite proceedings. If one Senator objects, the motion fails and they have to fall back on the normal drawn out process.
Shitbag Don wants credit for this, which is why he'll hold it up until the adults relent and give him two scoops with a cherry on top
