Bailout--Stimulus Thread

[Tiberius]

15 hours ago, CoudyBills said:

Totally agree.  Piss poor corporate management isn't the problem on the American people.  These bailouts really cripple entrepreneurial and capitalist efforts.  Let them fail, another company will come along with better ideas.  

So you are in favor of letting the airlines just go bankrupt? Can they still operate under bankruptcy until new buyers or whatever are found? 

[Foxx]

22 hours ago, TH3 said:

Bailouts?...You wish ...the economy and how people and businesses go about their lives is going to have to be completely restructured then rebuilt in the next 6-12 months...the ability to contain gone...get ready for the Tsunami

6-12 months?

 

 

8 minutes ago, Tiberius said:

So you are in favor of letting the airlines just go bankrupt? Can they still operate under bankruptcy until new buyers or whatever are found? 

here's a novel idea... how 'bout we just let the capitalistic model work. they will emerge much stronger and be better prepared to survive. 

Edited March 22, 2020 by Foxx

[Tiberius]

1 minute ago, Foxx said:

6-12 months?

here's a novel idea... how 'bout we just let the capitalistic model work. they will emerge much stronger and be better prepared to survive. 

Go for it! What could go wrong? 

[Chef Jim]

On 3/17/2020 at 10:36 AM, Tiberius said:

Here’s a neat idea: 

 

Allow unlimited withdrawals from individual retirement accounts at a flat tax of 10 percent, and open that window for all of 2020. Many won’t use the opportunity to withdraw from tax-advantaged accounts, but most will immediately begin to calculate how to maximize their net economic benefit. Some will simply pay off mortgages of homes they intend to retire in, trading one retirement asset for another. The hard-pressed will simply take the money to live on — as they might be forced to do anyway. It will be a salve and an enormous boost to liquidity to know the option exists. If the coming recession is too deep or too enduring, many won’t ever be able to retire, so let Americans judge how best to use their own money.

Wow this is a fantastic idea!!!

 

 

 

 

 

 

 

 

 

You’re a ***** idiot. 

[leh-nerd skin-erd]

5 minutes ago, Chef Jim said:

Wow this is a fantastic idea!!!

 

 

 

 

 

 

 

 

 

You’re a ***** idiot. 

I think people and institutions in the financial sector need to do a better job of telling citizens how important it is to plan for a rainy day by establishing a 3-6 mos rainy day fund, to live within their means and consider apportioning a minimum of 10% of their annual income to retirement/future needs.  Nobody ever says that anywhere. 
 

Just the other day I saw an advertisement where Charles Schwab was suggesting that people fight the virus by upgrading to the Apple iPhone 16.5, much much easier to order the pizza from the car on this model.  
 

We’re barely a week in and people are being encouraged to raid their retirement savings during when the market is swinging wildly.  Btw, on that note, since banks et al are required to suffer along the way, why wouldn’t the govt waive all or a portion of the penalty for early withdrawal? 

[CoudyBills]

35 minutes ago, Tiberius said:

So you are in favor of letting the airlines just go bankrupt? Can they still operate under bankruptcy until new buyers or whatever are found? 

I am in favor of letting the airlines go bankrupt, but given this particular scenario I doubt they would.  I am for them providing their own liquidity.  I don't believe in too big to fail.  They would obviously file for bankruptcy protection and attempt to restructure.  

[Chef Jim]

45 minutes ago, leh-nerd skin-erd said:

 Btw, on that note, since banks et al are required to suffer along the way, why wouldn’t the govt waive all or a portion of the penalty for early withdrawal? 

 

Because people are stupid.  We cannot encourage people to rob their future self to "support" their present self.  This is hard I know but in the grand scheme of retirement planning, which is a 40 plus year endeavor, it is a blip.  My sister asked if her son should take money from his 401k to pay off his student loan now that they've waived interest payments for 60 days.  No no no!!   Even $10k will likely be worth about $175k in 30 years.  Besides that borrowing from your 401k for anything is a dumb idea for many reasons. 

[3rdnlng]

On 3/17/2020 at 4:23 PM, Tiberius said:

It will come back, no worries. 

 

And yes, I try not to, but, not always successful 

Look at yourself in the mirror, that might solve the problem.

[3rdnlng]

2 hours ago, Foxx said:

6-12 months?

 

 

 

Then we can restructure the whole economy, you see? Maybe put Bernie Sanders in charge of that since capitalism has obviously failed.

[Foxx]

50 minutes ago, 3rdnlng said:

Then we can restructure the whole economy, you see? Maybe put Bernie Sanders in charge of that since capitalism has obviously failed.

6-12 years is more like it.

[Tiberius]

What is the Tea Party saying now about this huge bailout? Huge health care spending 

 

Nothing? 

[B-Man]

 

 

Tibsy likes to live in the past almost as much as he loves lying, so maybe it’s understandable why he doesn’t seem to know the difference between what was going on during the Tea Party movement  and what’s going on now: a global pandemic.

 

What if someone told you there is a public health emergency?

 

Would that be news to you?

 

Reimbursing viable business the state forced to close is qualitatively different from bailing out companies that made ***** investments and got bit in the ass.

 

 

 

 

Yeah, this is exactly the spending the Tea Party was upset about  

 

 

Who would have thought people who object to high taxation might want their tax money back when times are tough.

 

Almost like they're consistent and not a hack, unlike you.

 

 

.

Edited March 26, 2020 by B-Man

[Tiberius]

19 minutes ago, B-Man said:

 

 

Tibsy likes to live in the past almost as much as he loves lying, so maybe it’s understandable why he doesn’t seem to know the difference between what was going on during the Tea Party movement  and what’s going on now: a global pandemic.

 

What if someone told you there is a public health emergency?

 

Would that be news to you?

 

Reimbursing viable business the state forced to close is qualitatively different from bailing out companies that made ***** investments and got bit in the ass.

 

 

 

 

Yeah, this is exactly the spending the Tea Party was upset about  

 

 

Who would have thought people who object to high taxation might want their tax money back when times are tough.

 

Almost like they're consistent and not a hack, unlike you.

 

 

.

Tea Party was just a bunch of howling know nothings that stood for nothing but loud complaining, this proves it. They are fine with big government spending as long as a Republican is president. Hypocrisy exposed. 

[Koko78]

22 minutes ago, Tiberius said:

 

[B-Man]

 

 

Hypocrites...............Hahahahahahaha

 

 

Tibsy -- "So weird that people are not behaving like my insulting straw man of them would assume."

 

 

 

The Tea Party of course, was not anti-disaster relief.

 

It was against exploiting disaster to redistribute tax money to unrelated pork projects ...

 

which is why all the former Tea Partiers were disgusted with Pelosi’s bill.

 

 

And why are they "former" ?

 

let's ask the IRS.

 

 

 

 

 

.

 

 

 

[3rdnlng]

Guys, take it easy on Gleeful Gator HAHA Gator Tiberius. He just misses the Tea Bagging. 

[Tiberius]

2 hours ago, Koko78 said:

 

You must of been the biggest tea parties, you were like, get the government out of the way. The government sewage system steals our sh it! Poor stupid Koko, no principles, no core, just a ? 

 

Baa, baa, tea party sheep, have you any wool? 
Yes sir, yes sir, three bags full. 
One for my master and one for my dame, 
And on e for the little boy who lives down the lane.…

 

Oh Koko? 

1 hour ago, 3rdnlng said:

Guys, take it easy on Gleeful Gator HAHA Gator Tiberius. He just misses the Tea Bagging. 

More sexual reference from you. 

 

?<——- 3rd

[Koko78]

20 minutes ago, Tiberius said:

 

 

Yeah, there's people who know the difference between wasteful/unsustainable pork spending, and emergency spending to keep both the economy and the people afloat.

 

Then there's you.

 

Don't be you.

[3rdnlng]

32 minutes ago, Tiberius said:

You must of been the biggest tea parties, you were like, get the government out of the way. The government sewage system steals our sh it! Poor stupid Koko, no principles, no core, just a ? 

 

Baa, baa, tea party sheep, have you any wool? 
Yes sir, yes sir, three bags full. 
One for my master and one for my dame, 
And on e for the little boy who lives down the lane.…

 

Oh Koko? 

More sexual reference from you. 

 

?<——- 3rd

Tiberius, forgetting his many references to the Tea Party in which he called them tea baggers. 

[Tiberius]

2 hours ago, Koko78 said:

 

 I lick public bathroom toilets 

Oh, how interesting

 

Wen't you the idiot telling people to buy Rush Limbo's tea party tea? 

 

Yes you were! 

[B-Man]

 

Quote

  2 hours ago, Koko78 said:

 

 I lick public bathroom toilets 

 

 

6 minutes ago, Tiberius said:

Oh, how interesting

 

Wen't you the idiot telling people to buy Rush Limbo's tea party tea? 

 

Yes you were! 

 

 

Oh how interesting.

 

When he is getting his ass handed to him,  Tibsy erases a posters response and then adds something to misrepresent what they said.

 

 

I would say that makes you a low-life, scum sucking, gutter dweller.

 

 

Make sure you quote me correctly in your next lie about the TEA Party.

 

 

 

.

 

 

 

 

 

 

[BuffaloHokie13]

Do we know if there's a filing date specified for whether they'll check 2019 vs 2018?

[Numark3]

1 hour ago, BuffaloHokie13 said:

Do we know if there's a filing date specified for whether they'll check 2019 vs 2018?

if you filed in 2019, then it will be 2019.  If not, then 2018

[BuffaloHokie13]

2 minutes ago, Crayola64 said:

if you filed in 2019, then it will be 2019.  If not, then 2018

The federal filing deadline was extended to July 15. Surely they aren't waiting until July to send the checks...

[Numark3]

1 minute ago, BuffaloHokie13 said:

The federal filing deadline was extended to July 15. Surely they aren't waiting until July to send the checks...

right, but many people (like me) have already filed 2019 returns.  

[BuffaloHokie13]

Just now, Crayola64 said:

right, but many people (like me) have already filed 2019 returns.  

Right, but that's not what I asked. I asked if we knew the date to file by for them to check your 19 numbers vs your 18 numbers. Essentially, do we know when they're checking? Theoretically I could file tonight. Would that count? How about next week? 

[Numark3]

Just now, BuffaloHokie13 said:

Right, but that's not what I asked. I asked if we knew the date to file by for them to check your 19 numbers vs your 18 numbers. Essentially, do we know when they're checking? Theoretically I could file tonight. Would that count? How about next week? 

when I skimmed it I didn’t see any cutoff dates and it just said “time of determination”

12 minutes ago, BuffaloHokie13 said:

Right, but that's not what I asked. I asked if we knew the date to file by for them to check your 19 numbers vs your 18 numbers. Essentially, do we know when they're checking? Theoretically I could file tonight. Would that count? How about next week? 

but because no determinations have been made, my poor understanding is that you could file today and your 2019 would count once it is accepted by the government (which should be very fast)

[Capco]

16 minutes ago, BuffaloHokie13 said:

Right, but that's not what I asked. I asked if we knew the date to file by for them to check your 19 numbers vs your 18 numbers. Essentially, do we know when they're checking? Theoretically I could file tonight. Would that count? How about next week? 

 

They need your tax return for two main reasons:

-it's usually linked to a bank account they can wire the money to

-it provides a value for Gross Adjusted Income, which is needed to determine how much money you will get

 

I would assume they would check the most recent tax return they have on file (2018 or 2019 only).  If you think you can get more money with 2019 vs 2018, then yes I would file your return ASAP.

 

The checks aren't going out until at least the first week of April, so you have time.  

Edited March 27, 2020 by Capco

[BuffaloHokie13]

10 minutes ago, Capco said:

 

They need your tax return for two main reasons:

-it's usually linked to a bank account they can wire the money to

-it provides a value for Gross Adjusted Income, which is needed to determine how much money you will get

 

I would assume they would check the most recent tax return they have on file (2018 or 2019 only).  If you think you can get more money with 2019 vs 2018, then yes I would file your return ASAP.

 

The checks aren't going out until at least the first week of April, so you have time.  

I'm trying to do the opposite. I'd prefer not to get the check, as I'm doing fine and it's a tax credit anyway as I understand it. Going by 2018 would qualify me for some, so I guess I'll file tonight when I get home. 

Edited March 27, 2020 by BuffaloHokie13

[Numark3]

6 minutes ago, BuffaloHokie13 said:

I'm trying to do the opposite. I'd prefer not to get the check, as I'm doing fine and it's a tax credit anyway as I understand it. Going by 2018 would qualify me for some, so I guess I'll file tonight when I get home. 

you probably know more than me, but it’s an advance on a new 2020 tax credit.

[BuffaloHokie13]

7 minutes ago, Crayola64 said:

you probably know more than me, but it’s an advance on a new 2020 tax credit.

That's basically my understanding. You have to claim it or account for it somehow next year.

[Rob's House]

This bill seems a bit hokey, and not just because of the pork.

 

I'm all for relief to those suddenly forced into unemployment as well as for businesses that have been forced to shut down, but this blanket welfare payment doesn't make a whole lot of sense to me.

 

The overwhelming majority of people getting the relief are still working, and the vast majority of the money allocated to those who have been affected is being distributed to those who have not.

 

I understand that it's hard to implement a massive organized national relief project on short notice, but this seems utterly ridiculous to my unqualified eye.

 

Most of the people in my office are going to get a check, and we haven't missed a day of work. Same with my wife's office. But a friend of mine who's teetering on the edge of financial ruin because of the virus isn't going to get *****. 

 

Maybe the logistics make it unworkable, but I'd be a lot happier with a Kung flu emergency relief bill that is targeted towards assisting those who have been affected by it rather than a national income based welfare check.

 

[Capco]

26 minutes ago, Rob's House said:

This bill seems a bit hokey, and not just because of the pork.

 

I'm all for relief to those suddenly forced into unemployment as well as for businesses that have been forced to shut down, but this blanket welfare payment doesn't make a whole lot of sense to me.

 

The overwhelming majority of people getting the relief are still working, and the vast majority of the money allocated to those who have been affected is being distributed to those who have not.

 

I understand that it's hard to implement a massive organized national relief project on short notice, but this seems utterly ridiculous to my unqualified eye.

 

Most of the people in my office are going to get a check, and we haven't missed a day of work. Same with my wife's office. But a friend of mine who's teetering on the edge of financial ruin because of the virus isn't going to get *****. 

 

Maybe the logistics make it unworkable, but I'd be a lot happier with a Kung flu emergency relief bill that is targeted towards assisting those who have been affected by it rather than a national income based welfare check.

 

Giving the money to most people directly doesn't just help those people.  The vast majority of people who receive this money are going to spend it almost immediately.  This is just as much of a stimulus for the economy as a whole as it is for the individual American.  

 

But you're right that there are some pitfalls.  For example, anyone who didn't make enough money to even file a federal tax return for 2018 or 2019 is SOL afaik, unless they are already receiving payments from SSI or Social Security.  That's basically the homeless plus anyone who predominantly works under the table, and those people are typically below the poverty line.  

[fansince88]

Did you all realize this guy took the screen name of the very man that ruled in favor of putting Jesus to death. No wonder Trump wanting to get the economy up around Easter hacks him off.

[Rob's House]

4 hours ago, Capco said:

 

Giving the money to most people directly doesn't just help those people.  The vast majority of people who receive this money are going to spend it almost immediately.  This is just as much of a stimulus for the economy as a whole as it is for the individual American.  

 

But you're right that there are some pitfalls.  For example, anyone who didn't make enough money to even file a federal tax return for 2018 or 2019 is SOL afaik, unless they are already receiving payments from SSI or Social Security.  That's basically the homeless plus anyone who predominantly works under the table, and those people are typically below the poverty line.  

 

I've never thought much of that theory. It kind of seems reasonable if you think about it on a superficial level, but when you think about the underlying dynamics it really doesn't make a whole lot of sense.

 

It makes even less sense in this scenario when the economic downturn is due to people being unable to conduct business. I'm not sure how the waiter, hairdresser, or anyone else whose job/business is shut down is going to benefit from other people buying a bunch of sht from those who haven't been shut down.

[billsfan1959]

16 hours ago, Rob's House said:

This bill seems a bit hokey, and not just because of the pork.

 

I'm all for relief to those suddenly forced into unemployment as well as for businesses that have been forced to shut down, but this blanket welfare payment doesn't make a whole lot of sense to me.

 

The overwhelming majority of people getting the relief are still working, and the vast majority of the money allocated to those who have been affected is being distributed to those who have not.

 

I understand that it's hard to implement a massive organized national relief project on short notice, but this seems utterly ridiculous to my unqualified eye.

 

Most of the people in my office are going to get a check, and we haven't missed a day of work. Same with my wife's office. But a friend of mine who's teetering on the edge of financial ruin because of the virus isn't going to get *****. 

 

Maybe the logistics make it unworkable, but I'd be a lot happier with a Kung flu emergency relief bill that is targeted towards assisting those who have been affected by it rather than a national income based welfare check.

 

 

On the individual side, I'm not sure about the logistics either. However, rather than sending checks out directly to individuals with no mechanism in place to determine who actually needs the assistance or how much they actually need - couldn't they have desgnated those funds to upgrading and modifying the ability to process and pay unemployment claims in a way tailored to individual needs?

[Tiberius]

 

Quote

 

President Trump on Friday took a step to immediately try to curb oversight provisions in Congress’ $2 trillion coronavirus spending package, seeking to assert presidential authority over a new inspector general’s office.

The move could presage a major battle between the White House and Capitol Hill as the Trump administration moves to implement the new law.

In a White House signing statement released Friday evening, Trump called “unreasonable” the law’s mandate that a new Special Inspector General for Pandemic Recovery notify Congress immediately if the White House doesn’t cooperate with an audit or investigation. The new inspector general is supposed to monitor how the Treasury Department extends loans and loan guarantees to businesses, among other things.

Under the legislation, the new inspector general’s office is required to tell Congress “without delay” whenever administration officials are unreasonably withholding crucial information from investigators. But the White House signing statement said the administration will not allow the inspector general to tell Congress without “presidential supervision,” calling it a violation of executive branch authority.

“I do not understand, and my Administration will not treat, this provision as permitting the [inspector general] to issue reports to the Congress without the presidential supervision required by the Take Care Clause, Article II, section 3,” the White House statement said.

The new inspector general is supposed to be nominated by the White House and confirmed by the Senate.

The $2 trillion spending law gives the Treasury Department broad discretion in how it sets up new lending programs. Trump has signaled he wants certain industries, such as hotels and cruise ships, to have access to the taxpayer-backed funding. The Treasury Department has not said so far how it will decide who receives money and what the terms will be. Trump said Friday night that his aides would be consulting with top Wall Street executives to make some of the decisions.

 

Already violating the bipartisan bill meant to save our country. What could you expect from the Trump U. huckster. 

https://www.washingtonpost.com/business/2020/03/27/trump-coronavirus-inspector-general/

[TPS]

20 minutes ago, Tiberius said:

 

Already violating the bipartisan bill meant to save our country. What could you expect from the Trump U. huckster. 

https://www.washingtonpost.com/business/2020/03/27/trump-coronavirus-inspector-general/

Why are you concerned about the $4 trillion opaque giveaway to businesses without oversight?  Don't you know the real problem is the $300 billion given to people, some of whom might not need it?  Focus dude.

[Tiberius]

Just now, TPS said:

Why are you concerned about the $4 trillion opaque giveaway to businesses without oversight?  Don't you know the real problem is the $300 billion given to people, some of whom might not need it?  Focus dude.

That's right, if the lazy unemployed get money, why shouldn't Trump hand out cash anyway he wants? 

[Foxx]

the money hasn't gone anywhere yet but you know... don't let that stop you from crying, #orangemanbad.  whatever will you people do when he is gone? go back to screaming about the boogeyman under your bed? whether you realize it or not, that is essentially what you and your narrative feeders are doing.

Edited March 28, 2020 by Foxx