Politics and Inflation

[Moonglow]

The funny thing is, no one's GIVING any wealthy person anything, they're earning it. The other thing is, the idle rich are awesome. Paris Hilton can pump more money into the economy on a weekend shopping trip than I can all year.

WEALTH

The billionaires and country clubs that received small business loans from the government​

The billionaires and country clubs that received small business loans from the government

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to filings.

www.cnbc.com

A List Of Rich & Famous People Who Got Small Business Loans From The Government

A List Of Rich & Famous People Who Got Small Business Loans From The Government

We now have a list of businesses who've received at least $150,000 in federal loans as COVID-19 relief — and some of the rich and famous names on the list may surprise you.

www.refinery29.com

Big Banks Prioritized Billions In PPP Funds For Wealthy Clients At The Expense Of Struggling Small Businesses, House Report Finds​

Big Banks Prioritized Billions In PPP Funds For Wealthy Clients At The Expense Of Struggling Small Businesses, House Report Finds

Lenders processed larger loans for wealthy customers at more than twice the speed of smaller loans for the “neediest” small businesses, the report claims.

www.forbes.com

 

[hadit]

WEALTH

The billionaires and country clubs that received small business loans from the government​

The billionaires and country clubs that received small business loans from the government

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to filings.

www.cnbc.com

A List Of Rich & Famous People Who Got Small Business Loans From The Government

A List Of Rich & Famous People Who Got Small Business Loans From The Government

We now have a list of businesses who've received at least $150,000 in federal loans as COVID-19 relief — and some of the rich and famous names on the list may surprise you.

www.refinery29.com

Big Banks Prioritized Billions In PPP Funds For Wealthy Clients At The Expense Of Struggling Small Businesses, House Report Finds​

Big Banks Prioritized Billions In PPP Funds For Wealthy Clients At The Expense Of Struggling Small Businesses, House Report Finds

Lenders processed larger loans for wealthy customers at more than twice the speed of smaller loans for the “neediest” small businesses, the report claims.

www.forbes.com

Do you understand what a loan is? Hint, it's not a gift.

 

[Moonglow]

Do you understand what a loan is? Hint, it's not a gift.

Do you understand loans for small businesses being doled out to wealthy people and companies and how it hurt the small businesses or are you obtuse to the truth that counters yer rhetoric? If you read the articles you will find how many of those that were given loans did not have to pay them back, but I just proved your statement abut how the rich never get anything they earn it is bullshit.

 

[kyzr]

why would either side agree to such a thing? They have it made, we are so busy fighting each other they have carte blanche do do whatever they wish.
You do not really buy into the whole WWE "we hate each other" drama they put on in DC do you?

The DC coxuckers have the ultimate "kabuke dance" scam.
"one hand washes the other" is more like it.
Trump was the ultimate outsider that had to go, the ultimate "bull in the CHINA shop".
In DC they simply take turns at the trough...

 

[Donald H]

You mean the plan NOT to pay people to stay home? Maybe you should name a country where your plan for paying people not to work has been a successful strategy.

Canada doesn't pay people not to work but it does the equivalent with social program spending in that we are handing out free money.

But Canada's social spending is above question because we're become the world's leading country on 'quality of life' for our people.

America is on the brink of introducing a way of catching up!
But it doesn't look like it's going to be possible.

Trump still has a plan to take down bad government.

 

[hadit]

Do you understand loans for small businesses being doled out to wealthy people and companies and how it hurt the small businesses or are you obtuse to the truth that counters yer rhetoric? If you read the articles you will find how many of those that were given loans did not have to pay them back, but I just proved your statement abut how the rich never get anything they earn it is bullshit.

A loan is not a gift. Whether they repaid or not is a separate issue. And, I notice that you are conflating wealthy people with large companies. Wealthy PEOPLE did not get those loans, the companies did.

 

[DBA]

Pretty rude to answer a question with a question. Let me set an example for how to give a direct response to a direct question before asking one of your own.

My girl has worked for a school district that is 90% government assistance as a counselor for years. I hear on a near daily basis the struggles that these kids and families go through. I am fortunate enough to coach for a very well funded school so I see the opposite side of the coin and a completely different set of issues the kids deal with. And yes, many kids from welfare families don't know how to budget and they don't aspire for college or careers because they think the gov will send them a check. I'm not dismissing that as a problem. I'm saying there is much more to the puzzle.

Now I'll ask again... When you say that a family of 5 is doing just fine living off welfare is that from experience or speculation. Be honest please

Ok. Lets do the current math for a family of 6 with a single mom and 5 kids.

$921/mth for SNAP
$1350/mth for Child tax refund with 2 kids under 5 and 3 kids from 6-17.(300x2+250x3)
~$1000/mth - Welfare, but this varies per state
$8400 -The upcoming stimulus check based on a family of 6 from the IRS website. 1400 per person including children

Keep in mind, this person doesn't have to pay any taxes nor for housing so they are getting $3271/mth POST tax not counting the stimulus check, which they would have already received 2 others in the last 1.5 years. That is $39,252 AFTER tax income with no housing or medical costs. Assuming rent of $1200/mth as a low average(14400/yr) and an effective tax rate of 20%, they are making the equivalent of $67k-70k/year NOT including the stimulus checks and not including the fact that a working person making that salary would be paying quite a bit monthly for health insurance. All of this while not working.

Yeah, I don't think many have given this much thought but this is what is going on now. This person will likely never work if this continues nor will his/her kids as they know the system. They will have 5 kids themselves or even more. It is an endless cycle and the Democrats are pushing for even more benefits to be paid for by the working taxpayers.

 

[Harpy Eagle]

Trump was the ultimate outsider that had to go, the ultimate "bull in the CHINA shop".
In DC they simply take turns at the trough...

This is where you and I differ, Trump was never an outsider, he rubbed elbows with all these people. I say he was just one more actor playing out his role

 

[kyzr]

It's not a time to reduce spending, it's a time to increase spending and especially on the infrastructure, on which both sides are in agreement.
Along with that comes some inflation of course.
For America to catch up with the necessity is going to bring substantial inflation.

Big spending that's not paid for. So the $400b interest on the Debt grows and grows...

Here's what's in the bipartisan infrastructure package

President Joe Biden signed a $1.2 trillion infrastructure bill into law Monday. It will deliver $550 billion of new federal investments in America's infrastructure over five years, touching everything from bridges and roads to the nation's broadband, water and energy systems.

www.cnn.com

 

[Moonglow]

A loan is not a gift. Whether they repaid or not is a separate issue. And, I notice that you are conflating wealthy people with large companies. Wealthy PEOPLE did not get those loans, the companies did.

Again, PPP loans are forgivable just read the articles or play stupid and act as if the sun rises in the south wealthy people did get loans that really didn't need them but again deny all you like because that doesn't make the world function.

 

[percysunshine]

Print more money!

Let's party like it is 1999!

 

[Slade3200]

Ok. Lets do the current math for a family of 6 with a single mom and 5 kids.

$921/mth for SNAP
$1350/mth for Child tax refund with 2 kids under 5 and 3 kids from 6-17.(300x2+250x3)
~$1000/mth - Welfare, but this varies per state
$8400 -The upcoming stimulus check based on a family of 6 from the IRS website. 1400 per person including children

Keep in mind, this person doesn't have to pay any taxes nor for housing so they are getting $3271/mth POST tax not counting the stimulus check, which they would have already received 2 others in the last 1.5 years. That is $39,252 AFTER tax income with no housing costs. Assuming rent of $1200/mth as a low average(14400/yr) and an effective tax rate of 20%, they are making the equivalent of $67k-70k/year NOT including the stimulus checks NOT to work.

Yeah, I don't think many have given this much thought but this is what is going on now. This person will likely never work if this continues nor will his/her kids as they know the system. They will have 5 kids themselves or even more. It is an endless cycle and the Democrats are pushing for even more benefits to be paid for by the working taxpayers.

Thats some good math... Looks like a round about way of saying you are speculating and then showing where your speculation is coming from. I'd suggest getting your hands dirty and actually going to a shelter or low income area to volunteer so you can actually interact with a family of 5 on welfare and gain a better understanding for what their life is like... Perhaps there are better solutions than simply cutting welfare benefits

 

[Moonglow]

Print more money!

Let's party like it is 1999!

1999 wasn't all that great for a party.

 

[Slade3200]

Big spending that's not paid for. So the $400b interest on the Debt grows and grows...

Here's what's in the bipartisan infrastructure package

President Joe Biden signed a $1.2 trillion infrastructure bill into law Monday. It will deliver $550 billion of new federal investments in America's infrastructure over five years, touching everything from bridges and roads to the nation's broadband, water and energy systems.

www.cnn.com

Thats not possible... Trump said he was going to eliminate the debt and he followed through with all his campaign promises so there is no debt, you must be lying.

 

[DBA]

Canada doesn't pay people not to work but it does the equivalent with social program spending in that we are handing out free money.

But Canada's social spending is above question because we're become the world's leading country on 'quality of life' for our people.

America is on the brink of introducing a way of catching up!
But it doesn't look like it's going to be possible.

Trump still has a plan to take down bad government.

My family works hard and is rewarded accordingly, minus the already very high taxes we pay. I prefer this system unless the taxes continue to rise. If so, we can cut back on work and move to Canada, albeit taking a hit on the quality of life our current income affords. No reason to work simply to pay for those that won't. If I might add, the US is much more culturally diverse than Canada. Despite all the leftists blabber, that diversity actually makes it quite a bit more difficult to come together and agree to a system that works for everyone and still maintains the tenants of our society which made the US the greatest country on earth.

 

[Donald H]

The spending in America must happen and so the Dems are in the uncomfortable position of needing to stand responsible for it and the inflation that comes with it.

That's the incentive to the Repubs to allow it to happen, but still appear to be standing against it.

Otherwise, the Repubs. will inherit the huge problem that has festered and developed in America.
The issue isn't going away. Bridges will continue to fall and the infrastructure will continue to crumble.

 

[Hum Dinger]

Wealthy as defined by Democrats is 400k+ per year. That is not a trust fund baby or necessarily a thief. Are multi-millionaire professional athletes trust fund babies and thieves? Seems as though envy controls your thoughts.



The agreed to infrastructure bill is about 1.1 trillion The other 3.5 trillion nonsense is full of giveaways. Do some research.

Here's the research:

the Build Back Better Act | Committee Repository | U.S. House of Representatives

docs.house.gov

Every part of this creates jobs and improves the lives of Americans. None of it is a welfare program.

 

[Slade3200]

This is where you and I differ, Trump was never an outsider, he rubbed elbows with all these people. I say he was just one more actor playing out his role

They call idiots "outsiders" now a days... anybody that uses elementary school vocabulary and is politically incorrect can be one.

 

[percysunshine]

1999 wasn't all that great for a party.

It was if you owned dotcom stocks.

 

[DBA]

you continue to mix and match child tax credits and EITC. They are not the same. Under both the dems recovery and build back america bills, child tax credits do phase down for higher earners.

https://crsreports.congress.gov/product/pdf/IN/IN11613

It's debatable whether the income limits are overly generous

Trust me, I know all about the phase out of the child tax credit for higher earners. We have two children. Just another way the "rich" more than pay their fair share.