Ray From Cleveland
Diamond Member
- Aug 16, 2015
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After the 11th worst day in the history of the stock market, media-averting Trump was forced to take the stage yet again to attempt to calm the markets.
The plan has several elements. First, a payroll tax cut. Second, some kind of unspecified relief for businesses. And finally, some kind of relief for people who can't take time off from work if they come down with the bug because they live from paycheck to paycheck. Absolutely no details were given for what that third action item will be.
Of course, all of these plans are very big, huge, wonderful, terrific, and the best anyone has ever seen...
So, if you have to stay home because you *cough* might have *cough* the coronavirus *achoo!*, excuse me, and will get paid for it, that is not going to be *cough hack cough* wide open to fraud and abuse or anything...
Trump floats payroll tax cut, other financial relief amid coronavirus outbreak
If testing is available then that can cut down on fraud and abuse and on this I tend to take the side of precaution.
Payroll taxcuts I don't think will do much, sure it will temporarily boost the stock market but it doesn't resolve anything.
The other is just corporate bailouts.
If things keep sliding, the feds will cut the interest rate a quarter or half point to get the ball rolling again.