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Wed Mar 25, 2020, 08:52 PM

HuffPo: Democrats Are Handing Donald Trump The Keys To The Country

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The emergency coronavirus legislation that the Senate agreed to on Tuesday can only be described as an outrage. It is not an economic rescue package, but a sentence of unprecedented economic inequality and corporate control over our politics that will resonate for a generation.

It represents a transfer of wealth and power to the super rich from the rest of us, with the support of both political parties ― a damning statement about the condition of American democracy.

Final text of the bill has not been released, but according to a legislative draft, the new law would establish a $4.5 trillion corporate bailout fund overseen by Treasury Secretary Steve Mnuchin, with few substantive constraints. Some outlets are reporting this as a $500 billion fund, but $425 billion of that can be leveraged 10 times over by the Federal Reserve, resulting in a multi-trillion-dollar program.

The bill permits bailed out companies to lay off up to 10% of their workforce over the next six months, with no restrictions thereafter. Mnuchin would have authority to waive any upside for the public in its new investments, and the billís restrictions on stock buybacks at bailed-out firms are too temporary to be significant. Bailed out companies could even pay dividends to their shareholders.
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In exchange for this takeover, Democrats got four months of more generous unemployment benefits for the millions who will be laid off and a one-time check of $1,200 per adult, eliminating a Republican restriction that would have limited poor people to just $600 and phasing out payments for six-figure incomes. These are not bad provisions, but they pale in comparison to the handout offered to the rich.


{much much more at the jump}

https://www.huffpost.com/entry/senate-democrats-donald-trump-coronavirus-bill_n_5e7b77a6c5b62a1870d62d83


I hope this isn't true.

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18 replies, 1053 views

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:00 PM

1. Perhap's just enough rope, sadly. Investigate, watch him try to funnel stimulus to mega-church...

...pastors as you know he's want to do and tell the truth before the elections.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:00 PM

2. I would hate to think we're back to playing nice again.

If so, I give up.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:00 PM

3. If that was the only way to get the needed funds to help the People, then so be it.

The regular citizens have been fucked by the corporate ownership of our government for decades.

Correcting that will take a tremendous effort and unrelenting activism. A correction is not going to happen now, in the midst of the pandemic.

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Response to scarletwoman (Reply #3)

Wed Mar 25, 2020, 09:08 PM

6. my feelings as well...

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Response to scarletwoman (Reply #3)

Wed Mar 25, 2020, 09:40 PM

10. Yes, this.

Itís a compromise. We had to accept some shitty stuff in order to get good things in the bill which will help normal Americans.

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Response to scarletwoman (Reply #3)

Wed Mar 25, 2020, 09:51 PM

13. What are you talking about?

This Bill makes it worse on the citizens. Correcting it? to correcting it is to be not lying about what you can and can't do. A democrat would know this.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:08 PM

4. What the Senate does is one thing but it's not the only thing. The House still has to approve

and vice versa. Popcorn time...

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:08 PM

5. Final text of the bill has not been released, but according to a legislative draft....

whatever. I don't have nearly enough anger and hate to spread among Democratic Senators doing their jobs. Especially my Senators, who I greatly admire. I hate this kind of bs, and I hate that I let it piss me off.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:15 PM

7. Yes, Huffpo, it's the Democrats' fault Republicans are despicable theives

Republicans lard up the bill with giveaways to the rich, but ZOMG! The Democrats traded stuff so that it wouldn't be completely giveaways to the rich! Sound the alarm!

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:16 PM

8. Holy shit, every penny of the $4 trillion will go bye bye into the wallets and secret t bank account

They pay no taxes, so the middle class and poorer classes will be saddled with paying off this entire $4 trillion dollar grand not strings attached bill that went into the pockets of the rich once again.

This is involuntary servitude and highway robbery rolled up together as one.

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Response to magicarpet (Reply #8)

Wed Mar 25, 2020, 09:56 PM

14. I knew that it would roll this way.

To say that I am disappointed would be a gross understatement.

I cannot believe this shit.

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Response to magicarpet (Reply #8)

Wed Mar 25, 2020, 10:06 PM

17. No, it won't.

:::Big, deep sigh:::::


No....no it won't

The overwhelming majority of that "money", and I put that in quotes intentionally, is going to be short term loans.

It's like the never ending myth that the American taxpayer was on the hook for (go ahead, make up an outrageous number) dollars back in 2008 and '09 when in fact, most of the money that went to the banks back then was paid back WITH INTEREST on time or early.

This is an oft repeated idea - that the Federal Reserve just willy nilly dumps truckloads of C-notes onto the loading docks of banks.

It just doesn't happen that way.

It doesn't.

This is not to suggest that Mnuchin is in any way the right guy for this job. He isn't, not by a long stretch. But this isn't his call and his alone, I guarantee you.

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Response to TheBlackAdder (Original post)


Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:42 PM

11. Guy isn't very happy with Democrats

But Iím not sure what he expected Democrats to do, they held out for as much as they could. This isnít a game of chicken.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:46 PM

12. Eh

Author is Zach Carter. He's a Sanders supporter who writes many articles ripping Dems. I hate to give him clicks, but here's one from 5 days ago about how Pelosi's & Biden's responses to the coronavirus have been a "political disaster":

https://www.huffpost.com/entry/nancy-pelosi-joe-biden-coronavirus-response_n_5e74fc86c5b63c3b648fdda1

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 09:58 PM

15. No win situation for the House Democrats

They are not going to hold up the $1200/2400 payments to the majority of the population, talk about a PR nightmare before an election.

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 10:03 PM

16. maybe not, "Pelosi eyeing more direct cash payments in next emergency bill"

Speaker Nancy Pelosi (D-Calif.) said Wednesday that Democrats will press for another wave of direct payments to Americans as Congress begins weighing the next round of emergency relief in response to the coronavirus crisis... calling for another round of checks in the next wave of stimulus

https://thehill.com/homenews/house/489587-pelosi-democrats-eyeing-more-cash-payments-in-next-emergency-bill

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Response to TheBlackAdder (Original post)

Wed Mar 25, 2020, 10:27 PM

18. I knew it! All this shit is the Democrat's fault! LOL

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