Topic: Another stimulus package is coming, where should congress be spending this money - page 2. (Read 335 times)

I noticed that people are more aware of these stimulus packages than before, in the sense that they will not accept if this money goes to tax eating companies

The stimulus package should be focuses on the sectors suffering the most during corona crisis. I think sectors such like airlines, hotels, restaurant definitely need more support in the next month.
Also it would help to focus more on the poorer part of the country than just mainly the big corporations.  Most of the times such stimulus packages only focus on the biggest companies and not the many individuals working for smaller firms or are even self employed.

as for a stimulus package
citizen health and economic wellfare should get the money. and a X month no debt period for businesses. (cancel out any debt from date x-y) that way after relaxation of rules. people/businesses are in the exact same position as they were before X

the trick here is that stimulus puts money into pockets.
but also create debt. which the government passes off as debt citizens need to repay in higher taxes.

but simultaneously inflation raises the price of bread from $2 to $3
which effectively makes a $2tril debt (2trillion loaves of bread) become only valued at 1.3trillion loaves of bread

if they can stimulate inflation at a controlled pace. they can take 10k loaves of bread off people. each year. and when the treasury debt is finally due later. only need to pay 6.666 loaves of bread to the debtor. and keep the 3.333k bread for themselves.

as for the long term view. if at every 5-10 years the 'living wage' is doubled from say $7.50 to $15 citizens for the first couple years think they are in profit. and happy to spend. and happy to pay tax. then slowly as the inflation out passes the living wage increase many years prior.

the government comes up with new reasons why its the citizens fault.. and then finally maybe increase the living wage again. once all deceptions/delays are used up

just remember what was a living wage of $1 many decades ago and a house was minimum $20k
is a couple years ago $7.50 and a house minimum $140k

yet citizens just get used to it and dont even notice it.
however a government debt of 20bilion back then (20million houses) can now be paid off with only value of
2.6million houses. so by keeping hold of leases of 20mill houses and only having to sell off 'government assets' of 2.6mill houses. they can then keep the 17.33mill houses free and clear pure profit

but the citizens dont gain from this because when they buy a house for $20k decades ago. the banks add interest charges. they also require the house to be maintained, repaired and insured. meaning over many decades the person has paid out probably ~$140k just to keep it livable. and when selling probably only breaks even in value wise. but blindly thinks they have made $120k 'profit'

isnt the inflation game great.... for the government

Some of it will pump Bitcoin price that's for sure 
But seriously, stimulus packages should only be given to individuals. The goal of these are to stimulate the economy and since the economy of the USA is consumer focused, once individuals consume again, companies should benefit as well.

The second stimulus package has been on the way for a long time, now. When will it get here?

I think PPP still has money available. They need to get rid of (i.e. not extend) the $600 flat-rate unemployment payout and instead fund real unemployment benefits because states are running out of money and that $600 is messing with hiring.

Or just pay everyone (like they did with the $1200 + Trump's letter LOL) for the sake of simplicity. More bureaucracy - more fail. Make it $500-800 per person per month - not quite enough to not work but might be enough to not get evicted if you get laid off from Hertz and need to work in a Walmart. But it kinda screws those who live in more expensive places.

One thing they should stop doing is propping up airlines and such.

The CARES act and PPP already added 4.3 trillion to the debt. This gave small businesses unfettered access to loans, even if they were destined to fail. And it also gave people a bonus 600$ a week in unemployment benefits regardless of what you made prior. Meaning you could make more off unemployment than you would if you were working under pre-coronavirus conditions. It's irresponsible spending and it isn't sustainable.

If there's any more funding from the federal government, give it to unemployment funds. California is having a tough time keeping theirs solvent, and they shut down additional counties recently closing down restaurants, bars, gyms, ect. Presumably, all those employees are now going to resume claiming unemployment benefits so give any additional money to people who are laid off, but keep a cap to ensure no employee can earn more than what they got prior to coronavirus. Writing a 1200$ check to everyone regardless of whether they are financially struggling or not isn't doing anything to help the economy.

Heh.

Obviously the Presidents plan is to continue to open the economy, so that still is happening in many states. Though there are some states that are rolling back openings (Texas and California) because of surging infections numbers.

Though the economic issues revolving around Corona have still devastated many businesses and peoples personal finances, so this is just another (and most likely) the last stimulus to help them out in this very tough time.

Stimulus?  People are already stimulated.  They want to work!

Wouldn't the best short term stimulus be allowing people to work?  :/

Congress and the President have both signaled that they're going to be bringing forth another stimulus package. Yep, that means the money printer is going to be brrrring again.

But in all seriousness, I do want to see what people on this forum/P&S community think about a stimulus package and where they think money should be appropriated.

I'd rather this money go directly to Americans that need this money the most, so I'd much rather direct payments for individuals (under the same thresholds as before) and an expansion of PPL (Paycheck Protection Loans) for small businesses.

What does everyone else think about this?

PS: I think that it is important to talk about the debt and the deficit when it comes to all of this as well. It's crazy to think that just through this Pandemic we've pushed forward a few trillion in stimulus packages that are going to just speed up the expansion of the debt.