1. Let's see how everyone is doing:
A. American corporations have $1.67 trillion in cash on hand. But they don't like spending it.
B. American family - median - has $11,000 savings. That drops significantly when 401k/SEP savings are removed.
C. Small businesses are strapped...
A. American corporations have $1.67 trillion in cash on hand. But they don't like spending it.
B. American family - median - has $11,000 savings. That drops significantly when 401k/SEP savings are removed.
C. Small businesses are strapped...
2...
...for cash.
D. Giving another half a billion to corporate America is a short-term boost. If customers - the people GOP always forget provide revenue - have little cash, the dole-out to corporations will accomplish little...
...for cash.
D. Giving another half a billion to corporate America is a short-term boost. If customers - the people GOP always forget provide revenue - have little cash, the dole-out to corporations will accomplish little...
3...
E. Corporations that hit a significant cash flow problem have the power to file for Chapter 11 bankruptcy and obtain what is called DIP financing through the financial system to continue operating at largest capacity needed to preserve company....
E. Corporations that hit a significant cash flow problem have the power to file for Chapter 11 bankruptcy and obtain what is called DIP financing through the financial system to continue operating at largest capacity needed to preserve company....
4...
F. Individuals cannot obtain DIP financing to pay for rent, food, housing or anything else. Personal Chapter 11 has not effect on credit card debt, which is why working class Chapter 11 often covert to Chapter 7 (liquidation.)...
F. Individuals cannot obtain DIP financing to pay for rent, food, housing or anything else. Personal Chapter 11 has not effect on credit card debt, which is why working class Chapter 11 often covert to Chapter 7 (liquidation.)...
8...
G. Giving individuals a one-time check that wouldn't even cover rent is absurd. Particularly when huge cash is being doled out to those with cash reserves and Chapter 11 options....
G. Giving individuals a one-time check that wouldn't even cover rent is absurd. Particularly when huge cash is being doled out to those with cash reserves and Chapter 11 options....
9...
H. When GOPrs say this corporate welfare would help them pay workers (bullshit..they NEVER use government cash for that) what they are saying is they expect working class people to ignore instructions to limit spread of COVID-19 by going to work and helping stock prices...
H. When GOPrs say this corporate welfare would help them pay workers (bullshit..they NEVER use government cash for that) what they are saying is they expect working class people to ignore instructions to limit spread of COVID-19 by going to work and helping stock prices...
10...
I. Giving government money to corporations is a form of socialism, with the government choosing which businesses do well and which do not. Yet GOPrs say it is helping Americans through a crisis that is "socialism." They are liars, dont know what the word means, or both...
I. Giving government money to corporations is a form of socialism, with the government choosing which businesses do well and which do not. Yet GOPrs say it is helping Americans through a crisis that is "socialism." They are liars, dont know what the word means, or both...
11...
J. The financial system - which MUST maintain strong cash or the whole thing collapses - will be obtaining cash from the Fed. Absent an across-the-board collapse brought on by irresponsible financial practices, no Congressional appropriation should be necessary....
J. The financial system - which MUST maintain strong cash or the whole thing collapses - will be obtaining cash from the Fed. Absent an across-the-board collapse brought on by irresponsible financial practices, no Congressional appropriation should be necessary....
12...
K. "Capitalism" is about market forces. Corporations are supposed to prepare for disaster. That is what cash on hand should be used for in crisis. That is why the financial system provides corporate loans. If companies didn't prepare - the GOP wants to abandon the market..
K. "Capitalism" is about market forces. Corporations are supposed to prepare for disaster. That is what cash on hand should be used for in crisis. That is why the financial system provides corporate loans. If companies didn't prepare - the GOP wants to abandon the market..
13...
...which entails the well-managed surviving and the poorly managed collapsing. That's capitalism, which the GOP pretends to love, but intervenes in anytime businesses might lose money from bad management....
...which entails the well-managed surviving and the poorly managed collapsing. That's capitalism, which the GOP pretends to love, but intervenes in anytime businesses might lose money from bad management....
14...
..So, given that a lot of GOP approach makes little sense, what is motivating this?
L. Corporations give tons of political contributions. So do CEO's. Working people - who are facing an inability to buy food and pay rent - do not.
This is a #BriberyBailout....
..So, given that a lot of GOP approach makes little sense, what is motivating this?
L. Corporations give tons of political contributions. So do CEO's. Working people - who are facing an inability to buy food and pay rent - do not.
This is a #BriberyBailout....
15...GOPrs *right now* are getting contributions from companies salivating for the $500 billion. How much will go to multi-million salaries for CEOs? How much for stock buybacks to hit executive stock option strike prices? A damn lot of it.
And make no mistake....
And make no mistake....
16...this one time payment to real workers - money that will accomplish next to nothing - is another "oh, you're stopping us from helping real Americans" fig-leaf. Just like they aways use tax cuts for the rich and argue for "average" tax cuts by making the non-rich believe....
17...they have a real benefit. They don't. As always, GOP is using a pittance for individuals as a selling point, so they can pretend anyone trying to stop or limit the corporate #BriberyBailout is really targeting the working people they're holding hostage. It's disgusting.
fin
fin
