Kudlow just said that eliminating the payroll tax will be made up for with bigger economic growth.
Like drunken moths to a flame.
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
Id love to see the math. The equation that computes the fact that its more efficient for the markets to cut taxes than it is to get virus testing and procedures kicked into high gear yesterday. When this things hits its exponential potential? You aint got that kind of tax cuts... it will have all been for nothing.I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
Payroll cuts don't do shit for people that are laid off, out sick with no PTO, or unable to work due to travel restrictions or conditions caused by this event.
Kudlow just said that eliminating the payroll tax will be made up for with bigger economic growth.
Like drunken moths to a flame.
The problem is, the Democrats nailed it with their reasoning not to agree with pay roll tax cuts. Which basically was: how can pay roll tax cuts help those that have had their hours cut, lost their jobs already., or can't work because they are quarantined/sick. If you are not working, or not working your normal full time hours, the payroll tax cut does nothing. Not to mention that the payroll tax cuts they are referring to are Social Security and Medicare from articles I am reading. Which he would try to keep those cuts forever , as he has been trying to cut those as it is.He's going to blame the Democrats if the market keeps dropping and they don't pass the stimulus or takes too long. He's going to take credit if they pass the stimulus and the market goes up. In his small mind, he wins either way and Democrats and the Fed takes the blame for any failure. All he cares about is himself and his reelection.
At the moment I have a hard time agreeing. Fundamentally things aren’t bad. The big driver in 08 was the credit markets drying up and for now there’s no sign of that but it’s worth keeping an eye on. I’d hold off on panic selling for now.The conversations I'm having at work these days indicate a situation somewhere between the 08/09 crisis and the aftermath of a limited nuclear attack.
Absent some huge break the real economy is poised to hurtle into the abyss.
At the moment I have a hard time agreeing. Fundamentally things aren’t bad. The big driver in 08 was the credit markets drying up and for now there’s no sign of that but it’s worth keeping an eye on. I’d hold off on panic selling for now.
In case there is any doubt that Trump views this as a political crisis (for him) not a health crisis:
The conversations I'm having at work these days indicate a situation somewhere between the 08/09 crisis and the aftermath of a limited nuclear attack.
Absent some huge break the real economy is poised to hurtle into the abyss.
Congress has nothing to do with bullying the FED into lowering rates.Not trying to be a stickler but you seem to have accidentally forgot to also credit his fiscal conservative friends in Congress. He barks, they listen but still deserve credit where it is due.
Plus dead people as a bonus. Maybe lots of dead people.
No, just being dishonest with yourself. That tax funds the Social Security benefits that tens of millions of American depend on, and that 'temporary reduction' is nothing more than a political ploy in an election year.I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
Congress has nothing to do with bullying the FED into lowering rates.
No, just being dishonest with yourself. That tax funds the Social Security benefits that tens of millions of American depend on, and that 'temporary reduction' is nothing more than a political ploy in an election year.
If you think about it, the people who expect and benefit from government, but are unwilling to pay for it, are bigger socialists than those who are willing to pay for it.
Can't wait to hear that Mitch is stalling it because why the fuck not. I'm sure Trump will then EO raiding the SS piggybank for something asinine, like another bailout for airlines or some dumb shit.Grassley essentially has killed the payroll tax cut idea. Mitch hanging back.
Democrats in the House poised to pass their own package of relief (sick leave, expanded unemployment insurance, food security, etc) this week.
the Dow has officially crossed into a bear market.
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.