Meet Joe Biden’s $1.9 Trillion ‘American Rescue Plan’
Joe Biden's opening stimulus salvo will carry a $1.9 trillion price tag.
Early reports put it at $2 trillion, so I suppose that's close enough.
Biden was set to unveil the plan just hours after the latest read on jobless claims showed nearly 1 million Americans filed for unemployment benefits last week, the most since August. The jump from the previous week was the largest since March.
Read more: Disaster Strikes As Jobless Claims Suddenly Surge To Almost 1 Million
While the Georgia runoffs
Many companies, small and large, will have enough NOLs from 2020 that they won’t be troubled by corporate income taxes for some years to come.
This would be a good time to bypass the punitive and inefficient state unemployment systems and institute a federal system, or at least set federal standards that the states need to meet. I actually agree in principle with Mitch in saying that it would be better to help the people who need the help, rather than fling $2000 checks to everybody. But our system is (deliberately) unable to carry out this sort of targeted relief, apparently. As for getting rid of the lower minimum wage for restaurant staff, this can’t happen soon enough. In fact, go further, get rid of the entire culture of “tips” that permeates America. Pay people what they deserve for the work they do.
Can we finally dispense with listening to the false claims originated in the John Birch society and actually remember that government has and does help people?