Hopefully the market will realize it has over-reacted to this thing soon.
It's possible that we could literally talk ourselves into a recession, and we're certainly trying.
What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.
.
Notice the timing of this.
Democraps need a recession.....so they use the media to create one.....just like they did in 2008.
Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.
Like a promise of more tax cuts
Golfing Gator:
What is a payroll tax cut? Is that a benefit to employers or workers?
I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.
While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack
It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.
I ask again: What is a payroll tax cut? Do I have more $$ in my paycheck or are employers relieved of some of their tax obligations?
The last time it was done it was only for the employee. Your contributions to SS and Medicare and the like are cut by a percent and you get a bit more money in your check. Is it enough money to make a difference in your life? The last cut, in 2011 I think, was 2 percentage points. I do not know how much money you make, but if you make say $100,000 then your check would be about 80 dollars more each 2 weeks.
Like a promise of more tax cuts
Golfing Gator:
What is a payroll tax cut? Is that a benefit to employers or workers?
I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.
While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack
It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.
He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.
If you are going without a pay check then the payroll tax cut would not help you a bit
true dat
and if I had to get all mixed up with DHHS to get paid for downtime, fuggetaboutit. I would hope that would be money reimbursed to employers so they could give those of us without sick time a check.
Lets talk economics!
Here is the deal-------------> follow me here------------->remember when Obama made all those shovel ready jobs supposedly? Why did he do it? BECAUSE we NEEDED jobs! Forget about if his effort worked or not, but his approach was logical.
Trump does not need to do that.
Why?
Because today, we have an OVER abundance of jobs! He needs to keep Americans with enough money in their pockets, so when this threat lifts, and it will; Americans have enough cash on hand to prime the economic pump themselves.
CONSIDER----------->they are highly suggesting that this virus will lose a lot of steam in the late spring and summer months. Even with a partial slowdown, people are going to have jobs because people are going to be off because of illness, so the employment cuts in everything but the service sector will be minimal. Yes economic activity will falter, but so will production, meaning an almost neutral stance economically.
So now, the threat passes, what happens if the citizens have no money? Yeah, not good! If demand builds, but you have no money to satisfy demand, then you really have a problem, don't you!
So while I agree with Gator on how much money you are going to get from any payroll cut, the idea is to not allow demand to rise, with no expendable cash to satisfy the demand at least somewhat, reigniting the economy.
Again---->we do NOT need an influx of more jobs! We need the ability to fill our demands when the crisis passes, and to do that, we need as much cash on hand as possible as consumers.
P.S. Anyone have a mortgage? You owe money in student loans, etc? REFINANCE it quickly!
This is the same as a TAX CUT for you! Don't be dumb! Get more money in your pocket for now, and the future. Take advantage of a bad situation, and make something good happen for yourself.
And if Mac reads this P.S. I am sure he will agree!
