Should politicians have taken more time to get the stimulus bill right?

As was suggested in a different thread - everyone out of work should have gotten $600 a month. Everyone still working is…well…still working and didn’t need the money.

Now it turns out that universities with 40 billion dollar endowments are getting tons of our tax money, too.

If the pols had taken just a couple more days to get this thing done right the first time, a lot of money might not have been sent out - or going to be sent out - to people who didn’t need it.

Or the banks would not be seeing multi million dollar deposits as I have seen reported

Everyone would agree it could be more efficient.

The challenge is that there is a trade-off between perfection and timeliness, with timeliness corresponding with confidence.

This will be one where it‘ll be something that is looked back on and debated and hopefully learned from.

Tabletopping crises and executing continuity of operations plans is something that happens regularly in federal government (there’s formal government-wide exercise once a year that simulates disaster!).

Tabletopping stimulus is something that should perhaps happen in the future as well, where we plan during normal times how to respond to abnormal. Have the fights that should happen when we’re not under the gun, so next time, we aren’t building from scratch, but rather refining from existing approaches.

No, they should not have. Quick and drastic action was needed and for ■■■■■■■ once in the last twenty years Congress actually did it.

I agree…but for individuals and small businesses. This may be a different subject that borders along with the Kennedy Center?

And the Republicans snuck some giant tax break for millionaires into it among a bunch of other ■■■■■■■■■ Getting it done right and getting it done fast are opposing concepts in politics. You have to balance one against the other.

Can you post a link?

https://www.foxbusiness.com/money/tax-change-in-coronavirus-stimulus-package-overwhelmingly-benefits-millionaires

No universities should have gotten any money.

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First…thank you.

What Tommy said was, a “tax break for millionaires”. What you’re posting is totally different. The SBA potential forgiveness loan was for business owners, who employ less than 500 employees. Take your monthly payroll, multiply it times 2.5 and that will be the amount of the loan. If…someone employs that many people, then logically they make in excess of a million dollars per year? There’s nothing wrong with that but a tax break…I’d like to read the details before I make up my mind.

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A change in the tax code that favors any given tax payer is a tax break for that tax payer. The stimulus gives millionaires a huge tax break

I made a million dollars last year and I’ve not seen a change in the tax code. Now…post a link please?

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:man_facepalming:

More than 80 percent of the benefits of a tax change included in the coronavirus stimulus package that President Trump signed into law at the end of March will go toward Americans who earn more than $1 million annually, according to a nonpartisan congressional committee.

I see you just modified your post. I will receive in excess of a half million dollars to pay employees but as far as tax implications, I’ve seen no adjustment nor has my accountant informed me of any changes.

That’s true…but it didn’t go into my pocket. It MUST go into the employees pocket…to be forgiven.

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You’ve posted a distorted truth and the headline is without question…misleading but you keep modifying it?

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What I bolded is wrong

The provision, placed into the legislation by Senate Republicans, temporarily suspends a limitation of how much certain business owners can deduct against their nonbusiness income to reduce their tax liability

I don’t understand?

Your reduced tax liability ends up in your pocket, not in your employee’s.

The provision, placed into the legislation by Senate Republicans, temporarily suspends a limitation of how much certain business owners can deduct against their nonbusiness income to reduce their tax liabilit

Then understand this…I don’t want the money? I would rather things be as they were! The business generates much more revenue than what the government is offering? It generates that profit that made me a million dollars last year. All they are doing is allowing a business owner the potential, of breaking even. I am already being penalized by this virus. The government is helping my employees…and me…but not charging me for their contribution…since the revenue the business has historically generated, far exceeds their contribution…if…I’m understanding you correctly?

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