COVID-19 Stimulus

[Dill]

(03-28-2020, 07:18 AM)Belsnickel Wrote: 2. The whole premise of the cash infusion to corporations is based on supply-side economics, or what people often term as Reaganomics or trickle-down theory. The idea being that if there is a cash infusion at the top it will make its way to the bottom. The fault in this thinking, though, is that we haven't seen that born out in the 40+ years we've been trying it. The rich have gotten richer and the poor have remained poor. So the idea in a situation like this to push the cash to corporations is that they use it to continue to pay workers and produce goods and services. But what if they don't? What oversight is in place to see they do with their money what they should do to help the economy? Well, there are now certain stipulations attached to the money at the insistence of the Democrats, but honestly they aren't much at all. If I read correctly, it's only a couple of months that they can't lay off workers. The IG is going to be toothless which means the oversight is a joke.

So while the general language is "bailing out corporations is bad," the more specific message is that we should be putting the money on the demand side of things, the workers, and letting them boost the economy with their spending power. If they have money to spend then they can keep corporations afloat. If they are laid off and facing economic hardships of their own, then the corporations are existing to do what, exactly? With people incapable of purchasing goods and services then what is the function of a corporation other than to just exist?

Many excellent points in this post, especially the bolded. 

We cannot just hand these guys money again with no accountability. I want to see that money going to workers and families--the ones who REALLY make and distribute all those good things like cars and Chinaphones.

To make their profits, corporations depend on their workers and us, the consumer, as well as the government.

I'd like to see all those CEOs and managers make their own cars and farm their own food.