Sunday, March 22, 2020

Stimulus for who?

One check for $1,200 is what the Republicans in the Senate are proposing.  Except that if you're among the poorest Americans, you won't get that much.  If you had paid little or no income tax and had at least $2,500 in "qualifying" income, you'd get only $600.  However, if your earnings (still not clearly defined) are up to $75,000 as a single person, you'd get the full $1,200.

Meanwhile these same Republicans want to put aside a slush fund of $500 billion to aid businesses.

Here's a thought.  Let's apply the same concept to these bailout loans as are being applied to the one-time payments to individual taxpayers (both single and those who file jointly).

Corporations whose net profits are above, oh say, $1 billion annually can qualify for loans of no more than $50 million.  If people earning $75,000 are getting a one-time payment equal to 1.6% of their earnings, why not limit the loans to corporations to 2% of their net profits?

Oh, I'm referring to publicly traded companies.  Privately-held businesses should receive no assistance without disclosing their last three years of tax returns and audited financial statements.

If means testing is good for individuals, it is also good for corporations.  Anyone who disagrees, who believes in corporate personhood needs to explain why corporations should get special treatment.

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