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Mar 25 - Democrats Are Handing Donald Trump The Keys To The Country


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 2 weeks ago '06        #1
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RAZAH CUTS  topics gone triple plat - Number 1 spot x39
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Mar 25 - Democrats Are Handing Donald Trump The Keys To The Country
 

 
The Senate coronavirus bill is shocking.

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The emergency coronavirus legislation that the Senate agreed to on Tuesday can only be described as an outrage. It is not an economic rescue package, but a sentence of unprecedented economic inequality and corporate control over our politics that will resonate for a generation.

It represents a transfer of wealth and power to the super rich from the rest of us, with the support of both political parties ― a damning statement about the condition of American democracy.

Final text of the bill has not been released, but according to a legislative draft, the new law would establish a $4.5 trillion corporate bailout fund overseen by Treasury Secretary Steve Mnuchin, with few substantive constraints. Some outlets are reporting this as a $500 billion fund, but $425 billion of that can be leveraged 10 times over by the Federal Reserve, resulting in a multi-trillion-dollar program.

The bill permits bailed out companies to lay off up to 10% of their workforce over the next six months, with no restrictions thereafter. Mnuchin would have authority to waive any upside for the public in its new investments, and the bill’s restrictions on stock buybacks at bailed-out firms are too temporary to be significant. Bailed out companies could even pay dividends to their shareholders.

Bailout money will flow to the shareholders of large corporations, otherwise known as rich people. The oversight terms that Democrats secured are purely cosmetic, replicating the toothless provisions of the 2008 bank bailout that enabled watchdogs to report abuse but not actually prevent or rectify it.

“If you give vast amounts of public money to a single person with no real accountability, you won’t like what happens next,” Damon Silvers, the deputy chair of the oversight panel for the bank bailout, wrote on Tuesday.

In exchange for this takeover, Democrats got four months of more generous unemployment benefits for the millions who will be laid off and a one-time check of $1,200 per adult, eliminating a Republican restriction that would have limited poor people to just $600 and phasing out payments for six-figure incomes. These are not bad provisions, but they pale in comparison to the handout offered to the rich.

“$1,200 isn’t enough,” the Economic Security Project, a liberal think tank, tweeted on Wednesday. By agreeing to the deal, Senate Democrats in effect accept a horrendous future in exchange for a somewhat less burdensome present.

“It is a panicked and reckless legislative response,” Sarah Miller, executive director of the American Economic Liberties Project, an anti-monopoly advocacy group, said in a statement on Wednesday. It’s one that “will repeat most of the mistakes made in the 2008-2010 bailouts” and “fundamentally transform the American economy,” she added.

There is, in fact, an economic emergency right now — just not for the super rich or massive conglomerates. On Monday, the Federal Reserve announced essentially unlimited support for the banking sector and, for the first time, used its authority to directly finance corporate debt. Large corporations can get money, as Boeing CEO David Calhoun made clear on Tuesday when he said his company would “just look at all the other options, and we’ve got plenty of them,” if Congress were to demand an equity stake in the companies it a*sists. Bailouts will eventually be necessary, but Congress has plenty of time to craft serious programs designed to save industry, not merely people who own stock in industry.

Unnecessary Corporate Welfare

Working people, by contrast, do not have time to wait. The coronavirus layoffs have already begun, and when official numbers begin rolling in on Thursday, they will be shocking. Democrats and Republicans have essentially decided to hold a pittance of relief for the people hit hardest hostage to the most reckless and, at the moment, unnecessary corporate welfare program ever conceived.

Senate Majority Leader Mitch McConnell (R-Ky.) boasted that the package is “a wartime level of investment into our nation.” But nothing about the legislation resembles the way a nation prepares for an ambitious military operation. The legislation provides nothing of substance to address the coronavirus pandemic itself. New York Gov. Andrew Cuomo (D) has already said the package will do next to nothing to a*suage the disaster unfolding in his state. It mobilizes no new resources, organizes no production, improves no medical supply delivery and trains no new nurses. Instead, it moves an enormous amount of money around and puts the Trump administration in charge of its movement.

The dissonance between the actions of Senate Democrats today and those from just a few short months ago is mortifying. In December, House Democrats voted to impeach President Donald Trump for withholding congressionally mandated aid to a national ally, arguing persuasively that Trump’s actions were designed to undermine his political rival for the presidency, Joe Biden. Democrats literally tried to remove Trump from office for abusing the public purse for personal political gain. On Wednesday, Senate Minority Leader Chuck Schumer (D-N.Y.) and every Senate Democrat were preparing to authorize more than $4 trillion for Trump’s top lieutenants to pass around.

For too long, Democrats have ignored the suffering and dysfunction caused by structural problems with the American economy, trusting that social welfare payments will be sufficient to counter the power disparity between the rich and the rest of us. They are wrong to accept such a bargain now.

We live in an era in which the wealthy and the well-connected dominate almost every aspect of our society. The rich not only live different lives than the rest of us ― they live significantly longer lives, a trend that is likely to be exacerbated as the medical system cracks under the pressure of the incoming coronavirus caseloads and as working people lose access to basic care.

A Warning From 2008
The financial crisis of 2008 and the bank bailouts it inspired did long-term damage to the American social fabric. The financial sector essentially became a criminal syndicate, as fraud settlements became a simple cost of doing business for bailed-out banks like Wells Fargo. The government’s unheard-of largesse for wealthy bankers made an infuriating contrast with the unemployment lines and foreclosure signs that became commonplace across the country, and our politics were transformed as a result.

The campaigns of both Donald Trump and Sen. Bernie Sanders (I-Vt.) largely grew out of the anger and resentment that the bank bailouts and the outrageous inequality of both the crash and the recovery inspired.

We are about to replay this nightmare with a more frightening cast of demons. The small business relief the Senate has agreed to authorize on Wednesday will be too little to stem the tide of failures, and will arrive too late to help too many firms that will go under, while the biggest companies in America feast on the fruits of the bailout.

“We will be lucky if most small businesses see any a*sistance in less than two months,” law professors Adam Levitin and Satyam Khanna wrote in a New York Times op-ed on Tuesday. “That is time they — and their employees — do not have.” As with the bank bailouts, big companies will grow larger and more profitable and demand further control over the way what we still call a democracy is organized.

But these horrors will only be realized if the House of Representatives approves this monstrosity. The House voted down the first bank bailout bill in 2008. It could do so again, and demand instead a simple relief bill for people who really need it ― working families ― and emergency measures to actually f*ght the coronavirus pandemic.

Democrats control the House. They can pass any bill they like and dare Senate Republicans and the president to oppose a serious bill for a serious problem.

Or they can rubber-stamp the Senate bill and help Donald Trump foreclose on the next generation of American democracy.



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63 comments
 

 2 weeks ago '17        #2
Ymmot  topics gone triple plat - Number 1 spot x2
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 RAZAH CUTS said
The bill permits bailed out companies to lay off up to 10% of their workforce over the next six months, with no restrictions thereafter. Mnuchin would have authority to waive any upside for the public in its new investments, and the bill’s restrictions on stock buybacks at bailed-out firms are too temporary to be significant. Bailed out companies could even pay dividends to their shareholders.
These are the people republican voters worship and idolize. They love being slaves, now I understand what Kanye was really saying.
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 2 weeks ago '16        #3
Boogersugar  topics gone triple plat - Number 1 spot x1
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 Ymmot said
These are the people republican voters worship and idolize. They love being slaves, now I understand what Kanye was really saying.
Kanye loves being a slave his damn self

Hopefully they can weave more oversight into future revisions, but this does sound a lot weaker than it seemed. The House is taking all of Thursday to read the bill and it may be stuff like this that AOC is pissed enough to potentially call for an in-person vote for.
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 2 weeks ago '18        #4
BernieDaGoat  topics gone triple plat - Number 1 spot x7
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Cats acted like the Dems had a huge win with the bill. Im still wondering where they got that narrative from. Although there are some good things namely the death of libertarianism, I never want to hear about "pulling yourself up by your boot straps, not needing handouts etc again."
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 2 weeks ago '16        #5
Boogersugar  topics gone triple plat - Number 1 spot x1
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 BernieDaGoat said
Cats acted like the Dems had a huge win with the bill. Im still wondering where they got that narrative from. Although there are some good things namely the death of libertarianism, I never want to hear about "pulling yourself up by your boot straps, not needing handouts etc again."
lol these CEOs will be back at the trough in weeks. The market is being fed irrational optimism that everyone is going back to work soon but that bubble is going to pop soon. So there's going to be another bad day for the market ahead. Maybe a couple. And what do you think these fat cats are going to say then?

I just hope the Dems were serious in insisting that they would f*ght harder for fairer provisions in subsequent bills. There was a lot of pressure to do everything ASAP this time around but the next bill shouldn't be so rushed.

 2 weeks ago '17        #6
Ymmot  topics gone triple plat - Number 1 spot x2
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 Boogersugar said
Kanye loves being a slave his damn self

Hopefully they can weave more oversight into future revisions, but this does sound a lot weaker than it seemed. The House is taking all of Thursday to read the bill and it may be stuff like this that AOC is pissed enough to potentially call for an in-person vote for.
Kanye is an idiot. I met him once back in the day, he had a session at the studio I was working at and I caught him the lobby. Even back then (2006-07 ish) he was mad self-absorbed. He had underage interns working for him that he didn't have to pay. Every other major artist had real managers and a*sistants and Kanye had 3 teenagers doing everything for him, no pay.


A couple of my friends were going out to his sunday church things. They invited me, but I never really had any interest. But the funny thing is that they said the maga thing was all an act. One of my friends said people were talking tons of sh*t about trump and Kanye was laughing and joking with them.
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 2 weeks ago '17        #7
Ymmot  topics gone triple plat - Number 1 spot x2
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 BernieDaGoat said
Cats acted like the Dems had a huge win with the bill. Im still wondering where they got that narrative from. Although there are some good things namely the death of libertarianism, I never want to hear about "pulling yourself up by your boot straps, not needing handouts etc again."
Nancy got some good things in there like full unemployment for independent contractors. That's good for a lot of people who wouldn't otherwise get much. But yeah, overall the Republicans were gonna fu*k the working class over as much as possible.
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 2 weeks ago '12        #8
44wade  topics gone triple plat - Number 1 spot x4
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fu*king A.

So let me get this straight, Trump and the republicans robbing America is












someone else's fault?
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 2 weeks ago '17        #9
Ymmot  topics gone triple plat - Number 1 spot x2
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 Boogersugar said
lol these CEOs will be back at the trough in weeks. The market is being fed irrational optimism that everyone is going back to work soon but that bubble is going to pop soon. So there's going to be another bad day for the market ahead. Maybe a couple. And what do you think these fat cats are going to say then?

I just hope the Dems were serious in insisting that they would f*ght harder for fairer provisions in subsequent bills. There was a lot of pressure to do everything ASAP this time around but the next bill shouldn't be so rushed.
The market is gonna stay up as long as trump is in office. He's paying wall street too much money not to keep propping the market up. The funny thing is trump accidentally admitted the market was just propped up at his press briefing on Saturday or Sunday. He straight up said the market was being propped up by stock buybacks, dude admitted the stock market wasn't as strong as it seemed.
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 2 weeks ago '16        #10
Boogersugar  topics gone triple plat - Number 1 spot x1
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 Ymmot said
The market is gonna stay up as long as trump is in office. He's paying wall street too much money not to keep propping the market up. The funny thing is trump accidentally admitted the market was just propped up at his press briefing on Saturday or Sunday. He straight up said the market was being propped up by stock buybacks, dude admitted the stock market wasn't as strong as it seemed.
It won't work. You aren't going to be able to do anything to account for the Q1 and Q2 earnings reports we're going to see. You can sell Tesla for xbillion times earnings but you can't do that for every company. There are going to be slides ahead based on that no matter how you try and juice the numbers.

 2 weeks ago '09        #11
TriniSoldier 
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he already had it. n*ggas didn't care about a mortage freeze, debt freeze, etc. they shoulda put the republicans over a barrel and really put the working class citizens and small businesses on a pedestal. there was zero need to try and put everything into a thousand page bill, take care of the citizens in one bill then do all that corporate bailout in another
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 2 weeks ago '09        #12
TriniSoldier 
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 44wade said
fu*king A.

So let me get this straight, Trump and the republicans robbing America is



someone else's fault?
umm.. yes.



everybody with a brain especially on the east coast knew what he was. but y'all white cubans and southerners got up under his ballsack like he was gonna give a fu*k about anybody without 10 milly in the bank account
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 2 weeks ago '16        #13
foshoVoodoo  topics gone triple plat - Number 1 spot x4
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keep voting

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 2 weeks ago '17        #14
Ymmot  topics gone triple plat - Number 1 spot x2
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 Boogersugar said
It won't work. You aren't going to be able to do anything to account for the Q1 and Q2 earnings reports we're going to see. You can sell Tesla for xbillion times earnings but you can't do that for every company. There are going to be slides ahead based on that no matter how you try and juice the numbers.
He was telling states to hide their unemployment claims. This guy does not give a fu*k about rules or morals. He been giving wall street so much money...
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Top 10 most slapped recently  2 weeks ago '19        #15
Big Tymerz  topics gone triple plat - Number 1 spot x26
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Libs gotta stop bi*ching and vote Trump out in November
ibs
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 2 weeks ago '17        #16
Ymmot  topics gone triple plat - Number 1 spot x2
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 TriniSoldier said
umm.. yes.



everybody with a brain especially on the east coast knew what he was. but y'all white cubans and southerners got up under his ballsack like he was gonna give a fu*k about anybody without 10 milly in the bank account
No doubt, anyone with any street smarts could see trump is a two bit hustler. You run into people like donald trump all the time in the streets in a east coast city. Only difference is trump is a rich white man who can takes full advantage of that privilege. Trump tricked the sh*t out of all them (mostly white) country folk and over-trusting suburbanites though.
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 2 weeks ago '12        #17
44wade  topics gone triple plat - Number 1 spot x4
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 TriniSoldier said
umm.. yes.



everybody with a brain especially on the east coast knew what he was. but y'all white cubans and southerners got up under his ballsack like he was gonna give a fu*k about anybody without 10 milly in the bank account
false.

enough dumb people believe the Clintons have a crime family and have people murdered.

Enough dumb people cant recognize how unprecedented that a DNC server was hacked, a DNC only one, and leaked to the public to perpetuate more conspiracy theories about the Clintons.

Then the FBI willingly ended sh*t when they announced an investigation days before election.

Enough dumb people thought taking a knee was a good way to protest, therefore sending regular people slightly right because it was being sold as being more patriotic.

somewhere down the line was what you said, but much bigger factors up the line.
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 2 weeks ago '16        #18
Boogersugar  topics gone triple plat - Number 1 spot x1
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 Ymmot said
He was telling states to hide their unemployment claims. This guy does not give a fu*k about rules or morals. He been giving wall street so much money...
Public companies have to issue earnings reports. Trump can't do anything to cover for that. Like right now I'm holding Darden which has jumped like 70% over the last week or so... based on what? People aren't going to be sitting down at Red Lobster in 2 weeks. Their earnings are fu*ked in Q1 and will be worse in Q2. When investors understand how bad the reality is, you'll see a big reaction. Some of this rally is sturdy but some of it will evaporate when people aren't back at work in 10 days.
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 2 weeks ago '12        #19
44wade  topics gone triple plat - Number 1 spot x4
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 Boogersugar said
Public companies have to issue earnings reports. Trump can't do anything to cover for that. Like right now I'm holding Darden which has jumped like 70% over the last week or so... based on what? People aren't going to be sitting down at Red Lobster in 2 weeks. Their earnings are fu*ked in Q1 and will be worse in Q2. When investors understand how bad the reality is, you'll see a big reaction. Some of this rally is sturdy but some of it will evaporate when people aren't back at work in 10 days.
damn someone i follow posted a darden chart today. its either you i follow or its going around.

 2 weeks ago '09        #20
TriniSoldier 
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 Boogersugar said
Public companies have to issue earnings reports. Trump can't do anything to cover for that. Like right now I'm holding Darden which has jumped like 70% over the last week or so... based on what? People aren't going to be sitting down at Red Lobster in 2 weeks. Their earnings are fu*ked in Q1 and will be worse in Q2. When investors understand how bad the reality is, you'll see a big reaction. Some of this rally is sturdy but some of it will evaporate when people aren't back at work in 10 days.
Darden hasn't had red lobster for years

They gonna bounce back in about 8 months tho
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 2 weeks ago '16        #21
Aztlan  topics gone triple plat - Number 1 spot x1
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 TriniSoldier said
he already had it. n*ggas didn't care about a mortage freeze, debt freeze, etc. they shoulda put the republicans over a barrel and really put the working class citizens and small businesses on a pedestal. there was zero need to try and put everything into a thousand page bill, take care of the citizens in one bill then do all that corporate bailout in another
Seriously. Its a crime against this country that Congress can't pass a clean bill to save their lives or ours.

They're gonna pass worker relief when everybody has already been evicted
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 2 weeks ago '16        #22
Boogersugar  topics gone triple plat - Number 1 spot x1
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 TriniSoldier said
Darden hasn't had red lobster for years

They gonna bounce back in about 8 months tho
lol I don't eat that sh*t any damn way. Too many good restaurants in Austin for me to be eating anywhere I could also hit up in Nebraska and Alaska and either Carolina etc etc etc



Last edited by Boogersugar; 03-25-2020 at 11:43 PM..

 2 weeks ago '20        #23
Abso 
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All this bickering and ain’t none of y’all holding the paraplegic and inept senate republicans accountable



Bu bu bu ok...


Y’all wit fake outrage and then ones who can’t see the forest through the trees.
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 2 weeks ago '12        #24
44wade  topics gone triple plat - Number 1 spot x4
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 Aztlan said
Seriously. Its a crime against this country that Congress can't pass a clean bill to save their lives or ours.

They're gonna pass worker relief when everybody has already been evicted
what k*lls me is why it all had to be tied together.

Like it was impossible to vote on one without the other.

Then we would have seen the real crooks when they separated them.

Makes no sense why regular people relief is on same bill as corporate relief.

Other than politics. Its provides cover for both parties.
+7   

 2 weeks ago '18        #25
BernieDaGoat  topics gone triple plat - Number 1 spot x7
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 Ymmot said
Nancy got some good things in there like full unemployment for independent contractors. That's good for a lot of people who wouldn't otherwise get much. But yeah, overall the Republicans were gonna fu*k the working class over as much as possible.
agreed. Its not all bad but I think more will be needed lets see if they come up with more after this

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