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But doesn’t really do any good from an economic impact standpoint
How so? Assuming the savings are not stuffed in a mattress the miracle of fractional reserve banking will do two key things A. some of it will hit the street in terms of salary for bank workers and loans. B. The balance will become bank reserves. All of that is critical form a economic perspective.
And as someone else noted nearly all of this money would be spent.
So, explain to me in real small words, how a payroll tax cut will help anyone who is not working, and how much help it will be for someone making a very low wage.
It's another orange monkey gift to the corporations and the high waged.
The man represents the distillation of the GOP and is unable to think of anything outside its tiny ideological box. Maslow's Hammer in action at the largest possible scale.
You seem very bitter. How about stepping into the sunshine for a moment by turning your blind partisanship off.
How so? Assuming the savings are not stuffed in a mattress the miracle of fractional reserve banking will do two key things A. some of it will hit the street in terms of salary for bank workers and loans. B. The balance will become bank reserves. All of that is critical form a economic perspective.
And as someone else noted nearly all of this money would be spent.
Real economic impact is from spending not saving it either in cash at a bank or in a mutual fund/etf or the like. The fractional reserve system only becomes a multiplier if the banks continue to lend so if credit tightens which is normal in a downturn you aren’t getting the multiplier you’d expect. Again it’s spending that most quickly fuels the economy so just giving money directly to lower/no income folks working or not would immediately put money back into the economy
Trumps so called plan of cutting taxes while maintaining or increasing levels of government spending is completely financially reckless.
But that's assuming the drunken sailors in government care about debts and deficits.
What's the big deal? We already beyond worrying about deficits and debt ceiling. It's just another needle we move on the gridiron for the Feds.
It's not business as usual for a good part of the country, a lot of people will be unemployed or unpaid for atleast 1-3 months and we know many Americans live paycheck to paycheck. If they don't start giving hand outs soon. There will be bad things to come.
It will help one of my kids. She has some projects that were cancelled. The other one gets to work from home in pajamas, she’s been bragging about it. She’s even has view of the Bay.
Why are lefty racists allowed to pollute the board so much?
Imagine if someone said the Black ape.....
Yup. When Obama extended unemployment to 99 weeks for anyone that made $1300 in a quarter in CA and then got laid off people cheered in the streets. They also cheered when he cut payroll taxes from 6.2 to 4.2%. He was saving the economy.
Trump does something similar, and he's a racist monkey that only wants to give tax cuts to the rich (when FICA is paid by most all W2 workers) and destroy SS and increase the national debt.
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