Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
Hey BP,
Congress is thinking about passing another stimulus check for the American people. There are two proposals, one outlines 2000/month for each individual and the other stops rent and mortgage cancellation for 1 year on primary residents. Landlords are receiving an emergency fund in lieu of the CoronaVirus effects. What does everyone think about this new proposal?
Rental Property Investor · Newport Beach, CA · Member since 2017 · 218 posts · 138 votes
6y
@Nick Rutkowski Pretty sure this is just a couple representatives looking to get credit for trying to give out free money, for when they need to run for reelection. No way would it really be considered in Congress.
@Account Closed that's not the point the really working poor may still be working and its disheartening to them to watch the non-working buddies make more then them. The more you incentivize not working the less people will go to work until that incentive is gone. So you move people from working poor to non-working people with alot of time on their hands. What does that do to recovery? Because in your plan if I read it right, it is unemployment + current $600 extra a week plus 30 % of your prior income?
As for Banks and corporations, we talk about them as separate from people and jobs. They aren't. Failing businesses mean failing economies. And the economy on a national level will likely eventually reach the economy in your house. Not all business aid is bad aid but I agree some has been.
All individual aid isn't bad either but they really should think these things out a little more. If you look at this bill eligibility is " regardless of income or payment level " How about a cap like they should have done for unemployment. The HUD addition to affordable housing isn't even really understandable so complex and administration intensive. Another way to grown government.
I just mean its simpler and more effective to get cash to people in times of emergency. And corporations are not people no matter what the courts say in their terrible decision (Citizens United and others). Corporations are controlled by a small number of people. You are so afraid of big government when actually what controls your life are big corporations. Your health is in the hands of the insurance and hospital companies. Your income is in the hands of a company. Your money is in the hands of big companies (banks, brokerages etc). Every industry is monopolizing. For example you pay more for worse service for data and telecom anywhere in the world. All these are corrupting the government to act in their interests over the people. Even the latest stimulus is full of billions in handouts and tax breaks to those who need it the least (the super rich class). So whenever I see people getting upset at the small inefficiencies in giving money to people (i.e welfare fraud etc) while ignoring trillions in corruption and fraud at the highest levels, I think we are falling for the distractions that the corrupt people in power want us to believe. Government per se is not your enemy. And small government is not the answer. Honest government that acts in the interest of the people is.