How To (And Not To) Respond: Putting money where empty mouths are


Talk about a hearwarming act of altruism and decency.

The ticket workers, concession staff, custodians and others who are paid hourly at NBA games will lose a lot of income during the shutdown.  The NBA players voluntarily (and NBA team owners after being shamed into it) have agreed to cover the lost income of workers at their arenas.  For a league that generates billions of dollars in annual revenue, this is a drop in the bucket, but will make a big difference to thousands of people.


Compare that with Cheetolini’s inept decision to pump a US$1.5 trillion giveaway to businesses on the stock market.  It was eaten up and disappeared in 30 minutes.  No explanation has been given for how this will be paid for except by continuing to cut off food stamps to 700,000 people . . . until a judge blocked the move because of COVID-19.

As some have noted, $1,500,000,000,000 works out to US$4200 per person in the US.  For working people, a $4000 cheque would have been enough to keep them going while the entire country shut down for one to four months.  If those earning over US$200,000 per year (8% of americans) were excluded, the 300 million remaining would have cost $1.2 trillion and kept the economy going, recouped lated by taxes and the multiplier effect.  Instead the money was thrown into a bottomless pit, never to be seen again.

What does it take to prove to people how incompetent Cheetolini is?  That so-called “wealth gain” on the stock market since 2016 (only for the rich) has completely gone.

Addendum:

Ottawa is planning a stimulus package for Canadians, but it is small businesses and individuals who will receive it.

In 2008, Taiwan issued coupons that could be spent as cash, with a limited time period to redeem them.  I expect the same might happen again if necessary.

 

Comments

  1. jrkrideau says

    I admire the players who do this. They deserve a huge amount of praise.

    I spit on the plutocrat owners who make that necessary.

    Dammed if I know if Trudeau’s program will help but he seems like the only rich kid (Brébeuf for god’s sake!) who ever understood, even slightly, the consequences of poverty so I have some hope.

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