Sen. Elizabeth Warren (D-MA) put a list of suggestions on Twitter. Stuff like maintaining payrolls and prohibiting stock buybacks. Obviously these ideas didn’t actually originate with her, or with any one person in particular, but this is a convenient presentation.
I would add, make companies bring back the money they have stashed in tax-evading overseas accounts, and pay their taxes on it, and then go through that, before they get a dime of bailout. Another thing I’d do, is use the criminal code to liquidate the scorched-earth vulture capital firms, and put those ill-gotten assets back into the economy.
The chances of much of this happening, especially my added notions, are not great to say the least. But of course it’s worth aiming for, in whatever ways.
What ever is finalized, the result will be more deficit spending ... so why did the Trump Administration allow people 90 days after filing their taxes on April 15th to make payments ? Do they think that the economy will recover in August ? (Ya still gotta file by 4/15, but you don't have to pay for another 90 days ... thus, I presume that you could just file an extension for filing and still take the 90 days).
ReplyDeleteAnother thing that bugs me is that the Medical Device Excise Tax was repealed ... in the past, companies had to pay on any products imported into America ... now they don't ... so if a company wants to close a plant with higher paid workers/benefits in the US, they can simply make these devices overseas and ship them in.