Ever notice how forgiving loans is suddenly a big problem when students get much-needed relief, but nobody blinks an eye when billionaires get their PPP loans forgiven? Or when corporations are handed billions in subsidies?
@rbreich I hear this a lot, but PPP was created for loan forgiveness from the beginning, if you followed the rules and paid employees with the money. The alternative would have been even bigger layoffs. It's not the same thing.
A better example is bailouts of the banks in 2008. Not only did Bush/Obama bail them out, but they refused to put conditions on the bailouts, like equity stakes or requirement for the bank leaders to resign.
No, I don't notice that, because plenty of people do a great deal more than blink an eye. A lot of people object, rightly, to all sorts of subsidies for the rich. If you're not seeing or hearing it, well....
@rbreich
I really feel for the youngsters today with big school debt. I went to school so long ago (the 60s), that just by working in the summer, doing a little work for the school while attending, and a small amount of help from my Dad with his lower middle class income, I graduated debt free.
@rbreich
Too many folks resent a young person who studies philosophy or music on their dime. Inexplicably, billionaires don’t piss these dunderheads off .
@rbreich I agree with the sentiment and I'd like to get your opinion. Which would be a more effective economic stimulus, the present student loan forgiveness or something like lowering the threshold for medical expenses on income tax to 0.00 for a year? Or perhaps some credit towards paid medical debt in addition to the standard deduction? I think medical debt is more universal for acceptance as student debt is more likely to be perceived as voluntary debt. Thoughts?
@rbreich I noticed. Ever notice whenever the news reports on a big fine a company has to pay, they never say what % of their annual revenue the fine represents?
@rbreich
Actually, no. People blink eyelids a lot. They complain, and there are articles written. It could just be my media landscape but I see a fuss kicked up. Even though the fuss isn't made by every outlet, it exists.
I sure don't see anything change, but that's because the people in charge are a different group.
@rbreich The Canadian description was Corporate Welfare Bums. In 1972, David Lewis, leader of the federal NDP, invoked the term “corporate welfare bums” to describe big businesses that demanded—and received—millions of dollars in government subsidies on the taxpayer’s dime. 🧐
@rbreich or how they blamed inflation on the child tax credit but completely ignored PPP like we didn’t just inject billions of dollars into the economy.
@rbreich Who says slavery is over? Who thinks the plantation model is outdated? Call it what you want and I will not oblige to think it is something else. #NFL The .01% need no justice for workers. Yet they sure want to control the narrative at all times.