The current version of the Federal assistance to American airlines contemplates the government taking stakes—in the form of warrants convertible to (voting) common stock—in return for sending money to the airlines to help tide them over the disruptions resulting from the current Wuhan Virus situation. There are a number of objections to such a condition, most of them valid. Flight attendant unions have their own objection. They’ve
urged federal officials not to make grants to airlines contingent on government stakes, saying they believe executives would refuse—costing jobs in an industry hard hit by the coronavirus pandemic.
The Wall Street Journal‘s editors are stewing about the Wuhan Virus relief bill that just passed the Senate. To an extent, the WSJ is justified in its concern; $2 trillion isn’t chump change (the editorial was written before the Senate voted the bill up, so details at the link might differ from Senate-passed reality). Couple things about the paper’s concern, though.
The bill includes $250 billion for $1,200 payments to Americans whether or not they’re affected by the virus. The cash will do little or nothing to help an economy closed by government fiat.
House Speaker Nancy Pelosi has buried another item in her 1,400+ page demand list of “relief” supports that she is requiring in quid pro quo for her support for the Senate Wuhan Virus relief bill that her minions in the Senate are actively blocking: $35 million for operations and maintenance for New York’s JFK Center for the Performing Arts. Pelosi’s bill would provide funding for
…employee compensation and benefits, grants, contracts, payments for rent or utilities, fees for artists or performers….
We’re seeing their execution of Rahm Emanuel’s theory in spades these days. The Republican-majority Senate has a proposal in the Senate, agreed in bipartisan fashion with Progressive-Democrat Senators that would aid average Americans and the small, medium, and large businesses—including our farmers and ranchers—weather the government-mandated shutdown of our economy in response to the present Wuhan Virus situation.
The bill would provide loans to businesses to help tide them over the current loss of revenue—many of the loans converted to grants if the businesses retain their employees on the payrolls.
Senate Republicans have a bill in the works that would provide aid to businesses and their employees who are at risk as a result of government-mandated business reduction to minimum production or to outright closure. That plan would provide for
taxpayers to receive up to $1,200, with married couples eligible to receive as much as $2,400 with an additional $500 for every child. Those payments will scale down for individuals who make more than $75,000 and couples that make more than $150,000. Individuals who make more than $99,000 and households that earn more than $198,000 won’t be eligible for direct assistance.
New York City Mayor Bill de Blasio is arguing that the best way to tackle the coronavirus outbreak is for the federal government to take over critical private companies in the medical field and have them running 24 hours a day.
“This is a case for a nationalization, literally a nationalization, of crucial factories and industries that could produce the medical supplies to prepare this country for what we need,” de Blasio told MSNBC‘s Joy Reid on Saturday, calling for “24/7 shifts” during what he called a “war-like situation.”
This time, the DC Circuit Court has erred. The Trump administration—Health and Human Services—had allowed Arkansas, among other States, to set work requirements on its citizens as prerequisites to eligibility for the State’s Medicaid program. Folks and organizations sued over that, and the case wound up in the DC Circuit Court. That Court held with the suers and has blocked Arkansas from proceeding with the work requirements.
Writing for the Court, Senior Circuit Judge David Sentelle held, in part, that HHS didn’t address the purpose of Medicaid in a way that suited him:
Ex-Chicago Mayor and ex-President Barack Obama Chief of Staff Rahm Emanuel (D) cried out in a Wall Street Journalop-ed earlier this month that Progressive-Democrats are “blowing their chance,” the central theme of which was that the current crop of Progressive-Democrat Presidential candidates seemed to be running against ex-Progressive-Democrat Presidents Bill Clinton and Obama, rather than the current President, Donald Trump.
A Letter to the Editorwriter in Friday’s WSJ took issue with Emanuel’s piece; this part in particular drew my attention.
Donald Trump is on the edge of doing more for black Americans than Mr Emanuel’s party has done for decades. He’s leaving them alone, giving them jobs, showing them respect.
An economist says Apple isn’t paying its fair share of taxes. There is many things about which to criticize Apple, but this isn’t one of them.
Davos lights insist that companies are responsible to and for their employees, their suppliers, and their communities. Indeed. And the way to execute that responsibility is to be responsible first to companies’ owners. That’s what helps companies thrive so they can have, and have more, employees and suppliers—which money rotation funds those local communities.
What is Apple’s “fair share?” This economist declined to say—just that it ought to pay more.