It is a corporate coup
Listen to what Dayen says about how the corporations can come out way ahead while many small businesses go under.
Unemployment hits 3 million and people are having a difficult time filing a claim. And how long until people even get the bill since every claim has to be verified by employers? The article says that the UE agencies are understaffed because it has been lower in recent years.
Retail stores have been laying off thousands upon thousand of workers the last few years and after they have been loading up their companies with debt, but now they will get a bailout. Companies have been buying their stocks back for two years, but now they have their hands out with hardly any strings attached nor no means testing to see if they even need the money right now. Decades of misdeeds being wiped out with congress coming through for them again. Swell huh?
Workers can seek unemployment benefits from their home state immediately after losing their jobs. But it typically takes two to three weeks before they receive any money, because state agencies first have to contact their former employers to verify their work history and then calculate the amount of their weekly benefits based on their previous wages.
People should expect “that first benefit payments will take much longer than 21 days,” California's Legislative Analyst's Office warned earlier this week.
Small businesses still owe rent on their spaces even thought they have no income. Why didn't congress address this part?
“This is about the survival of small business in Utah and across the nation,” he said. “We’re empty. In the last two weeks, our business is down at least 85% and business is going to be down 100%. The scenario is playing out in hundreds of thousands of small businesses in Utah and nationwide.”
Matt Stoller Zach Carter has been calling this a corporate coup for over a week Here is what he says about this:
Hey the stock market has gone up since companies learned that congress will come through for them. Yay for those who can take advantage of buying the dip while mom, dad and the kids saw their money wiped out. Just like what happened a decade ago.
Yes Bernie stood up for unemployment benefits, but I am disappointed that he did not hold out for more help to workers. Some billions for them while corporations will see upwards of $4 TRILLION and maybe as high as $16 Trillion? For corporations that have been deliberately screwing up.
Kyrstal asks AOC to stop this: Hmm? Trashy dumpster fire bill!
Saagar speaks for me:
It is 2008 all over again. The banks and the companies are going to make out like bandits whilst we the 99% take it in the shorts.
3.3 Million new unemployment claims just this week. What will next week bring? And when things get worse will congress go back and do another bailout for we the people instead of the corporations? They better or they will see another Occupy Wall Street, but this time we will be joined by people from the other side. Will Trump stand in front of our pitchforks? Hell no. He will use the military. They will bring guns to our pitchfork fight.
Listen to these video and see how royally we are being screwed by congress who is do the bidding of their