Another Half Trillion of Free Money for Business

serf

Our illustrious congress has given another $484 billion dollars for stimulus bailout for small Business, so we can get

 back on track to paying taxes and getting the jobs back into the economy which is another boondoggle giveaway! After all the drinking of the spiked punch bowl during a major election year here in 2020  then by 2021 in the fall the big hangover will be coming with an inflationary cycle of despair for the value of the dollar dropping like a rock! Just watch.Right now it's deflationary with oil and other commodities but real service and goods is not going down too much before it starts to increase dramatically in 2021.

                                          serf

 https://www.cnbc.com/2020/04/21/large-public-companies-are-taking-small-businesses-payroll-loans.html

  “I think you’ve seen some pretty shameful acts by some large companies to take advantage of the system,” said Howard Schultz, former Starbucks chairman and CEO. Instead, the government should act “as a backstop for the banks to give every small business and every independent restaurant a bridge to the vaccine. And that is the money and the resources to make it through.

chiefr

On the subject of debt, people need to take a look at history, from the Greeks thru the Romans and particularly after wars. Both victors and losers.  

serf

chiefr said:

On the subject of debt, people need to take a look at history, from the Greeks thru the Romans and particularly after wars. Both victors and losers.  

  They had real money back then,not this fiat digital stuff with derivatives,future trading and casino bets stacked upon stacks.

                                                                        serf

charliemeyer007

Just what we need more free money.  They keep it up, that $1200 will buy a roll of toilet paper - but 1200 ones is like 3 rolls or toilet paper.  Gubernment.  Audit the Feral Reserve.  Print new money "Blue Backs" interest free not reserve notes.  Let china choke on the notes.

spasmcreeksrun

let's see now....the poor do not pay taxes...the rich do not pay taxes....the illegals get freebies and refunds.....now to us....the shrinking middle class...yep we gotta pay it ALL back....so wife and hubby better get a second or third job and forget about the lake this summer for several years......but maybe you will get invited over to pelosi's for ice cream and pork

SW0320

serf said:

Our illustrious congress has given another $484 billion dollars for stimulus bailout for small Business, so we can get

 back on track to paying taxes and getting the jobs back into the economy which is another boondoggle giveaway! After all the drinking of the spiked punch bowl during a major election year here in 2020  then by 2021 in the fall the big hangover will be coming with an inflationary cycle of despair for the value of the dollar dropping like a rock! Just watch.Right now it's deflationary with oil and other commodities but real service and goods is not going down too much before it starts to increase dramatically in 2021.

                                          serf

 https://www.cnbc.com/2020/04/21/large-public-companies-are-taking-small-businesses-payroll-loans.html

  “I think you’ve seen some pretty shameful acts by some large companies to take advantage of the system,” said Howard Schultz, former Starbucks chairman and CEO. Instead, the government should act “as a backstop for the banks to give every small business and every independent restaurant a bridge to the vaccine. And that is the money and the resources to make it through.

Do you run a small business that has been shut down by the govt. without any recourse?  I would expect not or otherwise you would know what the “real” small businesses are going through.

serf

 They are just trying to save their tax base and small business is mostly service jobs and gives someone with a little savy tax breaks and have the taxes hidden from the real profits. While a blue collar worker gets taxed on all their wages. Giving millons out to save a business from a natural event (maybe)should be covered by insurance. Not Taxpayers. Let them fold and the strong will survive.Bailing out everybody and everything is going to cause hyper inflation for all. just watch.

                                                                          serf

     To avoid this disadvantage, an LLC can make a Subchapter “S” Election by applying for an EIN on Form SS-4 and filing a Form 2553 within 75 days after the date of formation or beginning of a tax year. (Note: only U.S. citizens and U.S. permanent residents can make this election). After deducting reasonable compensation and other business expenses, the LLC’s taxable income is then reported by the member(s) as passive income, rather than earned income subject to Social Security and Medicare contributions. After making the “S” election, the LLC would need to file a Form 1120S Corporation Income Tax Return each year.

Furthermore, if the business does not conduct its operations in Delaware, the state’s corporate income tax may not apply. Instead of paying that income tax, those Delaware corporations instead pay a much lower franchise tax. Delaware also has business-friendly usury laws, which allow banks and credit card companies to have much more freedom to charge higher interest rates on loans.

SW0320

serf said:

 They are just trying to save their tax base and small business is mostly service jobs and gives someone with a little savy tax breaks and have the taxes hidden from the real profits. While a blue collar worker gets taxed on all their wages. Giving millons out to save a business from a natural event (maybe)should be covered by insurance. Not Taxpayers. Let them fold and the strong will survive.Bailing out everybody and everything is going to cause hyper inflation for all. just watch.

                                                                          serf

     To avoid this disadvantage, an LLC can make a Subchapter “S” Election by applying for an EIN on Form SS-4 and filing a Form 2553 within 75 days after the date of formation or beginning of a tax year. (Note: only U.S. citizens and U.S. permanent residents can make this election). After deducting reasonable compensation and other business expenses, the LLC’s taxable income is then reported by the member(s) as passive income, rather than earned income subject to Social Security and Medicare contributions. After making the “S” election, the LLC would need to file a Form 1120S Corporation Income Tax Return each year.

Furthermore, if the business does not conduct its operations in Delaware, the state’s corporate income tax may not apply. Instead of paying that income tax, those Delaware corporations instead pay a much lower franchise tax. Delaware also has business-friendly usury laws, which allow banks and credit card companies to have much more freedom to charge higher interest rates on loans.

Now you have proven that you do not know why you are talking about and are just a troll.

serf

 I know the more organized who have the most lobbyist get their way up in Congress along with any other authority that collect Taxes,It's a proven fact there are two kinds of capitalism here in America, one is bought and the other is earned. I am no troll.

                               serf

          Ayn Rand explains that there are two types of capitalists in America and only one reveres the free market.

                 https://www.youtube.com/watch?v=hK18v2Vn8Ug

SW0320

You have no idea what it is like to be self employed and have no work, no money because the Govt took it all away by closing down you business, no appeal nothing for us.  What do you do for a living?  I bet you are some Govt employee who does no real work and can troll there sites.

serf

 Nope I not a government worker but was a contractor employee who was in bed with the government once but they had to fire me for telling the truth to a government inspector.That is not allowed.

      What did business do during the 1918 Flu epidemic?They had no bailouts yet we /they  survived. Today everybody wants a handout from the government.I suggest you should sue the communist government in China for your loses and be glad your are not old and in a nursing home like a sitting duck waiting to be infected and die.

                                                 serf

SW0320

So now you live in your basement trolling websites.  Get a job and stop being a troll.

serf

SW0320 said:

So now you live in your basement trolling websites.  Get a job and stop being a troll.

  You are just mad because you need a bailout and other than calling me a troll as a rebuttal you have nothing to say that can prove to us the tax payer's we should have to pay for you to stay in business other than rhetoric .But don't worry they will try and fail,just watch. All they are doing is rearranging the chairs on the deck of the Titanic as it goes down. All the good jobs are gone for a long time under the new paradigm coming.

                                      serf

             https://www.cnn.com/2020/04/03/perspectives/us-economy-predictions-coronavirus/index.html

           While growth may eventually return during the fall and create a positive fourth quarter, we estimate that unemployment would remain high and could still be 15% by year's end. The economy would shrink by 6% in 2020, which would mark the largest decline since 1946, when the economy dropped by almost 12% due to the demobilization from World War II and the sharp pullback in military production. Even then, our economy eventually transitioned back to a period of peace and prosperity

                                             

spasmcreeksrun

i sold some ground and stuffed the money in CD's at a local bank....now the rates are low  but that is close and handy to me if i need any of it.....never tried the online banks which had a higher rate .....should last as long as i will...