We need relief for workers, not a slush fund for Wall Street

#putpeoplefirst: Relief For Workers, Not A Slush Fund For Wall Street

“We need a Democratic Party that stands up to Mitch McConnell’s farcical plan by fighting for pragmatic solutions as big as the crisis working people face”

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Berkshire Hathaway Warren BuffettWarren Buffett has never detailed the process he uses to value the businesses he acquires for Berkshire Hathaway. However, over the years, he has provided some limited insight into his methods. Q3 2020 hedge fund letters, conferences and more Based on these comments, it is widely assumed that Buffett uses a discount cash flow model Read More


A Stimulus Package That Helps People, Not A Slush Fund For Wall Street

In response to latest congressional negotiations over the stimulus package, Justice Democrats executive director Alexandra Rojas released the following statement:

“We need a stimulus package that puts people first, not a slush fund for Wall Street and the world’s wealthiest corporations. By passing their own bill, Democrats can show that they are prepared to lead this country and provide immediate relief to the American people while Republicans hold our nation hostage to the corporations they serve.”

“We need a Democratic Party that stands up to Mitch McConnell’s farcical plan by fighting for pragmatic solutions as big as the crisis working people face. That means a bill that includes immediate cash assistance of at least $2,000 a month, expanded paid leave, free health care for those affected by the crisis, and an immediate moratorium on evictions and mortgage, rent, and debt payments.”

Slush fund for Wall Street?

“Any money given to large corporations should come with stringent conditions to ensure that relief is going directly to employees. That means no stock buybacks and no executive bonuses or pay raises. Governments around the world have already committed to cover paid sick days and salaries for workers if businesses commit to not lay their employees off.”

“While everyone is focused on necessary steps to provide immediate relief and mobilizing the production of necessary supplies, we know the number of Americans who have already filed for unemployment benefits is the highest it’s been in nearly three decades and is projected to reach over two million this week. Passing bills to cut a few temporary checks one-at-a-time won’t be enough.”

“After this pandemic is under control, we will need a much bigger stimulus package unseen since the New Deal era that puts millions of Americans back to work to take on our second biggest global crisis: climate change. This pandemic has already demonstrated to the entire nation that the funds are available to tackle the biggest crises of our time.”

Polling On Stimulus:

Latest polls show that more than 70 percent of voters - including “very conservative” voters - want a much stronger stimulus package offering emergency cash payments, waiving copays for coronavirus treatment and increasing federal funding for Medicaid, and remain skeptical of policies that prop up large corporations affected by the crisis.

Voters are quite supportive of the federal government taking steps to help save small businesses with 45 percent strongly supporting $50 billion in low interest loans from the Small Business Administration. However, they are significantly less likely to support providing loan guarantees for big industries such as airlines and hotels, with only 33 percent in strong support. The idea with the least support of any issue is the Trump administration’s proposal to provide low-interest government loans to oil and gas companies.