Yo dog, what really be in this multi-trillion buck stimulus?
Mar 28, 2020 7:21:25 GMT -8
Origanalist likes this
Post by helmuthhubener on Mar 28, 2020 7:21:25 GMT -8
I wanted to know.
No news or commentary outlets appeared willing to divulge this information.
So, I found the actual bill and downloaded it. You may get it, too:
www.republicanleader.senate.gov/imo/media/doc/CARES%20Act%20Final%20-%20Mar%202020.pdf
Skimmed through it (come on, I'm not that masochistic. I'm not gonna read every word) enough to determine: Where dat money at?
Here's the deal:
$299.4 billion allocated for loans through the Small Business Administration
$208 billion allocated for loans through the Small Business Administration (wait, wat? lol)
Breakdown of these loans:
DISTRIBUTION OF LOANS AND LOAN GUARANTEES
5 —Loans and loan guarantees made pursuant to sub
6 section (a) shall be made available to eligible business as
7 follows:
8 (1) Not more than $50,000,000,000 shall be
9 available for passenger air carriers.
10 (2) Not more than $8,000,000,000 shall be
11 available for cargo air carriers.
12 (3) Not more than $150,000,000,000 shall be
13 available for other eligible businesses.
So, like, dem flyboy billionaires be gettin theirs, dat fo dang shur.
150 + 50 + 8 = 208, so the breakdown adds up to the smaller of the totals listed earlier.
Then the other big expenditure:
$1,200 per adult
$500 per child
This payment is only to go to actual taxpayers, paying actual taxes. Behold:
7 ‘‘(2) TAXPAYER DESCRIBED.—A taxpayer is de
8 scribed in this paragraph if the taxpayer—
9 ‘‘(A) has qualifying income of at least
10 $2,500, or
11 ‘‘(B) has—
12 ‘‘(i) net income tax liability which is
13 greater than zero, and
14 ‘‘(ii) gross income which is greater
15 than the basic standard deduction.
Ha! So all dem hoes in da hood ain't gettin JACK! Booyah. Your humble reporter gives thumbs up to this limitation, at least.
Note that this is just a single one-time payment, for all of 2020, and not a recurring monthly payment. The White House invitation to Andrew Yang may have led to some confusion on this point.
The Senators leave it up in the air how much this will total out to, but your crack reporter finds Reference.com telling us that there are 138.3 million taxpayers in the US, out of 245.3 million adults. 138.3/245.3 = 0.5638, and multiply that by 74.2 million children and you get 41.8 million children in taxpaying homes (defs way less fo reals, because only niggers, sand niggers, spics, and gooks be poppin out chitlins dees days. Ain't nobody else got time fo dat racket.) Then there's 15.5% of households with more than $150,000 annual income, and the payments start to taper down at that level ($75,000 for singles), by five cents per dollar over, so that it zeros out at $24,000 over ($99,000/174,000). With this information one could calculate out precisely how many households will be excluded at the top end and how many are in the taper zone, but this seems like it would be a disproportionate allocation of labor, and so it would have to be a different one than this one to do that. We can say that well over 10% of the top end will be excluded, thus, let us call it 10%. This subtracts 13.83 million adults and 4.18 million children. So:
149.36 billion for adult payments ($1,200 * 124.47)
18.81 billion for kid payments ($500 * 37.62)
Finally:
1.3 billion for awards for companies that do something coronavirus-related that the gov decides they think is super dope.
19 $1,320,000,000 for fiscal year 2020 for
20 supplemental awards under subsection (d) for the
21 detection of SARS-CoV-2 or the prevention, diag-
22 nosis, and treatment of COVID-19.’’
In conclusion, let us distill our findings:
149.36 billion for direct payments to adult taxpayers
18.81 billion for direct payments to taxpayers with children
The above is the hyped and advertised portion of the bill (understandably! Ka-ching!). It will total less than 168 billion to dole out the money as the bill specifies (recall that we rounded down generously).
$208 billion for loans to businesses. Broken down as:
Then we have:
1.3 billion for fun awards
Scattered millions that I skipped but that don't add up to much.
And finally, most wonderfully:
91.4 billion dollars that disappears!
That comes from 299.4 billion being first allocated to the SBA for loans, and then only 208 billion being actually earmarked for loans. I am no legal expert, but on the face of it, it would appear that the other 91.4 billion dollars can be used a) to make every single bureaucrat in the SBA a millionaire (this will only take a few billion), b) for whatevs, c) Party Time!
It all adds up (299.4 + 168 + 1.3) to:
468.7 billion dollars
This is much less than the $2 trillion dollars that we are told by every one that this bill is going to cost. Much, much less. No comptroller (indeed no literate human) who had read this bill (or, as we've seen, just skimmed it) could possibly come up with such an estimate in any honest way. It raises the fun and captivating question:
Where is the other 1.5 trillion dollars going to go?
None of us can say, and obviously it will simply disappear and we will never be told where it went. However, based on past experience, we can safely surmise where it will go. So, final line item, 75% of the spending:
1,531.3 billion dollars for trillionaire Phoenician/Jews
Now you know!
No news or commentary outlets appeared willing to divulge this information.
So, I found the actual bill and downloaded it. You may get it, too:
www.republicanleader.senate.gov/imo/media/doc/CARES%20Act%20Final%20-%20Mar%202020.pdf
Skimmed through it (come on, I'm not that masochistic. I'm not gonna read every word) enough to determine: Where dat money at?
Here's the deal:
$299.4 billion allocated for loans through the Small Business Administration
$208 billion allocated for loans through the Small Business Administration (wait, wat? lol)
Breakdown of these loans:
DISTRIBUTION OF LOANS AND LOAN GUARANTEES
5 —Loans and loan guarantees made pursuant to sub
6 section (a) shall be made available to eligible business as
7 follows:
8 (1) Not more than $50,000,000,000 shall be
9 available for passenger air carriers.
10 (2) Not more than $8,000,000,000 shall be
11 available for cargo air carriers.
12 (3) Not more than $150,000,000,000 shall be
13 available for other eligible businesses.
So, like, dem flyboy billionaires be gettin theirs, dat fo dang shur.
150 + 50 + 8 = 208, so the breakdown adds up to the smaller of the totals listed earlier.
Then the other big expenditure:
$1,200 per adult
$500 per child
This payment is only to go to actual taxpayers, paying actual taxes. Behold:
7 ‘‘(2) TAXPAYER DESCRIBED.—A taxpayer is de
8 scribed in this paragraph if the taxpayer—
9 ‘‘(A) has qualifying income of at least
10 $2,500, or
11 ‘‘(B) has—
12 ‘‘(i) net income tax liability which is
13 greater than zero, and
14 ‘‘(ii) gross income which is greater
15 than the basic standard deduction.
Ha! So all dem hoes in da hood ain't gettin JACK! Booyah. Your humble reporter gives thumbs up to this limitation, at least.
Note that this is just a single one-time payment, for all of 2020, and not a recurring monthly payment. The White House invitation to Andrew Yang may have led to some confusion on this point.
The Senators leave it up in the air how much this will total out to, but your crack reporter finds Reference.com telling us that there are 138.3 million taxpayers in the US, out of 245.3 million adults. 138.3/245.3 = 0.5638, and multiply that by 74.2 million children and you get 41.8 million children in taxpaying homes (defs way less fo reals, because only niggers, sand niggers, spics, and gooks be poppin out chitlins dees days. Ain't nobody else got time fo dat racket.) Then there's 15.5% of households with more than $150,000 annual income, and the payments start to taper down at that level ($75,000 for singles), by five cents per dollar over, so that it zeros out at $24,000 over ($99,000/174,000). With this information one could calculate out precisely how many households will be excluded at the top end and how many are in the taper zone, but this seems like it would be a disproportionate allocation of labor, and so it would have to be a different one than this one to do that. We can say that well over 10% of the top end will be excluded, thus, let us call it 10%. This subtracts 13.83 million adults and 4.18 million children. So:
149.36 billion for adult payments ($1,200 * 124.47)
18.81 billion for kid payments ($500 * 37.62)
Finally:
1.3 billion for awards for companies that do something coronavirus-related that the gov decides they think is super dope.
19 $1,320,000,000 for fiscal year 2020 for
20 supplemental awards under subsection (d) for the
21 detection of SARS-CoV-2 or the prevention, diag-
22 nosis, and treatment of COVID-19.’’
In conclusion, let us distill our findings:
149.36 billion for direct payments to adult taxpayers
18.81 billion for direct payments to taxpayers with children
The above is the hyped and advertised portion of the bill (understandably! Ka-ching!). It will total less than 168 billion to dole out the money as the bill specifies (recall that we rounded down generously).
$208 billion for loans to businesses. Broken down as:
- 50 billion for passenger airlines
- 8 billion for cargo airlines
- 150 billion for everybody else
Then we have:
1.3 billion for fun awards
Scattered millions that I skipped but that don't add up to much.
And finally, most wonderfully:
91.4 billion dollars that disappears!
That comes from 299.4 billion being first allocated to the SBA for loans, and then only 208 billion being actually earmarked for loans. I am no legal expert, but on the face of it, it would appear that the other 91.4 billion dollars can be used a) to make every single bureaucrat in the SBA a millionaire (this will only take a few billion), b) for whatevs, c) Party Time!
It all adds up (299.4 + 168 + 1.3) to:
468.7 billion dollars
This is much less than the $2 trillion dollars that we are told by every one that this bill is going to cost. Much, much less. No comptroller (indeed no literate human) who had read this bill (or, as we've seen, just skimmed it) could possibly come up with such an estimate in any honest way. It raises the fun and captivating question:
Where is the other 1.5 trillion dollars going to go?
None of us can say, and obviously it will simply disappear and we will never be told where it went. However, based on past experience, we can safely surmise where it will go. So, final line item, 75% of the spending:
1,531.3 billion dollars for trillionaire Phoenician/Jews
Now you know!
