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$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American

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$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American $2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American

$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American

On Wednesday, U.S. Congressional leaders had seemingly come up with a stimulus deal at around 1 a.m. EST. The package will cost upwards of $2 trillion and politicians are promising direct payments of $1,200 per American if they make $75,000 or less. The dollar injection will be the largest financial measure ever enacted by Congress in an effort to boost the faltering U.S. economy during one of its most challenging periods in history.
Also read: US Real Estate in Jeopardy – Analysts Predict Housing Market Crash to 29-Year Lows
US Lawmakers Promise $1,200 Payments to Citizens
During the last week, the U.S. has been dealing with the coronavirus outbreak and the effects on the American economy. Since the virus touched American soil, politicians have been enacting executive orders like closing borders, shutting down major U.S. industries, and ordering regular citizens to stay at home. The bureaucracy’s measures have stunted the American economy and sent shockwaves through the stock market, the real estate industry, and pushed unemployment levels through the roof. Meanwhile, for a few days now, Republicans and Democrats have hashed out a stimulus plan to help businesses and citizens deal with the financial hardships they have been facing. During the early morning hours of March 25, White House legislative affairs director Eric Ueland told the media “We have a deal.”
At 1 a.m. EST members of Congress supposedly penned a stimulus package that will cost around $2 trillion USD. U.S. politicians have promised American citizens a cut of that money and Wall Street will get some funds as well. Small- and medium-sized American businesses can expect their stimulus in the form of Federal loans of around $300 billion. One part of the stimulus plan includes sending money to individuals and families with an adjusted gross income of $75K or less. People within this income bracket are being promised $1,200 checks based on their 2018 income tax filings. People with children will be eligible for $500 per child and singles without children who make $99K will be ineligible. Couples without children who have an adjusted gross income of $198,000 or more will also be removed from the stimulus plan.
On Tuesday, March 24, the Dow Jones Industrial Average was up 6.46% or 1,201.54, to 19,793 and the S&P 500 Index was up 5.77%, or 129.10, to 2,366.50. The Nasdaq Composite Index was up 5.38%, or 368.91, to 7,229.58 on Tuesday as well. On Wednesday, futures and the opening bell numbers indicate today’s gains are flat and the Nasdaq Composite Index is down at press time.
Meanwhile, a large sum of the cash injections will be sent to bolster the airline industry and Wall Street in order to get corporations on their feet again. Financial incumbents will get “unlimited bond-buying” and three separate credit facilities from the Fed. The Fed has already been pumping trillions into the hands of private banks but the stimulus package for small- an...
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$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American $2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American

Fuente de la noticia: news-bitcoin
Fecha de publicación: 25-03-2020 21:16
visto: 0

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