it only take $521k for salary or about 10M net worth to be in the top 1% in the US. Not exactly a drop in the bucket for all those in the 1%

 

You say only like it's water off a duck's back, but only 1% of this country are at that point.... It's no small feat. Personally, I'm 'only' in the top 2-3% for my age for both net worth and income.... I guess I'm slacking.

 

Now is actually a good time to be short sighted and not big picture.

Being on reserve especially as a commuter isn’t sitting around. Further those not on reserve are working everyday and if those below them weren’t on reserve they would be and they would be sitting around “doing nothing”. Pre Covid all airlines had reserves and many “did nothing” as you incorrectly describe.

Further, in your lifetime tell me how the national debt increasing has affected your life in any way for the worse? And while it’s the highest it’s ever been it’s not the highest it’s ever been as a percentage of GDP. We aren’t Greece. We actually can spend our way out of this.

I’m not advocating for an endless welfare state because if you never get back to producing then servicing the debt does become a problem, but spending big for a short term crisis actually makes perfect sense. As long as GDP grows faster than the debt over time it literally never has to be paid back in its entirety. Old pieces get paid off as new pieces get added. This can go on forever as long as GDP over time grows at a faster rate than the debt. 2020 is a point on chart and while this year the debt will grow and GDP will contract it’s only a small point in history. You obviously cannot do it forever but history shows that not spending enough now will cost more on revenues later than you save today.

Your life and finances have a finite horizon. The United States does not. Stop thinking about it like your household budget.

 

Actually our GDP to debt ratio isn’t that great. By a long shot.
136.6%

 

Thanks for looking that up on Wikipedia. Not sure where I would get that wealth of information without you Boy Scout.
I just don’t want my grandchildren’s children and their children paying for it. Maybe with Covid, there will be a baby bump and increase GDP 30 years from now.

 

again, a point in time. You obviously cannot deficit spend and cut taxes forever. But not spending a lot on Covid relief (short term big problem) will cost the country much more in revenues down line than it would save now by not spending it. Crisis stimulus isn’t like social security of welfare. It’s a short term solution for a short term problem.

 

not off wiki btw, but it’s misinformation that the national debt is a big scary thing and a valid reason to not spend stimulus money on a crisis when it’s very much needed. Also the airlines as a whole got less than $50 billion of a multi trillion dollar package. Keeping the airlines solvent and held together for now is worth the relative small dollars. Why? Because it’s an investment that will pay back more in future tax revenues and law makers know it but unfortunately their kitchen table economist constituents don’t.

edit:
and if for no other reason, if you are a pilot think of all the money you’ve paid in taxes in years past. Look at this as getting some of it back. If you’re too senior to be furloughed or downgraded look at as in investment in your job security (stability of the company). And if the feds won’t grant the airlines the money who do you think they will look to for the grant. at the very least an investment in your relative seniority that will slide back if your brothers are let go.

 

I’m not saying it’s nothing, just stating you don’t have to be a billionaire to be in that group. I got my violin ready if you need it though.

 

Just razzing you. I agree with most of what you are saying. I think that’s what’s sustaining the market right now. Peeps are still spending on non essential goods and services. The $600 extra in unemployment as well as the stimulus have many feeling rich. It’s helping drive the economy and keep it from taking a nose dive.
I just don’t agree with another stimulus that has so much pork that is non Covid.

 

...And Shumer decided to do nothing. There, you were missing part of the sentence. You can't have far left radical wants and propose that as "a deal," then tell their Republican counterparts they need to come to the center. It was a disingenuous comment plain and simple, partisan hack politics, and yes-I blame both sides. But to put this solely on McConnell is wrong too. Remember 49-51 is not negotiations.