As the nation waits with baited breath to see if Congress will continue in its money giveaways, lost in the discussion is the fate of Social Security and the U.S. Treasury.
When the U.S. Supreme Court ruled in Helvering v Davis, 301 U.S. 619 (1937), that Social Security was a tax which could be exercised by the U.S. Congress to spend for the general welfare (if it chose), the concept of this equates to an entitlement; one with no guarantee for its investors. Few paid close attention to such implications.
The trillions of money paid out by the U.S. government now approaches 3 trillion dollars versus Federal Reserve notes of $1.93 million currently in circulation.
One of the things that should be discussed is that we have allocated more money for this pandemic than we have gold in the U.S. federal reserve.
America needs to step back and look at how we are paying the bills; especially as we face a collapsing economy. People who have lost jobs due to the coronavirus have already been given a Pandemic Allowance of an additional $600 per week. This amount put many above the amount(s) they were previously receiving via their unemployment checks.
The one-time $1200 stimulus payouts were a nice gift for many, but — they left out too many citizens and are insufficient to provide satisfying relief for the longterm.
The unemployment component might be done in decreasing amounts, let's say $600 in week 1; $500 week for 2 — and so on.
This payout structure wopuld give them $2100 while those getting a stimulus check could get $2000.
Receiving personal pandemic payments for lost jobs, disadvantages Social Security recipients. Their cost of living marches on without the same extra stimulus bonus.
Those with disabilities who have sheltered in place are making extraordinarily burdensome payments.
Many small businesses, particularly minority owned ones, will go broke by exclusion from the government relief, or because their establishments have burned to the ground at the very hands of rioters who erroneously profess their love for them.
The proposed HEAL Act misses several important points:
—Food supplements/SNAP needs to be continued. If schools open on a limited basis or even if they don’t, the kids still also need to eat on off days.
—There needs to be a supplement for Social Security as done for the unemployed which many in their ranks are. Do not cut social security, for 52% of women depend on it for retirement.
People need to understand that we are now in the "funny-money" zone. Yet, while this is not Monopoly, the money is counterfeit if not backed by gold or we are spending the Social Security reserves.
—Healthcare has become a bad joke for insurance is not going to cover the costs of this. Some type of catastrophic strategic initiative needs to be instituted so that people with and without insurance don't go bankrupt trying to cover themselves for in-hospital services.
The bills beyond health insurance resource allocations should be considered for dissolution by the government. This will truly help people HEAL.
First responders, teachers and those critical industries should have their workers covered.
First responders should be given such liability immunity as well as postal workers.
There should be a Part F for Medicare to cover those persons, as well as allow for coverage for those who get homecare, rehab, and other services.
—Personal Pandemic Loans should not be available to those making more than $10 million in profits, religious institutions not providing services to the public without restrictions, and to no government officials at any level.
—It's not clear whether rent deferment or prevention of such evictions means this debt is covered for many may be faced with a bill which comes due for those unpaid monies.
Just as a deduction is available to homeowners, why not a 10% tax credit for those who rent?
—Liability immunity is too haphazard and offered without criteria to vaccine makers. People should be liable for delivering untested products with unproven efficacy.
—A Green New Deal should be a promise of clean drinking water in every house, green spaces as part of building codes and biodegradability which all the excess use of plastics in this age of coronavirus requires.
—The Tax Code needs change so that companies making billions in profits must pay at least 20% of that in taxes rather than pay none, as in the case of Amazon.
The communications monopolies need to be broken up (Facebook, Microsoft, Google, and Amazon) as was reportedly done to oil companies years ago.
Capitalism and democracy does not mean there is a free lunch for anyone or any business.
The U.S. Constitution does not guarantee benefits for citizens other than the right to vote, security, and assistance with commerce.
Ada M. Fisher, MD, MPH is a former Medical Director in a Fortune 500 company, licensed teacher, retired physician, former county school board member, speaker, author of Common Sense Conservative Prescriptions Good for What Ails Us Book 1 (available through Amazon. Com) and is the NC Republican National Committeewoman. Read Dr. Ada M. Fisher's Reports — More Here.
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