According to NBC News, the White House is indeed considering additional economic relief plans to help boost the economy. This might come primarily through a further Tax Day deadline, from the current July 15th to September 15th or even down to December 15th as a possibility. This comes on the heels of a Department of Labor report of new unemployment numbers of 3.2 million. There are companion headlines out there as well that some employers are struggling to actually bring employees back from unemployment, with some making more money on unemployment then at their previous jobs.
Can we just call for a “do over” of 2020, if we haven’t already? I’m certainly no Milton Friedman or a renowned economist, but I don’t honestly think you’re going to find any real accurate predictions about how this economy is going shake out by year’s end. Like many of you, I watch the news shows and see the headlines on the web. Some pundits and “experts” are saying the economy will bounce back within weeks or months of fully reopening, while others say it could take up to a decade or more to recover. If you’re anything like me, you grow tired of click bait and Monday quarterback predictions and analysis.
It reminds me of the old football scenario that we see play out every fall. If coach goes for it on forth down and makes it, he’s a genius. If the line gets stuffed and they lose the game, its #firecoach! That’s how I view this whole debacle, or whatever it is as the consequence of the COVID19 problem that is upon us.
I don’t care who it is in the White House, however they try to manage and get the country through an issue like this (one we really haven’t seen before), there’s going to be good and bad. There will be fumbles, missteps, triumphs, headaches, victories and failures. There’s just no way around that reality. Just think back to the Bush years and the Hurricane Katrina detractors and promoters of his response. President Obama had a fair share of disasters as well with plenty of praise and criticism.
I think my point is that we just have to be patient with all of this as it comes. Of course that doesn’t mean officials and authorities shouldn’t be questioned or praised, it just means we’re dealing with humans, who like us have all kinds of things going on. We can only pray they have good motives or will obtain convictions to accomplish what will be for the good of our country. One can only hope, right? Remember, our government was intentionally designed to bottleneck when it comes to power and legislation.
In the mean time, can I suggest we go to a Flat Tax or Fair Tax in the interim? I can wish, right?