NEW: The covid recession hit low-wage workers 8x harder than high-wage workers. We've never seen anything like that before.
— Heather Long (@byHeatherLong) September 30, 2020
This is the most unequal recession in modern US history — by far.https://t.co/ECT6E8xLQd w/ the great @andrewvandam & @alyssafowers #jobs #COVID19 pic.twitter.com/DA5BUxqhLT
Category: Economy
Racism has cost the US economy $16 billion since 2000
$16,000,000,000,000.
— NPR (@NPR) September 23, 2020
That's how much the U.S. economy has lost since 2000 because of discrimination against African Americans in areas including education and access to business loans, according to a new Citigroup study.https://t.co/N8179s4cCz
"America could have been $16 trillion richer if not for inequities in education, housing, wages and business investment between Black and White Americans…"
— Adrienne Lawrence (@AdrienneLaw) September 24, 2020
Imagine what we could've done with that wealth. Our GDP in 2018 was $20.5 trillion.https://t.co/YRytCxVuVn
Citigroup has figured out just how much money systemic racism in the United States has cost the country: $16 trillion over the past 20 years. https://t.co/UQnW55KxOj
— Black Enterprise (@blackenterprise) September 24, 2020
A Biden presidency is predicted to mean more jobs
Moody's Analytics forecasts a Biden presidency would mean 7 million more jobs than a 2nd
— Jonathan Chait (@jonathanchait) September 26, 2020
Trump term https://t.co/AB0siR9Yuj
A victory for Joe Biden, a Democratic takeover of the Senate and a defense of the party's House majority in the November elections would be the best outcome for the U.S. economy, according to an analysis by Moody's Analytics. https://t.co/7cBppE080G
— Kyle Griffin (@kylegriffin1) September 26, 2020
GOLDMAN SACHS: "A Biden win, especially in a "blue wave", would likely mean greater fiscal stimulus, more cyclical upside, less trade policy risk, and a weaker USD/stronger EM FX. Earlier vaccine availability would have directionally similar effects, in our view."
— James Pethokoukis (@JimPethokoukis) September 30, 2020
Trump’s Opportunity Zone scam
just another way to help rich people
From @strickdc and @ReporterBlayne Trump says Opportunity Zones have created thousands of jobs, but experts say most investment has been in real estate deals that don't create long-term jobs. https://t.co/cPEeashE2f
— NBC Investigations (@NBCInvestigates) September 12, 2020
“Kushner and his wife, Ivanka Trump, pushed for Opportunity Zone tax breaks to be included in Trump's 2017 tax overhaul. The breaks offer investors big cuts in capital gains taxes”
— Sarah Reese Jones (@PoliticusSarah) March 5, 2020
Value went from $5 m 3yrs ago to $25m
But Hunter Biden nothing. https://t.co/LUENNEUB4h
On the same day Kushner cashes in on the "opportunity zone" scam, Trump touts it as a huge favor for black America https://t.co/ytDDFrf2zD
— Jonathan Chait (@jonathanchait) March 5, 2020
Treasury watchdog probing Trump administration's Opportunity Zone program
— Cameron Lewis (@yoURDATAisyours) September 12, 2020
Entire program is a real estate tax scam for wealthy investors
Trump friends & family (Kushner) have reaped tax benefits.
https://t.co/y7j5jaTq9n via @nbcnews
Shameless LIES!
— Sylvia Cox (Take 2 … ) (@CoxTake) August 30, 2020
This ONLY benefited your greedy family and your rich, greedy corporate cronies.
Opportunity Zone knocks: Kushner-linked firm buys hot real estate under program that is SUPPOSED to be for the poor.
#TrumpFailure #TrumpRiots https://t.co/NGA8WPZUbl
1) Opportunity Zone has been a benefit for wealthy investors like the Kushner Family.https://t.co/c8VghubrnO
— DawnO (@dmol79) September 12, 2020
2)I find no info regarding trump personally donating to Black Colleges. Please cite your source.
3)Biden’s crime bill was 26yrs ago. I’m sure he will make revisions.
Trump’s payroll tax fiasco
Employees will get more money now but less money next year when the tax is recouped. It’s confusing and hard to implement. Making people think they are getting more money is another Trump scam. It also doesn’t help the millions of people who are unemployed. It will severely damage Social Security if the tax cut is permanent.
Trump’s proposal to permanently terminate the payroll tax could defund Social Security and eliminate benefits for senior citizens and people with disabilities in <4 years. That’s not Bernie Sanders talking. That’s what the Social Security Administration recently reported to us.
— Bernie Sanders (@BernieSanders) August 31, 2020
How that payroll tax break will work: IRS says companies have the responsibility to stop collecting some payroll taxes that would normally be due Sept. 1–Dec. 31. Then co’s must collect twice as much from workers’ paychecks early next year. @laurapdavisonhttps://t.co/ZmiIuRRR2a
— Jennifer Jacobs (@JenniferJJacobs) August 28, 2020
Trump’s push to defer payroll taxes could lead to smaller paychecks for workers in early 2021, Treasury signals https://t.co/p0rbzkC1AU
— The Washington Post (@washingtonpost) August 29, 2020
Icymi last week Social Security’s Chief Actuary said trump’s plan to eliminate payroll taxes will deplete the S.S. Trust Fund by 2023, “with no ability to pay benefits thereafter.”
— Bill Pascrell, Jr. 🇺🇸🇺🇦 (@BillPascrell) August 31, 2020
Translation: trump is openly planning to eliminate Social Security. pic.twitter.com/LNKmQ4n4Fu
The payroll tax deferral takes effect Sept. 1. What it really means for your paycheck https://t.co/ZIe68QggYQ
— CNBC (@CNBC) August 31, 2020
Trump hurt the lobster industry but lies and claims he helped it
The lobster industry was not suffering because of Obama. It was suffering because of Trump. https://t.co/hBOqnWgAK7 pic.twitter.com/RlhihLxp5C
— Philip Bump (@pbump) August 26, 2020
Just in case you want a taste of reality with your lobster.
— Ted Corcoran (Red T Raccoon) (@RedTRaccoon) August 26, 2020
Trump’s failed trade war has drowned Maine’s lobster industry.https://t.co/XEOIrPRUze
For those who don't get how funny this is. Lobster is a shellfish and not edible by observant Jews! https://t.co/FaNtmzIMex
— Jill Wine-Banks (@JillWineBanks) August 26, 2020
Fun lobster fact – revenue for the industry has gone down since Trump was in office.
— Lily Adams (@adamslily) August 26, 2020
2016: $540 million
2017: $438 million
2018: $484 million
2019: $485 million#YoureWelcome#TrumpChaos
At night 2 of #RNC2020, a Maine lobster fisher praised President Trump for trade moves. Democrats said troubles facing the industry — including trade hostilities with China that have taken a valuable market away — are the Republican president's fault. https://t.co/OCDjKikpqp
— AP Politics (@AP_Politics) August 26, 2020
Trump is rescuing Maine lobstermen from himself, and blaming Obama https://t.co/hwJ7PY9ZQC
— Ian Millhiser (@imillhiser) August 26, 2020
MORE ON TRUMP PURSUING LOBSTERMEN/WOMEN: Jason Joyce, 8th generation Maine lobsterman, speaking at GOP convention right now. https://t.co/AvslcAGhaQ
— Jake Tapper (@jaketapper) August 26, 2020
Rich people own most of US stocks
Trump brags about the stock market but most people don’t benefit from it. Trump wants to cut taxes on capital gains which would benefit the wealthy.
To repeat:
— Carl Quintanilla (@carlquintanilla) August 24, 2020
The top 10% of earners own 87% of all U.S. stocks. https://t.co/JizWy97mho
Your reminder that the richest 1 percent own half of the stock market, and the richest 10 percent own almost all (92 percent) of it.
— Robert Reich (@RBReich) August 24, 2020
So when Trump brags about the stock market, he's not talking about the economy that 90 percent of Americans inhabit.
One really encouraging thing about the past few days is that nobody seems to care about the stock market hitting new highs. Good judgment! The stock market is not the economy. Still, is there a puzzle here? Less than you might imagine 1/
— Paul Krugman (@paulkrugman) August 19, 2020
1) Almost half of Americans don’t own stocks
— Andrew Weinstein (@Weinsteinlaw) August 11, 2020
2) 10% of Americans own 86% of all stocks
3) The stock market is not the economy
4) The deficit is exploding
5) 1 in 6 Americans can’t find work
6) 84 days until we beat you https://t.co/8yM2JNAa1l
Deere sales are down 25%. Yet it's making a $2.25 billion profit this year by doing mass job cuts.
— Dan Price (@DanPriceSeattle) August 24, 2020
Companies everywhere are doing this, which is how the stock market booms amid lower revenues.
Remember which companies valued profits over humanshttps://t.co/vP1tlQfGC5
Coal isn’t coming back
Trump is lying as usual.
Trump: "The miners are back to work now."
— Eli Stokols (@EliStokols) August 20, 2020
Reality: coal production capacity dropped last year to its lowest point since 1976.
Source: https://t.co/fUEzebwPgv
A broken Trump promise you probably won’t hear about from Biden (unless he veers off script)
— Jonathan Martin (@jmartNYT) August 10, 2020
coal production in 2016 was 728.4 million tons. Last year it was 705.3 million tons.
Coal has not come back under Trump. https://t.co/qXl6olc9zU
As coal has grown more expensive relative to natural gas and, more recently, renewables, utilities have begun shifting away from it. But coal companies don’t want to accept defeat. https://t.co/aHLonKqADL
— The New Republic (@newrepublic) July 27, 2020
"Coal has no place in Covid-19 recovery plans."
— CNN (@CNN) July 9, 2020
UN Secretary-General Antonio Guterres has urged countries to stop financing the coal industry, to deliver a sustainable future following the pandemic. https://t.co/leuAR5g0bH
Larimer County coal-fired power plant will close 16 years early as Colorado speeds move toward renewable energy https://t.co/1W3lfZ9dyP via @laurenirwin88
— Jesse Aaron Paul ☀ (@JesseAPaul) June 17, 2020
Opinion: Trump pledged to bring back coal.
— The Washington Post (@washingtonpost) June 13, 2020
Like everything under him, it collapsed instead. https://t.co/YIp6Dgk2Eg
Mass evictions could be coming
In more than half the country, local courts are reopening and beginning to process a backlog of eviction cases, sparking what economists and housing advocates say could be a historic surge in homelessness as millions of Americans lose their homes https://t.co/9F84BTy0IB
— The Washington Post (@washingtonpost) July 6, 2020
32% of U.S. households missed their July housing payments. (via @CNBCMakeIt) https://t.co/v3LLqDpNLy
— CNBC (@CNBC) July 9, 2020
And Trump says everything is improving… https://t.co/vxYg6pSlW4
— Don Winslow (@donwinslow) July 8, 2020
“The United States is facing an eviction crisis of biblical proportions.”https://t.co/cjKlRte69d
— Rev. Dr. William J. Barber II (@RevDrBarber) July 12, 2020
Millions of Americans could face eviction in July—and it could 'destabilize communities for years to come.' https://t.co/VyRTUzEkeo
— CNBC Make It (@CNBCMakeIt) July 6, 2020
20 million renters face eviction!
— ❤️Black Rose/Rosa Negra🖤 (@BRRN_Fed) July 7, 2020
20 million renters face eviction!
20 million renters face eviction!
Let that sink in. https://t.co/ChlHCMDLii
You think the riots have been bad so far? We haven't seen anything yet.
— beth, uprising enthusiast (@bourgeoisalien) July 7, 2020
Millions fear eviction without more aid from Congress https://t.co/QGzDL8h3V2
Without some kind of plan and further aid, the looming end to NYC's eviction moratorium has the potential to be a catastrophe https://t.co/w2mQuY67lc by @mrgopal pic.twitter.com/rT7hbh8tpH
— Joe Weisenthal (@TheStalwart) July 8, 2020
More than 20 million people face eviction by the end of September as GOP threatens to cut aid: study https://t.co/yhjqKWtkRC
— Jeffrey Levin (@jilevin) July 11, 2020
As coronavirus cases surge across the US and states throttle back on economic reopenings, experts and advocacy groups warn that low-income families could face utility shutoffs as moratoriums on disconnections lift — with Black families especially at risk. https://t.co/jyQVDnKZwA
— CNN (@CNN) July 12, 2020
69 percent of Republicans described the U.S. economy as “excellent” or “good”
What planet are they on? Sad!
Not everyone thinks the economy is doing so poorly. https://t.co/SEmkbOnMjE
— FiveThirtyEight (@FiveThirtyEight) July 6, 2020
Sad! 