#WR: Covid wealth effect! Today @WSJ Editorial: "The State Covid Windfall" shows how #Covid generates a "wealth effect" in sectors of the State, despite everybody pleading for poverty. 25 LA County firefighters gained "$100,000 on average in overtime by ferrying test supplies"
In today's Editorial, The Wall Street Journal analyzes the package agreed by the Congress of $2.3 trillion between Republicans and Democrats.
The Editorial starts with a significant paragraph " They plead poverty but their revenue and federal aid show otherwise."
WSJ adds "Joe Biden called it a mere "down payment: and Speaker Nancy Pelosi said it is "a first step"...
The Editorial explains a series of cases that the States that cry for the crisis, but really they are not in bad shape. "States are also doing very well in this latest Covid bill."
My observation is that Covid didn't hit everybody in the same way. And in a lot of cases, the pandemic helped to generate a great windfall.
SOURCES: The Wall Street Journal, my own WORLDRETHINK think tank
No comments:
Post a Comment