Since the program’s launch, countless small businesses across the country discovered that the government loans they were promised to stay afloat during the COVID-19 crisis were handed over to wealthy corporations before they ever saw a dime. Those small businesses are the backbone of the American dream, offering immigrants and low income Americans a path to financial independence and success. But without critical aid, the … Continue reading Big corporations are Preying on the Small Business Loan Program
One of the largest looming catastrophes of the COVID-19 crisis is right in American homes. This April, nearly a third of renters weren’t able to pay their rent, and with many hourly and low-wage Americans still out of work, many are wondering how they will afford groceries, medicine, and other necessities – never mind the rent. The beginning of May marks the second rent or … Continue reading American Homes are at Risk. We Need a Tenants Bailout Now.
The owner of the shuttered Hahneman hospital in my hometown of Philadelphia wants to charge the city a mind-boggling $400,000 per month in rent for its use in adding to the supply of hospital beds. This man, Joel Freedman, is a great example of CEO’s who should remember the words of a young president taking office: “Ask not what your country can do for you. … Continue reading Member Dispatch: We Need Solidarity in Philly and Beyond
With great distress, each and every person in America is watching public health and economic catastrophes unfolding daily. As a country, we are terrified by the way the COVID-19 virus kills both people and economies, and, as with people, economies with preexisting conditions are at greater risk. It’s become clear, in a mere matter of weeks, that addressing this issue will take time and thought … Continue reading Quarantining the Economy Is the Only Way to Save It
As I write this, I am eating lunch in my New York City office, near the Flatiron building in Manhattan. A lot of people have offices in this neighborhood, like FanDuel and Credit Suisse. As I often do as part of my regular office day, I went to a branch of Dig Inn that normally has over a dozen workers making lunches assembly line style. … Continue reading A COVID-19 Economy: I’m Not Worried About the 1%. I’m Terrified for the Bottom 50%.
This week, as the Coronavirus pandemic spread in the US and stock market volatility sparked flashing red alarms for the national economy, the Trump administration floated several proposals for stimulating the markets and staving off a recession. The problem is that none of the proposals thus far adequately address the needs of the most vulnerable group amid this pandemic – low-income workers. Right now, 6 … Continue reading How Can the US Contain Coronavirus and Rescue the Economy? Start with Helping Low-Income Workers.