Why is there no more Covid relief? Because life has never been better for rich Americans
The Senate is holding hearings for Amy Coney Barrett while Covid relief stalls, because nobody in power feels any pain.
A disgraceful episode in American political history is unfolding in the Senate chamber. As tens of millions of Americans face destitution, the Senate Judiciary Committee is convening hearings for Amy Coney Barrett to be nominated to the U.S. Supreme Court.
When Barrett gets confirmed, one of the first cases she will hear is Texas’ challenge to the Affordable Care Act, which could dismantle the program in the midst of a global pandemic that’s killed more than 210,000 Americans. Up to 21 million people could lose their healthcare if Obamacare is struck down.
Republicans are operating with great urgency to confirm Barrett, pushing forward with hearings despite three senators and an array of White House officials, including President Donald Trump, battling Covid-19. There is no great urgency, however, to pass more coronavirus relief.
That’s because our political leaders don’t feel the pain. In fact, times have never been better for them and their backers. The coronavirus pandemic has been a windfall for the richest Americans. Our government answers to them.
The Democrats have passed two separate coronavirus relief packages since the CARES Act, which was put together in a matter of days, back when the stock market was still tanking. Most recently, House Democrats passed a $2.2 trillion stimulus bill, down from their $3.4 trillion stimulus bill on May.
I mention that, because both parties do not share equal blame for this loathsome abandonment of the American people. Not even close. But with Nancy Pelosi rebuffing the administration’s $1.8 trillion package over the weekend, Democratic leadership is playing politics, too. An imperfect package is better than no package, and if Joe Biden wins the presidency, more encompassing bills can be passed down the line.
As Rep. Ro Khanna tweeted, Pelosi should take the deal, and put the ball in Mitch McConnell’s court.
But then again, those with $25,000 ice cream fridges aren’t feeling the economic pain, either.
I dare anybody to read this Bloomberg article without vomiting. The 50 richest Americans now hold nearly as much wealth as half of the U.S. The top 1 percent have a combined net worth of $34.2 trillion, while the poorest 50 percent hold just $2.08 trillion.
The 50 richest people in the U.S. are worth around $2 trillion, according to the Bloomberg Billionaires Index.
Covid has exacerbated our shameful inequality, and nobody embodies this gross disparity more than Jeff Bezos, whose fortune has jumped 64 percent this year.
For high-wage workers, there is not even an economic recession, never mind depression. By mid-July, the unemployment rate for high-rage workers was down just 1 percent from January. It remains down 15.4 percent for low-wage workers, according to Harvard’s Opportunity Insights economic tracker.
Overall, the U.S. unemployment rate stands at 7.9 percent, with more than 840,000 people filing new unemployment claims just last week.
With events canceled and entertainment options dwindled down to al-fresco dining, Americans saved $3.2 trillion in July. Meanwhile, a quarter of Americans say have been unable to make rent or mortgage payments or pay a bill.
Each day during Covid, wealthy Americans have sat in their homes on their laptops, and watched their fortunes balloon. The stock market is up, and the top 10 percent of Americans hold more than 88 percent of stock shares.
With remote work continuing until 2021 — or possibly forever — rich white-collar professionals are even less exposed to poor people than before. There are no more subway rides, interactions with the Starbucks barista, or midday sandwich orders. There is no interaction between the two sides, outside of masked interactions at the grocery or liquor store check-out line.
With that in mind, the lack of urgency among Congress to pass relief isn’t surprising. They aren’t hurting, and most of them probably don’t know anybody who’s hurting, either.
The Amy Coney Barrett hearings will continue all week, and cable news will be obsessed with it. Remember, nobody in cable news greenrooms — or these days, Zoom conference rooms — is hurting, either.
This week’s proceedings are bound to produce star-turns and viral moments. Democratic senators will grill ACB over her believed opposition to Roe v. Wade — as they should. But if a Democratic senator wanted to make another powerful statement on behalf of women, they would hold up a sign with this number: 900,000.
Last month, nearly 900,000 women reported leaving the workforce. That’s more than four times the total of men. This spring, women accounted for 55 percent of job losses.
Unsurprisingly, Black women have been disproportionally affected by Covid unemployment.
The utter failure by our supposed representatives to pass more Covid relief should be the biggest story in the country. It is the ultimate failure.
But those who are being failed are used to it. They are voiceless, trapped with skyrocketing debt and increasing hopelessness.
Meanwhile, the party goes on for those at the top. They are focusing on the ideological battles of the Supreme Court, because that’s what their donors care about.
They see no need to pass more relief. Everything is great for those who matter.
Photo via @AaronRupar