A New Economic Solution

During this time of the pandemic and the loss of jobs the American people are suffering and the economic solutions of Donald the Orange have helped NO one but the already rich…..

Has anyone asked why this pandemic is harder on the economy than the 1918 pandemic which was far deadlier?

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

This catastrophe naturally hurt the economy. The Spanish Flu, unlike Covid-19, tended to kill people in their 20s and 30s — their peak productive years. Additionally, many cities responded to the threat the same way states are now with social distancing. These included closing schools and churches, banning mass gatherings, mandated mask-wearing and other restrictions.

https://www.bloomberg.com/opinion/articles/2020-05-06/why-coronavirus-is-punishing-the-economy-more-than-spanish-flu

A little historical perspective and now for the plan…..

A few senators have offered a new economic solution to help us mere mortals through this crisis…..

Americans who received a $1,200 stimulus check from the government to help mitigate financial losses during the coronavirus pandemic could now be coming to a sobering realization: It may not be enough. Three senators are saying the same, and they’ve just put forth a “big idea” to deal with the issue, per Politico. On Friday, Sens. Kamala Harris, Bernie Sanders, and Ed Markey unveiled the Monthly Economic Crisis Support Act, which would give a monthly $2,000 check to each American who makes less than $120,000 a year. Married couples filing jointly would get a total of $4,000, while each child (up to three of them per family) would bring in $2,000. The payments would be retroactive to March and would continue until three months after the virus emergency is officially declared over by Health and Human Services.

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

Does this sound like a plan that you would support?

Of course this will go NOWHERE….but it looks good on an resume for the next election….personally, I support the idea….

Spain has rolled out the idea of “universal income”…..

Spain is to roll out a universal basic income (UBI) “as soon as possible” to mitigate the impact of coronavirus.

Minister for economic affairs Nadia Calvino told Spanish broadcaster La Sexta on Sunday night that the move was intended to help families during the pandemic.

But Ms Calvino, who is also deputy prime minister, said the government’s ambition was that UBI could become something that “stays forever, that becomes a structural instrument, a permanent instrument”.

https://www.independent.co.uk/news/world/europe/coronavirus-spain-universal-basic-income-europe-a9449336.html

Any thoughts?

I Read, I Write, You Know

“lego ergo scribo”

8 thoughts on “A New Economic Solution

  1. Or allow people to go back to work. The virus is here to stay and society, esp workers, will have to function at normal levels despite the presence of the virus. Modification must be made in the work place. Deaths may increase but wealth generating activity must be restored. Much of it like small businesses have evaporated never to return. “Stay home, self quarantine”. What part of people are getting evicted, three months behind in bills esp that past due car payment and the refrigerator and pantry are empty don’t these stay home people get ?

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