3 ms·

$500 isn't going to do jack. Families need $4k per month and individuals need $2k per month. And then giving poor people nothing is a giant slap in the face. Al

$500 isn't going to do jack. Families need $4k per month and individuals need $2k per month. And then giving poor people nothing is a giant slap in the face. All this means testing is too slow. Limit it to exclude individuals who made over $130k or $200k combined last year, but that's it. Everyone else gets their Nixonbucks pandemic checks because the marginal propensity to consume is going to be higher than usual with 20-30% unemployment, or people will starve, riot and/or revolt.

orasis 7y ago
It might keep some people from starving.
- anonsubmit2671 7y ago
  It might buy a couple of rolls of toilet paper too. When rent is $1500, food costs $450 a month for a family now that staple items in particular are scarce and more expensive, car payments aren't going away, and rent will become due after the 90 day pause because there will be no forgiveness. I predict bread lines in 6 months and far more massive homelessness without a proper bailout of small businesses and the people, rather than trillions of corporate welfare. Trickledown Reaganomics corporate welfare will never work, only trickle-up works. When people don't have money to meet their non-discretionary needs and unemployment reaches 20-30%, which is worse than the Great Depression, what follows is deflation and depression on an unprecedented macro scale. At the street scale, starvation and homelessness would be the impact; Venezuela, Cuba and the UN would be flying in doctors, refugee camp materials and food to the US. Massive UBI directly to individuals and small businesses enough to meet basic needs is essential, and will be spent into the economy because MPC will be nearly 1.0. Otherwise, the US economy will contract more and for longer than at any point in recorded history.

3 ms·

$500 isn't going to do jack. Families need $4k per month and individuals need $2k per month. And then giving poor people nothing is a giant slap in the face. Al

by anonsubmit2671 7y ago

orasis 7y ago
It might keep some people from starving.
- anonsubmit2671 7y ago
  It might buy a couple of rolls of toilet paper too. When rent is $1500, food costs $450 a month for a family now that staple items in particular are scarce and more expensive, car payments aren't going away, and rent will become due after the 90 day pause because there will be no forgiveness. I predict bread lines in 6 months and far more massive homelessness without a proper bailout of small businesses and the people, rather than trillions of corporate welfare. Trickledown Reaganomics corporate welfare will never work, only trickle-up works. When people don't have money to meet their non-discretionary needs and unemployment reaches 20-30%, which is worse than the Great Depression, what follows is deflation and depression on an unprecedented macro scale. At the street scale, starvation and homelessness would be the impact; Venezuela, Cuba and the UN would be flying in doctors, refugee camp materials and food to the US. Massive UBI directly to individuals and small businesses enough to meet basic needs is essential, and will be spent into the economy because MPC will be nearly 1.0. Otherwise, the US economy will contract more and for longer than at any point in recorded history.