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Proposed: $2k Monthly Stimulus Checks and No Rent Mortgage Payments for 1 Year
- pmiller2 7y agoI’d be on board with both of these, provided that becoming involuntarily unemployed since the beginning of the year automatically qualified for the $2k/month. There should preferably be no phase out, but as long as people who are losing income through no fault of their own qualify, I’d be satisfied. As it is, it looks like this is just another half measure.
- bdcravens 7y agoWhat you're describing is just unemployment payments, which has already been funded. This plan will cover everyone, employed or otherwise, as long as they don't exceed the income guidelines ($130k/single or $260k/couple)
- pmiller2 7y agoNo, I’m describing $2k/month for everyone, but I’d be satisfied if the unemployed automatically qualified. I don’t care if a few who don’t really need it get it as long as everyone who does does.
- bdcravens 7y agoAs written, someone who exceeded the income guidelines won't, regardless of how they lost their job. Then again, that gets into a question of need, with the assumption being that high-income earners have savings as a product of that income.
- pmiller2 7y agoThat’s correct. I would rather have the means tests eliminated. $130k is roughly a 90th percentile individual income. Just give it to everyone without means testing, and you pay out to ~10% more people, but guarantee that literally everyone who needs it gets it. I don’t care if people who don’t need it also get it.
- bdcravens 7y agoI suspect there's a number of families out there where one person makes over $130k, but makes less than $260k as a couple (so they'll still qualify).
- skinnymuch 7y agoIs there a site or disscusion area that lets you know the likelihood of any proposed bill or law having a chance and what chance at passing? The $2K/mo seems like it would never get far, for example.
- bdcravens 7y agoThis sounds good, but the PPP wasn't even fully funded, running out of money before it fully satisfied demand. (and even being underfunded by individual banks, with some banks running out before others) This will be a disaster if it passes and isn't fully funded (ie, renters getting free rent but their landlord not reimbursed through the relief fund).
- bdcravens 7y agoQuick napkin math shows this will cost somewhere between 6 to 10 trillion dollars a year (assuming it's fully funded)
- technofiend 7y agoWhich might work if we roll back taxes to Regan-era levels. Otherwise this just seems like an attempt to break the back of the government by overloading it with debt. Don't get me wrong: basic universal income is fine by me if we can pay for it, and I don't meant by wishful thinking "cut taxes on the rich and money will surely rain from the sky" policies.
- jki275 7y agoRaising taxes on the rich isn't going to do it either, the only way you get that money is taxing the middle class into the ground. Or you just print the money, make it up out of thin air like we're doing now.
- raincom 7y agoWhat's the chance of passing this bill? If it were to bail out stock market, both parties would be so happy to join forces to bail out the investor class.