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> Growth requires the citizen base to continually spend more. If the stimulus bill had gone directly to that, then this might have made a lot more sense. Forg
by gopalv 6y ago
> Growth requires the citizen base to continually spend more.
If the stimulus bill had gone directly to that, then this might have made a lot more sense.
Forget UBI, the trillion dollars in PPP, if it was put into people's checking accounts as a reverse payroll tax might have had a very different (& aligned with consumerist values) economic result.
As in, take the "employee as a cost" out of the employer's books & turn every extra employee just extra hands to work at your business, just paid for by the negative taxes (this punishes the under-the-table payment tax dodges directly).
The fact that they gave PPP, without actually putting money into a paycheck absolutely sucked if your goal was to stop the money from slowing down in the economy.
A dollar I spend turns into many more dollars spent, than a dollar I saved.
But if I know I'm out on the street once that number drops to 0, I won't spend right now, even if it is a necessary purchase.