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It's fraud and it's terrible but.. Another way of looking at this is that a lot of that $200B was likely put back into the economy. Would the government claw th
by Simulacra 3y ago
It's fraud and it's terrible but.. Another way of looking at this is that a lot of that $200B was likely put back into the economy. Would the government claw that back, for example returning the fancy car and demanding the cash back?
- HPsquared 3y agoBroken window fallacy
- BaseballPhysics 3y agoUh, no, absolutely not. The broken window fallacy is about destroying value to create work. The point is that the result is a net negative for society. This is a case of the government issuing debt to push money into the economy and keeping businesses afloat. Some of those applicants may have been ineligible fraudsters, but their spending those funds still results in that cash circulating in the economy. Is that as beneficial as keeping a business afloat? No. But there's no reason to believe the result is a net negative.
- therobot24 3y ago> put back into the economy oof is that the bar we want to set? spend it and you're fine
- bradleyjg 3y agoThe money is long gone. The people can still go to prison.
- syrgian 3y agoMoney put into cars and yachts, yes, mostly gone. But Real State surely can be recovered, and given the current market, probably at a premium.
- whatwhaaaaat 3y agoWon’t some one think of the Ferrari dealers and mansion realtors!
- automatic6131 3y ago>Another way of looking at this is that a lot of that $200B was likely put back into the economy And put into relatively unproductive sectors like luxury goods. And taken from future American taxpayers, too. A truly collosal waste of limited resources.
- SkipperCat 3y agoAgreed. Thinking about WWII, the Allies did all sorts of awful things and made a lot of mistakes that cost the lives of innocents. But the overall goal was a much greater benefit than not acting at all.
- Out_of_Characte 3y ago'likely put back into the economy' is a terrible way of putting it. That wouldn't be a good explanation in front of a judge who sees my fancy car, paid by fraud. It also does not inspire confidence with how the government treats money. Why would I be willing to do honest work if society lives on broken ideals? If the ppp was feasable, the government would have reserved money for solving these side-effects of their proposal.
- mrlatinos 3y agoHow about we just don't take taxpayer dollars in the first place, if the government plans to do things like this with it? Don't need to add money to the economy if you don't take it away in the first place.