NYT: Give People Money

[Dennis Donovan]

https://www.nytimes.com/2020/03/18/opinion/coronavirus-economy-recession.html

A consensus is building around the simple expedient of sending cash to every American. Politicians need to move quickly.

By The Editorial Board

March 18, 2020, 5:00 a.m. ET

<snip>

The crisis requires an urgent response from the federal government, and the most important step is simple: Send $2,000 to every American, immediately.

People need money to pay the rent, the mortgage, the utility bills. Handing out money also would encourage consumer spending, which is the primary form of economic activity in this country. And that, in turn, would help to keep small businesses open, and workers employed.

Politicians are coalescing rapidly around the benefits of handing out money. Senator Mitt Romney proposed Monday to send everyone $1,000. A group of six senators upped the ante on Tuesday, proposing to send everyone an initial $2,000 and as much as $4,500 by the end of the year.

The first round of payments would cost about $660 billion, equal to roughly 3 percent of the economy’s total output last year — big enough to offset the severe drop in economic activity that forecasters are predicting in the second quarter of the year. The government would then make additional quarterly payments until the unemployment rate subsided.

</snip>

[handmade34]

1. ...

Link to tweet

[Dennis Donovan]

2. He's smiling like a guy who's been proven right

I like Andrew!

[Just_Vote_Dem]

10. Me too!

Hope there's a place for him in the next administration.

[MoonRiver]

17. On CNN today he said Chump's admin. has been contacting him for ideas!

Andrew is the go to guy!

[Codeine]

15. The smile that says "I don't wanna say I told ya so,

but I most assuredly told ya so.”

[Bigredhunk]

3. Yup

Doubt it happens though. He/They'll give it to industries & companies instead. There was a story on HuffPo yesterday about cons not wanting to send $$ to people b/c they think the people will become lazy. JFC. Yeah, nobody's ever going back to work after they get their two grand. Morons.

[handmade34]

5. it will happen

because they know it has to… my only concern (and I know there is no easy way to discriminate) is that the money go to people that actually need it and will get it out into the system... there are many people who will be ok and the money will just go into the bank as savings... example is me... right now I don't need the money ...but to be fair, I will give it to my daughter who lost her job due to Covid

[Bigredhunk]

9. Hope so

And you do need it. Someone in your circle needs help. Obviously I hope we get through this crisis quickly, but I hope she finds a good job again too.

IDK how you'd decide based on merit. It's cheap as hell to live here in Iowa. But plenty people who make a heck of a lot more $$ need every penny b/c of their higher cost of living. I leave that for those smarter than I am.

[spinbaby]

12. More efficient to just send it to everyone

If you stop to decide who deserves a check, that process will take time and resources. I’d rather a billionaire gets an unneeded check that someone else doesn’t eat because their check was delayed.

[handmade34]

13. agree for efficiency

my hope, as I said, is that we will act in a spirit of community and those that don't need it will pass it on to charity or gift it to a person in real need...

the idea is two-fold... help people in need and inject money into the economy... the concern I noted is if money just goes into someone's savings, it doesn't help as planned

[crickets]

18. +1

[procon]

4. How does this work?

Does everybody qualify for this money, the homeless to millionaires? If they send out checks all the folks that don't have bank accounts will lose part of their money trying to cash it.

Bush got slammed for the cost of printing checks and mailing them, so what's the cheapest and fastest delivery method to get this money in the hands of consumers? How can the govt make sure those folks who need the most help, like homeless, elderly and the poor, aren't left out?8

[handmade34]

7. from what I hear

the money will go out without a lot of discrimination... but my fear is that a lot of people that really need it will not get it (homeless, those not in the system, etc.) and hopefully people that don't need it will pass it on to charity or someone who they know that can get it out into the economy

[Watchfoxheadexplodes]

8. They say IRS will be fastest way

People who have filed in past few years.

I suspect a lot will have to go the old snail mail route.

Social security would probably carry most elderly on it. Maybe Medicaid?

Sadly the homeless probably won't see any of it.

[procon]

11. There's probably a lot of people who earn little or nothing

who don't even bother filing any tax forms. If they lose out that would be so unjust.

[handmade34]

14. that is my concern as well...

I know some of those people and I am worried

[wishstar]

6. News reports this morning said money wouldn't go out until end of April- 6 weeks away

Biggest reason for delay is Mitch McConnell's and Repubs failure to move faster to reach an agreement.

[Jamastiene]

16. I won't believe the Senate Republicans in charge

would do it until I see it happen. I wish they would though. We can't live on nothing in a stagnated situation like this.