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Originally Posted by nfotiu
The Washington Post editorial board has an article today about why these $2000 are such a bad idea, and I agree fully. So many of these checks will go to people who don't need it, and not nearly enough is being done to help the people affected most.
https://www.washingtonpost.com/opini...48c_story.html |
Means-tested stimulus cheques, as proposed by this article, are notoriously bad ideas.
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Much of this is going to be saved, not spent, since restaurants are closed and air travel limited. The resources would be far better spent, in terms of both economic equity and economic growth, on longer extension of unemployment benefits, aid to state and local governments, and vaccines.
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This is just pure speculation, and likely false. There are legitimate concerns that it will end up just being wealth transfer to Amazon, etc., because people won't spend it locally, and that's a legitimate concern with all forms of UBI until countries improve their tax codes. However, people are struggling and the government has given bailouts to Wall Street, defense contractors, etc. during this pandemic. It's a bad look when you tell people to stay home and not work during the pandemic but give them very minimal means to support themselves at the same time.