Another federal stimulus is in the works to get the economy through the pandemic. I propose that the best way to distribute all funds is to give the money to the people in equal payments as income.
The stimulus money is not manna from heaven. These programs are financed by putting us all deeply in debt. The last $2 trillion stimulus package put every man, woman and child in the country $6,042 in debt. The math is simple: The amount of the loans, divided by the current population or $2,000,000,000,000/331,000,000 = $6,042. Why shouldn’t everyone be given the share of the debt they're being forced to take on?
The argument against giving all of us our money is that it should be targeted to those that need it the most. The last stimulus followed this philosophy and allocated huge sums of money to the unemployed and as select payments to weaker private sector ventures such as the airlines, junk bonds and chip factories. Such targeting is not only unnecessary, but harmful to the economy.
Fortunately, we already have adequate safety nets in place to assist people during short term swings in the economy. These systems have developed through years of careful legislation. Any attempts to quickly rework years of vetted programs are bound to go awry.
Consider the PPP program. We already have an unemployment insurance program. All workers have put money into this program through their employers. For some reason, it was deemed necessary to supplement these benefits with additional payments. This has created a bizarre situation where essential workers continue to work and pay unemployment insurance while they and their families take on a large debt to pay others to stay home.
We should just give everyone their money.
Thomas Amato, Saratoga Springs
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