Mark Cuban has an interesting idea for new stimulus checks (loans, small business)
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Billionaire Mark Cuban says it’s time for the government to push “trickle-up economics” to save small businesses, because the Paycheck Protection Program isn’t cutting it.
“The only thing that will save businesses is consumer demand,” he wrote in a series of tweets Sunday. “No amount of loans to businesses will save them or jobs if their customers aren’t buying.”
To do that, he explained, we have to have a transitional jobs program that trains and hires millions of people for a federal tracking/tracing/testing program, along with support for at-risk populations.
“We need to dent unemployment with stable jobs,” Cuban said.
He added that while that plan is being implemented, an interim spending stimulus program should be put in place in which 128 million households get a $1,000 check every two weeks for the next two months,
along with the rule that it must be spent within 10 days.
“Cost about $500b, but it will allow for demand for non essential products and services to increase, hopefully keeping most businesses alive, as we learn what the impact of re-opening is on the spread and whether or not employment grows organically,” he wrote.
The only practical way to enforce this spending rule is with an electronic debit card. Human nature being what it is, I can see a lot of fraud associated with this kind of helicopter money dump.
Where do these lunatics thinks money comes from????
The sweat of future generations and some nuclear-tipped missiles guarantee the debt. No politician alive today has to worry about paying one penny of the principal.
The sweat of future generations and some nuclear-tipped missiles guarantee the debt. No politician alive today has to worry about paying one penny of the principal.
or going to jail.
No debt, no jail, no perjury, nothing to see.
Was Madoff worse than these snake gutter politicians who have ruined tens of millions of lives?
The money will just get spent online or in supermarkets. It will go to the same establishments that have profited most from the pandemic. I believe Cuban is an online entrepreneur which explains why he wants this solution. In the likely absence of a successful vaccine, the money would be better spent redesigning commercial establishments to make it easier to partition and distance clients and manage the air flow to prevent recirculating contagion.
The only way families are getting another stimulus check is if the market starts to crash. As of the time I write this, it is not.
There may be another PP that will go through, but no checks to individuals are going to pass the senate right now.
The notion of 2K per months is simply delusional.
It's been publicly reported that three different White House sources have said the Trump administration wants at least one more $1,200 check as they think it would boost Trump's re-election chances. Everyone likes free money ...
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