Proposal to give $2,000 per month to Americans gains traction in Senate

Knight

Knight

Well-known Member
A group of Senate Democrats unveiled a proposal on Friday that would give most Americans a monthly payment of $2,000 until the coronavirus pandemic begins to fade.

Sens. Kamala Harris, D-Calif., Bernie Sanders, I-Vt., and Ed Markey, D-Mass., released the so-called Monthly Economic Support Act that would dramatically expand the one-time stimulus payments of $1,200 sent to most Americans as part of the massive relief package signed at the end of March.

Similar to a House bill proposed in mid-April, the senators called for $2,000 cash payments to every American who earns less than $120,000. it would expand to $4,000 for married couples and also provided an extra $2,000 for each child up to three.

https://www.yahoo.com/news/proposal-2-000-per-month-171322001.html


Until the pandemic begins to fade? I wonder if there are month to month cost projections for what the price tag of that proposal will be?
 

There are a few similar proposals floating around.

The one that I really want to understand is the ABC act sponsored by Rashida Tlaib that would be paid for by minting two platinum coins with a symbolic value of one trillion dollars each. The coins would be held by the treasury and provide an increase in the money supply without adding to the national debt.

I am seriously interested in understanding this but I have to admit that I'm having trouble wrapping my head around the idea.
 

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Aunt Bea said:
There are a few similar proposals floating around.

The one that I really want to understand is the ABC act sponsored by Rashida Tlaib that would be paid for by minting two platinum coins with a symbolic value of one trillion dollars each. The coins would be held by the treasury and provide an increase in the money supply without adding to the national debt.

I am seriously interested in understanding this but I have to admit that I'm having trouble wrapping my head around the idea.
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I found this article extremely interesting. https://www.nytimes.com/2020/04/15/business/coronavirus-stimulus-money.html

I used to naively think, "if we have such a national debt why don't they just print more money?" and it appears I was not far from the mark. :D
 
The more money the government spends...without having the taxes, etc., to support that spending...the more likely that this increasing debt will create major problems in the future. At the bare minimum, such programs could easily create a substantial increase in inflation would would quickly negate any short term benefits that this "free" money might give.

As election season approaches, and the economy continues to struggle with this virus, I'm sure we will hear all sorts of "proposals" designed more to enhance the politicians chances of winning....rather than providing any real long term solutions.
 
Knight said:
A group of Senate Democrats unveiled a proposal on Friday that would give most Americans a monthly payment of $2,000 until the coronavirus pandemic begins to fade.

Sens. Kamala Harris, D-Calif., Bernie Sanders, I-Vt., and Ed Markey, D-Mass., released the so-called Monthly Economic Support Act that would dramatically expand the one-time stimulus payments of $1,200 sent to most Americans as part of the massive relief package signed at the end of March.

Similar to a House bill proposed in mid-April, the senators called for $2,000 cash payments to every American who earns less than $120,000. it would expand to $4,000 for married couples and also provided an extra $2,000 for each child up to three.

https://www.yahoo.com/news/proposal-2-000-per-month-171322001.html


Until the pandemic begins to fade? I wonder if there are month to month cost projections for what the price tag of that proposal will be?
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OMG $2,000 cash payments to every American who earns less than $120,000

And the beat goes on...I am old school and think people that can should take care of their needs. Who that makes. like $80,000 let alone $120,000 needs a hand out?
 
How soon will the US Social Security fund run dry? I'm living on $6,000.00 a year. Whoop, whoop. Will they borrow from Peter to pay Paul? Time to tighten the belt again. Each year SS sends a letter saying they are raising my soc. security by $3 or $4 and in the next paragraph say that it is back to where it was because I am also a claimant on my exe's SS account. Forthcoming likely tax increases will make me homeless - likely sooner than later. Giving the well-employed working and the wealthy is good for the economy. (Heavy sigh)
 
oldmontana said:
OMG $2,000 cash payments to every American who earns less than $120,000

And the beat goes on...I am old school and think people that can should take care of their needs. Who that makes. like $80,000 let alone $120,000 needs a hand out?
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Well, we don’t make 80,000 either, so money, money, money. My grandchildren can pay it back for me as I paid for my grandparents,
 
C'est Moi said:
Sorry, but I don't believe we should leave such a burden for our grandchildren.
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Amen! I'm in favor of the government making some Short Term expenditures, in case of a national emergency, but then, taxes should be raised to pay off that debt, ASAP. Eventually, government deficits lead to problems that affect everyone. I'm 100% in favor of balanced budgets...our State has that and if they need more money, they either raise taxes, or reevaluate the "need". Our kids and grandkids will have enough problems to face without having to pay our generations debts.
 
Didn't they already tack $600 per week ($2400+ per month) onto unemployment? That's on top of what unemployment already pays. So an unemployed person could be taking home over $4000 per month.

Many companies (CVS, Kroger, Wal-Mart, truckers) are hiring but they can't compete with getting paid the equivalent of $50,000 per year to stay home and play Nintendo.

I would be in favor of a) massive infrastructure spending and b) subsidies to state and local govts. so they can keep people working. Not a $2000 per month handout.
 
JimBob1952 said:
Didn't they already tack $600 per week ($2400+ per month) onto unemployment? That's on top of what unemployment already pays. So an unemployed person could be taking home over $4000 per month.

Many companies (CVS, Kroger, Wal-Mart, truckers) are hiring but they can't compete with getting paid the equivalent of $50,000 per year to stay home and play Nintendo.

I would be in favor of a) massive infrastructure spending and b) subsidies to state and local govts. so they can keep people working. Not a $2000 per month handout.
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I don’t think anyone plays Nintendo anymore. But if you have money and don’t need money then you are against the monthly checks, but if you don’t have money and need money you are for the checks. There will be some exceptions, of course.

As for unemployment, I don’t get it. I would have had to be employed first 😂. I’d like a job, but can’t work so there you go. A handout is just fine with me.
 
MarciKS said:
hey i resemble that! i play nintendo. 😁 i also work for a living. lmao!
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Really? Nintendo? Surprised. I do not work for a living. I do wish I could. I loved job, but when the supervisor has the paramedics on speed dial, it’s time to go. 🤣
 
yes really. since i don't do the whole "outdoors" thing and i'm an introvert i simply must have something to spend my stimulus money on and something to do. 😁
 
MarciKS said:
yes really. since i don't do the whole "outdoors" thing and i'm an introvert i simply must have something to spend my stimulus money on and something to do. 😁
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I play World of Warcraft. I love this stupid game. 😀
 

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