Congress should pass a simple one-time payment of $1,000 to every adult who is a U.S. citizen or a taxpaying U.S. resident, and $500 to every child who meets the same criteria.Here's a better idea. The IRS should allow anyone to borrow up to $10,000 against future tax payments, with interest. The IRS has an excellent collection mechanism.
The medicine should fit the disease. Jason's logic seems to be good old aggregate demand -- the answer is the same, only the questions change, we always need more stimulus in the form of borrowed money showered on voters. As I think about a pandemic, shutting down the economy is most likely to cause liquidity problems. My version gives a lot more money to those who really need it, measured by their willingness to pay it back.
If you believe money doesn't grow on trees, deficits must eventually be repaid, and that money should go where it is needed, this seems like a better idea.
from The Grumpy Economist https://ift.tt/2wzaX5A
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