Go back to previous topic
Forum nameGeneral Discussion
Topic subjectSounds like the WH is getting on board too.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13373412&mesg_id=13373794
13373794, Sounds like the WH is getting on board too.
Posted by stravinskian, Tue Mar-17-20 11:18 AM
Some vague statements from Mnuchin about announcements to come, if I understood correctly.

All good.

To be clear, this isn't really UBI. The whole point of UBI is that it's a permanent thing. It's meant to change the fundamental structure of the economy. A lot of Democrats want to call it UBI so they can feel important. But this is an immediate economic stimulus, and the George W Bush administration literally did this multiple times. (Anyone shocked that Mitt Romney is on board is forgetting this recent history.)

It was the wrong strategy in the Bush years because then the goal was to increase consumer spending. The Obama administration recognized that people would be more likely to increase their spending if they got the extra money without noticing it, so they did (iirc) a payroll tax holiday in the stimulus bill.

In this case, the goal is not to increase consumer spending; it's emergency funding to help people cover rent and other unavoidable expenses while they're (hopefully temporarily) not able to work. For that, cash payments are better than a tax holiday (people who aren't working can't benefit from a payroll tax holiday), so it's good to see that they seem to be turning in this direction.