Tom Cotton Floats Universal Basic Income for Coronavirus Crisis

[mystery-ak]

John Binder 16 Mar 2020

Sen. Tom Cotton (R-AR) is floating a plan to “get cash into the hands of affected workers and their families” due to national shutdowns of businesses in nearly every industry from the coronavirus outbreak.

In a series of posts online and in a Fox News Channel interview, Cotton said American workers who are being forced to stay home from their jobs due to shutdowns in the midst of the coronavirus crisis need immediate relief in the form of cash payments.

The monetary policy, known as Universal Basic Income (UBI), has made its way into the national spotlight over the last year thanks to businessman Andrew Yang. The policy could mean that American citizens affected by the coronavirus shutdowns would get $1,000 a month in cash.

Cotton suggested using existing social welfare agencies to put “cash in the hands of affected families.”

more
https://www.breitbart.com/politics/2020/03/16/tom-cotton-floats-universal-basic-income-for-coronavirus-crisis/

[Chosen Daughter]

I don't know about this.  To people who don't need it?  To everyone?

[The_Reader_David]

I don't know about this.  To people who don't need it?  To everyone?

Yes. Do you want to set up a bureaucracy to decide who needs it?  Give it to everyone and tweak the tax code to recoup it from people, who despite any downturn in the their income due to the epidemic made more than some amount.

[Chosen Daughter]

Yes. Do you want to set up a bureaucracy to decide who needs it?  Give it to everyone and tweak the tax code to recoup it from people, who despite any downturn in the their income due to the epidemic made more than some amount.

Am I crazy or is this sounding like a liberal wet dream?  In the first place you would never recoup it.  If you did it would be pulling teeth because that would be unfair to tax the rich only.

[Chosen Daughter]

I think the best way is if a company is going to shut down due to COVID 19.  Workers should have the week waiting period waived and get 100% of their income paid for.  Companies.  Especially small companies also should receive relief so that they do not go under.  Nobody that is not working should receive anything they don't already get.  With the exception of Seniors on Medicare.  They should manipulate medical costs for those who have to get help from COVID 19.  And provide whatever extra care for Seniors who have to quarantine at home.

[DB]

It looks we're going into uncharted territory on a number of fronts...

[Chosen Daughter]

It looks we're going into uncharted territory on a number of fronts...

You can say that again. 

[Formerly Once-Ler]

Am I crazy or is this sounding like a liberal wet dream?  In the first place you would never recoup it.  If you did it would be pulling teeth because that would be unfair to tax the rich only.

@Chosen Daughter
We want to give it away now while we can borrow it for 0%, and recoup it when the FED drops into negative rate lending...the more debt we refinance the more negative debt (interest) we accrue.  Eventually we can just forget about the debt when the economy collapses.



It's too bad we didn't sock away any money during the good times...some people would say great times, in fact I heard some say the best times.  Instead we spent even more.  Unfortunately nobody wants to be spend-thrifty during a crisis.

[EdinVA]

Yes. Do you want to set up a bureaucracy to decide who needs it?  Give it to everyone and tweak the tax code to recoup it from people, who despite any downturn in the their income due to the epidemic made more than some amount.

We do have the unemployment insurance and welfare/medicaid systems already....
Not real crazy about the solution but cannot come up with anything better in the short term.
I do think that the billions we spend on business continuity plans and  national emergency plans should be refunded... lol

[jpsb]

I used to own a beer joint and I can tell you the girls that worked there worked for tips, not what I paid them. Without those tips they would not be able to pay their bills or feed their children. If we are going to shut down bars, clubs and restaurants then a lot of women (and men) are going to go broke if we do nothing to help them.

Happily Texas had not yet gone into lock down. 

[The_Reader_David]

...  Companies.  ...

And the self employed?  and employees of sole proprietorship?