Short Term UBI

[pb4uski]

Quote:

Originally Posted by Fermion The reason they want to do the $1000 to everyone is it doesn't require a lot of partisan fighting and it is relatively quick and easy to implement. They don't want to spend 2 months crafting a more precision plan that targets certain groups or income levels because there will be arguing and delay in that. Think of it like this. You have a forest fire, but you don't know exactly where the hottest spot is, so you dump a bunch of water on everything. You don't wait 2 months so you can sift through the wreckage to see "yeah, that was where we should have dumped it"

It's still a stupid idea. It doesn't take a rocket scientist to figure out who the people who will be most in need are... and I'm guessing that it is less than half of the population so more than half the money is wasted due to political expediency? Stupid.

[Fermion]

Quote:

Originally Posted by pb4uski It's still a stupid idea. It doesn't take a rocket scientist to figure out who the people who will be most in need are... and I'm guessing that it is less than half of the population so more than half the money is wasted due to political expediency? Stupid.

Yep, you got it, it is stupid and yet they should still do it.

You are not seeing the big picture politically. If they just target one segment of the population, it worries the politicians who were elected by another segment (because their segment is getting shafted). In order to have a chance at getting this thing passed, they probably have to give it to everyone even if some don't need it.

[pb4uski]

Oh, I see it clearly... they just need to grow a pair and get over it and do the right thing for a change.

[MRG]

For the folks suffering it's a lifeline, hopefully it's enough to help them.

Those of us who are able to have an obligation. Blow that dough to prop up the economy.

[target2019]

We'll take $1k each per month, thank you. If we don't need it we'll distribute it to needier folks.

[harley]

Quote:

Originally Posted by Fermion Yep, you got it, it is stupid and yet they should still do it. You are not seeing the big picture politically. If they just target one segment of the population, it worries the politicians who were elected by another segment (because their segment is getting shafted). In order to have a chance at getting this thing passed, they probably have to give it to everyone even if some don't need it.

I'm pretty sure it's going to be targeted anyway. I never received a check/rebate last time, and if they put any of the same "no millionaires" limitations on this one I won't get it either. We have an income, and that's what they'll probably use to determine who gets what. Now people like PB4 and others that are managing their investments to minimize taxes and such will show up as eligible, even though they don't really need it. But the people he's annoyed about, the high earners that live paycheck to paycheck, probably won't get it, or at least won't get the full amount. All they have to do is apply the same limits they applied the last time.

[Fermion]

That is another good point. In our apartment complex, where we are the youngest by 20 years or more, I overheard one couple saying their daughter, who is a hairdresser, is out of work because of the virus. They were discussing the money she sends them (to help with rent or food I guess). This is a 70+ year old couple living in a 560 sq-ft one bedroom apartment in a small town. They are not going to be getting any extra unemployment benefits so the only way they see some relief is something like this non-targeted check.

So what if Bill Gates also gets $1000. He will probably just donate it or forget to cash it.

[Montecfo]

Sounds like a bad idea. Already have unemployment, extended unemployment, etc.

I do not see a benefit, I do see abuse and waste. Exactly what we do not need.

[Dash man]

Quote:

Originally Posted by target2019 We'll take $1k each per month, thank you. If we don't need it we'll distribute it to needier folks.

That’s what we’re going to do.

[dd564]

Quote:

Originally Posted by Fermion Yep, you got it, it is stupid and yet they should still do it. You are not seeing the big picture politically. If they just target one segment of the population, it worries the politicians who were elected by another segment (because their segment is getting shafted). In order to have a chance at getting this thing passed, they probably have to give it to everyone even if some don't need it.

Correct.

Also, part of the problem with just deeping the budgets of unemployment is many more people now are working as independent contractors than ever before. For them there is no unemployment insurance.

Food delivery, Uber drivers, etc.


The good thing is cash in the hands of these people will be money spent which is what the economy needs. Money spent on rent, on mortgage payments, on food, toilet paper (evidently). It could prevent some of the nasty chain-reaction events that happen if these people suddenly can't pay rent or mortgages.

[dd564]

Quote:

Originally Posted by Montecfo Sounds like a bad idea. Already have unemployment, extended unemployment, etc. I do not see a benefit, I do see abuse and waste. Exactly what we do not need.

I don't think you understand the significance of what we are facing.

[dd564]

Quote:

Originally Posted by Dash man That’s what we’re going to do.

Donating is great, or even going and spending it locally whether it's for someone who painted a painting or some other art.
Or providing overly generous tips or helping a restaurant owner keep his business open.

[Fermion]

If we get $1000 each we will use it to pay the contractors putting in the foundation for the house we are going to build ourselves this spring/summer/fall or it will be used to purchase building materials or pay the guy who takes down a few trees that need to go (which will be turned into toilet paper!)

I think we will do our part to keep at least the parts of the economy that can still function, functioning.

[Sanstar]

Quote:

Originally Posted by target2019 We'll take $1k each per month, thank you. If we don't need it we'll distribute it to needier folks.

Exactly! We will be fine w/o it but we have family who we can pass it on to that are being adversely affected. Not because they are lazy, poor judgement/decisions, etc... but because they do important work that just doesn’t pay well and have kids to feed. Schoolteachers for example.

For those who don’t have family to pass it on to, there are food banks, shelters for homeless, animal shelters, etc that always need help.

Highest form of “trickle down economics”.

[GravitySucks]

Think it's a great idea. Let's see how trickle up works for a change.

Probably will give most of mine to DD2.
No one getting their hair done, so they cut her hours.
She missed out on the St. Pat's parade Uber fares. Last year was over $300 driving drunks around for the afternoon. This year less than$100.
Neither of these income streams will be replaced by unemployment.
Maybe buy a couple pizzas from the local pizza pub. That bar income being gone is going to hurt.

[CRLLS]

IMO, for this group, it should be spent on "blow-that-dough" or donations wherever possible, not for things that we would have spent it on anyway with other money streams. This way the "gift" will be paid forward.

[Aerides]

If DH and I get a check, I'm considering buying something like VTSAX and gifting it to my niece as a a "graduation" gift (I'd rather give her an investment than cash - she's knows we ER'd and what savings means, and I'd be buying at the low, investing in the economy and in a young person at the same time).

She's a great kid, works hard, turns 18 this week (no bday party now), and is seeing her final semester of high school disappear. This should have been a fun experience for her - spring break, prom, grad night (in FL an overnight trip to disney), and graduation itself, then her final summer of fun with friends before they all go to college. All that is probably gone now. So is her part time job - she had a great gig dressing as disney princesses and performing and children's parties. Also gone.

[zinger1457]

If they do pass out the $1K check is it likely to be treated as taxable income? My ACA MAGI for 2020 is going to be close to the subsidy limit, this unneeded 'gift' could end up costing me a good chunk of money.

[Montecfo]

Quote:

Originally Posted by dd564 I don't think you understand the significance of what we are facing.

Candidly, no one knows how bad it will or won't get. But I can easily recognize a bad idea in any case.

And I explained why I think it is. Perhaps you can explain how this is an improvement over unemployment, in your estimation.

Cheers!

[ivinsfan]

Quote:

Originally Posted by Sanstar Exactly! We will be fine w/o it but we have family who we can pass it on to that are being adversely affected. Not because they are lazy, poor judgement/decisions, etc... but because they do important work that just doesn’t pay well and have kids to feed. Schoolteachers for example. For those who don’t have family to pass it on to, there are food banks, shelters for homeless, animal shelters, etc that always need help. Highest form of “trickle down economics”.

Teachers pretty sure none are missing paychecks