To the drawing board once more. I think I also have to invent the separate AssetCoin. AssCoin. Hmm.
Menzo
1651
Just spitballing here.
So the “issue,” as it is, is mostly about rich people taking their check and throwing it into the stock market, their savings account, or otherwise hoarding it, right?
They don’t need liquid cash at the moment. But they do need safer investments.
So could the government create a special Coronavirus bond that pays, let’s say 2-3%, that is targeted to the rich for them to spend their check on? I mean that kind of guaranteed return is way better than what they could expect from the market, and no other bond is paying at that rate right now, I think.
So you basically give a way to claw back the payment at a small-ish cost from people who don’t need it.
A favorite quote from a favorite economis of mine: “…the hamptons are not a defensible position. The Hamptons are on a low-lying beach. Eventually the people will come for you.”
It’s incredible that the Senate GOP still haven’t understood this.
Also:
It’s amazing how one week of people not spending money on luxuries has devastated the economy.
Nesrie
1654
Your definition of luxury is probably too broad. I mean… almost everything is closed, luxury or otherwise.
Anything that’s essential to life is still open. Grocery stores, dept stores, hospitals, gas stations, sanitation, etc. Things we need to sustain lives.
Luxuries are things like vacations, hotels, theaters, restaurants, bars… they improve quality of life sure but we don’t need them to live. And they’re all basically gone after a week. Someone i know on the local chamber of commerce told me 90% of the restaurants in the city are filing for bankruptcy this week. I know I’m certainly not ordering out like I used to. I don’t know how much money I’ll need to save and getting thai food or tacos is a luxury I can live without. I’ll cook at home.
Nesrie
1656
And Internet…the thing you and I are using to talk to each other right now. One person’s luxury… Cable TV… power. Some people would say that’s a luxury too because large portions of the world don’t have steady access to that.
Just be careful about labeling something a luxury, is all I am saying, while typing on a computer or phone, using power and the internet to do it.
This pandemic is proving that the internet is not a luxury. It’s an essential service, like electricity and water.
If the Internet went down, we’d be in huge trouble
Nesrie
1659
There are a number of people out there that don’t have access to the internet right now.
CraigM
1660
This is not an argument against his point.
This is an argument that we need to treat it like a public utility to ensure everyone has access.
Just because someone living in a cabin in the woods does not have indoor plumbing and electricity does not mean that these items are not necessities of modern life that should be regulated as such.
Edit: to be blunt. If I did not have internet at home, I would not physically die from that the way I would of exposure or starvation. But I would lose my job. The internet literally means I can do my job with minimal impact during this, and my company will be minimally impacted. Millions of others are in the same boat I am.
ShivaX
1661
Especially since it completely is now (and always was, but you could pretend otherwise previously).
Businesses are relying on internet to not go under.
Nesrie
1663
Don’t worry. Someone out there said we’ll be +8 in Q3… heh.
Scuzz
1664
or perhaps something so that it is no worse than the average winter time flu, which kills thousands but doesn’t freak everyone out. People don’t even bother getting the shot for that one (looks at self).
CraigM
1665
Until I had kids, I didn’t either really.
Yeah that shit needs to be killed with fire, AND extreme prejudice.
I just contacted both my Senators to insist that any means testing be applied AFTER the fact, when there’s time, and that people who pay less federal income tax should not get a reduced benefit.
Last night I was watching a small business co-owner I’m friends with on FB, a former neighbor, who wears his Pentecostal-ism on his sleeve 24/7 and a horde of his friends list carrying on that those who don’t pay federal income taxes should get nothing from the fed govt. I had to bite my tongue and fingers to keep from wasting time trying to talk reason with these fine, upstanding Christians who don’t give a f(ck about poor people.
