Warm Southern Breeze

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Posts Tagged ‘unemployent’

A Simple Pandemic Economy Fix: Give 10.25M People $40,000

Posted by Warm Southern Breeze on Thursday, January 28, 2021

Give money to everybody who needs money.

It’s just that simple.

How much, how many?

10,252,500 people

$30,000 cash

$10,000 in their FICA/SECA accounts

That’s a total of $40,000 per person.

The Quick-N-Easy math looks like this:

We’ll use 10,252,500 unemployed people (discussion, rationale, and calculations for that figure are later in this entry)

10,252,500 unemployed people
x $30,000 = $307,575,000,000 ($307.5 billion)

10,252,500 unemployed people
x $10,000 = $102,525,000,000 ($102.5 billion)

$307,575,000,000
+ $102,525,000,000 = $410,100,000,000 ($410.1 billion)

10,252,500 unemployed people
x $40,000 = $410,100,000,000 ($410 billion)

That’s MUCH LESS than the $1.9 TRILLION proposed.

Plus, the $10,000 FICA/SECA money would be for their employers, a $10,000 tax deduction!

Why do something like that?

First, it puts a significant amount of money (delivered in a lump sum) into the hands of hurting people. And they need that help DESPERATELY. It keeps them from being evicted/foreclosed upon, it keeps the lights turned on, and water and gas turned on, etc.

Second, it significantly helps employers, many which are also hurting, and need help. In the case of small businesses, many owners are employees of their companies, so they would also get $30,000 checks. PLUS, they would also get $10,000 checks (per se), which would be credited to the company’s books as a deduction in operating expenses, thereby increasing their profit (perhaps they’ll use it to pay down long-term debt). How they use the value of the deduction is entirely up to them, but it (the money) MUST BE PAID TO THE EMPLOYEE’S FICA ACCOUNT. In fact, the mechanics of the transaction are Read the rest of this entry »

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