Originally Posted by
Sidewinder
These checks will literally last forever.
There are a lot - perhaps 10s of millions of people that don't qualify under their 2018 return but absolutely qualify now. The no-end-in-sight economic devastation is immeasurable. The US Economy was 23 trillion. what is it now? 1/10th of that? (for example - no one is going pay their mortgage when they have to drive by a tank to get to the post office)
We will see alo of pissed off 2018 filers when they see never-ending "stimulus checks" to people in better shape than they are because their businesses collapsed upon deletion of all commerce.
But to think these checks, once they start, will ever end, shows a special kind of naivety.
Unemployment right now is probably around 70% - just a guess but there are a lot of small business owners who are shut down. Their employees are going get 2k+ for life and these former business owners will owe landlords and god knows who else because they tried to live the American dream until the Rona Virus came to town.
A staggering # of people won't qualify from their 2018 returns will have to live many others getting 2k or more checks for life.
Should be interesting to see how this welfare envy plays out, but like all government programs, this one is pretty much forever.
Yes, I've been worried this might happen, too.
This is why there has to be a real plan regarding what they do about aid for the unemployed and/or broke.
They can't just fly by the seat of their pants. There has to be a plan for 1 month, 2 months, 4 months, 6 months, etc. MY fear is that there is no real plan, and they'll just start printing money if this drags longer than expected.
If this does drag on for several months, they can't just keep shipping checks. There needs to be a more targeted plan to keep people afloat, to where only those who need it most receive benefits, and it can't just be handing out cash. Those in the most need must be identified, and then here has to be a plan which helps them, while disincentivizing people from feigning need in order to get benefits.
It's nothing I've thought about on a deep level, nor could I flesh it all out in a single post even if I have. But to keep blindly shipping checks to people for 6 months ain't gonna work, and could devastate the US for decades to come.