Category: Basic Income

Cutting every single American a check was once the zany idea of a long shot Democratic presidential candidate (Hi, Andrew Yang!). It’s now the consensus policy response to an imminent coronavirus-induced recession.

"We’re looking at sending checks to people immediately," said Treasury Secretary Steve Mnuchin at a press briefing. "Many companies have shut down, whether it’s bars or restaurants. Americans need cash now, and I mean now in the next two weeks."

On Monday, Sen. Mitt Romney (R–Utah) endorsed a minimum one-time transfer of $1,000 to all Americans as part of a broader set of economic relief proposals.Democrats are warming to […]

Full Post at reason.com

In today’s newsletter we discuss if UBI is the saving grace in testing time like these.

With Coronavirus having taken centre stage, you can hear the demand loud and clear- Governments must help citizens in the event the global economy dips into a recession and what better way to achieve this objective than offering a Universal Basic Income?

Well, maybe these people do have a point. But before we get to the heart of this story, a brief on UBI.Universal Basic Income (UBI) refers to periodic cash transfers to every citizen in a country. Think of it as the government […]

Full Post at finshots.in

While quarantine is by far the best tool for quickly limiting the spread of an infectious disease, it comes at a high price.

Sandro Galea, a physician, epidemiologist, author, and Robert A. Knox Professor at Boston University School of Public Health, says that the scars of quarantine will last long after the virus is contained. When thinking about already vulnerable communities, Galea’s work becomes even more compelling.

In another study published this past January, he and his colleagues found significant upticks in depression and post-traumatic stress symptoms in communities who participated in protests, riots, and resistance efforts—the types of communities who […]

Full Post at fortune.com

For those who are inclined to see every crisis as an opportunity to advance their parochial political objectives, the Coronavirus outbreak is the mother of all opportunities.

Social media is mobbed by the over-confident and under-educated, some of whom are capitalizing on the opportunity presented by images of ransacked supermarket shelves to make favorable comparisons with more socialistic societies . These snarky tweeters don’t seem to know they’re suggesting that the tangible effects of socialism are akin to a perpetual pandemic.

It is nevertheless true that those who are taking this acute crisis seriously have dropped their ideological objections to economic […]

Full Post at www.commentarymagazine.com

When entrepreneur Andrew Yang announced he was running for President, many considered him to be an unorthodox candidate. As a successful entrepreneur who attended an Ivy League law school and founded Venture for America, a national fellowship program for aspiring business owners, he shared similar credentials to presidential candidates before him. But he was facing off against more than a dozen members of Congress and Obama-administration alumni as someone who had never been elected to public office himself.

And a key component of his platform was considered to be a particularly fringe idea: Universal Basic Income (UBI). The premise of […]

Full Post at time.com

As America struggles to face a growing coronavirus pandemic, Republicans across the country are adopting and supporting progressive policies to deal with it.

"We’re facing a serious health crisis, and Utahns shouldn’t have to choose between a paycheck and protecting their health," Utah Sen. Mitt Romney tweeted on Thursday.

Romney has been one of the leading Republican proponents of increased support from the federal government amid the outbreak, which has sidelined masses of non-salaried workers and forced layoffs, leaving untold numbers of Americans with no ability to cover their bills.Other Republicans who have typically favored limited government interference have also shifted […]

Full Post at americanindependent.com

“The 360” shows you diverse perspectives on the day’s top stories and debates.

What’s happening

In addition to the extraordinary public health risk it poses, the coronavirus is having a major impact on the economy. The stock market has plunged. Industries like hotels, airlines and restaurants are suffering. Workers are missing paychecks, and some have already been laid off. This economic pain may be only the beginning of an extended slowdown that could potentially tip the country into recession.Leaders in Washington have scrambled to curb the downturn. The Federal Reserve cut interest rates almost to zero and launched […]

Full Post at www.yahoo.com

As the government takes drastic measures to calm markets, individual Americans might soon be seeing some dramatic measures of their own.

In a White House press conference today on coronavirus measures, Treasury Secretary Steven Mnuchin made a decisive statement that Americans can expect to receive a cash stimulus in the form of a check in the mail—and soon.

“We’re looking at sending checks to Americans immediately. What we’ve heard from hardworking Americans is many companies have shut down, whether it’s bars or restaurants,” Mnuchin said.“Americans need cash now and the president wants to get cash now. And I mean now in […]

Full Post at techcrunch.com

Voters listen to Democratic 2020 U.S. presidential candidate and entrepreneur Andrew Yang as he speaks during a campaign stop in Nevada, Iowa, January 28, 2020.

Mike Segar

Sen. Mitt Romney of Utah wants the government to cut a $1,000 check for every American adult as the spread of the coronavirus rapidly shuts down the economy. Fellow Republican lawmaker Sen. Tom Cotton of Arkansas is proposing cash stipends to help people pay their bills. Treasury Secretary Steven Mnuchin said at a White House press briefing on Tuesday that “Americans need cash now,” meaning “in the next two weeks.”On the other side […]

Full Post at www.cnbc.com

The populist revolution responding to the coronavirus has been spearheaded by none other than Mitt Romney. The Utah senator embraced a $1,000 cash bailout to every adult in the country, to both help induce consumer demand among middle- and upper-income earners and help the basic bottom line for those who cannot make immediate bills.

Though his payment would be a one-time payment, it echoes the idea of universal basic income, which has been in the news thanks to its prominence in Andrew Yang’s presidential campaign. It is especially compelling during a time of pandemic precisely because it is simple. By […]

Full Post at www.washingtonexaminer.com