Joe Mammy
Footballguy
If you were president right now, how would you design a coronavirus-specific basic income relief plan?
I would do a flat $1,000 per individual adult and then $500 per child under 18 and do it for three months. I like the earned income tax credit, but it doesn’t capture everyone that it would need to, and you don’t have much time in this kind of crisis. The downsides of being under-inclusive are high, so you’d want to err on the side of completeness if you can. Just say, ‘Look, if you’re an adult you get $1,000, and for every child you get an additional $500.’ That would secure more people’s ability to weather this storm.
I would do a flat $1,000 per individual adult and then $500 per child under 18 and do it for three months. I like the earned income tax credit, but it doesn’t capture everyone that it would need to, and you don’t have much time in this kind of crisis. The downsides of being under-inclusive are high, so you’d want to err on the side of completeness if you can. Just say, ‘Look, if you’re an adult you get $1,000, and for every child you get an additional $500.’ That would secure more people’s ability to weather this storm.