During critical times, people’s true motives often become highlighted.
While Democrats and Republicans squabble over who should receive what and how much, Representative Alexandria Ocasio-Cortez’s solution is to simply send every single American a check.
She threatens, however, that the rich will be taxed at a significantly higher rate in 2020 in order to recoup the money.
Check it out:
The New York Post had this to report:
Rep. Alexandria Ocasio-Cortez on Sunday said in the interest of immediately getting money to struggling Americans, the federal government should send checks to everybody — and then claw back what the wealthy get through taxes next year.
“I do think it should be universal,” the New York Democrat said Sunday on CNN’s “State of the Union,” referring to a stimulus plan to send checks to Americans as the coronavirus drags down the economy.
“I hear the argument: ‘Why you are going to give a check to Bill Gates,’” she said.
“One of the things we’re saying is tax it back a year from now. So we don’t have to worry about a big bureaucratic means test. Mail them all out to everybody and let’s get them back from the folks who don’t need them next year,.”
She claimed the stimulus package currently being debated in Congress — which would provide enhanced unemployment benefits — would fall short of helping some Americans, citing gig and contract workers.
The progressive Bronx lawmaker said she’s “very supportive” of the plan recommended by the Financial Services Committee that would send $2,000 this month to every American and an additional $1,000 per child.
The Western Journal added:
The interview probably made more news for Ocasio-Cortez’s factually inaccurate claim that President Trump called the COVID-19 pandemic a hoax, but this actually wasn’t a major surprise, given how she rolls.
Instead, the major surprise should have been that this is how an economics major from a serious university thought this was a good idea.
Here’s how she wants to do this. First, you send everyone checks. Then, next year, if they were rich enough, you take that money back.
Now, there’s no cutoff for this — if it’s just Bill Gates-rich people, I don’t think we’re going to be getting much money back. If it’s less-wealthy people, well, then you’re going to get a lot of money back, but you’re also going to have a lot of people who aren’t going to spend the money because they know they’ll just have to pay it back anyway, which means we don’t get any benefit from it.
Well, no harm, no foul, right? Not precisely. In case the COVID-19 outbreak has made you lose track of time, place and our country’s situation, we’re not spending this money from a massive reserve of cash we’re sitting on.
If countries were like cartoon characters and their relative wealth was based on their national debt, I can’t tell you who we’d be, but I can tell you we’re not Scrooge McDuck swimming through the pool of gold coins.
We have to finance this all through deficit spending, which means we have to pay interest on this. That means we have to pay interest on this — and even if it’s just interest for a year until we get that money back, we still have to pay interest on it.
From long experience, I can tell you that money we take in from taxes next year won’t be used to lessen the deficit to make sure that we pay less in interest. If AOC has her way on spending, it certainly won’t be. Spending will continue apace and we’ll have the same kind of budgetary issues.
But we’re saving money by not means-testing upfront, right? I’m not quite sure where she got this idea, but clearly not from reality. There’s not particularly a “big, complicated means test upfront,” after all. Your 2018 tax return would do quite nicely. That is, I would assume, how we’re going to give you money for having children. That’s a means test in and of itself, after all.
But that’s not really what this was all about.
There’s no particularly great solution to the dichotomy between the priorities of Ocasio-Cortez’s militant army of Twitter free-stuffers with the dawning reality for these free-stuffers that people with all that stuff they totally don’t want for themselves would get the money under this plan, too.
Now, granted, that’s the whole point of a stimulus. The Bill Gateses of the world won’t change their spending habits for a few thousand dollars. If you’re right over whatever arbitrary line lawmakers want to draw, though, there’s no reason for you to spend that money — or any more money than you have to, for that matter.
If anything, we need people with more disposable income back into the economy as much as we need people with less of it.
The industries that are going to be hardest hit here are hospitality, travel and food and beverage. People from higher income brackets are more likely to go out to eat or to take a vacation.
A check is more likely to give them the psychological boost they need, once this is over, to go out to eat or to take a weekend getaway to a bed and breakfast. There’s no psychological boost once you tell people you’re going to take that money back in a year.
This is a fundamentally unserious idea put forth by a fundamentally unserious congresswoman. This a serious time and a serious subject, however.