Billionaire Mark Cuban has a new plan to help Americans during these tough economic times caused by the Corona Virus shutdown. He thinks that the government should give every American household a $1,000 check every two weeks, or $26,000 per year.
At 128 million households that comes to $128 billion every 2 weeks or $3,328 trillion a year. Chump change! Well, it would only be for two months so even at five total payments that would leave a price tag of $640 billion.
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In an interview with CNBC the owner of the NBA’s Dallas Mavericks said, “The whole goal is to get that money every two weeks into the economy. Once businesses start having demand, even if they’re closed and working online, then there is a reason for them to be able to bring back employees and retain those employees if demand is sustained.”
“Those without [help] are struggling badly. We need to get them help,” Mark Cuban added. But the money would need to be spent quickly. Cuban said that he does not care what it is spent on, just that it gets spent within ten days. But he gave no ideas on how the U.S. Treasury is supposed to pay for all of this.
He basically reiterated ideas which Cuban had already stated on Twitter back in May.
Mark Cuban: Every household in America should receive a $1,000 stimulus check every 2 weeks for the next 2 months https://t.co/hBi8ZAuVeF
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Back in May Mark Cuban tweeted, “It’s time for trickle-up economics. We need a transitional fed jobs program that trains and hires millions for a federal tracking/tracing/testing program as well as for support for at-risk populations including long term care. We need to dent unemployment with stable jobs.”
“It’s time to face the fact that PPP didn’t work. Great plan, difficult execution. No one’s fault. The only thing that will save businesses is consumer demand. No amount of loans to businesses will save them or jobs if their customers aren’t buying.”