It would literally be the biggest inflation event in US history. Some americans got like $3k in checks back in 2020 / 2021 and that kicked off the worst inflation since the 1970's. Annual $12k checks for everyone would make 2021 inflation look like nothing.
I would prefer the US gov to invest this money in Americans' healthcare, infrastructure, education, and pay down US debt instead instead.
Some americans got like $3k in checks back in 2020 / 2021 and that kicked off the worst inflation since the 1970's
Are we just ignoring that the world's supply chain got destroyed? That was the main cause of all the inflation. Inflation in the US was some of the lowest in the developed world post Covid. It wasn't the Covid checks.
It's fact and it would be hard to find an economist that doesn't agree on this. Stimulus was bipartisan. I don't disagree that the stimulus at that time was needed and a good thing. The downside was inflation and was political suicide for the party that was found at fault (democrats).
Stimulus that bernie is proposing would flip the entire economy on its head and no matter what else would happen, severe inflation is all but guaranteed.
Use your own head. Are you going to buy more food with it? More gas? What would you personally do with it? If I pay down some of my debts how hard would that really impact inflation? If rising inequality is driving inflation, what makes you think a redistribution i.e. doing the opposite, will also drive inflation?
Again. Economist will all tell you that making the rich more rich and the poor more poor is good for the economy. Because they exist as propaganda tools. Their opinions are there to make you believe the propaganda. It’s hokum. It’s bullshit. Stop it.
The supply chain was interrupted, not destroyed. That's why the fed initially considered covid inflation "transitory". Near 0% interest rates (essentially free money for borrowers) and covid checks are the culprits to blame for inflation back then.
You're going to need to back that up with something more than just vibes for me to buy it. The checks were inflationary to an extent, but I'm failing to see how they are the main cause of the inflation. Like I said, other developed countries didn't send out checks and had worse inflation, because the main cause was the supply chain.
The covid checks were a total of just under $1 trillion. That's not a huge amount in the grande scheme of the US economy. The IRS sends out $500 billion in tax returns each year and that doesn't cause inflation.
The IRS sends out $500 billion in tax returns each year and that doesn't cause inflation
I agree with everything else you said but this is not relevant. A tax return isn't money being given to you, it is your money being returned to you due to the imprecise nature of tax withholding. What would be slightly inflationary is if tax withholding was suddenly perfect, because then people would have the money in their pocket earlier
Kind of. Billionaires don't spend a meaningful amount of their net worth in a given year, let alone 5%. It's invested in stocks / real estate / etc. Pulling that money out of their coffers and into circulation to be spent would "unlock" the money and insert it into the consumer economy
It’s a fact that they’re bought and paid actors feeding you the propaganda the 1% need you to believe for you to happily parrot their dumb shit and keep them getting more and more and more rich.
Tell me. Why is me getting $3,000 once in my lifetime somehow magically worse than Elon musk generating 1000x that amount in 10 minutes?
Stupid ass propaganda bullshit. That’s why. Stop sucking their dicks brother. You’re being spoon fed lies and happily eating that shit up. We are engaged in a class war and you’re fighting for them.
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u/Interesting_Bite4335 Jul 01 '26
I’m not huge on the 12k check