Pelosi endorses $2,000/month universal basic income.

[RandySF]

During a call with the Democratic whip team Wednesday night, Pelosi and other lawmakers voiced support for including in the next package $2,000 in recurring monthly payments for Americans — a concept known as a universal basic income made popular by former presidential hopeful Andrew Yang.

A source who described the whip call said Pelosi didn’t endorse any specific bill, but Progressive Caucus Co-chair Pramila Jayapal (D-Wash.) and Rep. Rashida Tlaib (D-Mich.) have authored legislation giving every American $2,000 a month for the duration of the crisis, followed by a monthly $1,000 payment for an entire year after the crisis ends. But a plan of that expense is sure to raise concerns from moderate members and fiscal hawks, wary of the impact on deficit spending.

Other items on the Democrats’ priority list include those rejected by Republicans in the earlier fights — things Pelosi has vowed to include this time around. Among them are provisions to protect voting systems ahead of November’s elections, boost funding for the U.S. Postal Service, improve broadband infrastructure in underserved communities and expand worker protections under the Occupational Safety and Health Administration.

House Democratic Caucus Chairman Hakeem Jeffries (N.Y.), who represents hard-hit Brooklyn and Queens, has offered a bill that would release “vulnerable” people, including pregnant women and those with health issues, from prison to protect them from COVID-19.




https://thehill.com/homenews/house/496511-pelosi-seeks-to-wrangle-caucus-behind-next-covid-bill

[erronis]

1. Excellent. Pay for itself in a year. No "trickle-down" supposed benefits from the raygun nuts.

Instead the rich want the poor to send the same amount upwards to support their yachts and gated communities.

[Hortensis]

55. For now it'd be temporary during the pandemic, but yes.

Stimulus AND disaster relief from the government of, by, and for the people to the people from whom all government funds come in the first place.

Giant changes and challenges require new answers.

"We can have democracy in this country, OR we can have great wealth concentrated in the hands of a few, but we can't have both." Nancy Pelosi, quoting pre- New Deal Justice Louis Brandeis, to the nation at the opening of the 116th congress.

[RainCaster]

2. Yes! This is the sort of common sense plan our country needs

Pelosi wins the day IMO.

[SheltieLover]

4. I like Maxine Waters' plan

Which is also $2k/month, with very clear no bs rules! Zero loopholes. 👍

[Control-Z]

33. Nancy's has loopholes?

Can you list them?

[2naSalit]

3. K&R!

[roamer65]

5. I think it's this or massive riots when unemployment runs out.

I plan to tap my 401k if laid off or furloughed. Probably right around that amount.

[sarcasmo]

6. Agreed.

[at140]

7. Will the $2000 be paid for by increasing taxes on the rich?

because US Treasury is already in $23 Trillion debt.

[roamer65]

8. Pressure is growing for negative interest rates.

Much of the debt may not even accrue interest.

[jimfields33]

10. That's true

And we only pay the interest every year so it’d sorta be free money at least for the foreseeable future.

[roamer65]

11. Since the debt is so large, high interest rates will only happen in a currency crisis.

They will be artificially low until the Fed has to defend the dollar from failure.

[sandensea]

32. +1

God forbid the markets ever lose faith in the dollar - or we may be looking at an Argentina situation for the very reasons you outlined above.

[at140]

23. Not quite, I own T-bonds 10 years ago on which the gov't is obligated to pay the stipulated interest

every year, and the gov't does. Negative rates would only affect future issue of debt.
And the bonds won't sell very well at negative rates. The other option is simply print the money, and create inflation.

The $23 Trillion debt requires payment of prevailing rates at the time of T-bond purchases.

[jimfields33]

25. Dang. Very complicated

[at140]

27. Yes, debt is usually a losing proposition, I prefer increasing taxes on those who

can afford it the best and pay as you go. It is easy to borrow money, then it gets spent, but interest lasts for ever.

[roamer65]

12. 60 pct tax on the rich.

First move up should being back the 50 pct rate from 1982.

[Yavin4]

14. Oh, but they're the job creators!!!

Whatever will we do?

[at140]

26. Not all rich people's income goes towards creating jobs

Let's say a rich person builds an apartment building. So construction people get jobs for 3 months. After that the rich person sucks up the rents for life of the building...many decades.

[hughee99]

36. Yes, and the rich person dives through that money in a giant vault like Scrooge McDuck

instead of doing anything else with that money.

[wryter2000]

58. A rich person doesn't build a building

A company does. The only jobs rich people create are their personal servants and people who work for companies that build yachts and such.

[Hermit-The-Prog]

42. Jobs for robots!

[Bucky]

64. Start w/70% tax rate, but give tax breaks for actual jobs created

[at140]

24. Agreed for drastic increase on incomes over $1 million/year

We don't need 1% living like aristocracy when others are struggling to make ends meet.

[stopbush]

20. So what?

[Mr.Bill]

74. How about we just stop building aircraft carriers?

You know, since now we know they can be taken out of action by a microscopic virus.

[Wellstone ruled]

9. Watch Canada for doing this same program.

Finland has been working on this as well as Sweden.

[bucolic_frolic]

13. "wary of the impact on deficit spending" Absolutely Hilarious!

The Fed is printing $3 Trillion A MONTH, giving it to corporations, buying corporate debt with it, and the GOP and the bozo journalist who wrote this article is worried about deficit spending for people!

Beyond hilarious! Ludicrous! Insanity!

[c-rational]

17. +1

[Grokenstein]

19. If "printer go brrrr" for the military and the megacorporations

then printer can go brrrr for everyday American citizens.

Just call it "quid pro quo" and the Simpleton-in-Chief will probably go for it...as long as he gets to show everyone his signature again.

[erpowers]

15. Do Something About Rent

I know the article mentions rent, but they really do need to do something about rent. I do not mind the idea of cancelling rent, but I would prefer if Congress would just pay the rent for low income people, or those affected by the Coronavirus crisis until the crisis is over.

[forthemiddle]

50. Wouldn't the $1,000-2,000 a month pay the rent?

There is no way this bill has even a small chance of being passed. In fact I doubt we even see another $1,200 one time payment. The most we might hope for is an extension of unemployment benefits to help out those unable to go back to work.

[Pacifist Patriot]

51. In some locations, it might pay for the bedroom closet.

I live in an area that has a relatively low cost of a living and the average for a studio apartment as of April 2020 was about $800 a month.

[obamanut2012]

60. $1500 for a very small one-bedroom

A bit south of you. It's nice, and is considered a "very good deal" where I am in PBC. And, no, even with a very good job I can barely afford it, but it is indeed a good deal. It is bloody insane.

[More_Cowbell]

68. $1643 per month for a small apt in a 1961 building

In the Bay Area. And the only reason it's *this* cheap is because I've lived here for almost 10 years -- new renters pay almost $2200. 600 sq feet 1-bedroom, no dishwasher or in-unit laundry or assigned or covered parking.

But I'm lucky to be still working from home. I gave the $1200 to local food banks and would give away the $2k too. There are many many kids in my area who are used to eating 2 meals a day at school.

[SammyWinstonJack]

53. My son pays 1200/mo in San Antonio for a two bd/ba. He has a roommate.

Both were called back, Applebees. Less than 20/hrs week. Tough to meet rent on that.

[erpowers]

57. Pay For Other Things

I thought the $1,200-$2,000 would and should be used to pay for other things. I thought most people would need that money to pay for food and bills. Most people would likely not have much money left over for food and bills after paying for rent.

[BamaRefugee]

16. Fiscal hawks have a problem? Just roll back all those tax cuts for billioniares!

[JudyM]

75. ⬆️ This, right here ⬆️

[jorgevlorgan]

18. let's see if it happens.

[stopbush]

21. A great idea that will directly help millions, prop up the economy

and give us a chance to wait out this virus.

[ancianita]

22. That right there is the policy of the Democratic Party. It is the General Election win point.

[thesquanderer]

72. Exactly. As soon as the Republicans say no, it becomes Biden's winning platform. (n/t)

[onecaliberal]

28. How to pay for it? Repeal every last tax cut for the wealthy, and tax the hell out of them.

ALL of them. No more corporations paying zero taxes.

[Thekaspervote]

29. Madam speaker also said in her statement the next package must include help for the USPS

Mcturtle will not be able to look the other way... not in a election year. Dotard will have to sign it. He knows it will be the final death knell if he doesn’t.

[Hortensis]

54. :) Yes. nt

[OMGWTF]

73. And I hope support for 100% mail-in voting. That will be a game changer!

HOWEVER, a mega-MAGAt was just installed as the Postmaster General and I'm sure he has orders from Shitler to burn it to the ground. USPS is a huge union and also employs many POC, so naturally the reThugs hate it.

[area51]

30. "... concerns from moderate members and fiscal hawks ...."

What, the same "fiscal hawks" who didn't give a s**t when the wealthy were given those tax cuts?

[lunatica]

45. I know! It's like when Senator Collins says she's "concerned"

The words are as gentle as they can be and they are just sound, meaningless, with no connection whatsoever to truth.

[JoeOtterbein]

31. Great move!

Only idiots (from the GOP, of course) would vote against it!

[riversedge]

34. GOOD TO SEE THIS.

[IronLionZion]

35. Omar's Rent and Mortgage Cancellation Act should get some more traction

since that's the main expense for most Americans. Including businesses in it would go a long way towards keeping them viable to reopen gradually as social distancing is lifted.

[PatrickforO]

37. This is a really good post, Randy. Two points:

1. Universal basic income is a really good idea. Yang wasn't the first. It goes clear back to revolutionary France, but Thomas Paine and Thomas Spence advocated a welfare system that guaranteed everyone a basic income. This is such a great idea, and it might just help the Dems win, because this end stage capitalism has created a system that isn't set up for our benefit. At all. A universal basic income would go SO FAR toward restoring everyone's human dignity, it wouldn't even be funny.

2. As to Jeffries, I agree with him too, but we should include the release of all the people illegally held by the Trump administration in the private for-profit concentration camps just because they came here seeking asylum while at the same time being people of color.

[Ollie Garkie]

38. Nah

No Way this gets through McTurtles senate. Note the sudden fiscal concern after the trillions in corporate bailouts.
Mighty pieces of shit the repukes are.

[RandySF]

43. We can still push him to act on it.

[KayF]

49. if we don't do things like this

the GOP is going to run to our LEFT and win. I don't think people realize the magnitude of the economic pain that's coming, soon.

[JI7]

39. It should have been done at the Start with a National Shut Down

for most small business owners direct payments like that would help a lot more than applying for loans and cocerns about employees. This would have helped people to stay home and not stress too much about personal finances.

[MoonlitKnight]

48. Agreed

And I’m not sure any more relief bills get passed. The Republicans already got what they wanted.

[JmAln]

52. Well

if they want to get re-elected, they'd better do something. Pelosi has negotiating power here. Trump really is over a barrel here. If

McConnell blocks everything, Trump doesn't get re-elected, and hopefully the repukes lose the Senate.

[ChoppinBroccoli]

40. When People Recoil In Horror Over The Very THOUGHT Of This Idea..........

.............just remind them that it seems to work pretty well in Alaska. Now unclutch those pearls, Grandma.

[PufPuf23]

41. A basic income even post-CV19 is a good idea for capitalism

Modern industrial countries have economies that are post-full employment. There is no sound reason for every able bodied person to work. This should be one benefit of our science and technology plus political and economic wisdom. The benefit should be shared in a healthy society rather than the perverse concentration of wealth and income, much from rents and speculation rather than production, concentrated at the top while most struggle for day to day existence.

Capitalism is a good thing for creativity, entrepreneurship, and freedom. The major goal of finance under capitalism is a social system to allocate capital investment in an efficient and beneficial manner. However, regulatory and enforcement side boards on unrestrained capitalism are required for the efficient and beneficial allocation of capital. What has happened under neo-liberalism, an economic not political doctrine, is a return to the laissez faire capitalism that once rewarded the robber barons of the 19th century, that brought about the Great Depression, and result in the current skewed economy. Side boards need to be re-instituted and modernized.

The strength of Wall Street over Main street is because the system is biased towards existing wealth; stimulus money or tax relief in stock buy back and program trading schemes that maintain share price and allow dividends but doesn't do most for most of us save perhaps in our shaky and ever weakening retirement programs. The large corporations and wealthy buy or use monopoly power to destroy small competitors and to buy assets of failed businesses at a discount. If government stimulation went to consumers who spent the money on what they want and need, the money will have both an economic multiplier effect and allocate profits / capital to the worthy corporations and independent businesses to better meet the efficient and beneficial use of capital.

Payments like what Pelosi suggests are what are required in a post full employment economy for capitalism to function and it would be wise and fair to make them permanent but adjustable.

There is a very different way to look at and organize capitalism that our current experience.

[Buckeye_Democrat]

44. GREAT!!

This will be met with STRONG opposition, of course.

It's something that would, long-term, give far too much freedom to American workers. Instead of taking a job just to SURVIVE, they could be more choosy.

It wouldn't have to be much, but just poverty-level amounts. Incentive to work and earn more money would still exist.

And free market forces would still be in play, but with just a tweak of the basic ground-rules, rules that our government provides ALREADY. It wouldn't be like Communism in which the government tries to manage all aspects of an incredibly complex market, which automatically strikes me as impossible.

The owner-class will reveal their true control-seeking nature to more people before this is settled.

Edit: I'm also still convinced that the daily grind of going to jobs at mini-tyrannies explains much of the mental illness in this country.

[durablend]

65. Of course this can't happen

You see how much bitching and moaning there is about "People sitting home and getting a windfall" (UE) as it is.

[DFW]

46. I would add something to the bill

A minimum five year penalty for stealing the money from someone who needed it to live on, for bank employees who illegally take it from destitute people for past obligations, for so-called "religious" institutions who solicit people to donate the funds to them. People who do that are the lowest of the low, and should be made to know that the rest of society thinks so.

[Jamastiene]

62. THIS

I would love to see this too.

[Marrah_Goodman]

47. I live on 1000 a month, for me this would be amazing

Once I pay my bills and necessities there is hardly enough money to put gas in my car

[hangaleft]

56. Kudos to our Speaker

This should be permanent.

[SoonerPride]

59. This will be a winning campaign issue.

It won't pass until Joe is in office.

But this is a political winner.

[Jamastiene]

61. That money comes from us in the first place.

I am glad Pelosi is endorsing the idea. We need it. That is for sure. I hope it happens, because something has got to give.

Those that will be against it need to realize that money comes from the taxes we pay in the first place. They aren't "giving" us anything. I hate it when some Republican jerk feels the need to act like the government is giving "freeloaders" money. That money came from us in the first place. The freeloaders are Republicans who are so stingy they would rather let kids starve than fund school lunches in a situation where for some of those kids, it might be the only meal they get that day. Not to mention all of the other stuff Republicans refuse to fund. I despise them being in charge of money that came from us in the first place, considering how stingy and selfish they are. I'm still fuming at Burr and others for their insider trading they got away with.

[MichMan]

76. Don't know about you, but my spouse and I don't pay $48k in taxes every year.

[Bucky]

63. Somewhere up in heaven, Andrew Yang is smiling down on us

He would have been so proud... *sniffle*

[Dandelyon]

66. Good. Many people can't pay rent

This would lessen the suffering.

[PoindexterOglethorpe]

67. I would feel slightly guilty about taking that money,

since while not fabulously wealthy, I do have an adequate and sufficient income for my needs.

I'd probably give the excess to a food bank or a homeless shelter.

[More_Cowbell]

69. That's what I did, donated to two food banks

The news said that each dollar donated can create 10 meals. That seemed like the biggest bang for my bucks.

[PoindexterOglethorpe]

70. I did that with my stimulus check.

Half to a local homeless shelter, half to a local food bank.

I've done volunteer work at both in the past, and am well aware of the need.

[Mariana]

77. There are lots of very worthwhile charities out there.

There's also the option of paying it back to the government, should something like this ever come to pass.

https://fiscal.treasury.gov/public/gifts-to-government.html

[PoindexterOglethorpe]

78. Thank you for that information,

but I'd rather pass it on to other needy people.

[Upthevibe]

71. I'm glad she's floatin' it out there....

...........Things have NOT been working for regular folks for a long time. All this talk about how great the economy has been (before COVID-19) is BS! The wages have been stagnate for years and company benefits have gradually gone to almost nothing. And, even with a college degree, I've barely been making it. Granted, I live in L.A. which as we know can be expensive.

I've lived in a two bedroom apt. with a roommate for six 1/2 years. It's in a really cute neighborhood and in a nice town - Redondo Beach - (but we're not near the ocean). Having said that, the rent goes up every year. Last July we converted the living room into an extra bedroom (with room dividers) to add another roommate. Fortunately, she's awesome and has been able to make it work.

My main roommate has lived here for 24 years. Unfortunately, she's retired so she's here ALL of the time. The lease is under her name. She's had family members and various roommates on and off since she moved in. She can be very difficult (but only about 85-90% of the time). I'm fortunate because my space is a large bedroom with a full bathroom attached. I can just close the door that goes out into the hall and it feels like I have my own place. I only need to go into the kitchen to throw something into the microwave (I don't want or like to cook) so there's not a whole lot of interaction. We pay $1,850 which is quite a bit below market value in this area (but the housing and rental costs are really out of whack here). I'm wondering if the situation the country is now in will ultimately change things for the better.....