Stimulate job growth, not the printing press, in next COVID relief package

U.S. Treasury secretary Steve Mnuchin, majority leader Mitch McConnell (R-Ky.), and the rest of the U.S. Senate are working on a new COVID relief bill the Legislative Branch will consider in July.  This raises the question: what should the new plan look like? While the House-passed HEROES Act authorized another round of $1,200 stimulus checks, last week, many Republicans — including ones that previously championed the idea in the CARES Act, like Sen. Mitt Romney (R-Utah) – have already expressed their disapproval.  And for good reason. The term "stimulus checks" is a bit of a misnomer. Stimulus is supposed to encourage production and generate new income, but printing dollars to create free income from the Treasury Department does the opposite.  In many cases exceeding standard take-home pay, these checks do nothing other than embolden the status quo by redistributing wealth and discouraging the citizenry from...(Read Full Post)
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