Mark Cuban: All Americans Should Get $1,000 Check Every 2 Weeks For The Next 2 Months
The Dallas Mavericks owner and self-made billionaire says coronavirus aid is needed as much now as it was when the pandemic began.
Cuban thinks that all American households, whether they need it or not, should receive a $1,000 stimulus check every two weeks for the next two months. He actually floated this idea in May but recently reaffirmed his belief, CNBC reports.
Because so many businesses are struggling and many more have already closed, Cuban proposed a stipulation to the money. He believes the money should expire. Check recipients would have 10 days to spend the money.
You could spend it on anything you want, but saving it was not an option. This would help stimulate the economy and push the money out to the businesses that need it.
Here’s his Tweets from May:
https://twitter.com/mcuban/status/1262084931779518465
https://twitter.com/mcuban/status/1262084932437979137
In addition, because this will take time, we need to consider an interim spending stimulus program. All 128m households could get a $1k check every 2 weeks for the next 2 months that MUST BE SPENT WITHIN 10 DAYS OF RECEIPT OR IT EXPIRES. This "use it or lose it" prog will
— Mark Cuban (@mcuban) May 17, 2020
Cost about $500b, but it will allow for demand for non essential products and services to increase, hopefully keeping most businesses alive, as we learn what the impact of re-opening is on the spread and whether or not employment grows organically.
— Mark Cuban (@mcuban) May 17, 2020
https://twitter.com/mcuban/status/1262084934598103040
It’s certainly a bold plan, and details on the “use it or lose it” money would definitely need to be addressed. With politicians currently deadlocked on how to approach another stimulus it might be something worth looking into. I know the money would certainly be a boost for delivery drivers because I’m spending all my stimulus money online shopping.
Democrats in the U.S. House of Representatives said Thursday they’re redrafting a coronavirus aid bill to show that the party isn’t giving up on passing relief before the November 3rd election.
